At&T Inc 8-K, filed Jul 22, 2021

At&T Inc. (T)

8-K 2021-07-22 For: 2021-07-22

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Added on July 08, 2026

About this 8-K

At&T Inc filed this 8-K on July 22, 2021.

Items reported

Item 8.01: Other events
Item 9.01: Financial statements and exhibits

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☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


(d)	Exhibits

	99.1	AT&T Inc. selected financial statements and operating data.

	99.2	Discussion and reconciliation of non-GAAP measures.

	104	Cover Page Interactive Data File (embedded within the Inline XBRL document)


AT&T Inc.
Financial Data

Consolidated Statements of Income
Dollars in millions except per share amounts
Unaudited	Second Quarter				Percent		Six-Month Period				Percent
	2021		2020		Change		2021		2020		Change
Operating Revenues
Service	$	38,956	$	37,051	5.1	%	$	77,460	$	75,934	2.0	%
Equipment	5,089		3,899		30.5	%	10,524		7,795		35.0	%
Total Operating Revenues	44,045		40,950		7.6	%	87,984		83,729		5.1	%

Operating Expenses
Cost of revenues
Equipment	5,341		3,978		34.3	%	10,897		8,070		35.0	%
Broadcast, programming and operations	7,603		5,889		29.1	%	15,141		12,643		19.8	%
Other cost of revenues (exclusive of depreciation and amortization shown separately below)	8,155		8,116		0.5	%	16,148		16,458		(1.9)	%
Selling, general and administrative	9,361		9,831		(4.8)	%	18,743		18,591		0.8	%
Asset impairments and abandonments	4,555		2,319		96.4	%	4,555		2,442		86.5	%
Depreciation and amortization	5,761		7,285		(20.9)	%	11,570		14,507		(20.2)	%
Total Operating Expenses	40,776		37,418		9.0	%	77,054		72,711		6.0	%
Operating Income	3,269		3,532		(7.4)	%	10,930		11,018		(0.8)	%
Interest Expense	1,684		2,041		(17.5)	%	3,554		4,059		(12.4)	%
Equity in Net Income (Loss) of Affiliates	41		(10)		—	%	93		(16)		—	%
Other Income (Expense) — Net	999		1,017		(1.8)	%	5,220		1,820		—	%
Income Before Income Taxes	2,625		2,498		5.1	%	12,689		8,763		44.8	%
Income Tax Expense	751		935		(19.7)	%	2,873		2,237		28.4	%
Net Income	1,874		1,563		19.9	%	9,816		6,526		50.4	%
Less: Net Income Attributable to Noncontrolling Interest	(304)		(282)		(7.8)	%	(696)		(635)		(9.6)	%
Net Income Attributable to AT&T	$	1,570	$	1,281	22.6	%	$	9,120	$	5,891	54.8	%
Less: Preferred Stock Dividends	(56)		(52)		(7.7)	%	(106)		(84)		(26.2)	%
Net Income Attributable to Common Stock	$	1,514	$	1,229	23.2	%	$	9,014	$	5,807	55.2	%

Basic Earnings Per Share Attributable to Common Stock	$	0.21	$	0.17	23.5	%	$	1.25	$	0.81	54.3	%
Weighted Average Common Shares Outstanding (000,000)	7,168		7,145		0.3	%	7,165		7,166		—	%
Diluted Earnings Per Share Attributable to Common Stock	$	0.21	$	0.17	23.5	%	$	1.25	$	0.81	54.3	%
Weighted Average Common Shares Outstanding with Dilution (000,000)	7,200		7,170		0.4	%	7,194		7,192		—	%


AT&T Inc.
Financial Data

Consolidated Balance Sheets
Dollars in millions
Unaudited	Jun. 30,		Dec. 31,
	2021		2020
Assets
Current Assets
Cash and cash equivalents	$	11,869	$	9,740
Accounts receivable – net of related allowances for credit loss of $843 and $1,221	15,771		20,215
Inventories	2,810		3,695
Prepaid and other current assets	32,419		18,358
Total current assets	62,869		52,008
Noncurrent Inventories and Theatrical Film and Television Production Costs	16,271		14,752
Property, Plant and Equipment – Net	123,591		127,315
Goodwill	134,626		135,259
Licenses – Net	87,962		93,840
Trademarks and Trade Names – Net	22,276		23,297
Distribution Networks – Net	12,875		13,793
Other Intangible Assets – Net	12,736		15,386
Investments in and Advances to Equity Affiliates	1,853		1,780
Operating Lease Right-Of-Use Assets	24,390		24,714
Deposits on Wireless Licenses	23,663		—
Other Assets	21,598		23,617
Total Assets	$	544,710	$	525,761
Liabilities and Stockholders’ Equity
Current Liabilities
Debt maturing within one year	$	24,016	$	3,470
Accounts payable and accrued liabilities	49,429		50,051
Advanced billings and customer deposits	4,932		6,176
Dividends payable	3,749		3,741
Total current liabilities	82,126		63,438
Long-Term Debt	155,767		153,775
Deferred Credits and Other Noncurrent Liabilities
Deferred income taxes	61,732		60,472
Postemployment benefit obligation	14,876		18,276
Operating lease liabilities	21,637		22,202
Other noncurrent liabilities	28,726		28,358
Total deferred credits and other noncurrent liabilities	126,971		129,308
Stockholders’ Equity
Preferred stock	—		—
Common stock	7,621		7,621
Additional paid-in capital	129,941		130,175
Retained earnings	38,947		37,457
Treasury stock	(17,332)		(17,910)
Accumulated other comprehensive income	3,119		4,330
Noncontrolling interest	17,550		17,567
Total stockholders’ equity	179,846		179,240
Total Liabilities and Stockholders’ Equity	$	544,710	$	525,761


AT&T Inc.
Financial Data

Consolidated Statements of Cash Flows
Dollars in millions
Unaudited	Six-Month Period
	2021		2020
Operating Activities
Net income	$	9,816	$	6,526
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,570		14,507
Amortization of film and television costs	6,256		3,985
Undistributed earnings from investments in equity affiliates	15		64
Provision for uncollectible accounts	596		1,199
Deferred income tax expense	1,772		653
Net (gain) loss on investments, net of impairments	(237)		(705)
Pension and postretirement benefit expense (credit)	(1,899)		(1,495)
Actuarial (gain) loss on pension and postretirement benefits	(2,647)		—
Asset impairments and abandonments	4,555		2,442
Changes in operating assets and liabilities:
Receivables	1,415		2,522
Other current assets, inventories and theatrical film and television production costs	(6,985)		(5,592)
Accounts payable and other accrued liabilities	(4,298)		(3,847)
Equipment installment receivables and related sales	811		226
Deferred customer contract acquisition and fulfillment costs	410		322
Postretirement claims and contributions	(207)		(228)
Other - net	(106)		346
Total adjustments	11,021		14,399
Net Cash Provided by Operating Activities	20,837		20,925

Investing Activities
Capital expenditures	(7,992)		(9,432)
Acquisitions, net of cash acquired	(23,169)		(1,174)
Dispositions	635		347
Other - net	(105)		(19)
Net Cash Used in Investing Activities	(30,631)		(10,278)

Financing Activities
Net change in short-term borrowings with original maturities of three months or less	76		498
Issuance of other short-term borrowings	16,440		8,440
Repayment of other short-term borrowings	(857)		(5,975)
Issuance of long-term debt	9,097		21,060
Repayment of long-term debt	(1,155)		(17,284)
Payment of vendor financing	(2,994)		(1,354)
Issuance of preferred stock	—		3,869
Purchase of treasury stock	(185)		(5,480)
Issuance of treasury stock	85		84
Dividends paid	(7,571)		(7,474)
Other - net	(1,036)		(2,295)
Net Cash Provided by (Used in) Financing Activities	11,900		(5,911)
Net increase in cash and cash equivalents and restricted cash	2,106		4,736
Cash and cash equivalents and restricted cash beginning of year	9,870		12,295
Cash and Cash Equivalents and Restricted Cash End of Period	$	11,976	$	17,031


			AT&T INC.



Date: July 22, 2021			By: /s/ Debra L. Dial . Debra L. Dial Senior Vice President and Controller


AT&T Inc.
Consolidated Supplementary Data

Supplementary Financial Data
Dollars in millions except per share amounts
Unaudited	Second Quarter				Percent		Six-Month Period						Percent
	2021		2020		Change		2021			2020			Change
Capital expenditures
Purchase of property and equipment	$	3,926	$	4,434	(11.5)	%	$	7,898		$	9,372		(15.7)	%
Interest during construction - capital expenditures	33		32		3.1	%	94			60			56.7	%
Total Capital Expenditures	$	3,959	$	4,466	(11.4)	%	$	7,992		$	9,432		(15.3)	%

Acquisition, net of cash acquired
Business acquisitions	$	18	$	125	(85.6)	%	$	26		$	128		(79.7)	%
Spectrum acquisitions	10		949		(98.9)	%	22,886			1,046			—	%
Interest during construction - spectrum	257		—		—	%	257			—			—	%
Total Acquisitions	$	285	$	1,074	(73.5)	%	$	23,169		$	1,174		—	%

Cash Paid for Programming and Produced Film/TV Content	$	5,261	$	2,897	81.6	%	$	9,769		$	7,219		35.3	%

Dividends Declared per Common Share	$	0.52	$	0.52	—	%	$	1.04		$	1.04		—	%

End of Period Common Shares Outstanding (000,000)							7,140			7,125			0.2	%
Debt Ratio							50.0		%	46.6		%	340	BP
Total Employees							226,840			243,350			(6.8)	%


Segment Results
Dollars in millions
Unaudited	Second Quarter				Percent		Six-Month Period				Percent
	2021		2020		Change		2021		2020		Change
Segment Operating Revenues
Mobility	$	18,936	$	17,149	10.4	%	$	37,970	$	34,551	9.9	%
Business Wireline	6,052		6,305		(4.0)	%	12,098		12,571		(3.8)	%
Consumer Wireline	3,140		3,051		2.9	%	6,238		6,162		1.2	%
Total Segment Operating Revenues	28,128		26,505		6.1	%	56,306		53,284		5.7	%

Segment Operating Contribution
Mobility	6,002		5,805		3.4	%	12,004		11,593		3.5	%
Business Wireline	1,050		1,290		(18.6)	%	2,108		2,383		(11.5)	%
Consumer Wireline	288		393		(26.7)	%	593		913		(35.0)	%
Total Segment Operating Contribution	$	7,340	$	7,488	(2.0)	%	$	14,705	$	14,889	(1.2)	%


Supplementary Operating Data
Subscribers and connections in thousands
Unaudited					June 30,		Percent
					2021	2020	Change
Broadband Connections
IP					14,988	14,548	3.0	%
DSL					493	653	(24.5)	%
Total Broadband Connections					15,481	15,201	1.8	%

Voice Connections
Network Access Lines					6,691	7,878	(15.1)	%
U-verse VoIP Connections					3,559	4,058	(12.3)	%
Total Retail Voice Connections					10,250	11,936	(14.1)	%

	Second Quarter		Percent		Six-Month Period		Percent
	2021	2020	Change		2021	2020	Change
Broadband Net Additions
IP	80	(79)	—	%	170	(111)	—	%
DSL	(34)	(35)	2.9	%	(73)	(77)	5.2	%
Total Broadband Net Additions	46	(114)	—	%	97	(188)	—	%


Mobility Results
Dollars in millions
Unaudited	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Operating Revenues
Service	$	14,346		$	13,669		5.0	%	$	28,394		$	27,637		2.7	%
Equipment	4,590			3,480			31.9	%	9,576			6,914			38.5	%
Total Operating Revenues	18,936			17,149			10.4	%	37,970			34,551			9.9	%

Operating Expenses
Operations and support	10,911			9,332			16.9	%	21,929			18,901			16.0	%
Depreciation and amortization	2,023			2,012			0.5	%	4,037			4,057			(0.5)	%
Total Operating Expenses	12,934			11,344			14.0	%	25,966			22,958			13.1	%
Operating Income	6,002			5,805			3.4	%	12,004			11,593			3.5	%
Equity in Net Income (Loss) of Affiliates	—			—			—	%	—			—			—	%
Operating Contribution	$	6,002		$	5,805		3.4	%	$	12,004		$	11,593		3.5	%

Operating Income Margin	31.7		%	33.9		%	(220)	BP	31.6		%	33.6		%	(200)	BP

Supplementary Operating Data
Subscribers and connections in thousands
Unaudited									June 30,						Percent
									2021			2020			Change
Mobility Subscribers
Postpaid									79,059			74,919			5.5	%
Postpaid phone									65,503			62,882			4.2	%
Prepaid									18,681			18,008			3.7	%
Reseller									6,406			6,718			(4.6)	%
Connected Devices									87,500			71,762			21.9	%
Total Mobility Subscribers									191,646			171,407			11.8	%

	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Mobility Net Additions
Postpaid Phone Net Additions	789			(151)			—	%	1,384			12			—	%
Total Phone Net Additions	963			(16)			—	%	1,765			104			—	%

Postpaid	1,156			(154)			—	%	1,979			(127)			—	%
Prepaid	297			165			80.0	%	576			120			—	%
Reseller	(125)			(58)			—	%	(193)			(248)			22.2	%
Connected Devices	4,209			2,255			86.7	%	6,726			5,773			16.5	%
Total Mobility Net Additions	5,537			2,208			—	%	9,088			5,518			64.7	%

Postpaid Churn	0.87		%	1.05		%	(18) BP		0.90		%	1.06		%	(16) BP
Postpaid Phone-Only Churn	0.69		%	0.84		%	(15) BP		0.73		%	0.85		%	(12) BP


Business Wireline Results
Dollars in millions
Unaudited	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Operating Revenues
Service	$	5,860		$	6,101		(4.0)	%	$	11,732		$	12,192		(3.8)	%
Equipment	192			204			(5.9)	%	366			379			(3.4)	%
Total Operating Revenues	6,052			6,305			(4.0)	%	12,098			12,571			(3.8)	%

Operating Expenses
Operations and support	3,709			3,714			(0.1)	%	7,419			7,601			(2.4)	%
Depreciation and amortization	1,293			1,301			(0.6)	%	2,571			2,587			(0.6)	%
Total Operating Expenses	5,002			5,015			(0.3)	%	9,990			10,188			(1.9)	%
Operating Income	1,050			1,290			(18.6)	%	2,108			2,383			(11.5)	%
Equity in Net Income (Loss) of Affiliates	—			—			—	%	—			—			—	%
Operating Contribution	$	1,050		$	1,290		(18.6)	%	$	2,108		$	2,383		(11.5)	%

Operating Income Margin	17.3		%	20.5		%	(320)	BP	17.4		%	19.0		%	(160)	BP


Consumer Wireline Results
Dollars in millions
Unaudited	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Operating Revenues
Broadband	$	2,266		$	2,092		8.3	%	$	4,471		$	4,201		6.4	%
Legacy voice and data services	504			560			(10.0)	%	1,023			1,141			(10.3)	%
Other service and equipment	370			399			(7.3)	%	744			820			(9.3)	%
Total Operating Revenues	3,140			3,051			2.9	%	6,238			6,162			1.2	%

Operating Expenses
Operations and support	2,083			1,928			8.0	%	4,114			3,807			8.1	%
Depreciation and amortization	769			730			5.3	%	1,531			1,442			6.2	%
Total Operating Expenses	2,852			2,658			7.3	%	5,645			5,249			7.5	%
Operating Income	288			393			(26.7)	%	593			913			(35.0)	%
Equity in Net Income (Loss) of Affiliates	—			—			—	%	—			—			—	%
Operating Contribution	$	288		$	393		(26.7)	%	$	593		$	913		(35.0)	%

Operating Income Margin	9.2		%	12.9		%	(370)	BP	9.5		%	14.8		%	(530)	BP

Supplementary Operating Data
Subscribers and connections in thousands
Unaudited									June 30,						Percent
									2021			2020			Change
Broadband Connections
Total Broadband and DSL Connections									14,174			13,944			1.6	%
Fiber Broadband Connections									5,432			4,321			25.7	%

Voice Connections
Retail Consumer Switched Access Lines									2,631			3,096			(15.0)	%
U-verse Consumer VoIP Connections									2,965			3,480			(14.8)	%
Total Retail Consumer Voice Connections									5,596			6,576			(14.9)	%

	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Broadband Net Additions
Total Broadband and DSL Net Additions	28			(102)			—	%	74			(175)			—	%
Fiber Broadband Net Additions	246			225			9.3	%	481			434			10.8	%


Business Solutions Results
Dollars in millions
Unaudited	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Operating Revenues
Wireless service	$	2,025		$	1,885		7.4	%	$	3,994		$	3,834		4.2	%
Wireline service	5,860			6,101			(4.0)	%	11,732			12,192			(3.8)	%
Wireless equipment	781			585			33.5	%	1,571			1,295			21.3	%
Wireline equipment	192			204			(5.9)	%	366			379			(3.4)	%
Total Operating Revenues	8,858			8,775			0.9	%	17,663			17,700			(0.2)	%

Operating Expenses
Operations and support	5,663			5,360			5.7	%	11,212			11,006			1.9	%
Depreciation and amortization	1,638			1,621			1.0	%	3,252			3,230			0.7	%
Total Operating Expenses	7,301			6,981			4.6	%	14,464			14,236			1.6	%
Operating Income	1,557			1,794			(13.2)	%	3,199			3,464			(7.7)	%
Equity in Net Income (Loss) of Affiliates	—			—			—	%	—			—			—	%
Operating Contribution	$	1,557		$	1,794		(13.2)	%	$	3,199		$	3,464		(7.7)	%

Operating Income Margin	17.6		%	20.4		%	(280)	BP	18.1		%	19.6		%	(150)	BP


Vrio Results
Dollars in millions
Unaudited	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Operating Revenues	$	749		$	752		(0.4)	%	$	1,492		$	1,639		(9.0)	%

Operating Expenses
Operations and support	660			661			(0.2)	%	1,321			1,444			(8.5)	%
Depreciation and amortization	114			127			(10.2)	%	231			274			(15.7)	%
Total Operating Expenses	774			788			(1.8)	%	1,552			1,718			(9.7)	%
Operating Income (Loss)	(25)			(36)			30.6	%	(60)			(79)			24.1	%
Equity in Net Income (Loss) of Affiliates	2			8			(75.0)	%	(2)			12			—	%
Operating Contribution	$	(23)		$	(28)		17.9	%	$	(62)		$	(67)		7.5	%

Operating Income Margin	(3.3)		%	(4.8)		%	150	BP	(4.0)		%	(4.8)		%	80	BP

Supplementary Operating Data
Subscribers and connections in thousands
Unaudited									June 30,						Percent
									2021			2020			Change
Vrio Video Subscribers									10,320			10,664			(3.2)	%

	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Vrio Video Net Additions	(239)			(312)			23.4	%	(622)			(426)			(46.0)	%


Mexico Results
Dollars in millions
Unaudited	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Operating Revenues
Wireless service	$	447		$	345		29.6	%	$	886		$	812		9.1	%
Wireless equipment	241			135			78.5	%	433			371			16.7	%
Total Operating Revenues	688			480			43.3	%	1,319			1,183			11.5	%

Operating Expenses
Operations and support	667			538			24.0	%	1,287			1,252			2.8	%
Depreciation and amortization	150			115			30.4	%	295			249			18.5	%
Total Operating Expenses	817			653			25.1	%	1,582			1,501			5.4	%
Operating Income (Loss)	(129)			(173)			25.4	%	(263)			(318)			17.3	%
Equity in Net Income (Loss) of Affiliates	—			—			—	%	—			—			—	%
Operating Contribution	$	(129)		$	(173)		25.4	%	$	(263)		$	(318)		17.3	%

Operating Income Margin	(18.8)		%	(36.0)		%	1,720	BP	(19.9)		%	(26.9)		%	700	BP

Supplementary Operating Data
Subscribers and connections in thousands
Unaudited									June 30,						Percent
									2021			2020			Change
Mexico Wireless Subscribers
Postpaid									4,745			4,771			(0.5)	%
Prepaid									13,810			12,777			8.1	%
Reseller									491			425			15.5	%
Total Mexico Wireless Subscribers									19,046			17,973			6.0	%

	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Mexico Wireless Net Additions
Postpaid	20			(191)			—	%	49			(332)			—	%
Prepaid	54			(915)			—	%	52			(807)			—	%
Reseller	(9)			21			—	%	2			53			(96.2)	%
Total Mexico Wireless Net Additions	65			(1,085)			—	%	103			(1,086)			—	%


Segment Results
Dollars in millions
Unaudited	Second Quarter				Percent		Six-Month Period				Percent
	2021		2020		Change		2021		2020		Change
Segment Operating Revenues
Subscription	$	3,961	$	3,265	21.3	%	$	7,791	$	6,665	16.9	%
Content and other	3,091		2,292		34.9	%	6,050		5,192		16.5	%
Advertising	1,739		1,171		48.5	%	3,476		2,636		31.9	%
Total Segment Operating Revenues	8,791		6,728		30.7	%	17,317		14,493		19.5	%

Direct Costs
Programming	4,154		2,375		74.9	%	7,928		5,457		45.3	%
Marketing	983		545		80.4	%	1,833		1,095		67.4	%
Other	854		820		4.1	%	1,667		1,595		4.5	%
General and administrative	943		916		2.9	%	1,909		2,114		(9.7)	%
Depreciation and amortization	165		164		0.6	%	328		325		0.9	%
Total Operating Expenses	7,099		4,820		47.3	%	13,665		10,586		29.1	%
Operating Income	1,692		1,908		(11.3)	%	3,652		3,907		(6.5)	%
Equity in Net Income (Loss) of Affiliates	47		4		—	%	117		19		—	%
Total Segment Operating Contribution	$	1,739	$	1,912	(9.0)	%	$	3,769	$	3,926	(4.0)	%


Video Results
Dollars in millions
Unaudited	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Operating Revenues
Service	$	6,607		$	6,979		(5.3)	%	$	13,291		$	14,376		(7.5)	%
Equipment	32			42			(23.8)	%	73			52			40.4	%
Total Operating Revenues	6,639			7,021			(5.4)	%	13,364			14,428			(7.4)	%

Operating Expenses
Operations and support	5,275			5,809			(9.2)	%	10,935			11,829			(7.6)	%
Depreciation and amortization1	148			593			(75.0)	%	312			1,184			(73.6)	%
Total Operating Expenses	5,423			6,402			(15.3)	%	11,247			13,013			(13.6)	%
Operating Income	1,216			619			96.4	%	2,117			1,415			49.6	%
Equity in Net Income (Loss) of Affiliates	—			—			—	%	—			—			—	%
Operating Contribution	$	1,216		$	619		96.4	%	$	2,117		$	1,415		49.6	%

Operating Income Margin	18.3		%	8.8		%	950	BP	15.8		%	9.8		%	600	BP
1Includes depreciation on assets that support AT&T U-verse products that provide both video and broadband services to customers over a shared network infrastructure.

Supplementary Operating Data
Subscribers and connections in thousands
Unaudited									June 30,						Percent
									2021			2020			Change
Premium TV Connections									15,412			17,712			(13.0)	%

	Second Quarter						Percent		Six-Month Period						Percent
	2021			2020			Change		2021			2020			Change
Premium TV Net Additions	(473)			(887)			46.7	%	(1,093)			(1,784)			38.7	%


Three Months Ended
Dollars in millions
Unaudited
June 30, 2021
	Revenues		Operations and Support Expenses		EBITDA		Depreciation and Amortization		Operating Income (Loss)		Equity in Net Income (Loss) of Affiliates		Segment Contribution
Communications
Mobility	$	18,936	$	10,911	$	8,025	$	2,023	$	6,002	$	—	$	6,002
Business Wireline	6,052		3,709		2,343		1,293		1,050		—		1,050
Consumer Wireline	3,140		2,083		1,057		769		288		—		288
Total Communications	28,128		16,703		11,425		4,085		7,340		—		7,340





WarnerMedia	8,791		6,934		1,857		165		1,692		47		1,739
Latin America
Vrio	749		660		89		114		(25)		2		(23)
Mexico	688		667		21		150		(129)		—		(129)
Total Latin America	1,437		1,327		110		264		(154)		2		(152)
Segment Total	38,356		24,964		13,392		4,514		8,878		$	49	$	8,927
Corporate and Other
Corporate	361		1,160		(799)		30		(829)
Video	6,639		5,275		1,364		148		1,216
Acquisition-related items	—		—		—		1,069		(1,069)
Certain significant items	—		4,555		(4,555)		—		(4,555)
Eliminations and consolidations	(1,311)		(939)		(372)		—		(372)
AT&T Inc.	$	44,045	$	35,015	$	9,030	$	5,761	$	3,269


Six Months Ended
Dollars in millions
Unaudited
June 30, 2021
	Revenues		Operations and Support Expenses		EBITDA		Depreciation and Amortization		Operating Income (Loss)		Equity in Net Income (Loss) of Affiliates		Segment Contribution
Communications
Mobility	$	37,970	$	21,929	$	16,041	$	4,037	$	12,004	$	—	$	12,004
Business Wireline	12,098		7,419		4,679		2,571		2,108		—		2,108
Consumer Wireline	6,238		4,114		2,124		1,531		593		—		593
Total Communications	56,306		33,462		22,844		8,139		14,705		—		14,705





WarnerMedia	17,317		13,337		3,980		328		3,652		117		3,769
Latin America
Vrio	1,492		1,321		171		231		(60)		(2)		(62)
Mexico	1,319		1,287		32		295		(263)		—		(263)
Total Latin America	2,811		2,608		203		526		(323)		(2)		(325)
Segment Total	76,434		49,407		27,027		8,993		18,034		$	115	$	18,149
Corporate and Other
Corporate	787		2,373		(1,586)		65		(1,651)
Video	13,364		10,935		2,429		312		2,117
Acquisition-related items	—		37		(37)		2,200		(2,237)
Certain significant items	—		4,612		(4,612)		—		(4,612)
Eliminations and consolidations	(2,601)		(1,880)		(721)		—		(721)
AT&T Inc.	$	87,984	$	65,484	$	22,500	$	11,570	$	10,930



Supplemental Operational Measure
	Second Quarter
	June 30, 2021								June 30, 2020
	Mobility		Business Wireline		Adjustments1		Business Solutions		Mobility		Business Wireline		Adjustments1		Business Solutions
Operating Revenues
Wireless service	$	14,346	$	—	$	(12,321)	$	2,025	$	13,669	$	—	$	(11,784)	$	1,885
Wireline service	—		5,860		—		5,860		—		6,101		—		6,101
Wireless equipment	4,590		—		(3,809)		781		3,480		—		(2,895)		585
Wireline equipment	—		192		—		192		—		204		—		204
Total Operating Revenues	18,936		6,052		(16,130)		8,858		17,149		6,305		(14,679)		8,775

Operating Expenses
Operations and support	10,911		3,709		(8,957)		5,663		9,332		3,714		(7,686)		5,360
EBITDA	8,025		2,343		(7,173)		3,195		7,817		2,591		(6,993)		3,415
Depreciation and amortization	2,023		1,293		(1,678)		1,638		2,012		1,301		(1,692)		1,621
Total Operating Expenses	12,934		5,002		(10,635)		7,301		11,344		5,015		(9,378)		6,981
Operating Income	6,002		1,050		(5,495)		1,557		5,805		1,290		(5,301)		1,794
Equity in Net Income (Loss) of Affiliates	—		—		—		—		—		—		—		—
Operating Contribution	$	6,002	$	1,050	$	(5,495)	$	1,557	$	5,805	$	1,290	$	(5,301)	$	1,794
1Non-business wireless reported in the Communication segment under the Mobility business unit.
Results have been recast to conform to the current period's classification.