EX-99 2 cingexh99.txt CINGULAR PROFORMA 1Q2000 AND 2001 BellSouth Corporation (Amounts in millions) (unaudited) ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Cingular Wireless - (Pro Forma Combined Statements of Income - Normalized) ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- In October 2000, BellSouth combined substantially all of its domestic wireless operations with those of SBC Communications to form Cingular Wireless. In the following table, we present 100% Cingular Pro Forma Income and Operating data. We believe that this presentation provides meaningful comparative information for existing operations; we cannot, however, assure you that the amounts shown below would have been achieved if Cingular had actually been in operation during the periods presented. Quarter Ended ----------------------------- 3/31/01 3/31/00 % Change ----------------------------- Operating Revenues Service Revenues $3,065 $2,669 14.8% Equipment Revenues 268 240 11.7% ------------------------------------------ ----------------------------- Total Operating Revenues 3,333 2,909 14.6% ------------------------------------------ ----------------------------- Operating Expenses Operational and Support 2,361 1,976 19.5% Depreciation and Amortization 474 495 (4.2%) ------------------------------------------ ----------------------------- Total Operating Expenses 2,835 2,471 14.8% ------------------------------------------ ----------------------------- Operating Income 498 438 13.6% ------------------------------------------ ----------------------------- Interest Expense 207 214 (3.2%) Other Income (Expense), Net 53 (26) N/M ------------------------------------------ ----------------------------- Income Before Income Tax 344 198 73.6% ------------------------------------------ ----------------------------- ------------------------------------------------------------------------- ------------------------------------------------------------------------- Selected Financial and Operating Data ------------------------------------------------------------------------- ------------------------------------------------------------------------- Quarter Ended ----------------------------- 3/31/01 3/31/00 % Change ----------------------------- EBITDA $972 $933 4.2% EBITDA margin (1) 31.7% 35.0% -330bps Total Cellular/PCS Customers (000) 20,535 17,294 18.7% Net Customer Additions - Cellular/PCS (000) 854 695 22.9% Wireless Service ARPU - Cellular/PCS (2) $50.32 $52.24 (3.7%) POPs - Cellular/PCS 192 192 0.0% Penetration - Cellular/PCS 10.7% 9.0% +170bps Total Cingular Interactive Customers (000) 657 302 117.8% Net Customers Additions - Cingular Interactive (000) 84 79 5.2% -------------------------------------------- ----------------------------- -------------------------------------------- ----------------------------- Notes: 1 EBITDA margin denominator includes Wireless Service Revenues only 2 ARPU excludes Cingular Interactive ------------------------------------------------------------------------------- BellSouth Corporation Cingular Wireless Pro Forma Consolidated Balance Sheet Dollars in millions Unaudited As of 3/31/01 ------------------------------------------------------------------- Assets Current Assets Cash and cash equivalents 163 Accounts receivable - net of allowances for uncollectibles 1,523 Inventory 206 Prepaid expenses and other current assets 129 Total current assets 2,021 Property, Plant and Equipment - Net 8,505 Intangible Assets - Net 8,985 Other Assets 611 ------------------------------------------------------------------- Total Assets 20,122 =================================================================== =================================================================== Liabilities and Partners' Equity Current Liabilities Debt maturing within one year 816 Accounts payable and accrued liabilities 2,887 Total current liabilities 3,703 ------------------------------------------------------------------- Long-Term Debt to Affiliates 9,876 Long-Term Debt to External Parties 867 ------------------------------------------------------------------- Deferred Credits and Other Noncurrent Liabilities Deferred income taxes 187 Minority interest 572 Other noncurrent liabilities 193 ------------------------------------------------------------------- Total deferred credits and other noncurrent liabilities 952 ------------------------------------------------------------------- Partners' Capital 4,724 ------------------------------------------------------------------- Total Liabilities and Partners' Capital 20,122 ===================================================================