EX-99.2 3 t-4q2021exhibit992.htm EX99.2 AT&T SELECTED FINANCIAL STATEMENTS AND OPERATING DATA Document

AT&T Inc.   
Financial Data   
Consolidated Statements of Income
Dollars in millions except per share amounts
UnauditedFourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Operating Revenues
Service$34,088 $39,051 (12.7)%$146,391 $152,767 (4.2)%
Equipment6,870 6,640 3.5 %22,473 18,993 18.3 %
Total Operating Revenues40,958 45,691 (10.4)%168,864 171,760 (1.7)%
Operating Expenses
Cost of revenues
Equipment7,454 7,084 5.2 %23,778 19,706 20.7 %
Broadcast, programming and operations4,906 7,750 (36.7)%24,797 27,305 (9.2)%
Other cost of revenues (exclusive of
depreciation and amortization shown
separately below)
7,435 8,076 (7.9)%31,232 32,909 (5.1)%
Selling, general and administrative9,994 10,182 (1.8)%37,944 38,039 (0.2)%
Asset impairments and abandonments188 16,365 (98.9)%4,904 18,880 (74.0)%
Depreciation and amortization5,673 6,979 (18.7)%22,862 28,516 (19.8)%
Total Operating Expenses35,650 56,436 (36.8)%145,517 165,355 (12.0)%
Operating Income (Loss)5,308 (10,745)— %23,347 6,405 — %
Interest Expense1,663 1,894 (12.2)%6,884 7,925 (13.1)%
Equity in Net Income of Affiliates447 106 — %631 95 — %
Other Income (Expense) — Net2,354 (3,020)— %9,853 (1,431)— %
Income (Loss) Before Income Taxes6,446 (15,553)— %26,947 (2,856)— %
Income Tax (Benefit) Expense1,056 (2,038)— %5,468 965 — %
Net Income (Loss)5,390 (13,515)— %21,479 (3,821)— %
Less: Net Income Attributable to
    Noncontrolling Interest
(347)(368)5.7 %(1,398)(1,355)(3.2)%
Net Income (Loss) Attributable to AT&T$5,043 $(13,883)— %$20,081 $(5,176)— %
Less: Preferred Stock Dividends(51)(55)7.3 %(207)(193)(7.3)%
Net Income (Loss) Attributable
   to Common Stock
$4,992 $(13,938)— %$19,874 $(5,369)— %
Basic Earnings Per Share Attributable
   to Common Stock
$0.69 $(1.95)— %$2.77 $(0.75)— %
Weighted Average Common
    Shares Outstanding (000,000)
7,172 7,150 0.3 %7,168 7,157 0.2 %
Diluted Earnings Per Share Attributable
    to Common Stock
$0.69 $(1.95)— %$2.76 $(0.75)— %
Weighted Average Common 
    Shares Outstanding with Dilution (000,000)
7,204 7,176 0.4 %7,199 7,183 0.2 %
1


AT&T Inc.  
Financial Data  
Consolidated Balance Sheets
Dollars in millions
UnauditedDec. 31,Dec. 31,
20212020
Assets
Current Assets
Cash and cash equivalents$21,169 $9,740 
Accounts receivable – net of related allowance for credit loss of $771 and $1,22117,571 20,215 
Inventories3,464 3,695 
Prepaid and other current assets17,793 18,358 
Total current assets59,997 52,008 
Noncurrent Inventories and Theatrical Film and Television Production Costs18,983 14,752 
Property, Plant and Equipment – Net125,904 127,315 
Goodwill133,223 135,259 
Licenses – Net113,830 93,840 
Trademarks and Trade Names – Net21,938 23,297 
Distribution Networks – Net11,942 13,793 
Other Intangible Assets – Net11,783 15,386 
Investments in and Advances to Equity Affiliates7,274 1,780 
Operating Lease Right-Of-Use Assets24,180 24,714 
Other Assets22,568 23,617 
Total Assets$551,622 $525,761 
Liabilities and Stockholders’ Equity
Current Liabilities
Debt maturing within one year$24,630 $3,470 
Note payable to DIRECTV1,245 — 
Accounts payable and accrued liabilities50,661 50,051 
Advanced billings and customer deposits5,303 6,176 
Dividends payable3,749 3,741 
Total current liabilities85,588 63,438 
Long-Term Debt152,724 153,775 
Deferred Credits and Other Noncurrent Liabilities
Deferred income taxes64,871 60,472 
Postemployment benefit obligation12,649 18,276 
Operating lease liabilities21,261 22,202 
Other noncurrent liabilities30,578 28,358 
Noncurrent portion of note payable to DIRECTV96 — 
Total deferred credits and other noncurrent liabilities129,455 129,308 
Stockholders’ Equity
Preferred stock — 
Common stock7,621 7,621 
Additional paid-in capital130,112 130,175 
Retained earnings42,350 37,457 
Treasury stock(17,280)(17,910)
Accumulated other comprehensive income3,529 4,330 
Noncontrolling interest17,523 17,567 
Total stockholders’ equity183,855 179,240 
Total Liabilities and Stockholders’ Equity$551,622 $525,761 
2


AT&T Inc.  
Financial Data  
Consolidated Statements of Cash Flows
Dollars in millions
UnauditedYear Ended
20212020
Operating Activities
Net income (loss)$21,479 $(3,821)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization22,862 28,516 
Amortization of film and television costs11,006 8,603 
Distributed (undistributed) earnings from investments in equity affiliates184 38 
Provision for uncollectible accounts1,240 1,972 
Deferred income tax expense5,246 1,675 
Net (gain) loss on investments, net of impairments(927)(742)
Pension and postretirement benefit expense (credit)(3,848)(2,992)
Actuarial (gain) loss on pension and postretirement benefits(4,140)4,169 
Asset impairments and abandonments4,904 18,880 
Changes in operating assets and liabilities:
Receivables(634)2,216 
Other current assets, inventories and theatrical film and television production costs(16,472)(13,070)
Accounts payable and other accrued liabilities1,636 (1,410)
Equipment installment receivables and related sales(265)(1,429)
Deferred customer contract acquisition and fulfillment costs52 376 
Postretirement claims and contributions(822)(985)
Other - net456 1,134 
Total adjustments20,478 46,951 
Net Cash Provided by Operating Activities41,957 43,130 
Investing Activities
Capital expenditures(16,527)(15,675)
Acquisitions, net of cash acquired(25,453)(1,851)
Dispositions8,740 3,641 
Distributions from DIRECTV in excess of cumulative equity in earnings1,323 — 
Other - net(172)337 
Net Cash Used in Investing Activities(32,089)(13,548)
Financing Activities
Net change in short-term borrowings with original maturities of three months or less1,316 (17)
Issuance of other short-term borrowings21,856 9,440 
Repayment of other short-term borrowings(7,510)(9,467)
Issuance of long-term debt9,931 31,988 
Repayment of long-term debt(3,142)(39,964)
Note payable to DIRECTV, net of payments of $4591,341 — 
Payment of vendor financing(4,596)(2,966)
Issuance of preferred stock 3,869 
Purchase of treasury stock(202)(5,498)
Issuance of treasury stock96 105 
Issuance of preferred interests in subsidiaries 1,979 
Redemption of preferred interest in subsidiaries (1,950)
Dividends paid(15,068)(14,956)
Other - net(2,444)(4,570)
Net Cash Provided by (Used in) Financing Activities1,578 (32,007)
Net increase (decrease) in cash and cash equivalents and restricted cash11,446 (2,425)
Cash and cash equivalents and restricted cash beginning of year9,870 12,295 
Cash and Cash Equivalents and Restricted Cash End of Year$21,316 $9,870 

3


AT&T Inc.
Consolidated Supplementary Data
Supplementary Financial Data
Dollars in millions except per share amounts
UnauditedFourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Capital expenditures
Purchase of property and equipment$3,790 $2,361 60.5 %$16,354 $15,552 5.2 %
Interest during construction41 31 32.3 %173 123 40.7 %
Total Capital Expenditures$3,831 $2,392 60.2 %$16,527 $15,675 5.4 %
Acquisition, net of cash acquired
Business acquisitions$ $85 — %$ $238 — %
Spectrum acquisitions1,655 551 — %24,672 1,613 — %
Interest during construction - spectrum265 — — %781 — — %
Total Acquisitions$1,920 $636 — %$25,453 $1,851 — %
Cash Paid for Programming and Produced Film/TV Content$4,602 $4,617 (0.3)%$19,164 $14,898 28.6 %
Dividends Declared per Common Share$0.52 $0.52 — %$2.08 $2.08 — %
End of Period Common Shares Outstanding (000,000)7,141 7,126 0.2 %
Debt Ratio49.1 %46.7 %240  BP
Total Employees202,600 230,760 (12.2)%

4


COMMUNICATIONS SEGMENT

The Communications segment provides wireless and wireline telecom and broadband services to consumers located in the U.S. and businesses globally. The Communications segment contains three reporting units: Mobility, Business Wireline, and Consumer Wireline.

Results have been recast to remove the Video business, instead reporting those results in Corporate and Other.
Segment Results
Dollars in millions
UnauditedFourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Segment Operating Revenues
Mobility$21,146 $20,119 5.1 %$78,254 $72,564 7.8 %
Business Wireline5,901 6,251 (5.6)%23,937 25,083 (4.6)%
Consumer Wireline3,159 3,116 1.4 %12,539 12,318 1.8 %
Total Segment Operating Revenues30,206 29,486 2.4 %114,730 109,965 4.3 %
Segment Operating Contribution
Mobility5,353 5,088 5.2 %23,312 22,372 4.2 %
Business Wireline897 997 (10.0)%3,990 4,564 (12.6)%
Consumer Wireline201 275 (26.9)%977 1,377 (29.0)%
Total Segment Operating Contribution$6,451 $6,360 1.4 %$28,279 $28,313 (0.1)%

Supplementary Operating Data
Subscribers and connections in thousands
UnauditedDecember 31,Percent
20212020Change
Broadband Connections
Broadband15,074 14,818 1.7 %
DSL430 566 (24.0)%
Total Broadband Connections15,504 15,384 0.8 %
Voice Connections
Retail Consumer Switched Access Lines6,177 7,263 (15.0)%
U-verse Consumer VoIP Connections3,333 3,816 (12.7)%
Total Retail Consumer Voice Connections9,510 11,079 (14.2)%
Fourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Broadband Net Additions
Broadband24 57 (57.9)%256 159 61.0 %
DSL(30)(48)37.5 %(136)(164)17.1 %
Total Broadband Net Additions(6)— %120 (5)— %

5


Mobility

Mobility provides nationwide wireless service and equipment.
Mobility Results
Dollars in millions
UnauditedFourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Operating Revenues
Service$14,669 $14,022 4.6 %$57,590 $55,542 3.7 %
Equipment6,477 6,097 6.2 %20,664 17,022 21.4 %
Total Operating Revenues21,146 20,119 5.1 %78,254 72,564 7.8 %
Operating Expenses
Operations and support13,743 13,023 5.5 %46,820 42,106 11.2 %
Depreciation and amortization2,050 2,008 2.1 %8,122 8,086 0.4 %
Total Operating Expenses15,793 15,031 5.1 %54,942 50,192 9.5 %
Operating Income5,353 5,088 5.2 %23,312 22,372 4.2 %
Equity in Net Income (Loss) of Affiliates — — % — — %
Operating Contribution$5,353 $5,088 5.2 %$23,312 $22,372 4.2 %
Operating Income Margin25.3 %25.3 %—  BP29.8 %30.8 %(100) BP
Supplementary Operating Data
Subscribers and connections in thousands
UnauditedDecember 31,Percent
20212020Change
Mobility Subscribers
Postpaid81,534 77,154 5.7 %
Postpaid phone67,260 64,216 4.7 %
Prepaid19,028 18,102 5.1 %
Reseller6,113 6,535 (6.5)%
Connected Devices95,116 80,767 17.8 %
Total Mobility Subscribers201,791 182,558 10.5 %
Fourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Mobility Net Additions
Postpaid Phone Net Additions884 800 10.5 %3,196 1,457 — %
Total Phone Net Additions908 760 19.5 %3,850 1,640 — %
Postpaid1,285 1,229 4.6 %4,482 2,183 — %
Prepaid29 14 — %956 379 — %
Reseller(177)(197)10.2 %(534)(449)(18.9)%
Connected Devices4,134 4,809 (14.0)%14,328 14,785 (3.1)%
Total Mobility Net Additions5,271 5,855 (10.0)%19,232 16,898 13.8 %
Postpaid Churn1.02 %0.94 %BP0.94 %0.98 %(4) BP
Postpaid Phone-Only Churn0.85 %0.76 %BP0.76 %0.79 %(3) BP






6


Business Wireline

Business Wireline provides advanced IP-based services, as well as traditional data services to business customers.

Results have been recast to characterize revenues as either service or equipment, consistent with the way we are managing the business unit.
Business Wireline Results
Dollars in millions
UnauditedFourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Operating Revenues
Service$5,727 $6,042 (5.2)%$23,224 $24,313 (4.5)%
Equipment174 209 (16.7)%713 770 (7.4)%
Total Operating Revenues5,901 6,251 (5.6)%23,937 25,083 (4.6)%
Operating Expenses
Operations and support3,687 3,938 (6.4)%14,755 15,303 (3.6)%
Depreciation and amortization1,317 1,316 0.1 %5,192 5,216 (0.5)%
Total Operating Expenses5,004 5,254 (4.8)%19,947 20,519 (2.8)%
Operating Income897 997 (10.0)%3,990 4,564 (12.6)%
Equity in Net Income (Loss) of Affiliates — — % — — %
Operating Contribution$897 $997 (10.0)%$3,990 $4,564 (12.6)%
Operating Income Margin15.2 %15.9 %(70) BP16.7 %18.2 %(150) BP
7


Consumer Wireline

Consumer Wireline provides internet, including broadband fiber, and voice communication services primarily to residential customers.

Results have been recast to refine the allocation of shared infrastructure and deferred customer acquisition costs between Consumer Wireline and Video.
Consumer Wireline Results
Dollars in millions
UnauditedFourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Operating Revenues
Broadband$2,324 $2,205 5.4 %$9,085 $8,534 6.5 %
Legacy voice and data services470 534 (12.0)%1,977 2,213 (10.7)%
Other service and equipment365 377 (3.2)%1,477 1,571 (6.0)%
Total Operating Revenues3,159 3,116 1.4 %12,539 12,318 1.8 %
Operating Expenses
Operations and support2,169 2,103 3.1 %8,467 8,027 5.5 %
Depreciation and amortization789 738 6.9 %3,095 2,914 6.2 %
Total Operating Expenses2,958 2,841 4.1 %11,562 10,941 5.7 %
Operating Income201 275 (26.9)%977 1,377 (29.0)%
Equity in Net Income (Loss) of Affiliates — — % — — %
Operating Contribution$201 $275 (26.9)%$977 $1,377 (29.0)%
Operating Income Margin6.4 %8.8 %(240) BP7.8 %11.2 %(340) BP
    
Supplementary Operating Data
Subscribers and connections in thousands
UnauditedDecember 31,Percent
20212020Change
Broadband Connections
Total Broadband and DSL Connections14,160 14,100 0.4 %
Fiber Broadband Connections5,992 4,951 21.0 %
Voice Connections
Retail Consumer Switched Access Lines2,423 2,862 (15.3)%
U-verse Consumer VoIP Connections2,736 3,231 (15.3)%
Total Retail Consumer Voice Connections5,159 6,093 (15.3)%
Fourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Broadband Net Additions
Total Broadband and DSL Net Additions(20)(2)— %60 (19)— %
    Fiber Broadband Net Additions271 273 (0.7)%1,041 1,064 (2.2)%
8


Business Solutions

As a supplemental presentation to our Communications segment operating results, we are providing a view of our AT&T Business Solutions results which includes both wireless and fixed operations. This combined view presents a complete profile of the entire business customer relationship and underscores the importance of mobile solutions to serving our business customers.

Results have been recast to conform to the current period's classification of revenues.
Business Solutions Results
Dollars in millions
UnauditedFourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Operating Revenues
Wireless service$2,108 $1,948 8.2 %$8,161 $7,732 5.5 %
Wireline service5,727 6,042 (5.2)%23,224 24,313 (4.5)%
Wireless equipment1,030 925 11.4 %3,414 2,882 18.5 %
Wireline equipment174 209 (16.7)%713 770 (7.4)%
Total Operating Revenues9,039 9,124 (0.9)%35,512 35,697 (0.5)%
Operating Expenses
Operations and support6,011 6,035 (0.4)%22,826 22,482 1.5 %
Depreciation and amortization1,667 1,638 1.8 %6,570 6,500 1.1 %
Total Operating Expenses7,678 7,673 0.1 %29,396 28,982 1.4 %
Operating Income1,361 1,451 (6.2)%6,116 6,715 (8.9)%
Equity in Net Income (Loss) of Affiliates — — % — — %
Operating Contribution$1,361 $1,451 (6.2)%$6,116 $6,715 (8.9)%
Operating Income Margin15.1 %15.9 %(80) BP17.2 %18.8 %(160) BP

9


WARNERMEDIA SEGMENT

The WarnerMedia segment develops, produces and distributes feature films, television, gaming and other content in various physical and digital formats globally. WarnerMedia content is distributed through basic networks, Direct-to-Consumer (DTC) or theatrical, TV content and games licensing. Segment results also include Xandr advertising and Otter Media Holdings. We disposed of substantially all Otter Media assets in the third quarter of 2021. Additional information is provided as part of the earnings material on the company's Investor Relations website.
Segment Results
Dollars in millions
UnauditedFourth QuarterPercentYear EndedPercent
20212020Change20212020Change
Segment Operating Revenues
Subscription$3,817 $3,623 5.4 %$15,596 $13,765 13.3 %
Content and other4,411 3,042 45.0 %13,514 10,552 28.1 %
Advertising1,645 1,889 (12.9)%6,522 6,125 6.5 %
Total Segment Operating Revenues9,873 8,554 15.4 %35,632 30,442 17.0 %
Direct Costs
Programming4,290 3,040 41.1 %15,286 11,678 30.9 %
Marketing1,208 779 55.1 %4,137 2,529 63.6 %
Other1,059 882 20.1 %3,658 3,211 13.9 %
Selling, general and administrative1,572 1,134 38.6 %4,656 4,161 11.9 %
Depreciation and amortization165 177 (6.8)%656 671 (2.2)%
Total Operating Expenses8,294 6,012 38.0 %28,393 22,250 27.6 %
Operating Income1,579 2,542 (37.9)%7,239 8,192 (11.6)%
Equity in Net Income (Loss) of Affiliates(6)(13)53.8 %38 18 — %
Total Segment Operating Contribution$1,573 $2,529 (37.8)%$7,277 $8,210 (11.4)%

LATIN AMERICA SEGMENT

The Latin America segment provides entertainment and wireless service outside of the U.S. Our international subsidiaries conduct business in their local currency and operating results are converted to U.S. dollars using official exchange rates. The Latin America segment contains two business units: Mexico and Vrio, which was sold in November 2021.
Segment Results
Dollars in millions  
UnauditedFourth QuarterPercentYear EndedPercent
 20212020Change20212020Change
Segment Operating Revenues   
Mexico$704 $736 (4.3)%$2,747 $2,562 7.2 %
Vrio359 762 (52.9)%2,607 3,154 (17.3)%
Total Segment Operating Revenues1,063 1,498 (29.0)%5,354 5,716 (6.3)%
Segment Operating Contribution
Mexico(117)(126)7.1 %(510)(587)13.1 %
Vrio37 (41)— %80 (142)— %
  Total Segment Operating Contribution$(80)$(167)52.1 %$(430)$(729)41.0 %

10


Mexico

Mexico provides wireless services and equipment to customers in Mexico.
Mexico Results
Dollars in millions  
UnauditedFourth QuarterPercentYear EndedPercent
 20212020Change20212020Change
Operating Revenues    
Wireless service$485 $459 5.7 %$1,834 $1,656 10.7 %
Wireless equipment219 277 (20.9)%913 906 0.8 %
Total Operating Revenues704 736 (4.3)%2,747 2,562 7.2 %
Operating Expenses
Operations and support668 722 (7.5)%2,652 2,636 0.6 %
Depreciation and amortization153 140 9.3 %605 513 17.9 %
Total Operating Expenses821 862 (4.8)%3,257 3,149 3.4 %
Operating Income (Loss)(117)(126)7.1 %(510)(587)13.1 %
Equity in Net Income (Loss) of Affiliates — — % — — %
Operating Contribution$(117)$(126)7.1 %$(510)$(587)13.1 %
Operating Income Margin(16.6)%(17.1)%50  BP(18.6)%(22.9)%430  BP
Supplementary Operating Data
Subscribers and connections in thousands  
UnauditedDecember 31,Percent
 20212020Change
Mexico Wireless Subscribers
Postpaid4,807 4,696 2.4 %
Prepaid15,057 13,758 9.4 %
Reseller498 489 1.8 %
Total Mexico Wireless Subscribers20,362 18,943 7.5 %
 Fourth QuarterPercentYear EndedPercent
 20212020Change20212020Change
Mexico Wireless Net Additions
Postpaid26 (14)— %111 (407)— %
Prepaid858 509 68.6 %1,299 174 — %
Reseller5 34 (85.3)%9 118 (92.4)%
Total Mexico Wireless Net Additions889 529 68.1 %1,419 (115)— %
11


Vrio

Vrio provides entertainment services to customers utilizing satellite technology in Latin America and the Caribbean. Vrio was sold to Grupo Werthein in November 2021.
Vrio Results
Dollars in millions  
UnauditedFourth QuarterPercentYear EndedPercent
 20212020Change20212020Change
Operating Revenues$359 $762 (52.9)%$2,607 $3,154 (17.3)%
Operating Expenses
Operations and support321 681 (52.9)%2,302 2,800 (17.8)%
Depreciation and amortization 120 — %231 520 (55.6)%
Total Operating Expenses321 801 (59.9)%2,533 3,320 (23.7)%
Operating Income (Loss)38 (39)— %74 (166)— %
Equity in Net Income (Loss) of Affiliates(1)(2)50.0 %6 24 (75.0)%
Operating Contribution$37 $(41)— %$80 $(142)— %
Operating Income Margin10.6 %(5.1)%1,570  BP2.8 %(5.3)%810  BP

12


SUPPLEMENTAL SEGMENT RECONCILIATION
Three Months Ended
Dollars in millions
Unaudited
December 31, 2021
RevenuesOperations
and Support
Expenses
EBITDADepreciation
and
Amortization
Operating
Income (Loss)
Equity in Net
Income (Loss) of
Affiliates
Segment
Contribution
Communications
Mobility$21,146 $13,743 $7,403 $2,050 $5,353 $ $5,353 
Business Wireline5,901 3,687 2,214 1,317 897  897 
Consumer Wireline3,159 2,169 990 789 201  201 
Total Communications30,206 19,599 10,607 4,156 6,451  6,451 
WarnerMedia9,873 8,129 1,744 165 1,579 (6)1,573 
Latin America
Mexico704 668 36 153 (117) (117)
Vrio359 321 38  38 (1)37 
Total Latin America1,063 989 74 153 (79)(1)(80)
Segment Total41,142 28,717 12,425 4,474 7,951 $(7)$7,944 
Corporate and Other
Corporate199 1,323 (1,124)178 (1,302)
Video     
Acquisition-related items 132 (132)1,021 (1,153)
Certain significant items 188 (188) (188)
Eliminations and
consolidations
(383)(383)   
AT&T Inc.$40,958 $29,977 $10,981 $5,673 $5,308 
13


Three Months Ended
Dollars in millions
Unaudited
December 31, 2020
RevenuesOperations and Support ExpensesEBITDADepreciation and AmortizationOperating Income (Loss)Equity in Net
Income (Loss) of
Affiliates
Segment Contribution
Communications
Mobility$20,119 $13,023 $7,096 $2,008 $5,088 $— $5,088 
Business Wireline6,251 3,938 2,313 1,316 997 — 997 
Consumer Wireline3,116 2,103 1,013 738 275 — 275 
Total Communications29,486 19,064 10,422 4,062 6,360 — 6,360 
WarnerMedia8,554 5,835 2,719 177 2,542 (13)2,529 
Latin America
Mexico736 722 14 140 (126)— (126)
Vrio762 681 81 120 (39)(2)(41)
Total Latin America1,498 1,403 95 260 (165)(2)(167)
Segment Total39,538 26,302 13,236 4,499 8,737 $(15)$8,722 
Corporate and Other
Corporate456 949 (493)56 (549)
Video7,168 6,458 710 521 189 
Acquisition-related items— 37 (37)1,890 (1,927)
Certain significant items— 16,617 (16,617)14 (16,631)
Eliminations and
consolidations
(1,471)(906)(565)(1)(564)
AT&T Inc.$45,691 $49,457 $(3,766)$6,979 $(10,745)

14


SUPPLEMENTAL SEGMENT RECONCILIATION
Year Ended
Dollars in millions
Unaudited
December 31, 2021
RevenuesOperations
and Support
Expenses
EBITDADepreciation
and
Amortization
Operating
Income (Loss)
Equity in Net
Income (Loss) of
Affiliates
Segment
Contribution
Communications
Mobility$78,254 $46,820 $31,434 $8,122 $23,312 $ $23,312 
Business Wireline23,937 14,755 9,182 5,192 3,990  3,990 
Consumer Wireline12,539 8,467 4,072 3,095 977  977 
Total Communications114,730 70,042 44,688 16,409 28,279  28,279 
WarnerMedia35,632 27,737 7,895 656 7,239 38 7,277 
Latin America
Mexico2,747 2,652 95 605 (510) (510)
Vrio2,607 2,302 305 231 74 6 80 
Total Latin America5,354 4,954 400 836 (436)6 (430)
Segment Total155,716 102,733 52,983 17,901 35,082 $44 $35,126 
Corporate and Other
Corporate1,264 4,805 (3,541)372 (3,913)
Video15,513 12,666 2,847 356 2,491 
Acquisition-related items 299 (299)4,233 (4,532)
Certain significant items 4,961 (4,961) (4,961)
Eliminations and
consolidations
(3,629)(2,809)(820) (820)
AT&T Inc.$168,864 $122,655 $46,209 $22,862 $23,347 
15


Year Ended
Dollars in millions
Unaudited
December 31, 2020
RevenuesOperations and Support ExpensesEBITDADepreciation and AmortizationOperating Income (Loss)Equity in Net
Income (Loss) of
Affiliates
Segment Contribution
Communications
Mobility$72,564 $42,106 $30,458 $8,086 $22,372 $— $22,372 
Business Wireline25,083 15,303 9,780 5,216 4,564 — 4,564 
Consumer Wireline12,318 8,027 4,291 2,914 1,377 — 1,377 
Total Communications109,965 65,436 44,529 16,216 28,313 — 28,313 
WarnerMedia30,442 21,579 8,863 671 8,192 18 8,210 
Latin America
Mexico2,562 2,636 (74)513 (587)— (587)
Vrio3,154 2,800 354 520 (166)24 (142)
Total Latin America5,716 5,436 280 1,033 (753)24 (729)
Segment Total146,123 92,451 53,672 17,920 35,752 $42 $35,794 
Corporate and Other
Corporate2,207 4,205 (1,998)310 (2,308)
Video28,610 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 
16