Discontinued Operations and Disposal Groups

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

NOTE 24. DISCONTINUED OPERATIONS

Upon the separation and distribution, the WarnerMedia business met the criteria for discontinued operations. For discontinued operations, we also evaluated transactions that were components of AT&T’s single plan of a strategic shift, including dispositions that previously did not individually meet the criteria due to materiality, and have determined discontinued operations to be comprised of WarnerMedia, Vrio, Xandr and Playdemic.

The following is a summary of operating results included in income (loss) from discontinued operations for the years ended:

	2024		2023		2022
Revenues	$	—	$	—	$	9,454
Operating Expenses
Cost of revenues	—		—		5,481
Selling, general and administrative	—		—		2,791
Depreciation and amortization	—		—		1,172
Total operating expenses	—		—		9,444
Interest expense	—		—		131
Equity in net income (loss) of affiliates	—		—		(27)
Other income (expense) – net	—		—		(87)
Total other income (expense)	—		—		(245)
Net loss before income taxes	—		—		(235)
Income tax expense (benefit)	—		—		(54)
Net loss from discontinued operations	$	—	$	—	$	(181)

In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $10,000 on its $10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $41,600, which included $1,600 of existing WarnerMedia debt, $30,000 of Spinco senior notes issued in March 2022 and the $10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $2,660.