AT&T INC. - FORM 8-K - EX-99.1 - AT&T INC. SELECTED FINANCIAL STATEMENTS AND OPERATING DATA

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8-K - AT&T INC. FIRST QTR 2012 EARNINGS 8K - AT&T INC.	earnings801_8k.htm

Financial Data

AT&T Inc.
Consolidated Statements of Income
Dollars in millions except per share amounts
Unaudited	Three Months Ended
	3/31/2012			3/31/2011			% Chg
Operating Revenues
Wireless service	$	14,566		$	13,961		4.3	%
Data		7,795			7,171		8.7	%
Voice		5,893			6,550		-10.0	%
Directory		744			868		-14.3	%
Other		2,824			2,697		4.7	%
Total Operating Revenues		31,822			31,247		1.8	%

Operating Expenses
Cost of services and sales (exclusive of depreciation and amortization shown separately below)		12,913			12,813		0.8	%
Selling, general and administrative		8,248			8,042		2.6	%
Depreciation and amortization		4,560			4,584		-0.5	%
Total Operating Expenses		25,721			25,439		1.1	%
Operating Income		6,101			5,808		5.0	%
Interest Expense		859			846		1.5	%
Equity in Net Income of Affiliates		223			249		-10.4	%
Other Income (Expense) - Net		52			59		-11.9	%
Income Before Income Taxes		5,517			5,270		4.7	%
Income Tax Expense		1,865			1,802		3.5	%
Net Income		3,652			3,468		5.3	%
Less: Net Income Attributable to Noncontrolling Interest		(68	)		(60	)	-13.3	%
Net Income Attributable to AT&T	$	3,584		$	3,408		5.2	%


Basic Earnings Per Share Attributable to AT&T	$	0.60		$	0.57		5.3	%
Weighted Average Common Shares Outstanding (000,000)		5,918			5,925		-0.1	%

Diluted Earnings Per Share Attributable to AT&T	$	0.60		$	0.57		5.3	%
Weighted Average Common Shares Outstanding with Dilution (000,000)		5,940			5,945		-0.1	%

Financial Data

AT&T Inc.
Statements of Segment Income
Dollars in millions
Unaudited
	Three Months Ended

Wireless	3/31/2012			3/31/2011			% Chg
Segment Operating Revenues
Service	$	14,566		$	13,961		4.3	%
Equipment		1,570			1,349		16.4	%
Total Segment Operating Revenues		16,136			15,310		5.4	%

Segment Operating Expenses
Operations and support		10,083			9,861		2.3	%
Depreciation and amortization		1,666			1,506		10.6	%
Total Segment Operating Expenses		11,749			11,367		3.4	%
Segment Operating Income		4,387			3,943		11.3	%
Equity in Net Loss of Affiliates		(13	)		(4	)	-
Segment Income	$	4,374		$	3,939		11.0	%

Segment Operating Income Margin		27.2	%		25.8	%

Wireline
Segment Operating Revenues
Data	$	7,795		$	7,171		8.7	%
Voice		5,893			6,550		-10.0	%
Other		1,240			1,330		-6.8	%
Total Segment Operating Revenues		14,928			15,051		-0.8	%

Segment Operating Expenses
Operations and support		10,297			10,312		-0.1	%
Depreciation and amortization		2,808			2,958		-5.1	%
Total Segment Operating Expenses		13,105			13,270		-1.2	%
Segment Income	$	1,823		$	1,781		2.4	%

Segment Operating Income Margin		12.2	%		11.8	%

Advertising Solutions
Segment Operating Revenues	$	744		$	868		-14.3	%

Segment Operating Expenses
Operations and support		547			572		-4.4	%
Depreciation and amortization		77			106		-27.4	%
Total Segment Operating Expenses		624			678		-8.0	%
Segment Income	$	120		$	190		-36.8	%

Segment Income Margin		16.1	%		21.9	%

Other
Segment Operating Revenues	$	14		$	18		-22.2	%
Segment Operating Expenses		243			124		96.0	%
Segment Operating Loss		(229	)		(106	)	-
Equity in Net Income of Affiliates		236			253		-6.7	%
Segment Income	$	7		$	147		-95.2	%

Financial Data

AT&T Inc.
Consolidated Balance Sheets
Dollars in millions except per share amounts
	3/31/12			12/31/11
	Unaudited

Assets
Current Assets
Cash and cash equivalents	$	2,442		$	3,185
Accounts receivable - net of allowances for
doubtful accounts of $784 and $878		13,167			13,606
Prepaid expenses		1,706			1,155
Deferred income taxes		1,463			1,470
Other current assets		1,987			3,611
Total current assets		20,765			23,027
Property, Plant and Equipment - Net		107,231			107,087
Goodwill		70,929			70,842
Licenses		51,782			51,374
Customer Lists and Relationships - Net		2,385			2,757
Other Intangible Assets - Net		5,203			5,212
Investments in Equity Affiliates		4,302			3,718
Other Assets		6,759			6,327
Total Assets	$	269,356		$	270,344

Liabilities and Stockholders' Equity
Current Liabilities
Debt maturing within one year	$	6,775		$	3,453
Accounts payable and accrued liabilities		17,593			19,858
Advanced billing and customer deposits		3,966			3,872
Accrued taxes		1,601			1,003
Dividends payable		2,585			2,608
Total current liabilities		32,520			30,794
Long-Term Debt		58,934			61,300
Deferred Credits and Other Noncurrent Liabilities
Deferred income taxes		26,136			25,748
Postemployment benefit obligation		34,113			34,011
Other noncurrent liabilities		12,466			12,694
Total deferred credits and other noncurrent liabilities		72,715			72,453
Stockholders' Equity
Common stock		6,495			6,495
Additional paid-in capital		91,032			91,156
Retained earnings		26,446			25,453
Treasury stock		(22,460	)		(20,750	)
Accumulated other comprehensive income		3,386			3,180
Noncontrolling interest		288			263
Total stockholders' equity		105,187			105,797
Total Liabilities and Stockholders' Equity	$	269,356		$	270,344

Financial Data

AT&T Inc.
Consolidated Statements of Cash Flows
Dollars in millions
Unaudited	Three Months Ended
	3/31/2012			3/31/2011

Operating Activities
Net income	$	3,652		$	3,468
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation and amortization		4,560			4,584
Undistributed earnings from investments in equity affiliates		(223	)		(233	)
Provision for uncollectible accounts		328			292
Deferred income tax expense and noncurrent
unrecognized tax benefits		337			731
Net gain from impairment and sale of investments		(9	)		(41	)
Changes in operating assets and liabilities:
Accounts receivable		111			72
Other current assets		1,082			708
Accounts payable and accrued liabilities		(1,573	)		(1,309	)
Other - net		(469	)		(540	)
Total adjustments		4,144			4,264
Net Cash Provided by Operating Activities		7,796			7,732

Investing Activities
Construction and capital expenditures:
Capital expenditures		(4,261	)		(4,133	)
Interest during construction		(65	)		(35	)
Acquisitions, net of cash acquired		(433	)		(54	)
Dispositions		16			11
Sales of securities, net of investment		5			127
Other		1			9
Net Cash Used in Investing Activities		(4,737	)		(4,075	)

Financing Activities
Net change in short-term borrowings with
original maturities of three months or less		-			(36	)
Issuance of long-term debt		2,986			-
Repayment of long-term debt		(2,204	)		(1,264	)
Purchase of treasury stock		(2,066	)		-
Issuance of treasury stock		218			18
Dividends paid		(2,606	)		(2,540	)
Other		(130	)		119
Net Cash Used in Financing Activities		(3,802	)		(3,703	)
Net decrease in cash and cash equivalents		(743	)		(46	)
Cash and cash equivalents beginning of year		3,185			1,437
Cash and Cash Equivalents End of Period	$	2,442		$	1,391

Financial Data

AT&T Inc.
Supplementary Operating and Financial Data
Dollars in millions except per share amounts
Unaudited		Three Months Ended
		3/31/2012			3/31/2011			% Chg

Wireless
Volumes (000)
	Total		103,940			97,519		6.6	%
	Postpaid		69,403			68,062		2.0	%
	Prepaid		7,368			6,613		11.4	%
	Reseller		13,869			12,241		13.3	%
	Connected Devices		13,300			10,603		25.4	%

Wireless Net Adds (000)
	Total		726			1,984		-63.4	%
	Postpaid		187			62		-
	Prepaid		125			85		47.1	%
	Reseller		184			561		-67.2	%
	Connected Devices		230			1,276		-82.0	%
	M&A Activity, Partitioned Customers and Other Adjs.		(33	)		(1	)	-

Wireless Churn
	Postpaid Churn		1.10	%		1.18	%	-8 BP
	Total Churn		1.47	%		1.36	%	11 BP

Other
	Branded Computing Subscribers1		5,776			3,434		68.2	%
	Licensed POPs (000,000)		313			313		0.0	%

Wireline
Voice
	Total Wireline Voice Connections		37,878			42,457		-10.8	%
	Net Change		(1,134	)		(1,106	)	-2.5	%

Broadband
	Total Wireline Broadband Connections2		16,530			16,486		0.3	%
	Net Change2		103			177		-41.8	%

Video
	U-verse		3,991			3,205		24.5	%
	Satellite		1,732			1,886		-8.2	%
	Total Video Connections		5,723			5,091		12.4	%
	Net Change		167			174		-4.0	%

Consumer Revenue Connections
	Broadband3		14,595			14,515		0.6	%
	Video Connections4		5,706			5,085		12.2	%
	Voice5		20,537			23,479		-12.5	%
Total Consumer Revenue Connections			40,838			43,079		-5.2	%
	Net Change		(428	)		(348	)	-23.0	%

AT&T Inc.
	Construction and capital expenditures
	Capital expenditures	$	4,261		$	4,133		3.1	%
	Interest during construction	$	65		$	35		85.7	%
	Dividends Declared per Share	$	0.44		$	0.43		2.3	%
	End of Period Common Shares Outstanding (000,000)		5,875			5,918		-0.7	%
	Debt Ratio6		38.4	%		36.6	%	180 BP
	Total Employees		252,330			260,690		-3.2	%

1	Branded Computing Subscribers includes tablets, tethering plans, aircards, mobile Wi-Fi hot spots and other data-only devices.
2	Prior year amounts restated to conform to current period reporting methodology.
3	Consumer wireline broadband connections include DSL lines, U-verse High Speed Internet access and satellite broadband.
4	Video connections include sales under agency agreements with EchoStar and DirecTV customers and U-verse connections.
5	Includes consumer U-verse Voice over Internet Protocol connections of 2,442 as of March 31, 2012.
6	Total long-term debt plus debt maturing within one year divided by total debt plus total stockholders' equity.
	Note: For the end of 1Q12, total switched access lines were 35,436, retail business switched access lines totaled 15,256, and wholesale
	and coin switched access lines totaled 2,085.

AT&T INC. - FORM 8-K - EX-99.1 - AT&T INC. SELECTED FINANCIAL STATEMENTS AND OPERATING DATA - April 24, 2012

Attached files

AT&T INC. Reports