v3.24.3
Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information
NOTE 4. SEGMENT INFORMATION
 
Our segments are comprised of strategic business units or other operations that offer products and services to different customer segments over various technology platforms and/or in different geographies that are managed accordingly. We have two reportable segments: Communications and Latin America.
 
We also evaluate segment and business unit performance based on EBITDA and/or EBITDA margin, which is defined as operating income excluding depreciation and amortization. EBITDA is used as part of our management reporting and we believe EBITDA to be a relevant and useful measurement to our investors as it measures the cash generation potential of our business units. EBITDA does not give effect to depreciation and amortization expenses incurred in operating income nor is it burdened by cash used for debt service requirements and thus does not reflect available funds for distributions, reinvestment or other discretionary uses. EBITDA margin is EBITDA divided by total revenue.

The Communications segment provides wireless and wireline telecom and broadband services to consumers located in the U.S. and businesses globally. Our business strategies reflect integrated product offerings that cut across product lines and utilize shared assets. This segment contains the following business units:
•Mobility provides nationwide wireless service and equipment.
•Business Wireline provides advanced ethernet-based fiber services, IP Voice and managed professional services, as well as traditional voice and data services and related equipment to business customers. In the first quarter of 2024, we began
offering our fixed wireless access product that provides internet services delivered over our 5G wireless network where available.
•Consumer Wireline provides broadband services, including fiber connections that provide multi-gig services to residential customers in select locations and our fixed wireless access product that provides home internet services delivered over our 5G wireless network where available. Consumer Wireline also provides legacy telephony voice communication services.

The Latin America segment provides wireless services and equipment in Mexico.
 
Corporate and Other reconciles our segment results to consolidated operating income and income before income taxes.

Corporate includes:
•DTV-related retained costs, which are costs previously allocated to the Video business that were retained after the transaction, net of reimbursements from DIRECTV Entertainment Holdings, LLC (DIRECTV) under transition service agreements.
•Parent administration support, which includes costs borne by AT&T where the business units do not influence decision making.
•Securitization fees associated with our sales of receivables (see Note 8).
•Value portfolio, which are businesses no longer integral to our operations or which we no longer actively market.

Other items consist of:
•Certain significant items, which includes items associated with the merger and integration of acquired or divested businesses, including amortization of intangible assets, employee separation charges associated with voluntary and/or strategic offers, asset impairments and abandonments and restructuring, and other items for which the segments are not being evaluated.
 
“Interest expense,” “Other income (expense) – net” and “Equity in net income of affiliates” are managed only on a total company basis and are, accordingly, reflected only in consolidated results.
For the three months ended September 30, 2024
 RevenuesOperations
and Support
Expenses		EBITDADepreciation
and
Amortization		Operating
Income (Loss)
Communications     
Mobility$21,052 $11,559 $9,493 $2,490 $7,003 
Business Wireline4,606 3,250 1,356 1,399 (43)
Consumer Wireline3,416 2,296 1,120 924 196 
Total Communications29,074 17,105 11,969 4,813 7,156 
Latin America - Mexico1,022 854 168 158 10 
Segment Total30,096 17,959 12,137 4,971 7,166 
Corporate and Other
Corporate:
DTV-related retained costs— 107 (107)95 (202)
Parent administration support— 401 (401)2 (403)
Securitization fees
31 134 (103)— (103)
Value portfolio86 26 60 6 54 
Total Corporate117 668 (551)103 (654)
Certain significant items— 4,383 (4,383)13 (4,396)
Total Corporate and Other117 5,051 (4,934)116 (5,050)
AT&T Inc.$30,213 $23,010 $7,203 $5,087 $2,116 
For the three months ended September 30, 2023
 RevenuesOperations and Support ExpensesEBITDADepreciation and AmortizationOperating Income (Loss)
Communications     
Mobility$20,692 $11,795 $8,897 $2,134 $6,763 
Business Wireline5,221 3,526 1,695 1,345 350 
Consumer Wireline3,331 2,300 1,031 871 160 
Total Communications29,244 17,621 11,623 4,350 7,273 
Latin America - Mexico992 837 155 184 (29)
Segment Total30,236 18,458 11,778 4,534 7,244 
Corporate and Other
Corporate:
DTV-related retained costs— 167 (167)144 (311)
Parent administration support(1)333 (334)1 (335)
Securitization fees
25 164 (139)— (139)
Value portfolio90 25 65 5 60 
Total Corporate114 689 (575)150 (725)
Certain significant items— 716 (716)21 (737)
Total Corporate and Other114 1,405 (1,291)171 (1,462)
AT&T Inc.$30,350 $19,863 $10,487 $4,705 $5,782 
For the nine months ended September 30, 2024
 RevenuesOperations
and Support
Expenses		EBITDADepreciation
and
Amortization		Operating
Income (Loss)
Communications     
Mobility$62,126 $34,483 $27,643 $7,453 $20,190 
Business Wireline14,274 10,004 4,270 4,147 123 
Consumer Wireline10,113 6,801 3,312 2,719 593 
Total Communications86,513 51,288 35,225 14,319 20,906 
Latin America - Mexico3,188 2,662 526 507 19 
Segment Total89,701 53,950 35,751 14,826 20,925 
Corporate and Other     
Corporate:
DTV-related retained costs— 357 (357)317 (674)
Parent administration support— 1,236 (1,236)5 (1,241)
Securitization fees86 449 (363)— (363)
Value portfolio251 77 174 15 159 
Total Corporate337 2,119 (1,782)337 (2,119)
Certain significant items— 5,040 (5,040)43 (5,083)
Total Corporate and Other337 7,159 (6,822)380 (7,202)
AT&T Inc.$90,038 $61,109 $28,929 $15,206 $13,723 
For the nine months ended September 30, 2023
 RevenuesOperations and Support ExpensesEBITDADepreciation and AmortizationOperating Income (Loss)
Communications     
Mobility$61,589 $35,587 $26,002 $6,355 $19,647 
Business Wireline15,831 10,699 5,132 4,008 1,124 
Consumer Wireline9,821 6,810 3,011 2,589 422 
Total Communications87,241 53,096 34,145 12,952 21,193 
Latin America - Mexico2,842 2,396 446 544 (98)
Segment Total90,083 55,492 34,591 13,496 21,095 
Corporate and Other     
Corporate:
DTV-related retained costs— 514 (514)440 (954)
Parent administration support(13)1,039 (1,052)4 (1,056)
Securitization fees61 439 (378)— (378)
Value portfolio275 77 198 16 182 
Total Corporate323 2,069 (1,746)460 (2,206)
Certain significant items— 644 (644)55 (699)
Total Corporate and Other323 2,713 (2,390)515 (2,905)
AT&T Inc.$90,406 $58,205 $32,201 $14,011 $18,190 
The following table is a reconciliation of Segment Operating Income to “Income Before Income Taxes” reported in our consolidated statements of income:
 Three months ended
September 30,		Nine months ended
September 30,
 2024202320242023
Communications$7,156 $7,273 $20,906 $21,193 
Latin America10 (29)19 (98)
Segment Operating Income7,166 7,244 20,925 21,095 
Reconciling Items:
Corporate(654)(725)(2,119)(2,206)
Transaction and other costs(34)(72)(101)(72)
Amortization of intangibles acquired(13)(21)(43)(55)
Asset impairments and abandonments and restructuring (4,422)(604)(5,061)(604)
Benefit-related gains (losses)73 (40)122 32 
AT&T Operating Income2,116 5,782 13,723 18,190 
Interest expense1,675 1,662 5,098 4,978 
Equity in net income of affiliates272 420 915 1,338 
Other income (expense) — net
717 440 1,850 2,362 
Income Before Income Taxes$1,430 $4,980 $11,390 $16,912