v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating activities        
Net income $ 110 $ 939 $ 1,061 $ 1,847
Adjustments to reconcile net income to net cash provided by operating activities        
Depreciation and amortization 4,064 1,585 5,782 3,185
Stock-based compensation expense 259 130 397 240
Deferred income tax expense 98 267 408 555
Bad debt expense 233 71 346 144
Losses from sales of receivables 30 28 55 63
Losses on redemption of debt 163 19 163 19
Impairment expense 418 0 418 0
Changes in operating assets and liabilities        
Accounts receivable (498) (805) (1,246) (1,948)
Equipment installment plan receivables 127 (150) 196 (400)
Inventories (553) 162 (1,064) (103)
Operating lease right-of-use assets 937 469 1,464 904
Other current and long-term assets (104) (83) (98) (170)
Accounts payable and accrued liabilities (1,261) 43 (1,666) 56
Short and long-term operating lease liabilities (1,077) (521) (1,802) (1,043)
Other current and long-term liabilities (2,190) (27) (2,111) 94
Other, net 21 20 91 96
Net cash provided by operating activities 777 2,147 2,394 3,539
Investing activities        
Purchases of property and equipment, including capitalized interest of $119, $125, $231 and $243 (2,257) (1,789) (4,010) (3,720)
Purchases of spectrum licenses and other intangible assets, including deposits (745) (665) (844) (850)
Proceeds related to beneficial interests in securitization transactions 602 839 1,470 1,996
Net cash related to derivative contracts under collateral exchange arrangements 1,212 0 632 0
Acquisition of companies, net of cash and restricted cash acquired (5,000) 0 (5,000) 0
Other, net (168) 0 (184) (7)
Net cash used in investing activities (6,356) (1,615) (7,936) (2,581)
Financing activities        
Proceeds from issuance of long-term debt 26,694 0 26,694 0
Payments of consent fees related to long-term debt (109) 0 (109) 0
Proceeds from borrowing on revolving credit facility 0 880 0 1,765
Repayments of revolving credit facility 0 (880) 0 (1,765)
Repayments of financing lease obligations (236) (229) (518) (315)
Repayments of short-term debt for purchases of inventory, property and equipment, net (151) 0 (176) 0
Repayments of long-term debt (10,529) (600) (10,529) (600)
Issuance of common stock 17,290 0 17,290 0
Repurchases of common stock (16,990) 0 (16,990) 0
Proceeds from issuance of short-term debt 18,743 0 18,743 0
Repayments of short-term debt (18,929) 0 (18,929) 0
Tax withholdings on share-based awards (138) (4) (279) (104)
Cash payments for debt prepayment or debt extinguishment costs (24) (28) (24) (28)
Other, net 7 (5) 2 (9)
Net cash provided by (used in) financing activities 15,628 (866) 15,175 (1,056)
Change in cash and cash equivalents 10,049 (334) 9,633 (98)
Cash and cash equivalents, including restricted cash        
Beginning of period 1,112 1,439 1,528 1,203
End of period 11,161 1,105 11,161 1,105
Supplemental disclosure of cash flow information        
Interest payments, net of amounts capitalized 608 245 949 585
Operating lease payments 1,269 703 2,144 1,391
Income tax payments 31 40 55 72
Non-cash investing and financing activities        
Non-cash beneficial interest obtained in exchange for securitized receivables 1,486 1,616 3,099 3,128
Decrease in accounts payable and accrued liabilities for purchases of property and equipment (38) (113) (339) (446)
Leased devices transferred from inventory to property and equipment 1,444 167 1,753 314
Returned leased devices transferred from property and equipment to inventory (538) (67) (597) (124)
Short-term debt assumed for financing of property and equipment 38 50 38 300
Operating lease right-of-use assets obtained in exchange for lease obligations 658 1,400 1,213 2,094
Financing lease right-of-use assets obtained in exchange for lease obligations $ 515 $ 368 $ 693 $ 548