美國電話電報公司AT&T（T）2025年第一季度財務及經營趨勢報告「NYSE」（英文版）（13頁）.pdf

《美國電話電報公司AT&T（T）2025年第一季度財務及經營趨勢報告「NYSE」（英文版）（13頁）.pdf》由會員分享，可在線閱讀，更多相關《美國電話電報公司AT&T（T）2025年第一季度財務及經營趨勢報告「NYSE」（英文版）（13頁）.pdf（13頁珍藏版）》請在三個皮匠報告上搜索。

1、Consolidated Statements of IncomeAT&T Inc.Dollars and shares in millions except per share amounts;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Operating RevenuesService24,617$24,850$25,112$25,070$99,649$24,842$25,006$25,134$25,153$100,135$25,138$Equipment5,522 5,

2、067 5,238 6,952 22,779 5,186 4,791 5,079 7,145 22,201 5,488 Total Operating Revenues30,139 29,917 30,350 32,022 122,428 30,028 29,797 30,213 32,298 122,336 30,626 Operating ExpensesCost of revenuesEquipment5,658 5,056 5,219 7,203 23,136 5,143 4,815 4,933 7,358 22,249 5,694 Other cost of revenues6,67

3、3 6,771 6,835 6,708 26,987 6,811 6,627 6,697 6,837 26,972 6,339 Selling,general and administrative7,175 7,009 7,205 7,485 28,874 7,021 7,043 6,958 7,389 28,411 7,145 Asset impairments and abandonments and restructuring-604 589 1,193 159 480 4,422 14 5,075 504 Depreciation and amortization4,631 4,675

4、 4,705 4,766 18,777 5,047 5,072 5,087 5,374 20,580 5,190 Total Operating Expenses24,137 23,511 24,568 26,751 98,967 24,181 24,037 28,097 26,972 103,287 24,872 Operating Income(Loss)6,002 6,406 5,782 5,271 23,461 5,847 5,760 2,116 5,326 19,049 5,754 Interest Expense1,708 1,608 1,662 1,726 6,704 1,724

5、 1,699 1,675 1,661 6,759 1,658 Equity in Net Income of Affiliates538 380 420 337 1,675 295 348 272 1,074 1,989 1,440 Other Income(Expense)Net935 987 440 (946)1,416 451 682 717 569 2,419 455 Income(Loss)Before Income Taxes 5,767 6,165 4,980 2,936 19,848 4,869 5,091 1,430 5,308 16,698 5,991 Income Tax

6、 Expense(Benefit)1,314 1,403 1,154 354 4,225 1,118 1,142 1,285 900 4,445 1,299 Net Income(Loss)4,453 4,762 3,826 2,582 15,623 3,751 3,949 145 4,408 12,253 4,692 Less:Net Income Attributable to Noncontrolling Interest(225)(273)(331)(394)(1,223)(306)(352)(319)(328)(1,305)(341)Net Income(Loss)Attributa

7、ble to AT&T 4,228$4,489$3,495$2,188$14,400$3,445$3,597$(174)$4,080$10,948$4,351$Less:Preferred Stock Dividends and Redemption Gain(52)(52)(51)(53)(208)(50)(51)(52)(49)(202)44 Net Income(Loss)Attributable to Common Stock4,176$4,437$3,444$2,135$14,192$3,395$3,546$(226)$4,031$10,746$4,395$Diluted Earni

8、ngs(Loss)Per Share Attributable to Common Stock0.57$0.61$0.48$0.30$1.97$0.47$0.49$(0.03)$0.56$1.49$0.61$Adjusted Diluted Earnings Per Share Attributable to Common Stock(excludes DIRECTV)1,20.510.56 0.560.472.100.480.510.540.431.950.51Weighted Average Common Shares Outstanding-Basic7,1687,1807,1857,1

9、907,1817,1927,1967,2027,2077,1997,213Weighted Average Common Shares Outstanding-with Dilution7,4747,1807,1857,1917,2587,1937,1987,2087,2157,2047,223EBITDA110,633$11,081$10,487$10,037$42,238$10,894$10,832$7,203$10,700$39,629$10,944$Adjusted EBITDA110,589$11,053$11,203$10,555$43,400$11,046$11,337$11,5

10、86$10,791$44,760$11,533$Adjusted EBITDA Margin135.1%36.9%36.9%33.0%35.4%36.8%38.0%38.3%33.4%36.6%37.7%Financial and Operating Statistics SummaryAT&T Inc.Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Dividends Declared Per Common Share0.2775$0.2775$0.2775$0.2775$1.

11、11$0.2775$0.2775$0.2775$0.2775$1.11$0.2775$End of Period Common Shares Outstanding(000,000)7,149 7,149 7,150 7,150 7,150 7,170 7,170 7,174 7,176 7,176 7,196 Debt Ratio55.9%54.8%53.5%53.5%53.5%52.4%51.8%52.2%50.7%50.7%50.9%Total Employees(000)157.8 156.6 152.7 150.5 150.5 148.3 146.0 143.6 141.0 141.

12、0 140.0 See Notes to Financial and Operational Trends on page 13.Page 2Consolidated Statements of Cash Flows3AT&T Inc.Dollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Operating ActivitiesNet Income4,453$4,762$3,826$2,582$15,623$3,751$3,949$145$4,4

13、08$12,253$4,692$Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization4,631 4,675 4,705 4,766 18,777 5,047 5,072 5,087 5,374 20,580 5,190 Provision for uncollectible accounts477 452 480 560 1,969 472 470 489 538 1,969 516 Asset impairments and

14、abandonments and restructuring-604 589 1,193 159 480 4,422 14 5,075 504 Pension and postretirement benefit expense(credit)(670)(671)(625)(586)(2,552)(471)(470)(471)(471)(1,883)(397)Actuarial and settlement(gain)loss on pension and postretirement benefits-net-(74)(71)1,739 1,594 -56 56 -Net(gain)loss

15、 on investments(93)(67)495 106 441 201 (16)(97)(8)80 81 Changes in operating assets and liabilities:Receivables620 722 (169)(1,091)82 512 (382)444(451)123 15 Equipment installment receivables and related sales(243)(59)246 (77)(133)24 (344)(579)(947)(1,846)1,212 Contract asset and cost deferral(323)7

16、6(155)(604)(1,006)101 220 262 (423)160(147)Inventories,prepaid and other current assets282 626 (210)49 747 (24)443(1,077)728 70 (661)Accounts payable and other accrued liabilities(3,987)(1,968)621 3,760 (1,574)(3,419)(1,342)330 3,327 (1,104)(3,297)Changes in income taxes1,309 1,084 730 (505)2,618 1,

17、141 835 686 (684)1,978 1,285 Postretirement claims and contributions(89)(467)(159)(20)(735)(54)(39)(36)(37)(166)(68)Other-net311 831 18 110 1,270 107 217 630 472 1,426 124 Total adjustments2,225 5,160 6,510 8,796 22,691 3,796 5,144 10,090 7,488 26,518 4,357 Net Cash Provided by Operating Activities6

18、,678 9,922 10,336 11,378 38,314 7,547 9,093 10,235 11,896 38,771 9,049 Investing ActivitiesCapital expenditures4(4,335)(4,270)(4,647)(4,601)(17,853)(3,758)(4,360)(5,302)(6,843)(20,263)(4,277)Acquisitions,net of cash acquired4(291)(224)(408)(2,019)(2,942)(211)(59)(52)(58)(380)(20)Dispositions15 1 50

19、6 72 8 6 52 9 75 11 Distributions from DIRECTV in excess of cumulative equity in earnings774 200 473 602 2,049 194 392 342 -928-(Purchases),sales and settlements of securities and investments-net19 (1,075)13 141 (902)1,079 68 6 1,422 2,575 45 Other-net-(55)(26)(3)(84)(273)(63)(196)107 (425)(717)Net

20、Cash(Used in)Provided by Investing Activities(3,818)(5,423)(4,545)(5,874)(19,660)(2,961)(4,016)(5,150)(5,363)(17,490)(4,958)Financing ActivitiesNet change in short-term borrowings with original maturities of three months or less(536)(378)-(914)1,933 753 (2,686)-Issuance of other short-term borrowing

21、s3,627 1,779 -5,406 491 -491 -Repayment of other short-term borrowings-(867)(112)(2,436)(3,415)(1,996)(491)-(2,487)-Issuance of long-term debt3,366 6,267 -371 10,004 -2 2 15 19 2,956 Repayment of long-term debt(5,945)(1,664)(4,280)(155)(12,044)(4,685)(2,225)(203)(3,184)(10,297)(1,526)Repayment of no

22、te payable to DIRECTV(130)-(130)-Payment of vendor financing(2,113)(1,643)(980)(1,006)(5,742)(841)(550)(180)(221)(1,792)(203)Redemption of preferred stock-(2,075)Purchase of treasury stock(188)(1)(1)(4)(194)(157)(2)(43)(13)(215)(218)Issuance of treasury stock3 -3 -2 13 15 17 Issuance of preferred in

23、terests in subsidiary-7,151-7,151 -2,221 Redemption of preferred interests in subsidiary-(5,333)-(5,333)-Dividends paid(2,014)(2,083)(2,019)(2,020)(8,136)(2,034)(2,099)(2,038)(2,037)(8,208)(2,091)Other-net219 (1,047)(362)(1,080)(2,270)(526)(866)(416)(426)(2,234)366 Net Cash(Used in)Provided by Finan

24、cing Activities(3,711)2,181 (7,754)(6,330)(15,614)(7,815)(5,478)(5,562)(5,853)(24,708)(553)Net increase(decrease)in cash and cash equivalents and restricted cash(851)6,680(1,963)(826)3,040(3,229)(401)(477)680 (3,427)3,538 Cash and cash equivalents and restricted cash beginning of period3,793 2,942 9

25、,622 7,659 3,793 6,833 3,604 3,203 2,726 6,833 3,406 Cash and Cash Equivalents and Restricted Cash End of Period2,942$9,622$7,659$6,833$6,833$3,604$3,203$2,726$3,406$3,406$6,944$See Notes to Financial and Operational Trends on page 13.Page 3AT&T Inc.Free Cash FlowDollars in millions;Unaudited3/31/23

26、6/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Cash Flow DetailNet cash provided by operating activities6,678$9,922$10,336$11,378$38,314$7,547$9,093$10,235$11,896$38,771$9,049$Less:Distributions from DIRECTV classified as operating activities(534)(377)(423)(332)(1,666)(324)(350)(2

27、81)(1,072)(2,027)(1,423)Less:Cash taxes paid on DIRECTV200 171 175 236 782 149 121 132 254 656 -Less:Capital expenditures(4,335)(4,270)(4,647)(4,601)(17,853)(3,758)(4,360)(5,302)(6,843)(20,263)(4,277)Less:Vendor financing payments(2,113)(1,643)(980)(1,006)(5,742)(841)(550)(180)(221)(1,792)(203)Free

28、Cash Flow(excludes DIRECTV)1,2(104)$3,803$4,461$5,675$13,835$2,773$3,954$4,604$4,014$15,345$3,146$AT&T Inc.Supplemental Free Cash Flow Walk from Adjusted EBITDA5Dollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Adjusted EBITDA110,589$11,053$11,203$

29、10,555$43,400$11,046$11,337$11,586$10,791$44,760$11,533$Noncash Adj.to EBITDABad debt expense477 452 480 560 1,969 472 470 489 538 1,969 516 Capital investment1(6,448)(5,913)(5,627)(5,607)(23,595)(4,599)(4,910)(5,482)(7,064)(22,055)(4,480)Cash paid for interest(less capitalized interest)(1,699)(1,36

30、8)(1,886)(1,543)(6,496)(1,974)(1,471)(1,882)(1,444)(6,771)(1,748)Cash(paid)for income taxes,net of refunds(10)(325)(423)(841)(1,599)9 (308)(583)(1,574)(2,456)(11)Less:Cash taxes paid on DIRECTV200 171 175 236 782 149 121 132 254 656 -Working capital(3,651)(603)333 2,037 (1,884)(2,806)(1,405)(620)2,2

31、34 (2,597)(2,878)Other438 336 206 278 1,258 476 120 964 279 1,839 214 Free Cash Flow(excludes DIRECTV)1,2(104)$3,803$4,461$5,675$13,835$2,773$3,954$4,604$4,014$15,345$3,146$AT&T Inc.Additional Cash Flow InformationDollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/

32、31/2420243/31/25Capital Investment DetailPurchase of property and equipment4,291$4,224$4,601$4,558$17,674$3,721$4,321$5,259$6,800$20,101$4,240$Interest during construction-capital expenditures44 46 46 43 179 37 39 43 43 162 37 Capital expenditures4,335$4,270$4,647$4,601$17,853$3,758$4,360$5,302$6,84

33、3$20,263$4,277$Add:Vendor financing payments2,113 1,643 980 1,006 5,742 841 550 180 221 1,792 203 Capital Investment16,448$5,913$5,627$5,607$23,595$4,599$4,910$5,482$7,064$22,055$4,480$Acquisitions,net of cash acquired Spectrum acquisitions63$5$241$1,938$2,247$145$2$6$28$181$1$Interest during constr

34、uction-spectrum228 219 167 81 695 66 57 46 30 199 19 Distributions from DIRECTV InvestmentClassified as operating activities534$377$423$332$1,666$324$350$281$1,072$2,027$1,423$Classified as investing activities774 200 473 602 2,049 194 392 342 -928 -Total Distributions received from DIRECTV1,308$577

35、$896$934$3,715$518$742$623$1,072$2,955$1,423$Cash paid for interest1,971$1,633$2,099$1,667$7,370$2,077$1,567$1,971$1,517$7,132$1,804$Interest during construction272 265 213 124 874 103 96 89 73 361 56 Cash paid for interest(less capitalized interest)1,699$1,368$1,886$1,543$6,496$1,974$1,471$1,882$1,

36、444$6,771$1,748$See Notes to Financial and Operational Trends on page 13.Page 4Operating RevenuesAT&T Inc.Dollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Communications29,152$28,845$29,244$30,797$118,038$28,857$28,582$29,074$31,139$117,652$29,560

37、$Mobility20,582 20,315 20,692 22,393 83,982 20,594 20,480 21,052 23,129 85,255 21,570 Business Wireline5,331 5,279 5,221 5,052 20,883 4,913 4,755 4,606 4,545 18,819 4,468 Consumer Wireline3,239 3,251 3,331 3,352 13,173 3,350 3,347 3,416 3,465 13,578 3,522 Latin America883 967 992 1,090 3,932 1,063 1

38、,103 1,022 1,044 4,232 971 Corporate104 105 114 135 458 108 112 117 115 452 95 DTV-related retained costs-Parent administration support(9)(3)(1)6 (7)-(2)(2)1 Securitization fees19 17 25 24 85 26 29 31 30 116 28 Value portfolio94 91 90 105 380 82 83 86 87 338 66 Operating Revenues30,139$29,917$30,350

39、$32,022$122,428$30,028$29,797$30,213$32,298$122,336$30,626$Adjusted EBITDAAT&T Inc.Dollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420233/31/25Communications11,032$11,490$11,623$11,019$45,164$11,475$11,781$11,969$11,303$46,528$11,964$Mobility8,369 8,736 8,89

40、7 8,376 34,378 8,955 9,195 9,493 8,888 36,531 9,266 Business Wireline1,708 1,729 1,695 1,534 6,666 1,426 1,488 1,356 1,197 5,467 1,400 Consumer Wireline955 1,025 1,031 1,109 4,120 1,094 1,098 1,120 1,218 4,530 1,298 Latin America145 146 155 137 583 180 178 168 171 697 193 Corporate*(588)(583)(575)(6

41、01)(2,347)(609)(622)(551)(683)(2,465)(624)DTV-related retained costs(169)(178)(167)(172)(686)(134)(116)(107)(108)(465)(56)Parent administration support(383)(335)(334)(371)(1,423)(392)(443)(401)(488)(1,724)(438)Securitization fees(102)(137)(139)(141)(519)(139)(121)(103)(149)(512)(186)Value portfolio6

42、6 67 65 83 281 56 58 60 62 236 56 Adjusted EBITDA110,589$11,053$11,203$10,555$43,400$11,046$11,337$11,586$10,791$44,760$11,533$*See page 12 for additional detail of Corporate results.See Notes to Financial and Operational Trends on page 13.Page 5CommunicationsMobility ResultsDollars in millions;Unau

43、dited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Operating RevenuesService15,483$15,745$15,908$16,039$63,175$15,994$16,277$16,539$16,563$65,373$16,651$Equipment5,099 4,570 4,784 6,354 20,807 4,600 4,203 4,513 6,566 19,882 4,919 Total Operating Revenues20,582$20,315$20,69

44、2$22,393$83,982$20,594$20,480$21,052$23,129$85,255$21,570$Operating ExpensesOperations and support12,213$11,579$11,795$14,017$49,604$11,639$11,285$11,559$14,241$48,724$12,304$Depreciation and amortization2,098 2,123 2,134 2,162 8,517 2,487 2,476 2,490 2,764 10,217 2,526 Total Operating Expenses14,31

45、1 13,702 13,929 16,179 58,121 14,126 13,761 14,049 17,005 58,941 14,830 Operating Income6,271$6,613$6,763$6,214$25,861$6,468$6,719$7,003$6,124$26,314$6,740$Operating Income Margin30.5%32.6%32.7%27.7%30.8%31.4%32.8%33.3%26.5%30.9%31.2%EBITDA18,369$8,736$8,897$8,376$34,378$8,955$9,195$9,493$8,888$36,5

46、31$9,266$EBITDA Margin140.7%43.0%43.0%37.4%40.9%43.5%44.9%45.1%38.4%42.8%43.0%EBITDA Service Margin154.1%55.5%55.9%52.2%54.4%56.0%56.5%57.4%53.7%55.9%55.6%See Notes to Financial and Operational Trends on page 13.Page 6CommunicationsMobility Operating Volumes and StatisticsVolumes in thousands;Unaudi

47、ted3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25AT&T Mobility SubscribersTotal Subscribers110,813 111,854 112,857 113,808 113,808 114,513 115,474 116,066 117,851 117,851 117,960 Postpaid85,421 85,846 86,365 87,104 87,104 87,450 87,999 88,384 89,200 89,200 89,463 Prepaid19

48、,200 19,352 19,391 19,236 19,236 19,211 19,271 19,200 19,023 19,023 18,955 Reseller6,192 6,656 7,101 7,468 7,468 7,852 8,204 8,482 9,628 9,628 9,542 Net Add DetailNet Subscriber Additions690 1,063 1,007 962 3,722 741 997 617 1,813 4,168 120 Postpaid Net Adds542 464 550 759 2,315 389 593 429 839 2,25

49、0 290 Prepaid Net Adds40 167 56 (135)128 1 82 (49)(136)(102)(34)Reseller Net Adds108 432 401 338 1,279 351 322 237 1,110 2,020 (136)Phone DetailTotal Phone Subscribers87,546 87,935 88,369 88,713 88,713 88,991 89,377 89,664 89,966 89,966 90,193 Postpaid Phones70,049 70,331 70,757 71,255 71,255 71,558

50、 71,930 72,285 72,749 72,749 73,031 Prepaid Phones17,496 17,604 17,612 17,458 17,458 17,433 17,447 17,379 17,217 17,217 17,162 Phone Detail-Net AddsTotal Phone Net Adds464 449 494 394 1,801 350 454 358 363 1,525 304 Postpaid Phone Net Adds424 326 468 526 1,744 349 419 403 482 1,653 324 Prepaid Phone

51、 Net Adds40 123 26 (132)57 1 35 (45)(119)(128)(20)Other MetricsPostpaid Phone Gross Adds and Upgrades(in millions)5.1 4.6 5.5 6.3 21.5 4.4 4.4 5.1 6.3 20.1 5.1 Postpaid Upgrade Rate63.7%3.1%3.9%4.7%15.6%3.0%2.9%3.5%4.6%14.0%3.3%FirstNet Connections(in millions)74.7 5.0 5.3 5.5 5.5 5.9 6.1 6.4 6.7 6.

52、7 7.1 Churn Detail8Postpaid Phone Churn0.81%0.79%0.79%0.84%0.81%0.72%0.70%0.78%0.85%0.76%0.83%Postpaid Churn0.99%0.95%0.95%1.01%0.98%0.89%0.85%0.93%1.00%0.92%0.99%Prepaid Churn2.73%2.50%2.78%2.97%2.74%2.77%2.57%2.73%2.73%2.70%2.64%ARPU9Postpaid Phone-Only ARPU55.05$55.63$55.99$56.23$55.73$55.57$56.4

53、2$57.07$56.72$56.45$56.56$Postpaid ARPU49.46 49.94 50.16 50.39 49.99 49.75 50.54 50.98 50.73 50.51 50.53 Prepaid ARPU33.81 33.78 34.05 34.15 33.95 34.21 34.08 34.30 34.41 34.25 34.16 See Notes to Financial and Operational Trends on page 13.Page 7CommunicationsBusiness Wireline ResultsDollars in mill

54、ions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Operating Revenues3Legacy and other transitional services3,604$3,495$3,425$3,156$13,680$2,997$2,839$2,669$2,590$11,095$2,475$Fiber and advanced connectivity services1,596 1,619 1,662 1,717 6,594 1,703 1,732 1,748

55、1,786 6,969 1,780 Equipment131 165 134 179 609 213 184 189 169 755 213 Total Operating Revenues5,331$5,279$5,221$5,052$20,883$4,913$4,755$4,606$4,545$18,819$4,468$Operating ExpensesOperations and support3,623$3,550$3,526$3,518$14,217$3,487$3,267$3,250$3,348$13,352$3,068$Depreciation and amortization

56、1,330 1,333 1,345 1,369 5,377 1,362 1,386 1,399 1,408 5,555 1,498 Total Operating Expenses4,953 4,883 4,871 4,887 19,594 4,849 4,653 4,649 4,756 18,907 4,566 Operating Income(Loss)378$396$350$165$1,289$64$102$(43)$(211)$(88)$(98)$Operating Income Margin7.1%7.5%6.7%3.3%6.2%1.3%2.1%-0.9%-4.6%-0.5%-2.2

57、%EBITDA11,708$1,729$1,695$1,534$6,666$1,426$1,488$1,356$1,197$5,467$1,400$EBITDA Margin132.0%32.8%32.5%30.4%31.9%29.0%31.3%29.4%26.3%29.1%31.3%CommunicationsSupplemental Business Solutions Results(Wireline and Business Mobility)10Dollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246

58、/30/249/30/2412/31/2420243/31/25Operating Revenues3Wireline service5,200$5,114$5,087$4,873$20,274$4,700$4,571$4,417$4,376$18,064$4,255$Legacy and other transitional services3,604 3,495 3,425 3,156 13,680 2,997 2,839 2,669 2,590 11,095 2,475 Fiber and advanced connectivity services1,596 1,619 1,662 1

59、,717 6,594 1,703 1,732 1,748 1,786 6,969 1,780 Wireless service2,280 2,374 2,378 2,391 9,423 2,386 2,468 2,483 2,475 9,812 2,449 Total Service7,480 7,488 7,465 7,264 29,697 7,086 7,039 6,900 6,851 27,876 6,704 Wireless equipment773 774 772 903 3,222 766 744 778 964 3,252 783 Wireline equipment131 16

60、5 134 179 609 213 184 189 169 755 213 Total Operating Revenues8,384 8,427 8,371 8,346 33,528 8,065 7,967 7,867 7,984 31,883 7,700 Operating Income1,028 1,015 973 728 3,744 649 779 658 312 2,398 472 EBITDA12,744$2,738$2,711$2,494$10,687$2,465$2,616$2,511$2,225$9,817$2,434$See Notes to Financial and O

61、perational Trends on page 13.Page 8CommunicationsConsumer Wireline ResultsDollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Operating RevenuesBroadband112,527$2,561$2,667$2,700$10,455$2,722$2,741$2,838$2,911$11,212$2,984$Legacy voice and data servi

62、ces396 383 368 361 1,508 342 323 307 293 1,265 286 Other service and equipment316 307 296 291 1,210 286 283 271 261 1,101 252 Total Operating Revenues3,239$3,251$3,331$3,352$13,173$3,350$3,347$3,416$3,465$13,578$3,522$Operating ExpensesOperations and support2,284$2,226$2,300$2,243$9,053$2,256$2,249$

63、2,296$2,247$9,048$2,224$Depreciation and amortization861 857 871 880 3,469 881 914 924 942 3,661 949 Total Operating Expenses3,145 3,083 3,171 3,123 12,522 3,137 3,163 3,220 3,189 12,709 3,173 Operating Income94$168$160$229$651$213$184$196$276$869$349$Operating Income Margin2.9%5.2%4.8%6.8%4.9%6.4%5

64、.5%5.7%8.0%6.4%9.9%EBITDA1955$1,025$1,031$1,109$4,120$1,094$1,098$1,120$1,218$4,530$1,298$EBITDA Margin129.5%31.5%31.0%33.1%31.3%32.7%32.8%32.8%35.2%33.4%36.9%Broadband Revenue Detail11Fiber1,453$1,523$1,613$1,678$6,267$1,736$1,796$1,882$1,977$7,391$2,066$Non Fiber1,074 1,038 1,054 1,022 4,188 986 9

65、45 956 934 3,821 918 See Notes to Financial and Operational Trends on page 13.Page 9CommunicationsConsumer Wireline Operating Volumes and StatisticsVolumes in thousands;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Total Broadband Connections1113,730 13,695 13,710

66、 13,729 13,729 13,784 13,836 13,864 13,987 13,987 14,112 Fiber7,487 7,738 8,034 8,307 8,307 8,559 8,798 9,024 9,331 9,331 9,592 Non Fiber6,243 5,957 5,676 5,422 5,422 5,225 5,038 4,840 4,656 4,656 4,520 Total Broadband Net Adds11,12(23)(35)15 19 (24)55 52 28 123 258 137 Fiber272 251 296 273 1,092 25

67、2 239 226 307 1,024 261 Non Fiber(295)(286)(281)(254)(1,116)(197)(187)(198)(184)(766)(124)AT&T Internet Air(included in non fiber broadband)12Connections-2 26 93 93 203 342 477 635 635 803 Net Adds-2 24 67 93 110 139 135 158 542 181 Converged Customers13AT&T Fiber subscribers with AT&T Mobility2,829

68、 2,943 3,078 3,222 3,222 3,356 3,476 3,579 3,736 3,736 3,859%AT&T Fiber subscribers with AT&T Mobility37.8%38.0%38.3%38.8%38.8%39.2%39.5%39.7%40.0%40.0%40.2%ARPU9Broadband ARPU61.31$62.26$64.91$65.62$63.52$65.98$66.17$68.25$69.69$67.53$70.87$Fiber ARPU65.92 66.70 68.21 68.50 67.37 68.61 69.00 70.36

69、71.71 69.96 72.85 Non Fiber ARPU56.00 56.71 60.43 61.38 58.52 61.81 61.38 64.43 65.78 63.28 66.78 CommunicationsFiber Location Metrics11Volumes in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Total Consumer and Business Locations Passed24.725.426.026.526

70、.527.127.828.328.928.929.5Fiber Served Locations-Consumer19.720.220.721.121.121.522.122.723.323.323.8Fiber Penetration-Consumer38%38%39%39%39%40%40%40%40%40%40%See Notes to Financial and Operational Trends on page 13.Page 10Latin America SegmentStatement of Segment IncomeDollars in millions;Unaudite

71、d3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Segment Operating RevenuesWireless service591$635$672$671$2,569$690$699$645$634$2,668$615$Wireless equipment292 332 320 419 1,363 373 404 377 410 1,564 356 Total Segment Operating Revenues883$967$992$1,090$3,932$1,063$1,103$1,

72、022$1,044$4,232$971$Segment Operating ExpensesOperations and support738$821$837$953$3,349$883$925$854$873$3,535$778$Depreciation and amortization175 185 184 180 724 177 172 158 150 657 150 Total Segment Operating Expenses913 1,006 1,021 1,133 4,073 1,060 1,097 1,012 1,023 4,192 928 Segment Operating

73、 Income(Loss)(30)$(39)$(29)$(43)$(141)$3$6$10$21$40$43$Segment Operating Income Margin-3.4%-4.0%-2.9%-3.9%-3.6%0.3%0.5%1.0%2.0%0.9%4.4%EBITDA1145$146$155$137$583$180$178$168$171$697$193$EBITDA Margin116.4%15.1%15.6%12.6%14.8%16.9%16.1%16.4%16.4%16.5%19.9%Latin America SegmentOperating Volumes and St

74、atistics Volumes in thousands;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Mexico Wireless Subscribers21,613 21,689 21,754 22,316 22,316 22,459 22,636 22,911 23,576 23,576 23,608 Postpaid4,973 5,030 5,085 5,236 5,236 5,352 5,494 5,633 5,837 5,837 5,997 Prepaid16,

75、146 16,196 16,213 16,663 16,663 16,742 16,809 16,996 17,486 17,486 17,376 Reseller494 463 456 417 417 365 333 282 253 253 235 Mexico Wireless Net Adds10 76 65 562 713 143 177 275 665 1,260 32 Mexico Wireless Churn85.83%5.70%5.86%5.69%5.77%5.78%5.78%5.74%5.50%5.70%5.64%Mexico Wireless ARPU97.23$7.78$

76、8.17$8.03$7.80$8.11$8.28$7.54$7.29$7.80$6.95$See Notes to Financial and Operational Trends on page 13.Page 11CorporateSupplemental Results-CorporateDollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Total Operating Revenues104$105$114$135$458$108$11

77、2$117$115$452$95$Operating ExpensesOperations and support692 688 689 736 2,805 717 734 668 798 2,917 719 DTV-related retained costs169 178 167 172 686 134 116 107 108 465 56 Parent administration support374 332 333 377 1,416 392 443 401 486 1,722 439 Securitization fees121 154 164 165 604 165 150 13

78、4 179 628 214 Value portfolio28 24 25 22 99 26 25 26 25 102 10 Depreciation and amortization150 160 150 154 614 125 109 103 100 437 58 Total Operating Expenses842 848 839 890 3,419 842 843 771 898 3,354 777 Operating Loss(738)$(743)$(725)$(755)$(2,961)$(734)$(731)$(654)$(783)$(2,902)$(682)$AT&T Inc.

79、Other Income(Expense)-Net14Dollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Net pension and postretirement credit,excluding actuarial and settlement gain/(loss)797$799$752$704$3,052$598$597$598$599$2,392$508$Expected return on assets747 748 602 56

80、6 2,663 567 568 568 570 2,273 517 Interest cost on projected benefit obligations(601)(601)(501)(513)(2,216)(473)(475)(473)(475)(1,896)(480)Amortization of prior service credit651 652 651 651 2,605 504 504 503 504 2,015 471 Actuarial and settlement gain/(loss),net-74 71 (1,739)(1,594)-(56)(56)-Benefi

81、t-related gain(loss),impairments of investments and other111 82 (507)(76)(390)(254)16 92 (10)(156)(64)Interest income41 50 121 91 303 64 47 49 52 212 40 Other gain/(loss)items(14)(18)3 74 45 43 22 (22)(16)27 (29)Other Income(Expense)-Net935$987$440$(946)$1,416$451$682$717$569$2,419$455$AT&T Inc.Inte

82、rest Expense and Interest IncomeDollars in millions;Unaudited3/31/236/30/239/30/2312/31/2320233/31/246/30/249/30/2412/31/2420243/31/25Interest expense1,708$1,608$1,662$1,726$6,704$1,724$1,699$1,675$1,661$6,759$1,658$Interest during construction272 265 213 124 874 103 96 89 73 361 56 Interest income4

83、1 50 121 91 303 64 47 49 52 212 40 See Notes to Financial and Operational Trends on page 13.Page 12Notes to Financial and Operational TrendsAT&T Inc.1 See Discussion and Reconciliation of Non-GAAP Measures included in Form 8-K dated April 23,2025.2 Prior periods have been recast to conform to the cu

84、rrent period presentation to remove cash flows and equity in net income from our investment in DIRECTV,which we have agreed to sell to TPG.See Forms 8-K dated December 3,2024,January 27,2025,and April 23,2025 for Non-GAAP reconciliations of these metrics.3 Certain prior period amounts have been conf

85、ormed to the current periods presentation providing further disaggregation of activities within Cash from Operations in our consolidated statements of cash flows and additional revenue categories for Business Wireline and Business Solutions.4 Interest during construction is included in both Acquisit

86、ions and in Capital Expenditures(see Additional Cash Flow Information on page 4).5 Reconciling items between Adjusted EBITDA and Free Cash Flow include:(a)Cash Paid for Interest=Cash paid for interest less interest capitalized for capital expenditures and spectrum acquisitions;(b)Cash paid for incom

87、e taxes less cash taxes paid for DIRECTV;(c)Working Capital=Changes in Operating Assets and Liabilities for the five line items reported under this caption in the Consolidated Statements of Cash Flows;(d)Other includes,but not limited to,postretirement claims and contributions,and other changes in n

88、on-current assets and liabilities not included in Working Capital.6 Postpaid upgrade rate is calculated as total postpaid device upgrades for the quarter divided by beginning of period postpaid subscribers.7 FirstNet connections include voice and other connections on our nationwide communications pl

89、atform dedicated to public safety.Connections are mostly included as postpaid subscribers and are comprised of postpaid phone and postpaid other devices(e.g.,tablets,wearables).Additionally,FirstNet connections also include connected devices.8 Churn is calculated by dividing the aggregate number of

90、wireless subscribers who canceled service during a month by the total number of wireless subscribers at the beginning of that month.The churn rate for the period is equal to the average of the churn rate for each month of that period.9 For Mobility and Latin America,ARPU is defined as wireless subsc

91、riber revenues during the period divided by average wireless subscribers during the period.Wireless service revenues include subscriber revenues and other revenues.In Consumer Wireline,(1)Broadband ARPU is defined as Broadband revenues(see footnote 11 below)during the period divided by average Broad

92、band connections(see footnote 11 below)during the period;(2)Fiber ARPU is defined as Fiber revenues in the business unit during the period divided by average Fiber connections during the period;and(3)Non-Fiber ARPU is defined as Non-Fiber revenues in the business unit during the period divided by av

93、erage Non-Fiber connections during the period.10 As a supplemental presentation to our Communications segment operating results,AT&T Business Solutions results are provided in the Financial and Operational Schedules&Non-GAAP Reconciliations document on the companys Investor Relations website,.AT&T B

94、usiness Solutions includes both wireless,including FirstNet,and fixed operations and is calculated by combining our Mobility and Business Wireline operating units and then adjusting to remove non-business operations.This combined view presents a complete profile of the entire business customer relat

95、ionship and underscores the importance of mobile solutions to serving our business customers.11 Broadband revenues are comprised of revenues from Fiber and Non-Fiber subscribers and exclude DSL revenues,which are included in Legacy Voice and Data Services.Broadband connections and net adds exclude D

96、SL.Non-Fiber connections include subscribers to fixed wireless access services.A Fiber Location Served is defined as(1)where fiber has been built to a specific customer location,(2)the customer can place an order for fiber,and(3)service can be provisioned.Consumer fiber penetration is calculated as

97、Consumer fiber connections divided by Consumer fiber locations served.Fiber Locations Passed refers to the total number of potential consumer and business customer locations,such as single-family homes,apartment and condominium units,and small and medium business and enterprise sites,that are passed

98、 by our fiber network and excludes Gigapower.Beginning with 1Q25 reporting,fiber served locations include Gigapower.Fiber location metrics are presented based on available information and are subject to revision.12 First-quarter 2025 excludes the impact of subscriber disconnections resulting from th

99、e termination of AT&T Internet Air services in areas with unfavorable regulatory requirements.13 Converged customers represent AT&T Fiber subscribers that are also primary Mobility account holders that subscribe to consumer postpaid phone service.Fiber metrics for the most recent quarter are present

100、ed based on available information and are subject to revision.14 Other Income(Expense)Net includes certain items,which have been excluded from adjusted EPS.These adjustments are reflected in the following line items of the schedule:(1)Actuarial and settlement gain/(loss),net,and(2)Benefit-related ga

101、in(loss),impairments of investments and other.See Adjusting Items in the Financial and Operational Schedules&Non-GAAP Reconciliations.Prior service credit amortization,a component of net pension and postretirement credit,amounted to$2.0 billion in 2024.Estimated pre-tax amortization of prior service credit for the next four years is:$1.9 billion for 2025,$1.6 billion for 2026,$0.7 billion for 2027,and less than$0.1 billion for 2028.Page 13