# EDGAR Filing Document

**Accession Number:** 0000732717
**File Stem:** 0000732717-23-000006
**Filing Date:** 2023-1
**Character Count:** 65786
**Document Hash:** e5357d69f71af745bc12b656535d4fa5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000732717-23-000006.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0000732717-23-000006

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230125

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AT&T INC.
- **CENTRAL INDEX KEY:** 0000732717
- **STANDARD INDUSTRIAL CLASSIFICATION:** TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
- **IRS NUMBER:** 431301883
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08610
- **FILM NUMBER:** 23549667

**BUSINESS ADDRESS:**
- **STREET 1:** 208 S. AKARD ST
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75202
- **BUSINESS PHONE:** 2108214105

**MAIL ADDRESS:**
- **STREET 1:** 208 S. AKARD ST
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SBC COMMUNICATIONS INC
- **DATE OF NAME CHANGE:** 19950501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOUTHWESTERN BELL CORP
- **DATE OF NAME CHANGE:** 19920703

?xml version="1.0" ? t-20230125

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**______________________________________________________**

**FORM 8-K** 

**______________________________________________________**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported) January 25, 2023**

**______________________________________________________**

**AT&T INC.**

**(Exact Name of Registrant as Specified in Charter)**

**______________________________________________________**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-08610** | **43-1301883** |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission<br>File Number)** | **(IRS Employer<br>Identification No.)** |
| **208 S. Akard St., Dallas, Texas**<br>**(Address of Principal Executive Offices)** | **208 S. Akard St., Dallas, Texas**<br>**(Address of Principal Executive Offices)** | **75202**<br>**(Zip Code)** |
| **208 S. Akard St., Dallas, Texas**<br>**(Address of Principal Executive Offices)** | **208 S. Akard St., Dallas, Texas**<br>**(Address of Principal Executive Offices)** | **75202**<br>**(Zip Code)** |

---

**Registrant's telephone number, including area code (210) 821-4105**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities Registered Pursuant to Section 12(b) of the Act**

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| Common Shares (Par Value $1.00 Per Share) | T | New York Stock Exchange |
| Depositary Shares, each representing a 1/1000th interest in a share of 5.000% Perpetual Preferred Stock, Series A | T PRA | New York Stock Exchange |
| Depositary Shares, each representing a 1/1000th interest in a share of 4.750% Perpetual Preferred Stock, Series C | T PRC | New York Stock Exchange |
| AT&T Inc. 2.500% Global Notes due March 15, 2023 | T 23 | New York Stock Exchange |
| AT&T Inc. 2.750% Global Notes due May 19, 2023 | T 23C | New York Stock Exchange |
| AT&T Inc. Floating Rate Global Notes due September 5, 2023 | T 23D | New York Stock Exchange |
| AT&T Inc. 1.050% Global Notes due September 5, 2023 | T 23E | New York Stock Exchange |
| AT&T Inc. 1.300% Global Notes due September 5, 2023 | T 23A | New York Stock Exchange |

---

------

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange**<br>**on which registered** |
| AT&T Inc. 1.950% Global Notes due September 15, 2023 | T 23F | New York Stock Exchange |
| AT&T Inc. 2.400% Global Notes due March 15, 2024 | T 24A | New York Stock Exchange |
| AT&T Inc. 3.500% Global Notes due December 17, 2025 | T 25 | New York Stock Exchange |
| AT&T Inc. 0.250% Global Notes due March 4, 2026 | T 26E | New York Stock Exchange |
| AT&T Inc. 1.800% Global Notes due September 5, 2026 | T 26D | New York Stock Exchange |
| AT&T Inc. 2.900% Global Notes due December 4, 2026 | T 26A | New York Stock Exchange |
| AT&T Inc. 1.600% Global Notes due May 19, 2028 | T 28C | New York Stock Exchange |
| AT&T Inc. 2.350% Global Notes due September 5, 2029 | T 29D | New York Stock Exchange |
| AT&T Inc. 4.375% Global Notes due September 14, 2029 | T 29B | New York Stock Exchange |
| AT&T Inc. 2.600% Global Notes due December 17, 2029 | T 29A | New York Stock Exchange |
| AT&T Inc. 0.800% Global Notes due March 4, 2030 | T 30B | New York Stock Exchange |
| AT&T Inc. 2.050% Global Notes due May 19, 2032 | T 32A | New York Stock Exchange |
| AT&T Inc. 3.550% Global Notes due December 17, 2032 | T 32 | New York Stock Exchange |
| AT&T Inc. 5.200% Global Notes due November 18, 2033 | T 33 | New York Stock Exchange |
| AT&T Inc. 3.375% Global Notes due March 15, 2034 | T 34 | New York Stock Exchange |
| AT&T Inc. 2.450% Global Notes due March 15, 2035 | T 35 | New York Stock Exchange |
| AT&T Inc. 3.150% Global Notes due September 4, 2036 | T 36A | New York Stock Exchange |
| AT&T Inc. 2.600% Global Notes due May 19, 2038 | T 38C | New York Stock Exchange |
| AT&T Inc. 1.800% Global Notes due September 14, 2039 | T 39B | New York Stock Exchange |
| AT&T Inc. 7.000% Global Notes due April 30, 2040 | T 40 | New York Stock Exchange |
| AT&T Inc. 4.250% Global Notes due June 1, 2043 | T 43 | New York Stock Exchange |
| AT&T Inc. 4.875% Global Notes due June 1, 2044 | T 44 | New York Stock Exchange |
| AT&T Inc. 4.000% Global Notes due June 1, 2049 | T 49A | New York Stock Exchange |
| AT&T Inc. 4.250% Global Notes due March 1, 2050 | T 50 | New York Stock Exchange |
| AT&T Inc. 3.750% Global Notes due September 1, 2050 | T 50A | New York Stock Exchange |
| AT&T Inc. 5.350% Global Notes due November 1, 2066 | TBB | New York Stock Exchange |
| AT&T Inc. 5.625% Global Notes due August 1, 2067 | TBC | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 8.01 Other Events.**

Throughout this document, AT&T Inc. is referred to as "we" or "AT&T." AT&T is a holding company whose subsidiaries and affiliates operate worldwide in the telecommunications and technology industries.

On April 8, 2022, we completed the separation of our WarnerMedia business and recast historical financial results to present WarnerMedia and other business dispositions that were components of AT&T's single plan of a strategic shift as discontinued operations. The discussion below refers to our continuing operations and includes the results of the U.S. Video business that was separated in July 2021.

**Overview**

We announced on January 25, 2023 that fourth-quarter 2022 loss from continuing operations totaled $(23.1) billion, or $(3.20) per share. Fourth-quarter 2022 loss per share includes amounts totaling to $(29.4) billion (pre-tax) resulting from the following significant items (per share): $(3.57) of noncash impairment and abandonment, and restructuring charges, $(0.19) of actuarial losses on remeasurement of our pension and postemployment benefit plan assets and obligations, $(0.04) of DIRECTV intangible amortization, $(0.04) of other benefit related market-driven adjustments, partially offset by $0.04 of benefits from tax items. The dilutive impact of $(0.01) from our adoption of Accounting Standards Update (ASU) No. 2020-06 (ASU 2020-06), was not included in our computation of earnings per share because their effect is antidilutive as a result of the net loss. The results compare with a reported income from continuing operations of $5.2 billion, or $0.66 per diluted share, in the fourth quarter of 2021, which included $0.11 per share primarily related to actuarial gains and $(0.01) per share from our retrospective adoption of ASU 2020-06. For the full year 2022, loss from continuing operations was $(6.9) billion versus income from continuing operations of $23.8 billion in 2021. Full-year 2022 loss per share was $(1.10) and included the following significant items (per share): $(3.59) of noncash impairment and abandonment, and restructuring charges, $(0.16) of DIRECTV intangible amortization, $(0.19) of other benefit related market-driven adjustments, partially offset by $0.20 of actuarial gains and $0.13 of benefits from tax items. The dilutive impact of $(0.06) from our adoption of ASU 2020-06, was not included in our computation of earnings per share because their effect is antidilutive as a result of the net loss. Full-year 2021 diluted earnings per share was $3.02 and included $0.42 per share of actuarial gains, tax and other significant items, $0.22 per share from U.S. Video and other dispositions and $(0.03) from the retrospective adoption of ASU 2020-06.

Operating revenues in the fourth quarter of 2022 were $31.3 billion, up 0.8 percent from the fourth quarter of 2021, and full-year 2022 revenues were $120.7 billion, down 9.9 percent from the previous full year. Revenue increases reflect growth in Mobility and increased Mexico and Consumer Wireline revenues, partially offset by lower Business Wireline revenues. Full-year 2022 revenue declines reflect the impact of our divested U.S. Video business and other businesses that did not qualify as discontinued operations.

Operating expenses in the fourth quarter of 2022 were $52.4 billion, compared to $26.2 billion in the comparable 2021 period, and full-year 2022 operating expenses were $125.3 billion, up 15.9 percent from the previous full year. Operating expenses increased primarily due to $24.8 billion of noncash goodwill impairments associated with our Business Wireline, Consumer Wireline and Mexico reporting units, which were driven by higher discount rates consistent with the macroeconomic environment, with secular declines also impacting Business Wireline forecasted cash flows. Expenses also included $1.4 billion of wireline conduit asset abandonments and $0.5 billion of restructuring and other impairment charges. Also contributing to expense increases were higher bad debt expense and increased depreciation, partially offset by lower wireless equipment costs from lower volumes and the lack of 3G network shutdown costs in the fourth quarter of 2022. Full-year 2022 expenses increases were partially offset by the impact of our divested businesses.

Operating loss in the fourth quarter of 2022 was $(21.1) billion compared to income of $4.9 billion in the comparable 2021 period, and full-year 2022 operating loss was $(4.6) billion compared to income of $25.9 billion for the full-year 2021. AT&T's fourth-quarter operating income margin was (67.3) percent, compared to 15.7 percent in the comparable 2021 period, and full-year 2022 operating income margin was (3.8) percent compared to 19.3 percent.

Other income (expense) - net in the fourth quarter of 2022 was $(0.9) billion compared to $2.4 billion in the comparable 2021 period and full-year 2022 other income (expense) - net was $5.8 billion compared to $9.4 billion for the full-year 2021. The decrease reflects a $1.8 billion actuarial loss on pension and postretirement benefits in the fourth quarter of 2022 versus a $1.1 billion gain in the prior-year quarter. Fourth-quarter 2022 benefit expense also included approximately $140 million favorable impact from a retirement benefit plan change, with $115 million resulting from prior service credits from benefit plan amendments. The full-year decrease reflects a $2.0 billion actuarial gain on pension and postretirement benefits versus a $4.1 billion gain in the prior-year.

Cash from operating activities for the full-year 2022 was $35.8 billion, down $1.4 billion when compared to 2021, reflecting higher payments for wireless devices and the separation of U.S. Video in 2021, partially offset by receivable sales. Capital expenditures in 2022 were $19.6 billion, and when including $4.7 billion cash paid for vendor financing, capital investment was

------

$24.3 billion, compared to prior-year capital investment of $20.1 billion (capital expenditures of $15.5 billion and cash paid for vendor financing of $4.6 billion).

**Segment Summary**

We analyze our segments based on segment operating income, which excludes acquisition-related costs and other significant items. Our reportable segments are: Communications and Latin America.

**Communications**

Our Communications segment consists of our Mobility, Business Wireline and Consumer Wireline business units.

Operating revenues for the fourth quarter of 2022 were $30.4 billion, up 0.5 percent versus fourth-quarter 2021, with segment operating income of $7.2 billion, up 12.7 percent versus the year-ago quarter. The Communications segment operating income margin was 23.8 percent, compared to 21.2 percent in the year-earlier quarter. We present the impact of benefit plan amendments in our business unit results, with the Communications segment operating income margins including $115 million of operating expense reduction, with offset in Corporate and no impact to consolidated operating income.

*Mobility*

Mobility revenues for the fourth quarter of 2022 were $21.5 billion, up 1.7 percent versus the fourth quarter of 2021, driven by service revenue growth from subscriber and ARPU growth, partially offset by lower equipment revenue from lower volumes. Mobility operating expenses totaled $15.5 billion, down 2.3 percent versus the fourth quarter of 2021 due to lower wireless equipment costs, including the absence of 3G network shutdown costs versus the fourth quarter of 2021, a gain on tower sales, lower advertising costs and lower HBO Max licensing fees. Partially offsetting the decreases were higher bad debt expense, increased amortization of customer acquisition costs and the elimination of CAF II government credits. Mobility's operating income margin was 28.1 percent compared to 25.2 percent in the year-ago quarter.

In our Mobility business unit, during the fourth quarter of 2022, we reported a net gain of 6.4 million wireless subscribers. At December 31, 2022, wireless subscribers totaled 217.4 million (including approximately 4.4 million FirstNet connections) compared to 201.8 million at December 31, 2021.

During the fourth quarter, total phone net adds (postpaid and prepaid) were 643,000, with total net adds by subscriber category as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Postpaid subscriber net adds were 1.1 million, with phone net adds of 656,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Prepaid subscriber net losses were 9,000, with phone net losses of 13,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reseller net adds were 150,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Connected device net adds were 5.1 million, 2.6 million of which were attributable to wholesale connected cars.

For the quarter ended December 31, 2022, postpaid phone-only ARPU increased 2.5 percent versus the year-earlier quarter.

Postpaid phone-only churn was 0.84 percent compared to 0.85 percent in the fourth quarter of 2021. Total postpaid churn was 1.01 percent compared to 1.02 percent in the year-ago quarter.

*Business Wireline*

Business Wireline revenues for the fourth quarter of 2022 were $5.6 billion, down 4.5 percent versus the year-ago quarter, primarily due to lower demand for legacy voice and data services and product simplification, partially offset by growth in connectivity services and revenues of approximately $90 million from intellectual property sales. Business Wireline operating expenses totaled $4.8 billion, down 3.8 percent when compared to the fourth quarter of 2021 due to ongoing operational cost efficiencies, credits from a benefit plan change in the third quarter of 2022, and lower amortization of deferred fulfillment costs, partially offset by higher wholesale access network costs and depreciation expense. Business Wireline operating income margin was 14.2 percent compared to 14.8 percent in the year-earlier quarter.

*Consumer Wireline*

Consumer Wireline revenues for the fourth quarter of 2022 were $3.2 billion, up 2.2 percent versus the year-ago quarter, driven by growth in broadband revenues attributable to fiber growth, partially offset by declines in legacy voice and data services and other services. Consumer Wireline operating expenses totaled $2.9 billion, down 3.5 percent versus the fourth quarter of 2021, largely driven by lower network and customer support costs, decreases in advertising expense and HBO Max licensing fees, and credits associated with a retirement benefit plan change in the third quarter of 2022. Partially offsetting the decreases was the elimination of CAF II government credits, higher bad debt expense and increased depreciation expense. Consumer Wireline operating income margin was 11.6 percent compared to 6.4 percent in the year-earlier quarter.

At December 31, 2022, Consumer Wireline had approximately 13.8 million broadband connections compared to 13.8 million at December 31, 2021. During the fourth quarter, broadband subscribers net losses were 43,000, with fiber broadband net adds of

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280,000. Total broadband and DSL connections were 14.0 million at December 31, 2022, compared to 14.2 million at December 31, 2021.

**Latin America**

Our Latin America segment consists of our Mexico business unit and is subject to foreign currency fluctuations.

Fourth-quarter 2022 operating revenues were $861 million, up 22.3 percent when compared to the fourth quarter of 2021, primarily due to increased service revenues driven by wholesale revenue and subscribers, higher equipment revenues and the favorable impact of foreign exchange. Operating expenses were $940 million, up 14.5 percent, driven by higher equipment, sales and customer support costs, and unfavorable impact of foreign exchange and network expense. Mexico's operating income margin was (9.2) percent, compared to (16.6) percent in the year-earlier quarter.

We had approximately 21.6 million Mexico wireless subscribers at December 31, 2022 compared to 20.4 million at December 31, 2021. During the fourth quarter of 2022, we had prepaid net adds of 515,000 and postpaid net adds of 71,000.

**CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS**

Information set forth in this filing contains financial estimates and other forward-looking statements that are subject to risks and uncertainties. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this filing based on new information or otherwise

**Item 9.01 Financial Statements and Exhibits.**

The following exhibits are furnished as part of this report:

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| | | |
|:---|:---|:---|
| (d) | Exhibits | Exhibits |
| | <u>[99.1](t-4q2022801exhibit991.htm)</u> | <u>[AT&T Inc. selected financial statements and operating data.](t-4q2022801exhibit991.htm)</u> |
| | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**Signature**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| | AT&T INC. |
| Date: January 25, 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: /<u>s/ Debra L. Dial</u> <u>.</u><br>&nbsp;&nbsp;&nbsp;&nbsp; Debra L. Dial<br>Senior Vice President - Chief Accounting Officer <br>&nbsp;&nbsp;&nbsp;&nbsp;and Controller |

---

## Exhibit 99.1

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **AT&T Inc.** | | | | | | |
| **Financial Data** | | | | | | |
| **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** |
| *Dollars in millions except per share amounts* |  |  |  |  |  |  |
| *Unaudited* | Fourth Quarter | Fourth Quarter | Percent | Year Ended | Year Ended | Percent |
|  | **2022** | 2021 | Change | **2022** | 2021 | Change |
| **Operating Revenues** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service | $**24833** | $24225 | 2.5% | $**97831** | $111565 | (12.3)% |
| &nbsp;&nbsp;&nbsp;Equipment | **6510** | 6870 | (5.2)% | **22910** | 22473 | 1.9% |
| &nbsp;&nbsp;&nbsp;**Total Operating Revenues** | **31343** | 31095 | 0.8% | **120741** | 134038 | (9.9)% |
| **Operating Expenses** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cost of revenues |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | **6999** | 7443 | (6.0)% | **24009** | 23685 | 1.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcast, programming and operations | **—** |  | —% | **—** | 8106 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other cost of revenues (exclusive of<br>depreciation and amortization shown<br>separately below) | **6572** | 6782 | (3.1)% | **26839** | 28616 | (6.2)% |
| &nbsp;&nbsp;&nbsp;Selling, general and administrative | **7516** | 7368 | 2.0% | **28961** | 29669 | (2.4)% |
| &nbsp;&nbsp;&nbsp;Asset impairments and abandonments<br> and restructuring | **26753** | 108 | —% | **27498** | 213 | —% |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | **4595** | 4500 | 2.1% | **18021** | 17852 | 0.9% |
| &nbsp;&nbsp;&nbsp;**Total Operating Expenses** | **52435** | 26201 | —% | **125328** | 108141 | 15.9% |
| **Operating Income (Loss)** | **(21092)** | 4894 | —% | **(4587)** | 25897 | —% |
| **Interest Expense** | **1560** | 1626 | (4.1)% | **6108** | 6716 | (9.1)% |
| **Equity in Net Income of Affiliates** | **374** | 444 | (15.8)% | **1791** | 603 | —% |
| **Other Income (Expense) — Net** | **(919)** | 2429 | —% | **5810** | 9387 | (38.1)% |
| **Income (Loss) from Continuing Operations<br> Before Income Taxes** | **(23197)** | 6141 | —% | **(3094)** | 29171 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense (benefit) on continuing<br> operations | **(77)** | 939 | —% | **3780** | 5395 | (29.9)% |
| **Income (Loss) From Continuing Operations** | **(23120)** | 5202 | —% | **(6874)** | 23776 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from discontinued<br> operations, net of tax | **(35)** | 188 | —% | **(181)** | (2297) | 92.1% |
| **Net Income (Loss)** | **(23155)** | 5390 | —% | **(7055)** | 21479 | —% |
| **Less: Net Income Attributable to<br> Noncontrolling Interest** | **(362)** | (347) | (4.3)% | **(1469)** | (1398) | (5.1)% |
| **Net Income (Loss) Attributable to AT&T** | $**(23517)** | $5043 | —% | $**(8524)** | $20081 | —% |
| **Less: Preferred Stock Dividends** | **(54)** | (51) | (5.9)% | **(203)** | (207) | 1.9% |
| **Net Income (Loss) Attributable to Common Stock** | $**(23571)** | $4992 | —% | $**(8727)** | $19874 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Basic Earnings (Loss) Per Share Attributable to** <br>**Common Stock** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;From continuing operations | $**(3.20)** | $0.67 | —% | $**(1.10)** | $3.07 | —% |
| &nbsp;&nbsp;&nbsp;From discontinued operations | $**—** | $0.02 | —% | $**(0.03)** | $(0.30) | 90.0% |
|  | $**(3.20)** | $0.69 | —% | $**(1.13)** | $2.77 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted Average Common Shares <br>Outstanding (000000) | **7157** | 7172 | (0.2)% | **7166** | 7168 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diluted Earnings (Loss) Per Share Attributable to** <br>**Common Stock** <sup>1</sup> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;From continuing operations | $**(3.20)** | $0.66 | —% | $**(1.10)** | $3.02 | —% |
| &nbsp;&nbsp;&nbsp;From discontinued operations | $**—** | $0.02 | —% | $**(0.03)** | $(0.29) | 89.7% |
|  | $**(3.20)** | $0.68 | —% | $**(1.13)** | $2.73 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted Average Common Shares <br>Outstanding with Dilution (000000) <sup>1</sup> | **7533** | 7541 | (0.1)% | **7587** | 7503 | 1.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Reflects retrospective adoption of Accounting Standards Update (ASU) No. 2020-06 | &nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Reflects retrospective adoption of Accounting Standards Update (ASU) No. 2020-06 | &nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Reflects retrospective adoption of Accounting Standards Update (ASU) No. 2020-06 | &nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Reflects retrospective adoption of Accounting Standards Update (ASU) No. 2020-06 | &nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Reflects retrospective adoption of Accounting Standards Update (ASU) No. 2020-06 | &nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Reflects retrospective adoption of Accounting Standards Update (ASU) No. 2020-06 | &nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Reflects retrospective adoption of Accounting Standards Update (ASU) No. 2020-06 |

---

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| | | |
|:---|:---|:---|
| **AT&T Inc.** | | |
| **Financial Data** | | |
| **Consolidated Balance Sheets** | **Consolidated Balance Sheets** | **Consolidated Balance Sheets** |
| *Dollars in millions* |  |  |
| *Unaudited* | **Dec. 31,** | Dec. 31, |
|  | **2022** | 2021 |
| **Assets** |  |  |
| **Current Assets** |  |  |
| Cash and cash equivalents | $**3701** | $19223 |
| Accounts receivable – net of related allowance for credit loss of $588 and $658 | **11466** | 12313 |
| Inventories | **3123** | 3325 |
| Prepaid and other current assets | **14818** | 16131 |
| Assets from discontinued operations | **—** | 119776 |
| Total current assets | **33108** | 170768 |
| **Property, Plant and Equipment – Net** | **127445** | 121649 |
| **Goodwill – Net** | **67895** | 92740 |
| **Licenses – Net** | **124092** | 113830 |
| **Other Intangible Assets – Net** | **5354** | 5391 |
| **Investments in and Advances to Equity Affiliates** | **3533** | 6168 |
| **Operating Lease Right-Of-Use Assets** | **21814** | 21824 |
| **Other Assets** | **19612** | 19252 |
| **Total Assets** | $**402853** | $551622 |
| **Liabilities and Stockholders' Equity** |  |  |
| **Current Liabilities** |  |  |
| Debt maturing within one year | $**7467** | $24620 |
| Note payable to DIRECTV | **130** | 1245 |
| Accounts payable and accrued liabilities | **42644** | 39095 |
| Advanced billings and customer deposits | **3918** | 3966 |
| Dividends payable | **2014** | 3749 |
| Liabilities from discontinued operations | **—** | 33555 |
| Total current liabilities | **56173** | 106230 |
| **Long-Term Debt** | **128423** | 151011 |
| **Deferred Credits and Other Noncurrent Liabilities** |  |  |
| Deferred income taxes | **57032** | 53767 |
| Postemployment benefit obligation | **7260** | 12560 |
| Operating lease liabilities | **18659** | 18956 |
| Other noncurrent liabilities | **28849** | 25243 |
| Total deferred credits and other noncurrent liabilities | **111800** | 110526 |
| **Stockholders' Equity** |  |  |
| Preferred stock | **—** |  |
| Common stock | **7621** | 7621 |
| Additional paid-in capital | **123610** | 130112 |
| Retained (deficit) earnings | **(19415)** | 42350 |
| Treasury stock | **(17082)** | (17280) |
| Accumulated other comprehensive income | **2766** | 3529 |
| Noncontrolling interest | **8957** | 17523 |
| Total stockholders' equity | **106457** | 183855 |
| **Total Liabilities and Stockholders' Equity** | $**402853** | $551622 |

---

------

---

| | | |
|:---|:---|:---|
| **AT&T Inc.** | | |
| **Financial Data** | | |
| **Consolidated Statements of Cash Flows** | **Consolidated Statements of Cash Flows** | **Consolidated Statements of Cash Flows** |
| *Dollars in millions* |  |  |
| *Unaudited* | Year Ended | Year Ended |
|  | **2022** | 2021 |
| **Operating Activities** |  |  |
| Income (loss) from continuing operations | $**(6874)** | $23776 |
| Adjustments to reconcile income (loss) from continuing operations to net cash provided by<br>&nbsp;&nbsp;&nbsp;&nbsp;operating activities from continuing operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | **18021** | 17852 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for uncollectible accounts | **1865** | 1241 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax expense | **2975** | 7412 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (gain) loss on investments, net of impairments | **381** | (369) |
| &nbsp;&nbsp;&nbsp;&nbsp;Pension and postretirement benefit expense (credit) | **(3237)** | (3857) |
| &nbsp;&nbsp;&nbsp;&nbsp;Actuarial (gain) loss on pension and postretirement benefits | **(1999)** | (4143) |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset impairments and abandonments and restructuring | **27498** | 213 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivables | **727** | (1125) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current assets | **(674)** | (1288) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and other accrued liabilities | **(1109)** | (1570) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment installment receivables and related sales | **154** | (271) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred customer contract acquisition and fulfillment costs | **(947)** | 18 |
| Postretirement claims and contributions | **(823)** | (822) |
| Other - net | **(146)** | 103 |
| Total adjustments | **42686** | 13394 |
| Net Cash Provided by Operating Activities from Continuing Operations | **35812** | 37170 |
| **Investing Activities** |  |  |
| Capital expenditures | **(19626)** | (15545) |
| Acquisitions, net of cash acquired | **(10200)** | (25453) |
| Dispositions | **199** | 7136 |
| Distributions from DIRECTV in excess of cumulative equity in earnings | **2649** | 1323 |
| Other - net | **79** | 50 |
| Net Cash Used in Investing Activities from Continuing Operations | **(26899)** | (32489) |
| **Financing Activities** |  |  |
| Net change in short-term borrowings with original maturities of three months or less | **(519)** | 1316 |
| Issuance of other short-term borrowings | **3955** | 21856 |
| Repayment of other short-term borrowings | **(18345)** | (7510) |
| Issuance of long-term debt | **2979** | 9931 |
| Repayment of long-term debt | **(25118)** | (3039) |
| Note payable to DIRECTV, net of payments | **(1211)** | 1341 |
| Payment of vendor financing | **(4697)** | (4596) |
| Purchase of treasury stock | **(890)** | (202) |
| Issuance of treasury stock | **28** | 96 |
| Redemption of preferred interest in subsidiaries | **(2665)** |  |
| Dividends paid | **(9859)** | (15068) |
| Other - net | **(3222)** | (2231) |
| Net Cash (Used in) Provided by Financing Activities from Continuing Operations | **(59564)** | 1894 |
| Net (decrease) increase in cash and cash equivalents and restricted cash from<br>&nbsp;&nbsp;&nbsp;&nbsp;continuing operations | **(50651)** | 6575 |
| **Cash flows from Discontinued Operations:** |  |  |
| Cash (used in) provided by operating activities | **(3789)** | 4788 |
| Cash provided by (used in) investing activities | **1094** | 399 |
| Cash provided by (used in) financing activities | **35823** | (316) |
| Net increase (decrease) in cash and cash equivalents and restricted cash from discontinued operations | **33128** | 4871 |
| **Net (decrease) increase in cash and cash equivalents and restricted cash** | $**(17523)** | $11446 |
| Cash and cash equivalents and restricted cash beginning of year | **21316** | 9870 |
| **Cash and Cash Equivalents and Restricted Cash End of Year** | $**3793** | $21316 |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **AT&T Inc.** | **AT&T Inc.** | **AT&T Inc.** | **AT&T Inc.** | | | | |
| **Consolidated Supplementary Data** | **Consolidated Supplementary Data** | **Consolidated Supplementary Data** | **Consolidated Supplementary Data** | | | | |
| **Supplementary Financial Data** | **Supplementary Financial Data** | **Supplementary Financial Data** | **Supplementary Financial Data** | **Supplementary Financial Data** | **Supplementary Financial Data** | **Supplementary Financial Data** | **Supplementary Financial Data** |
| *Dollars in millions except per share amounts* |  |  |  |  |  |  |  |
| *Unaudited* | Fourth Quarter | Fourth Quarter | Percent | Year Ended | Year Ended | Percent | Percent |
|  | **2022** | 2021 | Change | **2022** | 2021 | Change | Change |
| Capital expenditures |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase of property and equipment | $**4179** | $3453 | 21.0% | $**19452** | $15372 | 26.5 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest during construction | **50** | 41 | 22.0% | **174** | 173 | 0.6 | % |
| Total Capital Expenditures | $**4229** | $3494 | 21.0% | $**19626** | $15545 | 26.3 | % |
| Acquisitions, net of cash acquired |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business acquisitions | $**—** | $— | —% | $**—** | $— |  | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spectrum acquisitions | **4** | 1655 | —% | **9080** | 24672 | (63.2) | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest during construction - spectrum | **237** | 265 | (10.6)% | **1120** | 781 | 43.4 | % |
| Total Acquisitions | $**241** | $1920 | (87.4)% | $**10200** | $25453 | (59.9) | % |
| Cash paid for interest - continuing operations | $**1791** | $1554 | 15.3% | $**7772** | $7485 | 3.8 | % |
| Cash paid for income taxes, net of refunds - <br>&nbsp;&nbsp;&nbsp;&nbsp;continuing operations<sup>1</sup> | $**192** | $36 | —% | $**592** | $251 |  | % |
| Dividends Declared per Common Share | $**0.2775** | $0.52 | (46.6)% | $**1.11** | $2.08 | (46.6) | % |
| End of Period Common Shares Outstanding (000000) |  |  |  | **7128** | 7141 | (0.2) | % |
| Debt Ratio |  |  |  | **56.1%** | 48.9% | 720 | BP |
| Total Employees |  |  |  | **162920** | 172880 | (5.8) | % |
| <sup>1</sup> Total cash income taxes paid, net of refunds, by AT&T for the quarters ended December 31, 2022 and 2021 were $192 and $162, and $696 and $700 for the years ended December 31, 2022 and 2021.  | <sup>1</sup> Total cash income taxes paid, net of refunds, by AT&T for the quarters ended December 31, 2022 and 2021 were $192 and $162, and $696 and $700 for the years ended December 31, 2022 and 2021.  | <sup>1</sup> Total cash income taxes paid, net of refunds, by AT&T for the quarters ended December 31, 2022 and 2021 were $192 and $162, and $696 and $700 for the years ended December 31, 2022 and 2021.  | <sup>1</sup> Total cash income taxes paid, net of refunds, by AT&T for the quarters ended December 31, 2022 and 2021 were $192 and $162, and $696 and $700 for the years ended December 31, 2022 and 2021.  | <sup>1</sup> Total cash income taxes paid, net of refunds, by AT&T for the quarters ended December 31, 2022 and 2021 were $192 and $162, and $696 and $700 for the years ended December 31, 2022 and 2021.  | <sup>1</sup> Total cash income taxes paid, net of refunds, by AT&T for the quarters ended December 31, 2022 and 2021 were $192 and $162, and $696 and $700 for the years ended December 31, 2022 and 2021.  | <sup>1</sup> Total cash income taxes paid, net of refunds, by AT&T for the quarters ended December 31, 2022 and 2021 were $192 and $162, and $696 and $700 for the years ended December 31, 2022 and 2021.  | <sup>1</sup> Total cash income taxes paid, net of refunds, by AT&T for the quarters ended December 31, 2022 and 2021 were $192 and $162, and $696 and $700 for the years ended December 31, 2022 and 2021.  |

---

------

**<u>COMMUNICATIONS SEGMENT</u>**

The Communications segment provides wireless and wireline telecom and broadband services to consumers located in the U.S. and businesses globally. The Communications segment contains three reporting units: Mobility, Business Wireline, and Consumer Wireline.

Results have been recast to refine the allocation of shared infrastructure costs between the Communications segment and Corporate and Other.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** |
| *Dollars in millions* |  |  |  |  |  |  |
| *Unaudited* | Fourth Quarter | Fourth Quarter | Percent | Year Ended | Year Ended | Percent |
|  | **2022** | 2021 | Change | **2022** | 2021 | Change |
| **Segment Operating Revenues** |  |  |  |  |  |  |
| &nbsp;&nbsp;Mobility | $**21501** | $21146 | 1.7% | $**81780** | $78254 | 4.5% |
| &nbsp;&nbsp;Business Wireline | **5635** | 5901 | (4.5)% | **22538** | 23937 | (5.8)% |
| &nbsp;&nbsp;Consumer Wireline | **3229** | 3159 | 2.2% | **12749** | 12539 | 1.7% |
| Total Segment Operating Revenues | **30365** | 30206 | 0.5% | **117067** | 114730 | 2.0% |
| **Segment Operating Income** |  |  |  |  |  |  |
| &nbsp;&nbsp;Mobility | **6044** | 5332 | 13.4% | **24528** | 23370 | 5.0% |
| &nbsp;&nbsp;Business Wireline | **801** | 876 | (8.6)% | **3252** | 4027 | (19.2)% |
| &nbsp;&nbsp;Consumer Wireline | **376** | 202 | 86.1% | **1327** | 996 | 33.2% |
| Total Segment Operating Income | $**7221** | $6410 | 12.7% | $**29107** | $28393 | 2.5% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** |
| *Subscribers and connections in thousands* |  |  |  |  |  |  |
| *Unaudited* |  |  |  | December 31, | December 31, | Percent |
|  |  |  |  | **2022** | 2021 | Change |
| **Broadband Connections** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadband |  |  |  | **15075** | 15074 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;DSL |  |  |  | **311** | 430 | (27.7)% |
| Total Broadband Connections |  |  |  | **15386** | 15504 | (0.8)% |
| **Voice Connections** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Consumer Switched Access Lines |  |  |  | **5213** | 6177 | (15.6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;U-verse Consumer VoIP Connections |  |  |  | **2930** | 3333 | (12.1)% |
| Total Retail Consumer Voice Connections |  |  |  | **8143** | 9510 | (14.4)% |
|  | Fourth Quarter | Fourth Quarter | Percent | Year Ended | Year Ended | Percent |
|  | **2022** | 2021 | Change | **2022** | 2021 | Change |
| **Broadband Net Additions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadband | **(37)** | 24 | —% | **1** | 256 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;DSL | **(29)** | (30) | 3.3% | **(119)** | (136) | 12.5% |
| Total Broadband Net Additions | **(66)** | (6) | —% | **(118)** | 120 | —% |

---

------

**<u>Mobility</u>**

Mobility provides nationwide wireless service and equipment.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Mobility Results** | **Mobility Results** | **Mobility Results** | **Mobility Results** | **Mobility Results** | **Mobility Results** | **Mobility Results** | **Mobility Results** | **Mobility Results** |
| *Dollars in millions* |  |  |  |  |  |  |  |  |
| *Unaudited* | Fourth Quarter | Fourth Quarter | Percent | Percent | Year Ended | Year Ended | Percent | Percent |
|  | **2022** | 2021 | Change | Change | **2022** | 2021 | Change | Change |
| **Operating Revenues** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service | $**15434** | $14669 | 5.2 | % | $**60499** | $57590 | 5.1 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equipment | **6067** | 6477 | (6.3) | % | **21281** | 20664 | 3.0 | % |
| &nbsp;&nbsp;&nbsp;**Total Operating Revenues** | **21501** | 21146 | 1.7 | % | **81780** | 78254 | 4.5 | % |
| **Operating Expenses** |  |  |  |  |  |  |  |  |
| Operations and support | **13377** | 13764 | (2.8) | % | **49054** | 46762 | 4.9 | % |
| Depreciation and amortization | **2080** | 2050 | 1.5 | % | **8198** | 8122 | 0.9 | % |
| &nbsp;&nbsp;&nbsp;**Total Operating Expenses** | **15457** | 15814 | (2.3) | % | **57252** | 54884 | 4.3 | % |
| **Operating Income** | $**6044** | $5332 | 13.4 | % | $**24528** | $23370 | 5.0 | % |
| **Operating Income Margin** | **28.1%** | 25.2% | 290 | BP | **30.0%** | 29.9% | 10 | BP |
| **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** |
| *Subscribers and connections in thousands* |  |  |  |  |  |  |  |  |
| *Unaudited* |  |  |  |  | December 31, | December 31, | Percent | Percent |
|  |  |  |  |  | **2022** | 2021 | Change | Change |
| **Mobility Subscribers** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Postpaid |  |  |  |  | **84700** | 81534 | 3.9 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Postpaid phone |  |  |  |  | **69596** | 67260 | 3.5 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid |  |  |  |  | **19176** | 19028 | 0.8 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;Reseller |  |  |  |  | **6043** | 6113 | (1.1) | % |
| &nbsp;&nbsp;&nbsp;&nbsp;Connected Devices |  |  |  |  | **107478** | 95116 | 13.0 | % |
| Total Mobility Subscribers<sup>1</sup> |  |  |  |  | **217397** | 201791 | 7.7 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Wireless subscribers at December 31, 2022 excludes the impact of 10,537 subscriber and connected device disconnections resulting from our 3G network shutdown in February 2022. Postpaid disconnections were 897, including 438 phone, 234 prepaid, 749 reseller subscribers, and 8,657 connected devices. The fourth quarter includes an adjustment of 360 subscribers, primarily connected devices. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Wireless subscribers at December 31, 2022 excludes the impact of 10,537 subscriber and connected device disconnections resulting from our 3G network shutdown in February 2022. Postpaid disconnections were 897, including 438 phone, 234 prepaid, 749 reseller subscribers, and 8,657 connected devices. The fourth quarter includes an adjustment of 360 subscribers, primarily connected devices. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Wireless subscribers at December 31, 2022 excludes the impact of 10,537 subscriber and connected device disconnections resulting from our 3G network shutdown in February 2022. Postpaid disconnections were 897, including 438 phone, 234 prepaid, 749 reseller subscribers, and 8,657 connected devices. The fourth quarter includes an adjustment of 360 subscribers, primarily connected devices. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Wireless subscribers at December 31, 2022 excludes the impact of 10,537 subscriber and connected device disconnections resulting from our 3G network shutdown in February 2022. Postpaid disconnections were 897, including 438 phone, 234 prepaid, 749 reseller subscribers, and 8,657 connected devices. The fourth quarter includes an adjustment of 360 subscribers, primarily connected devices. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Wireless subscribers at December 31, 2022 excludes the impact of 10,537 subscriber and connected device disconnections resulting from our 3G network shutdown in February 2022. Postpaid disconnections were 897, including 438 phone, 234 prepaid, 749 reseller subscribers, and 8,657 connected devices. The fourth quarter includes an adjustment of 360 subscribers, primarily connected devices. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Wireless subscribers at December 31, 2022 excludes the impact of 10,537 subscriber and connected device disconnections resulting from our 3G network shutdown in February 2022. Postpaid disconnections were 897, including 438 phone, 234 prepaid, 749 reseller subscribers, and 8,657 connected devices. The fourth quarter includes an adjustment of 360 subscribers, primarily connected devices. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Wireless subscribers at December 31, 2022 excludes the impact of 10,537 subscriber and connected device disconnections resulting from our 3G network shutdown in February 2022. Postpaid disconnections were 897, including 438 phone, 234 prepaid, 749 reseller subscribers, and 8,657 connected devices. The fourth quarter includes an adjustment of 360 subscribers, primarily connected devices. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Wireless subscribers at December 31, 2022 excludes the impact of 10,537 subscriber and connected device disconnections resulting from our 3G network shutdown in February 2022. Postpaid disconnections were 897, including 438 phone, 234 prepaid, 749 reseller subscribers, and 8,657 connected devices. The fourth quarter includes an adjustment of 360 subscribers, primarily connected devices. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup>Wireless subscribers at December 31, 2022 excludes the impact of 10,537 subscriber and connected device disconnections resulting from our 3G network shutdown in February 2022. Postpaid disconnections were 897, including 438 phone, 234 prepaid, 749 reseller subscribers, and 8,657 connected devices. The fourth quarter includes an adjustment of 360 subscribers, primarily connected devices. |
|  | Fourth Quarter | Fourth Quarter | Percent | Percent | Year Ended | Year Ended | Percent | Percent |
|  | **2022** | 2021 | Change | Change | **2022** | 2021 | Change | Change |
| **Mobility Net Additions** |  |  |  |  |  |  |  |  |
| Postpaid Phone Net Additions | **656** | 884 | (25.8) | % | **2868** | 3196 | (10.3) | % |
| Total Phone Net Additions | **643** | 908 | (29.2) | % | **3272** | 3850 | (15.0) | % |
| &nbsp;&nbsp;Postpaid | **1104** | 1285 | (14.1) | % | **4091** | 4482 | (8.7) | % |
| &nbsp;&nbsp;Prepaid | **(9)** | 29 |  | % | **479** | 956 | (49.9) | % |
| &nbsp;&nbsp;Reseller | **150** | (177) |  | % | **462** | (534) |  | % |
| &nbsp;&nbsp;Connected Devices | **5118** | 4134 | 23.8 | % | **20594** | 14328 | 43.7 | % |
| Total Mobility Net Additions | **6363** | 5271 | 20.7 | % | **25626** | 19232 | 33.2 | % |
| Postpaid Churn | **1.01%** | 1.02% | (1) | BP | **0.97%** | 0.94% | 3 BP | 3 BP |
| Postpaid Phone-Only Churn | **0.84%** | 0.85% | (1) | BP | **0.81%** | 0.76% | 5 BP | 5 BP |

---

------

**<u>Business Wireline</u>**

Business Wireline provides advanced ethernet-based fiber services, IP Voice and managed professional serivices as well as traditional data services and related equipment to business customers.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Business Wireline Results** | **Business Wireline Results** | **Business Wireline Results** | **Business Wireline Results** | **Business Wireline Results** | **Business Wireline Results** | **Business Wireline Results** | **Business Wireline Results** | **Business Wireline Results** |
| *Dollars in millions* |  |  |  |  |  |  |  |  |
| *Unaudited* | Fourth Quarter | Fourth Quarter | Percent | Percent | Year Ended | Year Ended | Percent | Percent |
|  | **2022** | 2021 | Change | Change | **2022** | 2021 | Change | Change |
| **Operating Revenues** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service | $**5473** | $5727 | (4.4) | % | $**21891** | $23224 | (5.7) | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equipment | **162** | 174 | (6.9) | % | **647** | 713 | (9.3) | % |
| &nbsp;&nbsp;&nbsp;**Total Operating Revenues** | **5635** | 5901 | (4.5) | % | **22538** | 23937 | (5.8) | % |
| **Operating Expenses** |  |  |  |  |  |  |  |  |
| Operations and support | **3474** | 3708 | (6.3) | % | **13972** | 14718 | (5.1) | % |
| Depreciation and amortization | **1360** | 1317 | 3.3 | % | **5314** | 5192 | 2.3 | % |
| &nbsp;&nbsp;&nbsp;**Total Operating Expenses** | **4834** | 5025 | (3.8) | % | **19286** | 19910 | (3.1) | % |
| **Operating Income** | $**801** | $876 | (8.6) | % | $**3252** | $4027 | (19.2) | % |
| **Operating Income Margin** | **14.2%** | 14.8% | (60) | BP | **14.4%** | 16.8% | (240) | BP |

---

------

**<u>Consumer Wireline</u>**

Consumer Wireline provides internet, including fiber connections that provide multi-gig services to residential customers in select locations. Consumer Wireline also provides legacy telephony voice communication services.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Consumer Wireline Results** | **Consumer Wireline Results** | **Consumer Wireline Results** | **Consumer Wireline Results** | **Consumer Wireline Results** | **Consumer Wireline Results** | **Consumer Wireline Results** | **Consumer Wireline Results** | **Consumer Wireline Results** |
| *Dollars in millions* |  |  |  |  |  |  |  |  |
| *Unaudited* | Fourth Quarter | Fourth Quarter | Percent | Percent | Year Ended | Year Ended | Percent | Percent |
|  | **2022** | 2021 | Change | Change | **2022** | 2021 | Change | Change |
| **Operating Revenues** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadband | $**2492** | $2324 | 7.2 | % | $**9669** | $9085 | 6.4 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Legacy voice and data services | **414** | 470 | (11.9) | % | **1746** | 1977 | (11.7) | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other service and equipment | **323** | 365 | (11.5) | % | **1334** | 1477 | (9.7) | % |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Operating Revenues** | **3229** | 3159 | 2.2 | % | **12749** | 12539 | 1.7 | % |
| **Operating Expenses** |  |  |  |  |  |  |  |  |
| Operations and support | **2035** | 2168 | (6.1) | % | **8253** | 8448 | (2.3) | % |
| Depreciation and amortization | **818** | 789 | 3.7 | % | **3169** | 3095 | 2.4 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Operating Expenses** | **2853** | 2957 | (3.5) | % | **11422** | 11543 | (1.0) | % |
| **Operating Income** | $**376** | $202 | 86.1 | % | $**1327** | $996 | 33.2 | % |
| **Operating Income Margin** | **11.6%** | 6.4% | 520 | BP | **10.4%** | 7.9% | 250 | BP |
| **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** |
| *Subscribers and connections in thousands* |  |  |  |  |  |  |  |  |
| *Unaudited* |  |  |  |  | December 31, | December 31, | Percent | Percent |
|  |  |  |  |  | **2022** | 2021 | Change | Change |
| **Broadband Connections** |  |  |  |  |  |  |  |  |
| Total Broadband and DSL Connections |  |  |  |  | **13991** | 14160 | (1.2) | % |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadband |  |  |  |  | **13753** | 13845 | (0.7) | % |
| &nbsp;&nbsp;&nbsp;&nbsp;Fiber Broadband Connections |  |  |  |  | **7215** | 5992 | 20.4 | % |
| **Voice Connections** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Consumer Switched Access Lines |  |  |  |  | **2028** | 2423 | (16.3) | % |
| &nbsp;&nbsp;&nbsp;&nbsp;U-verse Consumer VoIP Connections |  |  |  |  | **2311** | 2736 | (15.5) | % |
| Total Retail Consumer Voice Connections |  |  |  |  | **4339** | 5159 | (15.9) | % |
|  | Fourth Quarter | Fourth Quarter | Percent | Percent | Year Ended | Year Ended | Percent | Percent |
|  | **2022** | 2021 | Change | Change | **2022** | 2021 | Change | Change |
| **Broadband Net Additions** |  |  |  |  |  |  |  |  |
| Total Broadband and DSL Net Additions | **(64)** | (20) |  | % | **(169)** | 60 |  | % |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadband Net Additions | **(43)** | (1) |  | % | **(92)** | 152 |  | % |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiber Broadband Net Additions | **280** | 271 | 3.3 | % | **1223** | 1041 | 17.5 | % |

---

------

**<u>Business Solutions</u>**

As a supplemental presentation to our Communications segment operating results, we are providing a view of our AT&T Business Solutions results which includes both wireless and fixed operations. This combined view presents a complete profile of the entire business customer relationship and underscores the importance of mobile solutions to serving our business customers.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Business Solutions Results** | **Business Solutions Results** | **Business Solutions Results** | **Business Solutions Results** | **Business Solutions Results** | **Business Solutions Results** | **Business Solutions Results** | **Business Solutions Results** | **Business Solutions Results** |
| *Dollars in millions* |  |  |  |  |  |  |  |  |
| *Unaudited* | Fourth Quarter | Fourth Quarter | Percent | Percent | Year Ended | Year Ended | Percent | Percent |
|  | **2022** | 2021 | Change | Change | **2022** | 2021 | Change | Change |
| **Operating Revenues** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wireless service | $**2258** | $2108 | 7.1 | % | $**8789** | $8161 | 7.7 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wireline service | **5473** | 5727 | (4.4) | % | **21891** | 23224 | (5.7) | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wireless equipment | **937** | 1030 | (9.0) | % | **3569** | 3414 | 4.5 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wireline equipment | **162** | 174 | (6.9) | % | **647** | 713 | (9.3) | % |
| &nbsp;&nbsp;&nbsp;**Total Operating Revenues** | **8830** | 9039 | (2.3) | % | **34896** | 35512 | (1.7) | % |
| **Operating Expenses** |  |  |  |  |  |  |  |  |
| Operations and support | **5656** | 6035 | (6.3) | % | **22479** | 22778 | (1.3) | % |
| Depreciation and amortization | **1724** | 1667 | 3.4 | % | **6749** | 6570 | 2.7 | % |
| &nbsp;&nbsp;&nbsp;**Total Operating Expenses** | **7380** | 7702 | (4.2) | % | **29228** | 29348 | (0.4) | % |
| **Operating Income** | $**1450** | $1337 | 8.5 | % | $**5668** | $6164 | (8.0) | % |
| **Operating Income Margin** | **16.4%** | 14.8% | 160 | BP | **16.2%** | 17.4% | (120) | BP |

---

------

**<u>LATIN AMERICA SEGMENT</u>**

The segment provides wireless services and equipment to customers in Mexico.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** | **Segment Results** |
| *Dollars in millions* |  |  |  |  |  |  |  |  |
| *Unaudited* | Fourth Quarter | Fourth Quarter | Percent | Percent | Year Ended | Year Ended | Percent | Percent |
|  | **2022** | 2021 | Change | Change | **2022** | 2021 | Change | Change |
| **Operating Revenues** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Wireless service | $**579** | $485 | 19.4 | % | $**2162** | $1834 | 17.9 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;Wireless equipment | **282** | 219 | 28.8 | % | **982** | 913 | 7.6 | % |
| &nbsp;&nbsp;&nbsp;**Total Operating Revenues** | **861** | 704 | 22.3 | % | **3144** | 2747 | 14.5 | % |
| **Operating Expenses** |  |  |  |  |  |  |  |  |
| Operations and support | **776** | 668 | 16.2 | % | **2812** | 2652 | 6.0 | % |
| Depreciation and amortization | **164** | 153 | 7.2 | % | **658** | 605 | 8.8 | % |
| &nbsp;&nbsp;&nbsp;**Total Operating Expenses** | **940** | 821 | 14.5 | % | **3470** | 3257 | 6.5 | % |
| **Operating Income (Loss)** | $**(79)** | $(117) | 32.5 | % | $**(326)** | $(510) | 36.1 | % |
| **Operating Income Margin** | **(9.2) %** | (16.6)% | 740 | BP | **(10.4)%** | (18.6)% | 820 | BP |
| **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** | **Supplementary Operating Data** |
| *Subscribers and connections in thousands* |  |  |  |  |  |  |  |  |
| *Unaudited* |  |  |  |  | December 31, | December 31, | Percent | Percent |
|  |  |  |  |  | **2022** | 2021 | Change | Change |
| **Mexico Wireless Subscribers** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Postpaid |  |  |  |  | **4925** | 4807 | 2.5 | % |
| &nbsp;&nbsp;&nbsp;Prepaid |  |  |  |  | **16204** | 15057 | 7.6 | % |
| &nbsp;&nbsp;&nbsp;Reseller |  |  |  |  | **474** | 498 | (4.8) | % |
| Total Mexico Wireless Subscribers |  |  |  |  | **21603** | 20362 | 6.1 | % |
|  | Fourth Quarter | Fourth Quarter | Percent | Percent | Year Ended | Year Ended | Percent | Percent |
|  | **2022** | 2021 | Change | Change | **2022** | 2021 | Change | Change |
| **Mexico Wireless Net Additions** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Postpaid | **71** | 26 |  | % | **118** | 111 | 6.3 | % |
| &nbsp;&nbsp;&nbsp;Prepaid | **515** | 858 | (40.0) | % | **1147** | 1299 | (11.7) | % |
| &nbsp;&nbsp;&nbsp;Reseller | **19** | 5 |  | % | **(24)** | 9 |  | % |
| Total Mexico Wireless Net Additions | **605** | 889 | (31.9) | % | **1241** | 1419 | (12.5) | % |

---

------

**<u>SUPPLEMENTAL SEGMENT RECONCILIATION</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| *Dollars in millions* |  |  |  |  |  |
| *Unaudited* |  |  |  |  |  |
| ***December 31, 2022*** |  |  |  |  |  |
|  | Revenues | Operations<br>and Support<br>Expenses | EBITDA | Depreciation<br>and<br>Amortization | Operating<br>Income (Loss) |
| **Communications** |  |  |  |  |  |
| &nbsp;&nbsp;Mobility | $**21501** | $**13377** | $**8124** | $**2080** | $**6044** |
| &nbsp;&nbsp;Business Wireline | **5635** | **3474** | **2161** | **1360** | **801** |
| &nbsp;&nbsp;Consumer Wireline | **3229** | **2035** | **1194** | **818** | **376** |
| Total Communications | **30365** | **18886** | **11479** | **4258** | **7221** |
| **Latin America - Mexico** | **861** | **776** | **85** | **164** | **(79)** |
| Segment Total | **31226** | **19662** | **11564** | **4422** | **7142** |
| Corporate and Other |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTV-related retained costs | **—** | **205** | **(205)** | **141** | **(346)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parent administration support | **(8)** | **326** | **(334)** | **4** | **(338)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securitization fees | **17** | **156** | **(139)** | **—** | **(139)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Value portfolio | **108** | **33** | **75** | **12** | **63** |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Corporate | **117** | **720** | **(603)** | **157** | **(760)** |
| &nbsp;&nbsp;Reclassification of prior service credits | **—** | **730** | **(730)** | **—** | **(730)** |
| Merger & Significant Items | **—** | **26728** | **(26728)** | **16** | **(26744)** |
| Total Corporate and Other | **117** | **28178** | **(28061)** | **173** | **(28234)** |
| AT&T Inc. | $**31343** | $**47840** | $**(16497)** | $**4595** | $**(21092)** |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| *Dollars in millions* |  |  |  |  |  |
| *Unaudited* |  |  |  |  |  |
| *December 31, 2021* |  |  |  |  |  |
|  | Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) |
| **Communications** |  |  |  |  |  |
| &nbsp;&nbsp;Mobility | $21146 | $13764 | $7382 | $2050 | $5332 |
| &nbsp;&nbsp;Business Wireline | 5901 | 3708 | 2193 | 1317 | 876 |
| &nbsp;&nbsp;Consumer Wireline | 3159 | 2168 | 991 | 789 | 202 |
| Total Communications | 30206 | 19640 | 10566 | 4156 | 6410 |
| **Latin America - Mexico** | 704 | 668 | 36 | 153 | (117) |
| Segment Total | 30910 | 20308 | 10602 | 4309 | 6293 |
| Corporate and Other |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTV-related retained costs | 29 | 174 | (145) | 144 | (289) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parent administration support | (6) | 376 | (382) | 9 | (391) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securitization fees | 17 | 36 | (19) |  | (19) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Value portfolio | 145 | 47 | 98 | 10 | 88 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Corporate | 185 | 633 | (448) | 163 | (611) |
| &nbsp;&nbsp;Held-for-sale and other reclassifications |  | 4 | (4) |  | (4) |
| &nbsp;&nbsp;Reclassification of prior service credits |  | 669 | (669) |  | (669) |
| Merger & Significant Items |  | 87 | (87) | 28 | (115) |
| Total Corporate and Other | 185 | 1393 | (1208) | 191 | (1399) |
| AT&T Inc. | $31095 | $21701 | $9394 | $4500 | $4894 |

---

------

**<u>SUPPLEMENTAL SEGMENT RECONCILIATION</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
| *Dollars in millions* |  |  |  |  |  |
| *Unaudited* |  |  |  |  |  |
| ***December 31, 2022*** |  |  |  |  |  |
|  | Revenues | Operations<br>and Support<br>Expenses | EBITDA | Depreciation<br>and<br>Amortization | Operating<br>Income (Loss) |
| **Communications** |  |  |  |  |  |
| &nbsp;&nbsp;Mobility | $**81780** | $**49054** | $**32726** | $**8198** | $**24528** |
| &nbsp;&nbsp;Business Wireline | **22538** | **13972** | **8566** | **5314** | **3252** |
| &nbsp;&nbsp;Consumer Wireline | **12749** | **8253** | **4496** | **3169** | **1327** |
| Total Communications | **117067** | **71279** | **45788** | **16681** | **29107** |
| **Latin America - Mexico** | **3144** | **2812** | **332** | **658** | **(326)** |
| Segment Total | **120211** | **74091** | **46120** | **17339** | **28781** |
| Corporate and Other |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTV-related retained costs | **8** | **737** | **(729)** | **549** | **(1278)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parent administration support | **(32)** | **1199** | **(1231)** | **16** | **(1247)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securitization fees | **65** | **419** | **(354)** | **—** | **(354)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Value portfolio | **489** | **139** | **350** | **41** | **309** |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Corporate | **530** | **2494** | **(1964)** | **606** | **(2570)** |
| &nbsp;&nbsp;Reclassification of prior service credits | **—** | **2691** | **(2691)** | **—** | **(2691)** |
| &nbsp;&nbsp;Merger & Significant Items | **—** | **28031** | **(28031)** | **76** | **(28107)** |
| Total Corporate and Other | **530** | **33216** | **(32686)** | **682** | **(33368)** |
| AT&T Inc. | $**120741** | $**107307** | $**13434** | $**18021** | $**(4587)** |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
| *Dollars in millions* |  |  |  |  |  |
| *Unaudited* |  |  |  |  |  |
| *December 31, 2021* |  |  |  |  |  |
|  | Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) |
| **Communications** |  |  |  |  |  |
| &nbsp;&nbsp;Mobility | $78254 | $46762 | $31492 | $8122 | $23370 |
| &nbsp;&nbsp;Business Wireline | 23937 | 14718 | 9219 | 5192 | 4027 |
| &nbsp;&nbsp;Consumer Wireline | 12539 | 8448 | 4091 | 3095 | 996 |
| Total Communications | 114730 | 69928 | 44802 | 16409 | 28393 |
| **Latin America - Mexico** | 2747 | 2652 | 95 | 605 | (510) |
| Segment Total | 117477 | 72580 | 44897 | 17014 | 27883 |
| Corporate and Other |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTV-related retained costs | 49 | 243 | (194) | 236 | (430) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parent administration support | (18) | 1523 | (1541) | 36 | (1577) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securitization fees | 61 | 89 | (28) |  | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Value portfolio | 639 | 208 | 431 | 40 | 391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Corporate | 731 | 2063 | (1332) | 312 | (1644) |
| &nbsp;&nbsp;Video | 15513 | 12666 | 2847 | 356 | 2491 |
| &nbsp;&nbsp;Held-for-sale and other reclassifications | 453 | 310 | 143 |  | 143 |
| &nbsp;&nbsp;Reclassification of prior service credits |  | 2680 | (2680) |  | (2680) |
| &nbsp;&nbsp;Merger & Significant Items |  | 126 | (126) | 170 | (296) |
| Eliminations and consolidations | (136) | (136) |  |  |  |
| Total Corporate and Other | 16561 | 17709 | (1148) | 838 | (1986) |
| AT&T Inc. | $134038 | $90289 | $43749 | $17852 | $25897 |

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<br>