Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Oct. 31, 2014 |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Period End Date | 30-Sep-14 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Central Index Key | '0000732717 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Registrant Name | 'AT&T Inc. | ' |
Entity Common Stock, Shares Outstanding | ' | 5,187 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Consolidated Statements Of Income (Unaudited) | ' | ' | ' | ' |
Operating Revenues | $32,957 | $32,158 | $98,008 | $95,589 |
Operating Expenses | ' | ' | ' | ' |
Cost of services and sales (exclusive of depreciation and amortization shown separately below) | 14,541 | 13,403 | 42,074 | 39,227 |
Selling, general and administrative | 8,475 | 7,952 | 24,932 | 24,406 |
Depreciation and amortization | 4,539 | 4,615 | 13,706 | 13,715 |
Total operating expenses | 27,555 | 25,970 | 80,712 | 77,348 |
Operating Income | 5,402 | 6,188 | 17,296 | 18,241 |
Other Income (Expense) | ' | ' | ' | ' |
Interest expense | -1,016 | -829 | -2,757 | -2,481 |
Equity in net income (loss) of affiliates | -2 | 91 | 188 | 494 |
Other income (expense) - net | 42 | 50 | 1,456 | 370 |
Total other income (expense) | -976 | -688 | -1,113 | -1,617 |
Income Before Income Taxes | 4,426 | 5,500 | 16,183 | 16,624 |
Income tax expense | 1,367 | 1,595 | 5,769 | 5,066 |
Net Income | 3,059 | 3,905 | 10,414 | 11,558 |
Less: Net Income Attributable to Noncontrolling Interest | -57 | -91 | -213 | -222 |
Net Income Attributable to AT&T | $3,002 | $3,814 | $10,201 | $11,336 |
Basic Earnings Per Share Attributable to AT&T | $0.58 | $0.72 | $1.96 | $2.10 |
Diluted Earnings Per Share Attributable to AT&T | $0.58 | $0.72 | $1.95 | $2.09 |
Weighted Average Number of Common Shares Outstanding - Basic (in millions) | 5,198 | 5,315 | 5,208 | 5,402 |
Weighted Average Number of Common Shares Outstanding - with Dilution (in millions) | 5,214 | 5,331 | 5,224 | 5,419 |
Dividends Declared Per Common Share | $0.46 | $0.45 | $1.38 | $1.35 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Consolidated Statements of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $3,059 | $3,905 | $10,414 | $11,558 |
Foreign Currency: | ' | ' | ' | ' |
Translation adjustments (includes $(1), $(1), $0 and $(2) attributable to noncontrolling interest), net of taxes of $(22), $(21), $(17) and $(86) | -35 | -37 | -29 | -155 |
Reclassification adjustment included in net income, net of taxes of $0, $0, $224 and $19 | 0 | 0 | 416 | 34 |
Available-for-sale securities: | ' | ' | ' | ' |
Net unrealized gains (losses), net of taxes of $(15), $38, $19 and $84 | -29 | 69 | 30 | 155 |
Reclassification adjustment realized in net income, net of taxes of $(1), $(2), $(9) and $(7) | -1 | -3 | -15 | -13 |
Cash flow hedges: | ' | ' | ' | ' |
Net unrealized gains, net of taxes of $201, $171, $148 and $286 | 370 | 316 | 272 | 526 |
Reclassification adjustment included in net income, net of taxes of $3, $4, $14 and $12 | 8 | 7 | 29 | 22 |
Defined benefit postretirement plans: | ' | ' | ' | ' |
Reclassification adjustment included in net income, net of taxes $0, $0, $33 and $5 | 0 | 0 | 61 | 8 |
Amortization of net prior service credit included in net income, net of taxes of $(146), $(109), $(435) and $(327) | -239 | -178 | -718 | -533 |
Other comprehensive income | 74 | 174 | 46 | 44 |
Total comprehensive income | 3,133 | 4,079 | 10,460 | 11,602 |
Less: Total comprehensive income attributable to noncontrolling interest | -56 | -90 | -213 | -220 |
Total Comprehensive Income Attributable to AT&T | $3,077 | $3,989 | $10,247 | $11,382 |
Recovered_Sheet1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Consolidated Statements of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Foreign currency translation adjustments, attributable to noncontrolling interest, net of taxes | ($1) | ($1) | $0 | ($2) |
Foreign currency translation adjustments, tax effect | -22 | -21 | -17 | -86 |
Foreign currency translation adjustment reclassification - tax effect | 0 | 0 | 224 | 19 |
Unrealized gains (losses) on available-for-sale securities - tax | -15 | 38 | 19 | 84 |
Reclassification adjustment included in net income on available-for-sale securities - tax effect | -1 | -2 | -9 | -7 |
Unrealized gains (losses) on cash flow hedges - tax | 201 | 171 | 148 | 286 |
Reclassification adjustment included in net income on cash flow hedges - tax effect | 3 | 4 | 14 | 12 |
Reclassification adjustment in net income on actuarial loss from equity method investees - tax effect | 0 | 0 | 33 | 5 |
Amortization of net prior service credit included in net income, tax effect | ($146) | ($109) | ($435) | ($327) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $2,458 | $3,339 |
Accounts receivable - net of allowances for doubtful accounts of $482 and $483 | 13,445 | 12,918 |
Prepaid expenses | 869 | 960 |
Deferred income taxes | 1,030 | 1,199 |
Other current assets | 8,033 | 4,780 |
Total current assets | 25,835 | 23,196 |
Property, plant and equipment | 286,987 | 274,798 |
Less: accumulated depreciation and amortization | -171,853 | -163,830 |
Property, Plant and Equipment - Net | 115,134 | 110,968 |
Goodwill | 70,131 | 69,273 |
Licenses | 60,784 | 56,433 |
Other Intangible Assets - Net | 6,252 | 5,779 |
Investments in Equity Affiliates | 166 | 3,860 |
Other Assets | 9,637 | 8,278 |
Total Assets | 287,939 | 277,787 |
Current Liabilities | ' | ' |
Debt maturing within one year | 5,109 | 5,498 |
Accounts payable and accrued liabilities | 24,119 | 21,107 |
Advanced billing and customer deposits | 4,038 | 4,212 |
Accrued taxes | 4,328 | 1,774 |
Dividends payable | 2,385 | 2,404 |
Total current liabilities | 39,979 | 34,995 |
Long-Term Debt | 70,516 | 69,290 |
Deferred Credits and Other Noncurrent Liabilities | ' | ' |
Deferred income taxes | 37,393 | 36,308 |
Postemployment benefit obligation | 29,918 | 29,946 |
Other noncurrent liabilities | 17,014 | 15,766 |
Total deferred credits and other noncurrent liabilities | 84,325 | 82,020 |
Stockholders' Equity | ' | ' |
Common stock ($1 par value, 14,000,000,000 authorized at September 30, 2014 and December 31, 2013: issued 6,495,231,088 at September 30, 2014 and December 31, 2013) | 6,495 | 6,495 |
Additional paid-in capital | 91,064 | 91,091 |
Retained earnings | 34,165 | 31,141 |
Treasury stock (1,310,226,392 at September 30, 2014 and 1,268,914,913 at December 31, 2013, at cost) | -47,037 | -45,619 |
Accumulated other comprehensive income | 7,926 | 7,880 |
Noncontrolling interest | 506 | 494 |
Total stockholders' equity | 93,119 | 91,482 |
Total Liabilities and Stockholders' Equity | $287,939 | $277,787 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets (Unaudited) | ' | ' |
Allowances for doubtful accounts | $482 | $483 |
Common stock, par value | $1 | $1 |
Common stock, authorized | 14,000,000,000 | 14,000,000,000 |
Common stock, issued | 6,495,231,088 | 6,495,231,088 |
Treasury stock, held | 1,310,226,392 | 1,268,914,913 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Operating Activities | ' | ' |
Net income | $10,414 | $11,558 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 13,706 | 13,715 |
Undistributed earnings from investments in equity affiliates | -45 | -232 |
Provision for uncollectible accounts | 692 | 653 |
Deferred income tax expense | 1,304 | 2,505 |
Net gain from sale of investments, net of impairments | -1,374 | -272 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -1,269 | -440 |
Other current assets | -813 | 520 |
Accounts payable and accrued liabilities | 4,763 | -420 |
Retirement benefit funding | -420 | -175 |
Other - net | -1,365 | -533 |
Total adjustments | 15,179 | 15,321 |
Net Cash Provided by Operating Activities | 25,593 | 26,879 |
Investing Activities | ' | ' |
Capital expenditures | -16,829 | -15,565 |
Interest during construction | -178 | -213 |
Acquisitions, net of cash acquired | -2,053 | -4,025 |
Dispositions | 6,074 | 846 |
Purchases of securities | -1,996 | 0 |
Return of advances to and investments in equity affiliates | 3 | 301 |
Other | -1 | -4 |
Net Cash Used in Investing Activities | -14,980 | -18,660 |
Financing Activities | ' | ' |
Net change in short-term borrowings with original maturities of three months or less | -16 | 1,851 |
Issuance of other short-term borrowings | 0 | 1,476 |
Repayment of other short-term borrowings | 0 | -1,476 |
Issuance of long-term debt | 8,564 | 6,416 |
Repayment of long-term debt | -10,376 | -2,131 |
Purchase of treasury stock | -1,617 | -11,134 |
Issuance of treasury stock | 34 | 108 |
Dividends paid | -7,170 | -7,325 |
Other | -913 | 499 |
Net Cash Used in Financing Activities | -11,494 | -11,716 |
Net decrease in cash and cash equivalents | -881 | -3,497 |
Cash and cash equivalents beginning of year | 3,339 | 4,868 |
Cash and Cash Equivalents End of Period | 2,458 | 1,371 |
Cash paid during the nine months ended September 30 for: | ' | ' |
Interest | 3,351 | 2,980 |
Income taxes, net of refunds | $1,337 | $1,573 |
Consolidated_Statement_Of_Chan
Consolidated Statement Of Changes In Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income Attributable to AT&T, net of tax [Member] | Noncontrolling Interest [Member] |
In Millions | |||||||
Balance at beginning of year at Dec. 31, 2013 | $91,482 | $6,495 | $91,091 | $31,141 | ($45,619) | $7,880 | $494 |
Balance at beginning of year (in shares) at Dec. 31, 2013 | ' | 6,495 | ' | ' | -1,269 | ' | ' |
Issuance of stock | ' | 0 | ' | ' | ' | ' | ' |
Issuance of stock (in shares) | ' | 0 | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | -1,617 | ' | ' |
Repurchase of common stock (in shares) | ' | ' | ' | ' | -48 | ' | ' |
Issuance of treasury stock | ' | ' | 3 | ' | 199 | ' | ' |
Issuance of treasury stock, (in shares) | ' | ' | ' | ' | 7 | ' | ' |
Share-based payments | ' | ' | 3 | ' | ' | ' | ' |
Change related to acquisition of interests held by noncontrolling owners | ' | ' | -33 | ' | ' | ' | ' |
Net income attributable to AT&T ($1.95 per diluted share) | 10,201 | ' | ' | 10,201 | ' | ' | ' |
Dividends to stockholders ($1.38 per share) | ' | ' | ' | -7,177 | ' | ' | ' |
Other comprehensive income attributable to AT&T | 46 | ' | ' | ' | ' | 46 | ' |
Net income attributable to noncontrolling interest | 213 | ' | ' | ' | ' | ' | 213 |
Distributions | ' | ' | ' | ' | ' | ' | -200 |
Acquisitions of noncontrolling interests | ' | ' | ' | ' | ' | ' | 69 |
Acquisition of interests held by noncontrolling owners | ' | ' | ' | ' | ' | ' | -70 |
Translation adjustments attributable to noncontrolling interest, net of taxes | 0 | ' | ' | ' | ' | ' | ' |
Balance at end of period at Sep. 30, 2014 | $93,119 | $6,495 | $91,064 | $34,165 | ($47,037) | $7,926 | $506 |
Balance at end of period (in shares) at Sep. 30, 2014 | ' | 6,495 | ' | ' | -1,310 | ' | ' |
Consolidated_Statement_Of_Chan1
Consolidated Statement Of Changes In Stockholders' Equity (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) | ' | ' | ' | ' |
Net income attributable to AT&T, per diluted share | $0.58 | $0.72 | $1.95 | $2.09 |
Dividends to stockholders, per share | $0.46 | $0.45 | $1.38 | $1.35 |
Preparation_Of_Interim_Financi
Preparation Of Interim Financial Statements | 9 Months Ended |
Sep. 30, 2014 | |
Preparation Of Interim Financial Statements Disclosure [Abstract] | ' |
Preparation Of Interim Financial Statements | ' |
NOTE 1. PREPARATION OF INTERIM FINANCIAL STATEMENTS | |
Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” We believe that these consolidated financial statements include all adjustments, consisting only of normal recurring accruals, that are necessary to present fairly the results for the presented interim periods. The results for the interim periods are not necessarily indicative of those for the full year. You should read this document in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2013. | |
The consolidated financial statements include the accounts of the Company and our majority-owned subsidiaries and affiliates. Our subsidiaries and affiliates operate in the communications services industry both domestically and internationally, providing wireless communications services, traditional wireline voice services, data/broadband and Internet services, video services, telecommunications equipment, managed networking and wholesale services. On March 13, 2014, we closed our acquisition of Leap Wireless International, Inc. (Leap) (see Note 7), and we incorporated Leap into our wireless operations following the date of acquisition. | |
All significant intercompany transactions are eliminated in the consolidation process. Investments in less than majority-owned subsidiaries and partnerships where we have significant influence are accounted for under the equity method. Earnings from certain foreign equity investments accounted for using the equity method are included for periods ended within up to one month of our period end. We also recorded our proportionate share of our equity method investees' other comprehensive income (OCI) items, including actuarial gains and losses on pension and other postretirement benefit obligations. On June 30, 2014, we completed the sale of our investment in América Móvil, S.A.B. de C.V. (América Móvil) to an unrelated third party (see Note 7). | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes, including estimates of probable losses and expenses. Actual results could differ from those estimates. Certain amounts have been reclassified to conform to the current period's presentation. | |
During the fourth-quarter we conduct our annual impairment testing of intangible assets, remeasure the plan assets and obligations of our benefit plans and, due to our continued access line losses and technology changes, we are assessing certain network assets for under-utilization and/or abandonment. | |
Stock Repurchase Program During the first nine months of 2014, we repurchased approximately 48 million shares for $1,617 under a repurchase authorization that was approved by our Board of Directors in March 2013. In March 2014, our Board of Directors approved a fourth authorization to repurchase 300 million shares of our common stock. As of September 30, 2014, we had approximately 415 million shares remaining from these authorizations. The repurchase authorizations have no expiration date, and we expect to make future repurchases opportunistically. | |
Software Costs During 2014, we completed studies evaluating the periods that we were utilizing our software assets. As of April 1 and July 1, 2014, we extended our estimated useful lives for capitalized non-network and network software, respectively, to five years to better reflect the estimated periods during which these assets will remain in service and to align with the estimated useful lives used in the industry. This change in accounting estimate increased net income $198, or $0.04 per diluted share, in the third quarter and $330, or $0.06 per diluted share, for the first nine months of 2014. | |
New Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09), which replaces existing revenue recognition rules with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. Upon initial evaluation, we believe the key changes in the standard that impact our revenue recognition relate to the allocation of contract revenues between service and equipment, and the timing in which those revenues are recognized. ASU 2014-09 also specifies that incremental costs of obtaining or fulfilling our contracts with customers should be deferred. ASU 2014-09 becomes effective for annual reporting periods beginning after December 15, 2016. | |
The FASB will allow two adoption methods under ASU 2014-09. Under one method, a company will apply the rules to contracts in all reporting periods presented, subject to certain allowable exceptions. Under the other method, a company will apply the rules to all contracts existing as of January 1, 2017, recognizing in beginning retained earnings an adjustment for the cumulative effect of the change and provide additional disclosures comparing results to previous rules. We continue to evaluate the impact of the new standard and available adoption methods. | |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Earnings Per Share | ' | |||||||||||
Earnings Per Share | ' | |||||||||||
NOTE 2. EARNINGS PER SHARE | ||||||||||||
A reconciliation of the numerators and denominators of basic earnings per share and diluted earnings for the three and nine months ended September 30, 2014 and 2013, is shown in the table below: | ||||||||||||
Three months ended | Nine months ended | |||||||||||
September 30, | September 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Numerators | ||||||||||||
Numerator for basic earnings per share: | ||||||||||||
Net Income | $ | 3,059 | $ | 3,905 | $ | 10,414 | $ | 11,558 | ||||
Less: Net income attributable to noncontrolling interest | -57 | -91 | -213 | -222 | ||||||||
Net Income attributable to AT&T | 3,002 | 3,814 | 10,201 | 11,336 | ||||||||
Dilutive potential common shares: | ||||||||||||
Share-based payment | 3 | 3 | 10 | 9 | ||||||||
Numerator for diluted earnings per share | $ | 3,005 | $ | 3,817 | $ | 10,211 | $ | 11,345 | ||||
Denominators (000,000) | ||||||||||||
Denominator for basic earnings per share: | ||||||||||||
Weighted average number of common shares outstanding | 5,198 | 5,315 | 5,208 | 5,402 | ||||||||
Dilutive potential common shares: | ||||||||||||
Share-based payment (in shares) | 16 | 16 | 16 | 17 | ||||||||
Denominator for diluted earnings per share | 5,214 | 5,331 | 5,224 | 5,419 | ||||||||
Basic earnings per share attributable to AT&T | $ | 0.58 | $ | 0.72 | $ | 1.96 | $ | 2.1 | ||||
Diluted earnings per share attributable to AT&T | $ | 0.58 | $ | 0.72 | $ | 1.95 | $ | 2.09 | ||||
At September 30, 2014 and 2013, we had issued and outstanding options to purchase approximately 11 million and 12 million shares of AT&T common stock. For the quarter ended September 30, 2014 and 2013, the exercise prices of 3 million shares were above the market price of AT&T stock for the respective periods. Accordingly, we did not include these amounts in determining the dilutive potential common shares. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||||||
NOTE 3. OTHER COMPREHENSIVE INCOME | ||||||||||||||||
Changes in the balances of each component included in accumulated other comprehensive income (accumulated OCI) for the nine months ended September 30, 2014 and 2013, are presented below. For the period ended September 30, 2014, the amounts reclassified from accumulated OCI include the adjustments resulting from our change in accounting for América Móvil (see Note 7). All amounts are net of tax and exclude noncontrolling interest. | ||||||||||||||||
At September 30, 2014 and for the period ended: | ||||||||||||||||
Foreign Currency Translation Adjustment | Net Unrealized Gains (Losses) on Available-for-Sale Securities | Net Unrealized Gains (Losses) on Cash Flow Hedges | Defined Benefit Postretirement Plans | Accumulated Other Comprehensive Income | ||||||||||||
Balance as of December 31, 2013 | $ | -367 | $ | 450 | $ | 445 | $ | 7,352 | $ | 7,880 | ||||||
Other comprehensive income (loss) before reclassifications | -29 | 30 | 272 | - | 273 | |||||||||||
Amounts reclassified from accumulated OCI | 416 | 1 | -15 | 2 | 29 | 3 | -657 | 4 | -227 | |||||||
Net other comprehensive income (loss) | 387 | 15 | 301 | -657 | 46 | |||||||||||
Balance as of September 30, 2014 | $ | 20 | $ | 465 | $ | 746 | $ | 6,695 | $ | 7,926 | ||||||
At September 30, 2013 and for the period ended: | ||||||||||||||||
Foreign Currency Translation Adjustment | Net Unrealized Gains (Losses) on Available-for-Sale Securities | Net Unrealized Gains (Losses) on Cash Flow Hedges | Defined Benefit Postretirement Plans | Accumulated Other Comprehensive Income | ||||||||||||
Balance as of December 31, 2012 | $ | -284 | $ | 272 | $ | -110 | $ | 5,358 | $ | 5,236 | ||||||
Other comprehensive income (loss) before reclassifications | -153 | 155 | 526 | - | 528 | |||||||||||
Amounts reclassified from accumulated OCI | 34 | 1 | -13 | 2 | 22 | 3 | -525 | 4 | -482 | |||||||
Net other comprehensive income (loss) | -119 | 142 | 548 | -525 | 46 | |||||||||||
Balance as of September 30, 2013 | $ | -403 | $ | 414 | $ | 438 | $ | 4,833 | $ | 5,282 | ||||||
1 | Pre-tax translation loss reclassifications are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
2 | Pre-tax gains are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
3 | (Gains) losses are included in interest expense in the consolidated statements of income. See Note 6 for additional information. | |||||||||||||||
4 | The amortization of prior service credits associated with postretirement benefits, net of amounts capitalized as part of construction | |||||||||||||||
labor, are included in Cost of services and sales and Selling, general and administrative in the consolidated statements of income | ||||||||||||||||
(see Note 5). Actuarial loss reclassifications related to our equity method investees are included in Other income (expense) - net | ||||||||||||||||
in the consolidated statements of income. |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Segment Information | ' | |||||||||||
Segment Information | ' | |||||||||||
NOTE 4. SEGMENT INFORMATION | ||||||||||||
Our segments are strategic business units that offer different products and services over various technology platforms and are managed accordingly. We analyze our operating segments based on segment income before income taxes. We make our capital allocation decisions based on our strategic direction of the business, needs of the network (wireless or wireline) providing services and demands to provide emerging services to our customers. Actuarial gains and losses from pension and other postretirement benefits, interest expense and other income (expense) – net, are managed only on a total company basis and are, accordingly, reflected only in consolidated results. Therefore, these items are not included in each segment's reportable results. The customers and long-lived assets of our reportable segments are predominantly in the United States. We have two reportable segments: (1) Wireless and (2) Wireline. | ||||||||||||
The Wireless segment uses our nationwide network to provide consumer and business customers with wireless data and voice communications services. This segment includes our portion of the results from our SoftcardTM mobile wallet joint venture which is accounted for as an equity investment. | ||||||||||||
The Wireline segment uses our regional, national and global network to provide consumer and business customers with data and voice communications services, AT&T U-verse® high speed Internet, video and VoIP services and managed networking to business customers. | ||||||||||||
The Corporate and Other column includes unallocated corporate expenses, which includes costs to support corporate-driven activities and operations, impacts of corporate-wide decisions for which the individual operating segments are not being evaluated, including interest costs and expected return on plan assets for our pension and postretirement benefit plans as well as our actuarial gains and losses on our pension and postretirement plan valuations. Results from equity method investments in América Móvil (prior to the June 2014 disposal of our investment), YP Holdings LLC, and Otter Media (our joint venture with The Chernin Group), are also excluded from our segment results as those results are not considered in our assessment of segment performance. We have revised our prior-period presentation to conform to our current reporting. | ||||||||||||
In the following tables, we show how our segment results are reconciled to our consolidated results reported. | ||||||||||||
For the three months ended September 30, 2014 | Consolidated Results | |||||||||||
Wireless | Wireline | Corporate and Other | ||||||||||
Service | $ | 15,423 | $ | 14,368 | $ | - | $ | 29,791 | ||||
Equipment | 2,914 | 247 | 5 | 3,166 | ||||||||
Total segment operating revenues | 18,337 | 14,615 | 5 | 32,957 | ||||||||
Operations and support expenses | 11,855 | 10,761 | 400 | 23,016 | ||||||||
Depreciation and amortization expenses | 1,965 | 2,571 | 3 | 4,539 | ||||||||
Total segment operating expenses | 13,820 | 13,332 | 403 | 27,555 | ||||||||
Segment operating income (loss) | 4,517 | 1,283 | -398 | 5,402 | ||||||||
Interest expense | - | - | 1,016 | 1,016 | ||||||||
Equity in net income (loss) of affiliates | -26 | 1 | 23 | -2 | ||||||||
Other income (expense) – net | - | - | 42 | 42 | ||||||||
Segment income (loss) before income taxes | $ | 4,491 | $ | 1,284 | $ | -1,349 | $ | 4,426 | ||||
For the nine months ended September 30, 2014 | Consolidated Results | |||||||||||
Wireless | Wireline | Corporate and Other | ||||||||||
Service | $ | 45,958 | $ | 43,165 | $ | - | $ | 89,123 | ||||
Equipment | 8,175 | 688 | 22 | 8,885 | ||||||||
Total segment operating revenues | 54,133 | 43,853 | 22 | 98,008 | ||||||||
Operations and support expenses | 34,305 | 31,918 | 783 | 67,006 | ||||||||
Depreciation and amortization expenses | 5,931 | 7,769 | 6 | 13,706 | ||||||||
Total segment operating expenses | 40,236 | 39,687 | 789 | 80,712 | ||||||||
Segment operating income (loss) | 13,897 | 4,166 | -767 | 17,296 | ||||||||
Interest expense | - | - | 2,757 | 2,757 | ||||||||
Equity in net income (loss) of affiliates | -75 | 2 | 261 | 188 | ||||||||
Other income (expense) – net | - | - | 1,456 | 1,456 | ||||||||
Segment income (loss) before income taxes | $ | 13,822 | $ | 4,168 | $ | -1,807 | $ | 16,183 | ||||
For the three months ended September 30, 2013 | Consolidated Results | |||||||||||
Wireless | Wireline | Corporate and Other | ||||||||||
Service | $ | 15,460 | $ | 14,403 | $ | - | $ | 29,863 | ||||
Equipment | 2,020 | 267 | 8 | 2,295 | ||||||||
Total segment operating revenues | 17,480 | 14,670 | 8 | 32,158 | ||||||||
Operations and support expenses | 10,982 | 10,385 | -12 | 21,355 | ||||||||
Depreciation and amortization expenses | 1,875 | 2,736 | 4 | 4,615 | ||||||||
Total segment operating expenses | 12,857 | 13,121 | -8 | 25,970 | ||||||||
Segment operating income | 4,623 | 1,549 | 16 | 6,188 | ||||||||
Interest expense | - | - | 829 | 829 | ||||||||
Equity in net income (loss) of affiliates | -18 | - | 109 | 91 | ||||||||
Other income (expense) – net | - | - | 50 | 50 | ||||||||
Segment income (loss) before income taxes | $ | 4,605 | $ | 1,549 | $ | -654 | $ | 5,500 | ||||
For the nine months ended September 30, 2013 | Consolidated Results | |||||||||||
Wireless | Wireline | Corporate and Other | ||||||||||
Service | $ | 45,892 | $ | 43,266 | $ | - | $ | 89,158 | ||||
Equipment | 5,570 | 832 | 29 | 6,431 | ||||||||
Total segment operating revenues | 51,462 | 44,098 | 29 | 95,589 | ||||||||
Operations and support expenses | 31,932 | 31,137 | 564 | 63,633 | ||||||||
Depreciation and amortization expenses | 5,553 | 8,146 | 16 | 13,715 | ||||||||
Total segment operating expenses | 37,485 | 39,283 | 580 | 77,348 | ||||||||
Segment operating income (loss) | 13,977 | 4,815 | -551 | 18,241 | ||||||||
Interest expense | - | - | 2,481 | 2,481 | ||||||||
Equity in net income (loss) of affiliates | -55 | 1 | 548 | 494 | ||||||||
Other income (expense) – net | - | - | 370 | 370 | ||||||||
Segment income (loss) before income taxes | $ | 13,922 | $ | 4,816 | $ | -2,114 | $ | 16,624 |
Pension_And_Postretirement_Ben
Pension And Postretirement Benefits | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Pension And Postretirement Benefits | ' | |||||||||||
Pension And Postretirement Benefits | ' | |||||||||||
NOTE 5. PENSION AND POSTRETIREMENT BENEFITS | ||||||||||||
Substantially all of our employees are covered by one of our noncontributory pension plans. We also provide certain medical, dental, life insurance, and death benefits to certain retired employees under various plans and accrue actuarially determined postretirement benefit costs as active employees earn these benefits. Our objective in funding these plans, in combination with the standards of the Employee Retirement Income Security Act of 1974, as amended (ERISA), is to accumulate assets sufficient to meet the plans' obligations to provide benefits to employees upon their retirement. | ||||||||||||
In July 2014, the U.S. Department of Labor (DOL) published in the Federal Register their final retroactive approval of our September 9, 2013 voluntary contribution of a preferred equity interest in AT&T Mobility II LLC, the primary holding company for our wireless business, to the trust used to pay pension benefits under our qualified pension plans. The preferred equity interest had a value of $9,114 at September 30, 2014. The trust is entitled to receive cumulative cash distributions of $560 per annum, which will be distributed quarterly in equal amounts and will be accounted for as contributions. We distributed $420 to the trust during the nine months ended September 30, 2014. So long as we make the distributions, the terms of the preferred interest will impose no limitations on our ability to declare a dividend, or repurchase shares. This preferred equity interest is a plan asset under ERISA and is recognized as such in the plan's separate financial statements. However, because the preferred equity interest is not unconditionally transferable to an unrelated party, it is not reflected in plan assets in our consolidated financial statements and instead has been eliminated in consolidation. | ||||||||||||
We recognize actuarial gains and losses on pension and postretirement plan assets in our operating results at our annual measurement date of December 31, unless earlier remeasurements are required. The following table details pension and postretirement benefit costs included in operating expenses in the accompanying consolidated statements of income, expense credits are denoted with parentheses. A portion of these expenses is capitalized as part of internal construction projects, providing a small reduction in the net expense recorded. | ||||||||||||
Three months ended | Nine months ended | |||||||||||
September 30, | September 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Pension cost: | ||||||||||||
Service cost – benefits earned during the period | $ | 282 | $ | 331 | $ | 846 | $ | 991 | ||||
Interest cost on projected benefit obligation | 661 | 608 | 1,984 | 1,822 | ||||||||
Expected return on assets | -849 | -828 | -2,549 | -2,484 | ||||||||
Amortization of prior service credit | -24 | -25 | -71 | -71 | ||||||||
Net pension cost | $ | 70 | $ | 86 | $ | 210 | $ | 258 | ||||
Postretirement cost: | ||||||||||||
Service cost – benefits earned during the period | $ | 59 | $ | 95 | $ | 175 | $ | 286 | ||||
Interest cost on accumulated postretirement benefit obligation | 365 | 389 | 1,094 | 1,168 | ||||||||
Expected return on assets | -165 | -177 | -491 | -533 | ||||||||
Amortization of prior service credit | -362 | -263 | -1,086 | -788 | ||||||||
Net postretirement (credit) cost | $ | -103 | $ | 44 | $ | -308 | $ | 133 | ||||
Combined net pension and postretirement (credit) cost | $ | -33 | $ | 130 | $ | -98 | $ | 391 | ||||
Our combined net pension and postretirement cost decreased $163 in the third quarter and $489 for the first nine months of 2014. The decrease reflects higher amortization of prior service credits due to plan changes, including changes to future costs for continued retiree healthcare coverage. The decrease also reflects increasing corporate bond rates, which contributed to lower service cost and higher interest costs. | ||||||||||||
Our fourth-quarter 2014 results will include the effects of settlement accounting for a portion of our pension plan. Due in part to our 2013 enhanced retirement offer and other distributions, lump sum distributions from the plan during 2014 exceeded service and interest costs in early October. | ||||||||||||
We also provide senior- and middle-management employees with nonqualified, unfunded supplemental retirement and savings plans. Net supplemental retirement pension benefits cost, which is not included in the table above, was $29 in the third quarter of 2014, of which $27 was interest cost, and $87 for the first nine months, of which $82 was interest cost. In 2013, net supplemental retirement pension benefits cost was $27 in the third quarter, of which $25 was interest cost, and $82 for the first nine months, of which $76 was interest cost. | ||||||||||||
Fair_Value_Measurements_And_Di
Fair Value Measurements And Disclosure | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value Measurements And Disclosure | ' | ||||||||||||
NOTE 6. FAIR VALUE MEASUREMENTS AND DISCLOSURE | |||||||||||||
The Fair Value Measurement and Disclosure framework provides a three-tiered fair value hierarchy that gives highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: | |||||||||||||
Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that we have the ability to access. | |||||||||||||
Level 2 Inputs to the valuation methodology include: | |||||||||||||
Quoted prices for similar assets and liabilities in active markets. | |||||||||||||
Quoted prices for identical or similar assets or liabilities in inactive markets. | |||||||||||||
Inputs other than quoted market prices that are observable for the asset or liability. | |||||||||||||
Inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |||||||||||||
Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | |||||||||||||
Fair value is often based on developed models in which there are few, if any, external observations. | |||||||||||||
The fair value measurements level of an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs. | |||||||||||||
The valuation methodologies described above may produce a fair value calculation that may not be indicative of future net realizable value or reflective of future fair values. We believe our valuation methods are appropriate and consistent with other market participants. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used since December 31, 2013. | |||||||||||||
Long-Term Debt and Other Financial Instruments | |||||||||||||
The carrying amounts and estimated fair values of our long-term debt, including current maturities and other financial instruments, are summarized as follows: | |||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Amount | Value | Amount | Value | ||||||||||
Notes and debentures | $ | 75,226 | $ | 82,938 | $ | 74,484 | $ | 79,309 | |||||
Commercial paper | - | - | 20 | 20 | |||||||||
Bank borrowings | 5 | 5 | 1 | 1 | |||||||||
Investment securities | 2,643 | 2,643 | 2,450 | 2,450 | |||||||||
The carrying value of debt with an original maturity of less than one year approximates market value. The fair value measurements used for notes and debentures are considered Level 2 and are determined using various methods, including quoted prices for identical or similar securities in both active and inactive markets. | |||||||||||||
Following is the fair value leveling for available-for-sale securities and derivatives as of September 30, 2014 and December 31, 2013: | |||||||||||||
30-Sep-14 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,108 | $ | - | $ | - | $ | 1,108 | |||||
International equities | 541 | - | - | 541 | |||||||||
Fixed income bonds | - | 913 | - | 913 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 131 | - | 131 | |||||||||
Cross-currency swaps | - | 1,536 | - | 1,536 | |||||||||
Liability Derivatives1 | |||||||||||||
Interest rate swaps | - | -10 | - | -10 | |||||||||
Cross-currency swaps | - | -901 | - | -901 | |||||||||
31-Dec-13 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,049 | $ | - | $ | - | $ | 1,049 | |||||
International equities | 563 | - | - | 563 | |||||||||
Fixed income bonds | - | 759 | - | 759 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 191 | - | 191 | |||||||||
Cross-currency swaps | - | 1,951 | - | 1,951 | |||||||||
Liability Derivatives1 | |||||||||||||
Interest rate swaps | - | -7 | - | -7 | |||||||||
Cross-currency swaps | - | -519 | - | -519 | |||||||||
1 | Derivatives designated as hedging instruments are reflected as Other assets, Other noncurrent liabilities and, for a portion of interest | ||||||||||||
rate swaps, Other current assets. | |||||||||||||
Investment Securities | |||||||||||||
Our investment securities include equities, fixed income bonds and other securities. A substantial portion of the fair values of our available-for-sale securities was estimated based on quoted market prices. Investments in securities not traded on a national securities exchange are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Realized gains and losses on securities are included in “Other income (expense) – net” in the consolidated statements of income using the specific identification method. Unrealized gains and losses, net of tax, on available-for-sale securities are recorded in accumulated OCI. Unrealized losses that are considered other than temporary are recorded in “Other income (expense) – net” with the corresponding reduction to the carrying basis of the investment. Fixed income investments of $91 have maturities of less than one year, $277 within one to three years, $292 within three to five years, and $253 for five or more years. | |||||||||||||
Our cash equivalent (money market securities) short-term investments (certificate and time deposits) and customer deposits are recorded at amortized cost, and the respective carrying amounts approximate fair values. Our short-term investments of $1,890 are recorded in “Other current assets” and our investment securities are recorded in “Other Assets” on the consolidated balance sheets. | |||||||||||||
Derivative Financial Instruments | |||||||||||||
We employ derivatives to manage certain market risks, primarily interest rate risk and foreign currency exchange risk. This includes the use of interest rate swaps, interest rate locks, foreign exchange forward contracts and combined interest rate foreign exchange contracts (cross-currency swaps). We do not use derivatives for trading or speculative purposes. We record derivatives on our consolidated balance sheets at fair value that is derived from observable market data, including yield curves and foreign exchange rates (all of our derivatives are Level 2). Cash flows associated with derivative instruments are presented in the same category on the consolidated statements of cash flows as the item being hedged. | |||||||||||||
The majority of our derivatives are designated either as a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge), or as a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). | |||||||||||||
Fair Value Hedging We designate our fixed-to-floating interest rate swaps as fair value hedges. The purpose of these swaps is to manage interest rate risk by managing our mix of fixed-rate and floating-rate debt. These swaps involve the receipt of fixed-rate amounts for floating interest rate payments over the life of the swaps without exchange of the underlying principal amount. Accrued and realized gains or losses from interest rate swaps impact interest expense in the consolidated statements of income. Unrealized gains on interest rate swaps are recorded at fair market value as assets, and unrealized losses on interest rate swaps are recorded at fair market value as liabilities. Changes in the fair values of the interest rate swaps are exactly offset by changes in the fair value of the underlying debt. Gains or losses realized upon early termination of our fair value hedges are recognized in interest expense. In the nine months ended September 30, 2014 and September 30, 2013, no ineffectiveness was measured on interest rate swaps designated as fair value hedges. | |||||||||||||
Cash Flow Hedging We designate our cross-currency swaps as cash flow hedges. We have entered into multiple cross-currency swaps to hedge our exposure to variability in expected future cash flows that are attributable to foreign currency risk generated from the issuance of our Euro, British pound sterling and Canadian dollar denominated debt. These agreements include initial and final exchanges of principal from fixed foreign denominations to fixed U.S. denominated amounts, to be exchanged at a specified rate, which was determined by the market spot rate upon issuance. They also include an interest rate swap of a fixed foreign-denominated rate to a fixed U.S. denominated interest rate. | |||||||||||||
Unrealized gains on derivatives designated as cash flow hedges are recorded at fair value as assets, and unrealized losses on derivatives designated as cash flow hedges are recorded at fair value as liabilities, both for the period they are outstanding. For derivative instruments designated as cash flow hedges, the effective portion is reported as a component of accumulated OCI until reclassified into interest expense in the same period the hedged transaction affects earnings. The gain or loss on the ineffective portion is recognized as “Other income (expense) – net” in the consolidated statements of income in each period. We evaluate the effectiveness of our cross-currency swaps each quarter. In the nine months ended September 30, 2014 and September 30, 2013, no ineffectiveness was measured on cross-currency swaps designated as cash flow hedges. | |||||||||||||
Periodically, we enter into and designate interest rate locks to partially hedge the risk of changes in interest payments attributable to increases in the benchmark interest rate during the period leading up to the probable issuance of fixed-rate debt. We designate our interest rate locks as cash flow hedges. Gains and losses when we settle our interest rate locks are amortized into income over the life of the related debt, except where a material amount is deemed to be ineffective, which would be immediately reclassified to “Other income (expense) – net” in the consolidated statements of income. Over the next 12 months, we expect to reclassify $42 from accumulated OCI to interest expense due to the amortization of net losses on historical interest rate locks. | |||||||||||||
We hedge a portion of the exchange risk involved in anticipation of highly probable foreign currency-denominated transactions. In anticipation of these transactions, we often enter into foreign exchange contracts to provide currency at a fixed rate. Some of these instruments are designated as cash flow hedges while others remain nondesignated, largely based on size and duration. Gains and losses at the time we settle or take delivery on our designated foreign exchange contracts are amortized into income in the same period the hedged transaction affects earnings, except where an amount is deemed to be ineffective, which would be immediately reclassified to “Other income (expense) – net” in the consolidated statements of income. In the nine months ended September 30, 2014 and September 30, 2013, no ineffectiveness was measured on foreign exchange contracts designated as cash flow hedges. | |||||||||||||
Collateral and Credit-Risk Contingency We have entered into agreements with our derivative counterparties establishing collateral thresholds based on respective credit ratings and netting agreements. At September 30, 2014, we had posted collateral of $58 (a deposit asset) and held collateral of $1,396 (a receipt liability). Under the agreements, if our credit rating had been downgraded one rating level by Moody's Investors Service and Standard & Poor's Rating Services and two rating levels by Fitch Ratings, before the final collateral exchange in September, we would have been required to post additional collateral of $71. At December 31, 2013, we had posted collateral of $8 (a deposit asset) and held collateral of $1,600 (a receipt liability). We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable), against the fair value of the derivative instruments. | |||||||||||||
Following is the notional amount of our outstanding derivative positions: | |||||||||||||
September 30, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Interest rate swaps | $ | 6,550 | $ | 4,750 | |||||||||
Cross-currency swaps | 20,650 | 17,787 | |||||||||||
Total | $ | 27,200 | $ | 22,537 | |||||||||
Following is the related hedged items affecting our financial position and performance: | |||||||||||||
Effect of Derivatives on the Consolidated Statements of Income | |||||||||||||
Fair Value Hedging Relationships | Three months ended | Nine months ended | |||||||||||
30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||
Interest rate swaps (Interest expense): | |||||||||||||
Gain (Loss) on interest rate swaps | $ | -70 | $ | 9 | $ | -59 | $ | -78 | |||||
Gain (Loss) on long-term debt | 70 | -9 | 59 | 78 | |||||||||
In addition, the net swap settlements that accrued and settled in the quarter ended September 30 were offset against interest expense. | |||||||||||||
Cash Flow Hedging Relationships | Three months ended | Nine months ended | |||||||||||
30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||
Cross-currency swaps: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | $ | 567 | $ | 482 | $ | 418 | $ | 807 | |||||
Interest rate locks: | |||||||||||||
Interest income (expense) reclassified from accumulated OCI into income | -11 | -11 | -33 | -34 | |||||||||
Foreign exchange contracts: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | - | 5 | -2 | 5 |
Acquisitions_Dispositions_And_
Acquisitions, Dispositions And Other Adjustments | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Acquisitions, Dispositions And Other Adjustments | ' | ||||||
Acquisitions, Dispositions And Other Adjustments | ' | ||||||
NOTE 7. ACQUISITIONS, DISPOSITIONS AND OTHER ADJUSTMENTS | |||||||
Acquisitions | |||||||
Leap On March 13, 2014, we acquired Leap, a provider of prepaid wireless service, for fifteen dollars per outstanding share of Leap's common stock, or $1,248 (excluding Leap's cash on hand), plus one nontransferable contingent value right (CVR) per share. The CVR will entitle each Leap stockholder to a pro rata share of the net proceeds of the future sale of the Chicago 700 MHz A-band Federal Communications Commission (FCC) license held by Leap. | |||||||
The preliminary values of assets acquired under the terms of the agreement were: $3,000 in licenses, $510 in property, plant and equipment, $520 of customer lists, $340 for trade names and $744 of goodwill. The estimated fair value of debt associated with the acquisition of Leap was $3,889, all of which was redeemed or matured by July 31, 2014. | |||||||
Pending Acquisition | |||||||
DIRECTV In May 2014, we announced a merger agreement to acquire DIRECTV in a stock-and-cash transaction for ninety-five dollars per share of DIRECTV's common stock, or approximately $48,500 at the date of announcement. As of September 30, 2014, DIRECTV had approximately $16,852 in net debt based on DIRECTV's financial statements included in the Form 10-Q for the third quarter of 2014. Each DIRECTV shareholder will receive cash of $28.50 per share and $66.50 per share in our stock. The stock portion will be subject to a collar such that DIRECTV shareholders will receive 1.905 AT&T shares if our stock price is below $34.90 per share at closing and 1.724 AT&T shares if our stock price is above $38.58 at closing. If our average stock price (calculated in accordance with the merger agreement with DIRECTV) is between $34.90 and $38.58 at closing, then DIRECTV shareholders will receive a number of shares between 1.724 and 1.905, equal to $66.50 in value. DIRECTV is a premier pay TV provider in the United States and Latin America, with a high-quality customer base, the best selection of programming, the best technology for delivering and viewing high-quality video on any device and the best customer satisfaction among major U.S. cable and satellite TV providers. | |||||||
The merger agreement was adopted by DIRECTV's stockholders on September 25, 2014 and remains subject to review by the FCC and the Department of Justice and to other closing conditions. It is also a condition that all necessary consents by certain foreign governmental entities have been obtained and are in full force and effect. The transaction is expected to close in the first half of 2015. The merger agreement provides certain mutual termination rights for us and DIRECTV, including the right of either party to terminate the agreement if the merger is not consummated by May 18, 2015, subject to extension in certain cases to a date no later than November 13, 2015. Either party may also terminate the agreement if an order permanently restraining, enjoining, or otherwise prohibiting consummation of the merger becomes final and nonappealable. In October 2014, DIRECTV and the National Football League renewed their agreement for the “NFL Sunday Ticket” service substantially on the terms discussed between AT&T and DIRECTV, satisfying one of the conditions to closing the merger. Under certain circumstances relating to a competing transaction, DIRECTV may be required to pay a termination fee to us in connection with or following a termination of the agreement. | |||||||
Dispositions | |||||||
América Móvil In May 2014, in conjunction with the announcement of our intention to dispose of our investment in América Móvil and the resignation of our board members from the board of América Móvil, we discontinued accounting for this investment under the equity method due to our lack of significant influence. On June 30, 2014, we sold our remaining stake in América Móvil for approximately $5,566 and recorded a pre-tax gain of $1,243. At closing, we received $4,565 cash and we received the remaining cash in the third quarter. | |||||||
Connecticut Wireline In December 2013, we agreed to sell our incumbent local exchange operations in Connecticut to Frontier Communications Corporation for $2,000 in cash. The transaction was approved by the FCC in July 2014 and was approved by the Connecticut Public Utilities Regulatory Authority on October 15, 2014. The transaction closed on October 24, 2014. | |||||||
We applied held-for-sale treatment to the assets and liabilities of the Connecticut operations, and, accordingly, included the assets in “Other current assets,” and the related liabilities in “Accounts payable and accrued liabilities,” on our consolidated balance sheets. However, the business does not qualify as discontinued operations as we expect significant continuing direct cash flows related to the disposed operations. Assets and liabilities of the Connecticut operations included the following: | |||||||
September 30, | December 31, | ||||||
2014 | 2013 | ||||||
Assets held for sale: | |||||||
Current assets | $ | 138 | $ | 155 | |||
Property, plant and equipment - net | 1,436 | 1,289 | |||||
Goodwill | 799 | 799 | |||||
Other assets | 18 | 17 | |||||
Total assets | $ | 2,391 | $ | 2,260 | |||
Liabilities related to assets held for sale: | |||||||
Current liabilities | $ | 122 | $ | 128 | |||
Noncurrent liabilities | 537 | 480 | |||||
Total liabilities | $ | 659 | $ | 608 |
Sale_of_Equipment_Installment_
Sale of Equipment Installment Receivables | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Changes In Other Assets [Abstract] | ' | ||||||
Finance Receivables Disclosure[Text Block] | ' | ||||||
NOTE 8. SALES OF EQUIPMENT INSTALLMENT RECEIVABLES | |||||||
We offer our customers the option to purchase certain wireless devices in installments over a period of up to 24 months, with the right to trade in the original equipment for a new device and have the remaining unpaid balance satisfied. As of September 30, 2014, gross equipment installment receivables of $3,002 were included on our consolidated balance sheets, of which $1,861 are notes receivable that are included in “Accounts receivable, net.” | |||||||
On June 27, 2014, we entered into uncommitted agreements pertaining to the sale of equipment installment receivables and related security with Citibank, N.A. and various other relationship banks as purchasers (collectively, the Purchasers) with a funding amount not expected to exceed $2,000 at any given time. Under the agreement, we may transfer the receivables to the Purchasers for cash and additional consideration upon settlement of the receivables. Under the terms of the arrangement, we continue to bill and collect on behalf of our customers for the receivables sold. | |||||||
The following table sets forth a summary of equipment installment receivables sold during the three months and nine months ended September 30, 2014: | |||||||
Three months | Nine months | ||||||
Net receivables sold1 | $ | 885 | $ | 2,276 | |||
Cash proceeds received | 556 | 1,375 | |||||
Deferred purchase price recorded | 324 | 889 | |||||
1 | Gross receivables sold were $1,028 and $2,665 for the third quarter and the first nine months of 2014, respectively, before | ||||||
deducting the allowance, imputed interest and trade-in right guarantees. | |||||||
The deferred purchase price was initially recorded at estimated fair value, which was based on remaining installment payments expected to be collected, adjusted by the expected timing and value of the device trade-ins, and is subsequently carried at the lower of cost or net realizable value. The value of the device trade-ins considers estimated prices offered to us by independent, third parties that contemplate changes in value after the launch of a device. At September 30, 2014, our deferred purchase price receivable was $901, which is included in “Other Assets” on our consolidated balance sheets. Our maximum exposure to loss as a result of selling these receivables is limited to the amount of our deferred purchase price at any point in time. | |||||||
These transactions did not have a material impact in our consolidated statements of income or to “Total Assets” reported on our consolidated balance sheets. We reflect the cash flows related to the arrangement as operating activities in our consolidated statements of cash flows because the cash received from the Purchasers upon both the sale of the receivables and the collection of the deferred purchase price is not subject to significant interest rate risk. |
Preparation_Of_Interim_Financi1
Preparation Of Interim Financial Statements (Policy) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation and Significant Accounting Policies | ' |
Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” We believe that these consolidated financial statements include all adjustments, consisting only of normal recurring accruals, that are necessary to present fairly the results for the presented interim periods. The results for the interim periods are not necessarily indicative of those for the full year. You should read this document in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2013. | |
The consolidated financial statements include the accounts of the Company and our majority-owned subsidiaries and affiliates. Our subsidiaries and affiliates operate in the communications services industry both domestically and internationally, providing wireless communications services, traditional wireline voice services, data/broadband and Internet services, video services, telecommunications equipment, managed networking and wholesale services. On March 13, 2014, we closed our acquisition of Leap Wireless International, Inc. (Leap) (see Note 7), and we incorporated Leap into our wireless operations following the date of acquisition. | |
All significant intercompany transactions are eliminated in the consolidation process. Investments in less than majority-owned subsidiaries and partnerships where we have significant influence are accounted for under the equity method. Earnings from certain foreign equity investments accounted for using the equity method are included for periods ended within up to one month of our period end. We also recorded our proportionate share of our equity method investees' other comprehensive income (OCI) items, including actuarial gains and losses on pension and other postretirement benefit obligations. On June 30, 2014, we completed the sale of our investment in América Móvil, S.A.B. de C.V. (América Móvil) to an unrelated third party (see Note 7). | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes, including estimates of probable losses and expenses. Actual results could differ from those estimates. Certain amounts have been reclassified to conform to the current period's presentation. | |
Goodwill And Other Intangible Assets | ' |
During the fourth-quarter we conduct our annual impairment testing of intangible assets, remeasure the plan assets and obligations of our benefit plans and, due to our continued access line losses and technology changes, we are assessing certain network assets for under-utilization and/or abandonment. | |
Stock Repurchase Program | ' |
Stock Repurchase Program During the first nine months of 2014, we repurchased approximately 48 million shares for $1,617 under a repurchase authorization that was approved by our Board of Directors in March 2013. In March 2014, our Board of Directors approved a fourth authorization to repurchase 300 million shares of our common stock. As of September 30, 2014, we had approximately 415 million shares remaining from these authorizations. The repurchase authorizations have no expiration date, and we expect to make future repurchases opportunistically. | |
Software Costs | ' |
Software Costs During 2014, we completed studies evaluating the periods that we were utilizing our software assets. As of April 1 and July 1, 2014, we extended our estimated useful lives for capitalized non-network and network software, respectively, to five years to better reflect the estimated periods during which these assets will remain in service and to align with the estimated useful lives used in the industry. This change in accounting estimate increased net income $198, or $0.04 per diluted share, in the third quarter and $330, or $0.06 per diluted share, for the first nine months of 2014. | |
New Accounting Standards | ' |
New Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09), which replaces existing revenue recognition rules with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. Upon initial evaluation, we believe the key changes in the standard that impact our revenue recognition relate to the allocation of contract revenues between service and equipment, and the timing in which those revenues are recognized. ASU 2014-09 also specifies that incremental costs of obtaining or fulfilling our contracts with customers should be deferred. ASU 2014-09 becomes effective for annual reporting periods beginning after December 15, 2016. | |
The FASB will allow two adoption methods under ASU 2014-09. Under one method, a company will apply the rules to contracts in all reporting periods presented, subject to certain allowable exceptions. Under the other method, a company will apply the rules to all contracts existing as of January 1, 2017, recognizing in beginning retained earnings an adjustment for the cumulative effect of the change and provide additional disclosures comparing results to previous rules. We continue to evaluate the impact of the new standard and available adoption methods. |
Fair_Value_Measurements_And_Di1
Fair Value Measurements And Disclosure (Policy) | 9 Months Ended |
Sep. 30, 2014 | |
Fair Value Disclosures [Abstract] | ' |
Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block] | ' |
We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable), against the fair value of the derivative instruments. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Earnings Per Share | ' | |||||||||||
Reconciliation Of The Numerators And Denominators Of Basic Earnings Per Share And Diluted Earnings Per Share | ' | |||||||||||
Three months ended | Nine months ended | |||||||||||
September 30, | September 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Numerators | ||||||||||||
Numerator for basic earnings per share: | ||||||||||||
Net Income | $ | 3,059 | $ | 3,905 | $ | 10,414 | $ | 11,558 | ||||
Less: Net income attributable to noncontrolling interest | -57 | -91 | -213 | -222 | ||||||||
Net Income attributable to AT&T | 3,002 | 3,814 | 10,201 | 11,336 | ||||||||
Dilutive potential common shares: | ||||||||||||
Share-based payment | 3 | 3 | 10 | 9 | ||||||||
Numerator for diluted earnings per share | $ | 3,005 | $ | 3,817 | $ | 10,211 | $ | 11,345 | ||||
Denominators (000,000) | ||||||||||||
Denominator for basic earnings per share: | ||||||||||||
Weighted average number of common shares outstanding | 5,198 | 5,315 | 5,208 | 5,402 | ||||||||
Dilutive potential common shares: | ||||||||||||
Share-based payment (in shares) | 16 | 16 | 16 | 17 | ||||||||
Denominator for diluted earnings per share | 5,214 | 5,331 | 5,224 | 5,419 | ||||||||
Basic earnings per share attributable to AT&T | $ | 0.58 | $ | 0.72 | $ | 1.96 | $ | 2.1 | ||||
Diluted earnings per share attributable to AT&T | $ | 0.58 | $ | 0.72 | $ | 1.95 | $ | 2.09 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||||||
At September 30, 2014 and for the period ended: | ||||||||||||||||
Foreign Currency Translation Adjustment | Net Unrealized Gains (Losses) on Available-for-Sale Securities | Net Unrealized Gains (Losses) on Cash Flow Hedges | Defined Benefit Postretirement Plans | Accumulated Other Comprehensive Income | ||||||||||||
Balance as of December 31, 2013 | $ | -367 | $ | 450 | $ | 445 | $ | 7,352 | $ | 7,880 | ||||||
Other comprehensive income (loss) before reclassifications | -29 | 30 | 272 | - | 273 | |||||||||||
Amounts reclassified from accumulated OCI | 416 | 1 | -15 | 2 | 29 | 3 | -657 | 4 | -227 | |||||||
Net other comprehensive income (loss) | 387 | 15 | 301 | -657 | 46 | |||||||||||
Balance as of September 30, 2014 | $ | 20 | $ | 465 | $ | 746 | $ | 6,695 | $ | 7,926 | ||||||
At September 30, 2013 and for the period ended: | ||||||||||||||||
Foreign Currency Translation Adjustment | Net Unrealized Gains (Losses) on Available-for-Sale Securities | Net Unrealized Gains (Losses) on Cash Flow Hedges | Defined Benefit Postretirement Plans | Accumulated Other Comprehensive Income | ||||||||||||
Balance as of December 31, 2012 | $ | -284 | $ | 272 | $ | -110 | $ | 5,358 | $ | 5,236 | ||||||
Other comprehensive income (loss) before reclassifications | -153 | 155 | 526 | - | 528 | |||||||||||
Amounts reclassified from accumulated OCI | 34 | 1 | -13 | 2 | 22 | 3 | -525 | 4 | -482 | |||||||
Net other comprehensive income (loss) | -119 | 142 | 548 | -525 | 46 | |||||||||||
Balance as of September 30, 2013 | $ | -403 | $ | 414 | $ | 438 | $ | 4,833 | $ | 5,282 | ||||||
1 | Pre-tax translation loss reclassifications are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
2 | Pre-tax gains are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
3 | (Gains) losses are included in interest expense in the consolidated statements of income. See Note 6 for additional information. | |||||||||||||||
4 | The amortization of prior service credits associated with postretirement benefits, net of amounts capitalized as part of construction | |||||||||||||||
labor, are included in Cost of services and sales and Selling, general and administrative in the consolidated statements of income | ||||||||||||||||
(see Note 5). Actuarial loss reclassifications related to our equity method investees are included in Other income (expense) - net | ||||||||||||||||
in the consolidated statements of income. |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Segment Information | ' | |||||||||||
Summary Of Operating Revenues And Expenses By Segment | ' | |||||||||||
For the three months ended September 30, 2014 | Consolidated Results | |||||||||||
Wireless | Wireline | Corporate and Other | ||||||||||
Service | $ | 15,423 | $ | 14,368 | $ | - | $ | 29,791 | ||||
Equipment | 2,914 | 247 | 5 | 3,166 | ||||||||
Total segment operating revenues | 18,337 | 14,615 | 5 | 32,957 | ||||||||
Operations and support expenses | 11,855 | 10,761 | 400 | 23,016 | ||||||||
Depreciation and amortization expenses | 1,965 | 2,571 | 3 | 4,539 | ||||||||
Total segment operating expenses | 13,820 | 13,332 | 403 | 27,555 | ||||||||
Segment operating income (loss) | 4,517 | 1,283 | -398 | 5,402 | ||||||||
Interest expense | - | - | 1,016 | 1,016 | ||||||||
Equity in net income (loss) of affiliates | -26 | 1 | 23 | -2 | ||||||||
Other income (expense) – net | - | - | 42 | 42 | ||||||||
Segment income (loss) before income taxes | $ | 4,491 | $ | 1,284 | $ | -1,349 | $ | 4,426 | ||||
For the nine months ended September 30, 2014 | Consolidated Results | |||||||||||
Wireless | Wireline | Corporate and Other | ||||||||||
Service | $ | 45,958 | $ | 43,165 | $ | - | $ | 89,123 | ||||
Equipment | 8,175 | 688 | 22 | 8,885 | ||||||||
Total segment operating revenues | 54,133 | 43,853 | 22 | 98,008 | ||||||||
Operations and support expenses | 34,305 | 31,918 | 783 | 67,006 | ||||||||
Depreciation and amortization expenses | 5,931 | 7,769 | 6 | 13,706 | ||||||||
Total segment operating expenses | 40,236 | 39,687 | 789 | 80,712 | ||||||||
Segment operating income (loss) | 13,897 | 4,166 | -767 | 17,296 | ||||||||
Interest expense | - | - | 2,757 | 2,757 | ||||||||
Equity in net income (loss) of affiliates | -75 | 2 | 261 | 188 | ||||||||
Other income (expense) – net | - | - | 1,456 | 1,456 | ||||||||
Segment income (loss) before income taxes | $ | 13,822 | $ | 4,168 | $ | -1,807 | $ | 16,183 | ||||
For the three months ended September 30, 2013 | Consolidated Results | |||||||||||
Wireless | Wireline | Corporate and Other | ||||||||||
Service | $ | 15,460 | $ | 14,403 | $ | - | $ | 29,863 | ||||
Equipment | 2,020 | 267 | 8 | 2,295 | ||||||||
Total segment operating revenues | 17,480 | 14,670 | 8 | 32,158 | ||||||||
Operations and support expenses | 10,982 | 10,385 | -12 | 21,355 | ||||||||
Depreciation and amortization expenses | 1,875 | 2,736 | 4 | 4,615 | ||||||||
Total segment operating expenses | 12,857 | 13,121 | -8 | 25,970 | ||||||||
Segment operating income | 4,623 | 1,549 | 16 | 6,188 | ||||||||
Interest expense | - | - | 829 | 829 | ||||||||
Equity in net income (loss) of affiliates | -18 | - | 109 | 91 | ||||||||
Other income (expense) – net | - | - | 50 | 50 | ||||||||
Segment income (loss) before income taxes | $ | 4,605 | $ | 1,549 | $ | -654 | $ | 5,500 | ||||
For the nine months ended September 30, 2013 | Consolidated Results | |||||||||||
Wireless | Wireline | Corporate and Other | ||||||||||
Service | $ | 45,892 | $ | 43,266 | $ | - | $ | 89,158 | ||||
Equipment | 5,570 | 832 | 29 | 6,431 | ||||||||
Total segment operating revenues | 51,462 | 44,098 | 29 | 95,589 | ||||||||
Operations and support expenses | 31,932 | 31,137 | 564 | 63,633 | ||||||||
Depreciation and amortization expenses | 5,553 | 8,146 | 16 | 13,715 | ||||||||
Total segment operating expenses | 37,485 | 39,283 | 580 | 77,348 | ||||||||
Segment operating income (loss) | 13,977 | 4,815 | -551 | 18,241 | ||||||||
Interest expense | - | - | 2,481 | 2,481 | ||||||||
Equity in net income (loss) of affiliates | -55 | 1 | 548 | 494 | ||||||||
Other income (expense) – net | - | - | 370 | 370 | ||||||||
Segment income (loss) before income taxes | $ | 13,922 | $ | 4,816 | $ | -2,114 | $ | 16,624 |
Pension_And_Postretirement_Ben1
Pension And Postretirement Benefits (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Pension And Postretirement Benefits | ' | |||||||||||
Pension And Postretirement Benefit Costs Included In Operating Expenses | ' | |||||||||||
Three months ended | Nine months ended | |||||||||||
September 30, | September 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Pension cost: | ||||||||||||
Service cost – benefits earned during the period | $ | 282 | $ | 331 | $ | 846 | $ | 991 | ||||
Interest cost on projected benefit obligation | 661 | 608 | 1,984 | 1,822 | ||||||||
Expected return on assets | -849 | -828 | -2,549 | -2,484 | ||||||||
Amortization of prior service credit | -24 | -25 | -71 | -71 | ||||||||
Net pension cost | $ | 70 | $ | 86 | $ | 210 | $ | 258 | ||||
Postretirement cost: | ||||||||||||
Service cost – benefits earned during the period | $ | 59 | $ | 95 | $ | 175 | $ | 286 | ||||
Interest cost on accumulated postretirement benefit obligation | 365 | 389 | 1,094 | 1,168 | ||||||||
Expected return on assets | -165 | -177 | -491 | -533 | ||||||||
Amortization of prior service credit | -362 | -263 | -1,086 | -788 | ||||||||
Net postretirement (credit) cost | $ | -103 | $ | 44 | $ | -308 | $ | 133 | ||||
Combined net pension and postretirement (credit) cost | $ | -33 | $ | 130 | $ | -98 | $ | 391 |
Fair_Value_Measurements_And_Di2
Fair Value Measurements And Disclosure (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Long-Term Debt And Other Financial Instruments | ' | ||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Amount | Value | Amount | Value | ||||||||||
Notes and debentures | $ | 75,226 | $ | 82,938 | $ | 74,484 | $ | 79,309 | |||||
Commercial paper | - | - | 20 | 20 | |||||||||
Bank borrowings | 5 | 5 | 1 | 1 | |||||||||
Investment securities | 2,643 | 2,643 | 2,450 | 2,450 | |||||||||
Fair Value Leveling | ' | ||||||||||||
30-Sep-14 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,108 | $ | - | $ | - | $ | 1,108 | |||||
International equities | 541 | - | - | 541 | |||||||||
Fixed income bonds | - | 913 | - | 913 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 131 | - | 131 | |||||||||
Cross-currency swaps | - | 1,536 | - | 1,536 | |||||||||
Liability Derivatives1 | |||||||||||||
Interest rate swaps | - | -10 | - | -10 | |||||||||
Cross-currency swaps | - | -901 | - | -901 | |||||||||
31-Dec-13 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,049 | $ | - | $ | - | $ | 1,049 | |||||
International equities | 563 | - | - | 563 | |||||||||
Fixed income bonds | - | 759 | - | 759 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 191 | - | 191 | |||||||||
Cross-currency swaps | - | 1,951 | - | 1,951 | |||||||||
Liability Derivatives1 | |||||||||||||
Interest rate swaps | - | -7 | - | -7 | |||||||||
Cross-currency swaps | - | -519 | - | -519 | |||||||||
1 | Derivatives designated as hedging instruments are reflected as Other assets, Other noncurrent liabilities and, for a portion of interest | ||||||||||||
rate swaps, Other current assets. | |||||||||||||
Notional Amount Of Outstanding Derivative Positions | ' | ||||||||||||
September 30, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Interest rate swaps | $ | 6,550 | $ | 4,750 | |||||||||
Cross-currency swaps | 20,650 | 17,787 | |||||||||||
Total | $ | 27,200 | $ | 22,537 | |||||||||
Effect Of Derivatives On The Consolidated Statements Of Income | ' | ||||||||||||
Following is the related hedged items affecting our financial position and performance: | |||||||||||||
Effect of Derivatives on the Consolidated Statements of Income | |||||||||||||
Fair Value Hedging Relationships | Three months ended | Nine months ended | |||||||||||
30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||
Interest rate swaps (Interest expense): | |||||||||||||
Gain (Loss) on interest rate swaps | $ | -70 | $ | 9 | $ | -59 | $ | -78 | |||||
Gain (Loss) on long-term debt | 70 | -9 | 59 | 78 | |||||||||
Cash Flow Hedging Relationships | Three months ended | Nine months ended | |||||||||||
30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||
Cross-currency swaps: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | $ | 567 | $ | 482 | $ | 418 | $ | 807 | |||||
Interest rate locks: | |||||||||||||
Interest income (expense) reclassified from accumulated OCI into income | -11 | -11 | -33 | -34 | |||||||||
Foreign exchange contracts: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | - | 5 | -2 | 5 |
Acquisitions_Dispositions_And_1
Acquisitions, Dispositions And Other Adjustments (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Acquisitions, Dispositions And Other Adjustments | ' | ||||||
Balance Sheet of Disposal Group | ' | ||||||
September 30, | December 31, | ||||||
2014 | 2013 | ||||||
Assets held for sale: | |||||||
Current assets | $ | 138 | $ | 155 | |||
Property, plant and equipment - net | 1,436 | 1,289 | |||||
Goodwill | 799 | 799 | |||||
Other assets | 18 | 17 | |||||
Total assets | $ | 2,391 | $ | 2,260 | |||
Liabilities related to assets held for sale: | |||||||
Current liabilities | $ | 122 | $ | 128 | |||
Noncurrent liabilities | 537 | 480 | |||||
Total liabilities | $ | 659 | $ | 608 |
Sale_of_Equipment_Installment_1
Sale of Equipment Installment Receivables (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Changes In Other Assets [Abstract] | ' | ||||||
Finance Receivables | ' | ||||||
Three months | Nine months | ||||||
Net receivables sold1 | $ | 885 | $ | 2,276 | |||
Cash proceeds received | 556 | 1,375 | |||||
Deferred purchase price recorded | 324 | 889 | |||||
1 | Gross receivables sold were $1,028 and $2,665 for the third quarter and the first nine months of 2014, respectively, before | ||||||
deducting the allowance, imputed interest and trade-in right guarantees. |
Preparation_Of_Interim_Financi2
Preparation Of Interim Financial Statements (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Jul. 01, 2014 | Apr. 01, 2014 | Sep. 30, 2014 | Mar. 31, 2014 |
In Millions, unless otherwise specified | Service Life [Member] | Service Life [Member] | Service Life [Member] | Service Life [Member] | Stock Repurchase Program March 2013 [Member] | Stock Repurchase Program March 2014 [Member] | |
Software [Member] | Software [Member] | Software - Network [Member] | Software- Non-Network [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | ' | ' | ' | ' | 300 |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 415 | ' | ' | ' | ' | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | ' | ' | ' | $1,617 | ' |
Treasury Stock, Shares, Acquired | ' | ' | ' | ' | ' | 48 | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life (years) | ' | ' | ' | '5 years 0 months 0 days | '5 years 0 months 0 days | ' | ' |
Change in Accounting Estimate, Financial Effect | ' | '$198, or $0.04 per diluted share | '$330, or $0.06 per diluted share | ' | ' | ' | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share | ' | ' | ' | ' |
Net income | $3,059 | $3,905 | $10,414 | $11,558 |
Less: Net income attributable to noncontrolling interest | -57 | -91 | -213 | -222 |
Net Income attributable to AT&T | 3,002 | 3,814 | 10,201 | 11,336 |
Share-based payment | 3 | 3 | 10 | 9 |
Numerator for diluted earnings per share | $3,005 | $3,817 | $10,211 | $11,345 |
Weighted-average number of common shares outstanding | 5,198 | 5,315 | 5,208 | 5,402 |
Share-based payment (in shares) | 16 | 16 | 16 | 17 |
Denominator for diluted earnings per share | 5,214 | 5,331 | 5,224 | 5,419 |
Basic Earnings Per Share Attributable to AT&T | $0.58 | $0.72 | $1.96 | $2.10 |
Diluted Earnings Per Share Attributable to AT&T | $0.58 | $0.72 | $1.95 | $2.09 |
Stock options issued and outstanding | 11 | 12 | 11 | 12 |
Stock options with exercise prices above average market price of company stock | 3 | 3 | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | $7,880 | $5,236 |
Other comprehensive income (loss) before reclassification, net of tax | 273 | 528 |
Amounts reclassifed from accumulated OCI, net of tax | -227 | -482 |
Net other comprehensive income (loss), net of tax | 46 | 46 |
Accumulated other comprehensive income, ending balance | 7,926 | 5,282 |
Foreign Currency Translation Adjustment [Member] | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | -367 | -284 |
Other comprehensive income (loss) before reclassification, net of tax | -29 | -153 |
Amounts reclassifed from accumulated OCI, net of tax | 416 | 34 |
Net other comprehensive income (loss), net of tax | 387 | -119 |
Accumulated other comprehensive income, ending balance | 20 | -403 |
Net Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | 450 | 272 |
Other comprehensive income (loss) before reclassification, net of tax | 30 | 155 |
Amounts reclassifed from accumulated OCI, net of tax | -15 | -13 |
Net other comprehensive income (loss), net of tax | 15 | 142 |
Accumulated other comprehensive income, ending balance | 465 | 414 |
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | 445 | -110 |
Other comprehensive income (loss) before reclassification, net of tax | 272 | 526 |
Amounts reclassifed from accumulated OCI, net of tax | 29 | 22 |
Net other comprehensive income (loss), net of tax | 301 | 548 |
Accumulated other comprehensive income, ending balance | 746 | 438 |
Defined Benefit Postretirement Plans [Member] | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | 7,352 | 5,358 |
Other comprehensive income (loss) before reclassification, net of tax | 0 | 0 |
Amounts reclassifed from accumulated OCI, net of tax | -657 | -525 |
Net other comprehensive income (loss), net of tax | -657 | -525 |
Accumulated other comprehensive income, ending balance | $6,695 | $4,833 |
Segment_Information_Summary_Of
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Service | $29,791 | $29,863 | $89,123 | $89,158 |
Equipment | 3,166 | 2,295 | 8,885 | 6,431 |
Total segment operating revenues | 32,957 | 32,158 | 98,008 | 95,589 |
Operations and support expenses | 23,016 | 21,355 | 67,006 | 63,633 |
Depreciation and amortization expenses | 4,539 | 4,615 | 13,706 | 13,715 |
Total segment operating expenses | 27,555 | 25,970 | 80,712 | 77,348 |
Segment operating income (loss) | 5,402 | 6,188 | 17,296 | 18,241 |
Interest expense | 1,016 | 829 | 2,757 | 2,481 |
Equity in net income (loss) of affiliates | -2 | 91 | 188 | 494 |
Other income (expense) - net | 42 | 50 | 1,456 | 370 |
Segment income (loss) before income taxes | 4,426 | 5,500 | 16,183 | 16,624 |
Operating Segments [Member] | Wireless [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Service | 15,423 | 15,460 | 45,958 | 45,892 |
Equipment | 2,914 | 2,020 | 8,175 | 5,570 |
Total segment operating revenues | 18,337 | 17,480 | 54,133 | 51,462 |
Operations and support expenses | 11,855 | 10,982 | 34,305 | 31,932 |
Depreciation and amortization expenses | 1,965 | 1,875 | 5,931 | 5,553 |
Total segment operating expenses | 13,820 | 12,857 | 40,236 | 37,485 |
Segment operating income (loss) | 4,517 | 4,623 | 13,897 | 13,977 |
Interest expense | 0 | 0 | 0 | 0 |
Equity in net income (loss) of affiliates | -26 | -18 | -75 | -55 |
Other income (expense) - net | 0 | 0 | 0 | 0 |
Segment income (loss) before income taxes | 4,491 | 4,605 | 13,822 | 13,922 |
Operating Segments [Member] | Wireline [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Service | 14,368 | 14,403 | 43,165 | 43,266 |
Equipment | 247 | 267 | 688 | 832 |
Total segment operating revenues | 14,615 | 14,670 | 43,853 | 44,098 |
Operations and support expenses | 10,761 | 10,385 | 31,918 | 31,137 |
Depreciation and amortization expenses | 2,571 | 2,736 | 7,769 | 8,146 |
Total segment operating expenses | 13,332 | 13,121 | 39,687 | 39,283 |
Segment operating income (loss) | 1,283 | 1,549 | 4,166 | 4,815 |
Interest expense | 0 | 0 | 0 | 0 |
Equity in net income (loss) of affiliates | 1 | 0 | 2 | 1 |
Other income (expense) - net | 0 | 0 | 0 | 0 |
Segment income (loss) before income taxes | 1,284 | 1,549 | 4,168 | 4,816 |
Consolidation Non-Segment [Member] | Corporate and Other [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Service | 0 | 0 | 0 | 0 |
Equipment | 5 | 8 | 22 | 29 |
Total segment operating revenues | 5 | 8 | 22 | 29 |
Operations and support expenses | 400 | -12 | 783 | 564 |
Depreciation and amortization expenses | 3 | 4 | 6 | 16 |
Total segment operating expenses | 403 | -8 | 789 | 580 |
Segment operating income (loss) | -398 | 16 | -767 | -551 |
Interest expense | 1,016 | 829 | 2,757 | 2,481 |
Equity in net income (loss) of affiliates | 23 | 109 | 261 | 548 |
Other income (expense) - net | 42 | 50 | 1,456 | 370 |
Segment income (loss) before income taxes | ($1,349) | ($654) | ($1,807) | ($2,114) |
Segment_Information_Summary_Of1
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2014 | |
Business Segment Transaction [Abstract] | ' |
Number of Reportable Segments | 2 |
Pension_And_Postretirement_Ben2
Pension And Postretirement Benefits (Narrative) (Details) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 09, 2013 | Jul. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2014 |
Pension And Postretirement Benefits | ' | ' | ' | ' | ' | ' | ' |
Combined net pension and postretirement cost increase (decrease) | ' | ' | ($163) | ' | ($489) | ' | ' |
Net supplemental retirement pension benefits costs | ' | ' | 29 | 27 | 87 | 82 | ' |
Net supplemental retirement pension benefits costs - interest cost | ' | ' | 27 | 25 | 82 | 76 | ' |
Pension Contribution Date | 9-Sep-13 | ' | ' | ' | ' | ' | ' |
Required contribution to our pension plans | ' | ' | ' | ' | 420 | ' | 560 |
Value of entity's noncash contribution to it's defined benefit plans | ' | ' | $9,114 | ' | $9,114 | ' | ' |
Voluntary Pension Contribution Department Of Labor Exemption Final Approval Date | ' | '2014-07 | ' | ' | ' | ' | ' |
Pension_And_Postretirement_Ben3
Pension And Postretirement Benefits (Pension And Postretirement Benefit Costs Included In Operating Expenses) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Net (credit) cost | ($33) | $130 | ($98) | $391 |
Pension Benefit Cost [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 282 | 331 | 846 | 991 |
Interest cost on benefit obligation | 661 | 608 | 1,984 | 1,822 |
Expected return on assets | -849 | -828 | -2,549 | -2,484 |
Amortization of prior service (credit) | -24 | -25 | -71 | -71 |
Net (credit) cost | 70 | 86 | 210 | 258 |
Postretirement Benefit Cost [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 59 | 95 | 175 | 286 |
Interest cost on benefit obligation | 365 | 389 | 1,094 | 1,168 |
Expected return on assets | -165 | -177 | -491 | -533 |
Amortization of prior service (credit) | -362 | -263 | -1,086 | -788 |
Net (credit) cost | ($103) | $44 | ($308) | $133 |
Fair_Value_Measurements_And_Di3
Fair Value Measurements And Disclosure (Narrative) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ' | ' |
Fixed income investments - maturities less than 1 year | $91 | ' |
Fixed income investments - maturities within 1 to 3 years | 277 | ' |
Fixed income investments - maturities within 3 to 5 years | 292 | ' |
Fixed income investments - maturities for 5 or more years | 253 | ' |
Anticipated reclassification of holding losses during the next 12 months - cash flow hedges | 42 | ' |
Collateral received from counterparty | 1,396 | 1,600 |
Collateral submitted to counterparty | 58 | 8 |
Collateral contingently payable to the counterparty | 71 | ' |
Short-term investments | $1,890 | ' |
Fair_Value_Measurements_And_Di4
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Carrying Amount [Member] | ' | ' |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ' | ' |
Notes and debentures | $75,226 | $74,484 |
Commercial paper | 0 | 20 |
Bank borrowings | 5 | 1 |
Investment securities | 2,643 | 2,450 |
Fair Value [Member] | ' | ' |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ' | ' |
Commercial paper | 0 | 20 |
Bank borrowings | 5 | 1 |
Investment securities | 2,643 | 2,450 |
Fair Value [Member] | Level 2 [Member] | ' | ' |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ' | ' |
Notes and debentures | $82,938 | $79,309 |
Fair_Value_Measurements_And_Di5
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Interest Rate Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | $131 | $191 |
Liability Derivatives (at fair value) | -10 | -7 |
Cross-Currency Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 1,536 | 1,951 |
Liability Derivatives (at fair value) | -901 | -519 |
Domestic Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 1,108 | 1,049 |
International Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 541 | 563 |
Fixed Income Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 913 | 759 |
Level 1 [Member] | Interest Rate Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 1 [Member] | Cross-Currency Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 1 [Member] | Domestic Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 1,108 | 1,049 |
Level 1 [Member] | International Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 541 | 563 |
Level 1 [Member] | Fixed Income Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 2 [Member] | Interest Rate Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 131 | 191 |
Liability Derivatives (at fair value) | -10 | -7 |
Level 2 [Member] | Cross-Currency Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 1,536 | 1,951 |
Liability Derivatives (at fair value) | -901 | -519 |
Level 2 [Member] | Domestic Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 2 [Member] | International Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 2 [Member] | Fixed Income Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 913 | 759 |
Level 3 [Member] | Interest Rate Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 3 [Member] | Cross-Currency Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 3 [Member] | Domestic Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 3 [Member] | International Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 3 [Member] | Fixed Income Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | $0 | $0 |
Fair_Value_Measurements_And_Di6
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Notional Amount of Outstanding Derivative Positions | $27,200 | $22,537 |
Interest Rate Swaps [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount of Outstanding Derivative Positions | 6,550 | 4,750 |
Cross-Currency Swaps [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount of Outstanding Derivative Positions | $20,650 | $17,787 |
Fair_Value_Measurements_And_Di7
Fair Value Measurements And Disclosure (Effect Of Derivatives On The Consolidated Statements Of Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Fair Value Hedging Relationships [Member] | Interest Rate Swaps [Member] | Interest expense [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) on interest rate swaps | ($70) | $9 | ($59) | ($78) |
Gain (Loss) on long-term debt | 70 | -9 | 59 | 78 |
Cash Flow Hedging Relationships [Member] | Cross-Currency Swaps [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) recognized in accumulated OCI | 567 | 482 | 418 | 807 |
Cash Flow Hedging Relationships [Member] | Interest Rate Locks [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Interest income (expense) reclassified from accumulated OCI into income | -11 | -11 | -33 | -34 |
Cash Flow Hedging Relationships [Member] | Foreign Exchange Contracts [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) recognized in accumulated OCI | $0 | $5 | ($2) | $5 |
Acquisitions_Dispositions_And_2
Acquisitions, Dispositions And Other Adjustments (Narrative) (Details) (USD $) | 9 Months Ended | 0 Months Ended | 7 Months Ended | 0 Months Ended | 1 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | |||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 13, 2014 | Jul. 31, 2014 | Mar. 13, 2014 | Mar. 13, 2014 | Mar. 13, 2014 | Mar. 13, 2014 | Mar. 13, 2014 | Oct. 31, 2014 | 31-May-14 | Sep. 30, 2014 | 18-May-15 | Nov. 13, 2015 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | 31-May-14 | Oct. 24, 2014 | Dec. 31, 2013 | Jul. 31, 2014 | Oct. 15, 2014 |
Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Disposition [Member] | Disposition [Member] | Disposition [Member] | Disposition [Member] | Disposition [Member] | Disposition [Member] | |||
Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Pending Approval [Member] | Pending Approval [Member] | Pending Approval [Member] | Pending Approval [Member] | Pending Approval [Member] | Pending Approval [Member] | Pending Approval [Member] | Pending Approval [Member] | Pending Approval [Member] | America Movil [Member] | America Movil [Member] | Connecticut Wireline [Member] | Connecticut Wireline [Member] | Connecticut Wireline [Member] | Connecticut Wireline [Member] | |||
Licenses [Member] | Property, Plant and Equipment [Member] | Customer Lists [Member] | Goodwill [Member] | Trade Names [Member] | DIRECTV [Member] | DIRECTV [Member] | DIRECTV [Member] | DIRECTV [Member] | DIRECTV [Member] | DIRECTV [Member] | DIRECTV [Member] | DIRECTV [Member] | DIRECTV [Member] | Federal Communication Commission [Member] | Connecticut Public Utilities Regulatory Authority [Member] | |||||||||
Initial Period [Member] | Extended Period [Member] | Stock Price Scenario 1 [Member] | Stock Price Scenario 2 [Member] | Stock Price Scenario 2 [Member] | Stock Price Scenario 3 [Member] | |||||||||||||||||||
Minimum [Member] | Maximum [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of assets - anticipated or actual acquisition date | ' | ' | 13-Mar-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of assets - noncash consideration | ' | ' | 'one non-transferable contingent value right per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - end of termination rights period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18-May-15 | 13-Nov-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - purchase price | ' | ' | $1,248 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - purchase price (in US dollars per share) | ' | ' | $15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - preliminary value/amount of assets acquired | ' | ' | ' | ' | 3,000 | 510 | 520 | 744 | 340 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Commitment - Description | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'In October 2014, DIRECTV and the National Football League renewed their agreement for the "NFL Sunday Ticket" service substantially on the terms discussed between AT&T and DIRECTV, satisfying one of the conditions to closing the merger. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Agreement date sale of equity method investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-May-14 | ' | ' | ' | ' |
Debt redeemed or matured during period | -11,494 | -11,716 | ' | 3,889 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposition of asset - agreement period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2013-12 | ' | ' |
Disposal date of subsidiary/assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Jun-14 | ' | 24-Oct-14 | ' | ' | ' |
Total sales price (in U.S. dollars) of the company's investment in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,566 | ' | ' | ' | ' | ' |
Disposition of business - pretax gain recognized from sale of subsidiary/investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,243 | ' | ' | ' | ' | ' |
Dispositions | 6,074 | 846 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,565 | ' | ' | ' | ' | ' |
Disposition of business - estimated cash to be received from sale of subsidiary/investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | ' | ' |
Long-term Debt, Fair Value | ' | ' | 3,889 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Regulatory Approval Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-14 | 15-Oct-14 |
Pendiing Acquisitions Dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - agreement date or period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-May-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - anticipated or actual acquisition period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'first half of 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - acquired entity's stockholder approval date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - purchase price (in US dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $95 | $28.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - sellers debt, net of cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16,852 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - noncash consideration to be given | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1.905 shares of AT&T stock per share of DIRECTV | '1.724 shares of AT&T stock per share of DIRECTV | '1.905 shares of AT&T stock per share of DIRECTV | '1.724 shares of AT&T stock per share of DIRECTV | ' | ' | ' | ' | ' | ' |
Acquisition of business - value of noncash consideration to be given (in US dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $66.50 | ' | ' | $34.90 | $34.90 | $38.58 | $38.58 | ' | ' | ' | ' | ' | ' |
Acquisitions_Dispositions_And_3
Acquisitions, Dispositions And Other Adjustments (Operating Results Of Discontinued Operation) (Details) (Connecticut Wireline [Member], Disposition [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Connecticut Wireline [Member] | Disposition [Member] | ' | ' |
Assets Held For Sale: | ' | ' |
Current assets | $138 | $155 |
Property, plant and equipment - net | 1,436 | 1,289 |
Goodwill | 799 | 799 |
Other assets | 18 | 17 |
Total assets | 2,391 | 2,260 |
Liabilities related to assets held for sale: | ' | ' |
Current liabilities | 122 | 128 |
Noncurrent liabilities | 537 | 480 |
Total liabilities | $659 | $608 |
Recovered_Sheet2
Sale Of Equipment Installment Receivables (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Jun. 27, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
Deferred Purchase Price [Member] | ' | ' | ' |
Changes In Other Assets [Line Items] | ' | ' | ' |
Deferred purchase price recorded from sale of receivables | ' | ' | $901 |
Finance Receivables [Member] | ' | ' | ' |
Changes In Other Assets [Line Items] | ' | ' | ' |
Equipment installment sales - maximum installment period (in months) | ' | ' | '0 years 24 months 0 days |
Total equipment installment receivable included on our consolidated balance sheets (in millions) | ' | 3,002 | 3,002 |
Agreement Date - Sale of Equipment Installment Receivables | 27-Jun-14 | ' | ' |
Maximum amount expected to be funded at any given time (in millions) | 2,000 | ' | ' |
Receivables sold during period (in millions) | ' | 1,028 | 2,665 |
Finance Receivables [Member] | Notes Receivable [Member] | ' | ' | ' |
Changes In Other Assets [Line Items] | ' | ' | ' |
Total equipment installment receivable included on our consolidated balance sheets (in millions) | ' | 1,861 | 1,861 |
Finance Receivables, Net [Member] | ' | ' | ' |
Changes In Other Assets [Line Items] | ' | ' | ' |
Receivables sold during period (in millions) | ' | 885 | 2,276 |
Cash proceeds from sale of receivables | ' | 556 | 1,375 |
Deferred purchase price recorded from sale of receivables | ' | $324 | $889 |
Recovered_Sheet3
Sale Of Equipment Installment Receivables (Finance Receivables) (Finance Receivables Net [Member], USD $) | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 |
Finance Receivables Net [Member] | ' | ' |
Changes In Other Assets [Line Items] | ' | ' |
Net receivables sold | $885 | $2,276 |
Cash proceeds received | 556 | 1,375 |
Deferred purchase price recorded | $324 | $889 |