Document And Entity Information
Document And Entity Information - shares shares in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jul. 31, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Document Period End Date | Jun. 30, 2015 | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 732,717 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Registrant Name | AT&T Inc. | |
Entity Common Stock, Shares Outstanding | 6,151 | |
Entity Trading Symbol | T |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Revenues | ||||
Service | $ 29,541 | $ 29,556 | $ 58,503 | $ 59,332 |
Equipment | 3,474 | 3,019 | 7,088 | 5,719 |
Total operating revenues | 33,015 | 32,575 | 65,591 | 65,051 |
Operating Expenses | ||||
Cost of services and sales (exclusive of depreciation and amortization shown separately below) | 15,140 | 14,212 | 29,721 | 27,533 |
Selling, general and administrative | 7,467 | 8,197 | 15,428 | 16,457 |
Depreciation and amortization | 4,696 | 4,550 | 9,274 | 9,167 |
Total operating expenses | 27,303 | 26,959 | 54,423 | 53,157 |
Operating Income | 5,712 | 5,616 | 11,168 | 11,894 |
Other Income (Expense) | ||||
Interest expense | (932) | (881) | (1,831) | (1,741) |
Equity in net income (loss) of affiliates | 33 | 102 | 33 | 190 |
Other income (expense) - net | 48 | 1,269 | 118 | 1,414 |
Total other income (expense) | (851) | 490 | (1,680) | (137) |
Income Before Income Taxes | 4,861 | 6,106 | 9,488 | 11,757 |
Income tax expense | 1,715 | 2,485 | 3,066 | 4,402 |
Net Income | 3,146 | 3,621 | 6,422 | 7,355 |
Less: Net Income Attributable to Noncontrolling Interest | (102) | (74) | (178) | (156) |
Net Income Attributable to AT&T | $ 3,044 | $ 3,547 | $ 6,244 | $ 7,199 |
Basic Earnings Per Share Attributable to AT&T | $ 0.58 | $ 0.68 | $ 1.20 | $ 1.38 |
Diluted Earnings Per Share Attributable to AT&T | $ 0.58 | $ 0.68 | $ 1.20 | $ 1.38 |
Weighted Average Number of Common Shares Outstanding - Basic (in millions) | 5,204 | 5,204 | 5,204 | 5,213 |
Weighted Average Number of Common Shares Outstanding - with Dilution (in millions) | 5,220 | 5,220 | 5,220 | 5,229 |
Dividends Declared Per Common Share | $ 0.47 | $ 0.46 | $ 0.94 | $ 0.92 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||||
Net income | $ 3,146 | $ 3,621 | $ 6,422 | $ 7,355 |
Foreign currency: | ||||
Translation adjustment (includes $0, $1, $0 and $1 attributable to noncontrolling interest), net of taxes of $1, $15, $(103) and $5 | 1 | 26 | (185) | 6 |
Reclassification adjustment included in net income, net of taxes of $0, $210, $0 and $224 | 0 | 391 | 0 | 416 |
Available-for-sale securities: | ||||
Net unrealized gains, net of taxes of $0, $24, $19 and $34 | 0 | 43 | 34 | 59 |
Reclassification adjustment realized in net income, net of taxes of $(2), $(1), $(5) and $(8) | (4) | (3) | (9) | (14) |
Cash flow hedges: | ||||
Net unrealized gains (losses), net of taxes of $(52), $(56), $(242) and $(53) | (95) | (104) | (449) | (98) |
Reclassification adjustment included in net income, net of taxes of $5, $7, $9 and $11 | 10 | 14 | 17 | 21 |
Defined benefit postretirement plans: | ||||
Amortization of net prior service credit included in net income, net of taxes of $(131), $(142), $(262) and $(289) | (214) | (239) | (429) | (479) |
Reclassification adjustment included in net income, net of taxes $0, $31, $0 and $33 | 0 | 58 | 0 | 61 |
Other comprehensive income (loss) | (302) | 186 | (1,021) | (28) |
Total comprehensive income | 2,844 | 3,807 | 5,401 | 7,327 |
Less: Total comprehensive income attributable to noncontrolling interest | (102) | (75) | (178) | (157) |
Total Comprehensive Income Attributable to AT&T | $ 2,742 | $ 3,732 | $ 5,223 | $ 7,170 |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||||
Foreign currency translation adjustments, attributable to noncontrolling interest, net of taxes | $ 0 | $ 1 | $ 0 | $ 1 |
Foreign currency translation adjustments, tax effect | 1 | 15 | (103) | 5 |
Foreign currency translation adjustment reclassification - tax effect | 0 | 210 | 0 | 224 |
Unrealized gains (losses) on available-for-sale securities - tax | 0 | 24 | 19 | 34 |
Reclassification adjustment included in net income on available-for-sale securities - tax effect | (2) | (1) | (5) | (8) |
Unrealized gains (losses) on cash flow hedges - tax | (52) | (56) | (242) | (53) |
Reclassification adjustment included in net income on cash flow hedges - tax effect | 5 | 7 | 9 | 11 |
Amortization of net prior service credit included in net income, tax effect | (131) | (142) | (262) | (289) |
Reclassification adjustment in net income on defined benefit postretirement plans - tax effect | $ 0 | $ 31 | $ 0 | $ 33 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Current Assets | ||
Cash and cash equivalents | $ 20,956 | $ 8,603 |
Accounts receivable - net of allowances for doubtful accounts of $492 and $454 | 13,821 | 14,527 |
Prepaid expenses | 834 | 831 |
Deferred income taxes | 1,131 | 1,142 |
Other current assets | 6,421 | 6,925 |
Total current assets | 43,163 | 32,028 |
Property, plant and equipment | 289,856 | 282,295 |
Less: accumulated depreciation and amortization | (175,508) | (169,397) |
Property, Plant and Equipment - Net | 114,348 | 112,898 |
Goodwill | 70,920 | 69,692 |
Licenses | 80,922 | 60,824 |
Other Intangible Assets - Net | 6,385 | 6,139 |
Investments in Equity Affiliates | 288 | 250 |
Other Assets | 10,463 | 10,998 |
Total Assets | 326,489 | 292,829 |
Current Liabilities | ||
Debt maturing within one year | 8,603 | 6,056 |
Accounts payable and accrued liabilities | 21,560 | 23,592 |
Advanced billing and customer deposits | 4,075 | 4,105 |
Accrued taxes | 3,848 | 1,091 |
Dividends payable | 2,441 | 2,438 |
Total current liabilities | 40,527 | 37,282 |
Long-Term Debt | 105,067 | 76,011 |
Deferred Credits and Other Noncurrent Liabilities | ||
Deferred income taxes | 38,516 | 37,544 |
Postemployment benefit obligation | 36,638 | 37,079 |
Other noncurrent liabilities | 18,240 | 17,989 |
Total deferred credits and other noncurrent liabilities | 93,394 | 92,612 |
Stockholders' Equity | ||
Common stock ($1 par value, 14,000,000,000 authorized at June 30, 2015 and December 31, 2014: issued 6,495,231,088 at June 30, 2015 and December 31, 2014) | 6,495 | 6,495 |
Additional paid-in capital | 91,032 | 91,108 |
Retained earnings | 29,086 | 27,736 |
Treasury stock (1,301,916,280 at June 30, 2015 and 1,308,318,131 at December 31, 2014, at cost) | (46,793) | (47,029) |
Accumulated other comprehensive income | 7,039 | 8,060 |
Noncontrolling interest | 642 | 554 |
Total stockholders' equity | 87,501 | 86,924 |
Total Liabilities and Stockholders' Equity | $ 326,489 | $ 292,829 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Consolidated Balance Sheets (Unaudited) | ||
Allowances for doubtful accounts | $ 492 | $ 454 |
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 | 1,301,916,280 | 1,308,318,131 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Activities | ||
Net income | $ 6,422 | $ 7,355 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 9,274 | 9,167 |
Undistributed earnings from investments in equity affiliates | (23) | (58) |
Provision for uncollectible accounts | 535 | 444 |
Deferred income tax expense | 1,183 | 546 |
Net gain from sale of investments, net of impairments | (50) | (1,365) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 434 | (566) |
Other current assets | 743 | (771) |
Accounts payable and accrued liabilities | (1,125) | 2,894 |
Retirement benefit funding | (455) | (280) |
Other - net | (1,040) | (497) |
Total adjustments | 9,476 | 9,514 |
Net Cash Provided by Operating Activities | 15,898 | 16,869 |
Investing Activities | ||
Capital expenditures | (8,328) | (11,649) |
Interest during construction | (339) | (118) |
Acquisitions, net of cash acquired | (20,954) | (857) |
Dispositions | 72 | 4,921 |
Sale of securities | 1,890 | 0 |
Return of advances to and investments in equity affiliates | 0 | 2 |
Other | (1) | 0 |
Net Cash Used in Investing Activities | (27,660) | (7,701) |
Financing Activities | ||
Net change in short-term borrowings with original maturities of three months or less | 0 | 134 |
Issuance of long-term debt | 33,958 | 8,564 |
Repayment of long-term debt | (2,919) | (3,508) |
Purchase of treasury stock | 0 | (1,396) |
Issuance of treasury stock | 20 | 27 |
Dividends paid | (4,873) | (4,784) |
Other | (2,071) | (239) |
Net Cash Provided by (Used in) Financing Activities | 24,115 | (1,202) |
Net increase in cash and cash equivalents | 12,353 | 7,966 |
Cash and cash equivalents beginning of year | 8,603 | 3,339 |
Cash and Cash Equivalents End of Period | 20,956 | 11,305 |
Cash paid (received) during the six months ended June 30 for: | ||
Interest | 2,178 | 2,292 |
Income taxes, net of refunds | $ (71) | $ 987 |
Consolidated Statement Of Chang
Consolidated Statement Of Changes In Stockholders' Equity - 6 months ended Jun. 30, 2015 - USD ($) shares in Millions, $ in Millions | 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] |
Balance at beginning of year at Dec. 31, 2014 | $ 86,924 | $ 6,495 | $ 91,108 | $ 27,736 | $ (47,029) | $ 8,060 | $ 554 |
Balance at beginning of year (in shares) at Dec. 31, 2014 | 6,495 | (1,308) | |||||
Issuance of stock | $ 0 | ||||||
Issuance of stock (in shares) | 0 | ||||||
Repurchase of common stock | $ (10) | ||||||
Repurchase of common stock (in shares) | (1) | ||||||
Issuance of treasury stock | 8 | $ 246 | |||||
Issuance of treasury stock, (in shares) | 7 | ||||||
Share-based payments | (84) | ||||||
Net income attributable to AT&T ($1.20 per diluted share) | 6,244 | 6,244 | |||||
Dividends to stockholders ($0.94 per share) | (4,894) | ||||||
Other comprehensive income attributable to AT&T | (1,021) | (1,021) | |||||
Net income attributable to noncontrolling interest | 178 | 178 | |||||
Distributions | (119) | ||||||
Acquisitions of noncontrolling interests | 29 | ||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 0 | ||||||
Balance at end of period at Jun. 30, 2015 | $ 87,501 | $ 6,495 | $ 91,032 | $ 29,086 | $ (46,793) | $ 7,039 | $ 642 |
Balance at end of period (in shares) at Jun. 30, 2015 | 6,495 | (1,302) |
Consolidated Statement Of Chan9
Consolidated Statement Of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) | ||||
Net income attributable to AT&T, per diluted share | $ 0.58 | $ 0.68 | $ 1.20 | $ 1.38 |
Dividends to stockholders, per share | $ 0.47 | $ 0.46 | $ 0.94 | $ 0.92 |
Preparation Of Interim Financia
Preparation Of Interim Financial Statements | 6 Months Ended |
Jun. 30, 2015 | |
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, 2014. 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. 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 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. 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. New Accounting Standards Revenue Recognition 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. ASU 2014-09 becomes effective for annual reporting periods b eginning after December 15, 2017, following the July 2015 approval of a one-year deferral of the effective date by the FASB . We continue to evaluate the impact of the new standard and available adoption methods. Long-Term Debt and Debt Issuance Costs In April 2015, the FASB issued ASU No. 2015-03, “Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03), which will result in the reclassification of debt issuance costs from “Other Assets” to inclusion as a red uction of our reportable “Long-T erm Debt” balance on our consolidated balance sheets. ASU 2015-03 becomes effective January 1, 2016, subject to early adoption, and will require full retrospective application. We do not expect this new standard to have a material impact on our consolidated balance sheets. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share | |
Earnings Per Share | NOTE 2. EARNINGS PER SHARE A reconciliation of the numerators and denominators of basic and diluted earnings per share for the three and six months ended June 30, 2015 and 2014 , is shown in the table below: Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Numerators Numerator for basic earnings per share: Net Income $ 3,146 $ 3,621 $ 6,422 $ 7,355 Less: Net income attributable to noncontrolling interest (102) (74) (178) (156) Net Income attributable to AT&T 3,044 3,547 6,244 7,199 Dilutive potential common shares: Share-based payment 2 3 6 7 Numerator for diluted earnings per share $ 3,046 $ 3,550 $ 6,250 $ 7,206 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 5,204 5,204 5,204 5,213 Dilutive potential common shares: Share-based payment (in shares) 16 16 16 16 Denominator for diluted earnings per share 5,220 5,220 5,220 5,229 Basic earnings per share attributable to AT&T $ 0.58 $ 0.68 $ 1.20 $ 1.38 Diluted earnings per share attributable to AT&T $ 0.58 $ 0.68 $ 1.20 $ 1.38 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2015 | |
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) are presented below. All amounts are net of tax and exclude noncontrolling interest. At June 30, 2015 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, 2014 $ (26) $ 498 $ 741 $ 6,847 $ 8,060 Other comprehensive income (loss) before reclassifications (185) 34 (449) - (600) Amounts reclassified from accumulated OCI - 1 (9) 2 17 3 (429) 4 (421) Net other comprehensive income (loss) (185) 25 (432) (429) (1,021) Balance as of June 30, 2015 $ (211) $ 523 $ 309 $ 6,418 $ 7,039 At June 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 5 59 (98) - (34) Amounts reclassified from accumulated OCI 416 1 (14) 2 21 3 (418) 4 5 Net other comprehensive income (loss) 421 45 (77) (418) (29) Balance as of June 30, 2014 $ 54 $ 495 $ 368 $ 6,934 $ 7,851 1 Translation (gain) loss reclassifications are included in Other income (expense) - net in the consolidated statements of income. 2 (Gains) losses 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 | 6 Months Ended |
Jun. 30, 2015 | |
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/or in different geographies that 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 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 three reportable segments: (1) Wireless, (2) Wireline and (3) International. The Wireless segment uses our nationwide network to provide consumer and business customers with wireless data and voice communications services. 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 International segment uses the Iusacell , Unefon , and Nextel Mexico regional and national networks to provide consumer and business customers with wireless data and voice communication services in Mexico. Results from the equity method investment in América Móvil S.A. de C.V. (prior to the June 2014 disposal of our investment) are included in this segment. The Corporate and Other column includes unallocated corporate expenses, which includes costs to support corporate-driven activities and operations, and 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 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. For the three months ended June 30, 2015 Consolidated Results Wireless Wireline International Corporate and Other Service $ 15,115 $ 13,981 $ 445 $ - $ 29,541 Equipment 3,189 233 46 6 3,474 Total segment operating revenues 18,304 14,214 491 6 33,015 Operations and support expenses 11,551 10,362 529 165 22,607 Depreciation and amortization expenses 2,073 2,488 125 10 4,696 Total segment operating expenses 13,624 12,850 654 175 27,303 Segment operating income (loss) 4,680 1,364 (163) (169) 5,712 Interest expense - - - 932 932 Equity in net income of affiliates - 1 - 32 33 Other income (expense) – net - - - 48 48 Segment income (loss) before income taxes $ 4,680 $ 1,365 $ (163) $ (1,021) $ 4,861 For the six months ended June 30, 2015 Consolidated Results Wireless Wireline International Corporate and Other Service $ 29,927 $ 27,916 $ 660 $ - $ 58,503 Equipment 6,563 446 67 12 7,088 Total segment operating revenues 36,490 28,362 727 12 65,591 Operations and support expenses 23,232 20,625 748 544 45,149 Depreciation and amortization expenses 4,131 4,964 169 10 9,274 Total segment operating expenses 27,363 25,589 917 554 54,423 Segment operating income (loss) 9,127 2,773 (190) (542) 11,168 Interest expense - - - 1,831 1,831 Equity in net income (loss) of affiliates (4) (6) - 43 33 Other income (expense) – net - - - 118 118 Segment income (loss) before income taxes $ 9,123 $ 2,767 $ (190) $ (2,212) $ 9,488 For the three months ended June 30, 2014 Consolidated Results Wireless Wireline International Corporate and Other Service $ 15,148 $ 14,408 $ - $ - $ 29,556 Equipment 2,782 229 - 8 3,019 Total segment operating revenues 17,930 14,637 - 8 32,575 Operations and support expenses 11,568 10,700 - 141 22,409 Depreciation and amortization expenses 2,035 2,514 - 1 4,550 Total segment operating expenses 13,603 13,214 - 142 26,959 Segment operating income (loss) 4,327 1,423 - (134) 5,616 Interest expense - - - 881 881 Equity in net income (loss) of affiliates (29) - 99 32 102 Other income (expense) – net - - - 1,269 1,269 Segment income before income taxes $ 4,298 $ 1,423 $ 99 $ 286 $ 6,106 For the six months ended June 30, 2014 Consolidated Results Wireless Wireline International Corporate and Other Service $ 30,535 $ 28,797 $ - $ - $ 59,332 Equipment 5,261 441 - 17 5,719 Total segment operating revenues 35,796 29,238 - 17 65,051 Operations and support expenses 22,450 21,157 - 383 43,990 Depreciation and amortization expenses 3,966 5,198 - 3 9,167 Total segment operating expenses 26,416 26,355 - 386 53,157 Segment operating income (loss) 9,380 2,883 - (369) 11,894 Interest expense - - - 1,741 1,741 Equity in net income (loss) of affiliates (49) 1 153 85 190 Other income (expense) – net - - - 1,414 1,414 Segment income (loss) before income taxes $ 9,331 $ 2,884 $ 153 $ (611) $ 11,757 |
Pension And Postretirement Bene
Pension And Postretirement Benefits | 6 Months Ended |
Jun. 30, 2015 | |
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. 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 provide benefits described in the plans to employees upon their retirement. In December 2014, we offered an opportunity for certain management employees who were retirement eligible as of March 31, 2015 to elect an enhanced, full lump sum payment option of their accrued pension if they retired on or before March 31, 2015. The lump sum value totaled approximately $1,200 which will be distributed in 2015. We recorded special termination benefits of approximately $150 as a result of this offer. In 2013, we made a voluntary contribution of a preferred equity interest in AT&T Mobility II LLC, the primary holding company for our domestic wireless business, to the trust used to pay pension benefits under our qualified pension plans. The preferred equity interest had a value of $ 8,896 at June 30, 2015. The trust is entitled to receive cumulative cash distributions of $560 per annum, which are distributed quarterly in equal amounts and accounted for as contributions. We distributed $280 to the trust during the six months ended June 30, 2015. So long as we make the distributions, we will have 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 also agreed to make a cash contribution to the trust of $175 no later than the due date of our federal income tax return for 2014. This contribution was made in June 2015. 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 Six months ended June 30, June 30, 2015 2014 2015 2014 Pension cost: Service cost – benefits earned during the period $ 300 $ 282 $ 599 $ 564 Interest cost on projected benefit obligation 473 662 947 1,323 Expected return on assets (826) (851) (1,652) (1,700) Amortization of prior service credit (26) (23) (52) (47) Net pension (credit) cost $ (79) $ 70 $ (158) $ 140 Postretirement cost: Service cost – benefits earned during the period $ 56 $ 58 $ 111 $ 116 Interest cost on accumulated postretirement benefit obligation 241 364 483 729 Expected return on assets (105) (162) (210) (326) Amortization of prior service credit (319) (362) (639) (724) Net postretirement (credit) cost $ (127) $ (102) $ (255) $ (205) Combined net pension and postretirement (credit) cost $ (206) $ (32) $ (413) $ (65) Our combined net pension and postretirement cost decreased $ 174 in the second quarter and $ 348 for the first six months of 2015 . The decrease is primarily due to the change in the method used to estimate the service and interest components of net periodic benefit cost for pension and other postretirement benefits. While this change in estimate , which was made in the fourth quarter of 2014, provides a more precise measurement of interim service and interest costs, it will not affect the measurement of our total benefit obligations as of December 31 or our annual net periodic benefit cost as the change in the service and interest costs is completely offset in the actuarial gain or loss reported. The decrease from this change was partially offset by lower amortization of prior service credits as previous postretirement plan changes have become fully amortized, our lower expected long-term rate of return on our postretirement plan assets an d updated assumed mortality rates. 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 $ 21 in the second quarter of 2015 , of which $ 18 was interest cost, and $ 41 for the first six months , of which $ 37 was interest cost. In 2014 , net supplemental retirement pension benefits cost was $ 29 in the second quarter, of which $ 28 was interest cost, and $ 58 for the first six months , of which $ 55 was interest cost. |
Fair Value Measurements And Dis
Fair Value Measurements And Disclosure | 6 Months Ended |
Jun. 30, 2015 | |
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 measurement s 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, 2014 . 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: June 30, 2015 December 31, 2014 Carrying Fair Carrying Fair Amount Value Amount Value Notes and debentures $ 113,167 $ 116,669 $ 81,632 $ 90,367 Bank borrowings 5 5 5 5 Investment securities 2,758 2,758 2,735 2,735 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 June 30, 2015 and December 31, 2014 : June 30, 2015 Level 1 Level 2 Level 3 Total Available-for-Sale Securities Domestic equities $ 1,165 $ - $ - $ 1,165 International equities 614 - - 614 Fixed income bonds - 778 - 778 Asset Derivatives 1 Interest rate swaps - 170 - 170 Cross-currency swaps - 1,280 - 1,280 Liability Derivatives 1 Cross-currency swaps - (2,568) - (2,568) December 31, 2014 Level 1 Level 2 Level 3 Total Available-for-Sale Securities Domestic equities $ 1,160 $ - $ - $ 1,160 International equities 553 - - 553 Fixed income bonds - 836 - 836 Asset Derivatives 1 Interest rate swaps - 157 - 157 Cross-currency swaps - 1,243 - 1,243 Interest rate locks - 5 - 5 Liability Derivatives 1 Cross-currency swaps - (1,506) - (1,506) Interest rate locks - (133) - (133) 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" in our consolidated balance sheets. 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 $ 93 have maturities of less than one year, $ 392 within one to three years, $ 63 within three to five years, and $ 230 for five or more years. Our cash equivalents (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. Short-term investment s are recorded in “Other current a ssets” 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 six months ended June 30, 2015 and June 30, 2014 , 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 , Canadian dollar and Swiss Franc 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 or floating 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 six months ended June 30, 2015 and June 30, 2014 , 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 $ 61 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 . 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 “O ther income (expense) – net” in the consolidated statements of income. In the six months ended June 30, 2015 and June 30, 2014 , 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 June 30, 2015 , we had posted collateral of $1,544 (a deposit asset) and held collateral of $396 (a receipt liability) . Under the agreements, if our credit rating had been downgraded one rating level by Fitch Rating s , before the final collateral exchange in June , we would have been required to post additional collateral of $ 69 . At December 31, 2014 , we had posted collateral of $530 (a deposit asset) and held collateral of $599 (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: June 30, December 31, 2015 2014 Interest rate swaps $ 8,050 $ 6,550 Cross-currency swaps 27,375 26,505 Interest rate locks - 6,750 Total $ 35,425 $ 39,805 Following are 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 Six months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (30) $ 22 $ 11 $ 11 Gain (Loss) on long-term debt 30 (22) (11) (11) In addition, the net swap settlements that accrued and settled in the quarter ended June 30 were included in interest expense. Cash Flow Hedging Relationships Three months ended Six months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (102) $ (160) $ (330) $ (149) Interest rate locks: Gain (Loss) recognized in accumulated OCI (45) - (361) - Interest income (expense) reclassified from accumulated OCI into income (15) (11) (26) (22) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI - - - (2) |
Acquisitions, Dispositions And
Acquisitions, Dispositions And Other Adjustments | 6 Months Ended |
Jun. 30, 2015 | |
Acquisitions, Dispositions And Other Adjustments | |
Acquisitions, Dispositions And Other Adjustments | NOTE 7. ACQUISITIONS , DISPOSITIONS AND OTHER ADJUSTMENTS Acquisitions Nextel Mexico On April 30, 2015, we completed our acquisition of the subsidiaries of NII Holdings Inc., operating its wireless business in Mexico, for $ 1,875, less approximately $427 of net debt and other adjustments. The subsidiaries offer service under the name Nextel Mexico. The preliminary values of assets acquired were: $ 338 in licenses, $ 1,2 06 in property, plant and equipment, $ 157 in customer lists and $ 363 of goodwill. GSF Telecom On January 16, 2015, we acquired Mexican wireless company GSF Telecom Holdings, S.A.P.I. de C.V. (GSF Telecom) for $ 2,500, less net debt of approximately $700 . GSF Telecom offers service under both the Iusacell and Unefon brand names in Mexico. The preliminary values of assets acquired were: $ 865 in licenses, $ 9 52 in property, plant and equipment, $ 308 in customer lists, $ 26 in trade names and $ 919 of goodwill. AWS-3 Auction In January 2015, we submitted winning bids for 251 Advanced Wireless Service (AWS) spectrum licenses in the AWS-3 Auction (FCC Auction 97) for $18,189. We provided the Federal Communications Commission (FCC) an initial down payment of $921 in October 2014 and paid the remaining $17,268 in the first quarter of 2015. The interest associated with this acquisition will be excluded from interest expense and capitalized until this spectrum is ready for its intended use. Subsequent Acquisition DIRECTV On July 24 , 2015, we completed our acquisition of DIRECTV, a leading provider of digital television entertainment services in both the United States and Latin America. The acquisition represents an opportunity for us to acquire a unique and complementary set of assets and achieve substantial cost synergies over time, as well as increasing revenue from pay television in Latin America . Our distribution scale will enable us to offer consumers bundles including video, high-speed broadband and mobile services, using all the sales channels of both companies. We believe the combined company will be a content distribution leader across mobile, video and broadband platforms. Under the merger agreement, each share of DIRECTV stock was exchanged for $28.50 cash plus 1. 892 shares of our common stock. We issued a final total of 954,5 18 , 588 shares to DIRECTV shareholde rs, giving them an approximate 16 % stake in the combined company, based on common shares outstanding. Based on our $ 34.29 per share closing stock price on July 24 , 2015, total consideration paid to DIRECTV shareholders was $ 47 , 110 , including $ 32 , 731 of AT&T stock and $ 14 , 379 in cash. DIRECTV had approximately $ 1 5 , 891 in net debt at acquisition . Our third-quarter 2015 operating results will include the results from DIRECTV following the date of acquisition. Our consolidated balance sheet will include the assets and liabilities of DIRECTV, which are being appraised by a third-party and include various assumptions in determining fair value. Issues that are more unique in this acquisition include the valuation of satellite orbital slots and foreign exchange rates in valuing foreign operations, including those in Venezuela. With this acquisition, we also expect to change our accounting for custome r set-up and installation costs, having already discussed this change with the Sec urities and Exchange Commission. AT&T's historical results will be revised to reflect the retrospective application of this accounting change . We are also considering the implications of our new management structure and organizational responsibilities on our operating segments . |
Sale of Equipment Installment R
Sale of Equipment Installment Receivables | 6 Months Ended |
Jun. 30, 2015 | |
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 30 months, with the right to trade in the original equipment for a new device within a set period and have the remaining unpaid balance satisfied. As of June 30, 2015 and December 31, 2014, gross equipment installment receivables of $ 3,92 9 and $4,265 were included on our consolidated balance sheets, of which $ 2,348 and $2,514 are notes receivable that are included in “Accounts receivable, net.” On June 27, 2014, we entered into the first of a series of 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). Under these agreements, we transferred the receivables to the Purchasers for cash and additional consideration upon settlement of the receivables. Under the terms of the arrangements, we continue to bill and collect on behalf of our customers for the receivables sold. To date, we have collected and remitted approximately $ 2,263 (net of fees), of which $ 254 was returned as deferred purchase price. The following table sets forth a summary of equipment installment receivables sold during the three months and six months ended June 30 , 2015 and 2014 : Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Gross receivables sold $ 1,728 $ 1,637 $ 4,363 $ 1,637 Net receivables sold 1 1,555 1,391 3,936 1,391 Cash proceeds received 1,049 819 2,573 819 Deferred purchase price recorded 505 565 1,363 565 1 Receivables net of 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 device trade-ins, and is subsequently carried at the lower of cost or net realizable value. The estimated value of the device trade-ins considers prices offered to us by independent third parties that contemplate changes in value after the launch of a device model. The fair value measurements used are considered Level 3 under the Fair Value Measurement and Disclosure framework (see Note 6). At June 30, 2015, our deferred purchase price receivable was $2,857, of which $1,677 is included in “Other current assets” on our consolidated balance sheets, with the remainder in “Other Assets.” At December 31, 2014, our deferred purchase price receivable was $1,606, which is included in “Other Assets.” Our maximum exposure to loss as a result of selling these equipment installment receivables is limited to the amount of our deferred purchase price at any point in time. The sales of equipment installment receivables 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 Financ18
Preparation Of Interim Financial Statements (Policy) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
New Accounting Standards | New Accounting Standards Revenue Recognition 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. ASU 2014-09 becomes effective for annual reporting periods b eginning after December 15, 2017, following the July 2015 approval of a one-year deferral of the effective date by the FASB . We continue to evaluate the impact of the new standard and available adoption methods. Long-Term Debt and Debt Issuance Costs In April 2015, the FASB issued ASU No. 2015-03, “Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03), which will result in the reclassification of debt issuance costs from “Other Assets” to inclusion as a red uction of our reportable “Long-T erm Debt” balance on our consolidated balance sheets. ASU 2015-03 becomes effective January 1, 2016, subject to early adoption, and will require full retrospective application. We do not expect this new standard to have a material impact on our consolidated balance sheets. |
Fair Value Measurements And D19
Fair Value Measurements And Disclosure (Policy) | 6 Months Ended |
Jun. 30, 2015 | |
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) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share | |
Reconciliation Of The Numerators And Denominators Of Basic Earnings Per Share And Diluted Earnings Per Share | Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Numerators Numerator for basic earnings per share: Net Income $ 3,146 $ 3,621 $ 6,422 $ 7,355 Less: Net income attributable to noncontrolling interest (102) (74) (178) (156) Net Income attributable to AT&T 3,044 3,547 6,244 7,199 Dilutive potential common shares: Share-based payment 2 3 6 7 Numerator for diluted earnings per share $ 3,046 $ 3,550 $ 6,250 $ 7,206 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 5,204 5,204 5,204 5,213 Dilutive potential common shares: Share-based payment (in shares) 16 16 16 16 Denominator for diluted earnings per share 5,220 5,220 5,220 5,229 Basic earnings per share attributable to AT&T $ 0.58 $ 0.68 $ 1.20 $ 1.38 Diluted earnings per share attributable to AT&T $ 0.58 $ 0.68 $ 1.20 $ 1.38 |
Accumulated Other Comprehensi21
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Income | |
Accumulated Other Comprehensive Income | At June 30, 2015 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, 2014 $ (26) $ 498 $ 741 $ 6,847 $ 8,060 Other comprehensive income (loss) before reclassifications (185) 34 (449) - (600) Amounts reclassified from accumulated OCI - 1 (9) 2 17 3 (429) 4 (421) Net other comprehensive income (loss) (185) 25 (432) (429) (1,021) Balance as of June 30, 2015 $ (211) $ 523 $ 309 $ 6,418 $ 7,039 At June 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 5 59 (98) - (34) Amounts reclassified from accumulated OCI 416 1 (14) 2 21 3 (418) 4 5 Net other comprehensive income (loss) 421 45 (77) (418) (29) Balance as of June 30, 2014 $ 54 $ 495 $ 368 $ 6,934 $ 7,851 1 Translation (gain) loss reclassifications are included in Other income (expense) - net in the consolidated statements of income. 2 (Gains) losses 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) | 6 Months Ended |
Jun. 30, 2015 | |
Segment Information | |
Summary Of Operating Revenues And Expenses By Segment | For the three months ended June 30, 2015 Consolidated Results Wireless Wireline International Corporate and Other Service $ 15,115 $ 13,981 $ 445 $ - $ 29,541 Equipment 3,189 233 46 6 3,474 Total segment operating revenues 18,304 14,214 491 6 33,015 Operations and support expenses 11,551 10,362 529 165 22,607 Depreciation and amortization expenses 2,073 2,488 125 10 4,696 Total segment operating expenses 13,624 12,850 654 175 27,303 Segment operating income (loss) 4,680 1,364 (163) (169) 5,712 Interest expense - - - 932 932 Equity in net income of affiliates - 1 - 32 33 Other income (expense) – net - - - 48 48 Segment income (loss) before income taxes $ 4,680 $ 1,365 $ (163) $ (1,021) $ 4,861 For the six months ended June 30, 2015 Consolidated Results Wireless Wireline International Corporate and Other Service $ 29,927 $ 27,916 $ 660 $ - $ 58,503 Equipment 6,563 446 67 12 7,088 Total segment operating revenues 36,490 28,362 727 12 65,591 Operations and support expenses 23,232 20,625 748 544 45,149 Depreciation and amortization expenses 4,131 4,964 169 10 9,274 Total segment operating expenses 27,363 25,589 917 554 54,423 Segment operating income (loss) 9,127 2,773 (190) (542) 11,168 Interest expense - - - 1,831 1,831 Equity in net income (loss) of affiliates (4) (6) - 43 33 Other income (expense) – net - - - 118 118 Segment income (loss) before income taxes $ 9,123 $ 2,767 $ (190) $ (2,212) $ 9,488 For the three months ended June 30, 2014 Consolidated Results Wireless Wireline International Corporate and Other Service $ 15,148 $ 14,408 $ - $ - $ 29,556 Equipment 2,782 229 - 8 3,019 Total segment operating revenues 17,930 14,637 - 8 32,575 Operations and support expenses 11,568 10,700 - 141 22,409 Depreciation and amortization expenses 2,035 2,514 - 1 4,550 Total segment operating expenses 13,603 13,214 - 142 26,959 Segment operating income (loss) 4,327 1,423 - (134) 5,616 Interest expense - - - 881 881 Equity in net income (loss) of affiliates (29) - 99 32 102 Other income (expense) – net - - - 1,269 1,269 Segment income before income taxes $ 4,298 $ 1,423 $ 99 $ 286 $ 6,106 For the six months ended June 30, 2014 Consolidated Results Wireless Wireline International Corporate and Other Service $ 30,535 $ 28,797 $ - $ - $ 59,332 Equipment 5,261 441 - 17 5,719 Total segment operating revenues 35,796 29,238 - 17 65,051 Operations and support expenses 22,450 21,157 - 383 43,990 Depreciation and amortization expenses 3,966 5,198 - 3 9,167 Total segment operating expenses 26,416 26,355 - 386 53,157 Segment operating income (loss) 9,380 2,883 - (369) 11,894 Interest expense - - - 1,741 1,741 Equity in net income (loss) of affiliates (49) 1 153 85 190 Other income (expense) – net - - - 1,414 1,414 Segment income (loss) before income taxes $ 9,331 $ 2,884 $ 153 $ (611) $ 11,757 |
Pension And Postretirement Be23
Pension And Postretirement Benefits (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Pension And Postretirement Benefits | |
Pension And Postretirement Benefit Costs Included In Operating Expenses | Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Pension cost: Service cost – benefits earned during the period $ 300 $ 282 $ 599 $ 564 Interest cost on projected benefit obligation 473 662 947 1,323 Expected return on assets (826) (851) (1,652) (1,700) Amortization of prior service credit (26) (23) (52) (47) Net pension (credit) cost $ (79) $ 70 $ (158) $ 140 Postretirement cost: Service cost – benefits earned during the period $ 56 $ 58 $ 111 $ 116 Interest cost on accumulated postretirement benefit obligation 241 364 483 729 Expected return on assets (105) (162) (210) (326) Amortization of prior service credit (319) (362) (639) (724) Net postretirement (credit) cost $ (127) $ (102) $ (255) $ (205) Combined net pension and postretirement (credit) cost $ (206) $ (32) $ (413) $ (65) |
Fair Value Measurements And D24
Fair Value Measurements And Disclosure (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Long-Term Debt And Other Financial Instruments | June 30, 2015 December 31, 2014 Carrying Fair Carrying Fair Amount Value Amount Value Notes and debentures $ 113,167 $ 116,669 $ 81,632 $ 90,367 Bank borrowings 5 5 5 5 Investment securities 2,758 2,758 2,735 2,735 |
Fair Value Leveling | June 30, 2015 Level 1 Level 2 Level 3 Total Available-for-Sale Securities Domestic equities $ 1,165 $ - $ - $ 1,165 International equities 614 - - 614 Fixed income bonds - 778 - 778 Asset Derivatives 1 Interest rate swaps - 170 - 170 Cross-currency swaps - 1,280 - 1,280 Liability Derivatives 1 Cross-currency swaps - (2,568) - (2,568) December 31, 2014 Level 1 Level 2 Level 3 Total Available-for-Sale Securities Domestic equities $ 1,160 $ - $ - $ 1,160 International equities 553 - - 553 Fixed income bonds - 836 - 836 Asset Derivatives 1 Interest rate swaps - 157 - 157 Cross-currency swaps - 1,243 - 1,243 Interest rate locks - 5 - 5 Liability Derivatives 1 Cross-currency swaps - (1,506) - (1,506) Interest rate locks - (133) - (133) 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" in our consolidated balance sheets. |
Notional Amount Of Outstanding Derivative Positions | June 30, December 31, 2015 2014 Interest rate swaps $ 8,050 $ 6,550 Cross-currency swaps 27,375 26,505 Interest rate locks - 6,750 Total $ 35,425 $ 39,805 |
Effect Of Derivatives On The Consolidated Statements Of Income | Following are 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 Six months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (30) $ 22 $ 11 $ 11 Gain (Loss) on long-term debt 30 (22) (11) (11) Cash Flow Hedging Relationships Three months ended Six months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (102) $ (160) $ (330) $ (149) Interest rate locks: Gain (Loss) recognized in accumulated OCI (45) - (361) - Interest income (expense) reclassified from accumulated OCI into income (15) (11) (26) (22) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI - - - (2) |
Sale of Equipment Installment25
Sale of Equipment Installment Receivables (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Changes In Other Assets [Abstract] | |
Finance Receivables | Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Gross receivables sold $ 1,728 $ 1,637 $ 4,363 $ 1,637 Net receivables sold 1 1,555 1,391 3,936 1,391 Cash proceeds received 1,049 819 2,573 819 Deferred purchase price recorded 505 565 1,363 565 1 Receivables net of allowance, imputed interest and trade-in right guarantees. |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share | ||||
Net income | $ 3,146 | $ 3,621 | $ 6,422 | $ 7,355 |
Less: Net income attributable to noncontrolling interest | (102) | (74) | (178) | (156) |
Net Income attributable to AT&T | 3,044 | 3,547 | 6,244 | 7,199 |
Share-based payment | 2 | 3 | 6 | 7 |
Numerator for diluted earnings per share | $ 3,046 | $ 3,550 | $ 6,250 | $ 7,206 |
Weighted-average number of common shares outstanding | 5,204 | 5,204 | 5,204 | 5,213 |
Share-based payment (in shares) | 16 | 16 | 16 | 16 |
Denominator for diluted earnings per share | 5,220 | 5,220 | 5,220 | 5,229 |
Basic Earnings Per Share Attributable to AT&T | $ 0.58 | $ 0.68 | $ 1.20 | $ 1.38 |
Diluted Earnings Per Share Attributable to AT&T | $ 0.58 | $ 0.68 | $ 1.20 | $ 1.38 |
Accumulated Other Comprehensi27
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | $ 8,060 | $ 7,880 |
Other comprehensive income (loss) before reclassification, net of tax | (600) | (34) |
Amounts reclassifed from accumulated OCI, net of tax | (421) | 5 |
Net other comprehensive income (loss), net of tax | (1,021) | (29) |
Accumulated other comprehensive income, ending balance | 7,039 | 7,851 |
Foreign Currency Translation Adjustment [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | (26) | (367) |
Other comprehensive income (loss) before reclassification, net of tax | (185) | 5 |
Amounts reclassifed from accumulated OCI, net of tax | 0 | 416 |
Net other comprehensive income (loss), net of tax | (185) | 421 |
Accumulated other comprehensive income, ending balance | (211) | 54 |
Net Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | 498 | 450 |
Other comprehensive income (loss) before reclassification, net of tax | 34 | 59 |
Amounts reclassifed from accumulated OCI, net of tax | (9) | (14) |
Net other comprehensive income (loss), net of tax | 25 | 45 |
Accumulated other comprehensive income, ending balance | 523 | 495 |
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | 741 | 445 |
Other comprehensive income (loss) before reclassification, net of tax | (449) | (98) |
Amounts reclassifed from accumulated OCI, net of tax | 17 | 21 |
Net other comprehensive income (loss), net of tax | (432) | (77) |
Accumulated other comprehensive income, ending balance | 309 | 368 |
Defined Benefit Postretirement Plans [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | 6,847 | 7,352 |
Other comprehensive income (loss) before reclassification, net of tax | 0 | 0 |
Amounts reclassifed from accumulated OCI, net of tax | (429) | (418) |
Net other comprehensive income (loss), net of tax | (429) | (418) |
Accumulated other comprehensive income, ending balance | $ 6,418 | $ 6,934 |
Segment Information (Summary Of
Segment Information (Summary Of Operating Revenues And Expenses By Segment)(Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Segment Reporting Information [Line Items] | ||||
Service | $ 29,541 | $ 29,556 | $ 58,503 | $ 59,332 |
Equipment | 3,474 | 3,019 | 7,088 | 5,719 |
Total segment operating revenues | 33,015 | 32,575 | 65,591 | 65,051 |
Operations and support expenses | 22,607 | 22,409 | 45,149 | 43,990 |
Depreciation and amortization expenses | 4,696 | 4,550 | 9,274 | 9,167 |
Total segment operating expenses | 27,303 | 26,959 | 54,423 | 53,157 |
Segment operating income (loss) | 5,712 | 5,616 | 11,168 | 11,894 |
Interest expense | 932 | 881 | 1,831 | 1,741 |
Equity in net income (loss) of affiliates | 33 | 102 | 33 | 190 |
Other income (expense) - net | 48 | 1,269 | 118 | 1,414 |
Segment income (loss) before income taxes | 4,861 | 6,106 | 9,488 | 11,757 |
Operating Segments [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Service | 15,115 | 15,148 | 29,927 | 30,535 |
Equipment | 3,189 | 2,782 | 6,563 | 5,261 |
Total segment operating revenues | 18,304 | 17,930 | 36,490 | 35,796 |
Operations and support expenses | 11,551 | 11,568 | 23,232 | 22,450 |
Depreciation and amortization expenses | 2,073 | 2,035 | 4,131 | 3,966 |
Total segment operating expenses | 13,624 | 13,603 | 27,363 | 26,416 |
Segment operating income (loss) | 4,680 | 4,327 | 9,127 | 9,380 |
Interest expense | 0 | 0 | 0 | 0 |
Equity in net income (loss) of affiliates | 0 | (29) | (4) | (49) |
Other income (expense) - net | 0 | 0 | 0 | 0 |
Segment income (loss) before income taxes | 4,680 | 4,298 | 9,123 | 9,331 |
Operating Segments [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Service | 13,981 | 14,408 | 27,916 | 28,797 |
Equipment | 233 | 229 | 446 | 441 |
Total segment operating revenues | 14,214 | 14,637 | 28,362 | 29,238 |
Operations and support expenses | 10,362 | 10,700 | 20,625 | 21,157 |
Depreciation and amortization expenses | 2,488 | 2,514 | 4,964 | 5,198 |
Total segment operating expenses | 12,850 | 13,214 | 25,589 | 26,355 |
Segment operating income (loss) | 1,364 | 1,423 | 2,773 | 2,883 |
Interest expense | 0 | 0 | 0 | 0 |
Equity in net income (loss) of affiliates | 1 | 0 | (6) | 1 |
Other income (expense) - net | 0 | 0 | 0 | 0 |
Segment income (loss) before income taxes | 1,365 | 1,423 | 2,767 | 2,884 |
Operating Segments [Member] | International [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Service | 445 | 0 | 660 | 0 |
Equipment | 46 | 0 | 67 | 0 |
Total segment operating revenues | 491 | 0 | 727 | 0 |
Operations and support expenses | 529 | 0 | 748 | 0 |
Depreciation and amortization expenses | 125 | 0 | 169 | 0 |
Total segment operating expenses | 654 | 0 | 917 | 0 |
Segment operating income (loss) | (163) | 0 | (190) | 0 |
Interest expense | 0 | 0 | 0 | 0 |
Equity in net income (loss) of affiliates | 0 | 99 | 0 | 153 |
Other income (expense) - net | 0 | 0 | 0 | 0 |
Segment income (loss) before income taxes | (163) | 99 | (190) | 153 |
Consolidation Non-Segment [Member] | Corporate and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Service | 0 | 0 | 0 | 0 |
Equipment | 6 | 8 | 12 | 17 |
Total segment operating revenues | 6 | 8 | 12 | 17 |
Operations and support expenses | 165 | 141 | 544 | 383 |
Depreciation and amortization expenses | 10 | 1 | 10 | 3 |
Total segment operating expenses | 175 | 142 | 554 | 386 |
Segment operating income (loss) | (169) | (134) | (542) | (369) |
Interest expense | 932 | 881 | 1,831 | 1,741 |
Equity in net income (loss) of affiliates | 32 | 32 | 43 | 85 |
Other income (expense) - net | 48 | 1,269 | 118 | 1,414 |
Segment income (loss) before income taxes | $ (1,021) | $ 286 | $ (2,212) | $ (611) |
Segment Information (Summary 29
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Narrative) (Details) | Jun. 30, 2015 | Jun. 30, 2014 |
Business Segment Disposal [Line Items] | ||
Number of Reportable Segments | 3 | |
America Movil [Member] | ||
Business Segment Disposal [Line Items] | ||
Disposal date of subsidiary/assets | Jun. 30, 2014 |
Pension And Postretirement Be30
Pension And Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Combined net pension and postretirement cost increase (decrease) | $ (174) | $ (348) | |||||||
Net supplemental retirement pension benefits costs | 21 | $ 29 | 41 | $ 58 | |||||
Net supplemental retirement pension benefits costs - interest cost | 18 | $ 28 | 37 | $ 55 | |||||
Pension Benefit [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Pension Contribution Date | Dec. 31, 2013 | ||||||||
Required contribution to pension plans | $ 175 | 280 | $ 560 | ||||||
Annualized cash distributions to be received by the trust/pension | 175 | ||||||||
Value of entity's noncash contribution to it's defined benefit plans | $ 8,896 | $ 8,896 | 8,896 | ||||||
Pension Benefit [Member] | December 2014 Lump Sum Payment Offer [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Period offer presented to retirement-eligible employees to receive a one-time opportunity to elect a full lump sum payment of their accrued pension | Dec. 31, 2014 | ||||||||
Approximate lump sum value of early retirement offer expected to be paid in next 12 months | $ 1,200 | ||||||||
Special Termination Benefit | $ 150 | ||||||||
Date at which retirees must accept lump sum payment offer | Mar. 31, 2015 |
Pension And Postretirement Be31
Pension And Postretirement Benefits (Pension And Postretirement Benefit Costs Included In Operating Expenses) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Net (credit) cost | $ (206) | $ (32) | $ (413) | $ (65) |
Pension Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 300 | 282 | 599 | 564 |
Interest cost on benefit obligation | 473 | 662 | 947 | 1,323 |
Expected return on assets | (826) | (851) | (1,652) | (1,700) |
Amortization of prior service credit | (26) | (23) | (52) | (47) |
Net (credit) cost | (79) | 70 | (158) | 140 |
Postretirement Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 56 | 58 | 111 | 116 |
Interest cost on benefit obligation | 241 | 364 | 483 | 729 |
Expected return on assets | (105) | (162) | (210) | (326) |
Amortization of prior service credit | (319) | (362) | (639) | (724) |
Net (credit) cost | $ (127) | $ (102) | $ (255) | $ (205) |
Fair Value Measurements And D32
Fair Value Measurements And Disclosure (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value Disclosures [Abstract] | ||
Fixed income investments - maturities less than 1 year | $ 93 | |
Fixed income investments - maturities within 1 to 3 years | 392 | |
Fixed income investments - maturities within 3 to 5 years | 63 | |
Fixed income investments - maturities for 5 or more years | 230 | |
Anticipated reclassification of holding losses during the next 12 months - cash flow hedges | 61 | |
Collateral received from counterparty | 396 | $ 599 |
Collateral submitted to counterparty | 1,544 | $ 530 |
Collateral contingently payable to the counterparty | $ 69 |
Fair Value Measurements And D33
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Carrying Amount [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Notes and debentures | $ 113,167 | $ 81,632 |
Bank borrowings | 5 | 5 |
Investment securities | 2,758 | 2,735 |
Fair Value [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Bank borrowings | 5 | 5 |
Investment securities | 2,758 | 2,735 |
Fair Value [Member] | Level 2 [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Notes and debentures | $ 116,669 | $ 90,367 |
Fair Value Measurements And D34
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | $ 170 | $ 157 |
Cross-Currency Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 1,280 | 1,243 |
Liability Derivatives (at fair value) | (2,568) | (1,506) |
Interest Rate Locks [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 5 | |
Liability Derivatives (at fair value) | (133) | |
Domestic Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 1,165 | 1,160 |
International Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 614 | 553 |
Fixed Income Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 778 | 836 |
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 |
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] | Interest Rate Locks [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 0 | |
Liability Derivatives (at fair value) | 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) | 1,165 | 1,160 |
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) | 614 | 553 |
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) | 170 | 157 |
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) | 1,280 | 1,243 |
Liability Derivatives (at fair value) | (2,568) | (1,506) |
Level 2 [Member] | Interest Rate Locks [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 5 | |
Liability Derivatives (at fair value) | (133) | |
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) | 778 | 836 |
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 |
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] | Interest Rate Locks [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 0 | |
Liability Derivatives (at fair value) | 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 D35
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Notional Amount of Outstanding Derivative Positions | $ 35,425 | $ 39,805 |
Interest Rate Swaps [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Outstanding Derivative Positions | 8,050 | 6,550 |
Cross-Currency Swaps [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Outstanding Derivative Positions | 27,375 | 26,505 |
Interest Rate Locks [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Outstanding Derivative Positions | $ 0 | $ 6,750 |
Fair Value Measurements And D36
Fair Value Measurements And Disclosure (Effect Of Derivatives On The Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value Hedging Relationships [Member] | Interest Rate Swaps [Member] | Interest expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on interest rate swaps | $ (30) | $ 22 | $ 11 | $ 11 |
Gain (Loss) on long-term debt | 30 | (22) | (11) | (11) |
Cash Flow Hedging Relationships [Member] | Cross-Currency Swaps [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) recognized in accumulated OCI | (102) | (160) | (330) | (149) |
Cash Flow Hedging Relationships [Member] | Interest Rate Locks [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) recognized in accumulated OCI | (45) | 0 | (361) | 0 |
Interest income (expense) reclassified from accumulated OCI into income | (15) | (11) | (26) | (22) |
Cash Flow Hedging Relationships [Member] | Foreign Exchange Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) recognized in accumulated OCI | $ 0 | $ 0 | $ 0 | $ (2) |
Acquisitions, Dispositions An37
Acquisitions, Dispositions And Other Adjustments (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Jul. 24, 2015 | Apr. 30, 2015 | Jan. 16, 2015 | Jan. 31, 2015 | Oct. 31, 2014 | Mar. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 |
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of business - anticipated or actual cash paid to seller | $ 20,954 | $ 857 | ||||||
DIRECTV [Member] | Acquisition [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of assets - anticipated or actual acquisition date | Jul. 24, 2015 | |||||||
Acquisition of business - approximate acquisition value | $ 47,110 | |||||||
Acquisition of business - cash payment to acquire assets | $ 14,379 | |||||||
Acquisition of business - cash payment to acquire assets (in US dollars per share) | $ 28.50 | |||||||
Acquisition of business - noncash consideration | 1.892 shares of AT&T stock per share of DIRECTV for 954,518,588 shares issued to DIRECTV shareholders for an approximate 16% stake in the combined company | |||||||
Acquisition of business - value of noncash consideration given (in millions) | $ 32,731 | |||||||
Acquisition of business - value of noncash consideration (in US dollars per share) | $ 34.29 | |||||||
Acquisition of business - noncash consideration given number of shares | 954,518,588 | |||||||
Acquisition of business - percentage ownership of combined company held by former shareholders of acquiree | 16.00% | |||||||
Acquistion of business - allocaton to debt, net of cash received by seller | $ 15,891 | |||||||
FCC Auction 97 [Member] | Acquisition [Member] | Spectrum Licenses [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of assets - anticipated or actual acquisition date | Jan. 31, 2015 | |||||||
Acquisition of intangible assets through a group purchase - value/amount of assets acquired | $ 18,189 | |||||||
License Purchase Agreement Description | 251 Advanced Wireless Service (AWS) spectrum | |||||||
Payments To Acquire Intangible Assets | $ 921 | $ 17,268 | ||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of assets - anticipated or actual acquisition date | Jan. 16, 2015 | |||||||
Acquistion of business - allocaton to debt, net of cash received by seller | $ 700 | |||||||
Acquisition of business - anticipated or actual cash paid to seller | 2,500 | |||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Property, Plant and Equipment [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of business - preliminary value/amount of assets acquired | 952 | |||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Customer Lists [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of intangible assets - value/amount of assets acquired | 308 | |||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Goodwill [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of intangible assets - value/amount of assets acquired | 919 | |||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Spectrum Licenses [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of intangible assets - value/amount of assets acquired | 865 | |||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Trade Names [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of intangible assets - value/amount of assets acquired | $ 26 | |||||||
Nextel Mexico [Member] | Acquisition [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of assets - anticipated or actual acquisition date | Apr. 30, 2015 | |||||||
Acquistion of business - allocaton to debt, net of cash received by seller | $ 427 | |||||||
Acquisition of business - anticipated or actual cash paid to seller | 1,875 | |||||||
Nextel Mexico [Member] | Acquisition [Member] | Property, Plant and Equipment [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of business - preliminary value/amount of assets acquired | 1,206 | |||||||
Nextel Mexico [Member] | Acquisition [Member] | Customer Lists [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of intangible assets - value/amount of assets acquired | 157 | |||||||
Nextel Mexico [Member] | Acquisition [Member] | Goodwill [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of intangible assets - value/amount of assets acquired | 363 | |||||||
Nextel Mexico [Member] | Acquisition [Member] | Spectrum Licenses [Member] | ||||||||
Acquisition and Dispositions [Line Items] | ||||||||
Acquisition of intangible assets - value/amount of assets acquired | $ 338 |
Sale Of Equipment Installment38
Sale Of Equipment Installment Receivables (Narrative) (Details) - USD ($) $ in Millions | Jun. 27, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 |
Changes In Other Assets [Line Items] | |||||||
Sale of equipment installment receivables - cash proceeds | $ 1,049 | $ 819 | $ 2,573 | $ 819 | |||
Deferred purchase price recorded during period | 505 | 565 | 1,363 | 565 | |||
Other Assets - current | 6,421 | 6,421 | $ 6,421 | $ 6,925 | |||
Other Assets - noncurrent | 10,463 | 10,463 | 10,463 | 10,998 | |||
Deferred Purchase Price [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Other Assets | 2,857 | 2,857 | 2,857 | 1,606 | |||
Other Assets - current | 1,677 | $ 1,677 | 1,677 | ||||
Other Assets - noncurrent | 1,606 | ||||||
Deferred Purchase Price [Member] | Collections on behalf of purchaser [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Purchasers for receivables sold | 254 | ||||||
Deferred Purchase Price [Member] | Remittances to Purchaser [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Purchasers for receivables sold | 254 | ||||||
Finance Receivables [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Equipment installment sales - maximum installment period (in months) | 30 months | ||||||
Sale of equipment installment receivables - agreement date | Jun. 27, 2014 | ||||||
Receivables sold during period | 1,728 | 1,637 | $ 4,363 | 1,637 | |||
Other Assets | 3,929 | 3,929 | 3,929 | 4,265 | |||
Finance Receivables [Member] | Collections on behalf of purchaser [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Purchasers for receivables sold | 2,263 | ||||||
Finance Receivables [Member] | Remittances to Purchaser [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Purchasers for receivables sold | 2,263 | ||||||
Finance Receivables [Member] | Notes Receivable [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Gross equipment installment receivables balance - current | 2,348 | 2,348 | $ 2,348 | $ 2,514 | |||
Finance Receivables, Net [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Receivables sold during period | $ 1,555 | $ 1,391 | $ 3,936 | $ 1,391 |
Sale Of Equipment Installment39
Sale Of Equipment Installment Receivables (Finance Receivables) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Changes In Other Assets [Line Items] | ||||
Cash proceeds received | $ 1,049 | $ 819 | $ 2,573 | $ 819 |
Deferred purchase price recorded during period | 505 | 565 | 1,363 | 565 |
Finance Receivables [Member] | ||||
Changes In Other Assets [Line Items] | ||||
Receivables sold during period | 1,728 | 1,637 | 4,363 | 1,637 |
Finance Receivables Net [Member] | ||||
Changes In Other Assets [Line Items] | ||||
Receivables sold during period | $ 1,555 | $ 1,391 | $ 3,936 | $ 1,391 |