Question
AT&T reports the following footnote to its 2015 10-K report. Equity Method Investments Investments in partnerships, joint ventures and less than majority-owned subsidiaries in which
AT&T reports the following footnote to its 2015 10-K report. Equity Method Investments Investments in partnerships, joint ventures and less than majority-owned subsidiaries in which we have significant influence are accounted for under the equity method . . . The following table is a reconciliation of our investments in equity affiliates as presented on our consolidated balance sheets.
$ millions | 2015 | 2014 |
---|---|---|
Beginning of year | $250 | $3,860 |
Additional investments | 77 | 226 |
DIRECTV investments acquired | 1,232 | - |
Equity in net income of affiliates | 79 | 175 |
Dividends and distributions received | (30) | (148) |
Sale of America Movil shares | - | (3,817) |
Other adjustments | (2) | (46) |
End of year | $1,606 | $250 |
Undistributed earnings from equity affiliates were $162 and $88 at December 31, 2015 and 2014.
a. At what amount is the equity investment in affiliates reported on AT&Ts balance sheet?
b. How much income did AT&T report in 2015 relating to this investment in affiliates? $
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