\begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ConsolidatedStatementsofOperationsInmillionsofdollars,exceptpershareamounts} \\ \hline & YearendedDec31,2022 & YearendedDec31,2021 & YearendedDec31,2020 \\ \hline Net operating revenues & $136,835 & $133,613 & $128,292 \\ \hline Cost of sales & 28,637 & 31,234 & 31,401 \\ \hline Wireless cost of equipment & 30,496 & 25,067 & 19,800 \\ \hline Selling, general and administrative expenses & 30,136 & 28,658 & 31,573 \\ \hline Depreciation and amortization expense & 17,099 & 16,206 & 16,720 \\ \hline Income from operations & 30,467 & 32,448 & 28,798 \\ \hline Income(Loss) from equity method investments & 44 & 145 & (45) \\ \hline Other income/(loss), net & 1,373 & 312 & (539) \\ \hline Interest expense & 3,613 & 3,485 & 4,247 \\ \hline Income before income taxes & 28,271 & 29,420 & 23,967 \\ \hline Income tax expense/(benefit) & 6,523 & 6,802 & 5,619 \\ \hline Net income & $21,748 & $22,618 & $18,348 \\ \hline Earnings per share & $5.06 & $5.32 & $4.30 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{CONSOLIDATEDSTATEMENTSOFCASHFLOWSInmillionsofdollars} \\ \hline & YearendedDec31,2022 & YearendedDec31,2021 & YearendedDec31,2020 \\ \hline \multicolumn{4}{|l|}{ OPERATING ACTIVITIES } \\ \hline Net Income & $21,748 & $22,618 & $18,348 \\ \hline \multicolumn{4}{|l|}{ Adjustments: } \\ \hline Depreciation and amortization expense & 17,099 & 16,206 & 16,720 \\ \hline Employee retirement benefits & (2,046) & (3,391) & 840 \\ \hline Deferred income taxes & 2,973 & 4,264 & 1,553 \\ \hline Bad debt expense & 1,611 & 789 & 1,380 \\ \hline Loss/(gain) from equity method investments & (10) & 36 & 91 \\ \hline Other, net & (3,778) & (93) & 2,780 \\ \hline \multicolumn{4}{|l|}{ Changes in assets and liabilities: } \\ \hline Accounts receivable & (1,978) & (1,592) & 189 \\ \hline Inventories & 627 & (905) & (369) \\ \hline Prepaid expenses and other & 928 & 150 & 1,202 \\ \hline Accounts payable and other current liabilities & (33) & 1,457 & (966) \\ \hline Net cash provided by operating activities & 37,141 & 39,539 & 41,768 \\ \hline \multicolumn{4}{|l|}{ INVESTING ACTIVITIES } \\ \hline Purchases of PP\&E & (23,087) & (20,286) & (18,192) \\ \hline Acquisitions of businesses, net of cash acquired & 248 & (4,065) & (520) \\ \hline Acquisitions of wireless licenses & (3,653) & (47,596) & (3,896) \\ \hline Proceeds from dispositions of businesses & 33 & 4,122 & - \\ \hline Other, net & (2,203) & 672 & (904) \\ \hline Net cash used in investing activities & (28,662) & (67,153) & (23,512) \\ \hline \multicolumn{4}{|l|}{ FINANCING ACTIVITIES } \\ \hline Proceeds from issuance of debt & 17,912 & 41,417 & 31,457 \\ \hline Repayments of debt & (13,564) & (18,863) & (17,188) \\ \hline Dividends paid & (10,805) & (10,445) & (10,232) \\ \hline Other, net & (2,072) & (3,832) & (2,712) \\ \hline Net cash provided by/(used in) financing activities & (8,529) & 8,277 & 1,325 \\ \hline NET INCREASE IN CASH \& CASH EQUIVALENTS & (50) & (19,337) & 19,581 \\ \hline CASH \& CASH EQUIVALENTS, BEGINNING OF PERIOD & 4,161 & 23,498 & 3,917 \\ \hline CASH \& CASH EQUIVALENTS, END OF PERIOD & $4,111 & $4,161 & $23,498 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ConsolidatedBalanceSheetsInmillionsofdollars} \\ \hline ASSETS & AsofDec31,2022 & AsofDec31,2021 & AsofDec31,2020 \\ \hline Cash and cash equivalents & $4,111 & $4,161 & $23,498 \\ \hline Accountsreceivable,netallowancefordoubtfulaccountsof$826at12/31/22,$896at12/31/21and$1,252at12/31/20 & 24,506 & 23,846 & 23,917 \\ \hline Inventories & 2,388 & 3,055 & 1,796 \\ \hline Prepaid expenses and other current assets & 6,852 & 5,666 & 5,383 \\ \hline Total current assets & 37,857 & 36,728 & 54,594 \\ \hline Property and equipment, net & 107,434 & 99,696 & 94,833 \\ \hline Equity method investments & 1,071 & 1,061 & 589 \\ \hline Wireless licenses & 149,796 & 147,619 & 96,097 \\ \hline Goodwill & 28,671 & 28,603 & 24,773 \\ \hline Other intangible assets, net & 11,461 & 11,677 & 9,413 \\ \hline Operating lease right-of-use assets & 26,130 & 27,883 & 22,531 \\ \hline Other long-term assets & 17,260 & 13,329 & 13,651 \\ \hline Total assets & $379,680 & $366,596 & $316,481 \\ \hline \multicolumn{4}{|l|}{ LIABILITIES \& EQUITY } \\ \hline Debt maturing within one year & $9,963 & $7,443 & $5,889 \\ \hline Accounts payable and accrued liabilities & 23,977 & 24,833 & 20,658 \\ \hline Other current liabilities & 16,231 & 14,884 & 13,113 \\ \hline Total current liabilities & 50,171 & 47,160 & 39,660 \\ \hline Long-term debt & 140,676 & 143,425 & 123,173 \\ \hline Employee benefit obligations & 12,974 & 15,410 & 18,657 \\ \hline Deferred income taxes & 43,441 & 40,685 & 35,711 \\ \hline Operating lease liabilities & 21,558 & 23,203 & 18,000 \\ \hline Other long-term liabilities & 18,397 & 13,513 & 12,008 \\ \hline Total liabilities & 287,217 & 283,396 & 247,209 \\ \hline Common stock \& additional paid in capital & 13,849 & 14,290 & 13,833 \\ \hline Treasury stock & (4,013) & (4,104) & (6,719) \\ \hline Retained earnings & 82,380 & 71,993 & 60,464 \\ \hline Accumulated other comprehensive income & (1,072) & (389) & 264 \\ \hline Noncontrolling interests & 1,319 & 1,410 & 1,430 \\ \hline Total shareholders' equity & 92,463 & 83,200 & 69,272 \\ \hline Total liabilities and shareholders' equity & $379,680 & $366,596 & $316,481 \\ \hline \end{tabular}