Answered step by step
Verified Expert Solution
Question
1 Approved Answer
thank you Consolidated Statements Of Income - USD ($) $ in Millions 12 Months Ended Dec. 31, 2022 Dec. 31, 2021 Dec. 31, 2020 Consolidated
thank you
Consolidated Statements Of Income - USD ($) $ in Millions | 12 Months Ended | ||||||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||||
Operating Revenues | Current Assets | Dec. 31, 2022 | Dec. 31, 2021 | ||||||||
Total operating revenues | $ 120,741 | $ 134,038 | $ 143,050 | Cash and cash equivalents | $ 3,701 | $ 19,223 | Operating Activities | ||||
Cost of revenues | Accounts receivable net of related allowance for credit loss of $588 and $658 | 11,466 | 12,313 | Net income (loss) | $ (6,874) | $ 23,776 | |||||
Other cost of revenues (exclusive of depreciation and amortization shown separately below) | 26,839 | 28,616 | 29,989 | INVTR | 3,123 | 3,325 | Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities from continuing operations: | ||||
Selling, general and administrative | 28,961 | 29,669 | 30,817 | Prepaid and other current assets | 14,818 | 16,131 | Depreciation and amortization | 18,021 | 17,852 | ||
Asset impairments and abandonments and restructuring | 27,498 | 213 | 15,687 | Assets from discontinued operations | 0 | 119,776 | Provision for uncollectible accounts | 1,865 | 1,241 | ||
Depreciation and amortization | 18,021 | 17,852 | 22,523 | Total current assets | 33,108 | 170,768 | Deferred income tax expense | 2,975 | 7,412 | ||
Total operating expenses | 125,328 | 108,141 | 134,678 | Property, Plant and Equipment Net | 127,445 | 121,649 | Net (gain) loss on investments, net of impairments | 381 | (369) | ||
Operating Income (Loss) | (4,587) | 25,897 | 8,372 | Goodwill Net | 67,895 | 92,740 | Pension and postretirement benefit expense (credit) | (3,237) | (3,857) | ||
Other Income (Expense) | Licenses Net | 124,092 | 113,830 | Actuarial (gain) loss on pension and postretirement benefits | (1,999) | (4,143) | |||||
Interest Expense | (6,108) | (6,716) | (7,727) | Other Intangible Assets Net | 5,354 | 5,391 | Asset impairments and abandonments and restructuring | 27,498 | 213 | ||
Equity in net income of affiliates | 1,791 | 603 | 89 | Investments in and Advances to Equity Affiliates | 3,533 | 6,168 | Changes in operating assets and liabilities: | ||||
Other income (expense) net | 5,810 | 9,387 | (1,088) | Operating Lease Right-Of-Use Assets | 21,814 | 21,824 | Receivables | 727 | (1,125) | ||
Total other income (expense) | 1,493 | 3,274 | (8,726) | Other Assets | 19,612 | 19,252 | Other current assets | (674) | (1,288) | ||
Income (Loss) from Continuing Operations Before Income Taxes | (3,094) | 29,171 | (354) | Total Assets | 402,853 | 551,622 | Accounts payable and other accrued liabilities | (1,109) | (1,570) | ||
Income tax expense on continuing operations | 3,780 | 5,395 | 1,168 | Current Liabilities | Equipment installment receivables and related sales | 154 | (271) | ||||
Income (Loss) from Continuing Operations | (6,874) | 23,776 | (1,522) | Debt maturing within one year | 7,467 | 24,620 | Deferred customer contract acquisition and fulfillment costs | (947) | 18 | ||
Loss from discontinued operations, net of tax | (181) | (2,297) | (2,299) | Note payable to DIRECTV | 130 | 1,245 | Postretirement claims and contributions | (823) | (822) | ||
Net Income (Loss) | (7,055) | 21,479 | (3,821) | Accounts payable and accrued liabilities | 42,644 | 39,095 | Other net | (146) | 103 | ||
Less: Net Income Attributable to Noncontrolling Interest | (1,469) | (1,398) | (1,355) | Advanced billings and customer deposits | 3,918 | 3,966 | Total adjustments | 42,686 | 13,394 | ||
Net Income (Loss) Attributable to AT&T | (8,524) | 20,081 | (5,176) | Dividends payable | 2,014 | 3,749 | Net Cash Provided by Operating Activities from Continuing Operations | 35,812 | 37,170 | ||
Less: Preferred Stock Dividends | (203) | (207) | (193) | Liabilities from discontinued operations | 0 | 33,555 | Investing Activities | ||||
Net Income (Loss) Attributable to Common Stock | $ (8,727) | $ 19,874 | $ (5,369) | Total current liabilities | 56,173 | 106,230 | Capital expenditures | (19,626) | (15,545) | ||
Basic Earnings (Loss) Per Share from continuing operations | $ (1.10) | $ 3.07 | $ (0.45) | Long-Term Debt | 128,423 | 151,011 | Acquisitions, net of cash acquired | (10,200) | (25,453) | ||
Basic Loss Per Share from discontinued operations | (0.03) | (0.30) | (0.30) | Deferred Credits and Other Noncurrent Liabilities | Dispositions | 199 | 7,136 | ||||
Basic Earnings (Loss) Per Share Attributable to Common Stock | (1.13) | 2.77 | (0.75) | Deferred income taxes | 57,032 | 53,767 | Distributions from DIRECTV in excess of cumulative equity in earnings | 2,649 | 1,323 | ||
Diluted Earnings (Loss) Per Share from continuing operations | (1.10) | 3.02 | (0.45) | Postemployment benefit obligation | 7,260 | 12,560 | Other net | 79 | 50 | ||
Diluted Loss Per Share from discontinued operations | (0.03) | (0.29) | (0.30) | Operating lease liabilities | 18,659 | 18,956 | Net Cash Used in Investing Activities from Continuing Operations | (26,899) | (32,489) | ||
Diluted Earnings (Loss) Per Share Attributable to Common Stock | $ (1.13) | $ 2.73 | $ (0.75) | Other noncurrent liabilities | 28,849 | 25,243 | Financing Activities | ||||
Total deferred credits and other noncurrent liabilities | 111,800 | 110,526 | Net change in short-term borrowings with original maturities of three months or less | (519) | 1,316 | ||||||
Operating Revenues | Stockholders Equity | Issuance of other short-term borrowings | 3,955 | 21,856 | |||||||
Total operating revenues | $ 97,831 | $ 111,565 | $ 124,057 | Common stock ($1 par value, 14,000,000,000 authorized at December 31, 2022 and December 31, 2021: issued 7,620,748,598 at December 31, 2022 and December 31, 2021) | 7,621 | 7,621 | Repayment of other short-term borrowings | (18,345) | (7,510) | ||
Additional paid-in capital | 123,610 | 130,112 | Proceeds from Issuance of Long-Term Debt | 2,979 | 9,931 | ||||||
Operating Revenues | Retained (deficit) earnings | (19,415) | 42,350 | Repayment of long-term debt | (25,118) | (3,039) | |||||
Total operating revenues | 22,910 | 22,473 | 18,993 | Treasury stock (493,156,816 at December 31, 2022 and 479,684,705 at December 31, 2021, at cost) | (17,082) | (17,280) | Note payable to DIRECTV, net of payments | (1,211) | 1,341 | ||
Cost of revenues | Accumulated other comprehensive income | 2,766 | 3,529 | Payment of vendor financing | (4,697) | (4,596) | |||||
Cost of goods and services sold | 24,009 | 23,685 | 19,585 | Noncontrolling interest | 8,957 | 17,523 | Issuance of preferred stock | 0 | 0 | ||
Total stockholders equity | 106,457 | 183,855 | Purchase of treasury stock | (890) | (202) | ||||||
Cost of revenues | Total Liabilities and Stockholders Equity | 402,853 | 551,622 | Issuance of treasury stock | 28 | 96 | |||||
Cost of goods and services sold | $ 0 | $ 8,106 | $ 16,077 | Issuance of preferred interests in subsidiaries | 0 | 0 | |||||
Stockholders Equity | Redemption of preferred interest in subsidiary | (2,665) | 0 | ||||||||
Preferred stock | 0 | 0 | Dividends paid | (9,859) | (15,068) | ||||||
Other net | (3,222) | (2,231) | |||||||||
Stockholders Equity | Net Cash (Used in) Provided by Financing Activities from Continuing Operations | (59,564) | 1,894 | ||||||||
Preferred stock | 0 | 0 | Net (decrease) increase in cash and cash equivalents and restricted cash from continuing operations | (50,651) | 6,575 | ||||||
Net Cash Provided by (Used in) Discontinued Operations [Abstract] | |||||||||||
Stockholders Equity | Cash (used in) provided by operating activities | (3,789) | 4,788 | ||||||||
Preferred stock | $ 0 | $ 0 | Cash provided by (used in) investing activities | 1,094 | 399 | ||||||
Cash provided by (used in) financing activities | 35,823 | (316) | |||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash from discontinued operations | 33,128 | 4,871 | |||||||||
Net (decrease) increase in cash and cash equivalents and restricted cash | (17,523) | 11,446 | |||||||||
Cash and cash equivalents and restricted cash beginning of year | 21,316 | 9,870 | |||||||||
Cash and Cash Equivalents and Restricted Cash End of Year | $ 3,793 | $ 21,316 |
Working Capital |
Current Ratio |
Debt to Asset Ratio |
Return on Equity |
Return on Assets |
Inventory Turnover |
Days in Inventory |
Accounts Recivable Turnover |
Times Intrest Earned |
Free Cash Flow |
Gross Profit Rate |
Profit Margin |
Asset Turnover |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started