Stock Analysis on Net
Stock Analysis on Net
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AT&T Inc. (NYSE:T)

Common-Size Income Statement

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AT&T Inc., common-size consolidated income statement

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Service 90.23 89.22 90.69 90.90 89.70
Equipment 9.77 10.78 9.31 9.10 10.30
Operating revenues 100.00% 100.00% 100.00% 100.00% 100.00%
Equipment -10.29 -11.59 -11.65 -11.45 -13.13
Broadcast, programming and operations -17.18 -15.65 -13.18 -12.12 -8.17
Other cost of revenues, exclusive of depreciation and amortization -18.96 -19.27 -23.36 -23.37 -24.37
Cost of revenues -46.44% -46.51% -48.20% -46.94% -45.67%
Gross profit 53.56% 53.49% 51.80% 53.06% 54.33%
Selling, general and administrative -21.76 -21.53 -21.75 -22.19 -22.42
Asset abandonments and impairments -0.80 -0.03 -1.82 -0.22 -0.02
Depreciation and amortization -15.57 -16.65 -15.19 -15.78 -15.00
Operating income 15.43% 15.28% 13.05% 14.87% 16.88%
Interest expense -4.65 -4.66 -3.92 -3.00 -2.81
Equity in net income (loss) of affiliates 0.00 -0.03 -0.08 0.06 0.05
Other income (expense), net -0.59 3.97 0.38 0.17 -0.04
Other income (expense) -5.24% -0.72% -3.62% -2.77% -2.79%
Income before income taxes 10.19% 14.57% 9.43% 12.10% 14.10%
Income tax (expense) benefit -1.93 -2.88 9.16 -3.96 -4.77
Net income 8.26% 11.69% 18.59% 8.14% 9.32%
Net income attributable to noncontrolling interest -0.59 -0.34 -0.25 -0.22 -0.23
Net income attributable to AT&T 7.67% 11.34% 18.34% 7.92% 9.09%
Preferred stock dividends 0.00 0.00 0.00 0.00 0.00
Net income attributable to common stock 7.67% 11.34% 18.34% 7.92% 9.09%

Based on: 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-18).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. AT&T Inc.’s operating income as a percentage of operating revenues increased from 2017 to 2018 and from 2018 to 2019.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. AT&T Inc.’s income before income taxes as a percentage of operating revenues increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Net income attributable to AT&T The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. AT&T Inc.’s net income attributable to AT&T as a percentage of operating revenues decreased from 2017 to 2018 and from 2018 to 2019.