Stock Analysis on Net

AT&T Inc. (NYSE:T)

Income Statement 

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

AT&T Inc., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Service 99,649 97,831 146,391 152,767 163,499
Equipment 22,779 22,910 22,473 18,993 17,694
Operating revenues 122,428 120,741 168,864 171,760 181,193
Equipment (23,136) (24,009) (23,778) (19,706) (18,653)
Broadcast, programming and operations (24,797) (27,305) (31,132)
Other cost of revenues, exclusive of depreciation and amortization (26,987) (26,839) (31,232) (32,909) (34,356)
Cost of revenues (50,123) (50,848) (79,807) (79,920) (84,141)
Gross profit 72,305 69,893 89,057 91,840 97,052
Selling, general and administrative (28,874) (28,961) (37,944) (38,039) (39,422)
Asset impairments and abandonments and restructuring (1,193) (27,498) (4,904) (18,880) (1,458)
Depreciation and amortization (18,777) (18,021) (22,862) (28,516) (28,217)
Operating income (loss) 23,461 (4,587) 23,347 6,405 27,955
Interest expense (6,704) (6,108) (6,884) (7,925) (8,422)
Equity in net income of affiliates 1,675 1,791 631 95 6
Other income (expense), net 1,416 5,810 9,853 (1,431) (1,071)
Other income (expense) (3,613) 1,493 3,600 (9,261) (9,487)
Income (loss) from continuing operations before income taxes 19,848 (3,094) 26,947 (2,856) 18,468
Income tax expense on continuing operations (4,225) (3,780) (5,468) (965) (3,493)
Income (loss) from continuing operations 15,623 (6,874) 21,479 (3,821) 14,975
Loss from discontinued operations, net of tax (181)
Net income (loss) 15,623 (7,055) 21,479 (3,821) 14,975
Net income attributable to noncontrolling interest (1,223) (1,469) (1,398) (1,355) (1,072)
Net income (loss) attributable to AT&T 14,400 (8,524) 20,081 (5,176) 13,903
Preferred stock dividends (208) (203) (207) (193) (3)
Net income (loss) attributable to common stock 14,192 (8,727) 19,874 (5,369) 13,900

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. AT&T Inc. operating revenues decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. AT&T Inc. operating income (loss) decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Income (loss) from continuing operations 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. income (loss) from continuing operations before income taxes decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Net income (loss) 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. net income (loss) attributable to AT&T decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.