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Income Statement
Quarterly Data

Difficulty: Beginner

The income statement presents information on the financial results of a company's 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 (quarterly data)

USD $ in millions

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3 months ended Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
Service 33,646  36,225  36,378  36,538  36,456  37,369  37,272  37,142  37,101  37,635  35,539  29,541  28,962  29,315  29,790  29,556  29,776  33,163  32,158  32,075  31,356 
Equipment 4,392  5,451  3,290  3,299  2,909  4,472  3,618  3,378  3,434  4,484  3,552  3,474  3,614  5,124  3,167  3,019  2,700 
Operating revenues 38,038  41,676  39,668  39,837  39,365  41,841  40,890  40,520  40,535  42,119  39,091  33,015  32,576  34,439  32,957  32,575  32,476  33,163  32,158  32,075  31,356 
Equipment (4,848) (6,532) (4,191) (4,138) (3,848) (5,667) (4,455) (4,260) (4,375) (5,868) (4,501) (4,353) (4,546)
Broadcast, programming and operations (5,166) (6,003) (5,284) (4,898) (4,974) (5,612) (4,909) (4,701) (4,629) (5,645) (4,081) (1,148) (1,122)
Other cost of services, exclusive of depreciation and amortization (7,932) (9,797) (9,431) (9,218) (9,065) (9,840) (9,526) (9,514) (9,396) (8,178) (9,214) (9,578) (8,812) (18,537) (14,541) (14,212) (13,321) (12,237) (13,403) (13,270) (12,554)
Cost of services and sales (17,946) (22,332) (18,906) (18,254) (17,887) (21,119) (18,890) (18,475) (18,400) (19,691) (17,796) (15,079) (14,480) (18,537) (14,541) (14,212) (13,321) (12,237) (13,403) (13,270) (12,554)
Gross profit 20,092  19,344  20,762  21,583  21,478  20,722  22,000  22,045  22,135  22,428  21,295  17,936  18,096  15,902  18,416  18,363  19,155  20,926  18,755  18,805  18,802 
Selling, general and administrative (7,897) (10,000) (8,317) (8,113) (8,487) (9,984) (9,013) (8,909) (8,441) (8,384) (9,107) (7,467) (7,961) (14,765) (8,475) (8,197) (8,260) (4,008) (7,952) (8,121) (8,333)
Abandonment of network assets (2,914) (361) (35) (2,120)
Depreciation and amortization (5,994) (6,071) (6,042) (6,147) (6,127) (6,129) (6,579) (6,576) (6,563) (6,477) (6,265) (4,696) (4,578) (4,567) (4,539) (4,550) (4,617) (4,680) (4,615) (4,571) (4,529)
Operating income 6,201  359  6,403  7,323  6,864  4,248  6,408  6,560  7,131  7,532  5,923  5,773  5,557  (5,550) 5,402  5,616  6,278  12,238  6,188  6,113  5,940 
Interest expense (1,771) (1,926) (1,686) (1,395) (1,293) (1,221) (1,224) (1,258) (1,207) (1,143) (1,146) (932) (899) (856) (1,016) (881) (860) (1,459) (829) (825) (827)
Equity in net income (loss) of affiliates 20  11  14  (173) 41  16  28  13  31  15  33  (13) (2) 102  88  148  91  218  185 
Other income (expense), net 1,702  264  246  128  (20) 123  (7) 91  70  (113) (57) 48  70  196  42  1,269  145  226  50  288  32 
Other income (expense) (60) (1,642) (1,429) (1,253) (1,486) (1,057) (1,215) (1,139) (1,124) (1,225) (1,188) (851) (829) (673) (976) 490  (627) (1,085) (688) (319) (610)
Income before income taxes 6,141  (1,283) 4,974  6,070  5,378  3,191  5,193  5,421  6,007  6,307  4,735  4,922  4,728  (6,223) 4,426  6,106  5,651  11,153  5,500  5,794  5,330 
Income tax (expense) benefit (1,382) 20,419  (1,851) (2,056) (1,804) (676) (1,775) (1,906) (2,122) (2,221) (1,657) (1,738) (1,389) 2,327  (1,367) (2,485) (1,917) (4,158) (1,595) (1,914) (1,557)
Net income 4,759  19,136  3,123  4,014  3,574  2,515  3,418  3,515  3,885  4,086  3,078  3,184  3,339  (3,896) 3,059  3,621  3,734  6,995  3,905  3,880  3,773 
Net income attributable to noncontrolling interest (97) (99) (94) (99) (105) (78) (90) (107) (82) (80) (84) (102) (76) (81) (57) (74) (82) (82) (91) (58) (73)
Net income attributable to AT&T 4,662  19,037  3,029  3,915  3,469  2,437  3,328  3,408  3,803  4,006  2,994  3,082  3,263  (3,977) 3,002  3,547  3,652  6,913  3,814  3,822  3,700 
Source: AT&T Inc., Quarterly and Annual Reports
Item Description The company
Operating revenues Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. AT&T Inc.'s operating revenues increased from Q3 2017 to Q4 2017 but then declined significantly from Q4 2017 to Q1 2018.
Operating income The net result for the period of deducting operating expenses from operating revenues. AT&T Inc.'s operating income declined from Q3 2017 to Q4 2017 but then increased from Q4 2017 to Q1 2018 not reaching Q3 2017 level.
Income before income taxes Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. AT&T Inc.'s income before income taxes declined from Q3 2017 to Q4 2017 but then increased from Q4 2017 to Q1 2018 exceeding Q3 2017 level.
Net income The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. AT&T Inc.'s net income increased from Q3 2017 to Q4 2017 but then slightly declined from Q4 2017 to Q1 2018 not reaching Q3 2017 level.
Net income attributable to AT&T The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. AT&T Inc.'s net income attributable to AT&T increased from Q3 2017 to Q4 2017 but then slightly declined from Q4 2017 to Q1 2018 not reaching Q3 2017 level.