The filing details AT&T's operations in two reportable segments: Communications and Latin America. The Communications segment provides wireless and wireline telecom and broadband services, while the Latin America segment offers wireless service and equipment in Mexico.
AT&T reported total operating revenues of $122.3 billion for 2024, a slight decrease from $122.4 billion in 2023. The decline was attributed to lower Business Wireline service revenues and Mobility equipment revenues.
Operating expenses for 2024 totaled $103.3 billion, up from $99.0 billion in 2023, primarily due to increased asset impairments and restructuring charges.
AT&T's operating income for 2024 was $19.0 billion, down from $23.5 billion in 2023. The decrease was mainly due to a noncash goodwill impairment charge of $4.4 billion associated with the Business Wireline reporting unit.
The company recorded a net income of $12.3 billion for 2024, compared to $15.6 billion in 2023. The effective tax rate for the year was 26.6%, impacted by the goodwill impairment charge.
AT&T's Communications segment accounted for approximately 97% of total segment operating revenues in 2024. The segment's operating income decreased by 2.5% to $27.1 billion.
The Mobility business unit within the Communications segment reported an increase in service revenue due to subscriber gains and higher average revenue per subscriber.
AT&T's Latin America segment, which operates in Mexico, reported operating revenues of $4.2 billion, up from $3.9 billion in 2023. The segment's operating income improved to $40 million.
The company continues to focus on expanding its 5G and fiber networks, with capital expenditures totaling $20.3 billion in 2024.
AT&T's total debt at the end of 2024 was $123.5 billion, a decrease from $137.3 billion at the end of 2023. The company repaid $10.1 billion of long-term debt during the year.
The filing also discusses various risk factors, including changes in federal regulations, competition, and potential impacts of climate change on AT&T's operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AT&T Inc. annual 10-K report dated February 12, 2025. To report an error, please email [email protected].