AT&T Inc. Financial Review 2014
AT&T Inc. Financial Review 2014 Selected Financial and Operating Data 10 Management’s Discussion and Analysis of Financial Condition and Results of Operations 11 Consolidated Financial Statements 42 Notes to Consolidated Financial Statements 47 Report of Management 76 Report of Independent Registered Public Accounting Firm 77 Report of Independent Registered Public Accounting Firm on Internal Control over Financial Reporting 78 Board of Directors 79 Executive Officers 80 AT&T INC. | 9 Selected Financial and Operating Data Dollars in millions except per share amounts At December 31 and for the year ended: 2014 2013 2012 2011 2010 Financial Data Operating revenues $132,447 $128,752 $127,434 $126,723 $124,280 Operating expenses $120,701 $ 98,273 $114,437 $117,505 $104,707 Operating income $ 11,746 $ 30,479 $ 12,997 $ 9,218 $ 19,573 Interest expense $ 3,613 $ 3,940 $ 3,444 $ 3,535 $ 2,994 Equity in net income of affiliates $ 175 $ 642 $ 752 $ 784 $ 762 Other income – net $ 1,652 $ 596 $ 134 $ 249 $ 897 Income tax expense (benefit) $ 3,442 $ 9,224 $ 2,900 $ 2,532 $ (1,162) Net Income $ 6,518 $ 18,553 $ 7,539 $ 4,184 $ 20,179 Less: Net Income Attributable to Noncontrolling Interest $ (294) $ (304) $ (275) $ (240) $ (315) Net Income Attributable to AT&T $ 6,224 $ 18,249 $ 7,264 $ 3,944 $ 19,864 Earnings Per Common Share: Net Income Attributable to AT&T $ 1.19 $ 3.39 $ 1.25 $ 0.66 $ 3.36 Earnings Per Common Share – Assuming Dilution: Net Income Attributable to AT&T $ 1.19 $ 3.39 $ 1.25 $ 0.66 $ 3.35 Total assets $292,829 $277,787 $272,315 $270,442
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