Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T)

Common-Size Income Statement

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

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Service 81.39 81.03 86.69 88.94 90.23
Equipment 18.61 18.97 13.31 11.06 9.77
Operating revenues 100.00% 100.00% 100.00% 100.00% 100.00%
Equipment -18.90 -19.88 -14.08 -11.47 -10.29
Broadcast, programming and operations 0.00 0.00 -14.68 -15.90 -17.18
Other cost of revenues, exclusive of depreciation and amortization -22.04 -22.23 -18.50 -19.16 -18.96
Cost of revenues -40.94% -42.11% -47.26% -46.53% -46.44%
Gross profit 59.06% 57.89% 52.74% 53.47% 53.56%
Selling, general and administrative -23.58 -23.99 -22.47 -22.15 -21.76
Asset impairments and abandonments and restructuring -0.97 -22.77 -2.90 -10.99 -0.80
Depreciation and amortization -15.34 -14.93 -13.54 -16.60 -15.57
Operating income (loss) 19.16% -3.80% 13.83% 3.73% 15.43%
Interest expense -5.48 -5.06 -4.08 -4.61 -4.65
Equity in net income of affiliates 1.37 1.48 0.37 0.06 0.00
Other income (expense), net 1.16 4.81 5.83 -0.83 -0.59
Other income (expense) -2.95% 1.24% 2.13% -5.39% -5.24%
Income (loss) from continuing operations before income taxes 16.21% -2.56% 15.96% -1.66% 10.19%
Income tax expense on continuing operations -3.45 -3.13 -3.24 -0.56 -1.93
Income (loss) from continuing operations 12.76% -5.69% 12.72% -2.22% 8.26%
Loss from discontinued operations, net of tax 0.00 -0.15 0.00 0.00 0.00
Net income (loss) 12.76% -5.84% 12.72% -2.22% 8.26%
Net income attributable to noncontrolling interest -1.00 -1.22 -0.83 -0.79 -0.59
Net income (loss) attributable to AT&T 11.76% -7.06% 11.89% -3.01% 7.67%
Preferred stock dividends -0.17 -0.17 -0.12 -0.11 0.00
Net income (loss) attributable to common stock 11.59% -7.23% 11.77% -3.13% 7.67%

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 income (loss) The net result for the period of deducting operating expenses from operating revenues. AT&T Inc. operating income (loss) as a percentage of operating revenues 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 as a percentage of operating revenues decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 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 as a percentage of operating revenues decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.