AT&T Wireless 2008 Annual Report Download - page 24

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| AT&T Annual Report 2008
Selected Financial and Operating Data
Dollars in millions except per share amounts
At December 31 or for the year ended: 2008 2007 20062 20053 2004
Financial Data1
Operating revenues $124,028 $118,928 $ 63,055 $ 43,764 $ 40,733
Operating expenses $100,965 $ 98,524 $ 52,767 $ 37,596 $ 34,832
Operating income $ 23,063 $ 20,404 $ 10,288 $ 6,168 $ 5,901
Interest expense $ 3,390 $ 3,507 $ 1,843 $ 1,456 $ 1,023
Equity in net income of affiliates $ 819 $ 692 $ 2,043 $ 609 $ 873
Other income (expense) – net $ (589) $ 615 $ 393 $ 397 $ 1,414
Income taxes $ 7,036 $ 6,253 $ 3,525 $ 932 $ 2,186
Income from continuing operations $ 12,867 $ 11,951 $ 7,356 $ 4,786 $ 4,979
Income from discontinued operations, net of tax4 $ — $ — $ — $ — $ 908
Net income $ 12,867 $ 11,951 $ 7,356 $ 4,786 $ 5,887
Earnings per common share:
Income from continuing operations $ 2.17 $ 1.95 $ 1.89 $ 1.42 $ 1.50
Net income $ 2.17 $ 1.95 $ 1.89 $ 1.42 $ 1.78
Earnings per common share – assuming dilution:
Income from continuing operations $ 2.16 $ 1.94 $ 1.89 $ 1.42 $ 1.50
Net income $ 2.16 $ 1.94 $ 1.89 $ 1.42 $ 1.77
Total assets $265,245 $275,644 $270,634 $145,632 $110,265
Long-term debt $ 60,872 $ 57,255 $ 50,063 $ 26,115 $ 21,231
Construction and capital expenditures $ 20,335 $ 17,888 $ 8,393 $ 5,612 $ 5,130
Dividends declared per common share $ 1.61 $ 1.47 $ 1.35 $ 1.30 $ 1.26
Book value per common share $ 16.35 $ 19.09 $ 18.52 $ 14.11 $ 12.27
Ratio of earnings to fixed charges 4.75 4.91 5.01 4.11 6.32
Debt ratio 43.8% 35.7% 34.1% 35.9% 40.0%
Weighted-average common shares
outstanding (000,000) 5,927 6,127 3,882 3,368 3,310
Weighted-average common shares
outstanding with dilution (000,000) 5,958 6,170 3,902 3,379 3,322
End of period common shares outstanding (000,000) 5,893 6,044 6,239 3,877 3,301
Operating Data
Wireless customers (000)5 77,009 70,052 60,962 54,144 49,132
In-region network access lines in service (000)6 55,610 61,582 66,469 49,413 52,356
Broadband connections (000)7 16,322 14,802 12,170 6,921 5,104
Number of employees 302,660 309,050 304,180 189,950 162,700
1 Amounts in the above table have been prepared in accordance with U.S. generally accepted accounting principles.
2 Our 2006 income statement amounts reflect results from BellSouth Corporation (BellSouth) and AT&T Mobility LLC (AT&T Mobility), formerly Cingular Wireless LLC, for
the two days following the December 29, 2006 acquisition. Our 2006 balance sheet and end-of-year metrics include 100% of BellSouth and AT&T Mobility. Prior to the
December 29, 2006 BellSouth acquisition, AT&T Mobility was a joint venture in which we owned 60% and was accounted for under the equity method.
3 Our 2005 income statement amounts reflect results from AT&T Corp. for the 43 days following the November 18, 2005 acquisition. Our 2005 balance sheet and
end-of-year metrics include 100% of AT&T Corp.
4 Our financial statements reflect results from our sold directory advertising business in Illinois and northwest Indiana as discontinued operations. The operational results
and the gain associated with the sale of that business are presented in “Income from discontinued operations, net of tax.”
5 The number presented represents 100% of AT&T Mobility cellular/PCS customers. The 2004 number includes customers from the acquisition of AT&T Wireless Services, Inc.
6 In-region represents access lines serviced by our incumbent local exchange companies (in 22 states since the BellSouth acquisition and in 13 states prior to that
acquisition). Beginning in 2006, the number includes BellSouth lines in service.
7 Broadband connections include in-region DSL lines, in-region U-verse high-speed Internet access, satellite broadband and 3G LaptopConnect cards.