AT&T Wireless 2009 Annual Report Download

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People Innovating for People
AT&T Inc. 2009 Annual Report

Table of contents

  • Page 1
    People Innovating for People AT&T Inc. 2009 Annual Report

  • Page 2
    ... of our customers, employees and neighbors. We're an innovation company with a purpose - driving human progress. On The Cover Stephanie Le (left) and Sara Kahre (right) rely on AT&T's mobile broadband network - and the devices that run on it - to connect to the people, content and applications most...

  • Page 3
    ... for continued growth in key areas: We invested more than $17 billion in capital to move our business forward and deploy innovative network technologies that will drive new and better customer solutions. We led the industry in several growth categories, including mobile broadband and wireless, where...

  • Page 4
    ....1 AT&T's network supports more 3G HSPA broadband customers than any other carrier worldwide. Our early leadership, experience and expertise in this important area give us a distinct advantage going forward as more consumers and businesses adopt mobile broadband, applications and devices. Smartphone...

  • Page 5
    ...unmatched bundle of wireless and wired services that makes content and applications portable across all three screens people use most - TVs, computers and mobile devices. IP networks and data services Premier products and services. AT&T is a global leader in designing, building and managing advanced...

  • Page 6
    ...only provides users with what they need, it makes these shared solutions seamless and affordable for all our customers - from consumers and small businesses to multinational corporations. As a result, we're seeing an explosion in customers' data usage on our network: for example, mobile data traffic...

  • Page 7
    ... financial strength, the IP network capabilities, the investment strategy and the innovative, customer-focused solutions to accelerate our growth in key areas and further differentiate our company in the marketplace. We'll continue to execute on our strategy of connecting more people and machines to...

  • Page 8
    ... mobile devices - that people use to connect to their world. Their passion is developing integrated features that help consumers get more from their entertainment experience, at home and on the road. Want to program your DVR from your smartphone? Need a customized HD traffic map on your TV to speed...

  • Page 9
    ... mobile broadband traffic will benefit from these advanced speeds by the end of 2010. Industry-Leading Wireless Growth In 2009, AT&T led the industry in attracting customers, who chose AT&T for the nation's most advanced mobile broadband experience, feature-rich devices and broad access to mobile...

  • Page 10
    ...daily ritual. Their mom, Jodi, is there to help. And when she needs help, her iPhone is always nearby and ready with the answers. $14.1B $10.6B $6.9B $4.3B 06 07 08 09 Wireless Data Revenues AT&T's wireless data revenues increased more than 33 percent in 2009. Wireless data on AT&T's network...

  • Page 11
    ... and access to 140,000-plus applications on their wireless devices.3 Here's how AT&T customer Jodi Niblock puts it all to work on a daily basis: As a stay-at-home mom to Lexi, 10, and Brady, 7, Jodi Niblock is equal parts CEO and cruise director when it comes to managing her family's busy life...

  • Page 12
    ... her mobile phone nearby - she called 911 and knew that emergency personnel would arrive quickly. Text messages on AT&T's wireless network in 2009. "For 15 years, AT&T has always been there for my family and me." - Rod Eason Meanwhile, the DVR on their AT&T U-verse TV allows the Easons to make the...

  • Page 13
    ... 2,065K AT&T U-verse Video Subscribers AT&T now delivers AT&T U-verse TV service to 2.1 million homes - nearly double the total at year-end 2008. And AT&T added more wired video subscribers in 2009 than any other cable or telephone company. Rod connects with his family through their shared love of...

  • Page 14
    4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 16.3M 16.7M 16.9M 17.1M 17.3M Broadband Leadership Combining wired and 3G LaptopConnect cards, AT&T is the No. 1 provider of broadband service in the U.S. Tushar stays connected to the office and his family with AT&T U-verse and wireless service.

  • Page 15
    ... of help balancing his career and family life. Tushar's workday rarely ends when he leaves his office at a Fortune 50 company. So after he and his wife, Meg, get the kids to bed, Tushar uses wireless access to U-verse High Speed Internet to catch up on work e-mails, while Meg chooses a movie from...

  • Page 16
    ... of wireless and broadband networking to deliver innovative health care solutions such as electronic sharing of medical records, secure data exchange among physicians and remote patient monitoring. Lusheng is helping make the doctorpatient relationship more productive - developing new services with...

  • Page 17
    ... for small and medium businesses. And our local business search and advertising services offer opportunities for businesses and consumers to connect via print, Internet, mobile device and IPTV. No company does a better job of connecting businesses of all sizes to growth and opportunity than AT...

  • Page 18
    ... with customers in the markets it serves, Hertz uses AT&T's local business search advertising. More than a year ago, Hertz began using AT&T's wireless network to launch a new business model - Connect by Hertz, a global car-sharing club. The service offers consumers and businesses an economical...

  • Page 19
    New Yorker Jamie Pohlman uses Connect by Hertz to run errands around Manhattan. 17 AT&T 09 AR Business Solutions

  • Page 20
    ... As customers increasingly rely on IP communications solutions, AT&T's IP data revenues continue to grow at a strong pace - up nearly 18 percent in 2009. Charles Brumauld often fills up at the Shell station on Paris' Boulevard Raspail - one of thousands served by AT&T - before meeting friends...

  • Page 21
    ... becomes increasingly mobile, AT&T's mobility expertise allows them to stay connected with each other, and with their key customers, partners and vendors. With the AT&T solution, Shell has lowered the total management cost of its global network while achieving improved levels of service. Most...

  • Page 22
    ...of any U.S. wireless provider, with more phones working in more places. This gives more of our customers the freedom to stay connected, whether at home or in one of more than 220 countries around the globe. Here's how one global entrepreneur puts AT&T's mobile service to work for his business: While...

  • Page 23
    Thanks to AT&T, whether at home on the water or traveling the globe, Blake knows he can stay connected to work with his BlackBerry smartphone. And many members of his team - which has grown from five employees in 2006 to more than 75 today - do the same. 21 AT&T 09 AR Business Solutions

  • Page 24
    ... vehicles, which includes the largest U.S. corporate commitment to compressed natural gas vehicles to date. Building on AT&T's leadership, Katie works with several key entities, including the U.S. Department of Energy's Clean Cities Program, a government-industry alliance committed to accelerating...

  • Page 25
    ...helped make us the No. 1 communications company in the world. In turn, we invest in our workforce by creating high-tech jobs that pay well, offer good benefits and provide training and advancement opportunities. We invested more than $260 million in training and development for our employees in 2009...

  • Page 26
    ...is giving our kids the tools they'll need to succeed long after they've left our care. AT&T is helping young men and women like Chaltu build sustainable, successful futures." - Rev. L. Scott Donahue, President and CEO, Mercy Home for Boys & Girls 24 AT&T 09 AR Investing in Sustainable Communities

  • Page 27
    ... to build her math and reading abilities. Education coordinators gave her a wide range of individualized support, from strengthening her study skills to helping her choose a high school and accompanying her on college visits. And the skills she learned in Mercy Home's job-preparedness program helped...

  • Page 28
    ... Wi-Fi network. As he leaves for the meeting, he e-mails his assistant to let her know he'll be out of the office the rest of the day. It's a slow morning, so the assistant heads to the corner boutique to buy a gift she found on the store's AT&T-hosted Web site. She just needs to check it out...

  • Page 29
    ..., and supporting infrastructure, to create the connections that make our daily lives more productive. Each day AT&T enables millions of connections, all powered by our wireless, wired and Wi-Fi networks. Here's a look at one hour in the life of our network. Back at her desk, she sends a text to...

  • Page 30
    $123.0B Consolidated Revenue $12.5B Net Income Attributable to AT&T $9.7B Dividends Paid to Stockholders $34.4B Cash from Operating Activities $2.12 Earnings Per Share 2009 by the Numbers

  • Page 31
    ... Review 2009 Selected Financial and Operating Data Management's Discussion and Analysis of Financial Condition and Results of Operations Consolidated Financial Statements Notes to Consolidated Financial Statements Report of Management Report of Independent Registered Public Accounting Firm Report...

  • Page 32
    ... outstanding with dilution (000,000) End of period common shares outstanding (000,000) Operating Data Wireless customers (000)4 In-region network access lines in service (000)5 In-region broadband connections (000)6,7 Number of employees 1 2 1 $123,018 $101,526 $ 21,492 $ 3,379 $ 734 $ 152 $ 6,156...

  • Page 33
    ... voice connections decreased 11.4% in 2009. Business customers also disconnected switched access lines, reduced usage-based services and reduced print advertising. Customers disconnecting access lines switched to wireless, Voice over Internet Protocol (VoIP) and cable offerings for voice and data...

  • Page 34
    ... advertising and promotions expense. These decreases were partially offset by an increase in pension/OPEB expense, and higher commissions, customer service costs and IT/Interconnect costs resulting from wireless subscriber growth along with increased support for data services and integrated devices...

  • Page 35
    ...% of our 2009 total segment income as compared to 47% in 2008. This segment uses our regional, national and global network to provide consumer and business customers with landline voice and data communications services, AT&T U-verseSM TV, high-speed broadband and voice services (U-verse) and managed...

  • Page 36
    ... service areas ultimately identified in that ruling. We anticipate we will close the sales during the first half of 2010. As of December 31, 2009, the fair value of the assets subject to the sale, net of related liabilities, was $282. Since the properties we will acquire use a different network...

  • Page 37
    ... use of text messaging, Internet access, e-mail and other data services. We expect continued growth from data services, as more customers purchase advanced integrated devices and other emerging devices, such as netbooks, eReaders, and mobile navigation devices, and broadband laptop cards, and as...

  • Page 38
    ... equipment cost increases of $1,246, reflecting the higher cost of acquiring more advanced integrated devices compared to prior periods; • Interconnect, universal service fee (USF) and reseller expense increases of $426 due to higher network traffic and revenue growth; • upgrade...

  • Page 39
    ...is to offset these line losses by increasing non-access-line-related revenues from customer connections for data, video and voice. Additionally, we have the opportunity to increase Wireless segment revenues if customers choose AT&T Mobility as an alternative provider. Wireline operating margins...

  • Page 40
    ...(related to lower international long-distance revenue, and lower volume of calls from our declining national mass-market customer base), including portal fees, and $618 of pension/OPEB expense. Other cost reductions included decreases in other support cost of $616 primarily due to higher advertising...

  • Page 41
    ... current period reporting methodology. Revenue from retail payphone lines is reported in the Other segment. We are in the process of ending our retail payphone operations. 4 Total wired broadband connections include DSL, U-verse High Speed Internet access and satellite broadband. 5 Satellite service...

  • Page 42
    ...the sale of the independent line of business segment of the L.M. Berry Company. This decrease was partially offset by Internet advertising revenue growth of $132. The ongoing economic recession has reduced demand for advertising and customers have continued to shift to Internet-based search services...

  • Page 43
    ... and mobile navigation devices) and that all our major customer categories will continue to increase their use of Internet-based broadband/data services. We expect continuing declines in traditional access lines and in advertising from our print directories. Where available, our U-verse services are...

  • Page 44
    ... are in a growth period of wireless data usage and that there are substantial opportunities available for next-generation converged services that combine wireless, broadband, voice and video. Our Universal Mobile Telecommunications System/HighSpeed Downlink Packet Access 3G network technology covers...

  • Page 45
    ... "broadband Internet access service" and state that, subject to "reasonable network management," such a provider: • May not prevent any of its users from sending or receiving the lawful content of the user's choice over the Internet. • May not prevent any of its users from running the...

  • Page 46
    ... in the area of bundling of products and services, including wireless and video, large-business data services and broadband. In most markets, we compete with large cable companies, such as Comcast Corporation, Cox Communications, Inc. and Time Warner Cable Inc., for local, high-speed Internet and...

  • Page 47
    ... we expect that a 1.0% decrease in the assumed long-term rate of return would cause 2010 combined pension and postretirement cost to increase $639. Under GAAP, the expected long-term rate of return is calculated on the market-related value of assets (MRVA). GAAP requires that actual gains and losses...

  • Page 48
    ...one of the nationally recognized statistical rating organizations, denominated in U.S. dollars, and neither callable, convertible nor index linked. For the year ended December 31, 2009, we decreased our discount rate by 0.50%, resulting in an increase in our pension plan benefit obligation of $2,065...

  • Page 49
    ...Actual income taxes could vary from these estimates due to future changes in income tax law or the final review of our tax returns by federal, state or foreign tax authorities. In 2007, we adopted new GAAP rules and began accounting for uncertain tax positions under those provisions. As required, we...

  • Page 50
    ...) Dollars in millions except per share amounts New Accounting Standards Revenue Arrangements with Multiple Deliverables In October 2009, the Financial Accounting Standards Board (FASB) issued "Multiple-Deliverable Revenue Arrangements" (Accounting Standards Update (ASU) 2009-13), which addresses...

  • Page 51
    ... of the agreement. These agreements also provide for continued health care coverage with reasonable cost sharing. Health Care Legislation We provide a variety of medical and prescription drug benefits to certain active and retired employees under various plans. In 2009, the U.S. Senate and House of...

  • Page 52
    ...55 from the sale of securities, net of investments. • $51 related to other activities. Our capital expenditures are primarily for our wireless and wireline subsidiaries' networks, our U-verse services, and support systems for our communications services. Total capital spending in 2009 was $16...

  • Page 53
    ... will be guided by credit market conditions and interest rate trends. The emphasis of our financing activities will be the payment of dividends, subject to approval by our Board of Directors, and the repayment of debt. Other Our total capital consists of debt (long-term debt and debt maturing...

  • Page 54
    ..., as the fees would not be paid every year and the timing of such payments, if any, is uncertain. MARKET RISK We are exposed to market risks primarily from changes in interest rates and foreign currency exchange rates. These risks, along with other business risks, impact our cost of capital. It...

  • Page 55
    ...-denominated transactions, we often enter into foreign exchange contracts to provide currency at a fixed rate. Our policy is to measure the risk of adverse currency fluctuations by calculating the potential dollar losses resulting from changes in exchange rates that have a reasonable probability...

  • Page 56
    ... Board of Directors authorized a share repurchase plan of 400 million shares that expired at December 31, 2009. During 2009, we repurchased 133 thousand shares at a cost of $3. We anticipate concentrating on reducing debt levels in 2010. Total Number of Shares Purchased as Part of Publicly Announced...

  • Page 57
    ..., most companies' access to the credit markets, leading to significantly higher borrowing costs for companies or, in many cases, the inability of these companies to fund their ongoing operations. As a result, our larger customers, who tend to be heavy users of our data and wireless services, may...

  • Page 58
    ... national and supranational regulatory authorities in the market where service is provided. Our wireless subsidiaries are regulated to varying degrees by the FCC and some state and local agencies. Adverse rulings by the FCC relating to broadband issues could impede our ability to manage our networks...

  • Page 59
    ... significant technological changes and a dramatic increase in usage, in particular demand for and usage of data and other non-voice services. We must continually invest in our wireless network in order to continually improve our wireless service to meet this increasing demand and remain competitive...

  • Page 60
    ..., access charges, universal service, unbundled network elements and resale and wholesale rates, broadband deployment including our U-verse services, net neutrality, performance measurement plans, service standards and traffic compensation. • Enactment of additional state, federal and...

  • Page 61
    ...millions except per share amounts 2009 2008 2007 Operating Revenues Wireless service Voice Data Directory Other Total operating revenues Operating Expenses Cost of services and sales (exclusive of depreciation and amortization shown separately below) Selling, general and administrative Depreciation...

  • Page 62
    ... 31, 2009 2008 Assets Current Assets Cash and cash equivalents Accounts receivable - net of allowances for doubtful accounts of $1,205 and $1,270 Prepaid expenses Deferred income taxes Other current assets Total current assets Property, Plant and Equipment - Net Goodwill Licenses Customer Lists and...

  • Page 63
    ... on license exchange Changes in operating assets and liabilities: Accounts receivable Other current assets Accounts payable and accrued liabilities Share-based payment excess tax benefit Net income attributable to noncontrolling interest Other - net Total adjustments Net Cash Provided by Operating...

  • Page 64
    Consolidated Statements of Changes in Stockholders' Equity Dollars and shares in millions except per share amounts 2009 Shares Amount Shares 2008 Amount Shares 2007 Amount Common Stock Balance at beginning of year Issuance of shares Balance at end of year Additional Paid-In Capital Balance at ...

  • Page 65
    ... of Changes in Stockholders' Equity (continued) Dollars and shares in millions except per share amounts 2009 Amount 2008 Amount 2007 Amount Accumulated Other Comprehensive Income (Loss) Attributable to AT&T, net of tax: Balance at beginning of year Foreign currency translation adjustments, net of...

  • Page 66
    ... the accounts of the Company and our majority-owned subsidiaries and affiliates. Our subsidiaries and affiliates operate in the communications services industry both domestically and internationally, providing wireless and wireline communications services and equipment, managed networking, wholesale...

  • Page 67
    ... included changes to benefit plans, were recognized as if they were a liability assumed at the acquisition date. Amended GAAP for acquisitions requires the acquirer to recognize those costs separately from the business combination. We adopted the new guidance as of January 1, 2009, and applied it...

  • Page 68
    ... Securities See Note 9 for disclosures related to our investment securities, including available-for-sale securities. Revenue Recognition Revenues derived from wireless, local telephone, long-distance, data and video services are recognized when services are provided. This is based upon either usage...

  • Page 69
    ... account current collection trends as well as general economic factors, including bankruptcy rates. Credit risks are assessed based on historical write-offs, net of recoveries, as well as an analysis of the aged accounts receivable balances with allowances generally increasing as the receivable ages...

  • Page 70
    ... In November 2009, we acquired the assets of Centennial, a regional provider of wireless and wired communications services with approximately 865,000 customers as of December 31, 2009. Total consideration of $2,961 included $955 in cash for the redemption of Centennial's outstanding common stock and...

  • Page 71
    .... Other Acquisitions During 2009, we acquired a provider of mobile application solutions and a security consulting business for a combined $50 before closing costs. The fair value of the acquired businesses' net assets resulted in the recognition of $41 of goodwill and $3 in customer lists and other...

  • Page 72
    ...with wireless voice and advanced data communications services. The Wireline segment uses our regional, national and global network to provide consumer and business customers with landline voice and data communications services, AT&T U-verseSM TV, high-speed broadband and voice services (U-verse) and...

  • Page 73
    ... follows: At December 31, 2009 or for the year ended Wireless Wireline Advertising Solutions Other Consolidation and Elimination Consolidated Results Revenues from external customers Intersegment revenues Total segment operating revenues Operations and support expenses Depreciation and amortization...

  • Page 74
    ... life of the asset or asset group. Goodwill acquired relates primarily to the acquisition of Centennial and a provider of mobile application solutions (see Note 2). Changes to goodwill include adjustments totaling $90 related to wireless liabilities in connection with a business combination and...

  • Page 75
    ... a wireless provider in Mexico with telecommunications investments in the United States and Latin America. In 2007, Telmex's Board of Directors and shareholders approved a strategic initiative to split off its Latin American businesses and its Mexican yellow pages business to a new holding company...

  • Page 76
    ... Total notes and debentures Capitalized leases Total long-term debt, including current maturities Current maturities of long-term debt Total long-term debt 1 During 2009, we received net proceeds of $8,161 from the issuance of $8,228 in long-term debt. Debt proceeds were used for general corporate...

  • Page 77
    ...; however, any such terminated commitments may not be reinstated. Advances under this agreement may be used for general corporate purposes, including support of commercial paper borrowings and other short-term borrowings. There is no material adverse change provision governing the drawdown of...

  • Page 78
    ... prices, where available, or on the net present value method of expected future cash flows using current interest rates. The carrying value of debt with an original maturity of less than one year approximates market value. Investment Securities Our investment securities consist of available-for-sale...

  • Page 79
    ...hedged item affects earnings. Collateral and Credit-Risk Contingency We have entered into agreements with most of our derivative counterparties, establishing collateral thresholds based on respective credit ratings and netting agreements. At December 31, 2009, we held $222 of counterparty collateral...

  • Page 80
    ... rate locks Foreign exchange contracts Total Liability Derivatives $ 399 635 150 2 $1,186 December 31, 2009 Depreciation and amortization $ 18,796 Intangibles (nonamortizable) 1,990 Employee benefits (14,220) Net operating loss and other carryforwards (1,846) Investment in wireless partnership...

  • Page 81
    ... and cumulative effect of accounting changes is as follows: 2009 2008 2007 Taxes computed at federal statutory rate Increases (decreases) in income taxes resulting from: State and local income taxes - net of federal income tax benefit Other - net Total Effective Tax Rate $ 6,649 $7,057 $6,440...

  • Page 82
    ... exceeds a stated monthly amount. Management employees of former ATTC, BellSouth, AT&T Mobility and new hires after 2006 participate in cash balance pension plans. Nonmanagement employees' pension benefits are generally calculated using one of two formulas: benefits are based on a flat dollar amount...

  • Page 83
    ... 2009 2008 Postretirement Benefits 2009 2008 Current portion of employee benefit obligation1 $ - Employee benefit obligation2 (3,977) Net amount recognized $(3,977) 1 2 $ - $ (2,021) $ (729) (3,994) (22,691) (26,627) $(3,994) $(24,712) $(27,356) Net loss Prior service cost (credit) Total...

  • Page 84
    ... Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income Pension Benefits 2009 2008 2007 Postretirement Benefits 2009 2008 2007 Net loss (gain) Prior service cost (credit) Amortization of net loss (gain) Amortization of prior service cost (credit) Total recognized...

  • Page 85
    ... expenses and an annual 3% growth in dental claims. Due to benefit design changes (e.g., increased co-pays and deductibles for prescription drugs and certain medical services), we have generally experienced better-than-expected claims cost in recent years. The following table provides our assumed...

  • Page 86
    ...) Dollars in millions except per share amounts A one percentage-point change in the assumed combined medical and dental cost trend rate would have the following effects: One PercentagePoint Increase One PercentagePoint Decrease Increase (decrease) in total of service and interest cost components...

  • Page 87
    ...received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See "Fair Value Measurement" for further discussion. Investments in securities traded on a national securities exchange are valued at the last reported sales price...

  • Page 88
    ...Real assets Other Market value of securities on loan: Equities - domestic Equities - international U.S. government bonds and notes Corporate and other bonds and notes Collateral value of securities lending Total plan net assets at fair value Other assets (liabilities)1 Total Plan Net Assets 1 $ 49...

  • Page 89
    ...Pension Benefits Postretirement Benefits Medicare Subsidy Receipts The following tables present the components of net periodic benefit cost and other changes in plan assets and benefit obligations recognized in other comprehensive income: Net Periodic Benefit Cost 2009 2008 Service cost - benefits...

  • Page 90
    ...31, 2009, and $1,054 at December 31, 2008. Non-U.S. Plans As part of our ATTC acquisition, we acquired certain non-U.S. operations that have varying types of pension programs providing benefits for substantially all of their employees and, to a limited group, postemployment benefits. The net amounts...

  • Page 91
    ... nonvested stock units) to officers, employees, and directors pursuant to these various plans. The compensation cost that we have charged against income for our share-based payment arrangements was as follows: 2009 2008 2007 Performance stock units Stock options Restricted stock Other Total $290...

  • Page 92
    ... 164 million shares under this program. During the Annual Meeting of Shareholders in April 2009, shareholders approved the increase of authorized common shares of AT&T stock from 7 billion to 14 billion, with no change to the currently authorized 10 million preferred shares of AT&T stock. As of...

  • Page 93
    ... represents our quarterly financial results: Stock Price Calendar Quarter Total Operating Revenues Operating Income Net Income Net Income Attributable to AT&T Basic Earnings Per Share1 Diluted Earnings Per Share1 High Low Close 2009 First Second Third Fourth Annual 2008 First Second Third Fourth...

  • Page 94
    ... independent registered public accounting firm that audited the financial statements included in this Annual Report, has issued an attestation report on the company's internal control over financial reporting. Randall Stephenson Chairman of the Board, Chief Executive Officer and President Richard...

  • Page 95
    ... of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the...

  • Page 96
    ... reporting as of December 31, 2009, based on the COSO criteria. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of the Company as of December 31, 2009 and 2008, and the related consolidated...

  • Page 97
    ... 1998 Southern New England Telecommunications Director 1997-1998 Background: Marketing Chairman of the Board, Chief Executive Officer and President AT&T Inc. Dallas, Texas Director since 2005 Background: Telecommunications Retired Chairman of the Board Anheuser-Busch Companies, Inc. Director since...

  • Page 98
    ... 56 Senior Executive Vice President and General Counsel Jim Callaway, 63 Senior Executive Vice President- Executive Operations Ralph de la Vega, 58 President and Chief Executive Officer AT&T Mobility and Consumer Markets Ron Spears, 61 President and Chief Executive Officer AT&T Business Solutions...

  • Page 99
    .../investor.relations. Investor Relations Securities analysts and other members of the professional financial community may call the Investor Relations staff as listed on our Web site at www.att.com/investor.relations. Stock Trading Information AT&T Inc. is listed on the New York Stock Exchange...

  • Page 100
    AT&T Inc. | 208 S. Akard St. | Dallas, TX 75202 | att.com