AT&T Wireless 2014 Annual Report Download - page 8

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Financial results built on strength
It’s taken a tremendous amount of your
capital to strengthen our premier network
and lay the groundwork for our future –
nearly $140 billion over the past six years.2
We’ve been able to invest
at this level because we
have one of the strongest
balance sheets of any major
U.S. telecom company.
And it’s paid off with our having what I would
argue is the premier network – not just in
the U.S., but in the world. Now that we’ve
met our signifi cant network transformation
goals ahead of schedule, going forward you
can expect us to return to normal capital
expenditure levels.
Network of the Future
Hear how AT&T is leading the
mobile Internet revolution and
building the premier network to
meet demand for mobile data
Visit att.com/AR-premiernetwork for more information
6AT&T INC.
|
2014 Annual Report
Last year, we grew revenues to $132.4 billion,
grew adjusted earnings per share to $2.51,
generated $31.3 billion in cash from
operations and realized $8.1 billion more
from selling non-strategic assets. In addition
to investments in future growth, we also
increased our quarterly dividend for the 31st
consecutive year, and returned more than
$11 billion directly to shareowners through
dividends and share repurchases.
This kind of fi nancial strength that allows us
to invest in the future while returning value to
you will continue to be a hallmark of AT&T.
Looking ahead, I’m more confi dent than
ever that we have the right team and the
right strategy to defi ne the future, just as we
have shaped the past. As we execute that
vision, I want to thank you, as always, for your
continued confi dence in AT&T.
Sincerely,
Randall Stephenson
Chairman, Chief Executive Offi cer
and President
February 10, 2015