AT&T INC. (T) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Entertainment Group					49,995	50,660	35,294	22,233
Other	870	804	961	795	208	191	2,140	2,340
Business Solutions							71,127	70,606
Other	167,994	170,956	180,232	169,961	110,343	112,935	38,240	37,268
Total revenues [+]	168,864	171,760	181,193	170,756	160,546	163,786	146,801	132,447
Services						148,884	131,677	118,437
Revenue growth [+]	-1.7%	-5.2%	6.1%	6.4%	-2.0%	11.6%	10.8%	2.9%
Entertainment Group					-1.3%	43.5%	58.7%	3.2%
Other	8.2%	-16.3%	20.9%	282.2%	8.9%	-91.1%	-8.5%	5.3%
Business Solutions							0.7%	4.4%
Consumer Mobility							-4.6%	1.5%
Cost of goods sold	31,232	32,909	34,356	32,906	37,942	77,190	55,050	56,070
Gross profit	137,632	138,851	146,837	137,850	122,604	86,596	91,751	76,377
Gross margin	81.5%	80.8%	81.0%	80.7%	76.4%	52.9%	62.5%	57.7%
Selling, general and administrative	37,944	38,039	39,422	36,765	35,465	51,747	48,043	53,707
Equity in earnings	631	95	6	-48	128	98	79	175
Other operating expenses	53,479	65,891	51,243	46,559	42,782	-14,541	-3,093	-7,815
EBITDA [+]	46,840	35,016	56,178	54,478	44,485	49,488	46,880	30,660
EBITDA growth	33.8%	-37.7%	3.1%	22.5%	-10.1%	5.6%	52.9%	-38.4%
EBITDA margin	27.7%	20.4%	31.0%	31.9%	27.7%	30.2%	31.9%	23.1%
Depreciation and amortization	22,862	28,516	28,217	28,430	24,387	25,847	22,016	18,273
EBIT [+]	23,978	6,500	27,961	26,048	20,098	23,641	24,864	12,387
EBIT growth	268.9%	-76.8%	7.3%	29.6%	-15.0%	-4.9%	100.7%	-60.5%
EBIT margin	14.2%	3.8%	15.4%	15.3%	12.5%	14.4%	16.9%	9.4%
Interest expense	6,884	7,925	8,422	7,957	6,300	4,910	4,120	3,613
Interest expense	6,884	7,925	8,422	7,957	6,300	4,910	4,120	3,613
Other income (expense), net	9,853	-1,431	-1,071	6,782	1,341	1,081	-52	1,581
Pre-tax income	26,947	-2,856	18,468	24,873	15,139	19,812	20,692	10,355
Income taxes	5,468	965	3,493	4,920	-14,708	6,479	7,005	3,619
Tax rate	20.3%		18.9%	19.8%		32.7%	33.9%	34.9%
Minority interest	1,398	1,355	1,072	583	397	357	342	294
Net income	19,874	-5,369	13,900	19,370	29,450	12,976	13,345	6,442
Net margin	11.8%	-3.1%	7.7%	11.3%	18.3%	7.9%	9.1%	4.9%

Basic EPS [+]	$2.77	($0.75)	$1.90	$2.86	$4.78	$2.10	$2.37	$1.24
Growth	-469.6%	-139.5%	-33.5%	-40.2%	127.1%	-11.3%	91.6%	-63.9%
Diluted EPS [+]	$2.76	($0.75)	$1.89	$2.85	$4.76	$2.10	$2.36	$1.23
Growth	-469.3%	-139.5%	-33.5%	-40.2%	127.2%	-11.3%	91.6%	-63.9%

Dividends per share [+]	$2.08	$2.08	$2.05	$2.01	$1.97	$1.93	$1.89	$1.81
Growth	0.0%	1.5%	2.0%	2.0%	2.1%	2.1%	4.4%	0.0%

Shares outstanding (basic) [+]	7,168	7,157	7,319	6,778	6,164	6,168	5,628	5,205
Growth	0.2%	-2.2%	8.0%	10.0%	-0.1%	9.6%	8.1%	-3.0%
Shares outstanding (diluted) [+]	7,199	7,183	7,348	6,806	6,183	6,189	5,646	5,221
Growth	0.2%	-2.2%	8.0%	10.1%	-0.1%	9.6%	8.1%	-3.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.