Pascal Desroches, senior executive vice president and chief financial officer, AT&T Inc., AT&T* (NYSE:T) spoke today at the Annual Deutsche Bank Media, Internet & Telecom Conference where he provided an update to shareholders. Desroches made the following points:
As AT&T indicated when it announced its fourth-quarter 2022 results, it plans to provide recast historical financial results in early March because it will no longer record prior service credit benefits to the individual business units with a corporate elimination. Instead, these credits will only be recorded in Other Income. Recast historical results will reflect adjustments in business unit margins, particularly Business and Consumer Wireline, with a corresponding benefit to the corporate segment. This change will not impact consolidated EBITDA or previously provided guidance — including expectations on the trajectory of the business units — for the year.
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