Set-of-Mark extraction review — before (table + bounding box) | after (final markdown)

Left: the page cropped around the table with its Set-of-Mark bounding box drawn. Right: the final corrected markdown. One row per table.

TMUS_992_Q324.pdf

46 tables

p2 · table 1 · Contents

units=(none) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True

before — table + bounding box

after — final markdown

PageSection
3Highlights
4Customer Metrics
7Financial Metrics
13Capital Structure
14Guidance
15Contacts
16Financial and Operational Tables

p3 · table 2 · Footnotes

units=(none) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True

before — table + bounding box

after — final markdown

FootnoteText
(1)AT&T Inc. historically does not disclose postpaid net account additions. Comcast and Charter do not disclose postpaid phone net customer additions. Industry leading claims are based on consensus expectations if results are not yet reported.
(2)Core Adjusted EBITDA and Adjusted Free Cash Flow are non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with GAAP. Reconciliations for these non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures tables. We are not able to forecast Net income on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect Net income, including, but not limited to, Income tax expense and Interest expense. Core Adjusted EBITDA should not be used to predict Net income as the difference between this measure and Net income is variable.

p4 · table 3 · Postpaid Accounts

units=(in thousands) · flavor=stream · camelot_accuracy=97.0 · llm_corrected=True

before — table + bounding box

after — final markdown

PeriodPostpaid AccountsPostpaid Net Account Additions
Q3 202329,498386
Q4 202329,797299
Q1 202430,015218
Q2 202430,316301
Q3 202430,631315

p4 · table 4 · Postpaid ARPA & Postpaid Phone ARPU

units=(none) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True

before — table + bounding box

after — final markdown

QuarterPostpaid ARPAPostpaid Phone ARPU
Q3 2023$139.83$48.93
Q4 2023$140.23$48.91
Q1 2024$140.88$48.79
Q2 2024$142.54$49.07
Q3 2024$145.60$49.79

p5 · table 5 · Postpaid Customers

units=(in thousands) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True

before — table + bounding box

after — final markdown

QuarterQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Total postpaid customers96,31298,05299,272100,610102,185
Postpaid phone net customer additions1,2261,5701,2201,3381,575
Postpaid other net customer additions376636688561710
 850934532777865

p5 · table 6 · Postpaid Phone Churn

units=(none) · flavor=stream · camelot_accuracy=82.1 · llm_corrected=True

before — table + bounding box

after — final markdown

PeriodQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Year-Over-Year0.96%
Sequential0.87%0.86%0.80%0.86%

p6 · table 7 · Prepaid Customers

units=(in thousands) · flavor=stream · camelot_accuracy=97.9 · llm_corrected=True

before — table + bounding box

after — final markdown

QuarterPrepaid CustomersPrepaid Net Customer Additions (Losses)
Q3 202321,59579
Q4 202321,64853
Q1 202421,600(48)
Q2 202425,283179
Q3 202425,30724

p6 · table 8 · High Speed Internet Customers

units=(in thousands) · flavor=stream · camelot_accuracy=90.5 · llm_corrected=True

before — table + bounding box

after — final markdown

MetricQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Postpaid High Speed Internet net customer additions505541405406415
Prepaid High Speed Internet net customer additions557541405406415
High Speed Internet customers4,2354,7765,1815,5876,002

p7 · table 9 · Service Revenues

units=($ in millions) · flavor=stream · camelot_accuracy=99.6 · llm_corrected=True

before — table + bounding box

after — final markdown

Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024
$15,914$16,043$16,096$16,429$16,725

p7 · table 10 · Year-Over-Year Postpaid Service Revenues

units=($ in millions) · flavor=stream · camelot_accuracy=92.2 · llm_corrected=True

before — table + bounding box

after — final markdown

PeriodDriverQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Year-Over-YearHigher postpaid ARPA$13,308
Higher average postpaid accounts$12,899
$12,631
$12,472
$12,288
SequentialHigher postpaid ARPA
Higher average postpaid accounts

p8 · table 11 · Equipment Revenues

units=($ in millions) · flavor=stream · camelot_accuracy=99.9 · llm_corrected=True

before — table + bounding box

after — final markdown

QuarterEquipment SalesLease Revenues
Q3 2023$3,076
Q4 2023$4,131
Q1 2024$3,216$3,251
Q2 2024$3,080$3,106
Q3 2024$3,186$3,207

p8 · table 12 · Cost of Equipment Sales, exclusive of D&A

units=($ in millions) · flavor=stream · camelot_accuracy=89.0 · llm_corrected=True

before — table + bounding box

after — final markdown

QuarterQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Cost of Equipment sales, excl. D&A$4,249$5,608$4,399$4,088$4,307
% of Equipment sales, excl. D&A140.6%135.8%136.8%132.7%135.2%

p9 · table 13 · Cost of Services, exclusive of D&A

units=($ in millions, % of Service revenues) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True

before — table + bounding box

after — final markdown

PeriodQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Cost of services, ex. D&A and Special Items$2,886$2,792$2,688$2,664$2,722
Merger-related costs$2,612$2,646$2,580$2,591$2,655
% of Srvc revs, ex. D&A and Special Items16.4%16.5%16.0%15.8%15.9%

p9 · table 14 · Selling, General and Administrative (SG&A) Expense

units=($ in millions, % of Service revenues) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True

before — table + bounding box

after — final markdown

MetricQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
SG&A expense, ex. Special Items$5,334$5,280$5,138$5,142$5,186
Merger-related costs (gain), net$4,940$5,164$5,103$5,187$5,100
Other Special Items
% of Srvc revs, ex. Special Items31.0%32.2%31.7%31.6%30.5%

p10 · table 15 · Net Income

units=($ in millions, % of Service revenues) · flavor=stream · camelot_accuracy=98.4 · llm_corrected=True

before — table + bounding box

after — final markdown

QuarterNet Income% of Service Revenues
Q3 2023$2,14213.5%
Q4 2023$2,01412.6%
Q1 2024$2,37414.7%
Q2 2024$2,92517.8%
Q3 2024$3,05918.3%

p10 · table 16 · Diluted Earnings Per Share

units=(none) · flavor=stream · camelot_accuracy=91.1 · llm_corrected=True

before — table + bounding box

after — final markdown

Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024
$1.82$1.67$2.00$2.49$2.61

p11 · table 17 · Core Adjusted EBITDA*

units=(none) · flavor=stream · camelot_accuracy=97.4 · llm_corrected=True

before — table + bounding box

after — final markdown

QuarterCore Adjusted EBITDAPercentage of Service Revenues
Q3 2023$7,54747.4%
Q4 2023$7,18144.8%
Q1 2024$7,61747.3%
Q2 2024$8,02748.9%
Q3 2024$8,22249.2%

p11 · table 18 · Year-Over-Year Net Cash Provided by Operating Activities

units=($ in millions) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True

before — table + bounding box

after — final markdown

PeriodQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Net cash provided by operating activities$5,294$4,859$5,084$5,521$6,139

p12 · table 19 · Cash Purchases of Property and Equipment, incl. Capitalized Interest

units=($ in millions, % of Service revenues) · flavor=stream · camelot_accuracy=91.5 · llm_corrected=True

before — table + bounding box

after — final markdown

QuarterQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Cash Purchases ($ millions)$2,424$1,587$2,627$2,040$1,961
% of Service Revenues15.2%9.9%16.3%12.4%11.7%

p12 · table 20 · Adjusted Free Cash Flow

units=($ in millions) · flavor=stream · camelot_accuracy=87.3 · llm_corrected=True

before — table + bounding box

after — final markdown

PeriodQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Year-Over-Year
Adjusted Free Cash Flow increased 29% primarily due to:
â–  Higher Net cash provided by operating activities
â–  Lower Cash purchases of property and equipment
â–  Partially offset by lower proceeds related to securitization transactions, which were offset in Net cash provided by operating activities. There were no significant net cash proceeds during the quarter from securitization.$4,003$4,305$3,347$4,439$5,162
Sequential
Adjusted Free Cash Flow increased 16% primarily due to:
â–  Higher Net cash provided by operating activities
The impact of net payments for Merger-related costs on Adjusted Free Cash Flow was $124 million in Q3 2024

p13 · table 21 · Net Debt (Excluding Tower Obligations) & Net Debt to LTM Net Income and Core Adj. EBITDA Ratios

units=($ in billions) · flavor=stream · camelot_accuracy=99.5 · llm_corrected=True

before — table + bounding box

after — final markdown

MetricQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024
Net Debt (excluding Tower Obligations)$72.8$72.4$73.9$73.5$72.6
Net Debt to LTM Net Income Ratio9.4x8.7x8.4x7.8x7.0x
Net Debt to LTM Core Adjusted EBITDA Ratio2.6x2.5x2.5x2.4x2.3x

p13 · table 22 · Stockholder Returns

units=($ in millions) · flavor=stream · camelot_accuracy=94.8 · llm_corrected=True

before — table + bounding box

after — final markdown

QuarterStock buybacksDividends paid
Q3 2023$2,675
Q4 2023$2,988$747
Q1 2024$3,568$769
Q2 2024$3,036$2,277
Q3 2024$4,337$1,402
$758
$644

p14 · table 23 · 2024 Outlook

units=(none) · flavor=stream · camelot_accuracy=88.1 · llm_corrected=True

before — table + bounding box

after — final markdown

MetricPreviousRevisedChange at Midpoint
Postpaid net customer additions5.4 to 5.7 million5.6 to 5.8 million150 thousand
Net income (1)N/AN/AN/A
Effective tax rate24% to 25%~24%(50) bps
Core Adjusted EBITDA (2)$31.5 to $31.8 billion$31.6 to $31.8 billion$50 million
Net cash provided by operating activities$21.8 to $22.2 billion$22.0 to $22.3 billion$150 million
Capital expenditures (3)$8.7 to $9.1 billion$8.8 to $9.0 billionNo change
Adjusted Free Cash Flow (4)$16.6 to $17.0 billion$16.7 to $17.0 billion$50 million

p16 · table 24 · T-Mobile US, Inc. Condensed Consolidated Balance Sheets (Unaudited)

units=(in millions, except share and per share amounts) · flavor=stream · camelot_accuracy=99.4 · llm_corrected=True

before — table + bounding box

after — final markdown

September 30, 2024December 31, 2023
**Assets**
**Current assets**
Cash and cash equivalents$ 9,754$ 5,135
Accounts receivable, net of allowance for credit losses of $162 and $1614,2864,692
Equipment installment plan receivables, net of allowance for credit losses and imputed discount of $575 and $6233,5954,456
Inventory1,7891,678
Prepaid expenses953702
Other current assets2,1542,352
Total current assets22,53119,015
Property and equipment, net37,60340,432
Operating lease right-of-use assets25,83327,135
Financing lease right-of-use assets3,3523,270
Goodwill13,01512,234
Spectrum licenses98,73696,707
Other intangible assets, net2,7622,618
Equipment installment plan receivables due after one year, net of allowance for credit losses and imputed discount of $130 and $1501,7522,042
Other assets5,1584,229
**Total assets****$ 210,742****$ 207,682**
**Liabilities and Stockholders' Equity**
**Current liabilities**
Accounts payable and accrued liabilities$ 7,496$ 10,373
Short-term debt5,8513,619
Deferred revenue1,125825
Short-term operating lease liabilities3,3283,555
Short-term financing lease liabilities1,2521,260
Other current liabilities1,9031,296
Total current liabilities20,95520,928
Long-term debt72,52269,903
Long-term debt to affiliates1,4971,496
Tower obligations3,6953,777
Deferred tax liabilities15,84913,458
Operating lease liabilities26,82128,240
Financing lease liabilities1,1851,236
Other long-term liabilities3,9683,929
Total long-term liabilities125,537122,039
Commitments and contingencies
**Stockholders' equity**
Common stock, par value $0.00001 per share, 2,000,000,000 shares authorized; 1,270,824,969 and 1,262,904,154 shares issued, 1,164,613,922 and 1,195,807,331 shares outstanding——
Additional paid-in capital68,65967,705
Treasury stock, at cost, 106,211,047 and 67,096,823 shares issued(15,921)(9,373)
Accumulated other comprehensive loss(889)(964)
Retained earnings12,4017,347
Total stockholders' equity64,25064,715
**Total liabilities and stockholders' equity****$ 210,742****$ 207,682**

p17 · table 25 · T-Mobile US, Inc. Condensed Consolidated Statements of Comprehensive Income

units=(in millions, except share and per share amounts) · flavor=stream · camelot_accuracy=99.4 · llm_corrected=True

before — table + bounding box

after — final markdown

Three Months Ended September 30, 2024Three Months Ended June 30, 2024Three Months Ended September 30, 2023Nine Months Ended September 30, 2024Nine Months Ended September 30, 2023
Revenues
Postpaid revenues$ 13,308$ 12,899$ 12,288$ 38,838$ 36,220
Prepaid revenues2,7162,5922,4737,7117,334
Wholesale and other service revenues7019381,1532,7013,644
Total service revenues16,72516,42915,91449,25047,198
Equipment revenues3,2073,1063,0769,5649,964
Other revenues230237262714918
Total revenues20,16219,77219,25259,52858,080
Operating expenses
Cost of services, exclusive of depreciation and amortization shown separately below2,7222,6642,8868,0748,863
Cost of equipment sales, exclusive of depreciation and amortization shown separately below4,3074,0884,24912,79412,925
Selling, general and administrative5,1865,1425,33415,46616,031
Gain on disposal group held for sale————(25)
Depreciation and amortization3,1513,2483,1879,7709,500
Total operating expenses15,36615,14215,65646,10447,294
Operating income4,7964,6303,59613,42410,786
Other expense, net
Interest expense, net(836)(854)(790)(2,570)(2,486)
Other income (expense), net7(8)411956
Total other expense, net(829)(862)(749)(2,551)(2,430)
Income before income taxes3,9673,7682,84710,8738,356
Income tax expense(908)(843)(705)(2,515)(2,053)
Net income$ 3,059$ 2,925$ 2,142$ 8,358$ 6,303
Other comprehensive income, net of tax
Reclassification of loss from cash flow hedges, net of tax effect of $15, $15, $15, $45 and $42444341130121
Net unrealized loss on fair value hedges, net of tax effect of $(5), $(10), $0, $(15) and $0(12)(30)—(42)—
Unrealized gain on foreign currency translation adjustment, net of tax effect of $0, $0, $0, $0 and $0————9
Amortization of actuarial gain, net of tax effect of $(2), $(1), $(11), $(5) and $(11)(4)(4)(33)(13)(33)
Other comprehensive income28987597
Total comprehensive income$ 3,087$ 2,934$ 2,150$ 8,433$ 6,400
Earnings per share
Basic$ 2.62$ 2.50$ 1.83$ 7.12$ 5.28
Diluted$ 2.61$ 2.49$ 1.82$ 7.10$ 5.26
Weighted-average shares outstanding
Basic1,166,961,7551,170,025,8621,171,336,3731,174,069,3361,194,497,722
Diluted1,170,649,5611,172,447,3531,174,390,4721,177,637,1451,198,290,141

p18 · table 26 · T-Mobile US, Inc. Condensed Consolidated Statements of Cash Flows

units=(in millions) · flavor=stream · camelot_accuracy=98.9 · llm_corrected=True

before — table + bounding box

after — final markdown

Three Months Ended September 30, 2024Three Months Ended June 30, 2024Three Months Ended September 30, 2023Nine Months Ended September 30, 2024Nine Months Ended September 30, 2023
Operating activities
Net income$ 3,059$ 2,925$ 2,142$ 8,358$ 6,303
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization3,1513,2483,1879,7709,500
Stock-based compensation expense170164156474500
Deferred income tax expense8177476712,2791,985
Bad debt expense299255228836663
Losses from sales of receivables23254669135
Loss on remeasurement of disposal group held for sale————9
Changes in operating assets and liabilities
Accounts receivable(734)(1,286)(1,046)(2,436)(3,828)
Equipment installment plan receivables(72)155165360563
Inventory(448)221(309)(57)182
Operating lease right-of-use assets8778728862,6052,823
Other current and long-term assets(19)(416)(135)(275)77
Accounts payable and accrued liabilities(165)38208(1,861)(1,538)
Short- and long-term operating lease liabilities(805)(1,148)(692)(2,970)(2,884)
Other current and long-term liabilities(125)(360)(260)(657)(909)
Other, net1118147249119
Net cash provided by operating activities6,1395,5215,29416,74413,700
Investing activities
Purchases of property and equipment, including capitalized interest of $(9), $(8), $(66), $(26) and $(94)(1,961)(2,040)(2,424)(6,628)(8,214)
Purchases of spectrum licenses and other intangible assets, including deposits(2,419)(156)(119)(2,636)(225)
Proceeds from sales of tower sites——2—10
Proceeds related to beneficial interests in securitization transactions9849581,1312,8323,785
Acquisition of companies, net of cash acquired—(390)—(390)—
Other, net89(50)175036
Net cash used in investing activities(3,307)(1,678)(1,393)(6,772)(4,608)
Financing activities
Proceeds from issuance of long-term debt2,4802,1361,9838,0898,446
Repayments of financing lease obligations(347)(351)(304)(1,025)(914)
Repayments of long-term debt(223)(2,723)(4,474)(3,169)(4,828)
Repurchases of common stock(560)(2,387)(2,681)(6,541)(10,891)
Dividends on common stock(758)(759)—(2,286)—
Tax withholdings on share-based awards(36)(16)(10)(244)(267)
Other, net(49)(34)(24)(117)(113)
Net cash provided by (used in) financing activities507(4,134)(5,510)(5,293)(8,567)
Change in cash and cash equivalents, including restricted cash and cash held for sale3,339(291)(1,609)4,679525
Cash and cash equivalents, including restricted cash and cash held for sale
Beginning of period6,6476,9386,8085,3074,674
End of period$ 9,986$ 6,647$ 5,199$ 9,986$ 5,199

p19 · table 27 · T-Mobile US, Inc.

units=(in millions) · flavor=stream · camelot_accuracy=96.0 · llm_corrected=True

before — table + bounding box

after — final markdown

Three Months Ended September 30, 2024Three Months Ended June 30, 2024Three Months Ended September 30, 2023Nine Months Ended September 30, 2024Nine Months Ended September 30, 2023
Supplemental disclosure of cash flow information
Interest payments, net of amounts capitalized$ 947$ 935$ 915$ 2,778$ 2,651
Operating lease payments1,1271,4571,0373,9283,834
Income tax payments501074164126
Non-cash investing and financing activities
Non-cash beneficial interest obtained in exchange for securitized receivables$ 789$ 833$ 920$ 2,283$ 3,148
Change in accounts payable and accrued liabilities for purchases of property and equipment41(232)(459)(1,085)(1,196)
Operating lease right-of-use assets obtained in exchange for lease obligations4693445631,3001,676
Financing lease right-of-use assets obtained in exchange for lease obligations409311398983961
Contingent and other deferred consideration related to the Ka'ena Acquisition—210—210—

p20 · table 28 · T-Mobile US, Inc. Supplementary Operating and Financial Data

units=(in thousands) · flavor=stream · camelot_accuracy=95.9 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
**Customers, end of period**
Postpaid phone customers (1)73,37274,13274,98275,93676,46877,24578,11074,98278,110
Postpaid other customers (1)20,15320,95421,33022,11622,80423,36524,07521,33024,075
Total postpaid customers93,52595,08696,31298,05299,272100,610102,18596,312102,185
Prepaid customers (2)21,39221,51621,59521,64821,60025,28325,30721,59525,307
Total customers114,917116,602117,907119,700120,872125,893127,492117,907127,492
Adjustments to customers (1) (2)———170—3,504——3,504

p20 · table 29 · Net customer additions (losses) and Postpaid customers

units=(in thousands) · flavor=stream · camelot_accuracy=99.2 · llm_corrected=True

before — table + bounding box

after — final markdown

(in thousands)Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Net customer additions (losses)
Postpaid phone customers5387608509345327778652,1482,174
Postpaid other customers7558013766366885617101,9321,959
Total postpaid customers1,2931,5611,2261,5701,2201,3381,5754,0804,133
Prepaid customers261247953(48)17924229155
Total net customer additions1,3191,6851,3051,6231,1721,5171,5994,3094,288
Migrations from prepaid to postpaid plans145140155170145140175440460

p20 · table 30 · Churn

units=(none) · flavor=stream · camelot_accuracy=97.5 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Churn
Postpaid phone churn0.89%0.77%0.87%0.96%0.86%0.80%0.86%0.84%0.84%
Prepaid churn2.76%2.62%2.81%2.86%2.75%2.54%2.78%2.73%2.69%

p20 · table 31 · Postpaid upgrade rate and Postpaid device upgrade rate

units=(none) · flavor=stream · camelot_accuracy=95.7 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Postpaid upgrade rate
Postpaid device upgrade rate3.2 %2.6 %2.7 %3.2 %2.4 %2.3 %2.6 %8.5 %7.5 %

p21 · table 32 · T-Mobile US, Inc. Supplementary Operating and Financial Data

units=(in thousands) · flavor=stream · camelot_accuracy=90.3 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Accounts, end of period
Total postpaid customer accounts28,81329,11229,49829,79730,01530,31630,63129,49830,631

p21 · table 33 · Net account additions

units=(in thousands) · flavor=stream · camelot_accuracy=96.0 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Postpaid net account additions287299386299218301315972834

p21 · table 34 · High speed internet customers, end of period

units=(in thousands) · flavor=stream · camelot_accuracy=97.8 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Postpaid high speed internet customers2,8553,3023,8074,2884,6344,9925,3773,8075,377
Prepaid high speed internet customers314376428488547595625428625
Total high speed internet customers, end of period3,1693,6784,2354,7765,1815,5876,0024,2356,002

p21 · table 35 · High Speed Internet - Net Customer Additions

units=(in thousands) · flavor=stream · camelot_accuracy=97.8 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Postpaid high speed internet customers4454475054813463583851,3971,089
Prepaid high speed internet customers78625260594830192137
Total high speed internet net customer additions5235095575414054064151,5891,226

p21 · table 36 · Device financing - equipment installment plans

units=(in millions) · flavor=stream · camelot_accuracy=97.5 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Gross EIP financed$ 3,335$ 2,858$ 3,116$ 4,275$ 3,218$ 3,037$ 3,304$ 9,309$ 9,559
EIP billings3,8713,7323,6223,8293,8803,6043,42311,22510,907
EIP receivables, net7,2626,7456,3496,4985,9675,5565,3476,3495,347

p21 · table 37 · Device financing - leased devices

units=(none) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=False

before — table + bounding box

after — final markdown

Device financing - leased devices
Lease revenues$147$69$53$43$35$26$21$269$82
Leased device depreciation5846372922151114148

p21 · table 38 · Operating measures

units=(in dollars) · flavor=stream · camelot_accuracy=97.7 · llm_corrected=True

before — table + bounding box

after — final markdown

Operating measuresQ1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Postpaid ARPA$ 138.04$ 138.94$ 139.83$ 140.23$ 140.88$ 142.54$ 145.60$ 138.94$ 143.02
Postpaid phone ARPU48.6348.8448.9348.9148.7949.0749.7948.8049.22
Prepaid ARPU37.9837.9838.1837.5537.1835.9435.8138.0536.27

p22 · table 39 · T-Mobile US, Inc. Supplementary Operating and Financial Data (continued)

units=(in millions, except percentages) · flavor=stream · camelot_accuracy=99.2 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Financial measures
Service revenues$ 15,546$ 15,738$ 15,914$ 16,043$ 16,096$ 16,429$ 16,725$ 47,198$ 49,250
Equipment revenues$ 3,719$ 3,169$ 3,076$ 4,174$ 3,251$ 3,106$ 3,207$ 9,964$ 9,564
Lease revenues14769534335262126982
Equipment sales$ 3,572$ 3,100$ 3,023$ 4,131$ 3,216$ 3,080$ 3,186$ 9,695$ 9,482
Total revenues$ 19,632$ 19,196$ 19,252$ 20,478$ 19,594$ 19,772$ 20,162$ 58,080$ 59,528
Net income$ 1,940$ 2,221$ 2,142$ 2,014$ 2,374$ 2,925$ 3,059$ 6,303$ 8,358
Net income margin12.5 %14.1 %13.5 %12.6 %14.7 %17.8 %18.3 %13.4 %17.0 %
Adjusted EBITDA$ 7,199$ 7,405$ 7,600$ 7,224$ 7,652$ 8,053$ 8,243$ 22,204$ 23,948
Adjusted EBITDA margin46.3 %47.1 %47.8 %45.0 %47.5 %49.0 %49.3 %47.0 %48.6 %
Core Adjusted EBITDA$ 7,052$ 7,336$ 7,547$ 7,181$ 7,617$ 8,027$ 8,222$ 21,935$ 23,866
Core Adjusted EBITDA margin45.4 %46.6 %47.4 %44.8 %47.3 %48.9 %49.2 %46.5 %48.5 %
Cost of services, exclusive of depreciation and amortization$ 3,061$ 2,916$ 2,886$ 2,792$ 2,688$ 2,664$ 2,722$ 8,863$ 8,074
Merger-related costs20817812014610773—506180
Other Special Items2318154—1—6719568
Cost of services, excluding depreciation and amortization and Special Items$ 2,830$ 2,720$ 2,612$ 2,646$ 2,580$ 2,591$ 2,655$ 8,162$ 7,826
Cost of equipment sales, exclusive of depreciation and amortization$ 4,588$ 4,088$ 4,249$ 5,608$ 4,399$ 4,088$ 4,307$ 12,925$ 12,794
Merger-related recoveries(9)—(3)————(12)—
Cost of equipment sales, excluding depreciation and amortization and Special Items$ 4,597$ 4,088$ 4,252$ 5,608$ 4,399$ 4,088$ 4,307$ 12,937$ 12,794
Selling, general and administrative$ 5,425$ 5,272$ 5,334$ 5,280$ 5,138$ 5,142$ 5,186$ 16,031$ 15,466
Merger-related costs (gain), net159983510223(82)—292(59)
Other Special Items873635914123786482135
Selling, general and administrative, excluding Special Items$ 5,179$ 5,138$ 4,940$ 5,164$ 5,103$ 5,187$ 5,100$ 15,257$ 15,390
Total bad debt expense and losses from sales of receivables$ 260$ 264$ 274$ 265$ 303$ 280$ 322$ 798$ 905
Bad debt and losses from sales of receivables as a percentage of Total revenues1.3 %1.4 %1.4 %1.3 %1.5 %1.4 %1.6 %1.4 %1.5 %
Cash purchases of property and equipment including capitalized interest$ 3,001$ 2,789$ 2,424$ 1,587$ 2,627$ 2,040$ 1,961$ 8,214$ 6,628
Capitalized interest141466109899426
Net cash proceeds from securitization$ (29)$ (31)$ (33)$ (21)$ (29)$ (30)$ (29)$ (93)$ (88)
Net cash payments for Merger-related costs$ 484$ 728$ 345$ 416$ 293$ 241$ 124$ 1,557$ 658

p22 · table 40 · Stockholder returns

units=(in millions, except share and per share amounts) · flavor=stream · camelot_accuracy=99.3 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Stockholder returns
Total repurchases$ 4,766$ 3,525$ 2,675$ 2,241$ 3,568$ 2,277$ 644$ 10,966$ 6,489
Total shares repurchased32,963,94025,183,83819,313,15915,464,10721,933,79013,979,8433,179,70777,460,93739,093,340
Average purchase price per share$ 144.57$ 140.00$ 138.48$ 144.95$ 162.69$ 162.85$ 202.45$ 141.57$ 165.98
Total dividends paid$ —$ —$ —$ 747$ 769$ 759$ 758$ —$ 2,286
Dividends per share$ —$ —$ —$ 0.65$ 0.65$ 0.65$ 0.65$ —$ 1.95
Total stockholder returns$ 4,766$ 3,525$ 2,675$ 2,988$ 4,337$ 3,036$ 1,402$ 10,966$ 8,775
Cumulative total repurchases$ 7,766$ 11,291$ 13,966$ 16,207$ 19,775$ 22,052$ 22,696$ 13,966$ 22,696
Cumulative shares repurchased54,325,34979,509,18798,822,346114,286,453136,220,243150,200,086153,379,79398,822,346153,379,793
Cumulative stockholder returns$ 7,766$ 11,291$ 13,966$ 16,954$ 21,291$ 24,327$ 25,729$ 13,966$ 25,729

p23 · table 41 · Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures

units=(in millions, except percentages) · flavor=stream · camelot_accuracy=95.1 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Net income$ 1,940$ 2,221$ 2,142$ 2,014$ 2,374$ 2,925$ 3,059$ 6,303$ 8,358
Adjustments:
Interest expense, net8358617908498808548362,4862,570
Other (income) expense, net(9)(6)(41)(12)(20)8(7)(56)(19)
Income tax expense6317177056297648439082,0532,515
Operating income3,3973,7933,5963,4803,9984,6304,79610,78613,424
Depreciation and amortization3,2033,1103,1873,3183,3713,2483,1519,5009,770
Stock-based compensation (1)173155152164140147143480430
Merger-related costs (gain), net (2)358276152248130(9)—786121
Legal-related (recoveries) expenses, net (3)(43)——1—151(43)16
(Gain) loss on disposal group held for sale(42)17—————(25)—
Other, net (4)15354513131322152720187
Adjusted EBITDA7,1997,4057,6007,2247,6528,0538,24322,20423,948
Lease revenues(147)(69)(53)(43)(35)(26)(21)(269)(82)
Core Adjusted EBITDA$ 7,052$ 7,336$ 7,547$ 7,181$ 7,617$ 8,027$ 8,222$ 21,935$ 23,866
Net income margin (Net income divided by Service revenues)12.5 %14.1 %13.5 %12.6 %14.7 %17.8 %18.3 %13.4 %17.0 %
Adjusted EBITDA margin (Adjusted EBITDA divided by Service revenues)46.3 %47.1 %47.8 %45.0 %47.5 %49.0 %49.3 %47.0 %48.6 %
Core Adjusted EBITDA margin (Core Adjusted EBITDA divided by Service revenues)45.4 %46.6 %47.4 %44.8 %47.3 %48.9 %49.2 %46.5 %48.5 %

p24 · table 42 · T-Mobile US, Inc.

units=(in millions, except net debt ratios) · flavor=stream · camelot_accuracy=98.8 · llm_corrected=True

before — table + bounding box

after — final markdown

Mar 31, 2023Jun 30, 2023Sep 30, 2023Dec 31, 2023Mar 31, 2024Jun 30, 2024Sep 30, 2024
Short-term debt$ 5,215$ 7,731$ 3,437$ 3,619$ 5,356$ 5,867$ 5,851
Short-term financing lease liabilities1,1801,2201,2861,2601,2651,2521,252
Long-term debt68,03568,64670,36569,90371,36170,20372,522
Long-term debt to affiliates1,4951,4951,4961,4961,4961,4961,497
Financing lease liabilities1,2841,2541,2731,2361,1631,1331,185
Less: Cash and cash equivalents(4,540)(6,647)(5,030)(5,135)(6,708)(6,417)(9,754)
Net debt (excluding tower obligations)$ 72,669$ 73,699$ 72,827$ 72,379$ 73,933$ 73,534$ 72,553
Divided by: Last twelve months Net income$ 3,817$ 6,146$ 7,780$ 8,317$ 8,751$ 9,455$ 10,372
Net debt (excluding tower obligations) to LTM Net income Ratio19.012.09.48.78.47.87.0
Divided by: Last twelve months Adjusted EBITDA$ 28,070$ 28,471$ 29,032$ 29,428$ 29,881$ 30,529$ 31,172
Net debt (excluding tower obligations) to LTM Adjusted EBITDA Ratio2.62.62.52.52.52.42.3
Divided by: Last twelve months Core Adjusted EBITDA$ 26,980$ 27,698$ 28,517$ 29,116$ 29,681$ 30,372$ 31,047
Net debt (excluding tower obligations) to LTM Core Adjusted EBITDA Ratio2.72.72.62.52.52.42.3

p24 · table 43 · Adjusted Free Cash Flow is calculated as follows:

units=(in millions, except percentages) · flavor=stream · camelot_accuracy=98.8 · llm_corrected=True

before — table + bounding box

after — final markdown

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Nine Months Ended September 30, 2023Nine Months Ended September 30, 2024
Net cash provided by operating activities$ 4,051$ 4,355$ 5,294$ 4,859$ 5,084$ 5,521$ 6,139$ 13,700$ 16,744
Cash purchases of property and equipment, including capitalized interest(3,001)(2,789)(2,424)(1,587)(2,627)(2,040)(1,961)(8,214)(6,628)
Proceeds from sales of tower sites6222———10—
Proceeds related to beneficial interests in securitization transactions1,3451,3091,1311,0318909589843,7852,832
Adjusted Free Cash Flow$ 2,401$ 2,877$ 4,003$ 4,305$ 3,347$ 4,439$ 5,162$ 9,281$ 12,948
Net cash provided by operating activities margin26.1 %27.7 %33.3 %30.3 %31.6 %33.6 %36.7 %29.0 %34.0 %
Adjusted Free Cash Flow margin15.4 %18.3 %25.2 %26.8 %20.8 %27.0 %30.9 %19.7 %26.3 %

p25 · table 44 · The current guidance range for Adjusted Free Cash Flow is calculated as follows:

units=(in millions) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True

before — table + bounding box

after — final markdown

LowHigh
Net cash provided by operating activities$ 22,000$ 22,300
Cash purchases of property and equipment, including capitalized interest(8,800)(9,000)
Proceeds related to beneficial interests in securitization transactions (1)3,5003,700
Adjusted Free Cash Flow$ 16,700$ 17,000

p25 · table 45 · The previous guidance range for Adjusted Free Cash Flow was calculated as follows:

units=(in millions) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True

before — table + bounding box

after — final markdown

LowHigh
Net cash provided by operating activities$ 21,800$ 22,200
Cash purchases of property and equipment, including capitalized interest(8,700)(9,100)
Proceeds related to beneficial interests in securitization transactions (1)3,5003,900
Adjusted Free Cash Flow$ 16,600$ 17,000

p26 · table 46 · Definitions of Terms

units=(none) · flavor=stream · camelot_accuracy=94.9 · llm_corrected=True

before — table + bounding box

after — final markdown

#Definition
Operating and financial measures are utilized by T-Mobile's management to evaluate its operating performance and, in certain cases, its ability to meet liquidity requirements. Although companies in the wireless industry may not define measures in precisely the same way, T-Mobile believes the measures facilitate key operating performance comparisons with other companies in the wireless industry to provide management, investors and analysts with useful information to assess and evaluate past performance and assist in forecasting future performance.
1.**Account** - A billing account number that generates revenue. Postpaid accounts generally consist of customers that are qualified for postpaid service utilizing phones, High Speed Internet modems, mobile internet devices, including tablets and hotspots, wearables, DIGITS or other connected devices, including SyncUP and IoT, where they generally pay after receiving service.
2.**Customer** - A SIM number with a unique T-Mobile identifier which is associated with an account that generates revenue. Customers are qualified either for postpaid service utilizing phones, High Speed Internet modems, mobile internet devices, including tablets and hotspots, wearables, DIGITS or other connected devices, including SyncUP and IoT, where they generally pay after receiving service, or prepaid service, where they generally pay in advance of receiving service.
3.**Churn** - The number of customers whose service was deactivated as a percentage of the average number of customers during the specified period further divided by the number of months in the period. The number of customers whose service was deactivated is presented net of customers that subsequently have their service restored within a certain period of time and excludes customers who received service for less than a certain minimum period of time.
4.**Postpaid Average Revenue Per Account (Postpaid ARPA)** - Average monthly postpaid service revenue earned per account. Postpaid service revenues for the specified period divided by the average number of postpaid accounts during the period, further divided by the number of months in the period.<br/><br/>**Average Revenue Per User (ARPU)** - Average monthly service revenue earned per customer. Service revenues for the specified period divided by the average number of customers during the period, further divided by the number of months in the period. Postpaid phone ARPU excludes postpaid other customers and related revenues.<br/><br/>**Service revenues** - Postpaid, including handset insurance, prepaid, wholesale and other service revenues.
5.**Cost of services** - Costs directly attributable to providing wireless service through the operation of T-Mobile's network, including direct switch and cell site costs, such as rent, network access and transport costs, utilities, maintenance, associated labor costs, long distance costs, regulatory program costs, roaming fees paid to other carriers and data content costs.<br/><br/>**Cost of equipment sales** - Costs of devices and accessories sold to customers and dealers, device costs to fulfill insurance and warranty claims, write-downs of inventory related to shrinkage and obsolescence, and shipping and handling costs.<br/><br/>**Selling, general and administrative expenses** - Costs not directly attributable to providing wireless service for the operation of sales, customer care and corporate activities. These include all commissions paid to dealers and retail employees for activations and upgrades, labor and facilities costs associated with retail sales force and administrative space, marketing and promotional costs, customer support and billing, bad debt expense and administrative support activities.
6.**Net income margin** - Net income divided by Service revenues.
7.**Adjusted EBITDA and Core Adjusted EBITDA** - Adjusted EBITDA represents earnings before Interest expense, net of Interest income, Income tax expense, Depreciation and amortization, stock-based compensation and Special Items. Core Adjusted EBITDA represents Adjusted EBITDA less device lease revenues. Core Adjusted EBITDA and Adjusted EBITDA are non-GAAP financial measures utilized by T-Mobile's management to monitor the financial performance of our operations. T-Mobile historically used Adjusted EBITDA and T-Mobile currently uses Core Adjusted EBITDA internally as a measure to evaluate and compensate its personnel and management for their performance. T-Mobile uses Adjusted EBITDA and Core Adjusted EBITDA as benchmarks to evaluate its operating performance in comparison to competitors. Management believes analysts and investors use Core Adjusted EBITDA and Adjusted EBITDA as supplemental measures to evaluate overall operating performance and to facilitate comparisons with other wireless communications services companies because they are indicative of T-Mobile's ongoing operating performance and trends by excluding the impact of Interest expense from financing, non-cash depreciation and amortization from capital investments, non-cash stock-based compensation and Special Items. Management believes analysts and investors use Core Adjusted EBITDA because it normalizes for the transition in the company's device financing strategy, by excluding the impact of device lease revenues from Adjusted EBITDA, to align with the related depreciation expense on leased devices, which is excluded from the definition of Adjusted EBITDA. Core Adjusted EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation or as a substitute for Income from operations, Net income or any other measure of financial performance reported in accordance with U.S. Generally Accepted Accounting Principles ("GAAP").
8.**Special Items** - Certain expenses, gains, and losses which are not reflective of our ongoing performance. Special Items include Merger-related costs (gain), net, (Gain) loss on disposal groups held for sale, certain legal-related recoveries and expenses, restructuring costs not directly attributable to the Merger (including severance), and other non-core gains and losses.
9.**Adjusted EBITDA margin and Core Adjusted EBITDA margin** - Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Service revenues. Core Adjusted EBITDA margin is calculated as Core Adjusted EBITDA divided by Service revenues. Adjusted EBITDA margin and Core Adjusted EBITDA margin are non-GAAP financial measures utilized by T-Mobile's management to monitor the financial performance of our operations.
10.**Net cash provided by operating activities margin** - Net cash provided by operating activities margin is calculated as Net cash provided by operating activities divided by Service revenues.
11.**Adjusted Free Cash Flow** - Net cash provided by operating activities less cash payments for purchases of property and equipment, plus proceeds from sales of tower sites and proceeds related to beneficial interests in securitization transactions and less Cash payments for debt prepayment or debt extinguishment costs. Adjusted Free Cash Flow is utilized by T-Mobile's management, investors, and analysts of our financial information to evaluate cash available to pay debt, repurchase shares, pay dividends and provide further investment in the business.
12.**Adjusted Free Cash Flow margin** - Adjusted Free Cash Flow margin is calculated as Adjusted Free Cash Flow divided by Service revenues. Adjusted Free Cash Flow Margin is utilized by T-Mobile's management, investors, and analysts to evaluate the company's ability to convert service revenue efficiently into cash available to pay debt, repurchase shares, pay dividends and provide further investment in the business.