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    "title": "Q1 2026 Highlights - Key Financial Metrics",
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    "markdown": "| (1) | Industry-leading claims are based on consensus expectations if results are not yet reported. |\n| (2) | Core Adjusted EBITDA, Adjusted Free Cash Flow and Adjusted Free Cash Flow margin 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, Special Items, 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. |",
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    "title": "Postpaid Accounts",
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    "markdown": "| Quarter | Postpaid Accounts | Postpaid Net Account Additions |\n| --- | --- | --- |\n| Q1 2025 | 31,099 | 205 |\n| Q2 2025 | 31,502 | 318 |\n| Q3 2025 | 33,979 | 396 |\n| Q4 2025 | 34,240 | 261 |\n| Q1 2026 | 34,439 | 217 |",
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      "During Q2 2025, we acquired 85,000 postpaid accounts from Lumos.",
      "During Q3 2025, we acquired 1,448,000 postpaid accounts, net of certain base adjustments, through the UScellular acquisition.",
      "During Q3 2025, we acquired 633,000 postpaid accounts from Metronet and other acquisitions.",
      "During Q1 2026, we recognized a base adjustment to decrease postpaid accounts by 18,000, primarily due to combining certain business accounts that have multiple billing account numbers.",
      "These base adjustments had no impact on postpaid net account additions."
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    "markdown": "| Year-Over-Year | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| --- | --- | --- | --- | --- | --- |\n| Postpaid ARPA increased 4% primarily due to: |  |  |  |  |  |\n| The positive impact from rate plan optimizations and higher fee revenue, including from the adoption of new tax and fee exclusive plans |  |  |  |  | $151.93 |\n| An increase in customers per account, including from the continued adoption of 5G broadband and continued growth of T-Mobile for Business accounts, partially offset by fiber and UScellular accounts with fewer customers per account | $146.22 | $149.87 | $149.44 | $150.17 |  |\n| Partially offset by increased promotional activity, including the success of bundled offerings |  |  |  |  |  |\n| Sequential | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| Postpaid ARPA increased 1% primarily due to: |  |  |  |  |  |",
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    "markdown": "| | Year-Over-Year | | Postpaid Account Churn |\n| --- | --- | --- | --- |\n| Postpaid account churn increased 10 basis points primarily due to: | | | |\n| Higher industry switching | | | |\n| Higher average broadband-only accounts, including following the acquisitions of Metronet and Lumos | | | |\n| | Sequential | | |\n| Postpaid account churn was flat | | | |\n| | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| | 0.94% | 0.92% | 0.97% | 1.04% | 1.04% |",
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    "title": "Equipment Revenues",
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    "markdown": "| Quarter | Revenue |\n| --- | --- |\n| Q1 2025 | $3,704 |\n| Q2 2025 | $3,439 |\n| Q3 2025 | $3,465 |\n| Q4 2025 | $5,364 |\n| Q1 2026 | $3,996 |",
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      "Year-Over-Year: Equipment revenues increased 8% primarily due to: A higher average revenue per device sold, net of promotions, primarily driven by an increase in the high-end phone mix; Higher liquidation revenue primarily due to a higher number of liquidated devices and an increase in the high-end phone mix",
      "Sequential: Equipment revenues decreased 26% primarily due to: A seasonal decrease in the total number of devices sold; A lower average revenue per device sold, net of promotions, primarily due to a decrease in the high-end phone mix"
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    "title": "Cost of Equipment Sales, exclusive of D&A",
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    "markdown": "| | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| --- | --- | --- | --- | --- | --- |\n| Cost of Equipment sales, excl. D&A | $4,798 | $4,659 | $4,853 | $6,967 | $5,488 |\n| % of Equipment sales, excl. D&A | 129.6% | 135.7% | 140.2% | 129.9% | 137.4% |",
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    "title": "Cost of Services, exclusive of D&A",
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    "markdown": "| Quarter | Cost of services, ex. D&A and Special Items | UScellular merger-related costs | Other Special Items | % of Srvc revs, ex. D&A and Special Items |\n| --- | --- | --- | --- | --- |\n| Q1 2025 | $2,582 | | | 15.3% |\n| Q2 2025 | $2,689 | | | 15.4% |\n| Q3 2025 | $2,811 | | | 15.4% |\n| Q4 2025 | $3,031 | | | 16.2% |\n| Q1 2026 | $2,894 | | | 15.4% |",
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      "Cost of services, exclusive of D&A, increased 28% year-over-year primarily due to: Higher costs following the UScellular acquisition, including merger-related costs; Wholesale network access costs and amortization of customer installation fees paid to Metronet and Lumos",
      "Cost of services, exclusive of D&A, increased slightly sequentially primarily due to: Higher UScellular merger-related costs; Mostly offset by lower severance and related costs associated with the 2025-2026 workforce transformation and numerous immaterial items, including seasonality"
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    "title": "Selling, General and Administrative (SG&A) Expense ($ in millions, % of Service revenues)",
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    "markdown": "| Year-Over-Year | Selling, General and Administrative |\n| --- | --- |\n|  | (SG&A) Expense |\n| SG&A expense increased 9% primarily due to: | ($ in millions, % of Service revenues) |\n| \u25a0\nHigher costs following the UScellular acquisition, |  |\n| including merger-related costs | $6,570 |\n|  | $6,015\n$5,966 |\n| \u25a0\n$132 million of severance and related costs associated |  |\n|  | $5,488\n$5,397 |\n| with the 2025-2026 workforce transformation and | $6,106 |\n|  | $5,828 |\n|  | $5,709 |\n| reinvestment initiative | $5,415\n$5,415 |\n| \u25a0\nHigher bad debt expense |  |\n| \u25a0\nHigher advertising expense | 32.6%\n32.0%\n32.0% |\n|  | 31.1%\n30.3% |\n| Sequential | Q1 2025\nQ2 2025\nQ3 2025\nQ4 2025\nQ1 2026 |\n| SG&A expense decreased 9% primarily due to: | SG&A expense, ex. Special Items |\n|  | UScellular merger-related costs |\n| \u25a0\nSeasonally lower advertising and other selling expenses | Other Special Items |\n|  | % of Srvc revs, ex. Special Items |\n| \u25a0\nLower severance and related costs associated with the |  |\n| 2025-2026 workforce transformation and reinvestment |  |\n| initiative |  |",
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    "title": "Net Income",
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    "markdown": "| Quarter | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| --- | --- | --- | --- | --- | --- |\n| Net Income ($ millions) | $3,222 | $2,953 | $2,714 | $2,103 | $2,504 |\n| % of Service revenues | 17.4% | 18.5% | 14.9% | 11.2% | 13.3% |",
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      "Net income was $2.5 billion and Diluted earnings per share was $2.27 in Q1 2026, compared to $3.0 billion and $2.58 in Q1 2025, primarily due to the factors described above and included the following:",
      "UScellular merger-related costs, including accelerated depreciation, net of tax, of $476 million, or $0.43 per share, in Q1 2026 and $10 million, or $0.01 per share, in Q1 2025",
      "Severance and related costs associated with the 2025-2026 workforce transformation and reinvestment initiative, net of tax, of $105 million, or $0.10 per share, in Q1 2026",
      "Costs associated with the network restructuring initiative, including accelerated depreciation, net of tax, of $103 million, or $0.09 per share, in Q1 2026"
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    "title": "Core Adjusted EBITDA*",
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    "markdown": "| Quarter | Core Adjusted EBITDA | Margin % | Year-Over-Year | Sequential |\n| --- | --- | --- | --- | --- |\n| Q1 2025 | $8,258 | 48.8% | | |\n| Q2 2025 | $8,541 | 49.0% | | |\n| Q3 2025 | $8,680 | 47.6% | | |\n| Q4 2025 | $8,445 | 45.2% | | |\n| Q1 2026 | $9,240 | 49.1% | Core Adjusted EBITDA increased 12% primarily due to: Higher Total service revenues; Higher Equipment revenues, excluding Lease revenues; Partially offset by higher Cost of equipment sales, excluding Special Items, higher Cost of services, excluding Special Items, and higher SG&A expenses, excluding Special Items | Core Adjusted EBITDA increased 9% primarily due to: Lower Cost of equipment sales, excluding Special Items; Lower SG&A expenses, excluding Special Items; Lower Cost of services, excluding Special Items; Higher Total service revenues; Partially offset by lower Equipment revenues, excluding Lease revenues |",
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    "title": "Cash Purchases of Property and Equipment, incl. Capitalized Interest",
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    "markdown": "| Quarter | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| --- | --- | --- | --- | --- | --- |\n| Cash Purchases ($ millions) | $2,451 | $2,396 | $2,639 | $2,469 | $2,623 |\n| % of Service revenues | 14.5% | 13.7% | 14.5% | 13.2% | 13.9% |",
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      "Year-Over-Year: Cash purchases of property and equipment, including capitalized interest, increased 7% primarily due to: Planned timing of capital purchases, including for incremental capital expenditures following the UScellular acquisition",
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    "markdown": "| Period | Description | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| --- | --- | --- | --- | --- | --- | --- |\n| Year-Over-Year | Adjusted Free Cash Flow increased 5% primarily due to: | | | | | |\n| | Higher Net cash provided by operating activities | | | | | |\n| | Partially offset by higher Cash purchases of property and equipment | | | | | |\n| Sequential | Adjusted Free Cash Flow increased 10% primarily due to: | $4,396 | $4,596 | $4,818 | $4,185 | $4,599 |\n| | Higher Net cash provided by operating activities | | | | | |\n| | Partially offset by higher Cash purchases of property and equipment | | | | | |\n| | The impact of net payments for Merger-related costs on Adjusted Free Cash Flow was $153 million in Q1 2026 compared to $100 million in Q4 2025 and $70 million in Q1 2025. | | | | | |",
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    "title": "Total Debt (Excluding Tower Obligations), Net Debt (Excluding Tower Obligations), and Net Debt to LTM Net Income and Core Adj. EBITDA Ratios",
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    "markdown": "| Metric | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| --- | --- | --- | --- | --- | --- |\n| Total Debt (Excluding Tower Obligations) | $88.0 | $85.3 | $86.5 | $88.6 | $88.2 |\n| Net Debt (Excluding Tower Obligations) | $76.0 | $75.0 | $83.2 | $83.0 | $84.7 |\n| Net Debt to LTM Net Income Ratio | 6.4x | 6.1x | 7.0x | 7.5x | 8.0x |\n| Net Debt to LTM Core Adjusted EBITDA Ratio | 2.3x | 2.3x | 2.5x | 2.4x | 2.4x |",
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      "Total debt, excluding tower obligations, at the end of Q1 2026 was $88.2 billion.",
      "Net debt, excluding tower obligations, at the end of Q1 2026 was $84.7 billion.",
      "On December 11, 2025, the company announced that its Board of Directors authorized a stockholder return program for up to $14.6 billion that will run through December 31, 2026, consisting of additional repurchases of shares and payment of cash dividends with the next dividend payable June 11, 2026.",
      "On April 23, 2026, the company announced that its Board of Directors has increased the company's 2026 stockholder return authorization to up to $18.2 billion, representing an increase of up to $3.6 billion from its prior 2026 authorization.",
      "On a cumulative basis, since the company initiated its stockholder return program in Q3 2022, a total of $51.4 billion has been returned to stockholders as of March 31, 2026, with 239.4 million shares repurchased for $42.1 billion, and cumulative cash dividends of $9.3 billion.",
      "During Q1 2026, 23.3 million shares were repurchased for $4.9 billion.",
      "During Q1 2026, the company paid a cash dividend of $1.02 per share of common stock, or $1.1 billion, on March 12, 2026."
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    "markdown": "| Metric | Previous | Revised | Change at Midpoint |\n| --- | --- | --- | --- |\n| Postpaid net account additions | 900 thousand to 1.0 million | 950 thousand to 1.05 million | 50 thousand |\n| Net income (1) | N/A | N/A | N/A |\n| Effective tax rate | 25% to 26% | 25% to 26% | No change |\n| Core Adjusted EBITDA (2) | $37.0 to $37.5 billion | $37.1 to $37.5 billion | $50 million |\n| Net cash provided by operating activities | $28.0 to $28.7 billion | $28.1 to $28.7 billion | $50 million |\n| Capital expenditures (3) | ~$10.0 billion | ~$10.0 billion | No change |\n| Adjusted Free Cash Flow | $18.0 to $18.7 billion | $18.1 to $18.7 billion | $50 million |",
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    "markdown": "| | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| --- | --- | --- | --- | --- | --- |\n| Financial measures |  |  |  |  |  |\n| Service revenues | $ 16,925 | $ 17,438 | $ 18,241 | $ 18,702 | $ 18,831 |\n| Equipment revenues | $ 3,704 | $ 3,439 | $ 3,465 | $ 5,364 | $ 3,996 |\n| Lease revenues | 1 | 6 | 4 | 2 | 1 |\n| Equipment sales | $ 3,703 | $ 3,433 | $ 3,461 | $ 5,362 | $ 3,995 |\n| Total revenues | $ 20,886 | $ 21,132 | $ 21,957 | $ 24,334 | $ 23,107 |\n| Net income | $ 2,953 | $ 3,222 | $ 2,714 | $ 2,103 | $ 2,504 |\n| Net income margin | 17.4 % | 18.5 % | 14.9 % | 11.2 % | 13.3 % |\n| Adjusted EBITDA | $ 8,259 | $ 8,547 | $ 8,684 | $ 8,447 | $ 9,241 |\n| Adjusted EBITDA margin | 48.8 % | 49.0 % | 47.6 % | 45.2 % | 49.1 % |\n| Core Adjusted EBITDA | $ 8,258 | $ 8,541 | $ 8,680 | $ 8,445 | $ 9,240 |\n| Core Adjusted EBITDA margin | 48.8 % | 49.0 % | 47.6 % | 45.2 % | 49.1 % |\n| Cost of services, exclusive of depreciation and amortization | $ 2,602 | $ 2,717 | $ 2,873 | $ 3,305 | $ 3,339 |\n| UScellular merger-related costs | \u2014 | \u2014 | 7 | 24 | 344 |\n| Other Special Items | 20 | 28 | 55 | 250 | 101 |\n| Cost of services, exclusive of depreciation and amortization and Special Items | $ 2,582 | $ 2,689 | $ 2,811 | $ 3,031 | $ 2,894 |\n| Cost of equipment sales, exclusive of depreciation and amortization | $ 4,798 | $ 4,659 | $ 4,853 | $ 6,967 | $ 5,488 |\n| UScellular merger-related costs | \u2014 | \u2014 | 2 | 8 | 14 |\n| Other Special Items | \u2014 | \u2014 | \u2014 | \u2014 | 8 |\n| Cost of equipment sales, exclusive of depreciation and amortization and Special Items | $ 4,798 | $ 4,659 | $ 4,851 | $ 6,959 | $ 5,466 |\n| Selling, general and administrative | $ 5,488 | $ 5,397 | $ 6,015 | $ 6,570 | $ 5,966 |\n| UScellular merger-related costs | 14 | 33 | 64 | 111 | 48 |\n| Other Special Items | 59 | (51) | 123 | 353 | 209 |\n| Selling, general and administrative, excluding Special Items | $ 5,415 | $ 5,415 | $ 5,828 | $ 6,106 | $ 5,709 |\n| Total bad debt expense and losses from sales of receivables | $ 345 | $ 284 | $ 354 | $ 445 | $ 446 |\n| Bad debt and losses from sales of receivables as a percentage of Total revenues | 1.7 % | 1.3 % | 1.6 % | 1.8 % | 1.9 % |\n| Cash purchases of property and equipment including capitalized interest | $ 2,451 | $ 2,396 | $ 2,639 | $ 2,469 | $ 2,623 |\n| Capitalized interest | 10 | 10 | 13 | 10 | 7 |\n| Net cash proceeds from securitization | $ (26) | $ (23) | $ (25) | $ (22) | $ (20) |\n| Net payments for Merger-related costs | $ 70 | $ 92 | $ 96 | $ 100 | $ 153 |",
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    "markdown": "| | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| --- | --- | --- | --- | --- | --- |\n| Stockholder returns |  |  |  |  |  |\n| Total repurchases | $ 2,470 | $ 2,469 | $ 2,470 | $ 2,460 | $ 4,901 |\n| Total shares repurchased | 10,091,227 | 10,148,791 | 10,204,072 | 11,919,136 | 23,329,925 |\n| Average purchase price per share | $ 244.77 | $ 243.32 | $ 242.01 | $ 206.38 | $ 210.07 |\n| Total dividends paid | $ 1,003 | $ 996 | $ 987 | $ 1,135 | $ 1,120 |\n| Dividends per share | $ 0.88 | $ 0.88 | $ 0.88 | $ 1.02 | $ 1.02 |\n| Total stockholder returns | $ 3,473 | $ 3,465 | $ 3,457 | $ 3,595 | $ 6,021 |\n| Cumulative total repurchases | $ 29,785 | $ 32,254 | $ 34,724 | $ 37,184 | $ 42,085 |\n| Cumulative shares repurchased | 183,754,602 | 193,903,393 | 204,107,465 | 216,026,601 | 239,356,526 |\n| Cumulative stockholder returns | $ 34,835 | $ 38,300 | $ 41,757 | $ 45,352 | $ 51,373 |",
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    "markdown": "| | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |\n| --- | --- | --- | --- | --- | --- |\n| Net income | $ 2,953 | $ 3,222 | $ 2,714 | $ 2,103 | $ 2,504 |\n| Adjustments: | | | | | |\n| Interest expense, net | 916 | 922 | 924 | 1,012 | 1,031 |\n| Other expense, net | 46 | 11 | 78 | 89 | 132 |\n| Income tax expense | 885 | 1,058 | 814 | 532 | 830 |\n| Operating income | 4,800 | 5,213 | 4,530 | 3,736 | 4,497 |\n| Depreciation and amortization | 3,198 | 3,146 | 3,408 | 3,756 | 3,817 |\n| Stock-based compensation (1) | 168 | 178 | 217 | 209 | 203 |\n| UScellular merger-related costs | 14 | 33 | 73 | 143 | 406 |\n| Network restructuring initiative costs (2) | \u2014 | \u2014 | \u2014 | 93 | 76 |\n| Legal-related expenses (recoveries), net (3) | 6 | (4) | 8 | 6 | 54 |\n| Impairment expense | \u2014 | \u2014 | 278 | \u2014 | \u2014 |\n| Other, net (4) | 73 | (19) | 170 | 504 | 188 |\n| Adjusted EBITDA | 8,259 | 8,547 | 8,684 | 8,447 | 9,241 |\n| Lease revenues | (1) | (6) | (4) | (2) | (1) |\n| Core Adjusted EBITDA | $ 8,258 | $ 8,541 | $ 8,680 | $ 8,445 | $ 9,240 |\n| Net income margin (Net income divided by Service revenues) | 17.4 % | 18.5 % | 14.9 % | 11.2 % | 13.3 % |\n| Adjusted EBITDA margin (Adjusted EBITDA divided by Service revenues) | 48.8 % | 49.0 % | 47.6 % | 45.2 % | 49.1 % |\n| Core Adjusted EBITDA margin (Core Adjusted EBITDA divided by Service revenues) | 48.8 % | 49.0 % | 47.6 % | 45.2 % | 49.1 % |",
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      "Stock-based compensation includes payroll tax impacts and may not agree to stock-based compensation expense on the Condensed Consolidated Financial Statements.",
      "In Q4 2025, we began implementing network restructuring initiatives as a result of recent technological advancements that enhanced our Customer-Driven Coverage insights. Network restructuring initiative costs consist of network decommissioning and contract termination costs related to the rationalization of our network and backhaul services and the elimination of duplicative costs.",
      "Legal-related expenses (recoveries), net, consists of the settlement of certain litigation and compliance costs associated with the August 2021 cyberattack and is presented net of insurance recoveries.",
      "Other, net, primarily consists of certain severance, restructuring and other expenses, gains and losses, not directly attributable to the UScellular acquisition, which are not reflective of T-Mobile's ongoing core business activities and are, therefore, excluded from Adjusted EBITDA and Core Adjusted EBITDA. Other, net, for the three months ended March 31, 2026 and December 31, 2025, includes $141 million and $390 million, respectively, of severance and related costs associated with the 2025-2026 workforce transformation."
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    "markdown": "| | Mar 31, 2025 | Jun 30, 2025 | Sep 30, 2025 | Dec 31, 2025 | Mar 31, 2026 |\n| --- | --- | --- | --- | --- | --- |\n| Short-term debt | $ 8,214 | $ 6,408 | $ 6,333 | $ 5,135 | $ 2,238 |\n| Short-term financing lease liabilities | 1,136 | 1,157 | 1,157 | 1,163 | 1,155 |\n| Long-term debt | 76,033 | 75,018 | 76,365 | 79,649 | 83,809 |\n| Long-term debt to affiliates | 1,497 | 1,497 | 1,498 | 1,498 | \u2014 |\n| Financing lease liabilities | 1,117 | 1,188 | 1,186 | 1,107 | 1,024 |\n| Total debt (excluding tower obligations) | $ 87,997 | $ 85,268 | $ 86,539 | $ 88,552 | $ 88,226 |\n| Less: Cash and cash equivalents | (12,003) | (10,259) | (3,310) | (5,598) | (3,520) |\n| Net debt (excluding tower obligations) | $ 75,994 | $ 75,009 | $ 83,229 | $ 82,954 | $ 84,706 |\n| Divided by: Last twelve months Net income | $ 11,918 | $ 12,215 | $ 11,870 | $ 10,992 | $ 10,543 |\n| Net debt (excluding tower obligations) to LTM Net income Ratio | 6.4 | 6.1 | 7.0 | 7.5 | 8.0 |\n| Divided by: Last twelve months Adjusted EBITDA | $ 32,471 | $ 32,965 | $ 33,406 | $ 33,937 | $ 34,919 |\n| Net debt (excluding tower obligations) to LTM Adjusted EBITDA Ratio | 2.3 | 2.3 | 2.5 | 2.4 | 2.4 |\n| Divided by: Last twelve months Core Adjusted EBITDA | $ 32,412 | $ 32,926 | $ 33,384 | $ 33,924 | $ 34,906 |\n| Net debt (excluding tower obligations) to LTM Core Adjusted EBITDA Ratio | 2.3 | 2.3 | 2.5 | 2.4 | 2.4 |",
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    "title": "Definitions of Terms",
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    "markdown": "| | |\n| --- | --- |\n| 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 telecommunications 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 telecommunications industry to provide management, investors and analysts with useful information to assess and evaluate past performance and assist in forecasting future performance. | |\n| 1. Account | Generally, a billing account that generates revenue. Postpaid accounts generally consist of customers that are qualified for postpaid service utilizing phones, 5G broadband gateways, fiber connections, mobile internet devices, including tablets and hotspots, wearables, DIGITS or other connected devices, including SyncUP and IoT, where they generally pay after receiving service. |\n| 2. Account Churn | The number of accounts whose service was deactivated as a percentage of the average number of accounts during the specified period further divided by the number of months in the period. The number of accounts whose service was deactivated is calculated net of accounts that subsequently had their service restored within a certain period of time and excludes accounts who received service for less than a certain minimum period of time, account mergers and account migrations. |\n| 3. Postpaid Average Revenue Per Account (\"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. |\n| Service revenues | Postpaid, including handset insurance, prepaid, wholesale and other service revenues. |\n| 4. Cost of services | Costs directly attributable to providing wireless communications and broadband services, 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. |\n| 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. |\n| Selling, general and administrative expenses | Costs not directly attributable to providing wireless communications and broadband services 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. |\n| 5. Net income margin | Net income divided by Service revenues. |\n| 6. 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, including our chief operating decision maker, to monitor the financial performance of our operations and allocate resources of the Company as a whole. 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 and broadband 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\"). |\n| 7. Special Items | Certain expenses, gains, and losses which are not reflective of our ongoing performance. Special Items include UScellular merger-related costs, network restructuring initiative costs (as discussed above), certain legal-related recoveries and expenses, Impairment expense, restructuring costs not directly attributable to the UScellular acquisition (including severance), and other non-core gains and losses. |\n| 8. 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, including our chief operating decision maker, to monitor the financial performance of our operations and allocate resources of the Company as a whole. |\n| 9. 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. |\n| 10. Adjusted Free Cash Flow | Net cash provided by operating activities less cash payments for purchases of property and equipment. 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. |\n| 11. 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. |\n| 12. Net debt | Short-term debt, short-term debt to affiliates, long-term debt (excluding tower obligations), and long-term debt to affiliates, short-term financing lease liabilities and financing lease liabilities, less cash and cash equivalents. |\n| 13. Net payments for merger-related costs | Net payments for merger-related costs include net cash payments for Sprint merger-related costs and UScellular merger-related costs. |",
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