Set-of-Mark extraction review — before (table + bounding box) | after (final markdown)
Left: the page cropped around the table with its final boundary (content_region, the corrected end of the table) drawn; the crop extends a little below so any footnotes sit visibly outside the box. Right: the final corrected markdown. One row per table.
TMUS_992_Q224.pdf
24 tables
p9 · table 1 · 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
| Quarter | Cost of services, ex. D&A and Special Items | Merger-related costs | Other Special Items | % of Srvc revs, ex. D&A and Special Items |
|---|
| Q2 2023 | $2,916 | $2,720 | | 17.3% |
| Q3 2023 | $2,886 | $2,612 | | 16.4% |
| Q4 2023 | $2,792 | $2,646 | | 16.5% |
| Q1 2024 | $2,688 | $2,580 | | 16.0% |
| Q2 2024 | $2,664 | $2,591 | | 15.8% |
| Year-Over-Year | | | |
| Cost of services, exclusive of D&A, decreased 9% primarily due to: | | | |
| Lower Merger-related costs related to network decommissioning and integration | | | |
| Lower employee costs primarily related to reduced headcount | | | |
| Higher Merger synergies | | | |
| Sequential | | | |
| Cost of services, exclusive of D&A, decreased slightly primarily due to: | | | |
| Slightly lower Merger-related costs related to network decommissioning and integration | | | |
p9 · table 2 · Selling, General and Administrative (SG&A) Expense
units=($ in millions, % of Service revenues) · flavor=stream · camelot_accuracy=100.0 · llm_corrected=True
before — table + bounding box
after — final markdown
| Quarter | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 |
|---|
| SG&A expense, ex. Special Items | $5,272 | $5,334 | $5,280 | $5,138 | $5,142 |
| Merger-related costs (gain), net | $5,138 | $4,940 | $5,164 | $5,103 | $5,187 |
| Other Special Items | | | | | |
| % of Srvc revs, ex. Special Items | 32.6% | 31.0% | 32.2% | 31.7% | 31.6% |
p14 · table 3 · 2024 Outlook
units=(none) · flavor=stream · camelot_accuracy=87.0 · llm_corrected=True
before — table + bounding box
after — final markdown
| Metric | Previous | Revised | Change at Midpoint |
|---|
| Postpaid net customer additions | 5.2 to 5.6 million | 5.4 to 5.7 million | 150 thousand |
| Net income (1) | N/A | N/A | N/A |
| Effective tax rate | 24% to 26% | 24% to 25% | (50) bps |
| Core Adjusted EBITDA (2) | $31.4 to $31.9 billion | $31.5 to $31.8 billion | No change |
| Net cash provided by operating activities | $21.6 to $22.3 billion | $21.8 to $22.2 billion | $50 million |
| Capital expenditures (3) | $8.6 to $9.4 billion | $8.7 to $9.1 billion | $(100) million |
| Adjusted Free Cash Flow (4) | $16.4 to $16.9 billion | $16.6 to $17.0 billion | $150 million |
p16 · table 4 · T-Mobile US, Inc. Condensed Consolidated Balance Sheets
units=(in millions, except share and per share amounts) · flavor=stream · camelot_accuracy=99.5 · llm_corrected=True
before — table + bounding box
after — final markdown
| June 30, 2024 | December 31, 2023 |
|---|
| Assets | | |
| Current assets | | |
| Cash and cash equivalents | $ 6,417 | $ 5,135 |
| Accounts receivable, net of allowance for credit losses of $160 and $161 | 4,563 | 4,692 |
| Equipment installment plan receivables, net of allowance for credit losses and imputed discount of $587 and $623 | 3,776 | 4,456 |
| Inventory | 1,319 | 1,678 |
| Prepaid expenses | 1,059 | 702 |
| Other current assets | 2,163 | 2,352 |
| Total current assets | 19,297 | 19,015 |
| Property and equipment, net | 38,222 | 40,432 |
| Operating lease right-of-use assets | 26,240 | 27,135 |
| Financing lease right-of-use assets | 3,271 | 3,270 |
| Goodwill | 13,015 | 12,234 |
| Spectrum licenses | 98,661 | 96,707 |
| Other intangible assets, net | 2,978 | 2,618 |
| Equipment installment plan receivables due after one year, net of allowance for credit losses and imputed discount of $132 and $150 | 1,780 | 2,042 |
| Other assets | 5,093 | 4,229 |
| Total assets | $ 208,557 | $ 207,682 |
| Liabilities and Stockholders' Equity | | |
| Current liabilities | | |
| Accounts payable and accrued liabilities | $ 7,591 | $ 10,373 |
| Short-term debt | 5,867 | 3,619 |
| Deferred revenue | 1,098 | 825 |
| Short-term operating lease liabilities | 3,202 | 3,555 |
| Short-term financing lease liabilities | 1,252 | 1,260 |
| Other current liabilities | 4,028 | 1,296 |
| Total current liabilities | 23,038 | 20,928 |
| Long-term debt | 70,203 | 69,903 |
| Long-term debt to affiliates | 1,496 | 1,496 |
| Tower obligations | 3,725 | 3,777 |
| Deferred tax liabilities | 15,022 | 13,458 |
| Operating lease liabilities | 27,272 | 28,240 |
| Financing lease liabilities | 1,133 | 1,236 |
| Other long-term liabilities | 4,032 | 3,929 |
| Total long-term liabilities | 122,883 | 122,039 |
| Commitments and contingencies | | |
| Stockholders' equity | | |
| Common stock, par value $0.00001 per share, 2,000,000,000 shares authorized; 1,269,805,042 and 1,262,904,154 shares issued, 1,166,772,891 and 1,195,807,331 shares outstanding | — | — |
| Additional paid-in capital | 68,463 | 67,705 |
| Treasury stock, at cost, 103,032,151 and 67,096,823 shares issued | (15,270) | (9,373) |
| Accumulated other comprehensive loss | (917) | (964) |
| Retained earnings | 10,360 | 7,347 |
| Total stockholders' equity | 62,636 | 64,715 |
| Total liabilities and stockholders' equity | $ 208,557 | $ 207,682 |
p17 · table 5 · 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 June 30, 2024 | Three Months Ended March 31, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 |
|---|
| Revenues | | | | | |
| Postpaid revenues | $ 12,899 | $ 12,631 | $ 12,070 | $ 25,530 | $ 23,932 |
| Prepaid revenues | 2,592 | 2,403 | 2,444 | 4,995 | 4,861 |
| Wholesale and other service revenues | 938 | 1,062 | 1,224 | 2,000 | 2,491 |
| Total service revenues | 16,429 | 16,096 | 15,738 | 32,525 | 31,284 |
| Equipment revenues | 3,106 | 3,251 | 3,169 | 6,357 | 6,888 |
| Other revenues | 237 | 247 | 289 | 484 | 656 |
| Total revenues | 19,772 | 19,594 | 19,196 | 39,366 | 38,828 |
| Operating expenses | | | | | |
| Cost of services, exclusive of depreciation and amortization shown separately below | 2,664 | 2,688 | 2,916 | 5,352 | 5,977 |
| Cost of equipment sales, exclusive of depreciation and amortization shown separately below | 4,088 | 4,399 | 4,088 | 8,487 | 8,676 |
| Selling, general and administrative | 5,142 | 5,138 | 5,272 | 10,280 | 10,697 |
| Loss (gain) on disposal group held for sale | — | — | 17 | — | (25) |
| Depreciation and amortization | 3,248 | 3,371 | 3,110 | 6,619 | 6,313 |
| Total operating expenses | 15,142 | 15,596 | 15,403 | 30,738 | 31,638 |
| Operating income | 4,630 | 3,998 | 3,793 | 8,628 | 7,190 |
| Other expense, net | | | | | |
| Interest expense, net | (854) | (880) | (861) | (1,734) | (1,696) |
| Other (expense) income, net | (8) | 20 | 6 | 12 | 15 |
| Total other expense, net | (862) | (860) | (855) | (1,722) | (1,681) |
| Income before income taxes | 3,768 | 3,138 | 2,938 | 6,906 | 5,509 |
| Income tax expense | (843) | (764) | (717) | (1,607) | (1,348) |
| Net income | $ 2,925 | $ 2,374 | $ 2,221 | $ 5,299 | $ 4,161 |
| Net income | $ 2,925 | $ 2,374 | $ 2,221 | $ 5,299 | $ 4,161 |
| Other comprehensive income, net of tax | | | | | |
| Reclassification of loss from cash flow hedges, net of tax effect of $15, $15, $13, $30 and $27 | 43 | 43 | 40 | 86 | 80 |
| Net unrealized loss on fair value hedges, net of tax effect of $(10), $0, $0, $(10) and $0 | (30) | — | — | (30) | — |
| Unrealized gain on foreign currency translation adjustment, net of tax effect of $0, $0, $0, $0 and $0 | — | — | 7 | — | 9 |
| Amortization of actuarial gain, net of tax effect of $(1), $(2), $0, $(3) and $0 | (4) | (5) | — | (9) | — |
| Other comprehensive income | 9 | 38 | 47 | 47 | 89 |
| Total comprehensive income | $ 2,934 | $ 2,412 | $ 2,268 | $ 5,346 | $ 4,250 |
| Earnings per share | | | | | |
| Basic | $ 2.50 | $ 2.00 | $ 1.86 | $ 4.50 | $ 3.45 |
| Diluted | $ 2.49 | $ 2.00 | $ 1.86 | $ 4.49 | $ 3.44 |
| Weighted-average shares outstanding | | | | | |
| Basic | 1,170,025,862 | 1,185,298,497 | 1,193,078,891 | 1,177,662,179 | 1,206,270,341 |
| Diluted | 1,172,447,353 | 1,189,092,019 | 1,195,533,499 | 1,180,929,879 | 1,210,220,958 |
p18 · table 6 · T-Mobile US, Inc. Condensed Consolidated Statements of Cash Flows
units=(in millions) · flavor=stream · camelot_accuracy=99.0 · llm_corrected=True
before — table + bounding box
after — final markdown
| Three Months Ended June 30, 2024 | Three Months Ended March 31, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 |
|---|
| Operating activities | | | | | |
| Net income | $ 2,925 | $ 2,374 | $ 2,221 | $ 5,299 | $ 4,161 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | | | |
| Depreciation and amortization | 3,248 | 3,371 | 3,110 | 6,619 | 6,313 |
| Stock-based compensation expense | 164 | 140 | 167 | 304 | 344 |
| Deferred income tax expense | 747 | 715 | 703 | 1,462 | 1,314 |
| Bad debt expense | 255 | 282 | 213 | 537 | 435 |
| Losses from sales of receivables | 25 | 21 | 51 | 46 | 89 |
| Loss on remeasurement of disposal group held for sale | — | — | 22 | — | 9 |
| Changes in operating assets and liabilities | | | | | |
| Accounts receivable | (1,286) | (416) | (1,514) | (1,702) | (2,782) |
| Equipment installment plan receivables | 155 | 277 | 246 | 432 | 398 |
| Inventory | 221 | 170 | 362 | 391 | 491 |
| Operating lease right-of-use assets | 872 | 856 | 929 | 1,728 | 1,937 |
| Other current and long-term assets | (416) | 160 | 354 | (256) | 212 |
| Accounts payable and accrued liabilities | 38 | (1,734) | (864) | (1,696) | (1,746) |
| Short- and long-term operating lease liabilities | (1,148) | (1,017) | (1,183) | (2,165) | (2,192) |
| Other current and long-term liabilities | (360) | (172) | (466) | (532) | (649) |
| Other, net | 81 | 57 | 4 | 138 | 72 |
| Net cash provided by operating activities | 5,521 | 5,084 | 4,355 | 10,605 | 8,406 |
| Investing activities | | | | | |
| Purchases of property and equipment, including capitalized interest of $(8), $(9), $(14), $(17) and $(28) | (2,040) | (2,627) | (2,789) | (4,667) | (5,790) |
| Purchases of spectrum licenses and other intangible assets, including deposits | (156) | (61) | (33) | (217) | (106) |
| Proceeds from sales of tower sites | — | — | 2 | — | 8 |
| Proceeds related to beneficial interests in securitization transactions | 958 | 890 | 1,309 | 1,848 | 2,654 |
| Acquisition of companies, net of cash acquired | (390) | — | — | (390) | — |
| Other, net | (50) | 11 | 24 | (39) | 19 |
| Net cash used in investing activities | (1,678) | (1,787) | (1,487) | (3,465) | (3,215) |
| Financing activities | | | | | |
| Proceeds from issuance of long-term debt | 2,136 | 3,473 | 3,450 | 5,609 | 6,463 |
| Repayments of financing lease obligations | (351) | (327) | (304) | (678) | (610) |
| Repayments of long-term debt | (2,723) | (223) | (223) | (2,946) | (354) |
| Repurchases of common stock | (2,387) | (3,594) | (3,591) | (5,981) | (8,210) |
| Dividends on common stock | (759) | (769) | — | (1,528) | — |
| Tax withholdings on share-based awards | (16) | (192) | (70) | (208) | (257) |
| Other, net | (34) | (34) | (46) | (68) | (89) |
| Net cash used in financing activities | (4,134) | (1,666) | (784) | (5,800) | (3,057) |
| Change in cash and cash equivalents, including restricted cash and cash held for sale | (291) | 1,631 | 2,084 | 1,340 | 2,134 |
| Cash and cash equivalents, including restricted cash and cash held for sale | | | | | |
| Beginning of period | 6,938 | 5,307 | 4,724 | 5,307 | 4,674 |
| End of period | $ 6,647 | $ 6,938 | $ 6,808 | $ 6,647 | $ 6,808 |
p19 · table 7 · T-Mobile US, Inc. Condensed Consolidated Statements of Cash Flows (Continued)
units=(in millions) · flavor=stream · camelot_accuracy=96.0 · llm_corrected=True
before — table + bounding box
after — final markdown
| Three Months Ended June 30, 2024 | Three Months Ended March 31, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 |
|---|
| Supplemental disclosure of cash flow information | | | | | |
| Interest payments, net of amounts capitalized | $ 935 | $ 896 | $ 896 | $ 1,831 | $ 1,736 |
| Operating lease payments | 1,457 | 1,344 | 1,483 | 2,801 | 2,797 |
| Income tax payments | 107 | 7 | 95 | 114 | 122 |
| Non-cash investing and financing activities | | | | | |
| Non-cash beneficial interest obtained in exchange for securitized receivables | $ 833 | $ 661 | $ 1,109 | $ 1,494 | $ 2,228 |
| Change in accounts payable and accrued liabilities for purchases of property and equipment | (232) | (894) | (408) | (1,126) | (737) |
| Operating lease right-of-use assets obtained in exchange for lease obligations | 344 | 487 | 674 | 831 | 1,113 |
| Financing lease right-of-use assets obtained in exchange for lease obligations | 311 | 263 | 324 | 574 | 563 |
| Contingent and other deferred consideration related to the Ka'ena Acquisition | 210 | — | — | 210 | — |
p20 · table 8 · T-Mobile US, Inc.
units=(in thousands) · flavor=stream · camelot_accuracy=95.4 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Customers, end of period | | | | | | | | |
| Postpaid phone customers (1) | 73,372 | 74,132 | 74,982 | 75,936 | 76,468 | 77,245 | 74,132 | 77,245 |
| Postpaid other customers (1) | 20,153 | 20,954 | 21,330 | 22,116 | 22,804 | 23,365 | 20,954 | 23,365 |
| Total postpaid customers | 93,525 | 95,086 | 96,312 | 98,052 | 99,272 | 100,610 | 95,086 | 100,610 |
| Prepaid customers (2) | 21,392 | 21,516 | 21,595 | 21,648 | 21,600 | 25,283 | 21,516 | 25,283 |
| Total customers | 114,917 | 116,602 | 117,907 | 119,700 | 120,872 | 125,893 | 116,602 | 125,893 |
| Adjustments to customers (1) (2) | — | — | — | 170 | — | 3,504 | — | 3,504 |
p20 · table 9 · Net customer additions (losses)
units=(in thousands) · flavor=stream · camelot_accuracy=98.8 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Postpaid phone customers | 538 | 760 | 850 | 934 | 532 | 777 | 1,298 | 1,309 |
| Postpaid other customers | 755 | 801 | 376 | 636 | 688 | 561 | 1,556 | 1,249 |
| Total postpaid customers | 1,293 | 1,561 | 1,226 | 1,570 | 1,220 | 1,338 | 2,854 | 2,558 |
| Prepaid customers | 26 | 124 | 79 | 53 | (48) | 179 | 150 | 131 |
| Total net customer additions | 1,319 | 1,685 | 1,305 | 1,623 | 1,172 | 1,517 | 3,004 | 2,689 |
| Migrations from prepaid to postpaid plans | 145 | 140 | 155 | 170 | 145 | 140 | 285 | 285 |
p20 · table 10 · Churn
units=(none) · flavor=stream · camelot_accuracy=96.5 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Churn | | | | | | | | |
| Postpaid phone churn | 0.89 % | 0.77 % | 0.87 % | 0.96 % | 0.86 % | 0.80 % | 0.83 % | 0.83 % |
| Prepaid churn | 2.76 % | 2.62 % | 2.81 % | 2.86 % | 2.75 % | 2.54 % | 2.69 % | 2.64 % |
p20 · table 11 · Postpaid upgrade rate
units=(none) · flavor=stream · camelot_accuracy=92.9 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Postpaid device upgrade rate | 3.2 % | 2.6 % | 2.7 % | 3.2 % | 2.4 % | 2.3 % | 5.8 % | 4.9 % |
p21 · table 12 · T-Mobile US, Inc.
units=(in thousands) · flavor=stream · camelot_accuracy=88.7 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Accounts, end of period | | | | | | | | |
| Total postpaid customer accounts | 28,813 | 29,112 | 29,498 | 29,797 | 30,015 | 30,316 | 29,112 | 30,316 |
p21 · table 13 · Accounts, end of period
units=(in thousands) · flavor=stream · camelot_accuracy=93.6 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Net account additions | | | | | | | | |
| Postpaid net account additions | 287 | 299 | 386 | 299 | 218 | 301 | 586 | 519 |
p21 · table 14 · High speed internet customers, end of period
units=(in thousands) · flavor=stream · camelot_accuracy=96.5 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Postpaid high speed internet customers | 2,855 | 3,302 | 3,807 | 4,288 | 4,634 | 4,992 | 3,302 | 4,992 |
| Prepaid high speed internet customers | 314 | 376 | 428 | 488 | 547 | 595 | 376 | 595 |
| Total high speed internet customers, end of period | 3,169 | 3,678 | 4,235 | 4,776 | 5,181 | 5,587 | 3,678 | 5,587 |
p21 · table 15 · High speed internet - net customer additions
units=(in thousands) · flavor=stream · camelot_accuracy=96.5 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Postpaid high speed internet customers | 445 | 447 | 505 | 481 | 346 | 358 | 892 | 704 |
| Prepaid high speed internet customers | 78 | 62 | 52 | 60 | 59 | 48 | 140 | 107 |
| Total high speed internet net customer additions | 523 | 509 | 557 | 541 | 405 | 406 | 1,032 | 811 |
p21 · table 16 · Device financing - equipment installment plans / leased devices
units=(in millions) · flavor=stream · camelot_accuracy=98.1 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Device financing - equipment installment plans | | | | | | | | |
| Gross EIP financed | $ 3,335 | $ 2,858 | $ 3,116 | $ 4,275 | $ 3,218 | $ 3,037 | $ 6,193 | $ 6,255 |
| EIP billings | 3,871 | 3,732 | 3,622 | 3,829 | 3,880 | 3,604 | 7,603 | 7,484 |
| EIP receivables, net | 7,262 | 6,745 | 6,349 | 6,498 | 5,967 | 5,556 | 6,745 | 5,556 |
| Device financing - leased devices | | | | | | | | |
| Lease revenues | $ 147 | $ 69 | $ 53 | $ 43 | $ 35 | $ 26 | $ 216 | $ 61 |
| Leased device depreciation | 58 | 46 | 37 | 29 | 22 | 15 | 104 | 37 |
p21 · table 17 · Operating measures
units=(in dollars) · flavor=stream · camelot_accuracy=96.3 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Operating measures | | | | | | | | |
| Postpaid ARPA | $ 138.04 | $ 138.94 | $ 139.83 | $ 140.23 | $ 140.88 | $ 142.54 | $ 138.49 | $ 141.71 |
| Postpaid phone ARPU | 48.63 | 48.84 | 48.93 | 48.91 | 48.79 | 49.07 | 48.73 | 48.93 |
| Prepaid ARPU | 37.98 | 37.98 | 38.18 | 37.55 | 37.18 | 35.94 | 37.98 | 36.52 |
p22 · table 18 · T-Mobile US, Inc. Supplementary Operating and Financial Data (continued)
units=(in millions, except percentages) · flavor=stream · camelot_accuracy=99.1 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Financial measures | | | | | | | | |
| Service revenues | $ 15,546 | $ 15,738 | $ 15,914 | $ 16,043 | $ 16,096 | $ 16,429 | $ 31,284 | $ 32,525 |
| Equipment revenues | $ 3,719 | $ 3,169 | $ 3,076 | $ 4,174 | $ 3,251 | $ 3,106 | $ 6,888 | $ 6,357 |
| Lease revenues | 147 | 69 | 53 | 43 | 35 | 26 | 216 | 61 |
| Equipment sales | $ 3,572 | $ 3,100 | $ 3,023 | $ 4,131 | $ 3,216 | $ 3,080 | $ 6,672 | $ 6,296 |
| Total revenues | $ 19,632 | $ 19,196 | $ 19,252 | $ 20,478 | $ 19,594 | $ 19,772 | $ 38,828 | $ 39,366 |
| Net income | $ 1,940 | $ 2,221 | $ 2,142 | $ 2,014 | $ 2,374 | $ 2,925 | $ 4,161 | $ 5,299 |
| Net income margin | 12.5 % | 14.1 % | 13.5 % | 12.6 % | 14.7 % | 17.8 % | 13.3 % | 16.3 % |
| Adjusted EBITDA | $ 7,199 | $ 7,405 | $ 7,600 | $ 7,224 | $ 7,652 | $ 8,053 | $ 14,604 | $ 15,705 |
| Adjusted EBITDA margin | 46.3 % | 47.1 % | 47.8 % | 45.0 % | 47.5 % | 49.0 % | 46.7 % | 48.3 % |
| Core Adjusted EBITDA | $ 7,052 | $ 7,336 | $ 7,547 | $ 7,181 | $ 7,617 | $ 8,027 | $ 14,388 | $ 15,644 |
| Core Adjusted EBITDA margin | 45.4 % | 46.6 % | 47.4 % | 44.8 % | 47.3 % | 48.9 % | 46.0 % | 48.1 % |
| Cost of services, exclusive of depreciation and amortization | $ 3,061 | $ 2,916 | $ 2,886 | $ 2,792 | $ 2,688 | $ 2,664 | $ 5,977 | $ 5,352 |
| Merger-related costs | 208 | 178 | 120 | 146 | 107 | 73 | 386 | 180 |
| Other Special Items | 23 | 18 | 154 | — | 1 | — | 41 | 1 |
| Cost of services, excluding depreciation and amortization and Special Items | $ 2,830 | $ 2,720 | $ 2,612 | $ 2,646 | $ 2,580 | $ 2,591 | $ 5,550 | $ 5,171 |
| Cost of equipment sales, exclusive of depreciation and amortization | $ 4,588 | $ 4,088 | $ 4,249 | $ 5,608 | $ 4,399 | $ 4,088 | $ 8,676 | $ 8,487 |
| Merger-related recoveries | (9) | — | (3) | — | — | — | (9) | — |
| Cost of equipment sales, excluding depreciation and amortization and Special Items | $ 4,597 | $ 4,088 | $ 4,252 | $ 5,608 | $ 4,399 | $ 4,088 | $ 8,685 | $ 8,487 |
| Selling, general and administrative | $ 5,425 | $ 5,272 | $ 5,334 | $ 5,280 | $ 5,138 | $ 5,142 | $ 10,697 | $ 10,280 |
| Merger-related costs (gain), net | 159 | 98 | 35 | 102 | 23 | (82) | 257 | (59) |
| Other Special Items | 87 | 36 | 359 | 14 | 12 | 37 | 123 | 49 |
| Selling, general and administrative, excluding Special Items | $ 5,179 | $ 5,138 | $ 4,940 | $ 5,164 | $ 5,103 | $ 5,187 | $ 10,317 | $ 10,290 |
| Total bad debt expense and losses from sales of receivables | $ 260 | $ 264 | $ 274 | $ 265 | $ 303 | $ 280 | $ 524 | $ 583 |
| Bad debt and losses from sales of receivables as a percentage of Total revenues | 1.3 % | 1.4 % | 1.4 % | 1.3 % | 1.5 % | 1.4 % | 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 | $ 5,790 | $ 4,667 |
| Capitalized interest | 14 | 14 | 66 | 10 | 9 | 8 | 28 | 17 |
| Net cash proceeds from securitization | $ (29) | $ (31) | $ (33) | $ (21) | $ (29) | $ (30) | $ (60) | $ (59) |
| Net cash payments for Merger-related costs | $ 484 | $ 728 | $ 345 | $ 416 | $ 293 | $ 241 | $ 1,212 | $ 534 |
p22 · table 19 · Stockholder returns
units=(in millions, except share and per share amounts) · flavor=stream · camelot_accuracy=90.9 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Total repurchases | $ 4,766 | $ 3,525 | $ 2,675 | $ 2,241 | $ 3,568 | $ 2,277 | $ 8,291 | $ 5,845 |
| Total shares repurchased | 32,963,940 | 25,183,838 | 19,313,159 | 15,464,107 | 21,933,790 | 13,979,843 | 58,147,778 | 35,913,633 |
| Average purchase price per share | $ 144.57 | $ 140.00 | $ 138.48 | $ 144.95 | $ 162.69 | $ 162.85 | $ 142.59 | $ 162.75 |
| Total dividends paid | $ — | $ — | $ — | $ 747 | $ 769 | $ 759 | $ — | $ 1,528 |
| Dividends per share | $ — | $ — | $ — | $ 0.65 | $ 0.65 | $ 0.65 | $ — | $ 1.30 |
| Total stockholder returns | $ 4,766 | $ 3,525 | $ 2,675 | $ 2,988 | $ 4,337 | $ 3,036 | $ 8,291 | $ 7,373 |
| Cumulative stockholder returns | $ 7,766 | $ 11,291 | $ 13,966 | $ 16,954 | $ 21,291 | $ 24,327 | $ 11,291 | $ 24,327 |
p23 · table 20 · T-Mobile US, Inc. Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures
units=(in millions, except percentages) · flavor=stream · camelot_accuracy=94.8 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Net income | $ 1,940 | $ 2,221 | $ 2,142 | $ 2,014 | $ 2,374 | $ 2,925 | $ 4,161 | $ 5,299 |
| Adjustments: | | | | | | | | |
| Interest expense, net | 835 | 861 | 790 | 849 | 880 | 854 | 1,696 | 1,734 |
| Other (income) expense, net | (9) | (6) | (41) | (12) | (20) | 8 | (15) | (12) |
| Income tax expense | 631 | 717 | 705 | 629 | 764 | 843 | 1,348 | 1,607 |
| Operating income | 3,397 | 3,793 | 3,596 | 3,480 | 3,998 | 4,630 | 7,190 | 8,628 |
| Depreciation and amortization | 3,203 | 3,110 | 3,187 | 3,318 | 3,371 | 3,248 | 6,313 | 6,619 |
| Stock-based compensation (1) | 173 | 155 | 152 | 164 | 140 | 147 | 328 | 287 |
| Merger-related costs (gain), net (2) | 358 | 276 | 152 | 248 | 130 | (9) | 634 | 121 |
| Legal-related (recoveries) expenses, net (3) | (43) | — | — | 1 | — | 15 | (43) | 15 |
| (Gain) loss on disposal group held for sale | (42) | 17 | — | — | — | — | (25) | — |
| Other, net (4) | 153 | 54 | 513 | 13 | 13 | 22 | 207 | 35 |
| Adjusted EBITDA | 7,199 | 7,405 | 7,600 | 7,224 | 7,652 | 8,053 | 14,604 | 15,705 |
| Lease revenues | (147) | (69) | (53) | (43) | (35) | (26) | (216) | (61) |
| Core Adjusted EBITDA | $ 7,052 | $ 7,336 | $ 7,547 | $ 7,181 | $ 7,617 | $ 8,027 | $ 14,388 | $ 15,644 |
| Net income margin (Net income divided by Service revenues) | 12.5 % | 14.1 % | 13.5 % | 12.6 % | 14.7 % | 17.8 % | 13.3 % | 16.3 % |
| Adjusted EBITDA margin (Adjusted EBITDA divided by Service revenues) | 46.3 % | 47.1 % | 47.8 % | 45.0 % | 47.5 % | 49.0 % | 46.7 % | 48.3 % |
| Core Adjusted EBITDA margin (Core Adjusted EBITDA divided by Service revenues) | 45.4 % | 46.6 % | 47.4 % | 44.8 % | 47.3 % | 48.9 % | 46.0 % | 48.1 % |
p24 · table 21 · T-Mobile US, Inc.
units=(in millions, except net debt ratios) · flavor=stream · camelot_accuracy=98.3 · llm_corrected=True
before — table + bounding box
after — final markdown
| Mar 31, 2023 | Jun 30, 2023 | Sep 30, 2023 | Dec 31, 2023 | Mar 31, 2024 | Jun 30, 2024 |
|---|
| Short-term debt | $ 5,215 | $ 7,731 | $ 3,437 | $ 3,619 | $ 5,356 | $ 5,867 |
| Short-term financing lease liabilities | 1,180 | 1,220 | 1,286 | 1,260 | 1,265 | 1,252 |
| Long-term debt | 68,035 | 68,646 | 70,365 | 69,903 | 71,361 | 70,203 |
| Long-term debt to affiliates | 1,495 | 1,495 | 1,496 | 1,496 | 1,496 | 1,496 |
| Financing lease liabilities | 1,284 | 1,254 | 1,273 | 1,236 | 1,163 | 1,133 |
| Less: Cash and cash equivalents | (4,540) | (6,647) | (5,030) | (5,135) | (6,708) | (6,417) |
| Net debt (excluding tower obligations) | $ 72,669 | $ 73,699 | $ 72,827 | $ 72,379 | $ 73,933 | $ 73,534 |
| Divided by: Last twelve months Net income | $ 3,817 | $ 6,146 | $ 7,780 | $ 8,317 | $ 8,751 | $ 9,455 |
| Net debt (excluding tower obligations) to LTM Net income Ratio | 19.0 | 12.0 | 9.4 | 8.7 | 8.4 | 7.8 |
| Divided by: Last twelve months Adjusted EBITDA | $ 28,070 | $ 28,471 | $ 29,032 | $ 29,428 | $ 29,881 | $ 30,529 |
| Net debt (excluding tower obligations) to LTM Adjusted EBITDA Ratio | 2.6 | 2.6 | 2.5 | 2.5 | 2.5 | 2.4 |
| Divided by: Last twelve months Core Adjusted EBITDA | $ 26,980 | $ 27,698 | $ 28,517 | $ 29,116 | $ 29,681 | $ 30,372 |
| Net debt (excluding tower obligations) to LTM Core Adjusted EBITDA Ratio | 2.7 | 2.7 | 2.6 | 2.5 | 2.5 | 2.4 |
p24 · table 22 · Adjusted Free Cash Flow is calculated as follows:
units=(in millions, except percentages) · flavor=stream · camelot_accuracy=98.2 · llm_corrected=True
before — table + bounding box
after — final markdown
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2024 |
|---|
| Net cash provided by operating activities | $ 4,051 | $ 4,355 | $ 5,294 | $ 4,859 | $ 5,084 | $ 5,521 | $ 8,406 | $ 10,605 |
| Cash purchases of property and equipment, including capitalized interest | (3,001) | (2,789) | (2,424) | (1,587) | (2,627) | (2,040) | (5,790) | (4,667) |
| Proceeds from sales of tower sites | 6 | 2 | 2 | 2 | — | — | 8 | — |
| Proceeds related to beneficial interests in securitization transactions | 1,345 | 1,309 | 1,131 | 1,031 | 890 | 958 | 2,654 | 1,848 |
| Adjusted Free Cash Flow | $ 2,401 | $ 2,877 | $ 4,003 | $ 4,305 | $ 3,347 | $ 4,439 | $ 5,278 | $ 7,786 |
| Net cash provided by operating activities margin | 26.1 % | 27.7 % | 33.3 % | 30.3 % | 31.6 % | 33.6 % | 26.9 % | 32.6 % |
| Adjusted Free Cash Flow margin | 15.4 % | 18.3 % | 25.2 % | 26.8 % | 20.8 % | 27.0 % | 16.9 % | 23.9 % |
p25 · table 23 · 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
| FY 2024 Guidance Range | FY 2024 Guidance Range |
|---|
| 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) | 3,500 | 3,900 |
| Adjusted Free Cash Flow | $ 16,600 | $ 17,000 |
p25 · table 24 · 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
| FY 2024 Guidance Range | |
|---|
| Net cash provided by operating activities | $ 21,600 | $ 22,300 |
| Cash purchases of property and equipment, including capitalized interest | (8,600) | (9,400) |
| Proceeds related to beneficial interests in securitization transactions (1) | 3,400 | 4,000 |
| Adjusted Free Cash Flow | $ 16,400 | $ 16,900 |