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  "documentTitle": "AT&T | Results Presentation Deck | 13 slides",
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  "presentationDate": "2023-07-01 00:00:00",
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      "text": "Net debt – change since 2Q22 (TTM) $ amounts in billions",
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      "text": "Expect to reduce net debt¹² by ~$4B by end of 2023, with net debt-to-adjusted EBITDA of 3.0x¹⁷\nExpect free cash flow¹⁵ of $16B or better for 2023, indicating about $11B in second half 2023\nIn 2H23, expect:\n~$11B in free cash flow¹⁵\n($5B) dividends and distributions\n($2B) spectrum clearing costs\n~$4B in net debt reduction\nOn track to reach 2.5x range¹⁷ in first half of 2025\nGoing forward, expect majority of cash after dividends to go to debt reduction",
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      "kind": "source-note",
      "text": "© 2023 AT&T Intellectual Property. AT&T and globe logo are registered trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies.",
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      "text": "† See notes slide 12",
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      "text": "* Non-recurring and discrete items include (1) payments related to prior dispositions, including a post-closing adjustment to Warner Bros. Discovery, and DIRECTV note payable in connection with the NFL Sunday Ticket contract, (2) capitalized interest and clearing costs associated with spectrum transactions, and (3) the net impact of redemptions of our preferred interest in our Mobility II subsidiary and the associated subsequent issuances of preferred subsidiary interests..",
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