T-MOBILE US, INC., 10-Q filed on 4/26/2024
Quarterly Report
v3.24.1.u1
Cover Page - shares
 3 Months Ended
Mar. 31, 2024
Apr. 19, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2024  
Document Transition Report false  
Entity File Number 1-33409  
Entity Registrant Name T-MOBILE US, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-0836269  
Entity Address, Address Line One 12920 SE 38th Street  
Entity Address, City or Town Bellevue  
Entity Address, State or Province WA  
Entity Address, Postal Zip Code 98006-1350  
City Area Code (425)  
Local Phone Number 378-4000  
Title of 12(b) Security Common Stock, par value $0.00001 per share  
Trading Symbol TMUS  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   1,171,854,259
Entity Central Index Key 0001283699  
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q1  
Current Fiscal Year End Date --12-31  
v3.24.1.u1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 6,708 $ 5,135
Accounts receivable, net of allowance for credit losses of $161 and $161 4,253 4,692
Equipment installment plan receivables, net of allowance for credit losses and imputed discount of $614 and $623 4,059 4,456
Inventory 1,521 1,678
Prepaid expenses 715 702
Other current assets 2,039 2,352
Total current assets 19,295 19,015
Property and equipment, net 39,286 40,432
Operating lease right-of-use assets 26,766 27,135
Financing lease right-of-use assets 3,180 3,270
Goodwill 12,234 12,234
Spectrum licenses 97,154 96,707
Other intangible assets, net 2,445 2,618
Equipment installment plan receivables due after one year, net of allowance for credit losses and imputed discount of $143 and $150 1,908 2,042
Other assets 4,000 4,229
Total assets 206,268 207,682
Current liabilities    
Accounts payable and accrued liabilities 7,720 10,373
Short-term debt 5,356 3,619
Deferred revenue 846 825
Short-term operating lease liabilities 3,443 3,555
Short-term financing lease liabilities 1,265 1,260
Other current liabilities 1,933 1,296
Total current liabilities 20,563 20,928
Tower obligations 3,751 3,777
Deferred tax liabilities 14,187 13,458
Operating lease liabilities 27,827 28,240
Financing lease liabilities 1,163 1,236
Other long-term liabilities 3,846 3,929
Total long-term liabilities 123,631 122,039
Commitments and contingencies (Note 12)
Stockholders' equity    
Common stock, par value $0.00001 per share, 2,000,000,000 shares authorized; 1,266,294,032 and 1,262,904,154 shares issued, 1,177,240,110 and 1,195,807,331 shares outstanding 0 0
Additional paid-in capital 67,786 67,705
Treasury stock, at cost, 89,053,922 and 67,096,823 shares (12,982) (9,373)
Accumulated other comprehensive loss (926) (964)
Retained earnings 8,196 7,347
Total stockholders' equity 62,074 64,715
Total liabilities and stockholders' equity 206,268 207,682
Nonrelated Party    
Current liabilities    
Long-term debt 71,361 69,903
Related Party    
Current liabilities    
Long-term debt $ 1,496 $ 1,496
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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Allowance for credit losses $ 161 $ 161
Allowance for credit losses and imputed discount current 614 623
Allowance for credit losses and imputed discount noncurrent $ 143 $ 150
Common stock, par value (in USD per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares issued (in shares) 1,266,294,032 1,262,904,154
Common stock, shares outstanding (in shares) 1,177,240,110 1,195,807,331
Treasury stock, at cost (in shares) 89,053,922 67,096,823
v3.24.1.u1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Revenues $ 19,594 $ 19,632
Operating expenses    
Selling, general and administrative 5,138 5,425
Gain on disposal group held for sale 0 (42)
Depreciation and amortization 3,371 3,203
Total operating expenses 15,596 16,235
Operating income 3,998 3,397
Other expense, net    
Interest expense, net (880) (835)
Other income, net 20 9
Total other expense, net (860) (826)
Income before income taxes 3,138 2,571
Income tax expense (764) (631)
Net income 2,374 1,940
Other comprehensive income, net of tax    
Reclassification of loss from cash flow hedges, net of tax effect of $15 and $14 43 40
Unrealized gain on foreign currency translation adjustment, net of tax effect of $0, and $0 0 2
Amortization of actuarial gain, net of tax effect of $(2) and $0 (5) 0
Other comprehensive income 38 42
Total comprehensive income $ 2,412 $ 1,982
Earnings per share    
Basic (in USD per share) $ 2.00 $ 1.59
Diluted (in USD per share) $ 2.00 $ 1.58
Weighted-average shares outstanding    
Basic (in shares) 1,185,298,497 1,219,608,362
Diluted (in shares) 1,189,092,019 1,224,604,698
Service    
Revenues    
Revenues $ 16,096 $ 15,546
Operating expenses    
Cost of services, exclusive of depreciation and amortization shown separately below 2,688 3,061
Postpaid revenues    
Revenues    
Revenues 12,631 11,862
Prepaid revenues    
Revenues    
Revenues 2,403 2,417
Wholesale and other service revenues    
Revenues    
Revenues 1,062 1,267
Equipment revenues    
Revenues    
Revenues 3,251 3,719
Operating expenses    
Cost of services, exclusive of depreciation and amortization shown separately below 4,399 4,588
Other revenues    
Revenues    
Revenues $ 247 $ 367
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Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Cash flow hedges, tax effect $ 15 $ 14
Foreign currency translation adjustment, tax effect 0 0
Amortization of actuarial gain, net of tax effect $ (2) $ 0
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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 2,374 $ 1,940
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 3,371 3,203
Stock-based compensation expense 140 177
Deferred income tax expense 715 611
Bad debt expense 282 222
Losses from sales of receivables 21 38
Gain on remeasurement of disposal group held for sale 0 (13)
Changes in operating assets and liabilities    
Accounts receivable (416) (1,268)
Equipment installment plan receivables 277 152
Inventory 170 129
Operating lease right-of-use assets 856 1,008
Other current and long-term assets 160 (142)
Accounts payable and accrued liabilities (1,734) (882)
Short- and long-term operating lease liabilities (1,017) (1,009)
Other current and long-term liabilities (172) (183)
Other, net 57 68
Net cash provided by operating activities 5,084 4,051
Investing activities    
Purchases of property and equipment, including capitalized interest of $(9) and $(14) (2,627) (3,001)
Purchases of spectrum licenses and other intangible assets, including deposits (61) (73)
Proceeds from sales of tower sites 0 6
Proceeds related to beneficial interests in securitization transactions 890 1,345
Other, net 11 (5)
Net cash used in investing activities (1,787) (1,728)
Financing activities    
Proceeds from issuance of long-term debt 3,473 3,013
Repayments of financing lease obligations (327) (306)
Repayments of long-term debt (223) (131)
Repurchases of common stock (3,594) (4,619)
Dividends on common stock (769) 0
Tax withholdings on share-based awards (192) (187)
Other, net (34) (43)
Net cash used in financing activities (1,666) (2,273)
Change in cash and cash equivalents, including restricted cash and cash held for sale 1,631 50
Cash and cash equivalents, including restricted cash and cash held for sale    
Beginning of period 5,307 4,674
End of period $ 6,938 $ 4,724
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Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Cash Flows [Abstract]    
Capitalized interest $ (9) $ (14)
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Condensed Consolidated Statement of Stockholders’ Equity - USD ($)
$ in Millions
Total
Common Stock Outstanding
Treasury Shares Outstanding
Par Value and Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Retained Earnings (Accumulated Deficit)
Beginning balance (in shares) at Dec. 31, 2022   1,233,960,078        
Beginning balance of treasury stock, (in shares) at Dec. 31, 2022 22,916,449          
Beginning balance at Dec. 31, 2022 $ 69,656   $ (3,016) $ 73,941 $ (1,046) $ (223)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 1,940         1,940
Other comprehensive income 42       42  
Stock-based compensation 155     155    
Stock issued for employee stock purchase plan (in shares)   1,063,426        
Stock issued for employee stock purchase plan 126     126    
Issuance of vested restricted stock units (in shares)   3,844,801        
Shares withheld related to net share settlement of stock awards and stock options (in shares)   (1,263,356)        
Shares withheld related to net share settlement of stock awards and stock options (187)     (187)    
Repurchases of common stock (in shares)   (32,963,940) (32,963,940)      
Repurchases of common stock (4,810)   $ (4,810)      
Other, net (in shares)   55,316 30,275      
Other, net 3   $ (5) 8    
Ending balance (in shares) at Mar. 31, 2023   1,204,696,325        
Ending balance of treasury stock, (in shares) at Mar. 31, 2023     55,910,664      
Ending balance at Mar. 31, 2023 $ 66,925   $ (7,831) 74,043 (1,004) 1,717
Beginning balance (in shares) at Dec. 31, 2023 1,195,807,331 1,195,807,331        
Beginning balance of treasury stock, (in shares) at Dec. 31, 2023 67,096,823   67,096,823      
Beginning balance at Dec. 31, 2023 $ 64,715   $ (9,373) 67,705 (964) 7,347
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 2,374         2,374
Dividends declared (1,525)         (1,525)
Other comprehensive income 38       38  
Stock-based compensation 152     152    
Stock issued for employee stock purchase plan (in shares)   950,082        
Stock issued for employee stock purchase plan 112     112    
Issuance of vested restricted stock units (in shares)   3,525,790        
Shares withheld related to net share settlement of stock awards and stock options (in shares)   (1,171,055)        
Shares withheld related to net share settlement of stock awards and stock options (192)     (192)    
Repurchases of common stock (in shares)   (21,933,790) (21,933,790)      
Repurchases of common stock (3,604)   $ (3,604)      
Other, net (in shares)   61,752 23,309      
Other, net $ 4   $ (5) 9    
Ending balance (in shares) at Mar. 31, 2024 1,177,240,110 1,177,240,110        
Ending balance of treasury stock, (in shares) at Mar. 31, 2024 89,053,922   89,053,922      
Ending balance at Mar. 31, 2024 $ 62,074   $ (12,982) $ 67,786 $ (926) $ 8,196
v3.24.1.u1
Condensed Consolidated Statement of Stockholders’ Equity (Parenthetical)
 3 Months Ended
Mar. 31, 2024
$ / shares
Statement of Stockholders' Equity [Abstract]  
Common stock, dividends declared (in USD per share) $ 1.30
v3.24.1.u1
Summary of Significant Accounting Policies
 3 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Significant Accounting Policies
Note 1 – Summary of Significant Accounting Policies

Basis of Presentation

The unaudited condensed consolidated financial statements of T-Mobile US, Inc. (“T-Mobile,” “we,” “our,” “us” or the “Company”) include all adjustments of a normal recurring nature necessary for the fair presentation of the results for the interim periods presented. The results for the interim periods are not necessarily indicative of those for the full year. The condensed consolidated financial statements should be read in conjunction with our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023.

The condensed consolidated financial statements include the balances and results of operations of T-Mobile and our consolidated subsidiaries. We consolidate majority-owned subsidiaries over which we exercise control, as well as variable interest entities (“VIEs”) for which we are deemed to be the primary beneficiary and VIEs, which cannot be deconsolidated, such as those related to our obligations to pay for the management and operation of certain of our wireless communications tower sites. Intercompany transactions and balances have been eliminated in consolidation.

The preparation of financial statements in conformity with United States (“U.S.”) generally accepted accounting principles (“GAAP”) requires our management to make estimates and assumptions that affect the financial statements and accompanying notes. Estimates are based on historical experience, where applicable, and other assumptions that management believes are reasonable under the circumstances. Estimates are inherently subject to judgment and actual results could differ from those estimates.

Accounting Pronouncements Not Yet Adopted

Segment Reporting Disclosures

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The standard expands reportable segment disclosure requirements for public business entities primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit (referred to as the “significant expense principle”). The standard will become effective for us for our fiscal year 2024 annual financial statements and interim financial statements thereafter and will be applied retrospectively for all prior periods presented in the financial statements, with early adoption permitted. We plan to adopt the standard when it becomes effective for us beginning in our fiscal year 2024 annual financial statements. We are currently evaluating the impact this guidance will have on the disclosures included in the Notes to the Consolidated Financial Statements.

Income Tax Disclosures

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The standard enhances income tax disclosure requirements for all entities by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and providing clarification on uncertain tax positions and related financial statement impacts. The standard will be effective for us for our fiscal year 2025 annual financial statements with early adoption permitted. We plan to adopt the standard when it becomes effective for us beginning in our fiscal year 2025 annual financial statements, and we expect the adoption of the standard will impact certain of our income tax disclosures.
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Business Combination
 3 Months Ended
Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]  
Business Combination
Note 2 – Business Combination

Acquisition of Ka’ena Corporation

On March 9, 2023, we entered into a Merger and Unit Purchase Agreement (the “Merger and Unit Purchase Agreement”) for the acquisition of 100% of the outstanding equity of Ka’ena Corporation and its subsidiaries, including, among others, Mint Mobile LLC (collectively, “Ka’ena”), for a maximum purchase price of $1.35 billion to be paid out 39% in cash and 61% in shares of T-Mobile common stock (the “Ka’ena Acquisition”). On March 13, 2024, we entered into Amendment No. 1 to the Merger and Unit Purchase Agreement, which amended, among other things, certain mechanics of the payment of the purchase
consideration for the Ka’ena Acquisition, which will result in a nominal increase in the percentage of cash compared to shares of T-Mobile common stock to be paid out as part of the total purchase price.

The purchase price is variable, dependent upon specified performance indicators of Ka’ena during certain periods before and after closing, and consists of an upfront payment at closing of the transaction, subject to certain agreed-upon working capital and other adjustments, and a variable earnout payable 24 months after closing of the transaction. Our estimate of the upfront payment is subject to Ka’ena’s underlying business performance and the timing of transaction close, and is currently estimated to be $1.2 billion, before working capital and other adjustments, which we currently estimate will result in a net upfront payment of approximately $950 million, with approximately 45% to be paid in cash. Subsequent to March 31, 2024, on April 25, 2024, we received all necessary regulatory approvals and the Ka’ena Acquisition is expected to close on May 1, 2024.
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Receivables and Related Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Receivables and Related Allowance for Credit Losses
Note 3 – Receivables and Related Allowance for Credit Losses

We maintain an allowance for credit losses by applying an expected credit loss model. Each period, management assesses the appropriateness of the level of allowance for credit losses by considering credit risk inherent within each portfolio segment as of the end of the period.

We consider a receivable past due when a customer has not paid us by the contractually specified payment due date. Account balances are written off against the allowance for credit losses if collection efforts are unsuccessful and the receivable balance is deemed uncollectible (customer default), based on factors such as customer credit ratings as well as the length of time the amounts are past due.

Our portfolio of receivables is comprised of two portfolio segments: accounts receivable and equipment installment plan (“EIP”) receivables.

Accounts Receivable Portfolio Segment

Accounts receivable balances are predominately comprised of amounts currently due from customers (e.g., for wireless communications services), device insurance administrators, wholesale partners, other carriers and third-party retail channels.

We estimate credit losses associated with our accounts receivable portfolio segment using an expected credit loss model, which utilizes an aging schedule methodology based on historical information and is adjusted for asset-specific considerations, current economic conditions and reasonable and supportable forecasts.

Our approach considers a number of factors, including our overall historical credit losses and payment experience, as well as current collection trends such as write-off frequency and severity. We also consider other qualitative factors such as current and forecasted macroeconomic conditions.

We consider the need to adjust our estimate of credit losses for reasonable and supportable forecasts of future macroeconomic conditions. To do so, we monitor external forecasts of changes in real U.S. gross domestic product and forecasts of consumer credit behavior for comparable credit exposures.

EIP Receivables Portfolio Segment

Based upon customer credit profiles at the time of customer origination, as well as subsequent credit performance, we classify the EIP receivables segment into two customer classes of “Prime” and “Subprime.” Prime customer receivables are those with lower credit risk, and Subprime customer receivables are those with higher credit risk. Customers may be required to make a down payment on their equipment purchases if their assessed credit risk exceeds established underwriting thresholds. In addition, certain customers within the Subprime category may be required to pay a deposit.

To determine a customer’s credit profile and assist in determining their credit class, we use a proprietary credit scoring model that measures the credit quality of a customer leveraging several factors, such as credit bureau information and consumer credit risk scores, as well as service and device plan characteristics.

EIP receivables had a combined weighted-average effective interest rate of 11.1% and 10.6% as of March 31, 2024, and December 31, 2023, respectively.
The following table summarizes the EIP receivables, including imputed discounts and related allowance for credit losses:
(in millions)March 31,
2024		December 31,
2023
EIP receivables, gross$6,724 $7,271 
Unamortized imputed discount(489)(505)
EIP receivables, net of unamortized imputed discount6,235 6,766 
Allowance for credit losses(268)(268)
EIP receivables, net of allowance for credit losses and imputed discount$5,967 $6,498 
Classified on our condensed consolidated balance sheets as:
Equipment installment plan receivables, net of allowance for credit losses and imputed discount$4,059 $4,456 
Equipment installment plan receivables due after one year, net of allowance for credit losses and imputed discount1,908 2,042 
EIP receivables, net of allowance for credit losses and imputed discount$5,967 $6,498 

Many of our loss estimation techniques rely on delinquency-based models; therefore, delinquency is an important indicator of credit quality in the establishment of our allowance for credit losses for EIP receivables. We manage our EIP receivables portfolio segment using delinquency and customer credit class as key credit quality indicators.

The following table presents the amortized cost of our EIP receivables by delinquency status, customer credit class and year of origination as of March 31, 2024:
Originated in 2024Originated in 2023Originated prior to 2023Total EIP Receivables, Net of
Unamortized Imputed Discount
(in millions)PrimeSubprimePrimeSubprimePrimeSubprimePrimeSubprimeTotal
Current - 30 days past due$1,188 $360 $2,923 $730 $721 $203 $4,832 $1,293 $6,125 
31 - 60 days past due3 4 12 16 4 4 19 24 43 
61 - 90 days past due— 1 10 15 4 3 14 19 33 
More than 90 days past due— — 9 15 6 4 15 19 34 
EIP receivables, net of unamortized imputed discount$1,191 $365 $2,954 $776 $735 $214 $4,880 $1,355 $6,235 

We estimate credit losses on our EIP receivables segment by applying an expected credit loss model, which relies on historical loss data adjusted for current conditions to calculate default probabilities or an estimate for the frequency of customer default. Our assessment of default probabilities or frequency includes receivables delinquency status, historical loss experience, how long the receivables have been outstanding and customer credit ratings, as well as customer tenure. We multiply these estimated default probabilities by our estimated loss given default, which is the estimated amount of default or the severity of loss.

As we do for our accounts receivable portfolio segment, we consider the need to adjust our estimate of credit losses on EIP receivables for reasonable and supportable forecasts of economic conditions through monitoring external forecasts and periodic internal statistical analyses.

The following table presents write-offs of our EIP receivables by year of origination for the three months ended March 31, 2024:
(in millions)Originated in 2024Originated in 2023Originated prior to 2023Total Write-offs
Write-offs$2 $114 $34 $150 
Activity for the three months ended March 31, 2024 and 2023, in the allowance for credit losses and unamortized imputed discount balances for the accounts receivable and EIP receivables segments were as follows:
March 31, 2024March 31, 2023
(in millions)Accounts Receivable AllowanceEIP Receivables AllowanceTotalAccounts Receivable AllowanceEIP Receivables AllowanceTotal
Allowance for credit losses and imputed discount, beginning of period$161 $773 $934 $167 $811 $978 
Bad debt expense132 150 282 107 115 222 
Write-offs(132)(150)(282)(122)(140)(262)
Change in imputed discount on short-term and long-term EIP receivablesN/A31 31 N/A54 54 
Impact on the imputed discount from sales of EIP receivablesN/A(47)(47)N/A(54)(54)
Allowance for credit losses and imputed discount, end of period$161 $757 $918 $152 $786 $938 

Off-Balance-Sheet Credit Exposures

We do not have material off-balance-sheet credit exposures as of March 31, 2024. In connection with the sales of certain service accounts receivable and EIP receivables pursuant to the sale arrangements, we have deferred purchase price assets included on our Condensed Consolidated Balance Sheets measured at fair value that are based on a discounted cash flow model using Level 3 inputs, including estimated customer default rates and credit worthiness, dilutions and recoveries. See Note 4 – Sales of Certain Receivables for further information.
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Sales of Certain Receivables
 3 Months Ended
Mar. 31, 2024
Transfers and Servicing [Abstract]  
Sales of Certain Receivables
Note 4 – Sales of Certain Receivables

We regularly enter into transactions to sell certain service accounts receivable and EIP receivables. The transactions, including our continuing involvement with the sold receivables and the respective impacts to our condensed consolidated financial statements, are described below.

Sales of EIP Receivables

Overview of the Transaction

In 2015, we entered into an arrangement to sell certain EIP receivables on a revolving basis (the “EIP Sale Arrangement”), which has been revised and extended from time to time. As of both March 31, 2024, and December 31, 2023, the EIP Sale Arrangement provided funding of $1.3 billion.

In connection with this EIP Sale Arrangement, we formed a wholly owned subsidiary, which qualifies as a bankruptcy remote entity (the “EIP BRE”). We consolidate the EIP BRE under the VIE model.

The following table summarizes the carrying amounts and classification of assets, which consist primarily of the deferred purchase price, included on our Condensed Consolidated Balance Sheets with respect to the EIP BRE:
(in millions)March 31,
2024		December 31,
2023
Other current assets$330 $348 
Other assets95 103 

Sales of Service Accounts Receivable

Overview of the Transaction

In 2014, we entered into an arrangement to sell certain service accounts receivable on a revolving basis (the “Service Receivable Sale Arrangement”). On February 27, 2024, we extended the scheduled expiration date of the Service Receivable Sale Arrangement to February 25, 2025. As of both March 31, 2024, and December 31, 2023, the Service Receivable Sale Arrangement provided funding of $775 million.
In connection with the Service Receivable Sale Arrangement, we formed a wholly owned subsidiary, which qualifies as a bankruptcy remote entity, to sell service accounts receivable (the “Service BRE”). We consolidate the Service BRE under the VIE model.

The following table summarizes the carrying amounts and classification of assets, which consist primarily of the deferred purchase price, and liabilities included on our Condensed Consolidated Balance Sheets with respect to the Service BRE:
(in millions)March 31,
2024		December 31,
2023
Other current assets$164 $209 
Other current liabilities423 373 

Sales of Receivables

The following table summarizes the impact of the sale of certain service accounts receivable and EIP receivables on our Condensed Consolidated Balance Sheets:
(in millions)March 31,
2024		December 31,
2023
Derecognized net service accounts receivable and EIP receivables$2,249 $2,388 
Other current assets494 557 
of which, deferred purchase price491 555 
Other long-term assets95 103 
of which, deferred purchase price95 103 
Other current liabilities423 373 
Net cash proceeds since inception1,554 1,583 
Of which:
Change in net cash proceeds during the year-to-date period(29)(114)
Net cash proceeds funded by reinvested collections1,583 1,697 

At inception, we elected to measure the deferred purchase price at fair value with changes in fair value included in Selling, general and administrative expenses on our Condensed Consolidated Statements of Comprehensive Income. The fair value of the deferred purchase price is determined based on a discounted cash flow model which uses primarily Level 3 inputs, including estimated customer default rates and credit worthiness, dilutions and recoveries. As of March 31, 2024, and December 31, 2023, our deferred purchase price related to the sales of service accounts receivable and EIP receivables was $586 million and $658 million, respectively.

We recognized losses from sales of receivables, including changes in fair value of the deferred purchase price, of $21 million and $38 million for the three months ended March 31, 2024 and 2023, respectively, in Selling, general and administrative expenses on our Condensed Consolidated Statements of Comprehensive Income.

Continuing Involvement

Pursuant to the sale arrangements described above, we have continuing involvement with the service accounts receivable and EIP receivables we sell as we service the receivables, are required to repurchase certain receivables, including ineligible receivables, aged receivables and receivables where a write-off is imminent, and may be responsible for absorbing credit losses through reduced collections on our deferred purchase price assets. We continue to service the customers and their related receivables, including facilitating customer payment collection, in exchange for a monthly servicing fee. As the receivables are sold on a revolving basis, the customer payment collections on sold receivables may be reinvested in new receivable sales. At the direction of the purchasers of the sold receivables, we apply the same policies and procedures while servicing the sold receivables as we apply to our owned receivables, and we continue to maintain normal relationships with our customers.
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Spectrum License Transactions
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Spectrum License Transactions
Note 5 – Spectrum License Transactions

The following table summarizes our spectrum license activity for the three months ended March 31, 2024:
(in millions)2024
Spectrum licenses, beginning of year$96,707 
Spectrum license acquisitions411 
Spectrum licenses transferred to held for sale(17)
Costs to clear spectrum53 
Spectrum licenses, end of period$97,154 

Cash payments to acquire spectrum licenses and payments for costs to clear spectrum are included in Purchases of spectrum licenses and other intangible assets, including deposits, on our Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024.

Spectrum Transactions

In September 2022, the Federal Communications Commission (“FCC”) announced that we were the winning bidder of 7,156 licenses in Auction 108 (2.5 GHz spectrum) for an aggregate price of $304 million. At inception of Auction 108 in June 2022, we deposited $65 million. We paid the FCC the remaining $239 million for the licenses won in the auction in September 2022. On February 29, 2024, the FCC issued to us the licenses won in Auction 108, and substantially all of these licenses were deployed in March 2024. The licenses are included in Spectrum licenses on our Condensed Consolidated Balance Sheets as of March 31, 2024.

License Purchase Agreements

DISH Network Corporation

On July 1, 2020, we and DISH Network Corporation (“DISH”) entered into a license purchase agreement (the “DISH License Purchase Agreement”) pursuant to which DISH agreed to purchase certain 800 MHz spectrum licenses for a total of approximately $3.6 billion. The closing of the sale of spectrum under the DISH License Purchase Agreement remains subject to FCC approval. On October 15, 2023, we and DISH entered into an amendment (the “LPA Amendment”) to the DISH License Purchase Agreement pursuant to which, among other things, the parties agreed that (1) DISH will pay us a $100 million non-refundable extension fee (in lieu of the approximately $72 million termination fee that had previously been agreed to), (2) the closing for the purchase of the spectrum licenses by DISH will occur no later than April 1, 2024, (3) if DISH has not purchased the spectrum licenses by such date for any reason (including failure to receive the required FCC approval prior to such date), then the DISH License Purchase Agreement will automatically terminate, and we will retain the $100 million extension fee, (4) if DISH does purchase the spectrum by April 1, 2024, the $100 million extension fee will be credited against the $3.6 billion purchase price, and (5) we are permitted to commence auction of the spectrum prior to April 1, 2024 at our discretion (and subject to DISH’s purchase right). The LPA Amendment was approved by the Court and became effective on October 23, 2023. On October 25, 2023, we received a payment of $100 million from DISH for the extension fee and recorded a corresponding liability within Other current liabilities on our Condensed Consolidated Balance Sheets.

Subsequent to March 31, 2024, DISH did not purchase the 800 MHz spectrum by April 1, 2024. As such, we will recognize a gain for the $100 million extension fee previously paid by DISH in the second quarter of 2024 within Selling, general and administrative expenses on our Condensed Consolidated Statements of Comprehensive Income and relieve the liability that was initially recorded upon receipt of the payment. Additionally, we have commenced an auction process for the disposition of the spectrum as required under the final judgment agreed to by us, Deutsche Telekom AG (“DT”), Sprint LLC, SoftBank Group Corp. (“SoftBank”) and DISH with the U.S. District Court for the District of Columbia, which was approved by the Court on April 1, 2020. If the specified minimum price of $3.6 billion is not met in the auction, we would be relieved of the obligation to sell the licenses.

Channel 51 License Co LLC and LB License Co, LLC

On August 8, 2022, we, Channel 51 License Co LLC and LB License Co, LLC (together with Channel 51 License Co LLC, the “Sellers”) entered into License Purchase Agreements pursuant to which we will acquire spectrum in the 600 MHz band from the Sellers in exchange for total cash consideration of $3.5 billion. The licenses will be acquired without any associated networks and are currently being utilized by us through exclusive leasing arrangements with the Sellers.
On March 30, 2023, we and the Sellers entered into Amended and Restated License Purchase Agreements pursuant to which we and the Sellers agreed to separate the transaction into two tranches of licenses, with the closings on the acquisitions of certain licenses in Chicago, Dallas and New Orleans being deferred in order to potentially expedite the regulatory approval process for the remainder of the licenses. Subsequently, on August 25, 2023, we and the Sellers entered into Amendments No. 1 to the Amended and Restated License Purchase Agreements, which deferred the closings of certain additional licenses in Chicago and Dallas into the second closing tranche. Together, the licenses with closings deferred into the second closing tranche represent $1.1 billion of the aggregate $3.5 billion cash consideration. The licenses being acquired by us, and the total consideration being paid for the licenses, remain the same under the original License Purchase Agreements and subsequent amendments.

The FCC approved the purchase of the first tranche on December 29, 2023, and we expect the closing of the first tranche to occur in the second quarter of 2024, with the associated cash payment expected to occur in the third quarter of 2024. We anticipate that the second closing (on the deferred licenses) will occur in late 2024 or early 2025.

The parties have agreed that each of the closings will occur within 180 days after the receipt of the applicable required regulatory approvals, and payment of each portion of the aggregate $3.5 billion purchase price will occur no later than 40 days after the date of each respective closing.
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Fair Value Measurements
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Note 6 – Fair Value Measurements

The carrying values of Cash and cash equivalents, Accounts receivable and Accounts payable and accrued liabilities approximate fair value due to the short-term maturities of these instruments. The carrying values of EIP receivables approximate fair value as the receivables are recorded at their present value using an imputed interest rate.

Derivative Financial Instruments

Periodically, we use derivatives to manage exposure to market risk, such as interest rate risk. We designate certain derivatives as hedging instruments in a qualifying hedge accounting relationship to help minimize significant, unplanned fluctuations in cash flows or fair values caused by designated market risks, such as interest rate volatility. We do not use derivatives for trading or speculative purposes.

Cash flows associated with qualifying hedge derivative instruments are presented in the same category on our Condensed Consolidated Statements of Cash Flows as the item being hedged. For fair value hedges, the change in the fair value of the derivative instruments is recognized in earnings through the same income statement line item as the change in the fair value of the hedged item. For cash flow hedges, the change in the fair value of the derivative instruments is reported in Other comprehensive income and recognized in earnings when the hedged item is recognized in earnings, again, through the same income statement line item.

We did not have any significant derivative instruments outstanding as of March 31, 2024, and December 31, 2023.

Interest Rate Lock Derivatives

In April 2020, we terminated our interest rate lock derivatives entered into in October 2018.

Aggregate changes in the fair value of the interest rate lock derivatives, net of tax and amortization, of $1.1 billion are presented in Accumulated other comprehensive loss on our Condensed Consolidated Balance Sheets as of both March 31, 2024, and December 31, 2023.

For the three months ended March 31, 2024 and 2023, $57 million and $53 million, respectively, were amortized from Accumulated other comprehensive loss into Interest expense, net, on our Condensed Consolidated Statements of Comprehensive Income. We expect to amortize $241 million of the Accumulated other comprehensive loss associated with the derivatives into Interest expense, net, over the 12 months ending March 31, 2025.

Deferred Purchase Price Assets

In connection with the sales of certain service and EIP accounts receivable pursuant to the sale arrangements, we have deferred purchase price assets measured at fair value that are based on a discounted cash flow model using unobservable Level 3 inputs, including estimated customer default rates and credit worthiness, dilutions and recoveries. See Note 4 – Sales of Certain Receivables for further information.
The carrying amounts of our deferred purchase price assets, which are measured at fair value on a recurring basis and are included on our Condensed Consolidated Balance Sheets, were $586 million and $658 million as of March 31, 2024, and December 31, 2023, respectively.

Debt

The fair value of our Senior Notes and spectrum-backed Senior Secured Notes to third parties was determined based on quoted market prices in active markets, and therefore were classified as Level 1 within the fair value hierarchy. The fair value of our Senior Notes to affiliates was determined based on a discounted cash flow approach using market interest rates of instruments with similar terms and maturities and an estimate for our standalone credit risk. Accordingly, our Senior Notes to affiliates were classified as Level 2 within the fair value hierarchy. The fair value of our asset-backed notes (“ABS Notes”) was primarily based on quoted prices in inactive markets for identical instruments and observable changes in market interest rates, both of which are Level 2 inputs. Accordingly, our ABS Notes were classified as Level 2 within the fair value hierarchy.

Although we have determined the estimated fair values using available market information and commonly accepted valuation methodologies, judgment was required in interpreting market data to develop fair value estimates for the Senior Notes to affiliates and ABS Notes. The fair value estimates were based on information available as of March 31, 2024, and December 31, 2023. As such, our estimates are not necessarily indicative of the amount we could realize in a current market exchange.

The carrying amounts and fair values of our short-term and long-term debt included on our Condensed Consolidated Balance Sheets were as follows:
(in millions)Level within the Fair Value HierarchyMarch 31, 2024December 31, 2023
Carrying AmountFair ValueCarrying AmountFair Value
Liabilities:
Senior Notes to third parties1$73,421 $67,914 $70,493 $65,962 
Senior Notes to affiliates21,496 1,464 1,496 1,499 
Senior Secured Notes to third parties12,050 1,994 2,281 2,207 
ABS Notes to third parties21,246 1,244 748 748 
v3.24.1.u1
Debt
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Debt
Note 7 – Debt

The following table sets forth the debt balances and activity as of, and for the three months ended, March 31, 2024:
(in millions)December 31,
2023
Proceeds from Issuances and Borrowings (1)
Repayments
Reclassifications (1)
Other (2)
March 31,
2024
Short-term debt$3,619 $— $(223)$1,983 $(23)$5,356 
Long-term debt69,903 3,473 — (1,983)(32)71,361 
Total debt to third parties73,522 3,473 (223)— (55)76,717 
Long-term debt to affiliates1,496 — — — — 1,496 
Total debt$75,018 $3,473 $(223)$— $(55)$78,213 
(1)Issuances and borrowings and reclassifications are recorded net of accrued or paid issuance costs and discounts.
(2)Other includes the amortization of premiums, discounts, debt issuance costs and consent fees.

Our effective interest rate, excluding the impact of derivatives and capitalized interest, was approximately 4.1% and 4.0% on weighted-average debt outstanding of $77.4 billion and $73.4 billion for the three months ended March 31, 2024 and 2023, respectively. The weighted-average debt outstanding was calculated by applying an average of the monthly ending balances of total short-term and long-term debt to third parties and short-term and long-term debt to affiliates, net of unamortized premiums, discounts, debt issuance costs and consent fees.
Issuances and Borrowings

During the three months ended March 31, 2024, we issued the following Senior Notes:
(in millions)Principal IssuancesDiscounts and Issuance Costs, NetNet Proceeds from Issuance of Long-Term DebtIssue Date
4.850% Senior Notes due 2029
$1,000 $(6)$994 January 12, 2024
5.150% Senior Notes due 2034
1,250 (11)1,239 January 12, 2024
5.500% Senior Notes due 2055
750 (7)743 January 12, 2024
Total of Senior Notes issued$3,000 $(24)$2,976 
5.050% Class A Senior ABS Notes due 2029
$500 $(3)$497 February 14, 2024
Total of ABS Notes issued$500 $(3)$497 

Note Repayments

During the three months ended March 31, 2024, we made the following repayments:
(in millions)Principal AmountRepayment Date
4.738% Secured Series 2018-1 A-1 Notes due 2025
$131 Various
5.152% Series 2018-1 A-2 Notes due 2028
92 Various
Total Repayments$223 

Asset-backed Notes

On February 14, 2024, we issued $500 million of 5.050% Class A Senior ABS Notes to third parties in a private placement transaction. These ABS Notes are secured by $667 million of gross EIP receivables and future collections on such receivables. Net proceeds of $497 million from these ABS Notes are presented in Proceeds from issuance of long-term debt on our Condensed Consolidated Statements of Cash Flows in the three months ended March 31, 2024.

As of March 31, 2024, $1.3 billion of our ABS Notes were secured in total by $1.7 billion of gross EIP receivables and future collections on such receivables. Our ABS Notes and the assets securing this debt are included on our Condensed Consolidated Balance Sheets.

The expected maturities of our ABS Notes as of March 31, 2024, were as follows:
(in millions)Expected Maturities
2024$198 
2025552 
2026459 
202741 
Total$1,250 

Variable Interest Entities

In connection with our ABS Notes issuances, we formed a wholly owned subsidiary, which qualifies as a bankruptcy remote entity (the “ABS BRE”), and a trust (the “ABS Trust” and together with the ABS BRE, the “ABS Entities”), in which the ABS BRE holds a residual interest. Each of the ABS Entities meet the definition of a VIE for which we have determined that we are the primary beneficiary, as we have the power to direct the activities of the ABS Entities that most significantly impact their performance. Accordingly, we include the balances and results of operations of the ABS Entities in our condensed consolidated financial statements.
The following table summarizes the carrying amounts and classification of assets and liabilities included in our Condensed Consolidated Balance Sheets with respect to the ABS Entities:
(in millions)March 31,
2024		December 31,
2023
Assets
Equipment installment plan receivables, net$1,123 $739 
Equipment installment plan receivables due after one year, net376 168 
Other current assets154 101 
Liabilities
Accounts payable and accrued liabilities$2 $1 
Short-term debt413 198 
Long-term debt833 550 

See Note 3 – Receivables and Related Allowance for Credit Losses for additional information on the EIP receivables used to secure the ABS Notes.

Restricted Cash

Certain provisions of our debt agreements require us to maintain specified cash collateral balances. Amounts associated with these balances are considered to be restricted cash. See Note 13 - Additional Financial Information for our reconciliation of Cash and cash equivalents, including restricted cash.
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Tower Obligations
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Tower Obligations
Note 8 – Tower Obligations

Existing CCI Tower Lease Arrangements

In 2012, we conveyed to Crown Castle International Corp. (“CCI”) the exclusive right to manage and operate approximately 6,200 tower sites (“CCI Lease Sites”) via a master prepaid lease with site lease terms ranging from 23 to 37 years. CCI has fixed-price purchase options for the CCI Lease Sites totaling approximately $2.0 billion, exercisable annually on a per-tranche basis at the end of the lease term during the period from December 31, 2035, through December 31, 2049. If CCI exercises its purchase option for any tranche, it must purchase all the towers in the tranche. We lease back a portion of the space at certain tower sites.

Assets and liabilities associated with the operation of the tower sites were transferred to special purpose entities (“SPEs”). Assets included ground lease agreements or deeds for the land on which the towers are situated, the towers themselves and existing subleasing agreements with other mobile network operator tenants that lease space at the tower sites. Liabilities included the obligation to pay ground lease rentals, property taxes and other executory costs.

We determined the SPEs containing the CCI Lease Sites (“Lease Site SPEs”) are VIEs as they lack sufficient equity to finance their activities. We have a variable interest in the Lease Site SPEs but are not the primary beneficiary as we lack the power to direct the activities that most significantly impact the Lease Site SPEs’ economic performance. These activities include managing tenants and underlying ground leases, performing repair and maintenance on the towers, the obligation to absorb expected losses and the right to receive the expected future residual returns from the purchase option to acquire the CCI Lease Sites. As we determined that we are not the primary beneficiary and do not have a controlling financial interest in the Lease Site SPEs, the Lease Site SPEs are not included on our condensed consolidated financial statements.

However, we also considered if this arrangement resulted in the sale of the CCI Lease Sites for which we would derecognize the tower assets. By assessing whether control had transferred, we concluded that transfer of control criteria, as discussed in the revenue standard, were not met. Accordingly, we recorded this arrangement as a financing whereby we recorded debt, a financial obligation, and the CCI Lease Sites tower assets remained on our Condensed Consolidated Balance Sheets. We recorded long-term financial obligations in the amount of the net proceeds received and recognize interest on the tower obligations. The tower obligations are increased by interest expense and amortized through contractual leaseback payments made by us to CCI and through net cash flows generated and retained by CCI from the operation of the tower sites.

Acquired CCI Tower Lease Arrangements

Prior to our merger with Sprint (the “Merger”), Sprint entered into a lease-out and leaseback arrangement with Global Signal Inc., a third party that was subsequently acquired by CCI, that conveyed to CCI the exclusive right to manage and operate approximately 6,400 tower sites (“Master Lease Sites”) via a master prepaid lease. These agreements were assumed upon the
close of the Merger, at which point the remaining term of the lease-out was approximately 17 years with no renewal options. CCI has a fixed price purchase option for all (but not less than all) of the leased or subleased sites for approximately $2.3 billion, exercisable one year prior to the expiration of the agreement and ending 120 days prior to the expiration of the agreement. We lease back a portion of the space at certain tower sites.

We considered if this arrangement resulted in the sale of the Master Lease Sites for which we would derecognize the tower assets. By assessing whether control had transferred, we concluded that transfer of control criteria, as discussed in the revenue standard, were not met. Accordingly, we recorded this arrangement as a financing whereby we recorded debt, a financial obligation, and the Master Lease Sites tower assets remained on our Condensed Consolidated Balance Sheets.

We recognize interest expense on the tower obligations. The tower obligations are increased by the interest expense and amortized through contractual leaseback payments made by us to CCI. The tower assets are reported in Property and equipment, net on our Condensed Consolidated Balance Sheets and are depreciated to their estimated residual values over the expected useful life of the towers, which is 20 years.

Leaseback Arrangement

On January 3, 2022, we entered into an agreement (the “Crown Agreement”) with CCI. The Crown Agreement extends the current term of the leasebacks by up to 12 years and modifies the leaseback payments for both the Existing CCI Tower Lease Arrangements and the Acquired CCI Tower Lease Arrangements. As a result of the Crown Agreement, there was an increase in our financing obligation as of the effective date of the Crown Agreement of approximately $1.2 billion, with a corresponding decrease to Other long-term liabilities associated with unfavorable contract terms. The modification resulted in a revised interest rate under the effective interest method for the tower obligations: 11.6% for the Existing CCI Tower Lease Arrangements and 5.3% for the Acquired CCI Tower Lease Arrangements. There were no changes made to either of our master prepaid leases with CCI.

The following table summarizes the balances associated with both of the tower arrangements on our Condensed Consolidated Balance Sheets:
(in millions)March 31,
2024		December 31,
2023
Property and equipment, net$2,182 $2,220 
Tower obligations3,751 3,777 
Other long-term liabilities554 554 

Future minimum payments related to the tower obligations are approximately $421 million for the 12-month period ending March 31, 2025, $774 million in total for both of the 12-month periods ending March 31, 2026 and 2027, $816 million in total for both of the 12-month periods ending March 31, 2028 and 2029, and $4.0 billion in total thereafter.

We are contingently liable for future ground lease payments through the remaining term of the CCI Lease Sites and the Master Lease Sites. These contingent obligations are not included in Operating lease liabilities, as any amount due is contractually owed by CCI based on the subleasing arrangement. Under the arrangement, we remain primarily liable for ground lease payments on approximately 900 sites and have included lease liabilities of $241 million in our Operating lease liabilities as of March 31, 2024.
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Revenue from Contracts with Customers
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
Note 9 – Revenue from Contracts with Customers

Disaggregation of Revenue

We provide wireless communications services to three primary categories of customers:

•Postpaid customers generally include customers who are qualified to pay after receiving wireless communications services utilizing phones, High Speed Internet, mobile internet devices (including tablets and hotspots), wearables, DIGITS and other connected devices (including SyncUP and IoT);
•Prepaid customers generally include customers who pay for wireless communications services in advance; and
•Wholesale customers include Machine-to-Machine and Mobile Virtual Network Operator customers that operate on our network but are managed by wholesale partners.
Postpaid service revenues, including postpaid phone revenues and postpaid other revenues, were as follows:
Three Months Ended March 31,
(in millions)20242023
Postpaid service revenues
Postpaid phone revenues$11,145 $10,652 
Postpaid other revenues1,486 1,210 
Total postpaid service revenues$12,631 $11,862 

We operate as a single operating segment. The balances presented in each revenue line item on our Condensed Consolidated Statements of Comprehensive Income represent categories of revenue from contracts with customers disaggregated by type of product and service. Postpaid and prepaid service revenues also include revenues earned for providing premium services to customers, such as device insurance services. Revenue generated from the lease of mobile communication devices is included in Equipment revenues on our Condensed Consolidated Statements of Comprehensive Income.

Contract Balances

The contract asset and contract liability balances from contracts with customers as of March 31, 2024, and December 31, 2023, were as follows:
(in millions)Contract
Assets		Contract
Liabilities
Balance as of December 31, 2023$607 $812 
Balance as of March 31, 2024548 836 
Change$(59)$24 

Contract assets primarily represent revenue recognized for equipment sales with promotional bill credits offered to customers that are paid over time and are contingent on the customer maintaining a service contract.

The change in the contract asset balance includes customer activity related to new promotions, offset by billings on existing contracts and impairment, which is recognized as bad debt expense. The current portion of our contract assets of approximately $449 million and $495 million as of March 31, 2024, and December 31, 2023, respectively, was included in Other current assets on our Condensed Consolidated Balance Sheets.

Contract liabilities are recorded when fees are collected, or we have an unconditional right to consideration (a receivable) in advance of delivery of goods or services. Changes in contract liabilities are primarily related to the activity of prepaid customers. Contract liabilities are primarily included in Deferred revenue on our Condensed Consolidated Balance Sheets.

Revenues for the three months ended March 31, 2024 and 2023 include the following:
Three Months Ended March 31,
(in millions)20242023
Amounts included in the beginning of year contract liability balance$698 $667 

Remaining Performance Obligations

As of March 31, 2024, the aggregate amount of transaction price allocated to remaining service performance obligations for postpaid contracts with subsidized devices and promotional bill credits that result in an extended service contract is $1.3 billion. We expect to recognize revenue as the service is provided on these postpaid contracts over an extended contract term of 24 months from the time of origination.

Information about remaining performance obligations that are part of a contract that has an original expected duration of one year or less has been excluded from the above, which primarily consists of monthly service contracts.

Certain of our wholesale, roaming and service contracts include variable consideration based on usage and performance. This variable consideration has been excluded from the disclosure of remaining performance obligations. As of March 31, 2024, the aggregate amount of the contractual minimum consideration for wholesale, roaming and service contracts is $1.3 billion, $1.6 billion and $2.8 billion for the remainder of 2024, 2025, and 2026 and beyond, respectively. These contracts have a remaining duration ranging from less than one year to eight years.
Contract Costs

The balance of deferred incremental costs to obtain contracts with customers was $2.1 billion as of both March 31, 2024, and December 31, 2023, and is included in Other assets on our Condensed Consolidated Balance Sheets. Deferred contract costs incurred to obtain postpaid service contracts are amortized over a period of 24 months. The amortization period is monitored to reflect any significant change in assumptions. Amortization of deferred contract costs included in Selling, general and administrative expenses on our Condensed Consolidated Statements of Comprehensive Income were $489 million and $422 million for the three months ended March 31, 2024 and 2023, respectively.

The deferred contract cost asset is assessed for impairment on a periodic basis. There were no impairment losses recognized on deferred contract cost assets for the three months ended March 31, 2024 and 2023.
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Stockholder Return Program
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Stockholder Return Program
Note 10 – Stockholder Return Program

2023-2024 Stockholder Return Program

On September 6, 2023, our Board of Directors authorized our 2023-2024 Stockholder Return Program of up to $19.0 billion that will run from October 1, 2023, through December 31, 2024 (the “2023-2024 Stockholder Return Program”). The 2023-2024 Stockholder Return Program consists of repurchases of shares of our common stock and the payment of cash dividends.

On January 24, 2024, our Board of Directors declared a cash dividend of $0.65 per share on our issued and outstanding common stock, which was paid on March 14, 2024, to stockholders of record as of the close of business on March 1, 2024.

On March 15, 2024, our Board of Directors declared a cash dividend of $0.65 per share on our issued and outstanding common stock, which is payable on June 13, 2024, to stockholders of record as of the close of business on May 31, 2024.

During the three months ended March 31, 2024, we paid an aggregate of $769 million in cash dividends to our stockholders, which was presented within Net cash used in financing activities on our Condensed Consolidated Statements of Cash Flows, of which $388 million was paid to DT. As of March 31, 2024, $756 million for dividends payable is presented within Other current liabilities on our Condensed Consolidated Balance Sheets, of which $386 million is payable to DT.

During the three months ended March 31, 2024, we repurchased 21,933,790 shares of our common stock at an average price per share of $162.69 for a total purchase price of $3.6 billion under the 2023-2024 Stockholder Return Program. All shares repurchased during the three months ended March 31, 2024, were purchased at market price. As of March 31, 2024, we had up to $11.7 billion remaining under the 2023-2024 Stockholder Return Program for repurchases of shares and quarterly dividends through December 31, 2024. The next quarterly cash dividend will be paid on June 13, 2024.

Subsequent to March 31, 2024, from April 1, 2024, through April 19, 2024, we repurchased 5,427,946 shares of our common stock at an average price per share of $160.97 for a total purchase price of $874 million. As of April 19, 2024, we had up to $10.8 billion remaining under the 2023-2024 Stockholder Return Program for repurchases of shares and quarterly dividends through December 31, 2024.
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Earnings Per Share
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
Note 11 – Earnings Per Share

The computation of basic and diluted earnings per share was as follows:
Three Months Ended March 31,
(in millions, except shares and per share amounts)20242023
Net income$2,374 $1,940 
Weighted-average shares outstanding – basic1,185,298,497 1,219,608,362 
Effect of dilutive securities:
Outstanding stock options, unvested stock awards3,793,522 4,996,336 
Weighted-average shares outstanding – diluted1,189,092,019 1,224,604,698 
Earnings per share – basic$2.00 $1.59 
Earnings per share – diluted$2.00 $1.58 
Potentially dilutive securities:
Outstanding stock options and unvested stock awards6 98,175 
SoftBank contingent consideration (1)
— 48,751,557 
(1)     Represents the weighted-average number of shares (“SoftBank Specified Shares”) that were contingently issuable from the Merger date of April 1, 2020, pursuant to a letter agreement dated February 20, 2020, between T-Mobile, SoftBank and DT (the “Letter Agreement”). The SoftBank Specified Shares were determined to be contingent consideration for the Merger and was not dilutive until the defined volume-weighted average price per share was reached (the “Threshold Price”). As of the close of trading on December 22, 2023, the Threshold Price was reached. On December 28, 2023, the Company issued the SoftBank Specified Shares to SoftBank in accordance with the Letter Agreement.

As of March 31, 2024, we had authorized 100 million shares of preferred stock, with a par value of $0.00001 per share. There was no preferred stock outstanding as of March 31, 2024 and 2023. Potentially dilutive securities were not included in the computation of diluted earnings per share if to do so would have been anti-dilutive.
v3.24.1.u1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Note 12 – Commitments and Contingencies

Merger Commitments

In connection with the regulatory proceedings and approvals of the Merger pursuant to the Business Combination Agreement with Sprint and the other parties named therein (as amended, the “Business Combination Agreement”) and the other transactions contemplated by the Business Combination Agreement (collectively, the “Transactions”), we have commitments and other obligations to various state and federal agencies and certain nongovernmental organizations, including pursuant to the Consent Decree agreed to by us, DT, Sprint, SoftBank and DISH and entered by the U.S. District Court for the District of Columbia, and the FCC’s memorandum opinion and order approving our applications for approval of the Merger. These commitments and obligations include, among other things, extensive 5G network build-out commitments, obligations to deliver high-speed wireless services to the vast majority of Americans, including Americans residing in rural areas, and the marketing of an in-home broadband product where spectrum capacity is available. Other commitments relate to national security, pricing, service, employment and support of diversity initiatives. Many of the commitments specify time frames for compliance and reporting. Failure to fulfill our obligations and commitments in a timely manner could result in substantial fines, penalties, or other legal and administrative actions.

Contingencies and Litigation

Litigation and Regulatory Matters

We are involved in various lawsuits and disputes, claims, government agency investigations and enforcement actions, and other proceedings (“Litigation and Regulatory Matters”) that arise in the ordinary course of business, which include claims of patent infringement (most of which are asserted by non-practicing entities primarily seeking monetary damages), class actions, and proceedings to enforce FCC or other government agency rules and regulations. Those Litigation and Regulatory Matters are at various stages, and some of them may proceed to trial, arbitration, hearing, or other adjudication that could result in fines, penalties, or awards of monetary or injunctive relief in the coming 12 months if they are not otherwise resolved. We have established an accrual with respect to certain of these matters, where appropriate. The accruals are reflected on our condensed consolidated financial statements, but they are not considered to be, individually or in the aggregate, material. An accrual is established when we believe it is both probable that a loss has been incurred and an amount can be reasonably estimated. For
other matters, where we have not determined that a loss is probable or because the amount of loss cannot be reasonably estimated, we have not recorded an accrual due to various factors typical in contested proceedings, including, but not limited to, uncertainty concerning legal theories and their resolution by courts or regulators, uncertain damage theories and demands, and a less than fully developed factual record. For Litigation and Regulatory Matters that may result in a contingent gain, we recognize such gains on our condensed consolidated financial statements when the gain is realized or realizable. We recognize legal costs expected to be incurred in connection with Litigation and Regulatory Matters as they are incurred. Except as otherwise specified below, we do not expect that the ultimate resolution of these Litigation and Regulatory Matters, individually or in the aggregate, will have a material adverse effect on our financial position, but we note that an unfavorable outcome of some or all of the specific matters identified below or other matters that we are or may become involved in could have a material adverse impact on results of operations or cash flows for a particular period. This assessment is based on our current understanding of relevant facts and circumstances. As such, our view of these matters is subject to inherent uncertainties and may change in the future.

On February 28, 2020, we received a Notice of Apparent Liability for Forfeiture and Admonishment from the FCC, which proposed a penalty against us for allegedly violating section 222 of the Communications Act and the FCC’s regulations governing the privacy of customer information. We have included an accrual for the settlement amount that we believe to be probable in Accounts payable and accrued liabilities on our Condensed Consolidated Balance Sheets as of March 31, 2024.

On April 1, 2020, in connection with the closing of the Merger, we assumed the contingencies and litigation matters of Sprint. Those matters include a wide variety of disputes, claims, government agency investigations and enforcement actions, and other proceedings. These matters include, among other things, certain ongoing FCC and state government agency investigations into Sprint’s Lifeline program. In September 2019, Sprint notified the FCC that it had claimed monthly subsidies for serving subscribers, even though these subscribers may not have met usage requirements under Sprint's usage policy for the Lifeline program, due to an inadvertent coding issue in the system used to identify qualifying subscriber usage that occurred in July 2017 while the system was being updated. Sprint has made a number of payments to reimburse the federal government and certain states for excess subsidy payments.

We note that, pursuant to Amendment No. 2, dated as of February 20, 2020, to the Business Combination Agreement, dated as of April 29, 2018, by and among the Company, Sprint and the other parties named therein, SoftBank agreed to indemnify us against certain specified matters and losses, including those relating to the Lifeline matters described above. Resolution of these matters could require us to make additional reimbursements and pay additional fines and penalties, which we do not expect to have a significant impact on our financial results. We expect that any additional liabilities related to these indemnified matters would be indemnified and reimbursed by SoftBank.

On June 1, 2021, a putative shareholder class action and derivative lawsuit was filed in the Delaware Court of Chancery, Dinkevich v. Deutsche Telekom AG, et al., Case No. C.A. No. 2021-0479, against DT, SoftBank and certain of our current and former officers and directors, asserting breach of fiduciary duty claims relating to the repricing amendment to the Business Combination Agreement and to SoftBank’s monetization of its T-Mobile shares. We are also named as a nominal defendant in the case. We are unable to predict the potential outcome of these claims.

On August 12, 2021, we became aware of a cybersecurity issue involving unauthorized access to T-Mobile’s systems (the “August 2021 cyberattack”). We immediately began an investigation and engaged cybersecurity experts to assist with the assessment of the incident and to help determine what data was impacted. Our investigation uncovered that the perpetrator had illegally gained access to certain areas of our systems on or about March 18, 2021, but only gained access to and took data of current, former, and prospective customers beginning on or about August 3, 2021. With the assistance of our outside cybersecurity experts, we located and closed the unauthorized access to our systems and identified current, former and prospective customers whose information was impacted and notified them, consistent with state and federal requirements. We also undertook a number of other measures to demonstrate our continued support and commitment to data privacy and protection. We also coordinated with law enforcement. Our forensic investigation is complete, and we believe we have a full view of the data compromised.

As a result of the August 2021 cyberattack, we have become subject to numerous lawsuits, including mass arbitration claims and multiple class action lawsuits that have been filed in numerous jurisdictions seeking, among other things, unspecified monetary damages, costs and attorneys’ fees arising out of the August 2021 cyberattack. In December 2021, the Judicial Panel on Multidistrict Litigation consolidated the federal class action lawsuits in the U.S. District Court for the Western District of Missouri under the caption In re: T-Mobile Customer Data Security Breach Litigation, Case No. 21-md-3019-BCW. On July 22, 2022, we entered into an agreement to settle the lawsuit. On June 29, 2023, the Court issued an order granting final approval of the settlement, which is subject to potential appeals. Under the terms of the settlement, we would pay an aggregate of $350 million to fund claims submitted by class members, the legal fees of plaintiffs’ counsel and the costs of administering the settlement. We also committed to an aggregate incremental spend of $150 million for data security and related technology in
2022 and 2023. We previously paid $35 million for claims administration purposes. On July 31, 2023, a class member filed an appeal to the final approval order challenging the Court’s award of attorneys’ fees to class counsel. We expect the remaining portion of the $350 million settlement payment to fund claims to be made once that appeal is resolved. We anticipate that, upon exhaustion of any appeals, the settlement will provide a full release of all claims arising out of the August 2021 cyberattack by class members who do not opt out, against all defendants, including us, our subsidiaries and affiliates, and our directors and officers. The settlement contains no admission of liability, wrongdoing or responsibility by any of the defendants. We have the right to terminate the settlement agreement under certain conditions.

We anticipate that this settlement of the class action, along with other settlements of separate consumer claims that have been previously completed or are currently pending, will resolve substantially all of the claims brought to date by our current, former and prospective customers who were impacted by the 2021 cyberattack. In connection with the proposed class action settlement and the separate settlements, we recorded a total pre-tax charge of approximately $400 million in the second quarter of 2022. During the three months ended March 31, 2023, we recognized $50 million in reimbursements from insurance carriers for costs incurred related to the August 2021 cyberattack, which is included as a reduction to Selling, general and administrative expenses on our Condensed Consolidated Statements of Comprehensive Income. The ultimate resolution of the class action depends on the number of plaintiffs who opt out of the proposed settlement and whether the proposed settlement will be appealed.

In addition, in September 2022, a purported Company shareholder filed a derivative action in the Delaware Chancery Court under the caption Harper v. Sievert et al., Case No. 2022-0819-SG, against our current directors and certain of our former directors, alleging claims for breach of fiduciary duty relating to the Company’s cybersecurity practices. We are also named as a nominal defendant in the lawsuit. We are unable at this time to predict the potential outcome of this lawsuit or whether we may be subject to further private litigation.

We have also received inquiries from various government agencies, law enforcement and other governmental authorities related to the August 2021 cyberattack, which could result in substantial fines or penalties. We are cooperating fully with these agencies and regulators and working with them to resolve these matters. While we hope to resolve them in the near term, we cannot predict the timing or outcome of any of these matters or whether we may be subject to further regulatory inquiries, investigations, or enforcement actions.

In light of the inherent uncertainties involved in such matters and based on the information currently available to us, in addition to the previously recorded pre-tax charge of approximately $400 million noted above, we believe it is reasonably possible that we could incur additional losses associated with these proceedings and inquiries, and we will continue to evaluate information as it becomes known and will record an estimate for losses at the time or times when it is both probable that a loss has been incurred and the amount of the loss is reasonably estimable. Ongoing legal and other costs related to these proceedings and inquiries, as well as any potential future actions, may be substantial, and losses associated with any adverse judgments, settlements, penalties or other resolutions of such proceedings and inquiries could be material to our business, reputation, financial condition, cash flows and operating results.

On June 17, 2022, plaintiffs filed a putative antitrust class action complaint in the Northern District of Illinois, Dale et al. v. Deutsche Telekom AG, et al., Case No. 1:22-cv-03189, against DT, T-Mobile, and SoftBank, alleging that the Merger violated the antitrust laws and harmed competition in the U.S. retail cell service market. Plaintiffs seek injunctive relief and trebled monetary damages on behalf of a purported class of AT&T and Verizon customers who plaintiffs allege paid artificially inflated prices due to the Merger. We are vigorously defending this lawsuit, but we are unable to predict the potential outcome.

On January 5, 2023, we identified that a bad actor was obtaining data through a single Application Programming Interface (“API”) without authorization. Based on our investigation, the impacted API is only able to provide a limited set of customer account data, including name, billing address, email, phone number, date of birth, T-Mobile account number and information such as the number of lines on the account and plan features. The result from our investigation indicates that the bad actor(s) obtained data from this API for approximately 37 million current postpaid and prepaid customer accounts, though many of these accounts did not include the full data set. We believe that the bad actor first retrieved data through the impacted API starting on or around November 25, 2022. We have notified individuals whose information was impacted consistent with state and federal requirements.

In connection with the January 2023 cyberattack, we became subject to consumer class actions and regulatory inquiries, to which we will continue to respond in due course and may incur significant expenses. However, we cannot predict the timing or outcome of any of these potential matters or whether we may be subject to additional legal proceedings, claims, regulatory inquiries, investigations, or enforcement actions. In addition, we are unable to predict the full impact of this incident on customer behavior in the future, including whether a change in our customers’ behavior could negatively impact our results of operations on an ongoing basis, although we presently do not expect that it will have a material effect on our operations.
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Additional Financial Information
 3 Months Ended
Mar. 31, 2024
Supplemental Financial Statement Elements [Abstract]  
Additional Financial Information
Note 13 – Additional Financial Information

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities are summarized as follows:
(in millions)March 31,
2024		December 31,
2023
Accounts payable$3,345 $5,573 
Payroll and related benefits682 1,142 
Property and other taxes, including payroll1,694 1,704 
Accrued interest887 818 
Other accrued liabilities1,112 1,136 
Accounts payable and accrued liabilities$7,720 $10,373 

Book overdrafts included in accounts payable were $702 million and $740 million as of March 31, 2024, and December 31, 2023, respectively.

Supplemental Condensed Consolidated Statements of Cash Flows Information

The following table summarizes T-Mobile’s supplemental cash flow information:
Three Months Ended March 31,
(in millions)20242023
Interest payments, net of amounts capitalized$896 $840 
Operating lease payments1,344 1,314 
Income tax payments7 27 
Non-cash investing and financing activities
Non-cash beneficial interest obtained in exchange for securitized receivables$661 $1,119 
Change in accounts payable and accrued liabilities for purchases of property and equipment(894)(329)
Operating lease right-of-use assets obtained in exchange for lease obligations487 439 
Financing lease right-of-use assets obtained in exchange for lease obligations263 239 

Cash and cash equivalents, including restricted cash

Cash and cash equivalents, including restricted cash, presented on our Condensed Consolidated Statements of Cash Flows were included on our Condensed Consolidated Balance Sheets as follows:
(in millions)March 31,
2024		December 31,
2023
Cash and cash equivalents$6,708 $5,135 
Restricted cash (included in Other current assets)154 101 
Restricted cash (included in Other assets)76 71 
Cash and cash equivalents, including restricted cash$6,938 $5,307 
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Subsequent Events
 3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events
Note 14 – Subsequent Events

Subsequent to March 31, 2024, from April 1, 2024, through April 19, 2024, we repurchased 5,427,946 shares of our common stock at an average price per share of $160.97 for a total purchase price of $874 million. See Note 10 - Stockholder Return Program for additional information regarding the 2023-2024 Stockholder Return Program.

Subsequent to March 31, 2024, on April 24, 2024, we entered into a Merger Agreement with a fund operated by EQT Infrastructure VI fund (“Fund VI”) for the joint acquisition by us and Fund VI of Lumos, a fiber-to-the-home platform (“Lumos”), from EQT’s predecessor fund EQT Infrastructure III. The Lumos acquisition is expected to close in late 2024 or early 2025, subject to customary closing conditions and regulatory approvals. At closing, we expect to invest approximately $950 million in the joint venture to acquire a 50% equity interest and all existing fiber customers. The funds invested by us will be used to fund future fiber builds. In addition, we are expected to contribute an additional commitment of approximately $500 million between 2027 and 2028.

Subsequent to March 31, 2024, on April 25, 2024, we received all necessary regulatory approvals for the Ka’ena Acquisition, which is expected to close on May 1, 2024. See Note 2 - Business Combination for more information.
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Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pay vs Performance Disclosure    
Net income $ 2,374 $ 1,940
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Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2024
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Jonathan Freier [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On February 21, 2024, Jonathan Freier, the Company’s President, Consumer Group, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) to sell up to 30,000 shares of the Company’s common stock between May 23, 2024, and October 31, 2024, subject to certain conditions. The duration of this trading plan is 253 days.
Name Jonathan Freier
Title President
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 21, 2024
Arrangement Duration 253 days
Aggregate Available 30,000
Mark Nelson [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On February 21, 2024, Mark Nelson, the Company’s Executive Vice President and General Counsel, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) to sell all of the Company’s common stock he acquires on October 11, 2024, and February 15, 2025, respectively, upon the vesting of certain time-based restricted stock unit awards and performance-based restricted stock unit awards (“PRSUs”), for a total of up to 167,923 shares if the PRSUs vest at maximum value, subject to certain conditions. The duration of this trading plan is 360 days.
Name Mark Nelson
Title Executive Vice President and General Counsel
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 21, 2024
Arrangement Duration 360 days
Aggregate Available 167,923
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Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidation
The unaudited condensed consolidated financial statements of T-Mobile US, Inc. (“T-Mobile,” “we,” “our,” “us” or the “Company”) include all adjustments of a normal recurring nature necessary for the fair presentation of the results for the interim periods presented. The results for the interim periods are not necessarily indicative of those for the full year. The condensed consolidated financial statements should be read in conjunction with our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023.

The condensed consolidated financial statements include the balances and results of operations of T-Mobile and our consolidated subsidiaries. We consolidate majority-owned subsidiaries over which we exercise control, as well as variable interest entities (“VIEs”) for which we are deemed to be the primary beneficiary and VIEs, which cannot be deconsolidated, such as those related to our obligations to pay for the management and operation of certain of our wireless communications tower sites. Intercompany transactions and balances have been eliminated in consolidation.
Basis of Accounting The preparation of financial statements in conformity with United States (“U.S.”) generally accepted accounting principles (“GAAP”) requires our management to make estimates and assumptions that affect the financial statements and accompanying notes.
Use of Estimates Estimates are based on historical experience, where applicable, and other assumptions that management believes are reasonable under the circumstances. Estimates are inherently subject to judgment and actual results could differ from those estimates.
Accounting Pronouncements Not Yet Adopted
Accounting Pronouncements Not Yet Adopted

Segment Reporting Disclosures

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The standard expands reportable segment disclosure requirements for public business entities primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit (referred to as the “significant expense principle”). The standard will become effective for us for our fiscal year 2024 annual financial statements and interim financial statements thereafter and will be applied retrospectively for all prior periods presented in the financial statements, with early adoption permitted. We plan to adopt the standard when it becomes effective for us beginning in our fiscal year 2024 annual financial statements. We are currently evaluating the impact this guidance will have on the disclosures included in the Notes to the Consolidated Financial Statements.

Income Tax Disclosures

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The standard enhances income tax disclosure requirements for all entities by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and providing clarification on uncertain tax positions and related financial statement impacts. The standard will be effective for us for our fiscal year 2025 annual financial statements with early adoption permitted. We plan to adopt the standard when it becomes effective for us beginning in our fiscal year 2025 annual financial statements, and we expect the adoption of the standard will impact certain of our income tax disclosures.
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Receivables and Related Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Schedule of Equipment Installment Plan Receivables
The following table summarizes the EIP receivables, including imputed discounts and related allowance for credit losses:
(in millions)March 31,
2024		December 31,
2023
EIP receivables, gross$6,724 $7,271 
Unamortized imputed discount(489)(505)
EIP receivables, net of unamortized imputed discount6,235 6,766 
Allowance for credit losses(268)(268)
EIP receivables, net of allowance for credit losses and imputed discount$5,967 $6,498 
Classified on our condensed consolidated balance sheets as:
Equipment installment plan receivables, net of allowance for credit losses and imputed discount$4,059 $4,456 
Equipment installment plan receivables due after one year, net of allowance for credit losses and imputed discount1,908 2,042 
EIP receivables, net of allowance for credit losses and imputed discount$5,967 $6,498 
Schedule of Equipment Installment Plan Receivables by Credit Category
The following table presents the amortized cost of our EIP receivables by delinquency status, customer credit class and year of origination as of March 31, 2024:
Originated in 2024Originated in 2023Originated prior to 2023Total EIP Receivables, Net of
Unamortized Imputed Discount
(in millions)PrimeSubprimePrimeSubprimePrimeSubprimePrimeSubprimeTotal
Current - 30 days past due$1,188 $360 $2,923 $730 $721 $203 $4,832 $1,293 $6,125 
31 - 60 days past due3 4 12 16 4 4 19 24 43 
61 - 90 days past due— 1 10 15 4 3 14 19 33 
More than 90 days past due— — 9 15 6 4 15 19 34 
EIP receivables, net of unamortized imputed discount$1,191 $365 $2,954 $776 $735 $214 $4,880 $1,355 $6,235 
Schedule of Write Offs Net of Recoveries
The following table presents write-offs of our EIP receivables by year of origination for the three months ended March 31, 2024:
(in millions)Originated in 2024Originated in 2023Originated prior to 2023Total Write-offs
Write-offs$2 $114 $34 $150 
Schedule of Unamortized Imputed Discount and Allowance for Credit Losses for Equipment Installment Plan Receivables
Activity for the three months ended March 31, 2024 and 2023, in the allowance for credit losses and unamortized imputed discount balances for the accounts receivable and EIP receivables segments were as follows:
March 31, 2024March 31, 2023
(in millions)Accounts Receivable AllowanceEIP Receivables AllowanceTotalAccounts Receivable AllowanceEIP Receivables AllowanceTotal
Allowance for credit losses and imputed discount, beginning of period$161 $773 $934 $167 $811 $978 
Bad debt expense132 150 282 107 115 222 
Write-offs(132)(150)(282)(122)(140)(262)
Change in imputed discount on short-term and long-term EIP receivablesN/A31 31 N/A54 54 
Impact on the imputed discount from sales of EIP receivablesN/A(47)(47)N/A(54)(54)
Allowance for credit losses and imputed discount, end of period$161 $757 $918 $152 $786 $938 
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Sales of Certain Receivables (Tables)
 3 Months Ended
Mar. 31, 2024
Transfers and Servicing [Abstract]  
Schedule of Variable Interest Entities - EIP
The following table summarizes the carrying amounts and classification of assets, which consist primarily of the deferred purchase price, included on our Condensed Consolidated Balance Sheets with respect to the EIP BRE:
(in millions)March 31,
2024		December 31,
2023
Other current assets$330 $348 
Other assets95 103 
Schedule of Variable Interest Entities
The following table summarizes the carrying amounts and classification of assets, which consist primarily of the deferred purchase price, and liabilities included on our Condensed Consolidated Balance Sheets with respect to the Service BRE:
(in millions)March 31,
2024		December 31,
2023
Other current assets$164 $209 
Other current liabilities423 373 
The following table summarizes the carrying amounts and classification of assets and liabilities included in our Condensed Consolidated Balance Sheets with respect to the ABS Entities:
(in millions)March 31,
2024		December 31,
2023
Assets
Equipment installment plan receivables, net$1,123 $739 
Equipment installment plan receivables due after one year, net376 168 
Other current assets154 101 
Liabilities
Accounts payable and accrued liabilities$2 $1 
Short-term debt413 198 
Long-term debt833 550 
Schedule of Factoring Arrangement
The following table summarizes the impact of the sale of certain service accounts receivable and EIP receivables on our Condensed Consolidated Balance Sheets:
(in millions)March 31,
2024		December 31,
2023
Derecognized net service accounts receivable and EIP receivables$2,249 $2,388 
Other current assets494 557 
of which, deferred purchase price491 555 
Other long-term assets95 103 
of which, deferred purchase price95 103 
Other current liabilities423 373 
Net cash proceeds since inception1,554 1,583 
Of which:
Change in net cash proceeds during the year-to-date period(29)(114)
Net cash proceeds funded by reinvested collections1,583 1,697 
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Spectrum License Transactions (Tables)
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Spectrum Licenses
The following table summarizes our spectrum license activity for the three months ended March 31, 2024:
(in millions)2024
Spectrum licenses, beginning of year$96,707 
Spectrum license acquisitions411 
Spectrum licenses transferred to held for sale(17)
Costs to clear spectrum53 
Spectrum licenses, end of period$97,154 
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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Carrying Values and Fair Values of Long-term Debt
The carrying amounts and fair values of our short-term and long-term debt included on our Condensed Consolidated Balance Sheets were as follows:
(in millions)Level within the Fair Value HierarchyMarch 31, 2024December 31, 2023
Carrying AmountFair ValueCarrying AmountFair Value
Liabilities:
Senior Notes to third parties1$73,421 $67,914 $70,493 $65,962 
Senior Notes to affiliates21,496 1,464 1,496 1,499 
Senior Secured Notes to third parties12,050 1,994 2,281 2,207 
ABS Notes to third parties21,246 1,244 748 748 
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Debt (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt Balances and Activity
The following table sets forth the debt balances and activity as of, and for the three months ended, March 31, 2024:
(in millions)December 31,
2023
Proceeds from Issuances and Borrowings (1)
Repayments
Reclassifications (1)
Other (2)
March 31,
2024
Short-term debt$3,619 $— $(223)$1,983 $(23)$5,356 
Long-term debt69,903 3,473 — (1,983)(32)71,361 
Total debt to third parties73,522 3,473 (223)— (55)76,717 
Long-term debt to affiliates1,496 — — — — 1,496 
Total debt$75,018 $3,473 $(223)$— $(55)$78,213 
(1)Issuances and borrowings and reclassifications are recorded net of accrued or paid issuance costs and discounts.
(2)Other includes the amortization of premiums, discounts, debt issuance costs and consent fees.
During the three months ended March 31, 2024, we issued the following Senior Notes:
(in millions)Principal IssuancesDiscounts and Issuance Costs, NetNet Proceeds from Issuance of Long-Term DebtIssue Date
4.850% Senior Notes due 2029
$1,000 $(6)$994 January 12, 2024
5.150% Senior Notes due 2034
1,250 (11)1,239 January 12, 2024
5.500% Senior Notes due 2055
750 (7)743 January 12, 2024
Total of Senior Notes issued$3,000 $(24)$2,976 
5.050% Class A Senior ABS Notes due 2029
$500 $(3)$497 February 14, 2024
Total of ABS Notes issued$500 $(3)$497 
Schedule of Debt Instrument Redemption and Repayments
During the three months ended March 31, 2024, we made the following repayments:
(in millions)Principal AmountRepayment Date
4.738% Secured Series 2018-1 A-1 Notes due 2025
$131 Various
5.152% Series 2018-1 A-2 Notes due 2028
92 Various
Total Repayments$223 
Schedule of Maturities of ABS Notes
The expected maturities of our ABS Notes as of March 31, 2024, were as follows:
(in millions)Expected Maturities
2024$198 
2025552 
2026459 
202741 
Total$1,250 
Schedule of Variable Interest Entities
The following table summarizes the carrying amounts and classification of assets, which consist primarily of the deferred purchase price, and liabilities included on our Condensed Consolidated Balance Sheets with respect to the Service BRE:
(in millions)March 31,
2024		December 31,
2023
Other current assets$164 $209 
Other current liabilities423 373 
The following table summarizes the carrying amounts and classification of assets and liabilities included in our Condensed Consolidated Balance Sheets with respect to the ABS Entities:
(in millions)March 31,
2024		December 31,
2023
Assets
Equipment installment plan receivables, net$1,123 $739 
Equipment installment plan receivables due after one year, net376 168 
Other current assets154 101 
Liabilities
Accounts payable and accrued liabilities$2 $1 
Short-term debt413 198 
Long-term debt833 550 
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Tower Obligations (Tables)
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Schedule of Impacts to Consolidated Balance Sheets
The following table summarizes the balances associated with both of the tower arrangements on our Condensed Consolidated Balance Sheets:
(in millions)March 31,
2024		December 31,
2023
Property and equipment, net$2,182 $2,220 
Tower obligations3,751 3,777 
Other long-term liabilities554 554 
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Revenue from Contracts with Customers (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Postpaid service revenues, including postpaid phone revenues and postpaid other revenues, were as follows:
Three Months Ended March 31,
(in millions)20242023
Postpaid service revenues
Postpaid phone revenues$11,145 $10,652 
Postpaid other revenues1,486 1,210 
Total postpaid service revenues$12,631 $11,862 
Schedule of Contract Liability and Receivable Balances
The contract asset and contract liability balances from contracts with customers as of March 31, 2024, and December 31, 2023, were as follows:
(in millions)Contract
Assets		Contract
Liabilities
Balance as of December 31, 2023$607 $812 
Balance as of March 31, 2024548 836 
Change$(59)$24 
Revenues for the three months ended March 31, 2024 and 2023 include the following:
Three Months Ended March 31,
(in millions)20242023
Amounts included in the beginning of year contract liability balance$698 $667 
v3.24.1.u1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Share
The computation of basic and diluted earnings per share was as follows:
Three Months Ended March 31,
(in millions, except shares and per share amounts)20242023
Net income$2,374 $1,940 
Weighted-average shares outstanding – basic1,185,298,497 1,219,608,362 
Effect of dilutive securities:
Outstanding stock options, unvested stock awards3,793,522 4,996,336 
Weighted-average shares outstanding – diluted1,189,092,019 1,224,604,698 
Earnings per share – basic$2.00 $1.59 
Earnings per share – diluted$2.00 $1.58 
Potentially dilutive securities:
Outstanding stock options and unvested stock awards6 98,175 
SoftBank contingent consideration (1)
— 48,751,557 
(1)     Represents the weighted-average number of shares (“SoftBank Specified Shares”) that were contingently issuable from the Merger date of April 1, 2020, pursuant to a letter agreement dated February 20, 2020, between T-Mobile, SoftBank and DT (the “Letter Agreement”). The SoftBank Specified Shares were determined to be contingent consideration for the Merger and was not dilutive until the defined volume-weighted average price per share was reached (the “Threshold Price”). As of the close of trading on December 22, 2023, the Threshold Price was reached. On December 28, 2023, the Company issued the SoftBank Specified Shares to SoftBank in accordance with the Letter Agreement.
v3.24.1.u1
Additional Financial Information (Tables)
 3 Months Ended
Mar. 31, 2024
Supplemental Financial Statement Elements [Abstract]  
Schedule of Accounts Payable and Accrued Liabilities
Accounts payable and accrued liabilities are summarized as follows:
(in millions)March 31,
2024		December 31,
2023
Accounts payable$3,345 $5,573 
Payroll and related benefits682 1,142 
Property and other taxes, including payroll1,694 1,704 
Accrued interest887 818 
Other accrued liabilities1,112 1,136 
Accounts payable and accrued liabilities$7,720 $10,373 
Schedule of Supplemental Consolidated Statements of Cash Flows Information
The following table summarizes T-Mobile’s supplemental cash flow information:
Three Months Ended March 31,
(in millions)20242023
Interest payments, net of amounts capitalized$896 $840 
Operating lease payments1,344 1,314 
Income tax payments7 27 
Non-cash investing and financing activities
Non-cash beneficial interest obtained in exchange for securitized receivables$661 $1,119 
Change in accounts payable and accrued liabilities for purchases of property and equipment(894)(329)
Operating lease right-of-use assets obtained in exchange for lease obligations487 439 
Financing lease right-of-use assets obtained in exchange for lease obligations263 239 
Schedule of Cash and Cash Equivalents, Including Restricted Cash
Cash and cash equivalents, including restricted cash, presented on our Condensed Consolidated Statements of Cash Flows were included on our Condensed Consolidated Balance Sheets as follows:
(in millions)March 31,
2024		December 31,
2023
Cash and cash equivalents$6,708 $5,135 
Restricted cash (included in Other current assets)154 101 
Restricted cash (included in Other assets)76 71 
Cash and cash equivalents, including restricted cash$6,938 $5,307 
Schedule of Restricted Cash
Cash and cash equivalents, including restricted cash, presented on our Condensed Consolidated Statements of Cash Flows were included on our Condensed Consolidated Balance Sheets as follows:
(in millions)March 31,
2024		December 31,
2023
Cash and cash equivalents$6,708 $5,135 
Restricted cash (included in Other current assets)154 101 
Restricted cash (included in Other assets)76 71 
Cash and cash equivalents, including restricted cash$6,938 $5,307 
v3.24.1.u1
Business Combination (Details) - Ka Ena Corporation - USD ($)
$ in Millions
Mar. 31, 2024
Mar. 13, 2024
Mar. 09, 2023
Merger And Unit Purchase Agreement      
Business Acquisition [Line Items]      
Business acquisition, outstanding (percent)     100.00%
Total consideration transferred     $ 1,350
Business acquisition, cash acquired (percent)     39.00%
Business acquisition, common shares acquired (percent)     61.00%
Merger and Unit Purchase Agreement, Amendment No. 1      
Business Acquisition [Line Items]      
Business acquisition, variable earnout payable period   24 months  
Estimated upfront payment $ 1,200    
Estimated upfront payment, net $ 950    
Upfront payment to be paid in cash (percent) 45.00%    
v3.24.1.u1
Receivables and Related Allowance for Credit Losses - Schedule of Equipment Installment Plan Receivables (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2024
USD ($)
segment
class
Dec. 31, 2023
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Portfolio segments | segment 2  
Customer classes | class 2  
EIP receivables, gross $ 6,724 $ 7,271
Unamortized imputed discount (489) (505)
EIP receivables, net of unamortized imputed discount 6,235 6,766
Allowance for credit losses (268) (268)
EIP receivables, net of allowance for credit losses and imputed discount 5,967 6,498
Equipment installment plan receivables, net of allowance for credit losses and imputed discount    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
EIP receivables, net of allowance for credit losses and imputed discount 4,059 4,456
Equipment installment plan receivables due after one year, net of allowance for credit losses and imputed discount    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
EIP receivables, net of allowance for credit losses and imputed discount $ 1,908 $ 2,042
EIP Receivables Allowance    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Weighted average effective imputed interest rate 11.10% 10.60%
v3.24.1.u1
Receivables and Related Allowance for Credit Losses - Schedule of Equipment Installment Plan Receivables by Credit Category (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]    
EIP receivables, net of unamortized imputed discount $ 6,235 $ 6,766
Prime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 1,191  
Originated in 2023 2,954  
Originated prior to 2023 735  
EIP receivables, net of unamortized imputed discount 4,880  
Subprime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 365  
Originated in 2023 776  
Originated prior to 2023 214  
EIP receivables, net of unamortized imputed discount 1,355  
Current - 30 days past due    
Financing Receivable, Credit Quality Indicator [Line Items]    
EIP receivables, net of unamortized imputed discount 6,125  
Current - 30 days past due | Prime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 1,188  
Originated in 2023 2,923  
Originated prior to 2023 721  
EIP receivables, net of unamortized imputed discount 4,832  
Current - 30 days past due | Subprime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 360  
Originated in 2023 730  
Originated prior to 2023 203  
EIP receivables, net of unamortized imputed discount 1,293  
31 - 60 days past due    
Financing Receivable, Credit Quality Indicator [Line Items]    
EIP receivables, net of unamortized imputed discount 43  
31 - 60 days past due | Prime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 3  
Originated in 2023 12  
Originated prior to 2023 4  
EIP receivables, net of unamortized imputed discount 19  
31 - 60 days past due | Subprime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 4  
Originated in 2023 16  
Originated prior to 2023 4  
EIP receivables, net of unamortized imputed discount 24  
61 - 90 days past due    
Financing Receivable, Credit Quality Indicator [Line Items]    
EIP receivables, net of unamortized imputed discount 33  
61 - 90 days past due | Prime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 0  
Originated in 2023 10  
Originated prior to 2023 4  
EIP receivables, net of unamortized imputed discount 14  
61 - 90 days past due | Subprime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 1  
Originated in 2023 15  
Originated prior to 2023 3  
EIP receivables, net of unamortized imputed discount 19  
More than 90 days past due    
Financing Receivable, Credit Quality Indicator [Line Items]    
EIP receivables, net of unamortized imputed discount 34  
More than 90 days past due | Prime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 0  
Originated in 2023 9  
Originated prior to 2023 6  
EIP receivables, net of unamortized imputed discount 15  
More than 90 days past due | Subprime    
Financing Receivable, Credit Quality Indicator [Line Items]    
Originated in 2024 0  
Originated in 2023 15  
Originated prior to 2023 4  
EIP receivables, net of unamortized imputed discount $ 19  
v3.24.1.u1
Receivables and Related Allowance for Credit Losses - Schedule of Write Offs Net of Recoveries (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2024
USD ($)
Write-offs  
Originated in 2024 $ 2
Originated in 2023 114
Originated prior to 2023 34
Total Write-offs $ 150
v3.24.1.u1
Receivables and Related Allowance for Credit Losses - Schedule of Unamortized Imputed Discount and Allowance for Credit Losses for Equipment Installment Plan Receivables (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Allowance for credit losses and imputed discount, beginning of period $ 934 $ 978
Bad debt expense 282 222
Write-offs (282) (262)
Change in imputed discount on short-term and long-term EIP receivables 31 54
Impact on the imputed discount from sales of EIP receivables (47) (54)
Allowance for credit losses and imputed discount, end of period 918 938
Accounts Receivable Allowance    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Allowance for credit losses and imputed discount, beginning of period 161 167
Bad debt expense 132 107
Write-offs (132) (122)
Allowance for credit losses and imputed discount, end of period 161 152
EIP Receivables Allowance    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Allowance for credit losses and imputed discount, beginning of period 773 811
Bad debt expense 150 115
Write-offs (150) (140)
Change in imputed discount on short-term and long-term EIP receivables 31 54
Impact on the imputed discount from sales of EIP receivables (47) (54)
Allowance for credit losses and imputed discount, end of period $ 757 $ 786
v3.24.1.u1
Sales of Certain Receivables - Schedule of Variable Interest Entities - EIP (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Variable Interest Entity [Line Items]    
Other current assets $ 2,039 $ 2,352
Other assets 4,000 4,229
EIP Securitization Arrangement    
Variable Interest Entity [Line Items]    
Revolving receivables facility, maximum borrowing capacity 1,300 1,300
Other current assets 330 348
Other assets $ 95 $ 103
v3.24.1.u1
Sales of Certain Receivables - Schedule of Variable Interest Entities (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Variable Interest Entity [Line Items]    
Other current assets $ 2,039 $ 2,352
Other current liabilities 1,933 1,296
Variable Interest Entity, Not Primary Beneficiary | Factoring Arrangement    
Variable Interest Entity [Line Items]    
Revolving receivables facility, outstanding borrowings 775 775
Other current assets 164 209
Other current liabilities $ 423 $ 373
v3.24.1.u1
Sales of Certain Receivables - Schedule of Factoring Arrangement (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]      
Other current assets $ 2,039   $ 2,352
Other long-term assets 4,000   4,229
Other current liabilities 1,933   1,296
Of which:      
Losses from sales of receivables 21 $ 38  
Factoring and EIP Securitization Arrangement | Variable Interest Entity, Primary Beneficiary      
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]      
Derecognized net service accounts receivable and EIP receivables 2,249   2,388
Other current assets 494   557
Other long-term assets 95   103
Other current liabilities 423   373
Net cash proceeds since inception 1,554   1,583
Of which:      
Change in net cash proceeds during the year-to-date period (29)   (114)
Net cash proceeds funded by reinvested collections 1,583   1,697
Service receivables and EIP receivables 586   658
Losses from sales of receivables 21 $ 38  
Factoring and EIP Securitization Arrangement | Variable Interest Entity, Primary Beneficiary | Other current assets - of which, deferred purchase price      
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]      
Carrying amounts of deferred purchase price assets 491   555
Factoring and EIP Securitization Arrangement | Variable Interest Entity, Primary Beneficiary | Other long-term assets - of which, deferred purchase price      
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]      
Carrying amounts of deferred purchase price assets $ 95   $ 103
v3.24.1.u1
Goodwill, Spectrum License Transactions and Other Intangible Assets - Schedule of Spectrum Licenses (Details) - Licensing Agreements
$ in Millions
 3 Months Ended
Mar. 31, 2024
USD ($)
Indefinite-lived Intangible Assets [Roll Forward]  
Beginning balance $ 96,707
Spectrum license acquisitions 411
Spectrum licenses transferred to held for sale (17)
Costs to clear spectrum 53
Ending balance $ 97,154
v3.24.1.u1
Goodwill, Spectrum License Transactions and Other Intangible Assets - Narrative (Details)
$ in Millions
 1 Months Ended 3 Months Ended
Oct. 15, 2023
USD ($)
Aug. 25, 2023
USD ($)
Mar. 30, 2023
USD ($)
tranche
Aug. 08, 2022
USD ($)
Jul. 01, 2020
USD ($)
Sep. 30, 2022
USD ($)
license
Jun. 30, 2022
USD ($)
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Oct. 25, 2023
USD ($)
Goodwill [Line Items]                      
Purchase of spectrum licenses                 $ 61 $ 73  
Spectrum Licenses | Channel 51 License Co, LLC And LB License Co, LLC                      
Goodwill [Line Items]                      
Total cash consideration       $ 3,500              
T-Mobile and Sprint | Spectrum Licenses | DISH                      
Goodwill [Line Items]                      
Payments for asset acquisition $ 3,600       $ 3,600            
Non-refundable extension fee payable 100                    
Termination fee payable 72                    
Terminate and retain the extension fee $ 100                   $ 100
T-Mobile and Sprint | Spectrum Licenses | DISH | Forecast                      
Goodwill [Line Items]                      
Payments for asset acquisition               $ 3,600      
T-Mobile and Sprint | Spectrum Licenses | DISH | Forecast | Selling, General and Administrative Expenses                      
Goodwill [Line Items]                      
Extension fee paid               $ 100      
Licensing Agreements | Channel 51 License Co, LLC And LB License Co, LLC                      
Goodwill [Line Items]                      
Total cash consideration   $ 3,500                  
Number of tranches licenses | tranche     2                
Transaction cost   $ 1,100                  
Closing period after regulatory approval     180 days                
Payment period after closing     40 days                
Licensing Agreements | Spectrum Licenses | Channel 51 License Co, LLC And LB License Co, LLC                      
Goodwill [Line Items]                      
Total cash consideration     $ 3,500                
Auction 108                      
Goodwill [Line Items]                      
Aggregate purchase price           $ 304          
Auction 108 | Licensing Agreements                      
Goodwill [Line Items]                      
Number of licenses | license           7,156          
Purchase of spectrum licenses           $ 239 $ 65        
v3.24.1.u1
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Derivative [Line Items]      
Accumulated other comprehensive loss $ 926   $ 964
Level 3 | Fair Value      
Derivative [Line Items]      
Carrying amounts of deferred purchase price assets 586   658
Interest Expense      
Derivative [Line Items]      
Amount amortized from AOCI into interest expense 57 $ 53  
Amount expected to be amortized from AOCI into interest expense over next 12 months 241    
Interest Rate Contract      
Derivative [Line Items]      
Accumulated other comprehensive loss $ 1,100   $ 1,100
v3.24.1.u1
Fair Value Measurements - Schedule of Carrying Values and Fair Values of Long-term Debt (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Carrying Amount | Senior Notes | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 73,421 $ 70,493
Carrying Amount | Senior Notes | Third Party | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 2,050 2,281
Carrying Amount | Senior Notes | Related Party | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 1,496 1,496
Carrying Amount | ABS Notes | Related Party | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 1,246 748
Fair Value | Senior Notes | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 67,914 65,962
Fair Value | Senior Notes | Third Party | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 1,994 2,207
Fair Value | Senior Notes | Related Party | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 1,464 1,499
Fair Value | ABS Notes | Related Party | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 1,244 $ 748
v3.24.1.u1
Debt - Schedule of Debt Balances and Activity (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Debt Balances and Activity [Roll Forward]    
Repayments of long-term debt $ (223) $ (131)
Total Debt    
Debt Balances and Activity [Roll Forward]    
Total debt, beginning balance 75,018  
Proceeds from issuances and borrowings 3,473  
Repayments (223)  
Reclassifications 0  
Other (55)  
Total debt, ending balance 78,213  
Third Party | Total Debt    
Debt Balances and Activity [Roll Forward]    
Total debt, beginning balance 73,522  
Proceeds from issuances and borrowings 3,473  
Repayments (223)  
Reclassifications 0  
Other (55)  
Total debt, ending balance 76,717  
Short-term debt | Third Party    
Debt Balances and Activity [Roll Forward]    
Short-term debt, beginning balance 3,619  
Proceeds from issuance of short-term debt 0  
Repayments of short-term debt (223)  
Reclassifications 1,983  
Other (23)  
Short-term debt, ending balance 5,356  
Long-term debt | Third Party    
Debt Balances and Activity [Roll Forward]    
Long-term debt, beginning balance 69,903  
Net proceeds from issuance of long-term debt 3,473  
Repayments of long-term debt 0  
Reclassifications (1,983)  
Other (32)  
Long-term debt, ending balance 71,361  
Long-term debt | Affiliates    
Debt Balances and Activity [Roll Forward]    
Total debt, beginning balance 1,496  
Proceeds from issuances and borrowings 0  
Repayments 0  
Reclassifications 0  
Other 0  
Total debt, ending balance $ 1,496  
v3.24.1.u1
Debt - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Feb. 14, 2024
Debt Instrument [Line Items]      
Effective interest rate 4.10% 4.00%  
Weighted-average debt outstanding during period $ 77,400,000,000 $ 73,400,000,000  
ABS Notes      
Debt Instrument [Line Items]      
Carrying amounts of deferred purchase price assets 1,700,000,000   $ 667,000,000
Net Proceeds from Issuance of Long-Term Debt 497,000,000    
Carrying value $ 1,250,000,000    
A Senior Class | ABS Notes      
Debt Instrument [Line Items]      
Principal Issuances     $ 500,000,000
Interest rate, stated percentage     5.05%
v3.24.1.u1
Debt - Schedule of Issuances and Borrowings (Details) - USD ($)
 3 Months Ended
Feb. 14, 2024
Jan. 12, 2024
Mar. 31, 2024
Senior Notes      
Debt Instrument [Line Items]      
Principal Issuances     $ 3,000,000,000
Discounts and Issuance Costs, Net     (24,000,000)
Net Proceeds from Issuance of Long-Term Debt     2,976,000,000
Secured Debt      
Debt Instrument [Line Items]      
Principal Issuances     500,000,000
Discounts and Issuance Costs, Net     (3,000,000)
Net Proceeds from Issuance of Long-Term Debt     $ 497,000,000
4.850% Senior Notes due 2029 | Senior Notes      
Debt Instrument [Line Items]      
Interest rate, stated percentage     4.85%
Principal Issuances   $ 1,000,000,000  
Discounts and Issuance Costs, Net   (6,000,000)  
Net Proceeds from Issuance of Long-Term Debt   994,000,000  
5.150% Senior Notes due 2034 | Senior Notes      
Debt Instrument [Line Items]      
Interest rate, stated percentage     5.15%
Principal Issuances   1,250,000,000  
Discounts and Issuance Costs, Net   (11,000,000)  
Net Proceeds from Issuance of Long-Term Debt   1,239,000,000  
5.500% Senior Notes due 2055 | Senior Notes      
Debt Instrument [Line Items]      
Interest rate, stated percentage     5.50%
Principal Issuances   750,000,000  
Discounts and Issuance Costs, Net   (7,000,000)  
Net Proceeds from Issuance of Long-Term Debt   $ 743,000,000  
$5.050% Class A Senior ABS Notes due 2029 | 2025      
Debt Instrument [Line Items]      
Interest rate, stated percentage     5.05%
Principal Issuances $ 500,000,000    
Discounts and Issuance Costs, Net (3,000,000)    
Net Proceeds from Issuance of Long-Term Debt $ 497,000,000    
v3.24.1.u1
Debt - Schedule of Debt Instrument Redemption and Repayments (Details)
Mar. 31, 2024
USD ($)
Debt Instrument [Line Items]  
Principal Amount $ 223,000,000
Senior Notes | 4.738% Series 2018-1 A-1 Notes due 2025  
Debt Instrument [Line Items]  
Interest rate, stated percentage 4.738%
Principal Amount $ 131,000,000
Senior Notes | 5.152% Series 2018-1 A-2 Notes due 2028  
Debt Instrument [Line Items]  
Interest rate, stated percentage 5.152%
Principal Amount $ 92,000,000
v3.24.1.u1
Debt - Schedule of Variable Interest Entities (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Equipment installment plan receivables, net $ 4,059 $ 4,456
Equipment installment plan receivables due after one year, net 1,908 2,042
Other current assets 2,039 2,352
Accounts payable and accrued liabilities 7,720 10,373
Short-term debt 5,356 3,619
Variable Interest Entity, Primary Beneficiary    
Debt Instrument [Line Items]    
Equipment installment plan receivables, net 1,123 739
Equipment installment plan receivables due after one year, net 376 168
Other current assets 154 101
Accounts payable and accrued liabilities 2 1
Short-term debt 413 198
Long-term debt $ 833 $ 550
v3.24.1.u1
Debt - Schedule of Maturities of ABS Notes (Details) - ABS Notes
$ in Millions
Mar. 31, 2024
USD ($)
Debt Instrument [Line Items]  
2024 $ 198
2025 552
2026 459
2027 41
Total debt $ 1,250
v3.24.1.u1
Tower Obligations - Narrative (Details)
$ in Millions
 12 Months Ended
Jan. 03, 2022
USD ($)
Apr. 01, 2020
USD ($)
tower_site
renewal_option
Dec. 31, 2012
USD ($)
tower_site
Mar. 31, 2024
USD ($)
tower_site
Sale Leaseback Transaction [Line Items]        
Number of renewal options | renewal_option   0    
Tower obligation payments, due next year       $ 421
Tower obligation payments, due within two and three years       774
Tower obligation payment, due within four and five years       816
Tower obligation payments due thereafter       $ 4,000
Tower Transaction        
Sale Leaseback Transaction [Line Items]        
Lessee leasing arrangements, operating leases, term of contract (years) 12 years      
Sale leaseback transaction, fixed-price purchase options     $ 2,000  
Interest rate on tower obligations 11.60%      
Tower Transaction | Tower        
Sale Leaseback Transaction [Line Items]        
Useful life (in years)       20 years
Tower Transaction | Minimum        
Sale Leaseback Transaction [Line Items]        
Lessee leasing arrangements, operating leases, term of contract (years)     23 years  
Tower Transaction | Maximum        
Sale Leaseback Transaction [Line Items]        
Lessee leasing arrangements, operating leases, term of contract (years)     37 years  
CCI Tower Lease Arrangement | Crown Castle International Corp.        
Sale Leaseback Transaction [Line Items]        
Interest rate on tower obligations 5.30%      
Crown Castle International Corp.        
Sale Leaseback Transaction [Line Items]        
Increase to deferred tax liabilities $ 1,200      
Managed sites | tower_site       900
Lease liability       $ 241
Crown Castle International Corp. | Tower Transaction        
Sale Leaseback Transaction [Line Items]        
Property subject to failed sale leaseback transaction, number of units | tower_site   6,400 6,200  
Remaining term of lease   17 years    
Fixed-price purchase option on leased or subleased sites   $ 2,300    
Fixed-price purchase option on lease or subleased sites, exercisable period   1 year    
Days prior to expiration of agreement   120 days    
v3.24.1.u1
Tower Obligations - Schedule of Impacts to Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Property and equipment, net    
Sale Leaseback Transaction [Line Items]    
Sale-leasebacks $ 2,182 $ 2,220
Tower obligations    
Sale Leaseback Transaction [Line Items]    
Sale-leasebacks 3,751 3,777
Other long-term liabilities    
Sale Leaseback Transaction [Line Items]    
Sale-leasebacks $ 554 $ 554
v3.24.1.u1
Revenue from Contracts with Customers - Schedule of Disaggregation of Revenue (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2024
USD ($)
customer_category
Mar. 31, 2023
USD ($)
Disaggregation of Revenue [Line Items]    
Number of customer categories | customer_category 3  
Revenues $ 19,594 $ 19,632
Postpaid phone revenues    
Disaggregation of Revenue [Line Items]    
Revenues 11,145 10,652
Postpaid other revenues    
Disaggregation of Revenue [Line Items]    
Revenues 1,486 1,210
Total postpaid service revenues    
Disaggregation of Revenue [Line Items]    
Revenues $ 12,631 $ 11,862
v3.24.1.u1
Revenue from Contracts with Customers - Schedule of Contract Liability and Receivable Balances (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]      
Contract Assets $ 548   $ 607
Contract Liabilities 836   812
Change in contract assets included in other current assets (59)    
Change in contracts liabilities included in deferred revenue 24    
Current portion of contract assets 449   $ 495
Amounts included in the beginning of year contract liability balance $ 698 $ 667  
v3.24.1.u1
Revenue from Contracts with Customers - Remaining Performance Obligations, Branded Postpaid Contracts (Details)
$ in Billions
 3 Months Ended
Mar. 31, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation 1.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 2.8
Minimum  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining contract duration (in years) 1 year
Maximum  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining contract duration (in years) 8 years
Total postpaid service revenues  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1.3
Remaining contract duration (in years) 24 months
v3.24.1.u1
Revenue from Contracts with Customers - Contract Costs (Details) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Capitalized Contract Cost [Abstract]      
Deferred incremental costs to obtain contracts $ 2,100,000,000   $ 2,100,000,000
Average amortization period, deferred contract costs (in months) 24 months    
Amortization of deferred costs $ 489,000,000 $ 422,000,000  
Impairment losses recognized on deferred contract cost assets $ 0 $ 0  
v3.24.1.u1
Revenue from Contracts with Customers - Remaining Performance Obligations (Details)
Mar. 31, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, expected timing of satisfaction, period 9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, expected timing of satisfaction, period
v3.24.1.u1
Stockholder Return Program (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 3 Months Ended
Mar. 15, 2024
Jan. 24, 2024
Apr. 19, 2024
Mar. 31, 2024
Mar. 31, 2023
Sep. 06, 2023
Equity, Class of Treasury Stock [Line Items]            
Common stock, dividends declared (in USD per share)       $ 1.30    
Purchase price       $ 3,604 $ 4,810  
2023-2024 Stockholder Return Program            
Equity, Class of Treasury Stock [Line Items]            
Stock repurchase program, authorized amount           $ 19,000
Cash dividends       769    
Dividends payable       $ 756    
Repurchases of common stock (in shares)       21,933,790    
Average price paid per share (in USD per share)       $ 162.69    
Purchase price       $ 3,600    
Stock repurchase authorization amount       11,700    
2023-2024 Stockholder Return Program | Subsequent Event            
Equity, Class of Treasury Stock [Line Items]            
Repurchases of common stock (in shares)     5,427,946      
Average price paid per share (in USD per share)     $ 160.97      
Purchase price     $ 874      
Stock repurchase authorization amount     $ 10,800      
2023-2024 Stockholder Return Program | DT            
Equity, Class of Treasury Stock [Line Items]            
Cash dividends       388    
Dividends payable       $ 386    
2023-2024 Stockholder Return Program | Director            
Equity, Class of Treasury Stock [Line Items]            
Common stock, dividends declared (in USD per share) $ 0.65 $ 0.65        
v3.24.1.u1
Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Earnings Per Share [Abstract]    
Net income $ 2,374 $ 1,940
Weighted-average shares outstanding - basic (in shares) 1,185,298,497 1,219,608,362
Effect of dilutive securities:    
Outstanding stock options, unvested stock awards (in shares) 3,793,522 4,996,336
Weighted-average shares outstanding - diluted (in shares) 1,189,092,019 1,224,604,698
Earnings per share - basic (in USD per share) $ 2.00 $ 1.59
Earnings per share - diluted (in USD per share) $ 2.00 $ 1.58
Outstanding stock options and unvested stock awards    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Potentially dilutive securities (in shares) 6 98,175
SoftBank contingent consideration    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Potentially dilutive securities (in shares) 0 48,751,557
v3.24.1.u1
Earnings Per Share - Narrative (Details) - Mandatory Convertible Preferred Stock Series A - $ / shares
Mar. 31, 2024
Mar. 31, 2023
Class of Stock [Line Items]    
Preferred shares authorized (in shares) 100,000,000  
Preferred stock, par value (in USD per share) $ 0.00001  
Preferred shares outstanding (in shares) 0 0
v3.24.1.u1
Commitments and Contingencies (Details)
$ in Millions
 3 Months Ended 20 Months Ended
Jul. 31, 2023
USD ($)
Jun. 29, 2023
USD ($)
Jan. 05, 2023
customer_account
Mar. 31, 2023
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Loss Contingencies [Line Items]                  
Proposed litigation settlement $ 350 $ 350              
Aggregate incremental expense           $ 150 $ 150    
Paid claims administration         $ 35        
Number of customer accounts impacted | customer_account     37,000,000            
Selling, General and Administrative Expenses                  
Loss Contingencies [Line Items]                  
Aggregate incremental expense               $ 400 $ 400
Reimbursements from insurance carriers for costs       $ 50          
v3.24.1.u1
Additional Financial Information - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Accounts Payable and Accrued Liabilities [Line Items]    
Accounts payable $ 3,345 $ 5,573
Payroll and related benefits 682 1,142
Property and other taxes, including payroll 1,694 1,704
Accrued interest 887 818
Other accrued liabilities 1,112 1,136
Accounts payable and accrued liabilities 7,720 10,373
Accounts Payable and Accrued Liabilities    
Accounts Payable and Accrued Liabilities [Line Items]    
Outstanding checks $ 702 $ 740
v3.24.1.u1
Additional Financial Information - Schedule of Supplemental Consolidated Statements of Cash Flows Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Supplemental Financial Statement Elements [Abstract]    
Interest payments, net of amounts capitalized $ 896 $ 840
Operating lease payments 1,344 1,314
Income tax payments 7 27
Non-cash investing and financing activities    
Non-cash beneficial interest obtained in exchange for securitized receivables 661 1,119
Change in accounts payable and accrued liabilities for purchases of property and equipment 894 (329)
Operating lease right-of-use assets obtained in exchange for lease obligations 487 439
Financing lease right-of-use assets obtained in exchange for lease obligations $ 263 $ 239
v3.24.1.u1
Additional Financial Information - Schedule of Cash and Cash Equivalents, Including Restricted Cash (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Supplemental Financial Statement Elements [Abstract]    
Cash and cash equivalents $ 6,708 $ 5,135
Restricted cash (included in Other current assets) 154 101
Restricted cash (included in Other assets) 76 71
Cash and cash equivalents, including restricted cash and cash held for sale $ 6,938 $ 5,307
v3.24.1.u1
Subsequent Events (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended 24 Months Ended
Apr. 19, 2024
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2025
Dec. 31, 2028
Subsequent Event [Line Items]          
Purchase price   $ 3,604 $ 4,810    
Lumos | Forecast          
Subsequent Event [Line Items]          
Expected investment to acquire interest in joint venture       $ 950 $ 500
Ownership interest in joint venture (percent)       50.00%  
2023-2024 Stockholder Return Program          
Subsequent Event [Line Items]          
Repurchases of common stock (in shares)   21,933,790      
Average price paid per share (in USD per share)   $ 162.69      
Purchase price   $ 3,600      
Subsequent Event | 2023-2024 Stockholder Return Program          
Subsequent Event [Line Items]          
Repurchases of common stock (in shares) 5,427,946        
Average price paid per share (in USD per share) $ 160.97        
Purchase price $ 874