AT&T said its gross capital investment for 2022 will be in the $24 billion range with capital expenditures in the $20 billion range.
Gross capital investment includes capital expenditures and cash payments for vendor financing and excludes FirstNet reimbursements. In 4Q21, gross capital investment included $0.6 billion in vendor financing payments and excluded $0.5 billion in FirstNet reimbursements.
AT&T’s capital expenditures were $3.8 billion and gross capital investment was $4.9 billion in the fourth quarter of 2021.
AT&T’s capital expenditures were $16.5 billion and gross capital investment was $21.6 billion in 2021.
In 2021, gross capital investment included $4.6 billion in vendor financing payments and excluded $0.5 billion in FirstNet reimbursements. In 2022, vendor financing payments are expected to be in the $4 billion range.
AT&T, at a virtual analyst event in the first half of March, expects to provide expectations for financial and operational performance of the Communications Company following the close of the WarnerMedia transaction.
AT&T has added 884,000 new phone subscribers who pay a monthly bill in the fourth quarter. AT&T has prioritized its fiber internet business as an area for growth and it added 271,000 new customers during the quarter.
Rival carrier Verizon added 558,000 subscriber additions in its latest quarter. AT&T faces fierce competition from rivals Verizon and T-Mobile US.
Verizon earlier said capital spending, excluding C-Band, will be in the range of $16.5 billion to $17.5 billion, a decrease from $18.2 billion in 2021, as the company has started its progress towards lower capital intensity.
Verizon’s additional expenditures for the deployment of C-Band 5G network are expected to be in the range of $5 billion to $6 billion.
