10-Q 1 tmus-20220930.htm TMUS FORM 10-Q tmus-20220930
0001283699false2022Q312-31P3MP1YP5YP5YP3Y00012836992022-01-012022-09-3000012836992022-10-20xbrli:shares00012836992022-09-30iso4217:USD00012836992021-12-31iso4217:USDxbrli:shares0001283699tmus:BrandedPostpaidRevenueMember2022-07-012022-09-300001283699tmus:BrandedPostpaidRevenueMember2021-07-012021-09-300001283699tmus:BrandedPostpaidRevenueMember2022-01-012022-09-300001283699tmus:BrandedPostpaidRevenueMember2021-01-012021-09-300001283699tmus:BrandedPrepaidRevenueMember2022-07-012022-09-300001283699tmus:BrandedPrepaidRevenueMember2021-07-012021-09-300001283699tmus:BrandedPrepaidRevenueMember2022-01-012022-09-300001283699tmus:BrandedPrepaidRevenueMember2021-01-012021-09-300001283699tmus:WholesaleAndOtherServiceRevenueMember2022-07-012022-09-300001283699tmus:WholesaleAndOtherServiceRevenueMember2021-07-012021-09-300001283699tmus:WholesaleAndOtherServiceRevenueMember2022-01-012022-09-300001283699tmus:WholesaleAndOtherServiceRevenueMember2021-01-012021-09-300001283699us-gaap:ServiceMember2022-07-012022-09-300001283699us-gaap:ServiceMember2021-07-012021-09-300001283699us-gaap:ServiceMember2022-01-012022-09-300001283699us-gaap:ServiceMember2021-01-012021-09-300001283699tmus:ProductEquipmentMember2022-07-012022-09-300001283699tmus:ProductEquipmentMember2021-07-012021-09-300001283699tmus:ProductEquipmentMember2022-01-012022-09-300001283699tmus:ProductEquipmentMember2021-01-012021-09-300001283699us-gaap:ProductAndServiceOtherMember2022-07-012022-09-300001283699us-gaap:ProductAndServiceOtherMember2021-07-012021-09-300001283699us-gaap:ProductAndServiceOtherMember2022-01-012022-09-300001283699us-gaap:ProductAndServiceOtherMember2021-01-012021-09-3000012836992022-07-012022-09-3000012836992021-07-012021-09-3000012836992021-01-012021-09-3000012836992022-06-3000012836992021-06-3000012836992020-12-3100012836992021-09-300001283699us-gaap:CommonStockMember2022-06-300001283699us-gaap:TreasuryStockCommonMember2022-06-300001283699us-gaap:AdditionalPaidInCapitalMember2022-06-300001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001283699us-gaap:RetainedEarningsMember2022-06-300001283699us-gaap:RetainedEarningsMember2022-07-012022-09-300001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300001283699us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300001283699us-gaap:CommonStockMember2022-07-012022-09-300001283699us-gaap:TreasuryStockCommonMember2022-07-012022-09-300001283699us-gaap:CommonStockMember2022-09-300001283699us-gaap:TreasuryStockCommonMember2022-09-300001283699us-gaap:AdditionalPaidInCapitalMember2022-09-300001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300001283699us-gaap:RetainedEarningsMember2022-09-300001283699us-gaap:CommonStockMember2021-12-310001283699us-gaap:TreasuryStockCommonMember2021-12-310001283699us-gaap:AdditionalPaidInCapitalMember2021-12-310001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001283699us-gaap:RetainedEarningsMember2021-12-310001283699us-gaap:RetainedEarningsMember2022-01-012022-09-300001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300001283699us-gaap:AdditionalPaidInCapitalMember2022-01-012022-09-300001283699us-gaap:CommonStockMember2022-01-012022-09-300001283699us-gaap:TreasuryStockCommonMember2022-01-012022-09-300001283699us-gaap:CommonStockMember2021-06-300001283699us-gaap:TreasuryStockCommonMember2021-06-300001283699us-gaap:AdditionalPaidInCapitalMember2021-06-300001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001283699us-gaap:RetainedEarningsMember2021-06-300001283699us-gaap:RetainedEarningsMember2021-07-012021-09-300001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001283699us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300001283699us-gaap:CommonStockMember2021-07-012021-09-300001283699us-gaap:TreasuryStockCommonMember2021-07-012021-09-300001283699us-gaap:CommonStockMember2021-09-300001283699us-gaap:TreasuryStockCommonMember2021-09-300001283699us-gaap:AdditionalPaidInCapitalMember2021-09-300001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300001283699us-gaap:RetainedEarningsMember2021-09-300001283699us-gaap:CommonStockMember2020-12-310001283699us-gaap:TreasuryStockCommonMember2020-12-310001283699us-gaap:AdditionalPaidInCapitalMember2020-12-310001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001283699us-gaap:RetainedEarningsMember2020-12-310001283699us-gaap:RetainedEarningsMember2021-01-012021-09-300001283699us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001283699us-gaap:AdditionalPaidInCapitalMember2021-01-012021-09-300001283699us-gaap:CommonStockMember2021-01-012021-09-300001283699us-gaap:TreasuryStockCommonMember2021-01-012021-09-300001283699tmus:A2022StockRepurchaseProgramMember2022-09-08tmus:segmenttmus:class0001283699tmus:EquipmentInstallmentPlanReceivableMember2022-01-012022-09-30xbrli:pure0001283699tmus:EquipmentInstallmentPlanReceivableMember2021-01-012021-12-310001283699tmus:EquipmentInstallmentPlanReceivablesNetMember2022-09-300001283699tmus:EquipmentInstallmentPlanReceivablesNetMember2021-12-310001283699tmus:EquipmentInstallmentPlanReceivablesDueAfterOneYearNetMember2022-09-300001283699tmus:EquipmentInstallmentPlanReceivablesDueAfterOneYearNetMember2021-12-310001283699us-gaap:PrimeMembertmus:FinancingReceivables1to30DaysPastDueMember2022-09-300001283699tmus:FinancingReceivables1to30DaysPastDueMemberus-gaap:SubprimeMember2022-09-300001283699tmus:FinancingReceivables1to30DaysPastDueMember2022-09-300001283699us-gaap:PrimeMembertmus:FinancingReceivables31to60DaysPastDueMember2022-09-300001283699tmus:FinancingReceivables31to60DaysPastDueMemberus-gaap:SubprimeMember2022-09-300001283699tmus:FinancingReceivables31to60DaysPastDueMember2022-09-300001283699us-gaap:PrimeMembertmus:FinancingReceivables61to90DaysPastDueMember2022-09-300001283699us-gaap:SubprimeMembertmus:FinancingReceivables61to90DaysPastDueMember2022-09-300001283699tmus:FinancingReceivables61to90DaysPastDueMember2022-09-300001283699us-gaap:PrimeMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300001283699us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:SubprimeMember2022-09-300001283699us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300001283699us-gaap:PrimeMember2022-09-300001283699us-gaap:SubprimeMember2022-09-300001283699tmus:AccountsReceivablesGrossMember2021-12-310001283699tmus:EquipmentInstallmentPlanReceivableMember2021-12-310001283699tmus:AccountsReceivablesGrossMember2020-12-310001283699tmus:EquipmentInstallmentPlanReceivableMember2020-12-310001283699tmus:AccountsReceivablesGrossMember2022-01-012022-09-300001283699tmus:AccountsReceivablesGrossMember2021-01-012021-09-300001283699tmus:EquipmentInstallmentPlanReceivableMember2021-01-012021-09-300001283699tmus:AccountsReceivablesGrossMember2022-09-300001283699tmus:EquipmentInstallmentPlanReceivableMember2022-09-300001283699tmus:AccountsReceivablesGrossMember2021-09-300001283699tmus:EquipmentInstallmentPlanReceivableMember2021-09-300001283699tmus:EIPSecuritizationArrangementMember2021-12-310001283699tmus:EIPSecuritizationArrangementMember2022-09-300001283699tmus:FactoringArrangementMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2022-09-300001283699tmus:FactoringArrangementMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-12-310001283699tmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-09-300001283699tmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001283699us-gaap:OtherCurrentAssetsMembertmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-09-300001283699us-gaap:OtherCurrentAssetsMembertmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001283699tmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:OtherNoncurrentAssetsMember2022-09-300001283699tmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:OtherNoncurrentAssetsMember2021-12-310001283699tmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-01-012022-09-300001283699tmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-01-012021-12-310001283699tmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-07-012022-09-300001283699tmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-07-012021-09-300001283699tmus:FactoringandEIPSecuritizationArrangementMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-01-012021-09-300001283699us-gaap:LicensingAgreementsMember2021-12-310001283699us-gaap:LicensingAgreementsMember2022-01-012022-09-300001283699us-gaap:LicensingAgreementsMember2022-09-300001283699tmus:Auction110Memberus-gaap:LicensingAgreementsMember2022-01-012022-01-31tmus:license0001283699tmus:Auction110Memberus-gaap:LicensingAgreementsMember2021-09-012021-09-300001283699tmus:Auction110Memberus-gaap:LicensingAgreementsMember2022-02-012022-02-280001283699us-gaap:LicensingAgreementsMembertmus:Auction108Member2022-09-012022-09-300001283699us-gaap:LicensingAgreementsMembertmus:Auction108Member2022-06-012022-06-300001283699tmus:TMobileandSprintCorporationMembertmus:SpectrumLicensesMembertmus:DISHNetworkCorporationMember2020-07-012020-07-010001283699tmus:TMobileandSprintCorporationMembertmus:SpectrumLicensesMembertmus:DISHNetworkCorporationMember2020-07-010001283699tmus:Channel51LicenseCoLLCAndLBLicenseCoLLCMembertmus:SpectrumLicensesMember2022-08-082022-08-080001283699tmus:Channel51LicenseCoLLCAndLBLicenseCoLLCMembertmus:SpectrumLicensesMembersrt:MaximumMember2022-08-082022-08-080001283699us-gaap:InterestRateContractMember2022-09-300001283699us-gaap:InterestRateContractMember2021-12-310001283699us-gaap:InterestExpenseMember2022-07-012022-09-300001283699us-gaap:InterestExpenseMember2021-07-012021-09-300001283699us-gaap:InterestExpenseMember2022-01-012022-09-300001283699us-gaap:InterestExpenseMember2021-01-012021-09-300001283699us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2022-09-300001283699us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2021-12-310001283699us-gaap:SeniorNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300001283699us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300001283699us-gaap:SeniorNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001283699us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001283699us-gaap:SeniorNotesMembersrt:AffiliatedEntityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300001283699us-gaap:SeniorNotesMembersrt:AffiliatedEntityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300001283699us-gaap:SeniorNotesMembersrt:AffiliatedEntityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001283699us-gaap:SeniorNotesMembersrt:AffiliatedEntityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001283699us-gaap:SeniorNotesMembertmus:ThirdPartyMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300001283699us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembertmus:ThirdPartyMember2022-09-300001283699us-gaap:SeniorNotesMembertmus:ThirdPartyMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001283699us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembertmus:ThirdPartyMember2021-12-310001283699tmus:VendorFinancingArrangementMember2022-09-300001283699tmus:VendorFinancingArrangementMember2021-12-310001283699us-gaap:ShortTermDebtMembertmus:ThirdPartyMember2021-12-310001283699us-gaap:ShortTermDebtMembertmus:ThirdPartyMember2022-01-012022-09-300001283699us-gaap:ShortTermDebtMembertmus:ThirdPartyMember2022-09-300001283699us-gaap:LongTermDebtMembertmus:ThirdPartyMember2021-12-310001283699us-gaap:LongTermDebtMembertmus:ThirdPartyMember2022-01-012022-09-300001283699us-gaap:LongTermDebtMembertmus:ThirdPartyMember2022-09-300001283699tmus:TotalDebtMembertmus:ThirdPartyMember2021-12-310001283699tmus:TotalDebtMembertmus:ThirdPartyMember2022-01-012022-09-300001283699tmus:TotalDebtMembertmus:ThirdPartyMember2022-09-300001283699srt:AffiliatedEntityMemberus-gaap:ShortTermDebtMember2021-12-310001283699srt:AffiliatedEntityMemberus-gaap:ShortTermDebtMember2022-01-012022-09-300001283699srt:AffiliatedEntityMemberus-gaap:ShortTermDebtMember2022-09-300001283699us-gaap:LongTermDebtMembersrt:AffiliatedEntityMember2021-12-310001283699us-gaap:LongTermDebtMembersrt:AffiliatedEntityMember2022-01-012022-09-300001283699us-gaap:LongTermDebtMembersrt:AffiliatedEntityMember2022-09-300001283699tmus:TotalDebtMember2021-12-310001283699tmus:TotalDebtMember2022-01-012022-09-300001283699tmus:TotalDebtMember2022-09-300001283699us-gaap:SeniorNotesMembertmus:A5200SeniorNotesDue2033Member2022-09-150001283699us-gaap:SeniorNotesMembertmus:A5200SeniorNotesDue2033Member2022-09-152022-09-150001283699us-gaap:SeniorNotesMembertmus:A5650SeniorNotesDue2053Member2022-09-150001283699us-gaap:SeniorNotesMembertmus:A5650SeniorNotesDue2053Member2022-09-152022-09-150001283699us-gaap:SeniorNotesMembertmus:A5800SeniorNotesDue2062Member2022-09-150001283699us-gaap:SeniorNotesMembertmus:A5800SeniorNotesDue2062Member2022-09-152022-09-150001283699us-gaap:SeniorNotesMember2022-09-300001283699us-gaap:SeniorNotesMember2022-01-012022-09-300001283699tmus:A4000SeniorNotesDue2022Member2022-09-300001283699us-gaap:SeniorNotesMembertmus:A4000SeniorNotesDue2022Member2022-09-300001283699us-gaap:SeniorNotesMembertmus:A4000SeniorNotesDue2022Member2022-01-012022-09-300001283699tmus:A4000SeniorNotesToAffiliatesDue2022Membersrt:AffiliatedEntityMember2022-09-300001283699tmus:A4000SeniorNotesToAffiliatesDue2022Memberus-gaap:SeniorNotesMembersrt:AffiliatedEntityMember2022-09-300001283699tmus:A4000SeniorNotesToAffiliatesDue2022Memberus-gaap:SeniorNotesMember2022-01-012022-09-300001283699tmus:A5375SeniorNotesToAffiliatesDue2022Membersrt:AffiliatedEntityMember2022-09-300001283699us-gaap:SeniorNotesMembertmus:A5375SeniorNotesToAffiliatesDue2022Membersrt:AffiliatedEntityMember2022-09-300001283699us-gaap:SeniorNotesMembersrt:AffiliatedEntityMember2022-09-300001283699us-gaap:SeniorNotesMembertmus:SeniorSecuredSeries20181A1NotesDue20254738Member2022-09-300001283699tmus:DebtOtherMemberMember2022-09-300001283699us-gaap:SubsequentEventMembertmus:ABSNotesMember2022-10-120001283699us-gaap:SubsequentEventMembertmus:ABSNotesMember2022-10-122022-10-120001283699us-gaap:SubsequentEventMembertmus:ABSNotesMembertmus:ASeniorClassMember2022-10-120001283699us-gaap:LineOfCreditMemberus-gaap:SubsequentEventMemberus-gaap:RevolvingCreditFacilityMember2022-10-170001283699us-gaap:LineOfCreditMemberus-gaap:SubsequentEventMemberus-gaap:LetterOfCreditMember2022-10-170001283699us-gaap:LineOfCreditMemberus-gaap:SubsequentEventMemberus-gaap:BridgeLoanMember2022-10-170001283699tmus:TowerTransactionMembertmus:CrownCastleInternationalCorp.Member2012-01-012012-12-31tmus:tower_site0001283699tmus:TowerTransactionMembersrt:MinimumMember2012-12-310001283699tmus:TowerTransactionMembersrt:MaximumMember2012-12-310001283699tmus:TowerTransactionMember2012-01-012012-12-310001283699tmus:TowerTransactionMembertmus:CrownCastleInternationalCorp.Member2020-01-012020-04-3000012836992020-01-012020-04-30tmus:renewalOption0001283699tmus:TowerTransactionMembertmus:CrownCastleInternationalCorp.Member2020-04-300001283699tmus:TowerTransactionMembertmus:CrownCastleInternationalCorp.Member2020-04-010001283699tmus:SprintCorporationMember2020-04-012020-04-010001283699tmus:TowerMembertmus:TowerTransactionMember2022-01-012022-09-300001283699tmus:TowerTransactionMember2022-01-030001283699tmus:CrownCastleInternationalCorp.Member2022-01-032022-01-030001283699tmus:TowerTransactionMember2022-01-032022-01-030001283699tmus:CrownCastleInternationalCorp.Membertmus:CCITowerLeaseArrangementMember2022-01-032022-01-030001283699us-gaap:PropertyPlantAndEquipmentMember2022-09-300001283699us-gaap:PropertyPlantAndEquipmentMember2021-12-310001283699tmus:FailedSaleLeasebackTransactionTowerObligationsMember2022-09-300001283699tmus:FailedSaleLeasebackTransactionTowerObligationsMember2021-12-310001283699us-gaap:OtherNoncurrentLiabilitiesMember2022-09-300001283699us-gaap:OtherNoncurrentLiabilitiesMember2021-12-310001283699tmus:BrandedPostpaidRevenuePhoneMember2022-07-012022-09-300001283699tmus:BrandedPostpaidRevenuePhoneMember2021-07-012021-09-300001283699tmus:BrandedPostpaidRevenuePhoneMember2022-01-012022-09-300001283699tmus:BrandedPostpaidRevenuePhoneMember2021-01-012021-09-300001283699tmus:BrandedPostpaidRevenueOtherMember2022-07-012022-09-300001283699tmus:BrandedPostpaidRevenueOtherMember2021-07-012021-09-300001283699tmus:BrandedPostpaidRevenueOtherMember2022-01-012022-09-300001283699tmus:BrandedPostpaidRevenueOtherMember2021-01-012021-09-300001283699tmus:LeaseOfMobileCommunicationDevicesandAccessoriesMember2022-07-012022-09-300001283699tmus:LeaseOfMobileCommunicationDevicesandAccessoriesMember2021-07-012021-09-300001283699tmus:LeaseOfMobileCommunicationDevicesandAccessoriesMember2022-01-012022-09-300001283699tmus:LeaseOfMobileCommunicationDevicesandAccessoriesMember2021-01-012021-09-300001283699tmus:WirelineServiceRevenueMembertmus:SprintCorporationMember2022-07-012022-09-300001283699tmus:WirelineServiceRevenueMembertmus:SprintCorporationMember2021-07-012021-09-300001283699tmus:WirelineServiceRevenueMembertmus:SprintCorporationMember2022-01-012022-09-300001283699tmus:WirelineServiceRevenueMembertmus:SprintCorporationMember2021-01-012021-09-300001283699tmus:BrandedPostpaidRevenueMember2022-09-3000012836992022-10-012022-09-3000012836992023-01-012022-09-3000012836992024-01-012022-09-300001283699srt:MinimumMember2022-01-012022-09-300001283699srt:MaximumMember2022-01-012022-09-300001283699tmus:A2022StockRepurchaseProgramMember2022-07-012022-09-300001283699tmus:A2022StockRepurchaseProgramMember2022-01-012022-09-300001283699tmus:A2022StockRepurchaseProgramMember2022-09-300001283699us-gaap:SubsequentEventMembertmus:A2022StockRepurchaseProgramMember2022-10-012022-10-200001283699us-gaap:SubsequentEventMembertmus:A2022StockRepurchaseProgramMember2022-10-200001283699tmus:WirelineBusinessMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2022-09-062022-09-06tmus:whollyOwnedSubsidiary0001283699tmus:WirelineBusinessMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2022-09-060001283699tmus:WirelineBusinessMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2022-09-300001283699tmus:WirelineBusinessMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2022-01-012022-09-300001283699us-gaap:OtherCurrentLiabilitiesMembertmus:WirelineBusinessMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2022-09-300001283699tmus:WirelineBusinessMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberus-gaap:OtherNoncurrentLiabilitiesMember2022-09-300001283699tmus:WirelineBusinessMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2022-01-012022-09-300001283699tmus:SprintCorporationMember2022-01-012022-09-300001283699tmus:SprintCorporationMember2021-01-012021-09-300001283699tmus:SprintCorporationMember2021-07-012021-09-300001283699us-gaap:StockCompensationPlanMember2022-07-012022-09-300001283699us-gaap:StockCompensationPlanMember2021-07-012021-09-300001283699us-gaap:StockCompensationPlanMember2022-01-012022-09-300001283699us-gaap:StockCompensationPlanMember2021-01-012021-09-300001283699tmus:ContingentConsiderationForMergerMember2022-07-012022-09-300001283699tmus:ContingentConsiderationForMergerMember2021-07-012021-09-300001283699tmus:ContingentConsiderationForMergerMember2022-01-012022-09-300001283699tmus:ContingentConsiderationForMergerMember2021-01-012021-09-300001283699us-gaap:SeriesAPreferredStockMember2022-09-300001283699us-gaap:SeriesAPreferredStockMember2021-09-300001283699srt:MinimumMember2022-09-300001283699srt:MaximumMember2022-09-300001283699tmus:CrownAgreementMember2022-01-030001283699tmus:CrownAgreementMember2022-01-032022-01-0300012836992022-07-222022-07-220001283699us-gaap:SellingGeneralAndAdministrativeExpensesMember2022-04-012022-06-300001283699us-gaap:SellingGeneralAndAdministrativeExpensesMember2022-01-012022-09-300001283699us-gaap:SellingGeneralAndAdministrativeExpensesMember2022-07-012022-09-3000012836992022-03-012022-03-310001283699us-gaap:ContractTerminationMember2022-07-012022-09-300001283699us-gaap:ContractTerminationMember2022-01-012022-09-300001283699us-gaap:ContractTerminationMember2022-09-300001283699us-gaap:EmployeeSeveranceMember2022-07-012022-09-300001283699us-gaap:EmployeeSeveranceMember2022-01-012022-09-300001283699us-gaap:EmployeeSeveranceMember2022-09-300001283699tmus:NetworkingDecommissioningMember2022-07-012022-09-300001283699tmus:NetworkingDecommissioningMember2022-01-012022-09-300001283699tmus:NetworkingDecommissioningMember2022-09-300001283699us-gaap:ContractTerminationMember2021-12-310001283699us-gaap:EmployeeSeveranceMember2021-12-310001283699tmus:NetworkingDecommissioningMember2021-12-310001283699us-gaap:AccountsPayableAndAccruedLiabilitiesMember2022-09-300001283699us-gaap:AccountsPayableAndAccruedLiabilitiesMember2021-12-31

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
         QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2022
or
         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from    to
Commission File Number: 1-33409
tmus-20220930_g1.jpg
T-MOBILE US, INC.
(Exact name of registrant as specified in its charter)
Delaware20-0836269
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

12920 SE 38th Street
Bellevue, Washington
(Address of principal executive offices)
98006-1350
(Zip Code)
(425) 378-4000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.00001 per shareTMUSThe NASDAQ Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  No 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer Accelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).      Yes  No ☒
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
ClassShares Outstanding as of October 20, 2022
Common Stock, par value $0.00001 per share1,244,154,134 



1


T-Mobile US, Inc.
Form 10-Q
For the Quarter Ended September 30, 2022



2

PART I. FINANCIAL INFORMATION
Item 1. Financial Statements

T-Mobile US, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)

(in millions, except share and per share amounts)September 30,
2022
December 31,
2021
Assets
Current assets
Cash and cash equivalents$6,888 $6,631 
Accounts receivable, net of allowance for credit losses of $161 and $146
4,324 4,194 
Equipment installment plan receivables, net of allowance for credit losses and imputed discount of $624 and $494
5,048 4,748 
Inventory2,247 2,567 
Prepaid expenses711 746 
Other current assets2,209 2,005 
Total current assets21,427 20,891 
Property and equipment, net41,034 39,803 
Operating lease right-of-use assets29,264 26,959 
Financing lease right-of-use assets3,619 3,322 
Goodwill12,234 12,188 
Spectrum licenses95,767 92,606 
Other intangible assets, net3,763 4,733 
Equipment installment plan receivables due after one year, net of allowance for credit losses and imputed discount of $125 and $136
2,514 2,829 
Other assets3,877 3,232 
Total assets$213,499 $206,563 
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable and accrued liabilities$11,971 $11,405 
Short-term debt7,398 3,378 
Short-term debt to affiliates 2,245 
Deferred revenue777 856 
Short-term operating lease liabilities3,367 3,425 
Short-term financing lease liabilities1,239 1,120 
Other current liabilities1,610 1,070 
Total current liabilities26,362 23,499 
Long-term debt64,834 67,076 
Long-term debt to affiliates1,495 1,494 
Tower obligations3,970 2,806 
Deferred tax liabilities10,397 10,216 
Operating lease liabilities30,271 25,818 
Financing lease liabilities1,590 1,455 
Other long-term liabilities4,430 5,097 
Total long-term liabilities116,987 113,962 
Commitments and contingencies (Note 14)
Stockholders' equity
Common Stock, par value $0.00001 per share, 2,000,000,000 shares authorized; 1,256,555,323 and 1,250,751,148 shares issued, 1,250,104,426 and 1,249,213,681 shares outstanding
  
Additional paid-in capital73,797 73,292 
Treasury stock, at cost, 6,450,896 and 1,537,468 shares issued
(685)(13)
Accumulated other comprehensive loss(1,263)(1,365)
Accumulated deficit(1,699)(2,812)
Total stockholders' equity70,150 69,102 
Total liabilities and stockholders' equity$213,499 $206,563 
The accompanying notes are an integral part of these condensed consolidated financial statements.
3

T-Mobile US, Inc.
Condensed Consolidated Statements of Comprehensive Income
(Unaudited)

Three Months Ended September 30,Nine Months Ended September 30,
(in millions, except share and per share amounts)2022202120222021
Revenues
Postpaid revenues$11,548 $10,804 $34,194 $31,599 
Prepaid revenues2,484 2,481 7,408 7,259 
Wholesale and other service revenues1,329 1,437 4,203 4,548 
Total service revenues15,361 14,722 45,805 43,406 
Equipment revenues3,855 4,660 12,679 15,221 
Other revenues261 242 814 706 
Total revenues19,477 19,624 59,298 59,333 
Operating expenses
Cost of services, exclusive of depreciation and amortization shown separately below3,712 3,538 11,499 10,413 
Cost of equipment sales, exclusive of depreciation and amortization shown separately below4,982 5,145 16,036 15,740 
Selling, general and administrative5,118 5,212 16,030 14,840 
Impairment expense  477  
Loss on disposal group held for sale1,071  1,071  
Depreciation and amortization3,313 4,145 10,389 12,511 
Total operating expenses18,196 18,040 55,502 53,504 
Operating income1,281 1,584 3,796 5,829 
Other expense, net
Interest expense, net(827)(836)(2,542)(2,521)
Other expense, net(3)(60)(35)(186)
Total other expense, net(830)(896)(2,577)(2,707)
Income before income taxes451 688 1,219 3,122 
Income tax benefit (expense)57 3 (106)(520)
Net income$508 $691 $1,113 $2,602 
Net income$508 $691 $1,113 $2,602 
Other comprehensive income, net of tax
Reclassification of loss from cash flow hedges, net of tax effect of $13, $12, $39, and $36
39 35 113 103 
Unrealized loss on foreign currency translation adjustment, net of tax effect of $0, $0, $(1), and $0
(7)(3)(11) 
Other comprehensive income32 32 102 103 
Total comprehensive income$540 $723 $1,215 $2,705 
Earnings per share
Basic$0.40 $0.55 $0.89 $2.09 
Diluted$0.40 $0.55 $0.88 $2.07 
Weighted-average shares outstanding
Basic1,253,873,429 1,248,189,719 1,252,783,140 1,246,441,464 
Diluted1,259,210,271 1,253,661,245 1,258,061,478 1,254,391,787 
The accompanying notes are an integral part of these condensed consolidated financial statements.
4

T-Mobile US, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)

Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2022202120222021
Operating activities
Net income$508 $691 $1,113 $2,602 
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization3,313 4,145 10,389 12,511 
Stock-based compensation expense150 131 445 403 
Deferred income tax (benefit) expense(36)(27)73 410 
Bad debt expense239 105 760 259 
Losses (gains) from sales of receivables60 4 168 (26)
Losses on redemption of debt 55  184 
Impairment expense  477  
Loss on remeasurement of disposal group held for sale371  371  
Changes in operating assets and liabilities
Accounts receivable(1,224)(454)(3,781)(2,197)
Equipment installment plan receivables(77)(530)(801)(1,825)
Inventories(7)41 384 904 
Operating lease right-of-use assets1,113 1,334 4,275 3,730 
Other current and long-term assets(334)(88)(450)(188)
Accounts payable and accrued liabilities342 111 319 (1,245)
Short- and long-term operating lease liabilities(700)(2,046)(2,218)(4,411)
Other current and long-term liabilities550 (87)587 (351)
Other, net123 92 334 157 
Net cash provided by operating activities4,391 3,477 12,445 10,917 
Investing activities
Purchases of property and equipment, including capitalized interest of $(16), $(46), $(44), and $(187)
(3,634)(2,944)(10,587)(9,397)
Purchases of spectrum licenses and other intangible assets, including deposits(360)(407)(3,319)(9,337)
Proceeds from sales of tower sites   31 
Proceeds related to beneficial interests in securitization transactions1,308 1,071 3,614 3,099 
Acquisition of companies, net of cash and restricted cash acquired (1,886)(52)(1,916)
Other, net131 14 138 46 
Net cash used in investing activities(2,555)(4,152)(10,206)(17,474)
Financing activities
Proceeds from issuance of long-term debt2,972 1,989 2,972 11,758 
Repayments of financing lease obligations(311)(266)(901)(822)
Repayments of short-term debt for purchases of inventory, property and equipment and other financial liabilities (76) (167)
Repayments of long-term debt(132)(4,600)(3,145)(9,969)
Repurchases of common stock(557) (557) 
Tax withholdings on share-based awards(10)(14)(225)(308)
Cash payments for debt prepayment or debt extinguishment costs (45) (116)
Other, net(35)(48)(97)(139)
Net cash provided by (used in) financing activities1,927 (3,060)(1,953)237 
Change in cash and cash equivalents, including restricted cash and cash held for sale3,763 (3,735)286 (6,320)
Cash and cash equivalents, including restricted cash and cash held for sale
Beginning of period3,226 7,878 6,703 10,463 
End of period$6,989 $4,143 $6,989 $4,143 
The accompanying notes are an integral part of these condensed consolidated financial statements.
5

T-Mobile US, Inc.
Condensed Consolidated Statement of Stockholders’ Equity
(Unaudited)

(in millions, except shares)Common Stock OutstandingTreasury Stock OutstandingTreasury Shares at CostPar Value and Additional Paid-in CapitalAccumulated Other Comprehensive LossAccumulated DeficitTotal Stockholders' Equity
Balance as of June 30, 20221,254,010,072 1,564,549 $(16)$73,552 $(1,295)$(2,207)$70,034 
Net income— — — — — 508 508 
Other comprehensive income— — — — 32 — 32 
Stock-based compensation— — — 165 — — 165 
Exercise of stock options26,614 — — 1 — — 1 
Stock issued for employee stock purchase plan802,361 — — 89 — — 89 
Issuance of vested restricted stock units219,301 — — — — — — 
Forfeiture of restricted stock awards(42)42 — — — — — 
Shares withheld related to net share settlement of stock awards and stock options(67,575)— — (10)— — (10)
Repurchases of common stock(4,892,315)4,892,315 (669)— — — (669)
Transfers with NQDC plan6,010 (6,010)  — — — 
Balance as of September 30, 20221,250,104,426 6,450,896 $(685)$73,797 $(1,263)$(1,699)$70,150 
Balance as of December 31, 20211,249,213,681 1,537,468 $(13)$73,292 $(1,365)$(2,812)$69,102 
Net income— — — — — 1,113 1,113 
Other comprehensive income— — — — 102 — 102 
Stock-based compensation— — — 490 — — 490 
Exercise of stock options116,817 — — 5 — — 5 
Stock issued for employee stock purchase plan2,079,086 — — 227 — — 227 
Issuance of vested restricted stock units5,380,712 — — — — — — 
Forfeiture of restricted stock awards(42)42 — — — — — 
Shares withheld related to net share settlement of stock awards and stock options(1,772,442)— — (225)— — (225)
Repurchases of common stock(4,892,315)4,892,315 (669)— — — (669)
Remeasurement of uncertain tax positions— — — 5 — — 5 
Transfers with NQDC plan(21,071)21,071 (3)3 — —  
Balance as of September 30, 20221,250,104,426 6,450,896 $(685)$73,797 $(1,263)$(1,699)$70,150 
The accompanying notes are an integral part of these condensed consolidated financial statements.

6

T-Mobile US, Inc.
Condensed Consolidated Statement of Stockholders’ Equity
(Unaudited)

(in millions, except shares)Common Stock OutstandingTreasury Stock OutstandingTreasury Shares at CostPar Value and Additional Paid-in CapitalAccumulated Other Comprehensive LossAccumulated DeficitTotal Stockholders' Equity
Balance as of June 30, 20211,247,920,536 1,557,821 $(14)$72,919 $(1,510)$(3,925)$67,470 
Net income— — — — — 691 691 
Other comprehensive income— — — — 32 — 32 
Stock-based compensation— — — 147 — — 147 
Exercise of stock options14,578 — — 1 — — 1 
Stock issued for employee stock purchase plan917,444 — — 100 — — 100 
Issuance of vested restricted stock units256,605 — — — — — — 
Shares withheld related to net share settlement of stock awards and stock options(92,992)— — (14)— — (14)
Transfers with NQDC plan18,894 (18,894)1 (1)— —  
Balance as of September 30, 20211,249,035,065 1,538,927 $(13)$73,152 $(1,478)$(3,234)$68,427 
Balance as of December 31, 20201,241,805,706 1,539,878 $(11)$72,772 $(1,581)$(5,836)$65,344 
Net income— — — — — 2,602 2,602 
Other comprehensive income— — — — 103 — 103 
Stock-based compensation— — — 451 — — 451 
Exercise of stock options195,618 — — 10 — —