AT&T has realigned its business divisions ahead of its third quarter earnings report, adding two more reporting segments to its structure for a total of four.
In a Wednesday filing with the U.S. Securities and Exchange Commission, the company detailed its new organizational breakdown, which will now include a Business Solutions Segment, an Entertainment and Internet Services segment, a Consumer Mobility Segment and an International segment.
According to the filing, the Business Solutions segment will be charge with providing both wireless and wireline services to businesses and individual subscribers who purchase wireless services through employer-sponsored plans. AT&T’s wireless services – encompassing voice and data services including “high speed Internet, video entertainment and home monitoring services for consumers” – for wholesale and resale subscribers will now fall into the Consumer Mobility segment. The company’s entertainment, Internet and communications services for residential customers will be reported under the Entertainment and Internet Services segment.
The fourth and final reporting category, the International segment, will cover AT&T’s “recently acquired entertainment and wireless businesses in Latin America and Mexico.” This category will include the results for the company’s Venezuelan DirecTV subsidiary, which AT&T previously warned will face a nearly $1.1 billion asset hit when it changes from the SICAD exchange rate to the SIMADI exchange rate. The SICAD exchange rate, which was previously used to value DirecTV’s assets in the country, is based on a rate of 12 Venezuelan bolivars per U.S. dollar where the SIMADI system is based on a rate of around 200 bolivars per U.S. dollar.