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Reconciliation of 2005 Operating Income to Operating Cash Flow and Free Cash Flow
| (Dollars in millions) | |
| 2005 Operating Income | $3,690 |
| Add: 2005 Depreciation and Amortization | 4,803 |
| 2005 Operating Cash Flow | 8,493 |
| Less: | 2005 Capital Expenditures | 3,621 |
| | 2005 Consolidated Interest, net(1) | 1,653 |
| | 2005 Consolidated Cash Paid for Income Taxes(2) | 653 |
| 2005 Free Cash Flow(3) | $2,566 |
| (1) | Includes interest expense net of interest income and excludes non-cash interest and subsidiary preferred dividends. |
| (2) | Cash paid for income taxes excludes $490 million related to AT&T Broadband income taxes and related interest, net of estimated tax benefit. |
| (3) | Free Cash Flow (as presented above) is defined as Operating Cash Flow less net interest, cash paid for income taxes, and capital expenditures. It is unaffected by fluctuations in working capital levels from period to period and cash payments associated with intangible and other noncurrent assets, acquisitions and investments. |
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