AT&T; May Write Down Assets, Record Expense

AT&T; Corp. said it might write down the value of assets after its decision to stop seeking new residential customers.

The company may record expenses this quarter after reviewing assets such as property and equipment, valued at $22.8 billion, said a spokesman for Bedminster, N.J.-based AT&T.; The company also is assessing $4.78 billion in goodwill.

By reducing the value of assets, AT&T; may cut depreciation costs, which are almost three times capital spending and a drag on profit, Goldman, Sachs & Co. analyst Frank Governali said in a note to clients last month.

Shares of AT&T; fell 34 cents to $14.76 on the NYSE.

* Verizon Communications Inc., the largest U.S. local-phone company, and No. 3 carrier BellSouth Corp. received letters from the Federal Communications Commission asking for confirmation of 2003 subscriber numbers.