AT&T INC.

Listed Company

T-PCCIK 0000732717NYSELarge AcceleratedTelephone Communications (No Radiotelephone)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$125.65B

Net Income

$21.95B

Total Assets

$420.20B

Equity

$126.49B

Shares Out

6.95B

Op. Cash Flow

$40.28B

Business

AT&T Inc. provides telecommunications and technology services, operating an integrated network that delivers wired and wireless connectivity. It offers wireless voice and data services, broadband (including fiber and fixed wireless access), business connectivity and managed services, equipment sales, and related network and professional services. The company reports two main segments—Communications (with Mobility, Business Wireline and Consumer Wireline units) and Latin America—plus Corporate and Other for support costs. Its services are marketed to U.S. consumers and global businesses, with wireless operations in Mexico, sold through company-owned stores, agents, third-party retailers and online.

Summary from filing dated 2025-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total operating revenues	125,648	122,336	122,428	120,741	134,038
Other cost of revenues (exclusive of depreciation and amortization shown separately below)	25,424	26,972	26,987	26,839	28,616
Selling, general and administrative	28,942	28,411	28,874	28,961	29,669
Asset impairments and abandonments and restructuring	838	5,075	1,193	27,498	213
Depreciation and amortization	20,886	20,580	18,777	18,021	17,852
Total operating expenses	101,486	103,287	98,967	125,328	108,141
Operating Income (Loss)	24,162	19,049	23,461	−4,587	25,897
Interest expense	−6,804	−6,759	−6,704	−6,108	—
Equity in net income of affiliates	1,895	1,989	1,675	1,791	603
Other income (expense) net	7,754	2,419	1,416	5,810	9,387
Total other income (expense)	2,845	−2,351	−3,613	1,493	3,274
Income Before Income Taxes	27,007	16,698	19,848	−3,094	29,171
Income tax expense	3,621	4,445	4,225	3,780	5,395
Income (Loss) from Continuing Operations	23,386	12,253	15,623	−6,874	23,776
Net Income	23,386	12,253	15,623	−7,055	21,479
Less: Net Income Attributable to Noncontrolling Interest	−1,433	−1,305	−1,223	−1,469	−1,398
Net Income Attributable to AT&T	21,953	10,948	14,400	−8,524	20,081
Less: Preferred Stock Dividends and Redemption Gain	−64	−202	−208	—	—
Net Income Attributable to Common Stock	21,889	10,746	14,192	−8,727	19,874
Basic Earnings Per Share Attributable to Common Stock	3.04	1.49	1.97	−1.13	2.77
Diluted Earnings Per Share Attributable to Common Stock	3.04	1.49	1.97	−1.13	2.73

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	18,234	3,298	6,722	3,701	19,223
Accounts receivable net of related allowance for credit loss of $429 and $375	8,843	9,638	10,289	11,466	12,313
Inventories	2,420	2,270	2,177	3,123	3,325
Prepaid and other current assets	19,235	15,962	17,270	—	—
Total current assets	48,732	31,168	36,458	33,108	170,768
Property, Plant and Equipment Net	131,559	128,871	128,489	127,445	121,649
Goodwill Net	63,425	63,432	67,854	67,895	92,740
Licenses Net	128,148	127,035	127,219	124,092	113,830
Other Intangible Assets Net	5,254	5,255	5,283	5,354	5,391
Investments in and Advances to Equity Affiliates	1,106	295	1,251	3,533	6,168
Operating Lease Right-Of-Use Assets	22,642	20,909	20,905	21,814	21,824
Other Assets	19,332	17,830	19,601	19,612	19,252
Total Assets	420,198	394,795	407,060	402,853	551,622
Debt maturing within one year	9,011	5,089	9,477	7,467	24,620
Accounts payable and accrued liabilities	38,514	35,657	35,852	42,644	39,095
Advanced billings and customer deposits	4,266	4,099	3,778	3,918	—
Dividends payable	1,989	2,027	2,020	2,014	3,749
Total current liabilities	53,780	46,872	51,127	56,173	106,230
Long-Term Debt	127,089	118,443	127,854	128,423	151,011
Noncurrent deferred tax liabilities	58,312	58,939	58,666	57,032	53,767
Postemployment benefit obligation	8,478	9,025	8,734	7,260	12,560
Operating lease liabilities	18,943	17,391	17,568	18,659	18,956
Other noncurrent liabilities	25,104	23,900	23,696	28,849	25,243
Total deferred credits and other noncurrent liabilities	110,837	109,255	108,664	111,800	110,526
Redeemable Noncontrolling Interest	2,001	1,980	1,973	0	—
Common stock ($1 par value, 14,000,000,000 authorized at December 31, 2025 and December 31, 2024: issued 7,620,748,598 at December 31, 2025 and December 31, 2024)	7,621	7,621	7,621	7,621	7,621
Additional paid-in capital	106,533	109,108	114,519	123,610	130,112
Retained earnings	15,768	1,871	−5,015	−19,415	42,350
Treasury stock (583,246,242 at December 31, 2025 and 444,853,148 at December 31, 2024, at cost)	−18,529	−15,023	−16,128	−17,082	−17,280
Accumulated other comprehensive income (loss)	−860	795	2,300	2,766	3,529
Noncontrolling interest	15,958	13,873	14,145	8,957	17,523
Total stockholders equity	126,491	118,245	117,442	106,457	183,855
Total Liabilities and Stockholders Equity	420,198	394,795	407,060	402,853	551,622

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for uncollectible accounts	2,271	1,969	1,969	1,865	1,241
Pension and postretirement benefit expense (credit)	−1,588	−1,883	−2,552	−3,237	−3,857
Actuarial and settlement (gain) loss on pension and postretirement benefits net	519	56	1,594	−1,999	−4,143
Net (gain) loss on investments	−5,889	80	441	—	—
Receivables	−1,526	123	82	727	−1,125
Equipment installment receivables and related sales	324	−1,846	−133	154	−271
Contract asset and cost deferral	−1,208	160	−1,006	−947	18
Inventories, prepaid and other current assets	−460	70	747	−674	−1,288
Accounts payable and other accrued liabilities	884	−1,104	−1,574	−1,109	−1,570
Changes in income taxes	2,226	1,978	2,618	—	—
Postretirement claims and contributions	−1,436	−166	−735	−823	−822
Other net	1,057	1,426	1,270	−146	103
Total adjustments	16,898	26,518	22,691	42,686	13,394
Net Cash Provided by Operating Activities	40,284	38,771	38,314	—	41,957
Capital expenditures	−20,842	−20,263	−17,853	−19,626	−15,545
Acquisitions, net of cash acquired	−379	−380	−2,942	−10,200	−25,453
Dispositions	3,218	75	72	199	7,136
Distributions from DIRECTV in excess of cumulative equity in earnings	0	928	2,049	2,649	1,323
(Purchases), sales and settlement of securities and investments, net	181	2,575	−902	82	44
Other net	−955	−425	−84	−3	6
Net Cash Used in Investing Activities	−18,777	−17,490	−19,660	—	−32,089
Net change in short-term borrowings with original maturities of three months or less	0	0	−914	−519	1,316
Issuance of other short-term borrowings	0	491	5,406	3,955	21,856
Repayment of other short-term borrowings	0	−2,487	−3,415	−18,345	−7,510
Proceeds from Issuance of Long-Term Debt	14,027	19	10,004	2,979	9,931
Repayment of long-term debt	−5,528	−10,297	−12,044	−25,118	−3,039
Note payable to DIRECTV, net of payments	0	0	−130	−1,211	1,341
Payment of vendor financing	−1,181	−1,792	−5,742	−4,697	−4,596
Redemption of preferred stock	−2,075	0	0	—	—
Purchase of treasury stock	−4,500	−215	−194	−890	−202
Issuance of treasury stock	21	15	3	28	96
Issuance of preferred interests in subsidiary	2,221	0	7,151	0	0
Redemption of preferred interests in subsidiary	−65	0	−5,333	−2,665	0
Dividends paid	−8,180	−8,208	−8,136	−9,859	−15,068
Other net	−1,126	−2,234	−2,270	−3,222	−2,231
Net Cash Used in Financing Activities	−6,386	−24,708	−15,614	—	1,578
Net increase (decrease) in cash and cash equivalents and restricted cash	15,121	−3,427	3,040	−17,523	11,446

Filings

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