AT&T INC. Leases Disclosure
| 2025 | 2024 | 2023 | |||||||||
| Operating lease cost | $ | 5,927 | $ | 5,776 | $ | 5,577 | |||||
| Finance lease cost: | |||||||||||
Amortization of leased assets in property, plant and equipment | $ | 182 | $ | 205 | $ | 232 | |||||
| Interest on lease obligation | 142 | 171 | 184 | ||||||||
| Total finance lease cost | $ | 324 | $ | 376 | $ | 416 | |||||
| 2025 | 2024 | 2023 | |||||||||
Cash Flows from Operating Activities | |||||||||||
| Cash paid for amounts included in lease obligations: | |||||||||||
| Operating cash flows from operating leases | $ | 4,830 | $ | 4,757 | $ | 4,588 | |||||
| Supplemental Lease Cash Flow Disclosures | |||||||||||
| Operating lease right-of-use assets obtained in exchange for new operating lease obligations | 5,517 | 3,762 | 2,693 | ||||||||
| 2025 | 2024 | |||||||
| Operating Leases | ||||||||
| Operating lease right-of-use assets | $ | 22,642 | $ | 20,909 | ||||
| $ | 3,581 | $ | 3,533 | |||||
| 18,943 | 17,391 | |||||||
| Total operating lease obligation | $ | 22,524 | $ | 20,924 | ||||
| Finance Leases | ||||||||
| Property, plant and equipment, at cost | $ | 2,476 | $ | 2,449 | ||||
| Accumulated depreciation and amortization | (1,484) | (1,378) | ||||||
| $ | 992 | $ | 1,071 | |||||
| $ | 190 | $ | 179 | |||||
| 1,192 | 1,237 | |||||||
| Total finance lease obligation | $ | 1,382 | $ | 1,416 | ||||
| 2025 | 2024 | |||||||
| Weighted-Average Remaining Lease Term (years) | ||||||||
| Operating leases | 7.6 | 7.6 | ||||||
| Finance leases | 5.3 | 6.7 | ||||||
| Weighted-Average Discount Rate | ||||||||
| Operating leases | 4.6 | % | 4.5 | % | ||||
| Finance leases | 8.7 | % | 8.5 | % | ||||
At December 31, 2025 | Operating Leases | Finance Leases | |||||||||
| 2026 | $ | 4,956 | $ | 309 | |||||||
| 2027 | 4,489 | 316 | |||||||||
| 2028 | 3,871 | 324 | |||||||||
| 2029 | 3,141 | 333 | |||||||||
| 2030 | 2,291 | 275 | |||||||||
| Thereafter | 8,808 | 204 | |||||||||
| Total lease payments | 27,556 | 1,761 | |||||||||
Less: Imputed interest | (5,032) | (379) | |||||||||
| Total | $ | 22,524 | $ | 1,382 | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 9, 2026 | Showing above |
| 2024 | Feb 12, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 13, 2023 | |
| 2021 | Feb 16, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 20, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.