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T-Mobile US Inc. (NASDAQ:TMUS)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

T-Mobile US Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Accounts payable and accrued liabilities 4.11 4.44 4.69 4.23 3.67 3.68 4.07 3.56 3.64 3.74 4.99 4.63 4.69 5.28 5.81 5.61 5.34 5.29 5.52 4.32 4.12 4.28
Short-term debt 2.86 1.04 2.34 2.92 3.01 3.83 1.96 2.78 2.81 2.60 1.74 1.65 3.67 2.48 2.44 3.47 1.40 1.36 1.64 1.04 2.28 2.18
Short-term debt to affiliates 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.59 1.09 1.11 1.09 0.00
Deferred revenue 0.67 0.68 0.70 0.68 0.57 0.56 0.59 0.53 0.53 0.41 0.40 0.40 0.38 0.38 0.37 0.36 0.39 0.40 0.41 0.45 0.46 0.48
Short-term operating lease liabilities 1.70 1.70 1.74 1.63 1.57 1.54 1.58 1.58 1.54 1.67 1.71 1.70 1.56 1.64 1.66 1.58 1.60 1.54 1.66 1.52 1.75 1.72
Short-term financing lease liabilities 0.55 0.54 0.53 0.53 0.54 0.53 0.56 0.59 0.60 0.61 0.61 0.62 0.58 0.56 0.55 0.58 0.58 0.53 0.54 0.57 0.51 0.50
Other current liabilities 1.14 1.08 1.17 1.19 1.02 0.88 0.94 0.90 1.93 0.94 0.62 1.41 0.78 1.01 0.88 0.75 0.53 0.46 0.52 0.51 0.48 0.43
Current liabilities 11.03% 9.48% 11.18% 11.19% 10.39% 11.01% 9.70% 9.94% 11.05% 9.97% 10.08% 10.41% 11.67% 11.35% 11.71% 12.35% 9.85% 10.17% 11.38% 9.52% 10.70% 9.59%
Long-term debt 36.76 39.04 36.33 35.16 35.28 35.42 34.95 34.41 33.66 34.60 33.66 33.74 32.60 32.37 30.90 30.37 31.77 31.74 32.47 32.97 32.28 32.65
Long-term debt to affiliates 0.00 0.00 0.68 0.69 0.70 0.70 0.72 0.71 0.72 0.73 0.72 0.72 0.71 0.71 0.71 0.70 0.71 0.71 0.72 0.74 1.22 2.32
Tower obligations 1.62 1.63 1.61 1.64 1.69 1.69 1.76 1.75 1.79 1.82 1.82 1.83 1.83 1.85 1.86 1.86 1.91 1.92 1.36 1.42 1.43 1.46
Deferred tax liabilities 9.94 9.44 8.93 8.85 8.68 8.16 8.03 7.52 7.20 6.88 6.48 6.18 5.81 5.48 5.15 4.87 4.98 4.94 4.95 5.13 5.09 4.99
Long-term operating lease liabilities 11.91 12.04 12.03 12.33 12.06 12.10 12.69 12.73 13.08 13.49 13.60 13.75 13.80 13.98 14.13 14.18 14.76 14.80 12.50 13.00 12.99 13.08
Long-term financing lease liabilities 0.52 0.48 0.50 0.55 0.56 0.52 0.55 0.56 0.54 0.56 0.60 0.61 0.60 0.61 0.65 0.74 0.76 0.69 0.70 0.79 0.67 0.65
Other long-term liabilities 1.87 1.86 1.73 1.74 1.89 1.93 1.92 1.88 1.93 1.86 1.89 1.75 1.78 1.81 1.94 2.07 1.82 1.81 2.47 2.58 2.56 2.61
Long-term liabilities 62.62% 64.49% 61.82% 60.96% 60.87% 60.52% 60.62% 59.57% 58.92% 59.94% 58.76% 58.57% 57.11% 56.81% 55.33% 54.80% 56.72% 56.61% 55.17% 56.62% 56.25% 57.77%
Total liabilities 73.65% 73.97% 73.00% 72.15% 71.26% 71.53% 70.32% 69.51% 69.97% 69.91% 68.84% 68.98% 68.78% 68.16% 67.04% 67.14% 66.56% 66.78% 66.55% 66.15% 66.95% 67.36%
Common stock, par value $0.00001 per share 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 32.72 32.45 31.68 31.89 32.45 32.07 33.07 32.58 32.83 32.86 32.60 35.67 35.21 35.23 34.99 34.57 35.11 34.85 35.48 36.19 35.72 35.82
Treasury stock, at cost -17.64 -16.54 -13.93 -12.92 -12.02 -10.76 -9.89 -7.55 -7.32 -6.29 -4.51 -6.76 -5.41 -3.73 -1.43 -0.32 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
Accumulated other comprehensive loss -0.30 -0.39 -0.39 -0.41 -0.43 -0.46 -0.41 -0.42 -0.44 -0.45 -0.46 -0.45 -0.45 -0.48 -0.49 -0.59 -0.62 -0.63 -0.66 -0.73 -0.74 -0.76
Retained earnings (accumulated deficit) 11.56 10.50 9.64 9.28 8.74 7.61 6.91 5.88 4.97 3.97 3.54 2.56 1.87 0.82 -0.11 -0.80 -1.05 -1.00 -1.36 -1.60 -1.92 -2.41
Stockholders’ equity 26.35% 26.03% 27.00% 27.85% 28.74% 28.47% 29.68% 30.49% 30.03% 30.09% 31.16% 31.02% 31.22% 31.84% 32.96% 32.86% 33.44% 33.22% 33.45% 33.85% 33.05% 32.64%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

The capital structure exhibits a progressive shift toward higher leverage, as total liabilities increase as a proportion of total liabilities and stockholders' equity over the analyzed period. This trend is characterized by a steady growth in long-term obligations and a simultaneous contraction in the relative weight of stockholders' equity, suggesting a strategic shift in financing and capital allocation.

Liability Trends and Composition
Total liabilities rose from 67.36% in March 2021 to 73.65% by June 2026. This growth is primarily concentrated in long-term liabilities, which climbed from 57.77% to 62.62%. Current liabilities remained relatively stable, generally fluctuating between 9% and 12% of the total structure.
Long-term debt showed a notable upward trajectory, increasing from 32.65% in March 2021 to 36.76% by June 2026, with a peak of 39.04% recorded in March 2026. Concurrently, deferred tax liabilities exhibited a consistent and significant increase, nearly doubling from 4.99% to 9.94% over the same period.
Long-term operating lease liabilities experienced a gradual decline, moving from 13.08% to 11.91%, indicating a reduction in the relative weight of lease obligations within the balance sheet.
Equity Dynamics and Capital Management
Stockholders' equity decreased from 32.64% in March 2021 to 26.35% by June 2026. This decline is heavily influenced by an aggressive increase in treasury stock, which moved from -0.01% to -17.64%, signaling substantial share repurchase activity.
A significant turnaround is observed in retained earnings, which shifted from an accumulated deficit of -2.41% in March 2021 to a positive balance of 11.56% by June 2026. This transition indicates a move toward sustained profitability and the accumulation of earnings over time.
Additional paid-in capital remained relatively stable for several years before trending slightly downward from 35.82% to 32.72%, reflecting the changing composition of the equity base.
Overall Financial Positioning
The data indicates a deliberate strategy of utilizing debt and retained earnings to fund significant shareholder returns via stock buybacks. The increase in the liability-to-equity ratio suggests a higher reliance on external financing and tax-deferred obligations to support operations and capital returns.

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