Stock Analysis on Net

AT&T Inc. (NYSE:T)

$24.99

Analysis of Debt

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Total Debt (Carrying Amount)

AT&T Inc., balance sheet: debt

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total debt (carrying amount)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Debt item Description The company
Total debt (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. AT&T Inc. total debt decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Total Debt (Fair Value)

Microsoft Excel
Dec 31, 2023
Selected Financial Data (US$ in millions)
Notes and debentures
Commercial paper
Bank borrowings
Finance lease obligations
Total debt (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2023-12-31).


Weighted-average Interest Rate on Debt

Weighted-average interest rate of long-term debt portfolio, including, credit agreement borrowings and the impact of derivatives:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2023-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

AT&T Inc., interest costs incurred

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Interest expense
Capitalized interest
Interest expense incurred

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. AT&T Inc. interest expense decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Capitalized interest Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. AT&T Inc. capitalized interest increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Interest expense incurred Total interest costs incurred during the period and either capitalized or charged against earnings. AT&T Inc. interest expense incurred decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Adjusted Interest Coverage Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to AT&T
Add: Net income attributable to noncontrolling interest
Less: Loss from discontinued operations, net of tax
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Interest expense incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest expense incurred
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). AT&T Inc. adjusted interest coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.