Analysis of Inventory
Inventory Disclosure
AT&T Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventories | 2,420) | 2,270) | 2,177) | 3,123) | 3,464) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The reported inventories demonstrate a fluctuating pattern over the five-year period. An initial decrease is followed by a period of relative stability and a subsequent modest increase.
- Overall Trend
- The value of inventories decreased from US$3,464 million in 2021 to US$3,123 million in 2022, representing a decline of approximately 9.8%. This was followed by a more substantial decrease to US$2,177 million in 2023, a reduction of roughly 30.4% from the prior year. Inventories then exhibited a slight increase to US$2,270 million in 2024, and continued to rise to US$2,420 million in 2025.
- Magnitude of Changes
- The largest single-year decrease occurred between 2022 and 2023. The increase from 2024 to 2025, while positive, was considerably smaller in absolute terms than the prior decrease. The change between 2021 and 2025 represents an overall decrease of approximately 30.1%.
- Recent Performance
- The most recent two years, 2024 and 2025, show a positive trend in inventory levels. This suggests a potential shift in inventory management strategy or increased demand for products held in inventory. However, the levels remain below those observed in 2021 and 2022.
The observed fluctuations warrant further investigation to understand the underlying drivers, such as changes in supply chain dynamics, production levels, or sales patterns. The recent increase, while modest, could indicate a strategic build-up of inventory in anticipation of future demand.