Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T)

Common-Size Balance Sheet: Assets 
Quarterly Data

AT&T Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents 2.59 1.73 0.84 0.66 0.78 0.88 1.65 1.85 2.33 0.70 0.92 0.57 0.94 6.68 3.84 3.89 2.18 2.07 1.85 1.81 3.09 1.83
Accounts receivable, net of related allowances for credit loss 2.18 2.32 2.44 2.30 2.43 2.40 2.53 2.20 2.28 2.55 2.85 2.67 2.67 2.98 3.19 2.98 2.90 3.10 3.84 3.60 3.49 3.65
Inventories 0.58 0.65 0.57 0.64 0.46 0.53 0.53 0.62 0.57 0.70 0.78 0.92 0.76 0.55 0.63 0.56 0.52 0.61 0.70 0.00 0.00 0.00
Prepaid and other current assets 4.34 3.79 4.04 3.97 3.84 3.81 4.24 4.08 3.79 3.51 3.68 3.41 3.70 3.10 3.23 3.03 5.95 5.68 3.49 3.87 3.74 4.19
Assets from discontinued operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current assets 9.69% 8.50% 7.89% 7.57% 7.50% 7.62% 8.96% 8.76% 8.98% 7.46% 8.22% 7.57% 8.09% 13.32% 10.88% 10.46% 11.54% 11.47% 9.89% 9.28% 10.32% 9.66%
Noncurrent inventories and theatrical film and television production costs 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 3.43 3.44 3.26 2.99 2.86 2.81 2.59 2.65 2.43
Property, plant and equipment 87.84 88.36 88.89 87.89 86.08 84.90 83.50 82.94 81.82 82.44 81.82 76.89 75.83 56.04 59.73 59.56 59.16 58.97 62.34 61.98 60.76 60.36
Accumulated depreciation and amortization -56.00 -56.04 -56.24 -55.39 -53.98 -52.89 -51.93 -51.34 -50.29 -50.40 -50.19 -47.10 -46.48 -34.00 -36.91 -36.82 -36.47 -36.19 -38.12 -38.08 -37.22 -36.72
Property, plant and equipment, net 31.84% 32.32% 32.64% 32.50% 32.10% 32.01% 31.57% 31.59% 31.53% 32.04% 31.64% 29.79% 29.34% 22.03% 22.82% 22.74% 22.69% 22.78% 24.22% 23.90% 23.53% 23.64%
Goodwill, net 15.64 15.96 16.07 16.11 17.05 16.99 16.67 16.68 16.61 16.94 16.85 21.74 21.75 23.09 24.15 24.43 24.72 24.71 25.73 26.68 26.22 26.69
Licenses, net 31.45 32.04 32.18 32.29 31.98 31.90 31.25 31.25 30.62 31.06 30.80 29.04 28.97 19.77 20.64 20.55 16.15 16.08 17.85 18.27 18.03 17.72
Distribution networks, net 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 1.99 2.16 2.27 2.36 2.44 2.62 2.65 2.68 2.73
Other intangible assets, net 1.30 1.32 1.33 1.33 1.33 1.32 1.30 1.31 1.31 1.33 1.33 1.26 1.26 5.76 6.11 6.29 6.43 6.66 7.36 7.63 7.70 7.87
Intangible assets, net 32.75% 33.36% 33.51% 33.63% 33.30% 33.22% 32.55% 32.57% 31.92% 32.39% 32.13% 30.30% 30.23% 27.52% 28.91% 29.11% 24.94% 25.18% 27.83% 28.55% 28.41% 28.32%
Investments in and advances to equity affiliates 0.25 0.24 0.07 0.07 0.15 0.22 0.31 0.45 0.68 0.70 0.88 0.93 1.06 1.03 1.32 1.58 0.34 0.33 0.34 0.43 0.42 0.66
Operating lease right-of-use assets 5.30 5.28 5.30 5.28 5.17 5.17 5.14 5.16 5.28 5.39 5.41 5.11 5.11 4.15 4.38 4.45 4.48 4.46 4.70 4.56 4.51 4.40
Deposits on wireless licenses 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 1.58 0.00 0.00 4.34 4.28 0.00 0.00 0.00 0.00
Other assets 4.53 4.34 4.52 4.84 4.73 4.76 4.82 4.78 4.99 5.07 4.87 4.56 4.41 3.86 4.09 3.98 3.97 3.93 4.49 4.01 3.94 4.19
Noncurrent assets 90.31% 91.50% 92.11% 92.43% 92.50% 92.38% 91.04% 91.24% 91.02% 92.54% 91.78% 92.43% 91.91% 86.68% 89.12% 89.54% 88.46% 88.53% 90.11% 90.72% 89.68% 90.34%
Total assets 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: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Cash and Cash Equivalents
This category experienced fluctuations throughout the periods. Initially, it increased from 1.83% in March 2020 to a peak of 6.68% in March 2022, indicating a buildup of liquidity. However, following this peak, the percentage declined sharply to below 1% in the subsequent quarters, before gradually rising again to 2.59% by June 2025.
Accounts Receivable, Net
The proportion of accounts receivable relative to total assets showed a gradual decline over time. Starting at 3.65% in March 2020, it decreased steadily to 2.18% by June 2025. This trend suggests improved collection efficiency or reduced credit sales within the asset base.
Inventories
Inventories, where recorded, ranged modestly around 0.5% to 0.9% of total assets across the reported periods. The data indicates minor fluctuations without a clear long-term increase or decrease, suggesting a relatively stable inventory level compared to total assets.
Prepaid and Other Current Assets
This category fluctuated moderately, with a notable increase in the early part of 2021, reaching approximately 5.95%. Subsequently, it stabilized around 3.7% to 4.3%. The initial rise may indicate increased prepaid expenses or other current asset accumulation followed by normalization.
Current Assets
Current assets as a percentage of total assets showed volatility. They rose from 9.66% in March 2020 to a high of 13.32% in March 2022, then decreased to around 7.5%-9.7% thereafter. The spike in early 2022 could reflect temporary liquidity management strategies or other short-term asset adjustments.
Property, Plant and Equipment (PPE)
PPE showed a significant increase in relative terms from approximately 60% in early 2020 to nearly 88% by June 2025, evidencing substantial investment or capital expenditures in fixed assets. Correspondingly, accumulated depreciation increased from roughly -37% to -56%, indicating aging assets and steady charge-offs. Net PPE remained relatively stable around 22%-32%, trending upward particularly after 2022.
Goodwill, Net
Goodwill as a proportion of total assets consistently decreased from 26.69% in March 2020 to about 15.64% by June 2025. This decline suggests impairment charges, asset write-downs, or divestitures reducing goodwill carrying values over time.
Licenses, Net
Licenses demonstrated a rising trend, increasing from around 17.7% in early 2020 to above 32% by mid-2024, followed by a slight reduction towards 31.45% in June 2025. This indicates growing intangible assets related to licenses, perhaps due to acquisitions or capitalizing of license-related costs.
Distribution Networks, Net
Distribution networks declined steadily from 2.73% in March 2020 to 1.99% by March 2022. No data is available beyond this point, but the trend suggests a gradual reduction or reclassification of these assets.
Other Intangible Assets, Net
Other intangible assets decreased notably from 7.87% to approximately 1.3% after early 2022 and remained stable at that low level. This substantial drop may represent disposals, amortization, or reclassification of intangible assets.
Intangible Assets, Net
Despite reductions in goodwill and other intangibles, net intangible assets overall remained stable around 28% to 33%, with an uptick from early 2022. This stability reflects offsetting changes among various intangible asset categories.
Investments in and Advances to Equity Affiliates
This category shows a decline over time, from 0.66% in early 2020 to about 0.25% by June 2025. Some temporary increases were observed, but the overall downward trend suggests divestment or lower affiliate-related investments.
Operating Lease Right-of-Use Assets
Right-of-use assets exhibited a slight increase, moving from 4.4% to approximately 5.3% of total assets. This suggests ongoing recognition of lease assets consistent with lease accounting standards.
Deposits on Wireless Licenses
Data is limited to a few periods where values peaked at around 4.3% in mid-2021 and dropped to 1.58% by March 2022, followed by no subsequent data. This may indicate payments held for licensing purposes that were either settled or reclassified.
Other Assets
Other assets fluctuated moderately between about 3.8% and 5.1%, showing slight variability but no distinct trend. This reflects a relatively stable balance of miscellaneous asset components within total assets.
Noncurrent Assets
Noncurrent assets consistently comprised the majority of total assets, fluctuating around 89%-92%. This demonstrates a heavy asset base invested in long-term assets, consistent with the substantial PPE and intangible asset holdings.