Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T) 

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

AT&T Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Debt maturing within one year 2.14 1.29 2.33 1.85 4.47
Note payable to DIRECTV 0.00 0.00 0.00 0.03 0.23
Accounts payable 7.12 6.95 6.71 7.72 5.58
Accrued payroll and commissions 0.48 0.51 0.42 0.40 0.63
Current portion of employee benefit obligation 0.15 0.14 0.16 0.29 0.23
Current portion of Mobility preferred interests 0.00 0.00 0.00 0.66 0.00
Accrued interest 0.56 0.51 0.54 0.54 0.45
Accrued taxes 0.14 0.33 0.25 0.20 0.25
Other 0.72 0.59 0.74 0.78 2.05
Accounts payable and accrued liabilities 9.17% 9.03% 8.81% 10.59% 9.18%
Advanced billings and customer deposits 1.02 1.04 0.93 0.97 0.96
Dividends payable 0.47 0.51 0.50 0.50 0.68
Current liabilities 12.80% 11.87% 12.56% 13.94% 15.52%
Long-term debt, excluding maturing within one year 30.25 30.00 31.41 31.88 27.69
Noncurrent deferred tax liabilities 13.88 14.93 14.41 14.16 11.82
Postemployment benefit obligation 2.02 2.29 2.15 1.80 2.29
Noncurrent operating lease liabilities 4.51 4.41 4.32 4.63 3.85
Other noncurrent liabilities 5.97 6.05 5.82 7.16 5.48
Noncurrent portion of note payable to DIRECTV 0.00 0.00 0.00 0.00 0.02
Deferred credits and other noncurrent liabilities 26.38% 27.67% 26.69% 27.75% 23.47%
Noncurrent liabilities 56.62% 57.67% 58.10% 59.63% 51.15%
Total liabilities 69.42% 69.55% 70.66% 73.57% 66.67%
Redeemable noncontrolling interest 0.48 0.50 0.48 0.00 0.00
Preferred stock, $1 par value 0.00 0.00 0.00 0.00 0.00
Common stock, $1 par value 1.81 1.93 1.87 1.89 1.38
Additional paid-in capital 25.35 27.64 28.13 30.68 23.59
Retained earnings (deficit) 3.75 0.47 -1.23 -4.82 7.68
Treasury stock, at cost -4.41 -3.81 -3.96 -4.24 -3.13
Accumulated other comprehensive income (loss) -0.20 0.20 0.57 0.69 0.64
Stockholders’ equity attributable to AT&T 26.30% 26.44% 25.38% 24.20% 30.15%
Noncontrolling interest 3.80 3.51 3.47 2.22 3.18
Total stockholders’ equity 30.10% 29.95% 28.85% 26.43% 33.33%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00%

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 composition of liabilities and stockholders’ equity experienced notable shifts between 2021 and 2025. Overall, the proportion of total liabilities decreased slightly over the period, while stockholders’ equity remained relatively stable, fluctuating within a narrow range.

Current Liabilities
Current liabilities, as a percentage of the total, generally decreased from 15.52% in 2021 to 11.87% in 2024, before increasing slightly to 12.80% in 2025. Within this category, debt maturing within one year exhibited a substantial decline from 4.47% to 1.29% between 2021 and 2024, with a slight increase to 2.14% in 2025. Accounts payable demonstrated an increasing trend, rising from 5.58% to 7.12% over the five-year period. Accrued payroll and commissions decreased significantly from 0.63% to 0.48%, while accrued taxes showed volatility, decreasing initially and then increasing before falling in 2025.
Noncurrent Liabilities
Noncurrent liabilities initially increased significantly from 51.15% in 2021 to 59.63% in 2022, then gradually decreased to 56.62% in 2025. Long-term debt, excluding maturing within one year, remained relatively stable, fluctuating between 27.69% and 31.88%. Noncurrent deferred tax liabilities increased from 11.82% to 14.93% between 2021 and 2023, then decreased to 13.88% in 2025. Deferred credits and other noncurrent liabilities consistently represented a substantial portion, ranging from 23.47% to 27.75%.
Stockholders’ Equity
Total stockholders’ equity decreased from 33.33% in 2021 to 26.43% in 2022, then showed a recovery to 30.10% in 2025. Within stockholders’ equity, retained earnings experienced a significant shift from a positive 7.68% in 2021 to a negative -4.82% in 2022, and then gradually improved to 3.75% in 2025. Additional paid-in capital decreased from 23.59% to 25.35% over the period. Treasury stock consistently represented a negative percentage, increasing in magnitude from -3.13% to -4.41%. Noncontrolling interest remained relatively stable, fluctuating between 2.22% and 3.80%.
Specific Liability Items
Note payable to DIRECTV decreased substantially from 0.23% to 0.03% between 2021 and 2022, and was not reported in subsequent years. The current portion of Mobility preferred interests appeared in 2022 at 0.66% and was not reported in other years. The redeemable noncontrolling interest was first reported in 2023 and remained relatively stable at around 0.5%.

In summary, the liability structure shifted towards a greater reliance on noncurrent liabilities initially, followed by a slight reduction in overall liabilities and a stabilization of stockholders’ equity. Changes within specific liability accounts, such as the decline in short-term debt and the fluctuations in retained earnings, warrant further investigation.

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