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AT&T Inc. (NYSE:T)

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

AT&T 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
Debt maturing within one year 2.18 1.62 2.14 2.69 2.28 2.24 1.29 0.67 1.32 1.77 2.33 2.78 3.74 3.43 1.85 2.26 1.46 4.74 4.47 4.34 4.41 3.57
Note payable to DIRECTV 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 0.03 0.06 0.15 0.18 0.23 0.22 0.00 0.00
Accounts payable and accrued liabilities 8.88 8.86 9.17 8.65 8.21 8.33 9.03 8.11 7.83 8.00 8.81 8.52 8.09 9.58 10.59 8.59 8.60 8.12 9.18 8.76 9.07 8.82
Advanced billings and customer deposits 0.95 1.03 1.02 0.92 0.99 0.99 1.04 1.03 1.00 0.93 0.93 0.91 0.94 0.98 0.97 0.87 0.84 0.90 0.96 0.91 0.91 0.92
Dividends payable 0.45 0.47 0.47 0.47 0.50 0.51 0.51 0.51 0.51 0.52 0.50 0.50 0.49 0.52 0.50 0.47 0.47 0.36 0.68 0.69 0.69 0.70
Liabilities 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 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.00 0.00
Current liabilities 12.46% 11.97% 12.80% 12.73% 11.98% 12.08% 11.87% 10.33% 10.66% 11.22% 12.56% 12.71% 13.26% 14.51% 13.94% 12.25% 11.53% 14.29% 15.52% 14.91% 15.08% 14.01%
Long-term debt, excluding maturing within one year 31.43 31.24 30.25 30.27 30.35 29.50 30.00 32.10 31.49 31.47 31.41 31.15 31.34 30.86 31.88 29.04 30.43 31.22 27.69 28.41 28.60 29.38
Noncurrent deferred tax liabilities 14.10 14.03 13.88 14.01 14.74 14.88 14.93 14.85 14.80 14.73 14.41 14.43 14.19 14.29 14.16 13.14 12.97 11.43 11.82 11.59 11.33 11.31
Postemployment benefit obligation 1.93 2.00 2.02 2.06 2.24 2.27 2.29 2.22 2.20 2.19 2.15 1.60 1.64 1.76 1.80 1.44 2.29 1.96 2.29 2.59 2.73 2.69
Noncurrent operating lease liabilities 4.42 4.49 4.51 4.50 4.38 4.39 4.41 4.40 4.31 4.33 4.32 4.36 4.48 4.59 4.63 4.39 4.40 3.62 3.85 3.93 3.97 3.98
Other noncurrent liabilities 5.67 5.96 5.97 6.01 5.89 6.23 6.05 6.07 6.05 5.87 5.82 6.29 6.18 6.96 7.16 6.90 6.65 5.15 5.48 5.39 5.27 5.16
Noncurrent portion of note payable to DIRECTV 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 0.02 0.05 0.00 0.00
Deferred credits and other noncurrent liabilities 26.12% 26.49% 26.38% 26.58% 27.25% 27.77% 27.67% 27.54% 27.36% 27.11% 26.69% 26.67% 26.50% 27.60% 27.75% 25.88% 26.31% 22.16% 23.47% 23.54% 23.31% 23.15%
Noncurrent liabilities 57.55% 57.73% 56.62% 56.85% 57.60% 57.27% 57.67% 59.64% 58.86% 58.58% 58.10% 57.83% 57.84% 58.47% 59.63% 54.92% 56.74% 53.39% 51.15% 51.95% 51.91% 52.52%
Total liabilities 70.02% 69.70% 69.42% 69.58% 69.57% 69.35% 69.55% 69.96% 69.52% 69.81% 70.66% 70.54% 71.10% 72.97% 73.57% 67.18% 68.27% 67.68% 66.67% 66.86% 66.98% 66.53%
Redeemable noncontrolling interest 0.47 0.48 0.48 0.47 0.49 0.50 0.50 0.50 0.50 0.49 0.48 0.48 0.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Preferred stock, $1 par value 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
Common stock, $1 par value 1.78 1.81 1.81 1.80 1.88 1.92 1.93 1.94 1.91 1.91 1.87 1.87 1.87 1.90 1.89 1.79 1.79 1.32 1.38 1.39 1.40 1.39
Additional paid-in capital 24.78 25.19 25.35 25.16 26.24 26.74 27.64 27.77 28.02 27.94 28.13 28.74 29.09 30.13 30.68 28.83 28.81 22.46 23.59 23.77 23.86 23.74
Retained earnings (deficit) 4.74 4.18 3.75 3.30 1.65 1.06 0.47 -0.05 0.00 -0.39 -1.23 -1.77 -2.62 -3.79 -4.82 1.44 0.50 7.80 7.68 7.51 7.15 7.52
Treasury stock, at cost -5.24 -4.81 -4.41 -3.95 -3.75 -3.59 -3.81 -3.83 -3.84 -3.82 -3.96 -3.97 -3.96 -4.03 -4.24 -4.02 -4.02 -2.87 -3.13 -3.17 -3.18 -3.17
Accumulated other comprehensive income (loss) -0.28 -0.33 -0.20 -0.15 -0.05 -0.04 0.20 0.16 0.36 0.54 0.57 0.63 0.56 0.59 0.69 0.67 0.54 0.57 0.64 0.43 0.57 0.77
Stockholders’ equity attributable to AT&T 25.78% 26.04% 26.30% 26.16% 25.96% 26.10% 26.44% 26.00% 26.46% 26.17% 25.38% 25.50% 24.95% 24.79% 24.20% 28.70% 27.61% 29.29% 30.15% 29.93% 29.79% 30.25%
Noncontrolling interest 3.73 3.79 3.80 3.79 3.98 4.05 3.51 3.54 3.53 3.53 3.47 3.48 3.47 2.23 2.22 4.12 4.12 3.04 3.18 3.20 3.22 3.22
Total stockholders’ equity 29.52% 29.82% 30.10% 29.95% 29.94% 30.16% 29.95% 29.53% 29.98% 29.70% 28.85% 28.98% 28.42% 27.03% 26.43% 32.82% 31.73% 32.32% 33.33% 33.14% 33.02% 33.47%
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 period of significant volatility between 2021 and 2023, followed by a phase of stabilization through mid-2026. Total liabilities generally constitute the majority of the balance sheet, fluctuating between 66.53% and 73.57%, with a notable peak in late 2022 before settling into a range of approximately 69% to 70% in recent periods.

Current Liability Trends
Current liabilities have experienced a general contraction, moving from a range of 14% to 15% in 2021 to approximately 12% by 2026. This decline is largely driven by a reduction in debt maturing within one year, which peaked at 4.74% in March 2022 and reached a low of 0.67% in September 2024. Accounts payable and accrued liabilities have remained relatively stable, typically oscillating between 8% and 10% of total liabilities and equity.
Noncurrent Liability Profile
Noncurrent liabilities have expanded as a proportion of the total balance sheet, rising from 52.52% in early 2021 to stabilize around 57% to 58% in later years. Long-term debt, excluding the current portion, has remained consistently high, generally fluctuating between 29% and 32%. There is a observable upward trend in noncurrent deferred tax liabilities, which increased from 11.31% in March 2021 to approximately 14% by 2026. Similarly, deferred credits and other noncurrent liabilities grew from 23.15% to a peak of 27.77% before stabilizing near 26%.
Stockholders' Equity Dynamics
Total stockholders' equity showed a marked decline during 2022, hitting a minimum of 26.43% in December of that year, before recovering to approximately 29.5% by June 2026. A critical component of this volatility is observed in retained earnings, which shifted from a positive 7.52% in early 2021 to a deficit of 4.82% in December 2022, followed by a steady recovery to a positive 4.74% by June 2026. This recovery indicates a return to cumulative profitability or a reduction in previous deficits.
Capital Adjustments and Treasury Activity
Additional paid-in capital saw a significant increase in late 2022, peaking at 30.68% before trending downward to 24.78% by mid-2026. Concurrently, the proportion of treasury stock has become increasingly negative, moving from -3.17% in March 2021 to -5.24% in June 2026, suggesting a consistent increase in share repurchases relative to the total balance sheet size.

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