Stock Analysis on Net

AT&T Inc. (NYSE:T)

$24.99

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

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

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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
Note payable to DIRECTV
Accounts payable and accrued liabilities
Advanced billings and customer deposits
Dividends payable
Liabilities from discontinued operations
Current liabilities
Long-term debt, excluding maturing within one year
Noncurrent deferred tax liabilities
Postemployment benefit obligation
Noncurrent operating lease liabilities
Other noncurrent liabilities
Noncurrent portion of note payable to DIRECTV
Deferred credits and other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Redeemable noncontrolling interest
Preferred stock, $1 par value
Common stock, $1 par value
Additional paid-in capital
Retained earnings (deficit)
Treasury stock, at cost
Accumulated other comprehensive income (loss)
Stockholders’ equity attributable to AT&T
Noncontrolling interest
Total stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 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 transition from a period of equity volatility and increasing liability concentration toward a more stabilized composition. Total liabilities peaked at 73.57% of total liabilities and stockholders' equity in December 2022, before moderating to a consistent range between 69% and 70% throughout 2023, 2024, and 2025.

Short-Term Obligation Trends
Current liabilities have demonstrated a general downward trajectory, decreasing from a high of 15.52% in December 2021 to approximately 11.97% by March 2026. This decline is primarily driven by a reduction in debt maturing within one year, which fell from a peak of 4.74% in March 2022 to 1.62% by the end of the observed period. Accounts payable and accrued liabilities have remained relatively stable, fluctuating between 7.8% and 10.6%.
Long-Term Liability Composition
Noncurrent liabilities increased from 52.52% in March 2021 to a peak of 59.64% in September 2024, eventually stabilizing around 57.73% by March 2026. A significant driver of this growth is the increase in deferred credits and other noncurrent liabilities, which rose from 23.15% in early 2021 to roughly 26.49% by March 2026. Similarly, noncurrent deferred tax liabilities grew from 11.31% to approximately 14.03% over the same period. Long-term debt, excluding the current portion, remained consistent, generally oscillating between 28% and 32%.
Stockholders' Equity and Retained Earnings
Total stockholders' equity experienced a notable contraction, dropping from 33.47% in March 2021 to a low of 26.43% in December 2022. This period was characterized by a sharp decline in retained earnings, which shifted from a positive 7.52% in March 2021 to a deficit of -4.82% in December 2022. However, a consistent recovery is observed from 2023 onward, with retained earnings returning to positive territory and reaching 4.18% by March 2026.
Capital Management and Shareholder Interests
Additional paid-in capital saw an increase from 23.74% in March 2021 to a peak of 30.68% in December 2022, before trending downward to 25.19% by March 2026. Concurrently, the contra-equity account for treasury stock expanded from -3.17% to -4.81%, indicating an increase in the proportion of shares repurchased. Noncontrolling interests remained relatively stable, moving from 3.22% to 3.79% over the analysis period.