Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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AT&T Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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AT&T Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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 asset composition of the entity demonstrates significant fluctuations over the observed period, spanning from March 2021 to December 2025. A notable shift in the allocation of assets is apparent, particularly concerning current assets and specific noncurrent asset categories.
- Cash and Cash Equivalents
- Cash and cash equivalents experienced substantial volatility. A significant increase occurred between March 2021 and September 2021, peaking at US$21.270 billion, followed by a further surge to US$38.565 billion by March 2022. Subsequently, a marked decline was observed, reaching a low of US$2.586 billion by September 2024, before recovering to US$20.272 billion by September 2025. This suggests periods of substantial cash inflow followed by significant cash outflow, potentially related to acquisitions, debt repayment, or operational investments.
- Current Assets
- Total current assets exhibited a generally stable range between March 2021 and June 2021, fluctuating around US$62-63 billion. A considerable decrease occurred in the latter half of 2022, falling to US$32.295 billion by September 2022, and reaching a low of US$29.799 billion by September 2024. A recovery is then observed, with current assets rising to US$42.0198 billion by December 2025. This trend is largely influenced by the movements in cash and cash equivalents, as well as accounts receivable and prepaid assets.
- Accounts Receivable
- Accounts receivable remained relatively stable between US$15.771 billion and US$17.571 billion through June 2022. A gradual decline was then observed, reaching US$8.843 billion by December 2025. This suggests a tightening of credit terms, improved collection efficiency, or a decrease in sales on credit.
- Property, Plant, and Equipment (PP&E)
- PP&E remained relatively consistent throughout the period, fluctuating between approximately US$322 billion and US$356 billion. Net PP&E, after accounting for accumulated depreciation, showed a similar pattern, ranging from US$123 billion to US$131 billion. The consistent investment in PP&E suggests ongoing maintenance and potential expansion of operational capacity.
- Goodwill
- Goodwill experienced a significant reduction from US$133.223 billion in December 2021 to US$63.432 billion by September 2024, remaining relatively stable thereafter. This decrease likely reflects impairment charges related to previous acquisitions, indicating a reassessment of the value of acquired businesses.
- Intangible Assets
- Intangible assets, including licenses and distribution networks, generally increased over the period, from US$135.849 billion in June 2021 to US$133.402 billion by December 2025. Licenses, in particular, demonstrated a consistent upward trend, suggesting continued investment in spectrum and other intangible rights.
- Total Assets
- Total assets peaked at US$577.195 billion in March 2022, followed by a substantial decline to US$402.853 billion by December 2022. A moderate recovery was then observed, with total assets reaching US$420.198 billion by December 2025. This overall trend mirrors the fluctuations in cash, goodwill, and current assets, indicating a significant restructuring of the asset base.
In summary, the asset profile of the entity underwent considerable transformation during the analyzed period. The substantial changes in cash position, the reduction in goodwill, and the shifts in current asset composition suggest strategic adjustments in financial management and potentially a re-evaluation of long-term investments.