Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

Microsoft Excel
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
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: 2026-06-30), 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).

A significant structural shift in the balance sheet occurred between March 2022 and June 2022, characterized by a substantial contraction in both total liabilities and total stockholders' equity. Total liabilities decreased from 390,639 million USD to 291,126 million USD during this period, while total stockholders' equity fell from 186,556 million USD to 135,307 million USD. Following this volatility, the balance sheet entered a phase of relative stabilization with a gradual recovery in equity and a modest increase in total liabilities and equity, reaching 428,359 million USD by June 2026.

Debt and Liability Profile
A sharp reduction in total debt was observed in mid-2022. Long-term debt, excluding the portion maturing within one year, dropped from 180,225 million USD in March 2022 to 129,747 million USD in June 2022, subsequently stabilizing between 117,000 million USD and 134,000 million USD. Short-term debt maturing within one year followed a similar trajectory, peaking at 27,333 million USD in March 2022 before declining sharply and fluctuating between 2,637 million USD and 15,268 million USD through 2026.
Current liabilities exhibited a downward trend from a peak of 85,588 million USD in December 2021 to a range of 40,000 million USD to 53,000 million USD in the later periods. This was driven primarily by a reduction in accounts payable and accrued liabilities, which decreased from approximately 50,661 million USD in December 2021 to 38,049 million USD by June 2026.
Noncurrent liabilities remained relatively consistent after the 2022 adjustment, with deferred credits and other noncurrent liabilities hovering around 110,000 million USD and noncurrent deferred tax liabilities remaining stable near 59,000 million USD.
Stockholders' Equity and Capital Structure
The most notable trend in equity is the recovery of retained earnings. A severe deficit was recorded in December 2022, reaching negative 19,415 million USD. However, a consistent upward trend followed, with the deficit narrowing until retained earnings returned to positive territory in December 2024 and grew to 20,293 million USD by June 2026.
Additional paid-in capital showed a steady decline over the analyzed period, falling from 129,856 million USD in March 2021 to 106,161 million USD by June 2026. Concurrently, treasury stock increased from 17,342 million USD to 22,446 million USD, indicating a sustained program of share repurchases.
Total stockholders' equity, after the sharp decline in 2022, demonstrated a gradual recovery, increasing from a low of 106,457 million USD in December 2022 to 126,434 million USD by June 2026.

The financial trajectory indicates a period of significant deleveraging and balance sheet restructuring in 2022, followed by a multi-year recovery phase. The reversal of the retained earnings deficit and the stabilization of long-term debt suggest a transition toward a more sustainable capital structure and improved earnings retention.