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, 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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
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: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Liquidity and Current Liabilities
Current liabilities exhibited notable volatility across the observed periods, with a peak near the end of 2021 and a marked decline throughout 2022. After bottoming out in mid-2022, current liabilities started to moderately increase again toward the end of the timeline. Debt maturing within one year showed fluctuating levels, initially decreasing significantly in 2020 but later rising sharply in early 2021 before stabilizing with a downward trend into 2024. Notably, accounts payable and accrued liabilities followed a similar pattern, with declines in 2022 followed by modest recovery in subsequent periods. Advanced billings and customer deposits also decreased sharply entering 2022 but remained relatively stable afterward.
Long-Term Obligations
Long-term debt, excluding amounts maturing within one year, peaked in early 2022 before declining steadily through to the end of 2025. Noncurrent liabilities overall saw a substantial drop in 2022, reflecting reduced debt levels and other obligations, and then remained relatively stable at this lower level through 2025. Noncurrent deferred tax liabilities held mostly steady, with minor fluctuations, indicating consistent deferred tax positions throughout the period. Postemployment benefit obligations reduced substantially from 2020 into 2022, then experienced variability with a minor increase toward 2025. Noncurrent operating lease liabilities and other noncurrent liabilities demonstrated gradual decreases or stability, suggesting controlled long-term operating commitments.
Total Liabilities
Total liabilities peaked around early 2022 and then declined sharply, largely driven by reductions in both current and long-term liabilities. This decline stabilized as total liabilities held flat or modestly fluctuated in later quarters. The sizeable decline in liabilities during 2022 was a key inflection point after relatively stable and high liability levels from 2020 through 2021.
Stockholders’ Equity
Stockholders' equity attributable to the company contracted significantly during 2022, with values nearly halving relative to earlier years, likely driven by a combination of lower retained earnings and other comprehensive income changes. However, from late 2022 onward, equity balances recovered steadily, surpassing pre-decline levels by early 2024 and maintaining moderate growth. Retained earnings showed a dramatic decrease into late 2022, reflecting negative operating outcomes or accounting adjustments, before gradually improving into 2025. The treasury stock balance steadily decreased in absolute value, suggesting some stock repurchase or accounting adjustment activity. Accumulated other comprehensive income (loss) fluctuated notably, with positive values early on transitioning to a loss by early 2025, indicating volatile unrealized gains/losses or foreign currency effects.
Capital Structure and Other Equity Items
Additional paid-in capital declined progressively from 2021 through 2025, indicating potential share buybacks or equity adjustments. Common stock par value remained constant, reflecting no new issuance or cancellations. Redeemable noncontrolling interests appeared starting late 2021 with stable incremental increases, indicating new or ongoing interests held by outside parties. Total stockholders’ equity moved in line with the attributable equity plus noncontrolling interests, reflecting overall firm capitalization trends.
Overall Financial Position
The total of liabilities and stockholders’ equity increased through 2021, peaked in early 2022, and then sharply declined during 2022, consistent with the liability and equity trends noted. After 2022, total capitalization remained relatively flat with slight recoveries through 2025. The data suggest a period of restructuring or significant financial adjustment in 2022, leading to reduced leverage and a rebound in equity strength through subsequent periods.