Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

AT&T Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Income (loss) from continuing operations	15,623)	(6,874)	21,479)	(3,821)	14,975)
Depreciation and amortization	18,777)	18,021)	22,862)	28,516)	28,217)
Amortization of film and television costs	—)	—)	11,006)	8,603)	9,587)
Distributed (undistributed) earnings from investments in equity affiliates	—)	—)	184)	38)	295)
Provision for uncollectible accounts	1,969)	1,865)	1,240)	1,972)	2,575)
Deferred income tax expense	3,037)	2,975)	5,246)	1,675)	1,806)
Net (gain) loss on investments, net of impairments	441)	381)	(927)	(742)	(1,218)
Pension and postretirement benefit expense (credit)	(2,552)	(3,237)	(3,848)	(2,992)	(2,002)
Actuarial and settlement (gain) loss on pension and postretirement benefits, net	1,594)	(1,999)	(4,140)	4,169)	5,171)
Asset impairments and abandonments and restructuring	1,193)	27,498)	4,904)	18,880)	1,458)
Receivables	82)	727)	(634)	2,216)	2,812)
Other current assets	(642)	(674)	(16,472)	(13,070)	(12,852)
Accounts payable and other accrued liabilities	(1,764)	(1,109)	1,636)	(1,410)	(1,524)
Equipment installment receivables and related sales	(133)	154)	(265)	(1,429)	548)
Deferred customer contract acquisition and fulfillment costs	1)	(947)	52)	376)	(910)
Changes in operating assets and liabilities	(2,456)	(1,849)	(15,683)	(13,317)	(11,926)
Postretirement claims and contributions	(735)	(823)	(822)	(985)	(1,008)
Other, net	1,423)	(146)	456)	1,134)	738)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities	22,691)	42,686)	20,478)	46,951)	33,693)
Net cash provided by operating activities	38,314)	35,812)	41,957)	43,130)	48,668)
Capital expenditures	(17,853)	(19,626)	(16,527)	(15,675)	(19,635)
Acquisitions, net of cash acquired	(2,942)	(10,200)	(25,453)	(1,851)	(1,809)
Dispositions	72)	199)	8,740)	3,641)	4,684)
Distributions from DIRECTV in excess of cumulative equity in earnings	2,049)	2,649)	1,323)	—)	—)
(Purchases), sales and settlements of securities and investments, net	(902)	82)	—)	—)	—)
Other, net	(84)	(3)	(172)	337)	70)
Net cash used in investing activities	(19,660)	(26,899)	(32,089)	(13,548)	(16,690)
Net change in short-term borrowings with original maturities of three months or less	(914)	(519)	1,316)	(17)	(276)
Issuance of other short-term borrowings	5,406)	3,955)	21,856)	9,440)	4,012)
Repayment of other short-term borrowings	(3,415)	(18,345)	(7,510)	(9,467)	(6,904)
Issuance of long-term debt	10,004)	2,979)	9,931)	31,988)	17,039)
Repayment of long-term debt	(12,044)	(25,118)	(3,142)	(39,964)	(27,592)
Note payable to DIRECTV, net of payments	(130)	(1,211)	1,341)	—)	—)
Payment of vendor financing	(5,742)	(4,697)	(4,596)	(2,966)	(3,050)
Issuance of preferred stock	—)	—)	—)	3,869)	1,164)
Purchase of treasury stock	(194)	(890)	(202)	(5,498)	(2,417)
Issuance of treasury stock	3)	28)	96)	105)	631)
Issuance of preferred interests in subsidiaries	7,151)	—)	—)	1,979)	7,876)
Redemption of preferred interest in subsidiary	(5,333)	(2,665)	—)	(1,950)	—)
Dividends paid	(8,136)	(9,859)	(15,068)	(14,956)	(14,888)
Other, net	(2,270)	(3,222)	(2,444)	(4,570)	(678)
Net cash provided by (used in) financing activities	(15,614)	(59,564)	1,578)	(32,007)	(25,083)
Cash used in operating activities	—)	(3,789)	—)	—)	—)
Cash provided by investing activities	—)	1,094)	—)	—)	—)
Cash provided by financing activities	—)	35,823)	—)	—)	—)
Net increase in cash and cash equivalents and restricted cash from discontinued operations	—)	33,128)	—)	—)	—)
Net increase (decrease) in cash and cash equivalents and restricted cash	3,040)	(17,523)	11,446)	(2,425)	6,895)
Cash and cash equivalents and restricted cash beginning of year	3,793)	21,316)	9,870)	12,295)	5,400)
Cash and cash equivalents and restricted cash end of year	6,833)	3,793)	21,316)	9,870)	12,295)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	AT&T Inc. net cash provided by operating activities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	AT&T Inc. net cash used in investing activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	AT&T Inc. net cash provided by (used in) financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

AT&T Inc. (NYSE:T)

Cash Flow Statement