Cash Flow Statement
Quarterly Data
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.
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AT&T Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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), 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).
- Income from continuing operations
- The income from continuing operations demonstrated considerable volatility throughout the observed periods. Initially, there was a substantial decline in late 2020 with a sharp loss, followed by recovery phases with fluctuations up to early 2023. The income values showed intermittent drops and rebounds, evidencing instability in profitability, with a notable spike towards the end of 2025.
- Depreciation and amortization
- The depreciation and amortization expenses generally trended downward from early 2020 to early 2022, followed by a gradual increase through 2025. This trend may reflect changes in asset base or amortization schedules over time.
- Amortization of film and television costs
- Available data until 2021 shows considerable fluctuations without a clear trend, indicating variable amortization expenses related to film and television assets during that period.
- Provision for uncollectible accounts
- This provision decreased slightly in early 2021 but subsequently experienced a consistent increase toward the later periods, which may indicate growing concerns over receivables collectability.
- Asset impairments, abandonments and restructuring
- There were significant impairment charges, especially notable in late 2020 and again at the end of 2022. Such spikes suggest episodic non-recurring charges impacting the asset base responsiveness to market or operational challenges.
- Pension and postretirement benefit expense (credit)
- A steady credit was observed over the periods, with a diminishing absolute value, potentially indicating improving pension liabilities or adjustments in postretirement benefit costs.
- Deferred income tax expense
- Deferred income tax expenses were volatile, with notable spikes and reductions occurring at irregular intervals. Notably, an expense peak in late 2021 contrasts with negative values indicative of tax benefits in other quarters.
- Net gain or loss on investments
- Investment-related income was inconsistent, showing both gains and losses across quarters. A substantial loss appears at the end of 2025, indicating a major investment value adjustment.
- Actuarial and settlement gain or loss on pension benefits
- Data is sparse, but large swings are noted in the reported periods around 2020 and 2023, reflecting volatility in actuarial valuations or settlements.
- Working capital components
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- Receivables
- Receivables values were irregular with both positive and negative fluctuations, indicating shifts in customer payments and billing cycles.
- Equipment installment receivables
- These showed considerable volatility, with alternating positive and negative balances suggesting uneven installment sales or collections activity.
- Inventories, prepaid and other current assets
- The data revealed substantial fluctuations, occasionally turning positive after a prolonged negative trend, implying shifting operational inventories or prepayments.
- Accounts payable and accrued liabilities
- Accounts payable and other accrued liabilities oscillated greatly, with periods of net decreases followed by increases, reflecting variability in payment practices or supplier terms.
- Changes in operating assets and liabilities
- Operating asset and liability changes were predominantly negative, reflecting cash outflows associated with working capital increases but showed improvement in specific periods toward late data points.
- Net cash provided by operating activities
- Operating cash flow remained generally positive, though exhibiting fluctuations. Peaks and troughs correlate with income volatility but maintain an overall capacity to generate cash from operations.
- Capital expenditures
- Capital spending was consistently material and somewhat erratic, with a general upward trajectory toward the later periods, indicating ongoing investment in property, plant, and equipment.
- Acquisitions and dispositions
- Acquisitions showed substantial outflows in certain quarters, notably in early 2021, while dispositions were uneven with occasional substantial inflows, reflecting active portfolio management.
- Net cash used in investing activities
- Investing activities resulted in negative net cash flows in most periods, driven largely by capital expenditures and acquisitions, with intermittent positive inflows due to dispositions or investment settlements.
- Financing activities
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- Issuance and repayment of debt
- The company engaged in frequent issuances and repayments of both short-term and long-term debt, indicating active debt management with periods of net borrowing and repayments.
- Stock transactions
- Preferred stock issuance occurred early in the timeline, with redemptions in later periods. Treasury stock purchases showed a general trend of reductions in shares outstanding, while dividends remained relatively consistent albeit with some declines in 2022.
- Net cash from financing activities
- The financing cash flows were volatile, with significant inflows during some quarters offset by substantial outflows in others, reflecting a dynamic approach to capital structure adjustments.
- Overall cash position
- The net increase or decrease in cash and cash equivalents illustrated volatility consistent with underlying cash flows from operations, investing, and financing. Sharp increases in cash were sometimes followed by significant declines, highlighting a fluctuating liquidity profile.