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AT&T Inc. (T)

Analysis of Solvency Ratios
Quarterly Data

Difficulty: Beginner

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Solvency Ratios (Summary)
Debt to Equity
Debt to Equity (including Operating Lease Liability)
Debt to Capital
Debt to Capital (including Operating Lease Liability)
Debt to Assets
Debt to Assets (including Operating Lease Liability)
Financial Leverage
Interest Coverage

Solvency Ratios (Summary)

AT&T Inc., solvency ratios (quarterly data)

		Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Debt Ratios
	Debt to equity
	Debt to equity (including operating lease liability)
	Debt to capital
	Debt to capital (including operating lease liability)
	Debt to assets
	Debt to assets (including operating lease liability)
	Financial leverage
	Coverage Ratios
	Interest coverage

Based on: 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-10), 10-Q (filing date: 2014-08-01), 10-Q (filing date: 2014-05-02).

Solvency ratio	Description	The company
Debt to equity ratio	A solvency ratio calculated as total debt divided by total shareholders’ equity.
Debt to equity (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.
Debt to capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.
Debt to capital (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity.
Debt to assets ratio	A solvency ratio calculated as total debt divided by total assets.
Debt to assets (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total assets.
Financial leverage ratio	A solvency ratio calculated as total assets divided by total shareholders’ equity.	AT&T Inc.’s financial leverage ratio increased from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

Solvency ratio	Description	The company
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.

Debt to Equity

AT&T Inc., debt to equity calculation (quarterly data)

		Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Debt maturing within one year
	Long-term debt, excluding maturing within one year
	Total debt

	Stockholders’ equity attributable to AT&T
	Solvency Ratio
	Debt to equity¹
	Benchmarks
	Debt to Equity, Competitors²
	Verizon Communications Inc.

Based on: 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-10), 10-Q (filing date: 2014-08-01), 10-Q (filing date: 2014-05-02).

¹ Q2 2019 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity attributable to AT&T
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to equity ratio	A solvency ratio calculated as total debt divided by total shareholders’ equity.

Debt to Equity (including Operating Lease Liability)

AT&T Inc., debt to equity (including operating lease liability) calculation (quarterly data)

		Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Debt maturing within one year
	Long-term debt, excluding maturing within one year
	Total debt
	Operating lease liabilities
	Total debt (including operating lease liability)

	Stockholders’ equity attributable to AT&T
	Solvency Ratio
	Debt to equity (including operating lease liability)¹
	Benchmarks
	Debt to Equity (including Operating Lease Liability), Competitors²
	Verizon Communications Inc.

Based on: 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-10), 10-Q (filing date: 2014-08-01), 10-Q (filing date: 2014-05-02).

¹ Q2 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity attributable to AT&T
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to equity (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.

Debt to Capital

AT&T Inc., debt to capital calculation (quarterly data)

		Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Debt maturing within one year
	Long-term debt, excluding maturing within one year
	Total debt
	Stockholders’ equity attributable to AT&T
	Total capital
	Solvency Ratio
	Debt to capital¹
	Benchmarks
	Debt to Capital, Competitors²
	Verizon Communications Inc.

Based on: 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-10), 10-Q (filing date: 2014-08-01), 10-Q (filing date: 2014-05-02).

¹ Q2 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.

Debt to Capital (including Operating Lease Liability)

AT&T Inc., debt to capital (including operating lease liability) calculation (quarterly data)

		Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Debt maturing within one year
	Long-term debt, excluding maturing within one year
	Total debt
	Operating lease liabilities
	Total debt (including operating lease liability)
	Stockholders’ equity attributable to AT&T
	Total capital (including operating lease liability)
	Solvency Ratio
	Debt to capital (including operating lease liability)¹
	Benchmarks
	Debt to Capital (including Operating Lease Liability), Competitors²
	Verizon Communications Inc.

Based on: 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-10), 10-Q (filing date: 2014-08-01), 10-Q (filing date: 2014-05-02).

¹ Q2 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to capital (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity.

Debt to Assets

AT&T Inc., debt to assets calculation (quarterly data)

		Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Debt maturing within one year
	Long-term debt, excluding maturing within one year
	Total debt

	Total assets
	Solvency Ratio
	Debt to assets¹
	Benchmarks
	Debt to Assets, Competitors²
	Verizon Communications Inc.

Based on: 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-10), 10-Q (filing date: 2014-08-01), 10-Q (filing date: 2014-05-02).

¹ Q2 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to assets ratio	A solvency ratio calculated as total debt divided by total assets.

Debt to Assets (including Operating Lease Liability)

AT&T Inc., debt to assets (including operating lease liability) calculation (quarterly data)

		Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Debt maturing within one year
	Long-term debt, excluding maturing within one year
	Total debt
	Operating lease liabilities
	Total debt (including operating lease liability)

	Total assets
	Solvency Ratio
	Debt to assets (including operating lease liability)¹
	Benchmarks
	Debt to Assets (including Operating Lease Liability), Competitors²
	Verizon Communications Inc.

Based on: 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-10), 10-Q (filing date: 2014-08-01), 10-Q (filing date: 2014-05-02).

¹ Q2 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to assets (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total assets.

Financial Leverage

AT&T Inc., financial leverage calculation (quarterly data)

		Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Total assets
	Stockholders’ equity attributable to AT&T
	Solvency Ratio
	Financial leverage¹
	Benchmarks
	Financial Leverage, Competitors²
	Verizon Communications Inc.

Based on: 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-10), 10-Q (filing date: 2014-08-01), 10-Q (filing date: 2014-05-02).

¹ Q2 2019 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity attributable to AT&T
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Financial leverage ratio	A solvency ratio calculated as total assets divided by total shareholders’ equity.	AT&T Inc.’s financial leverage ratio increased from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

Interest Coverage

AT&T Inc., interest coverage calculation (quarterly data)

		Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Net income attributable to AT&T
	Add: Net income attributable to noncontrolling interest
	Add: Income tax expense
	Add: Interest expense
	Earnings before interest and tax (EBIT)
	Solvency Ratio
	Interest coverage¹
	Benchmarks
	Interest Coverage, Competitors²
	Verizon Communications Inc.

Based on: 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-10), 10-Q (filing date: 2014-08-01), 10-Q (filing date: 2014-05-02).

¹ Q2 2019 Calculation
Interest coverage = (EBIT_{Q2 2019} + EBIT_{Q1 2019} + EBIT_{Q4 2018} + EBIT_{Q3 2018}) ÷ (Interest expense_{Q2 2019} + Interest expense_{Q1 2019} + Interest expense_{Q4 2018} + Interest expense_{Q3 2018})
= ( hidden + hidden + hidden + hidden ) ÷ ( hidden + hidden + hidden + hidden ) = hidden

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.

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