AT&T (T) Balance Sheet: Assets & Liabilities

AT&T (T) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), AT&T reported total assets of $420.20B and total liabilities of $291.71B. Shareholders' equity was $110.53B, up 5.9% from $104.37B a year earlier. Total debt stood at $173.99B against $18.23B in cash and short-term investments, a net debt position of $155.75B. That puts debt-to-equity at 1.57, compared with 1.18 a year earlier.

AT&T Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for AT&T Inc. (T) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	18.23	3.30	6.72	3.70	19.22	9.74	12.13	5.20	50.50
Cash & Short-Term Investments	18.23	3.30	6.72	3.70	19.22	9.74	12.13	5.20	50.50
Accounts Receivable	8.84	9.64	10.29	11.47	12.31	20.22	22.64	26.47	16.52
Inventory	2.42	2.27	2.18	3.12	3.33	3.70	0.00	0.00	0.00
Other Current Assets	19.24	15.96	17.27	14.82	135.91	18.36	20.00	19.75	12.13
Total Current Assets	48.73	31.17	36.46	33.11	170.77	52.01	54.76	51.43	79.15
Non-Current Assets
Property, Plant & Equipment (Net)	154.20	149.78	149.39	149.26	143.47	152.03	154.17	131.47	125.22
Long-Term Investments	1.11	0.30	1.25	3.53	6.17	1.78	3.70	6.25	1.56
Goodwill	63.43	63.43	67.85	67.90	92.74	135.26	146.24	146.37	105.45
Intangible Assets	5.25	132.29	132.50	129.45	119.22	146.32	157.62	163.83	114.28
Other Non-Current Assets	147.48	17.83	19.60	19.61	19.25	38.37	35.19	32.52	18.44
Total Non-Current Assets	371.47	363.63	370.60	369.75	380.85	473.75	496.91	480.44	364.95
Total Assets	420.20	394.80	407.06	402.85	551.62	525.76	551.67	531.86	444.10
Current Liabilities
Accounts Payable	38.51	27.43	27.31	42.64	29.51	31.84	29.64	27.02	24.44
Short-Term Debt	9.01	5.09	9.48	0.13	25.87	3.66	11.84	10.26	38.37
Current Portion of Long-Term Debt	9.01	5.09	9.48	7.47	24.62	-	-	-	-
Accrued Liabilities	5.00	4.04	3.89	4.94	5.75	-	-	-	-
Deferred Revenue	4.27	4.10	3.78	3.92	3.97	6.18	6.12	5.95	4.21
Other Current Liabilities	1.99	2.03	9.54	2.01	45.74	20.75	20.10	20.02	13.10
Total Current Liabilities	53.78	46.87	51.13	56.17	106.23	63.44	68.91	64.42	81.39
Non-Current Liabilities
Long-Term Debt	164.98	118.44	127.85	128.42	169.97	175.98	173.11	166.25	125.97
Deferred Tax Liabilities	58.31	58.94	58.67	57.03	53.77	60.47	59.50	57.86	43.21
Other Non-Current Liabilities	14.64	23.90	23.70	93.14	37.80	46.63	48.21	49.45	51.52
Total Non-Current Liabilities	237.93	227.70	236.52	240.22	261.54	283.08	280.82	273.56	220.70
Total Liabilities	291.71	274.57	287.65	296.40	367.77	346.52	349.74	337.98	302.09
Stockholders' Equity
Common Stock	7.62	7.62	7.62	7.62	7.62	7.62	7.62	7.62	6.50
Retained Earnings	15.77	1.87	-5.02	-19.42	42.35	37.46	57.94	58.75	50.50
Accumulated Other Comprehensive Income	-0.86	0.80	2.30	2.77	3.53	4.33	5.47	4.25	7.02
Treasury Stock	18.53	15.02	16.13	17.08	-	-	-	-	-
Additional Paid-in Capital	88.00	109.11	114.52	123.61	112.83	112.27	113.19	113.47	76.85
Minority Interest	17.96	15.85	16.12	8.96	17.52	17.57	17.71	9.80	1.15
Shares Outstanding	6.88	7.18	7.15	7.13	-	-	-	-	-
Total Stockholders' Equity	110.53	104.37	103.30	106.46	166.33	161.67	184.22	184.09	140.86
Total Liabilities & Equity	420.20	394.80	407.06	402.85	551.62	525.76	551.67	531.86	444.10

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2026. Data sources and methodology

Frequently Asked Questions About AT&T Balance Sheet

How much debt does AT&T have?

AT&T had total debt of $173.99B as of Dec 31, 2025, against $18.23B in cash and short-term investments. Its debt-to-equity ratio was 1.57. Total debt was $123.53B a year earlier.

What are AT&T's total assets?

AT&T reported total assets of $420.20B as of Dec 31, 2025, up 6.4% from $394.80B a year earlier. Total liabilities were $291.71B.

What is AT&T's shareholders' equity?

AT&T's shareholders' equity was $110.53B as of Dec 31, 2025, or about $16.07 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition