v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 19,048 $ 4,194
Accounts receivable 28,347 27,261
Less Allowance for credit losses 1,250 1,152
Accounts receivable, net 27,097 26,109
Inventories 2,441 2,247
Prepaid expenses and other 8,336 7,973
Total current assets 56,922 40,523
Property, plant and equipment 337,991 331,406
Less Accumulated depreciation 228,524 222,884
Property, plant and equipment, net 109,467 108,522
Investments in unconsolidated businesses 785 842
Wireless licenses 157,039 156,613
Goodwill 22,841 22,841
Other intangible assets, net 10,458 11,129
Operating lease right-of-use assets 23,498 24,472
Other assets 23,248 19,769
Total assets 404,258 384,711
Current liabilities    
Debt maturing within one year 18,618 22,633
Accounts payable and accrued liabilities 24,981 23,374
Current operating lease liabilities 4,542 4,415
Other current liabilities 14,229 14,349
Total current liabilities 62,370 64,771
Long-term debt 139,532 121,381
Employee benefit obligations 11,099 11,997
Deferred income taxes 48,717 46,732
Non-current operating lease liabilities 18,951 19,928
Other liabilities 17,848 19,327
Total long-term liabilities 236,147 219,365
Commitments and Contingencies
Equity    
Series preferred stock ($0.10 par value; 250,000,000 shares authorized; none issued) 0 0
Common stock ($0.10 par value; 6,250,000,000 shares authorized in each period; 4,291,433,646 shares issued in each period) 429 429
Additional paid in capital 13,372 13,466
Retained earnings 94,744 89,110
Accumulated other comprehensive loss (1,727) (923)
Common stock in treasury, at cost (74,258,296 and 81,753,488 shares outstanding) (3,255) (3,583)
Deferred compensation – employee stock ownership plans (ESOPs) and other 897 738
Noncontrolling interests 1,281 1,338
Total equity 105,741 100,575
Total liabilities and equity $ 404,258 $ 384,711