v3.25.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Summary of Long-Term Debt of AT&T and its Subsidiaries
Long-term debt of AT&T and its subsidiaries, including interest rates and maturities, is summarized as follows at December 31:
20252024
Notes and debentures
Interest Rates1
Maturities
0.00%
–
2.99%2025–2033$22,240 $21,860 
3.00%
–
4.99%2025–206189,379 83,725 
5.00%
–
6.99%2025–209529,165 22,679 
7.00%
–
8.75%2025–20973,524 3,565 
Fair value of interest rate swaps recorded in debt3 6 
144,311 131,835 
Unamortized (discount) premium – net(9,193)(9,340)
Unamortized issuance costs(400)(379)
Total notes and debentures134,718 122,116 
Finance lease obligations1,382 1,416 
Total long-term debt, including current maturities136,100 123,532 
Current maturities of long-term debt(9,011)(5,089)
Total long-term debt$127,089 $118,443 
1Foreign debt includes the impact from hedges, when applicable.
Schedule of Debt Activity Our debt activity during 2025 primarily consisted of the following:
First
Quarter		Second
Quarter		Third
Quarter		Fourth
Quarter
Full Year 2025
Issuance of notes and debentures:
USD notes
$— $3,473 $4,959 $— $8,432 
EUR notes
2,956 — 2,639 — 5,595 
Debt issuances
$2,956 $3,473 $7,598 $— $14,027 
Repayments:
USD notes
$— $— $— $(145)$(145)
EUR notes
(1,321)(32)— (2,441)(3,794)
CAD notes— — — (960)(960)
Other(205)(62)(229)(133)(629)
Repayments of long-term debt$(1,526)$(94)$(229)$(3,679)$(5,528)
Long-Term Debt - Scheduled Repayments Maturities of outstanding long-term notes and debentures, as of December 31, 2025, and the corresponding weighted-average interest rate scheduled for repayment are as follows:

20262027202820292030Thereafter
Debt repayments1,2
$8,652 $8,953 $6,905 $6,918 $7,020 $106,216 
Weighted-average interest rate 2
3.1%3.8%3.2%4.6%4.3%4.3%
1Debt repayments represent maturity value. Foreign debt includes the impact from hedges, when applicable.
2Includes credit agreement borrowings.