v3.25.4
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities      
Net income $ 23,386 $ 12,253 $ 15,623
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 20,886 20,580 18,777
Provision for uncollectible accounts 2,271 1,969 1,969
Asset impairments and abandonments and restructuring 838 5,075 1,193
Pension and postretirement benefit expense (credit) (1,588) (1,883) (2,552)
Actuarial and settlement (gain) loss on pension and postretirement benefits – net 519 56 1,594
Net (gain) loss on investments (5,889) 80 441
Changes in operating assets and liabilities:      
Receivables (1,526) 123 82
Equipment installment receivables and related sales 324 (1,846) (133)
Contract asset and cost deferral (1,208) 160 (1,006)
Inventories, prepaid and other current assets (460) 70 747
Accounts payable and other accrued liabilities 884 (1,104) (1,574)
Changes in income taxes 2,226 1,978 2,618
Postretirement claims and contributions (1,436) (166) (735)
Other – net 1,057 1,426 1,270
Total adjustments 16,898 26,518 22,691
Net Cash Provided by Operating Activities 40,284 38,771 38,314
Investing Activities      
Capital expenditures (20,842) (20,263) (17,853)
Acquisitions, net of cash acquired (379) (380) (2,942)
Dispositions 3,218 75 72
Distributions from DIRECTV in excess of cumulative equity in earnings 0 928 2,049
(Purchases), sales and settlement of securities and investments, net 181 2,575 (902)
Other – net (955) (425) (84)
Net Cash Used in Investing Activities (18,777) (17,490) (19,660)
Financing Activities      
Net change in short-term borrowings with original maturities of three months or less 0 0 (914)
Issuance of other short-term borrowings 0 491 5,406
Repayment of other short-term borrowings 0 (2,487) (3,415)
Proceeds from Issuance of Long-Term Debt 14,027 19 10,004
Repayment of long-term debt (5,528) (10,297) (12,044)
Note payable to DIRECTV, net of payments 0 0 (130)
Payment of vendor financing (1,181) (1,792) (5,742)
Redemption of preferred stock (2,075) 0 0
Purchase of treasury stock (4,500) (215) (194)
Issuance of treasury stock 21 15 3
Issuance of preferred interests in subsidiary 2,221 0 7,151
Redemption of preferred interests in subsidiary (65) 0 (5,333)
Dividends paid (8,180) (8,208) (8,136)
Other – net (1,126) (2,234) (2,270)
Net Cash Used in Financing Activities (6,386) (24,708) (15,614)
Cash Provided by (Used in) Discontinued Operation [Abstract]      
Net increase (decrease) in cash and cash equivalents and restricted cash 15,121 (3,427) 3,040
Cash and cash equivalents and restricted cash beginning of year 3,406 6,833 3,793
Cash and Cash Equivalents and Restricted Cash End of Year $ 18,527 $ 3,406 $ 6,833