Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

AT&T Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Income (loss) from continuing operations	12,253)	15,623)	(6,874)	21,479)	(3,821)
Depreciation and amortization	20,580)	18,777)	18,021)	22,862)	28,516)
Amortization of film and television costs	—)	—)	—)	11,006)	8,603)
Distributed (undistributed) earnings from investments in equity affiliates	—)	—)	—)	184)	38)
Provision for uncollectible accounts	1,969)	1,969)	1,865)	1,240)	1,972)
Deferred income tax expense	1,570)	3,037)	2,975)	5,246)	1,675)
Net (gain) loss on investments, net of impairments	80)	441)	381)	(927)	(742)
Pension and postretirement benefit expense (credit)	(1,883)	(2,552)	(3,237)	(3,848)	(2,992)
Actuarial and settlement (gain) loss on pension and postretirement benefits, net	56)	1,594)	(1,999)	(4,140)	4,169)
Asset impairments and abandonments and restructuring	5,075)	1,193)	27,498)	4,904)	18,880)
Receivables	123)	82)	727)	(634)	2,216)
Inventories, prepaid and other current assets	(383)	(642)	(674)	(16,472)	(13,070)
Accounts payable and other accrued liabilities	(810)	(1,764)	(1,109)	1,636)	(1,410)
Equipment installment receivables and related sales	(1,846)	(133)	154)	(265)	(1,429)
Deferred customer contract acquisition and fulfillment costs	497)	1)	(947)	52)	376)
Changes in operating assets and liabilities	(2,419)	(2,456)	(1,849)	(15,683)	(13,317)
Postretirement claims and contributions	(166)	(735)	(823)	(822)	(985)
Other, net	1,656)	1,423)	(146)	456)	1,134)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities	26,518)	22,691)	42,686)	20,478)	46,951)
Net cash provided by operating activities	38,771)	38,314)	35,812)	41,957)	43,130)
Capital expenditures	(20,263)	(17,853)	(19,626)	(16,527)	(15,675)
Acquisitions, net of cash acquired	(380)	(2,942)	(10,200)	(25,453)	(1,851)
Dispositions	75)	72)	199)	8,740)	3,641)
Distributions from DIRECTV in excess of cumulative equity in earnings	928)	2,049)	2,649)	1,323)	—)
(Purchases), sales and settlements of securities and investments, net	2,575)	(902)	82)	—)	—)
Other, net	(425)	(84)	(3)	(172)	337)
Net cash used in investing activities	(17,490)	(19,660)	(26,899)	(32,089)	(13,548)
Net change in short-term borrowings with original maturities of three months or less	—)	(914)	(519)	1,316)	(17)
Issuance of other short-term borrowings	491)	5,406)	3,955)	21,856)	9,440)
Repayment of other short-term borrowings	(2,487)	(3,415)	(18,345)	(7,510)	(9,467)
Issuance of long-term debt	19)	10,004)	2,979)	9,931)	31,988)
Repayment of long-term debt	(10,297)	(12,044)	(25,118)	(3,142)	(39,964)
Note payable to DIRECTV, net of payments	—)	(130)	(1,211)	1,341)	—)
Payment of vendor financing	(1,792)	(5,742)	(4,697)	(4,596)	(2,966)
Issuance of preferred stock	—)	—)	—)	—)	3,869)
Purchase of treasury stock	(215)	(194)	(890)	(202)	(5,498)
Issuance of treasury stock	15)	3)	28)	96)	105)
Issuance of preferred interests in subsidiaries	—)	7,151)	—)	—)	1,979)
Redemption of preferred interests in subsidiary	—)	(5,333)	(2,665)	—)	(1,950)
Dividends paid	(8,208)	(8,136)	(9,859)	(15,068)	(14,956)
Other, net	(2,234)	(2,270)	(3,222)	(2,444)	(4,570)
Net cash provided by (used in) financing activities	(24,708)	(15,614)	(59,564)	1,578)	(32,007)
Cash used in operating activities	—)	—)	(3,789)	—)	—)
Cash provided by investing activities	—)	—)	1,094)	—)	—)
Cash provided by financing activities	—)	—)	35,823)	—)	—)
Net increase in cash and cash equivalents and restricted cash from discontinued operations	—)	—)	33,128)	—)	—)
Net increase (decrease) in cash and cash equivalents and restricted cash	(3,427)	3,040)	(17,523)	11,446)	(2,425)
Cash and cash equivalents and restricted cash beginning of year	6,833)	3,793)	21,316)	9,870)	12,295)
Cash and cash equivalents and restricted cash end of year	3,406)	6,833)	3,793)	21,316)	9,870)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	AT&T Inc. net cash provided by operating activities increased from 2022 to 2023 and from 2023 to 2024.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	AT&T Inc. net cash used in investing activities increased from 2022 to 2023 and from 2023 to 2024.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	AT&T Inc. net cash provided by (used in) financing activities increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

AT&T Inc. (NYSE:T)

Cash Flow Statement