Income StatementBalance SheetCash FlowSegments
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AT&T Cash Flow Statement

Operating, investing, and financing cash movements

AT&T generated $38.8B in operating cash flow over the trailing twelve months. After $21.4B in capital expenditures, free cash flow was $17.4B. Free cash flow decreased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$38.8BNet Cash From Investing (TTM)-$21.3BNet Cash From Financing (TTM)-$5.8BCapital Expenditures (TTM)$21.4BDepreciation And Amortization Cf (TTM)$20.7BNet Change In Cash (TTM)$4.2B
Latest FilingQ1 2026
Report Date2026-04-27
Market Cap$175.52B
P/E Ratio8.19

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$58.0M$20.0M$28.0M$0.0$332.0M$2.7B
Capital expenditures$6.8B$4.3B$4.9B$4.9B$6.8B$4.9B
Net cash used for investing activities from discontinued operations$0.0$0.0———-$4.2B
Payment for (Proceeds from) Other Investing Activity—$717.0M$61.0M$11.0M$166.0M$547.0M
Proceeds From Divestiture Of Businesses And Interests In Affiliates$9.0M$11.0M$29.0M$399.0M$2.8B$628.0M
Investments in unconsolidated affiliates-$1.4B-$45.0M$1.1B-$1.1B-$156.0M$14.0M
Net cash from investing activities-$5.4B-$5.0B-$6.1B-$3.4B-$4.3B-$7.5B
Other investing activities—$717.0M$61.0M$11.0M$166.0M$547.0M
Net Payments for or Proceeds from Investments-$1.4B-$45.0M$1.1B-$1.1B-$156.0M$14.0M
Proceeds from sale of businesses$9.0M$11.0M$29.0M$399.0M$2.8B$628.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in Pension and Postretirement Obligations-$471.0M-$397.0M-$397.0M-$397.0M-$397.0M-$396.0M
Change in pension and postretirement obligations-$471.0M-$397.0M-$397.0M-$397.0M-$397.0M-$396.0M
Change in accrued liabilities—-$3.3B-$1.1B$2.4B$2.9B-$2.8B
Change in income taxes payable/receivable—$1.3B$378.0M$946.0M—$1.1B
Change in other assets-$728.0M$661.0M—$1.6B—$173.0M
Other working capital changes-$472.0M-$124.0M-$606.0M-$317.0M-$10.0M-$277.0M
Change in receivables—-$15.0M$262.0M$366.0M$913.0M$119.0M
Benefit from Receivables$538.0M$516.0M$521.0M$555.0M$679.0M$560.0M
Depreciation and amortization$5.4B$5.2B$5.3B$5.3B$5.1B$5.0B
Net gains (losses) on investments—-$81.0M$112.0M$5.7B$167.0M-$28.0M
Impairment charges$14.0M$504.0M$0.0$0.0$334.0M$0.0
Other operating reconciliation adjustments$7.5B$4.4B$4.9B$475.0M$7.2B$3.4B
Net cash from operating activities$11.9B$9.0B$9.8B$10.2B$11.3B$7.6B
Net cash provided by operating activities from discontinued operations$0.0$0.0———-$38.0M
Gain (Loss) on Investments—-$81.0M$112.0M$5.7B$167.0M-$28.0M
Asset impairments and abandonments and restructuring$14.0M$504.0M$0.0$0.0$334.0M$0.0
Increase (Decrease) in Net Operating Assets Equip Installment Receivables and Related Asset Sales$947.0M-$1.2B———-$255.0M
Increase (Decrease) In Operating Assets Deferred Fulfillment Costs—$147.0M$152.0M$183.0M$726.0M$327.0M
Other current liabilities—-$3.3B-$1.1B$2.4B$2.9B-$2.8B
Increase (Decrease) in Other Operating Assets-$728.0M$661.0M—$1.6B—$173.0M
Pension and other postretirement plans-$471.0M-$397.0M-$397.0M-$397.0M-$397.0M-$396.0M
Accounts Receivable, Credit Loss Expense (Reversal)$538.0M$516.0M$521.0M$555.0M$679.0M$560.0M
Pension and postretirement benefit expense-$471.0M-$397.0M-$397.0M-$397.0M-$397.0M-$396.0M
Pension contributions$37.0M$68.0M$35.0M$490.0M$843.0M$72.0M
Provision for credit losses$538.0M$516.0M$521.0M$555.0M$679.0M$560.0M
Adjustments to Reconcile Net Income to Operating Cash Flow$7.5B$4.4B$4.9B$475.0M$7.2B$3.4B
Deferred Customer Contract Acquisition and Fulfillment Costs—$147.0M$152.0M$183.0M$726.0M$327.0M
Equipment Installment Receivables and Related Sales$947.0M-$1.2B———-$255.0M
Pension and Postretirement Benefit Adjustment$37.0M$68.0M$35.0M$490.0M$843.0M$72.0M
Change in Pension and Postretirement Obligations-$471.0M-$397.0M-$397.0M-$397.0M-$397.0M-$396.0M
Change in pension and postretirement obligations-$471.0M-$397.0M-$397.0M-$397.0M-$397.0M-$396.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net cash from discontinued operations$0.0$0.0———-$4.2B
Cash from operating activities — discontinued operations$0.0$0.0———-$38.0M
Change in Cash Classified within Assets Held for Sale—$0.0———-$4.2B
Net increase (decrease) in cash—$3.5B$3.6B$9.8B—-$6.2B
Increase (decrease) in cash, cash equivalents, and restricted cash—$3.5B———-$2.0B
Less: Net increase (decrease) in cash classified within assets held for sale—$0.0———-$4.2B

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from minority shareholders$0.0$2.2B———$0.0
Contributions from noncontrolling interests$0.0$2.2B———$0.0
Proceeds from issuance of debt$15.0M$3.0B$3.5B$7.6B$0.0$8.1B
Repayments of debt$3.2B$1.5B$94.0M$229.0M$3.7B$5.2B
Dividends paid$2.0B$2.1B$2.0B$2.0B$2.0B$2.0B
Cash from (used for) financing activities – discontinued operations$0.0$0.0———$0.0
Cash Provided by (Used in) Financing Activity, Continuing Operation-$6.2B-$553.0M———-$2.1B
Other, net-$426.0M$366.0M-$199.0M-$459.0M-$834.0M-$265.0M
Redemption of preferred stock$0.0-$2.1B———$0.0
Repayments of Long-Term Loans from Vendors$221.0M$203.0M$220.0M$400.0M$358.0M$212.0M
Net Cash from Financing Activities, Continuing Operations-$6.2B-$553.0M———-$2.1B
Net proceeds from sales of subsidiary shares$0.0$2.2B———$0.0
Payment of Deferred Purchase Consideration-$426.0M$366.0M-$199.0M-$459.0M-$834.0M-$265.0M
Noncontrolling interest transactions and other-$426.0M$366.0M-$199.0M-$459.0M-$834.0M-$265.0M
Proceeds from Minority Shareholders$0.0$2.2B———$0.0
Proceeds from Sale of Noncontrolling Interests$0.0$2.2B———$0.0
Net cash from financing activities-$5.9B-$553.0M-$45.0M$3.0B-$8.8B$0.0
Other financing activities-$426.0M$366.0M-$199.0M-$459.0M-$834.0M-$265.0M
Noncontrolling Interests Activity and Other-$426.0M$366.0M-$199.0M-$459.0M-$834.0M-$265.0M
Proceeds from Minority Shareholders$0.0$2.2B———$0.0
Redemption of preferred stock$0.0-$2.1B———$0.0
Proceeds from issuance of common stock$13.0M$17.0M$0.0$2.0M$2.0M$1.0M
Repurchases of common stock$13.0M$218.0M$961.0M$1.5B$1.8B$2.5B
Payment of Vendor Financing$221.0M$203.0M$220.0M$400.0M$358.0M$212.0M
Proceeds from Minority Shareholders$0.0$2.2B———$0.0

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$5.1B$4.8B$4.9B$5.3B$4.5B$2.7B