Assets
Current Assets
Cash and cash equivalents
10,767 17,570 11,964 18,234 20,272 10,499 6,885 3,298 2,586 3,093 3,520 6,722 7,540 9,528 2,821 3,701 2,423 4,018 17,084 19,223
Accounts receivable – net of related allowances for credit loss of $272 and $429
7,992 8,521 8,335 8,843 8,936 8,844 9,228 9,638 9,068 9,686 9,577 10,289 8,962 9,304 10,214 11,466 11,384 11,377 17,218 12,313
Inventories
2,893 2,368 2,451 2,420 2,886 2,357 2,593 2,270 2,529 1,816 2,127 2,177 2,520 2,348 2,791 3,123 3,935 3,241 3,153 3,325
Prepaid and other current assets
19,477 23,375 23,532 19,235 22,485 17,606 15,074 15,962 15,616 15,273 15,221 17,270 16,598 15,492 14,077 14,818 14,553 15,764 17,920 16,131
Disposal Group, Including Discontinued Operation, Assets, Current
0 0 85 119,776
Assets held for sale
11,216 0
Total current assets
52,345 51,834 46,282 48,732 54,579 39,306 33,780 31,168 29,799 29,868 30,445 36,458 35,620 36,672 29,903 33,108 32,295 34,485 76,856 170,768
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Noncurrent Inventories and Theatrical Film and Television Production Costs
19,803 18,983
Property, plant and equipment
349,015 352,703 349,454 347,570 359,091 356,188 351,203 350,914 346,030 342,607 339,115 339,891 337,309 334,206 330,486 329,630 327,903 323,349 323,434 324,613
Less: accumulated depreciation and amortization
(216,861) (218,488) (216,330) (216,011) (229,169) (227,094) (222,750) (222,043) (218,066) (214,835) (211,264) (211,402) (208,813) (205,423) (202,028) (202,185) (200,858) (198,214) (196,275) (202,964)
Property, Plant and Equipment – Net
132,154 134,215 133,124 131,559 129,922 129,094 128,453 128,871 127,964 127,772 127,851 128,489 128,496 128,783 128,458 127,445 127,045 125,135 127,159 121,649
Goodwill – Net
63,865 63,865 63,838 63,425 63,425 63,432 63,432 63,432 63,432 67,854 67,854 67,854 67,854 67,854 67,895 67,895 92,725 92,746 133,247 92,740
Licenses – Net
149,357 129,123 129,144 128,148 127,771 127,543 127,344 127,035 127,134 127,279 127,423 127,219 127,113 125,049 124,502 124,092 123,856 123,557 114,107 113,830
Finite-Lived Intangible Assets - Net
Trademarks and Trade Names – Net
21,781 21,938
Distribution Networks – Net
11,486 11,942
Other Intangible Assets – Net
5,987 6,063 6,135 5,254 5,254 5,255 5,255 5,255 5,256 5,277 5,281 5,283 5,332 5,339 5,346 5,354 5,362 5,371 11,452 5,391
Investments in and Advances to Equity Affiliates
1,173 1,130 1,108 1,106 1,056 1,011 942 295 281 584 891 1,251 1,847 2,779 2,810 3,533 3,964 4,523 5,943 6,168
Operating Lease Right-Of-Use Assets
22,352 22,781 22,756 22,642 22,654 21,494 21,006 20,909 20,779 20,582 20,668 20,905 21,001 21,581 21,619 21,814 21,782 21,808 23,941 21,824
Deposits on Wireless Licenses
9,129 0
Other Assets
18,638 19,348 18,801 19,332 18,552 18,356 17,255 17,830 19,074 18,810 19,015 19,601 19,435 20,396 20,340 19,612 19,434 18,808 22,291 19,252
Total Assets
445,871 428,359 421,188 420,198 423,213 405,491 397,467 394,795 393,719 398,026 399,428 407,060 406,698 408,453 400,873 402,853 426,463 426,433 577,195 551,622
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Liabilities and Stockholders’ Equity
Current Liabilities
Debt maturing within one year
9,483 9,323 6,818 9,011 11,378 9,254 8,902 5,089 2,637 5,249 7,060 9,477 11,302 15,268 13,757 7,467 9,626 6,210 27,333 24,620
Note payable to DIRECTV
0 0 0 3,922 130 3,705 3,603 5,183 3,966
Accounts payable and accrued liabilities
38,335 38,049 37,304 38,514 36,592 33,289 33,113 35,657 31,935 31,173 31,973 35,852 34,659 33,038 38,389 42,644 36,642 36,659 46,845 39,095
Advanced billings and customer deposits
3,909 4,065 4,330 4,266 3,897 3,999 3,951 4,099 4,059 3,981 3,713 3,778 3,703 3,833 3,918
Dividends payable
1,912 1,945 1,969 1,989 2,009 2,023 2,033 2,027 2,027 2,026 2,088 2,020 2,020 2,020 2,082 2,014 2,013 2,013 2,086 3,749
Liabilities held for sale
6,636 0 0 0 85 33,555
Total current liabilities
60,275 53,382 50,421 53,780 53,876 48,565 47,999 46,872 40,658 42,429 44,834 51,127 51,684 54,159 58,150 56,173 52,257 49,189 82,494 106,230
Long-Term Debt
150,144 134,631 131,589 127,089 128,090 123,057 117,259 118,443 126,375 125,355 125,704 127,854 126,701 128,012 123,727 128,423 123,854 129,747 180,225 151,011
Deferred Credits and Other Noncurrent Liabilities
Noncurrent deferred tax liabilities
61,551 60,401 59,113 58,312 59,304 59,786 59,144 58,939 58,461 58,918 58,820 58,666 58,671 57,972 57,294 57,032 56,055 55,301 65,963 53,767
Postemployment benefit obligation
8,100 8,267 8,427 8,478 8,728 9,079 9,040 9,025 8,750 8,744 8,743 8,734 6,494 6,696 7,060 7,260 6,152 9,775 11,294 12,560
Operating lease liabilities
18,520 18,934 18,907 18,943 19,025 17,762 17,433 17,391 17,331 17,174 17,291 17,568 17,730 18,311 18,413 18,659 18,741 18,749 20,917 18,956
Other noncurrent liabilities
22,521 24,305 25,109 25,104 25,451 23,865 24,753 23,900 23,884 24,082 23,441 23,696 25,591 25,258 27,883 28,849 29,426 28,365 29,746 25,243
Noncurrent portion of note payable to DIRECTV
0 96
Total deferred credits and other noncurrent liabilities
110,692 111,907 111,556 110,837 112,508 110,492 110,370 109,255 108,426 108,918 108,295 108,664 108,486 108,237 110,650 111,800 110,374 112,190 127,920 110,526
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Temporary Equity
Temporary Equity, Including Noncontrolling Interest
Redeemable Noncontrolling Interest, Equity, Carrying Amount
Redeemable Noncontrolling Interest
2,006 2,005 2,003 2,001 1,984 1,983 1,981 1,980 1,978 1,977 1,975 1,973 1,972 1,970 0
Stockholders’ Equity
Preferred stock ($1 par value, 10,000,000 authorized at September 30, 2026 and December 31, 2025):
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Common stock ($1 par value, 14,000,000,000 authorized at September 30, 2026 and December 31, 2025: issued 7,620,748,598 at September 30, 2026 and December 31, 2025)
7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621
Additional paid-in capital
106,239 106,161 106,084 106,533 106,461 106,381 106,302 109,108 109,354 111,515 111,599 114,519 116,890 118,833 120,774 123,610 122,933 122,850 129,637 130,112
Retained earnings
19,265 20,293 17,620 15,768 13,974 6,680 4,215 1,871 (185) 2 (1,570) (5,015) (7,203) (10,698) (15,187) (19,415) 6,127 2,128 45,041 42,350
Treasury stock (859,308,786 at September 30, 2026 and 583,246,242 at December 31, 2025, at cost)
(25,268) (22,446) (20,273) (18,529) (16,700) (15,210) (14,252) (15,023) (15,087) (15,268) (15,277) (16,128) (16,150) (16,158) (16,166) (17,082) (17,148) (17,160) (16,553) (17,280)
Accumulated other comprehensive income (loss)
(1,082) (1,185) (1,392) (860) (648) (200) (142) 795 648 1,440 2,167 2,300 2,545 2,305 2,354 2,766 2,873 2,307 3,290 3,529
Noncontrolling interest
15,979 15,990 15,959 15,958 16,047 16,122 16,114 13,873 13,931 14,037 14,080 14,145 14,152 14,172 8,950 8,957 17,572 17,561 17,520 17,523
Total stockholders’ equity
122,754 126,434 125,619 126,491 126,755 121,394 119,858 118,245 116,282 119,347 118,620 117,442 117,855 116,075 108,346 106,457 139,978 135,307 186,556 183,855
Total Liabilities and Stockholders’ Equity
445,871 428,359 421,188 420,198 423,213 405,491 397,467 394,795 393,719 398,026 399,428 407,060 406,698 408,453 400,873 402,853 426,463 426,433 577,195 551,622
