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50
| AT&T Annual Report 2008
Consolidated Balance Sheets
Dollars in millions except per share amounts
December 31,
2008 2007
Assets
Current Assets
Cash and cash equivalents $ 1,792 $ 1,970
Accounts receivable – net of allowances for uncollectibles of $1,270 and $1,364 16,047 16,185
Prepaid expenses 1,538 1,524
Deferred income taxes 1,014 2,044
Other current assets 2,165 2,963
Total current assets 22,556 24,686
Property, Plant and Equipment – Net 99,088 95,890
Goodwill 71,829 70,713
Licenses 47,306 37,985
Customer Lists and Relationships – Net 10,582 14,505
Other Intangible Assets – Net 5,824 5,912
Investments in Equity Affiliates 2,332 2,270
Postemployment Benefit — 17,291
Other Assets 5,728 6,392
Total Assets $265,245 $275,644
Liabilities and Stockholders’ Equity
Current Liabilities
Debt maturing within one year $ 14,119 $ 6,860
Accounts payable and accrued liabilities 20,032 21,399
Advanced billing and customer deposits 3,849 3,571
Accrued taxes 1,874 5,027
Dividends payable 2,416 2,417
Total current liabilities 42,290 39,274
Long-Term Debt 60,872 57,255
Deferred Credits and Other Noncurrent Liabilities
Deferred income taxes 19,196 24,939
Postemployment benefit obligation 31,930 24,011
Other noncurrent liabilities 14,610 14,798
Total deferred credits and other noncurrent liabilities 65,736 63,748
Stockholders’ Equity
Common shares ($1 par value, 7,000,000,000 authorized:
issued 6,495,231,088 at December 31, 2008 and 2007) 6,495 6,495
Capital in excess of par value 91,728 91,638
Retained earnings 36,591 33,297
Treasury shares (602,221,825 at December 31, 2008,
and 451,685,839 at December 31, 2007, at cost) (21,410) (15,683)
Accumulated other comprehensive income (loss) (17,057) (380)
Total stockholders’ equity 96,347 115,367
Total Liabilities and Stockholders’ Equity $265,245 $275,644
The accompanying notes are an integral part of the consolidated financial statements.