Consolidated Balance Sheets

(dollars in millions, except per share amounts)

At December 31,

 

2008

 

 

2007

 

Assets

Current assets

Cash and cash equivalents

$

9,782

 

$

1,153

 

Short-term investments

 

509

 

 

2,244

 

Accounts receivable, net of allowances of $941 and $1,025

 

11,703

 

 

11,736

 

Inventories

 

2,092

 

 

1,729

 

Prepaid expenses and other

 

1,989

 

 

1,836

 

Total current assets

 

26,075

 

 

18,698

 

 

Plant, property and equipment

 

215,605

 

 

213,994

 

Less accumulated depreciation

 

129,059

 

 

128,700

 

 

 

86,546

 

 

85,294

 

Investments in unconsolidated businesses

 

3,393

 

 

3,372

 

Wireless licenses

 

61,974

 

 

50,796

 

Goodwill

 

6,035

 

 

5,245

 

Other intangible assets, net

 

5,199

 

 

4,988

 

Other investments

 

4,781

 

 

 

Other assets

 

8,349

 

 

18,566

 

Total assets

$

202,352

 

$

186,959

 

 

Liabilities and Shareowners’ Investment

Current liabilities

Debt maturing within one year

$

4,993

 

$

2,954

 

Accounts payable and accrued liabilities

 

13,814

 

 

14,462

 

Other

 

7,099

 

 

7,325

 

Total current liabilities

 

25,906

 

 

24,741

 

 

Long-term debt

 

46,959

 

 

28,203

 

Employee benefit obligations

 

32,512

 

 

29,960

 

Deferred income taxes

 

11,769

 

 

14,784

 

Other liabilities

 

6,301

 

 

6,402

 

 

Minority interest

 

37,199

 

 

32,288

 

 

Shareowners’ investment

Series preferred stock ($.10 par value; none issued)

 

 

 

 

Common stock ($.10 par value; 2,967,610,119 and

 

 

 

 

 

 

2,967,610,119 shares issued)

 

297

 

 

297

 

Contributed capital

 

40,291

 

 

40,316

 

Reinvested earnings

 

19,250

 

 

17,884

 

Accumulated other comprehensive loss

 

(13,372

)

 

(4,506

)

Common stock in treasury, at cost

 

(4,839

)

 

(3,489

)

Deferred compensation-employee stock ownership plans and other

 

79

 

 

79

 

Total shareowners’ investment

 

41,706

 

 

50,581

 

Total liabilities and shareowners’ investment

$

202,352

 

$

186,959

 

See Notes to Consolidated Financial Statements.