consolidated balance sheets

(dollars in millions, except per share amounts)

At December 31,

 

2011

 

 

2010

 

Assets

Current assets

Cash and cash equivalents

$

13,362

 

$

6,668

 

Short-term investments

 

592

 

 

545

 

Accounts receivable, net of allowances of $802 and $876

 

11,776

 

 

11,781

 

Inventories

 

940

 

 

1,131

 

Prepaid expenses and other

 

4,269

 

 

2,223

 

Total current assets

 

30,939

 

 

22,348

 

 

 

 

 

 

 

 

Plant, property and equipment

 

215,626

 

 

211,655

 

Less accumulated depreciation

 

127,192

 

 

123,944

 

 

 

88,434

 

 

87,711

 

 

 

 

 

 

 

 

Investments in unconsolidated businesses

 

3,448

 

 

3,497

 

Wireless licenses

 

73,250

 

 

72,996

 

Goodwill

 

23,357

 

 

21,988

 

Other intangible assets, net

 

5,878

 

 

5,830

 

Other assets

 

5,155

 

 

5,635

 

Total assets

$

230,461

 

$

220,005

 

 

Liabilities and Equity

Current liabilities

Debt maturing within one year

$

4,849

 

$

7,542

 

Accounts payable and accrued liabilities

 

14,689

 

 

15,702

 

Other

 

11,223

 

 

7,353

 

Total current liabilities

 

30,761

 

 

30,597

 

 

Long-term debt

 

50,303

 

 

45,252

 

Employee benefit obligations

 

32,957

 

 

28,164

 

Deferred income taxes

 

25,060

 

 

22,818

 

Other liabilities

 

5,472

 

 

6,262

 

 

Equity

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

 

 

 

 

Common stock ($.10 par value; 2,967,610,119 shares issued in both periods)

 

297

 

 

297

 

Contributed capital

 

37,919

 

 

37,922

 

Reinvested earnings

 

1,179

 

 

4,368

 

Accumulated other comprehensive income

 

1,269

 

 

1,049

 

Common stock in treasury, at cost

 

(5,002

)

 

(5,267

)

Deferred compensation – employee stock ownership plans and other

 

308

 

 

200

 

Noncontrolling interest

 

49,938

 

 

48,343

 

Total equity

 

85,908

 

 

86,912

 

Total liabilities and equity

$

230,461

 

$

220,005

 

See Notes to Consolidated Financial Statements