What type of income statement does AT&T inc. use?

Answer 1

AT&T Inc. uses a classified income statement format. This format separates revenues and expenses into different categories, which typically include:

1. Operating Revenues: This section includes income generated from the company's primary business activities, such as service revenues and equipment sales.

2. Cost of Goods Sold (COGS): This includes direct costs attributable to the production of the goods and services sold.

3. Gross Profit: This is calculated by subtracting COGS from operating revenues.

4. Operating Expenses: This includes selling, general, and administrative expenses, as well as depreciation and amortization.

5. Operating Income: This is derived by subtracting operating expenses from gross profit.

6. Other Income and Expenses: This section includes non-operating income and expenses, such as interest income, interest expense, and gains or losses from investments.

7. Income Before Tax: This is computed by adjusting operating income with other income and expenses.

8. Income Tax Expense: The income tax owed based on the taxable income.

9. Net Income: This is the final figure, representing the company's profit or loss after all revenues, expenses, and taxes have been accounted for.

A classified income statement provides a clearer view of a company’s operational performance and financial health by categorizing the various components of income and expenses. You can view AT&T's most recent income statement in its quarterly or annual reports filed with the SEC.

Answer 2

Review the Notes to the Consolidated Financial Statements specifically related to Inventory. What inventory costing method (LIFO, FIFO, etc.) does this company use?

Answer 3

As of my last update, AT&T Inc. uses the FIFO (First-In, First-Out) method for inventory valuation. Under the FIFO method, the oldest inventory costs are recognized first when recording the cost of goods sold, which can be beneficial during periods of rising prices, as it can lead to lower cost of goods sold and higher net income.

For the most accurate and up-to-date information, it is essential to review AT&T's most recent annual report or quarterly filings (such as their Form 10-K or 10-Q), as they contain the detailed notes to the consolidated financial statements, including information on inventory costing methods.

Answer 4

Did ythey report cost of goods sold (or cost of sales)? If so, was the amount of cost of goods sold for the year of filing?

Answer 5

Yes, AT&T typically reports "Cost of Goods Sold" (COGS) or "Cost of Sales" in its financial statements. The amount for COGS can vary from year to year based on the company's sales volume, product mix, and other factors.

To find the specific amount of cost of goods sold for the most recent fiscal year, you would need to refer to AT&T's latest annual report (Form 10-K) or their quarterly report (Form 10-Q) filed with the SEC. These documents provide detailed financial data, including the COGS amount.

Since I don't have access to real-time data or specific filings made after October 2023, I recommend checking AT&T's official investor relations website or the SEC's EDGAR database to get the most recent and accurate figures regarding their cost of goods sold.

Answer 6

Does AT&T have inventory? If so, what was the value of the company’s inventory as of the year of filing?

Answer 7

Yes, AT&T does have inventory, which primarily includes equipment and supplies required for their telecommunications services. The value of the inventory is reported in their consolidated financial statements.

To find the specific value of AT&T's inventory as of the most recent fiscal year, you would need to check their latest annual report (Form 10-K) or quarterly report (Form 10-Q) filed with the SEC. These documents include the balance sheet and the notes to the consolidated financial statements, which detail the inventory values.

Since I do not have access to data or filings made after October 2023, I recommend checking AT&T's official investor relations website or the SEC's EDGAR database for the most up-to-date financial information, including the value of their inventory.