AT&T 2025年度报告

FORM 11-K (Mark One)☒ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the fiscal year ended December31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the transition period fromto A.Full title of the plan and the address of the plan, if different from that of the issuer named below: AT&T SAVINGS AND SECURITY PLAN B.Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: AT&T INC.208 S. Akard, Dallas, Texas 75202 AT&T Savings and Security Plan Financial Statements, Supplemental Schedule and Exhibit Table of Contents Report of Independent Registered Public Accounting Firm1 Financial Statements:Statements of Net Assets Available for Benefits as of December31, 2025 and 20242Statement of Changes in Net Assets Available for Benefits for the Year Ended December31, 20253Notes to Financial Statements4 Supplemental Schedule:Schedule H, Part IV, Line 4(i) – Schedule of Assets (Held at End of Year) as of December31, 202510 Report of Independent Registered Public Accounting Firm Plan Administrator and Plan ParticipantsAT&T Savings and Security PlanDallas, Texas Opinion on the Financial Statements We have audited the accompanying statements of net assets available for benefits of AT&T Savings and Security Plan (the “Plan”) asof December 31, 2025 and 2024, the related statement of changes in net assets available for benefits for the year ended December 31,2025, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements referred toabove present fairly, in all material respects, the net assets available for benefits of AT&T Savings and Security Plan as of December31, 2025 and 2024, and the changes in net assets available for benefits for the year ended December 31, 2025, in conformity withaccounting principles generally accepted in the United States of America. Basis of Opinion These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on thesefinancial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and arerequired to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules andregulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the auditsto obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part ofour audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressingan opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due toerror or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidenceregarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles usedand significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believethat our audits provide a reasonable basis for our opinion. Report on Supplemental Information The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2025, has beensubjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedule isthe responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedule reconcilesto the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test thecompleteness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplementalschedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with theDepartment of Labor’s Rules and Regulations for Reporting and Disclosure under theEmployee Retirement Income Security Act of1974. In our opinion, the schedule of assets (held at end of year) is fairly stated, in all material respects, in relation to the basicfinancial statements taken as a whole. /s/ Forvis Mazars, LLP We have served as the Plan’s auditor since 2018. San Antonio, TexasJune 22, 2026 AT&T Savings and Security