SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 11-K
 
(Mark One)
    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2021
OR
    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                     to                     
Commission File Number:1-8610
 
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
 
 Page
     Report of Independent Registered Public Accounting Firm     
1
Financial Statements: 
Statements of Net Assets Available for Benefits as of December 31, 2021 and 2020     
3
Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2021
4
Notes to Financial Statements     
5
Supplemental Schedule: 
Schedule H, Part IV, Line 4(i) – Schedule of Assets (Held at End of Year) as of December 31, 2021     
11
 



 
Report of Independent Registered Public Accounting Firm



Plan Administrator and Plan Participants
AT&T Savings and Security Plan
Dallas, 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) as of December 31, 2021 and 2020, the related statement of changes in net assets available for benefits for the year ended December 31, 2021, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of AT&T Savings and Security Plan as of December 31, 2021 and 2020, and the changes in net assets available for benefits for the year ended December 31, 2021, in conformity with accounting 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 these financial statements based on our audits.

We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations 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 audits to 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 of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an 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 to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

1



Report on Supplemental Information
The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2021, has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.

/s/ FORVIS, LLP
(Formerly, BKD, LLP)

We have served as the Plan’s auditor since 2018.

San Antonio, Texas
June 28, 2022
2

AT&T Savings and Security Plan
Statements of Net Assets Available For Benefits
(Dollars in Thousands)
 
December 31,
 
2021
2020
ASSETS  
Investments at fair value (See Notes 3 and 4)$2,133,807 $2,040,787 
Fully benefit-responsive investment contracts at contract value (See Note 4)327,252 331,363 
Total Investments2,461,059 2,372,150 
Notes receivable from participants72,867 80,732 
Receivable for investments sold256 1,177 
Participant contributions receivable1,923 1,953 
Employer contributions receivable911 952 
Total Receivables75,957 84,814 
Total Assets2,537,016 2,456,964 
LIABILITIES 
Administrative expenses payable400 250 
Due to broker for securities purchased10 — 
Total Liabilities410 250 
 
Net Assets Available for Benefits$2,536,606 $2,456,714 
 
 
 
See Notes to Financial Statements.  

 
3

AT&T Savings and Security Plan
Statement of Changes in Net Assets Available For Benefits
(Dollars in Thousands)

 
Net Assets Available for Benefits, December 31, 2020
$2,456,714 
Changes in Net Assets:

Contributions:

Participant contributions63,881 
Employer contributions29,049 
Rollover contributions43,534 
136,464 
Investment Income:

Net appreciation in fair value of investments192,529 
Dividends34,024 
Interest5,839 
232,392 
Interest income on notes receivable from participants4,303 
Distributions(291,322)
Administrative expenses(1,945)
 

Net increase79,892 
 

Net Assets Available for Benefits, December 31, 2021
$2,536,606 
 
 

See Notes to Financial Statements.
 


4

AT&T Savings and Security Plan
Notes to Financial Statements
(Dollars in Thousands)
 NOTE 1. PLAN DESCRIPTION
The AT&T Savings and Security Plan (Plan) is a defined contribution plan originally established by SBC Communications Inc. (SBC) to provide a convenient way for eligible employees to save on a regular and long-term basis.
The majority of eligible employees are represented by the Communications Workers of America who are employed by participating companies of AT&T. The following description of the Plan provides only general information. The Plan has detailed provisions covering participant eligibility, participant allotments from pay, participant withdrawals, participant loans, employer contributions and related vesting of contributions and Plan expenses. The Plan text and prospectus include complete descriptions of these and other Plan provisions. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).
The Bank of New York Mellon Corporation (BNY Mellon) serves as the trustee for the Plan. Fidelity Investments Institutional Operations Company, Inc. (Fidelity) serves as recordkeeper for the Plan.
During 2021 and 2020, participants could invest their contributions in one or more of seven funds in 1% increments:

•    AT&T Shares Fund•    Global Equity Fund
•    Bond Fund•    Mid and Small Cap Stock Fund
•    Large Cap Stock Fund•    International Stock Fund
•    Interest Income Fund 
Participants contribute to the Plan through payroll allotments. Participants may also contribute amounts representing distributions from other qualified defined benefit and defined contribution plans (rollovers). The Company contributes to the Plan by matching the participants’ contributions based on the provisions of the Plan. Company matching contributions are made solely in the form of shares of AT&T’s common stock held in an Employee Stock Ownership Plan (ESOP), which is part of the AT&T Shares Fund, within this Plan. Matching contributions made to the Plan can be immediately diversified into any of the fund options above.
Dividends on shares in the AT&T Shares Fund can either be reinvested in the AT&T Shares Fund on a quarterly basis, or paid into a short-term interest bearing fund for distribution before the end of the year. Interest earned on dividends held in the short-term interest-bearing fund are used to purchase additional units of the AT&T Shares Fund in the participant’s account. During 2021, Plan participants elected to receive $6,801 in dividend distributions. This amount is included in distributions on the Plan’s Statement of Changes in Net Assets Available for Benefits.
Each participant is entitled to exercise voting rights attributable to the AT&T shares allocated to their account and is notified by the Company prior to the time that such rights may be exercised. Subject to the fiduciary provisions of ERISA, the trustee will not vote any allocated shares for which instructions have not been given by a participant. The trustee votes any unallocated shares in the same proportion as it votes those shares that were allocated to the extent the proportionate vote is consistent with the trustee’s fiduciary obligations under ERISA. Participants have the same voting rights in the event of a tender or exchange offer.
Although it has not expressed any intent to do so, AT&T has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA and collective bargaining obligations. In the event that the Plan is terminated, subject to the conditions set forth by ERISA, the account balances of all participants shall be 100% vested.

Administrative Expenses The reasonable expenses of plan administration may be charged to the Plan in accordance with procedures adopted by the Plan administrator (as defined by the Plan). Brokerage fees, transfer taxes and other expenses incident to the purchase or sale of securities by the Trustee shall be deemed to be part of the cost of such securities, or deducted in computing the proceeds, as the case may be. Taxes, if any, on any assets held or income received by the Trustee will be charged appropriately against the accounts of Plan participants as determined by the Plan administrator. To the extent that expenses incident to the administration of the Plan are paid from the Plan, the Plan administrator will determine which expenses are to be charged to and paid from participant’s individual accounts, which expenses are to be charged to and paid from the accounts of all participants (and how they are to be allocated among
such accounts), and which expenses are to be charged to and paid from the accounts of one or more identified groups of participants (and how they are to be allocated among such accounts). All expenses of administering the Plan that are not charged to the Plan will be borne by the Company.
5

AT&T Savings and Security Plan
Notes to Financial Statements (Continued)
(Dollars in Thousands)
AT&T has implemented certain benefit plan provisions of the March 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES). The CARES Act includes funding relief for defined benefit plan sponsors, distribution and plan loan changes for participants and beneficiaries, and delay of minimum required distributions otherwise required in 2020. The following provisions of the CARES Act were implemented.

Added an in-service withdrawal option for “coronavirus-related distributions” of up to $100. Participants may repay all or a portion of distributions within three years, and repayments will not count towards annual contribution limits. Distributions under this option will not have tax withheld, and for those under 59 ½, will not be subject to a 10% early withdrawal penalty;

Increased limits on plan loans to $100 (from $50); or 100% (from 50%) of the present value of the participant’s vested benefit, during the 180-day period from March 27, 2020 to September 23, 2020;

Waived required minimum distributions (RMD) otherwise due to be made in 2020.

NOTE 2. ACCOUNTING POLICIES
The accompanying financial statements were prepared in conformity with U.S. generally accepted accounting principles (GAAP), which require management to make estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Distributions are recorded when paid.
Investment Valuation and Income Recognition Investments are stated at fair value, except those investments that are fully benefit-responsive investments, which are stated at contract value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 3 for discussion of fair value measurements. Investments in securities traded on a national securities exchange are valued at the last reported sales price on the last business day of the year. If no sale was reported on that date, they are valued at the last reported bid price. Shares of registered investment companies (i.e., mutual funds) are valued based on quoted market prices, which represent the net asset value of shares held at year-end. Common/collective trust funds are valued at quoted redemption values that represent the net asset values of units held at year-end.
Investment contracts held by a defined contribution plan are required to be reported at contract value. Contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Plan invests in fully benefit-responsive synthetic guaranteed investment contracts (Synthetic GICs). The underlying investments of the Synthetic GICs are comprised of corporate bonds and notes, registered investment companies and government securities. The contract value of the fully benefit-responsive investment contracts represents contributions plus earnings, less participant withdrawals and administrative expenses.
Purchases and sales of securities are reflected as of the trade date. Dividend income is recognized on the ex-dividend date. Interest earned on investments is recognized on the accrual basis. Net appreciation (depreciation) includes the Plan’s gains and losses on investments bought and sold as well as held during the year. Transfers in and out of Level 1 (quoted market prices), Level 2 (other significant observable inputs) and Level 3 (significant unobservable inputs) are recognized on the period ending date.
Notes Receivable from Participants Notes receivable from participants represent participant loans that are recorded at their unpaid principal balance plus any accrued, but unpaid interest. Interest income on notes receivable from participants is recorded when it is earned. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2021 or 2020. If a participant ceases to make loan repayments and the Plan administrator deems the participant loan to be a distribution, the participant loan balance is reduced and a distribution is recorded.

Recent Accounting Standards
In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-13, Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurement. This amendment to the Accounting Standards Codification Topic 820, Fair Value Measurement, eliminates, adds and modifies certain disclosure requirements for fair value measurements. The amendment was effective for fiscal years beginning on or after December 15, 2019. The adoption of this standard did not significantly impact the Plan's financial statements.
6

AT&T Savings and Security Plan
Notes to Financial Statements (Continued)
(Dollars in Thousands)
NOTE 3. FAIR VALUE MEASUREMENTS
Accounting Standards Codification 820, Fair Value Measurement, establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
Level 1    Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
Level 2    Inputs to the valuation methodology include:
•    Quoted prices for similar assets and liabilities in active markets;
•    Quoted prices for identical or similar assets or liabilities in inactive markets;
•    Inputs other than quoted market prices that are observable for the asset or liability;
•    Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.
Level 3    Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.
The valuation methodologies described in Note 2 may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while Plan management believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used at December 31, 2021 and 2020.

The following table sets forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of December 31, 2021:
  
 
Plan Assets at Fair Value as of December 31, 2021
 
Level 1
Level 2Level 3
Total
AT&T common stock$391,272 $— $— $391,272 
Mutual funds or exchange-traded funds11,238 — — 11,238 
Total assets in fair value hierarchy$402,510 $ $ $402,510 
 
 
 
 
Common/collective trusts measured at net asset value:
 
 
 
Large cap U.S. stock index fund1    
 
 
672,366 
Mid and small cap U.S. stock index fund2
 
 
404,944 
Bond index fund3    
 
 
215,791 
International stock index fund4    
 
 
225,626 
Global equity fund5    
 
 
212,570 
Total investments at fair value
 
 
$2,133,807 
1    This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the Standard and Poor’s Composite Stock Price Index of 500 stocks (the “S&P 500 Index”). There are currently no redemption restrictions on this investment.
7

AT&T Savings and Security Plan
Notes to Financial Statements (Continued)
(Dollars in Thousands)
2    This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the Dow Jones U.S. Completion Total Stock Market Index. There are currently no redemption restrictions on this investment.
3    This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the fixed income securities included in the Barclays U.S. Government/Credit Bond Index. There are currently no redemption restrictions on this investment.
4    This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the MSCI EAFE Index. There are currently no redemption restrictions on this investment.
5    This fund consists of two common/collective trust funds with an objective of providing investment returns that approximate an asset allocation of 75% to the Dow Jones U.S. Total Stock Market Index and 25% to the Morgan Stanley Country Index – Europe, Australasia, Far East (MSCI EAFE) Index. There are currently no redemption restrictions on these investments.

The following table sets forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of December 31, 2020:
 
 
Plan Assets at Fair Value as of December 31, 2020
 
Level 1
Level 2
Level 3
Total
AT&T common stock$481,512 $— $— $481,512 
Mutual funds or exchange-traded funds9,713 — — 9,713 
Total assets in fair value hierarchy$491,225 $ $ $491,225 
 
 
 
 
 
Common/collective trusts measured at net asset value:
 
 
 
 
Large cap U.S. stock index fund1    
 
 
 
561,380 
Mid and small cap U.S. stock index fund2
 
 
 
383,155 
Bond index fund3    
 
 
 
224,327 
International stock index fund4    
 
 
 
204,682 
Global equity fund5    

 
 
176,018 
Total investments at fair value
 
 
 
$2,040,787 
 
 
 
 
 
1    This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the Standard and Poor’s Composite Stock Price Index of 500 stocks (the “S&P 500 Index”). There are currently no redemption restrictions on this investment.
2    This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the Dow Jones U.S. Completion Total Stock Market Index. There are currently no redemption restrictions on this investment.
3    This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the fixed income securities included in the Barclays U.S. Government/Credit Bond Index. There are currently no redemption restrictions on this investment.
4    This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the MSCI EAFE Index. There are currently no redemption restrictions on this investment.
5    This fund consists of two common/collective trust funds with an objective of providing investment returns that approximate an asset allocation of 75% to the Dow Jones U.S. Total Stock Market Index and 25% to the Morgan Stanley Country Index – Europe, Australasia, Far East (MSCI EAFE) Index. There are currently no redemption restrictions on these investments.

8

AT&T Savings and Security Plan
Notes to Financial Statements (Continued)
(Dollars in Thousands)
NOTE 4. INVESTMENTS
Fully Benefit-Responsive Investment Contracts
The Interest Income Fund consists of fully benefit-responsive investment contracts with various financial institutions and insurance companies that promise to repay principal plus accrued income at contract maturity, subject to the creditworthiness of the issuer. Interest crediting rates are generally established when the contract is purchased and are periodically reset. The Interest Income Fund invests in Synthetic GICs, also referred to as wrapper contracts. The assets supporting the Synthetic GICs are owned by the Plan and generally consist of high quality fixed income securities.
A bank or insurance company issues a wrapper contract that provides preservation of principal, maintains a stable interest rate and provides daily liquidity at contract value for participant directed transactions, in accordance with the provisions of the Plan. Wrapper contracts amortize the realized and unrealized gains and losses on the underlying fixed income investments through adjustments to the future interest crediting rate. The issuer of the wrapper contract provides assurance that the adjustments to the interest crediting rate do not result in a future interest crediting rate that is less than zero, which would result in a loss of principal or accrued interest.
In certain circumstances, the amount withdrawn from the wrapper contract could be payable at fair value rather than at contract value. These events include termination of the Plan, a material adverse change to the provisions of the Plan, if AT&T elects to withdraw from a wrapper contract in order to switch to a different investment provider or, in the event of a spin-off or sale of a division, if the terms of the successor plan do not meet the contract issuers’ underwriting criteria for issuance of a clone wrapper contract. Events that would permit a wrapper contract issuer to terminate a wrapper contract upon short notice include the Plan’s loss of its qualified status, un-cured material breaches of responsibilities or material and adverse changes to the provisions of the Plan. The Company does not believe any of these events are probable of occurring in the foreseeable future.
Interest Bearing Cash
At December 31, 2021 and 2020, the Plan held approximately $2,571 and $2,602, respectively, of unallocated interest bearing cash related to contributions, uncashed checks and fees pending allocation to participant accounts or clearance through the plan funds.
Investment Risk
Investments held by the Plan are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investments, it is at least reasonably possible that changes in the values of investments could occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefit. Plan participants’ accounts that are invested in the Company stock fund option are exposed to market risk in the event of a significant decline in the value of AT&T stock.

Additionally, the Plan invests in securities with contractual cash flows, such as asset-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate values, delinquencies or defaults, or both, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.

NOTE 5. PARTIES-IN-INTEREST TRANSACTIONS
Plan assets are invested in AT&T stock directly. Because the Company is the plan sponsor, transactions involving the Company’s stock qualify as party-in-interest transactions. In addition, certain investments held by the Plan are managed by BNY Mellon and Fidelity as trustee and record keeper, respectively, as defined by various agreements. Therefore, these transactions and fees paid to these entities qualify as parties-in-interest transactions. All of these transactions are exempt from the prohibited transaction rules.
The Plan may, at the discretion of the Plan’s participants or via the Company match, invest its assets in the Company’s common stock. The Plan’s AT&T Shares Fund held 15,905,363 and 16,742,409 shares of the Company’s common stock as of December 31, 2021 and 2020, respectively. Dividends earned by the Plan’s AT&T Shares Fund on the Company’s common stock were $27,149 for the year ended December 31, 2021.

9

AT&T Savings and Security Plan
Notes to Financial Statements (Continued)
(Dollars in Thousands)
NOTE 6. TAX STATUS
The Plan has received a determination letter from the Internal Revenue Service (IRS) dated June 23, 2015, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (IRC) and, therefore, the related trust is exempt from taxation. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. Subsequent to this determination by the IRS, the Plan was amended. The Plan administrator has indicated that it will take the necessary steps, if any, to bring the Plan’s operations into compliance with the Code.
Accounting principles generally accepted in the United States require Plan management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2021, there were no uncertain positions taken or expected to be taken. The Plan has recognized no interest or penalties related to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

NOTE 7. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
The following is a reconciliation of Net Assets Available for Benefits per the financial statements to the Form 5500 as of December 31:  
 
2021
2020
Net Assets Available for Benefits per the financial statements$2,536,606 $2,456,714 
Distributions payable to participants(108)(714)
 
 
 
Net Assets Available for Benefits per the Form 5500$2,536,498 $2,456,000 
 
 
 
Distributions payable to participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31, but not yet paid as of that date. The following is a reconciliation of distributions to participants per the financial statements to the Form 5500 for the year ended December 31, 2021:
 
2021
Distributions to participants per the financial statements$291,322 
Distributions payable to participants at December 31, 2020
(714)
Distributions payable to participants at December 31, 2021
108 
 
 
Distributions to participants per the Form 5500$290,716 

NOTE 8. SUBSEQUENT EVENTS

During March 2022, AT&T initiated a review with the recordkeeper to identify where participants maintained balances within the Plan. When participant balances were identified as “inactive” in the Plan, those balances were merged into existing participants active accounts or newly created accounts in the AT&T Retirement Savings Plan. As a result, $69,575 of participant balances and assets were transferred from the Plan into the AT&T Retirement Savings Plan during first quarter of 2022.

On April 8, 2022, AT&T completed the separation and distribution of its WarnerMedia business, and merger of a wholly-owned subsidiary of AT&T formed to hold the WarnerMedia business, with a subsidiary of Discovery, Inc. The transaction resulted in the creation of a new Warner Bros. Discovery Stock Fund in the Plan to hold the new Warner Bros. Discovery common stock received as part of the transaction. The Warner Bros. Discovery Stock Fund will remain in the Plans for approximately twelve (12) months unless terminated earlier by the fiduciary.
10

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
AT&T Common Stock
* AT&T INC15,905,363 SHARES$391,272 
Mutual Funds or Exchange-Traded Funds
DREYFUS GOVERNMENT CASH MANAGEMENT FUNDREGISTERED INVESTMENT COMPANY: 11,237,851 UNITS11,238 
Large Cap U.S. Stock Index Fund
* BLACKROCK EQUITY INDEX FUND FCOMMON/COLLECTIVE TRUST FUND: 7,011,799 UNITS672,366 
Mid and Small Cap U.S. Stock Index Fund
* BLACKROCK EXTENDED EQUITY MARKET FUND FCOMMON/COLLECTIVE TRUST FUND: 3,587,613 UNITS404,944 
Bond Index Fund
* BLACKROCK GOVERNMENT/CREDIT BOND INDEX FUND FCOMMON/COLLECTIVE TRUST FUND: 6,323,662 UNITS215,791 
International Stock Index Fund
* BLACKROCK EAFE EQUITY INDEX FUND FCOMMON/COLLECTIVE TRUST FUND: 4,115,495 UNITS225,626 
Global Equity Fund
* BLACKROCK US EQUITY MARKET FUND FCOMMON/COLLECTIVE TRUST FUND: 5,787,298 UNITS212,570
Interest Income Funds
PROTECTIVE LIFE GLOBAL FU 144A0.631% 10/13/2023 DD 10/13/20373 
RELIANCE STANDARD LIFE GL 144A1.512% 09/28/2026 DD 09/28/21319 
CHARLES SCHWAB CORP/THE0.750% 03/18/2024 DD 03/18/21523 
TEXAS INSTRUMENTS INC1.375% 03/12/2025 DD 03/12/20151 
TOYOTA LEASE OWNER T A A3 144A0.390% 04/22/2024 DD 04/21/21448 
TOYOTA LEASE OWNER T A A4 144A0.500% 08/20/2025 DD 04/21/2199 
TRUIST BANK1.500% 03/10/2025 DD 03/09/20327 
UNITED PARCEL SERVICE INC3.900% 04/01/2025 DD 03/24/20432 
US BANCORP3.375% 02/05/2024 DD 02/04/191,756 
U S TREASURY NOTE2.125% 07/31/2024 DD 07/31/175,788 
U S TREASURY NOTE2.750% 02/15/2028 DD 02/15/182,270 
U S TREASURY NOTE2.875% 04/30/2025 DD 04/30/187,829 
U S TREASURY NOTE2.875% 05/15/2028 DD 05/15/182,462 
U S TREASURY NOTE2.875% 05/31/2025 DD 05/31/189,277 
U S TREASURY NOTE2.625% 06/30/2023 DD 06/30/181,648 
11

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
U S TREASURY NOTE2.875% 11/30/2023 DD 11/30/1810,055 
U S TREASURY NOTE2.625% 12/31/2025 DD 12/31/185,509 
U S TREASURY NOTE2.375% 05/15/2029 DD 05/15/19618 
U S TREASURY NOTE1.625% 05/15/2026 DD 05/15/16356 
U S TREASURY NOTE2.000% 06/30/2024 DD 06/30/176,075 
U S TREASURY NOTE1.625% 10/31/2026 DD 10/31/19803 
U S TREASURY NOTE1.125% 02/28/2025 DD 02/29/202,087 
U S TREASURY NOTE0.250% 06/15/2023 DD 06/15/203,981 
U S TREASURY NOTE0.125% 08/15/2023 DD 08/15/202,370 
U S TREASURY NOTE0.375% 11/30/2025 DD 11/30/2013,306 
U S TREASURY NOTE0.125% 12/15/2023 DD 12/15/201,176 
U S TREASURY NOTE0.375% 01/31/2026 DD 01/31/213,376 
WELLS FARGO & CO3.750% 01/24/2024 DD 01/24/19655 
WISCONSIN ELECTRIC POWER CO2.050% 12/15/2024 DD 12/10/19307 
AMERICAN EXPRESS COVAR RT 08/03/2023 DD 08/03/18201 
BX TRUST 2021-ARIA ARIA A 144AVAR RT 10/15/2036 DD 10/28/21499 
BANK OF AMERICA CORPVAR RT 09/25/2025 DD 09/25/20370 
CITIGROUP INCVAR RT 05/15/2024 DD 05/14/20809 
CITIGROUP INCVAR RT 11/03/2025 DD 11/03/21623 
FHLMC POOL #2B-0069VAR RT 12/01/2041 DD 12/01/1126 
FHLMC POOL #78-8657VAR RT 09/01/2031 DD 09/01/01
FHLMC POOL #84-9008VAR RT 06/01/2042 DD 03/01/1346 
FHLMC POOL #84-9539VAR RT 11/01/2044 DD 12/01/1426 
FHLMC POOL #84-9727VAR RT 05/01/2045 DD 05/01/15196 
FHLMC POOL #2B-6264VAR RT 06/01/2047 DD 06/01/17112 
FNMA POOL #0AK5677VAR RT 02/01/2042 DD 02/01/1228 
FNMA POOL #0AL1674VAR RT 05/01/2042 DD 05/01/1218 
FNMA POOL #0AL2492VAR RT 10/01/2042 DD 09/01/1278 
FNMA GTD REMIC P/T 02-W2 AF6STEP 05/25/2032 DD 03/01/02
FNMA GTD REMIC P/T 02-W11 AF6VAR RT 11/25/2032 DD 09/01/02
FNMA GTD REMIC P/T 03-W10 2AVAR RT 06/25/2043 DD 06/01/0384 
FNMA GTD REMIC P/T 04-T4 A9VAR RT 08/25/2034 DD 07/01/0410 
FNMA POOL #0686026VAR RT 04/01/2033 DD 04/01/0331 
FNMA POOL #0756359VAR RT 12/01/2033 DD 12/01/0337 
FNMA POOL #0BM1523VAR RT 07/01/2047 DD 07/01/17210 
FIRST REPUBLIC BANK/CAVAR RT 02/12/2024 DD 02/12/20354 
JP MORGAN CHASE COMMERC C13 A4VAR RT 01/15/2046 DD 07/01/13297 
JPMORGAN CHASE & COVAR RT 04/23/2024 DD 04/23/18543 
JPMORGAN CHASE & COVAR RT 06/01/2024 DD 05/27/20856 
JPMORGAN CHASE & COVAR RT 09/16/2024 DD 09/16/201,120 
JPMORGAN CHASE & COVAR RT 02/16/2025 DD 02/16/21148 
MORGAN STANLEYVAR RT 10/21/2025 DD 10/21/20197 
MORGAN STANLEYVAR RT 05/30/2025 DD 06/01/21740 
12

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
SLC STUDENT LOAN TRUST 201 1 AVAR RT 11/25/2042 DD 07/06/1064 
WELLS FARGO & COVAR RT 06/02/2024 DD 06/02/20403 
FHLMC POOL #G0-47656.000% 09/01/2038 DD 09/01/08
FHLMC POOL #G0-59406.000% 04/01/2040 DD 07/01/10
FHLMC POOL #G0-53696.000% 03/01/2039 DD 03/01/09
FHLMC POOL #G0-67896.000% 05/01/2040 DD 10/01/11
FHLMC POOL #G0-60666.000% 05/01/2040 DD 10/01/10
FHLMC POOL #G0-62496.000% 05/01/2040 DD 02/01/11
FHLMC POOL #G0-62326.000% 05/01/2040 DD 01/01/11
FHLMC POOL #G0-69546.000% 05/01/2040 DD 04/01/12
FHLMC POOL #G0-72226.000% 04/01/2040 DD 11/01/12
FHLMC POOL #A8-10686.000% 08/01/2038 DD 08/01/08
FHLMC POOL #A8-16606.000% 09/01/2038 DD 09/01/08
FHLMC POOL #A8-24746.000% 10/01/2038 DD 10/01/08
FHLMC POOL #C0-34756.000% 04/01/2040 DD 04/01/10
FHLMC POOL #C0-33256.000% 02/01/2039 DD 02/01/09
FHLMC POOL #A8-57416.000% 04/01/2039 DD 04/01/09
FHLMC POOL #V8-08046.000% 01/01/2039 DD 11/01/13
FNMA GTD REMIC P/T 12-117 DC3.000% 01/25/2038 DD 09/01/1292 
FNMA GTD REMIC P/T 13-13 MA4.000% 01/25/2043 DD 02/01/13177 
FNMA GTD REMIC P/T 15-92 PA2.500% 12/25/2041 DD 11/01/15102 
FNMA GTD REMIC P/T 16-11 GA2.500% 03/25/2046 DD 02/01/16521 
FNMA GTD REMIC P/T 16-43 MA3.000% 10/25/2045 DD 06/01/16384 
FNMA GTD REMIC P/T 17-86 PA3.000% 06/25/2045 DD 10/01/17513 
FHLMC MULTICLASS MTG 4189 PA3.500% 11/15/2042 DD 04/01/13115 
FHLMC MULTICLASS MTG 4585 DA3.000% 06/15/2045 DD 05/01/16396 
FHLMC MULTICLASS MTG 4594 PA3.000% 11/15/2044 DD 06/01/16295 
FHLMC MULTICLASS MTG 4604 HA2.500% 05/15/2045 DD 08/01/16275 
FHLMC MULTICLASS MTG 4874 AT3.000% 09/15/2048 DD 03/01/19191 
FNMA POOL #05556785.000% 08/01/2033 DD 07/01/03423 
FNMA POOL #07252286.000% 03/01/2034 DD 02/01/04296 
FNMA POOL #07356765.000% 07/01/2035 DD 06/01/05139 
FNMA POOL #0BF01984.000% 11/01/2040 DD 01/01/18348 
FNMA POOL #0AB01305.000% 05/01/2038 DD 05/01/0941 
FIFTH THIRD BANK NA1.800% 01/30/2023 DD 01/31/20530 
FLORIDA POWER & LIGHT CO2.850% 04/01/2025 DD 03/27/20183 
GNMA II POOL #0MA53325.000% 07/20/2048 DD 07/01/18798 
GNMA II POOL #0MA55305.000% 10/20/2048 DD 10/01/18417 
GNMA II POOL #0MA55964.500% 11/20/2048 DD 11/01/1851 
GNMA II POOL #0MA57114.500% 01/20/2049 DD 01/01/1928 
GNMA II POOL #0MA57644.500% 02/20/2049 DD 02/01/19114 
GNMA II POOL #0MA58184.500% 03/20/2049 DD 03/01/19157 
GNMA II POOL #0MA58195.000% 03/20/2049 DD 03/01/1936 
13

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
GNMA II POOL #0MA58774.500% 04/20/2049 DD 04/01/19226 
GNMA II POOL #0MA59874.500% 06/20/2049 DD 06/01/1979 
GNMA II POOL #0MA59885.000% 06/20/2049 DD 06/01/191,244 
GMF FLOORPLAN OWNER R 2 A 144A0.690% 10/15/2025 DD 10/27/20397 
GEORGIA-PACIFIC LLC 144A0.625% 05/15/2024 DD 11/19/20321 
WW GRAINGER INC1.850% 02/15/2025 DD 02/26/201,197 
GREAT-WEST LIFECO US FINA 144A0.904% 08/12/2025 DD 08/12/20243 
HERSHEY CO/THE2.050% 11/15/2024 DD 10/31/19411 
HUNTINGTON NATIONAL BANK/THE1.800% 02/03/2023 DD 02/04/20505 
HYUNDAI AUTO LEASE S B A3 144A0.330% 06/17/2024 DD 06/16/21248 
MERCEDES-BENZ AUTO LEASE B A30.400% 11/15/2024 DD 06/29/21496 
METROPOLITAN LIFE GLOBAL 144A0.900% 06/08/2023 DD 06/08/20702 
NESTLE HOLDINGS INC 144A0.375% 01/15/2024 DD 09/15/20173 
NIKE INC2.400% 03/27/2025 DD 03/27/20311 
ONCOR ELECTRIC DELIVERY CO LLC0.550% 10/01/2025 DD 04/01/21168 
PNC FINANCIAL SERVICES GROUP I3.500% 01/23/2024 DD 01/23/19916 
PACIFIC LIFE GLOBAL FUNDI 144A1.375% 04/14/2026 DD 04/14/21473 
PEPSICO INC2.250% 03/19/2025 DD 03/19/20646 
PRINCIPAL LIFE GLOBAL FUN 144A0.750% 04/12/2024 DD 04/12/21347 
PROTECTIVE LIFE GLOBAL FU 144A1.082% 06/09/2023 DD 06/09/20526 
CAPITAL ONE MULTI-ASSET A2 A21.720% 08/15/2024 DD 09/05/19734 
CARGILL INC 144A3.250% 03/01/2023 DD 03/01/18180 
CARGILL INC 144A1.375% 07/23/2023 DD 04/23/20227 
CATERPILLAR FINANCIAL SERVICES1.450% 05/15/2025 DD 05/15/20752 
CATERPILLAR FINANCIAL SERVICES0.450% 05/17/2024 DD 05/17/21272 
CHEVRON CORP1.554% 05/11/2025 DD 05/11/20807 
CITIGROUP COMMERCIAL M GC25 A43.635% 10/10/2047 DD 10/01/14473 
CITIBANK NA3.650% 01/23/2024 DD 01/23/19421 
COMCAST CORP3.700% 04/15/2024 DD 10/05/18292 
COMERICA BANK2.500% 07/23/2024 DD 07/23/19258 
WALT DISNEY CO/THE3.350% 03/24/2025 DD 03/23/20691 
EAST OHIO GAS CO/THE 144A1.300% 06/15/2025 DD 06/16/2099 
ECOLAB INC1.650% 02/01/2027 DD 12/15/21326 
EQUITABLE FINANCIAL LIFE 144A1.400% 07/07/2025 DD 07/07/20421 
ESTEE LAUDER COS INC/THE2.000% 12/01/2024 DD 11/21/19411 
EXXON MOBIL CORP2.019% 08/16/2024 DD 08/16/191,153 
EXXON MOBIL CORP2.992% 03/19/2025 DD 03/19/20709 
FHLMC POOL #A6-44406.000% 08/01/2037 DD 08/01/07
FHLMC POOL #A6-38096.000% 08/01/2037 DD 07/01/07
FHLMC POOL #A6-41426.000% 08/01/2037 DD 08/01/07
FHLMC POOL #A6-53106.000% 09/01/2037 DD 09/01/07
FHLMC POOL #A6-55186.000% 09/01/2037 DD 09/01/07
FHLMC POOL #A6-56526.000% 09/01/2037 DD 09/01/07
14

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
FHLMC POOL #A6-70526.000% 10/01/2037 DD 10/01/07
FHLMC POOL #A6-74496.000% 11/01/2037 DD 10/01/07
FHLMC POOL #A6-89986.000% 11/01/2037 DD 11/01/07
FHLMC POOL #A6-98306.000% 12/01/2037 DD 12/01/07
FHLMC POOL #A6-93036.000% 11/01/2037 DD 11/01/07
FHLMC POOL #A6-96546.000% 12/01/2037 DD 12/01/07
FHLMC POOL #A7-64726.000% 04/01/2038 DD 04/01/08
FHLMC POOL #A7-64766.000% 04/01/2038 DD 04/01/08
FHLMC POOL #A7-77666.000% 06/01/2038 DD 05/01/08
FHLMC POOL #G0-41706.000% 04/01/2038 DD 04/01/08
FHLMC POOL #G0-33306.000% 09/01/2037 DD 09/01/07
FHLMC POOL #G0-33496.000% 10/01/2037 DD 09/01/07
FHLMC POOL #G0-35046.000% 11/01/2037 DD 10/01/07
FHLMC POOL #G0-35516.000% 11/01/2037 DD 11/01/07
FHLMC POOL #G0-35816.000% 11/01/2037 DD 11/01/07
FHLMC POOL #G0-36166.000% 12/01/2037 DD 11/01/07
FHLMC POOL #G0-36466.000% 01/01/2038 DD 12/01/07
FHLMC POOL #G0-36986.000% 12/01/2037 DD 12/01/07
FHLMC POOL #G0-37216.000% 12/01/2037 DD 12/01/07
FHLMC POOL #G0-37766.000% 01/01/2038 DD 01/01/08
FHLMC POOL #G0-37816.000% 01/01/2038 DD 01/01/08
FHLMC POOL #G0-38196.000% 01/01/2038 DD 01/01/08
FHLMC POOL #G0-39266.000% 02/01/2038 DD 02/01/08
FHLMC POOL #G0-39416.000% 02/01/2038 DD 02/01/08
FHLMC POOL #G0-42306.000% 04/01/2038 DD 04/01/08
FHLMC POOL #G0-43016.000% 03/01/2038 DD 05/01/08
FHLMC POOL #G0-44116.000% 06/01/2038 DD 06/01/08
FHLMC POOL #G0-45766.000% 09/01/2038 DD 08/01/08
FHLMC POOL #G0-46076.000% 09/01/2038 DD 08/01/08
FHLMC POOL #G0-46456.000% 07/01/2038 DD 08/01/08
FHLMC POOL #G0-47136.000% 10/01/2038 DD 09/01/08
COMMONWEALTH BANK OF AUST 144A1.125% 06/15/2026 DD 09/15/21319 
CANADIAN IMPERIAL BANK OF COMM0.950% 10/23/2025 DD 10/23/20612 
MASTER CREDIT CARD T 1A A 144A0.530% 11/21/2025 DD 06/15/21616 
ROYAL BANK OF CANADA1.400% 11/02/2026 DD 10/07/21617 
SCHLUMBERGER FINANCE CANA 144A2.650% 11/20/2022 DD 11/20/17579 
TORONTO-DOMINION BANK/THE1.150% 06/12/2025 DD 06/12/20595 
AGL CLO 5 LTD 5A A1R 144AVAR RT 07/20/2034 DD 06/28/21850 
ANCHORAGE CAPITAL 20A A1 144AVAR RT 01/20/2035 DD 11/10/211,000 
ATLAS SENIOR LOAN 18A A1 144AVAR RT 01/18/2035 DD 12/15/21850 
BAIN CAPITAL CREDI 3A A1R 144AVAR RT 10/23/2034 DD 10/25/21600 
CIFC FUNDING 2018-II 3A A 144AVAR RT 07/18/2031 DD 07/20/181,048 
DRYDEN 76 CLO LTD 76A A1R 144AVAR RT 10/20/2034 DD 11/18/211,300 
15

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
HALSEYPOINT CLO 2 L 2A A1 144AVAR RT 07/20/2031 DD 07/01/20842 
HALSEYPOINT CLO 3 3A A1A 144AVAR RT 11/30/2032 DD 11/24/20599 
LCM XXIII LTD 23A A1R 144AVAR RT 10/20/2029 DD 02/26/20439 
MF1 2021-FL6 LTD FL6 A 144AVAR RT 07/16/2036 DD 06/24/21250 
NASSAU 2018-II LTD IIA A 144AVAR RT 10/15/2031 DD 11/20/18449 
NORTHWOODS CAPITAL 27A A1 144AVAR RT 10/17/2034 DD 11/23/211,000 
SOUND POINT CLO V-R 1RA A 144AVAR RT 07/18/2031 DD 07/18/18600 
SOUND POINT CLO XX 3A A1A 144AVAR RT 10/26/2031 DD 10/10/18550 
TIKEHAU US CLO I LT 1A A1 144AVAR RT 01/18/2035 DD 12/23/21750 
TRINITAS CLO XVIII 18A A1 144AVAR RT 01/20/2035 DD 12/17/211,224 
DANSKE BANK A/S 144A1.226% 06/22/2024 DD 06/22/20399 
NORDEA BANK ABP 144A1.500% 09/30/2026 DD 09/30/21590 
BANQUE FEDERATIVE DU CRED 144A3.750% 07/20/2023 DD 07/20/18417 
TOTALENERGIES CAPITAL INTERNAT2.434% 01/10/2025 DD 07/10/19464 
BNP PARIBAS SA 144AVAR RT 06/09/2026 DD 06/09/20202 
SMBC AVIATION CAPITAL FIN 144A3.550% 04/15/2024 DD 04/15/19626 
MITSUBISHI UFJ FINANCIAL GROUP2.801% 07/18/2024 DD 07/18/191,192 
MITSUBISHI UFJ FINANCIAL GROUP1.412% 07/17/2025 DD 07/17/20298 
SUMITOMO MITSUI FINANCIAL GROU2.696% 07/16/2024 DD 07/16/19826 
SUMITOMO MITSUI FINANCIAL GROU1.474% 07/08/2025 DD 07/08/20199 
SUMITOMO MITSUI TRUST BAN 144A1.050% 09/12/2025 DD 09/16/20317 
MITSUBISHI UFJ FINANCIAL GROUPVAR RT 07/19/2025 DD 07/20/21593 
MIZUHO FINANCIAL GROUP INCVAR RT 07/10/2024 DD 07/10/20752 
ING GROEP NV4.100% 10/02/2023 DD 10/02/18395 
SIEMENS FINANCIERINGSMAAT 144A0.650% 03/11/2024 DD 03/11/21422 
ING GROEP NV 144AVAR RT 07/01/2026 DD 07/01/20693 
BANCO SANTANDER SA3.848% 04/12/2023 DD 04/12/18207 
BANCO SANTANDER SA2.706% 06/27/2024 DD 06/27/19414 
BANCO SANTANDER SAVAR RT 04/12/2023 DD 04/12/18202 
INTERNATIONAL BANK FOR RECONST0.500% 10/28/2025 DD 10/28/201,140 
CREDIT SUISSE AG/NEW YORK NY2.950% 04/09/2025 DD 04/09/20445 
CREDIT SUISSE AG/NEW YORK NY1.250% 08/07/2026 DD 08/09/21634 
UBS AG/LONDON 144A0.450% 02/09/2024 DD 02/09/21197 
UBS GROUP AG 144AVAR RT 01/30/2027 DD 07/30/20538 
NATIONWIDE BUILDING SOCIE 144A2.000% 01/27/2023 DD 01/27/20203 
NATWEST MARKETS PLC 144A2.375% 05/21/2023 DD 05/21/20204 
HSBC HOLDINGS PLCVAR RT 04/18/2026 DD 08/18/20793 
HSBC HOLDINGS PLCVAR RT 11/22/2024 DD 11/22/21374 
LLOYDS BANKING GROUP PLCVAR RT 05/11/2024 DD 03/11/21423 
STANDARD CHARTERED PLC 144AVAR RT 01/20/2023 DD 10/04/18325 
STANDARD CHARTERED PLC 144AVAR RT 10/14/2023 DD 10/14/20225 
AIG GLOBAL FUNDING 144A0.800% 07/07/2023 DD 07/07/20200 
AIG GLOBAL FUNDING 144A0.900% 09/22/2025 DD 09/22/20315 
16

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
ADOBE INC1.900% 02/01/2025 DD 02/03/20179 
ALPHABET INC0.450% 08/15/2025 DD 08/05/20195 
AMERICAN EXPRESS CO3.700% 08/03/2023 DD 08/03/18287 
ATHENE GLOBAL FUNDING 144A1.200% 10/13/2023 DD 10/15/20551 
BERKSHIRE HATHAWAY ENERGY CO4.050% 04/15/2025 DD 10/15/20270 
BRISTOL-MYERS SQUIBB CO2.900% 07/26/2024 DD 01/26/20334 
BRISTOL-MYERS SQUIBB CO0.750% 11/13/2025 DD 11/13/20243 
MACQUARIE BANK LTD 144A2.100% 10/17/2022 DD 10/17/19759 
MACQUARIE BANK LTD 144A2.300% 01/22/2025 DD 01/22/20410 
MACQUARIE GROUP LTD 144AVAR RT 01/12/2027 DD 01/12/21146 
MASTER CREDIT CARD T 1A A 144A0.530% 11/21/2025 DD 06/15/21739 
AGL CLO 5 LTD 5A A1R 144AVAR RT 07/20/2034 DD 06/28/21900 
ANCHORAGE CAPITAL 20A A1 144AVAR RT 01/20/2035 DD 11/10/211,100 
ATLAS SENIOR LOAN 18A A1 144AVAR RT 01/18/2035 DD 12/15/211,000 
BAIN CAPITAL CREDI 3A A1R 144AVAR RT 10/23/2034 DD 10/25/21750 
CIFC FUNDING 2018-II 3A A 144AVAR RT 07/18/2031 DD 07/20/181,048 
DRYDEN 76 CLO LTD 76A A1R 144AVAR RT 10/20/2034 DD 11/18/211,600 
ELMWOOD CLO IV LTD 1A A 144AVAR RT 04/15/2033 DD 03/26/201,100 
HALSEYPOINT CLO 2 L 2A A1 144AVAR RT 07/20/2031 DD 07/01/20941 
HALSEYPOINT CLO 3 3A A1A 144AVAR RT 11/30/2032 DD 11/24/20549 
NASSAU 2018-II LTD IIA A 144AVAR RT 10/15/2031 DD 11/20/18449 
NORTHWOODS CAPITAL 27A A1 144AVAR RT 10/17/2034 DD 11/23/211,200 
PARALLEL 2017-1 LT 1A A1R 144AVAR RT 07/20/2029 DD 02/12/20783 
SOUND POINT CLO V-R 1RA A 144AVAR RT 07/18/2031 DD 07/18/18600 
SOUND POINT CLO XX 3A A1A 144AVAR RT 10/26/2031 DD 10/10/18600 
TRINITAS CLO XVIII 18A A1 144AVAR RT 01/20/2035 DD 12/17/211,074 
VENTURE 39 CLO LTD 39A A1 144AVAR RT 04/15/2033 DD 03/30/20850 
BNP PARIBAS SA 144A3.500% 03/01/2023 DD 03/01/18592 
TOTALENERGIES CAPITAL INTERNAT2.829% 01/10/2030 DD 07/10/19471 
BNP PARIBAS SA 144AVAR RT 01/13/2027 DD 01/13/21268 
MITSUBISHI UFJ FINANCIAL GROUP3.850% 03/01/2026 DD 03/01/16433 
SUMITOMO MITSUI FINANCIAL GROU3.102% 01/17/2023 DD 01/17/18409 
MIZUHO FINANCIAL GROUP INCVAR RT 09/08/2024 DD 09/08/20224 
COOPERATIEVE RABOBANK UA/NY3.375% 05/21/2025 DD 05/21/15426 
ING GROEP NV3.150% 03/29/2022 DD 03/29/17302 
SHELL INTERNATIONAL FINANCE BV3.875% 11/13/2028 DD 11/13/181,006 
ING GROEP NV 144AVAR RT 07/01/2026 DD 07/01/20371 
EQUINOR ASA2.375% 05/22/2030 DD 05/22/20127 
BANCO SANTANDER SAVAR RT 04/12/2023 DD 04/12/18404 
SWEDBANK AB 144A1.300% 06/02/2023 DD 06/02/20327 
CREDIT SUISSE AG/NEW YORK NY3.625% 09/09/2024 DD 09/09/14848 
CREDIT SUISSE AG/NEW YORK NY2.800% 04/08/2022 DD 04/09/20453 
BARCLAYS BANK PLC1.700% 05/12/2022 DD 05/12/20326 
17

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
GLAXOSMITHKLINE CAPITAL PLC2.850% 05/08/2022 DD 05/09/12532 
PRUDENTIAL PLC3.125% 04/14/2030 DD 04/14/2080 
HSBC HOLDINGS PLCVAR RT 05/18/2024 DD 05/18/18202 
HSBC HOLDINGS PLCVAR RT 04/18/2026 DD 08/18/20471 
STANDARD CHARTERED PLC 144AVAR RT 01/20/2023 DD 10/04/18476 
STANDARD CHARTERED PLC 144AVAR RT 01/12/2025 DD 01/14/21445 
AIG GLOBAL FUNDING 144A2.300% 07/01/2022 DD 07/02/1976 
ADOBE INC2.150% 02/01/2027 DD 02/03/20206 
ADOBE INC2.300% 02/01/2030 DD 02/03/20307 
AIR PRODUCTS AND CHEMICALS INC1.850% 05/15/2027 DD 04/30/20127 
AIR PRODUCTS AND CHEMICALS INC2.050% 05/15/2030 DD 04/30/2075 
COMMIT TO PUR FNMA SF MTG2.000% 01/01/2052 DD 01/01/228,972 
COMMIT TO PUR FNMA SF MTG2.500% 01/01/2052 DD 01/01/224,081 
COMMIT TO PUR FNMA SF MTG3.000% 01/01/2052 DD 01/01/225,180 
COMMIT TO PUR FNMA SF MTG3.500% 01/01/2052 DD 01/01/22(2,105)
COMMIT TO PUR FNMA SF MTG3.500% 02/01/2052 DD 02/01/22(1,051)
ALPHABET INC1.100% 08/15/2030 DD 08/05/20709 
AMAZON.COM INC2.800% 08/22/2024 DD 02/22/18837 
AMAZON.COM INC3.150% 08/22/2027 DD 02/22/18729 
AMERICAN EXPRESS CO2.500% 08/01/2022 DD 08/01/1791 
AMERICAN EXPRESS CO4.200% 11/06/2025 DD 11/06/18440 
AMERICAN EXPRESS CO2.500% 07/30/2024 DD 07/30/1967 
APPLE INC2.450% 08/04/2026 DD 08/04/16940 
APPLIED MATERIALS INC1.750% 06/01/2030 DD 05/29/20220 
ARCHER-DANIELS-MIDLAND CO3.250% 03/27/2030 DD 03/27/2082 
ARIZONA PUBLIC SERVICE CO2.950% 09/15/2027 DD 09/11/17194 
AUTOMATIC DATA PROCESSING INC3.375% 09/15/2025 DD 09/15/15102 
BBCMS MORTGAGE TRUST 202 C9 A52.299% 02/15/2054 DD 03/01/21200 
BAKER HUGHES HOLDINGS LLC / BA3.337% 12/15/2027 DD 12/11/17330 
BANK OF AMERICA CORP3.248% 10/21/2027 DD 10/21/16426 
BANK 2019-BNK21 BN21 A52.851% 10/17/2052 DD 10/01/19788 
BANK 2020-BNK29 BN29 A41.997% 11/15/2053 DD 11/01/20345 
BANK 2020-BNK30 BN30 A41.925% 12/15/2053 DD 12/01/20196 
BANK 2021-BNK32 BN32 A52.643% 04/15/2054 DD 03/01/21363 
TRUIST BANK3.625% 09/16/2025 DD 09/16/15825 
BERKSHIRE HATHAWAY ENERGY CO3.700% 07/15/2030 DD 01/15/21193 
BERKSHIRE HATHAWAY FINANCE COR1.850% 03/12/2030 DD 03/12/20248 
BP CAPITAL MARKETS AMERICA INC4.234% 11/06/2028 DD 11/06/18198 
BURLINGTON NORTHERN SANTA FE L3.000% 04/01/2025 DD 03/09/15420 
CAMDEN PROPERTY TRUST2.800% 05/15/2030 DD 04/20/20234 
CARGILL INC 144A1.375% 07/23/2023 DD 04/23/20202 
CENTERPOINT ENERGY TRANSI 1 A33.028% 10/15/2025 DD 01/19/12562 
CITIGROUP INC3.750% 06/16/2024 DD 06/16/14424 
18

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
CITIGROUP INC3.400% 05/01/2026 DD 05/02/16858 
COMCAST CORP3.300% 02/01/2027 DD 01/10/1729 
COMCAST CORP3.150% 02/15/2028 DD 08/07/1754 
COMCAST CORP3.700% 04/15/2024 DD 10/05/18212 
COMCAST CORP3.950% 10/15/2025 DD 10/05/18218 
COMCAST CORP4.150% 10/15/2028 DD 10/05/18426 
COMCAST CORP2.650% 02/01/2030 DD 11/05/19415 
COMERICA BANK2.500% 07/23/2024 DD 07/23/19336 
CONSUMERS ENERGY CO3.375% 08/15/2023 DD 08/09/13620 
COMMIT TO PUR GNMA II JUMBOS2.500% 01/20/2052 DD 01/01/224,096 
COMMIT TO PUR GNMA II JUMBOS3.000% 01/20/2052 DD 01/01/223,104 
COMMIT TO PUR GNMA II JUMBOS3.000% 02/20/2052 DD 02/01/221,033 
COMMIT TO PUR GNMA II JUMBOS3.500% 01/20/2052 DD 01/01/221,041 
COMMIT TO PUR GNMA II JUMBOS4.000% 01/20/2052 DD 01/01/22(4,212)
COSTCO WHOLESALE CORP1.375% 06/20/2027 DD 04/20/20223 
COSTCO WHOLESALE CORP1.600% 04/20/2030 DD 04/20/20339 
DEERE & CO3.100% 04/15/2030 DD 03/30/20162 
JOHN DEERE CAPITAL CORP1.750% 03/09/2027 DD 03/09/20227 
WALT DISNEY CO/THE3.800% 03/22/2030 DD 03/23/20168 
DUKE ENERGY CAROLINAS LLC3.950% 11/15/2028 DD 11/08/18223 
EAST OHIO GAS CO/THE 144A1.300% 06/15/2025 DD 06/16/2074 
EAST OHIO GAS CO/THE 144A2.000% 06/15/2030 DD 06/16/2073 
ESTEE LAUDER COS INC/THE2.000% 12/01/2024 DD 11/21/19385 
FHLMC POOL #G0-80795.000% 09/01/2035 DD 09/01/05106 
FHLMC POOL #SD-75313.000% 12/01/2050 DD 11/01/20838 
FHLMC POOL #Q0-44393.500% 11/01/2041 DD 10/01/1120 
FHLMC POOL #U9-00653.500% 08/01/2042 DD 08/01/12108 
FHLMC POOL #U9-50263.500% 07/01/2042 DD 07/01/1291 
FHLMC POOL #G6-77003.500% 08/01/2046 DD 08/01/16917 
FHLMC POOL #G6-77134.000% 06/01/2048 DD 05/01/181,028 
FEDERAL FARM CR BK CONS BD5.270% 05/01/2029 DD 05/02/08479 
FEDERAL FARM CR BK CONS BD3.430% 12/06/2028 DD 12/06/181,238 
FHLMC POOL #RA-14113.000% 09/01/2049 DD 09/01/19767 
FHLMC POOL #RA-58012.500% 09/01/2051 DD 08/01/211,005 
FHLMC POOL #RA-58532.500% 09/01/2051 DD 08/01/211,008 
FEDERAL NATL MTG ASSN0.875% 08/05/2030 DD 08/05/20980 
FEDERAL NATL MTG ASSN1.875% 09/24/2026 DD 09/27/161,449 
FNMA GTD REMIC P/T 12-M9 A22.482% 04/25/2022 DD 08/01/1216 
FNMA GTD REMIC P/T 13-13 MA4.000% 01/25/2043 DD 02/01/13135 
FNMA GTD REMIC P/T 15-92 PA2.500% 12/25/2041 DD 11/01/15111 
FNMA GTD REMIC P/T 16-M7 A22.499% 09/25/2026 DD 07/01/16352 
FNMA GTD REMIC P/T 16-43 MA3.000% 10/25/2045 DD 06/01/16519 
FHLMC MULTICLASS MTG 4570 PA3.000% 03/15/2044 DD 04/01/16389 
19

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
FHLMC MULTICLASS MTG 4585 DA3.000% 06/15/2045 DD 05/01/16635 
FHLMC MULTICLASS MTG 4594 PA3.000% 11/15/2044 DD 06/01/16327 
FHLMC MULTICLASS MTG 4604 HA2.500% 05/15/2045 DD 08/01/16307 
FNMA POOL #0AI86184.000% 12/01/2041 DD 12/01/11260 
FNMA POOL #0AJ31074.000% 01/01/2042 DD 01/01/12118 
FNMA POOL #0AJ40504.000% 10/01/2041 DD 10/01/11153 
FNMA POOL #0AL72323.500% 09/01/2045 DD 08/01/15273 
FNMA POOL #0AL74953.500% 10/01/2045 DD 10/01/15195 
FNMA POOL #0AL79103.500% 02/01/2045 DD 12/01/15368 
FNMA POOL #0AL79513.500% 01/01/2046 DD 01/01/16193 
FNMA POOL #0AQ08173.500% 12/01/2042 DD 12/01/12829 
FNMA POOL #0AR83053.500% 05/01/2043 DD 05/01/131,326 
FNMA POOL #0AS61883.500% 11/01/2045 DD 10/01/15246 
FNMA POOL #0AT83903.500% 06/01/2043 DD 06/01/13967 
FNMA POOL #0AX33583.500% 11/01/2045 DD 11/01/15
FNMA POOL #0AX63733.500% 02/01/2045 DD 02/01/15
FNMA POOL #0AX77143.500% 02/01/2045 DD 02/01/15
FNMA POOL #0AY29303.500% 04/01/2045 DD 04/01/15
FNMA POOL #0AY44503.500% 02/01/2045 DD 02/01/15
FNMA POOL #0AY42033.500% 05/01/2045 DD 05/01/1547 
FNMA POOL #0AY47813.500% 03/01/2045 DD 03/01/15
FNMA POOL #0AY63033.500% 02/01/2045 DD 03/01/1532 
FNMA POOL #0AZ00543.500% 07/01/2045 DD 07/01/15
FNMA POOL #0AZ12233.500% 06/01/2045 DD 06/01/1512 
FNMA POOL #0AZ13673.500% 05/01/2045 DD 05/01/15
FNMA POOL #0AZ26043.500% 08/01/2045 DD 08/01/15
FNMA POOL #0AZ26193.500% 08/01/2045 DD 08/01/15
FNMA POOL #0AZ26373.500% 09/01/2045 DD 09/01/1513 
FNMA POOL #0AZ26653.500% 10/01/2045 DD 10/01/1516 
FNMA POOL #0AZ27093.500% 06/01/2045 DD 06/01/15
FNMA POOL #0AZ51963.500% 08/01/2045 DD 08/01/15
FNMA GTD REMIC P/T 04-W1 2A27.000% 12/25/2033 DD 01/01/04157 
FNMA POOL #0AZ86833.500% 01/01/2046 DD 01/01/16
FNMA POOL #0BA35533.500% 11/01/2045 DD 11/01/15
FNMA POOL #0BA28993.500% 11/01/2045 DD 11/01/1524 
FNMA POOL #0BA29783.500% 11/01/2045 DD 11/01/15
FNMA POOL #0BA30843.500% 12/01/2045 DD 12/01/15
FNMA POOL #0BA53243.500% 11/01/2045 DD 11/01/1512 
FNMA POOL #0BA47003.500% 11/01/2045 DD 11/01/15
FNMA POOL #0BC34813.500% 02/01/2046 DD 02/01/16
FNMA POOL #0BM43434.500% 05/01/2048 DD 07/01/181,355 
FNMA POOL #0BM55385.000% 11/01/2048 DD 02/01/19733 
FNMA POOL #0CA21564.000% 08/01/2048 DD 07/01/18254 
20

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
FNMA POOL #0CA47563.000% 12/01/2049 DD 11/01/19772 
FNMA POOL #0FM13894.500% 06/01/2049 DD 08/01/19854 
FNMA POOL #0FM86912.500% 09/01/2051 DD 08/01/211,010 
FNMA POOL #0AB27754.500% 04/01/2041 DD 03/01/11163 
FNMA POOL #0MA08784.000% 10/01/2031 DD 09/01/11202 
FIFTH THIRD BANK NA2.250% 02/01/2027 DD 01/31/20435 
GNMA II POOL #0MA16014.000% 01/20/2044 DD 01/01/14691 
GNMA II POOL #0MA26794.000% 03/20/2045 DD 03/01/151,048 
GNMA II POOL #0MA21494.000% 08/20/2044 DD 08/01/14903 
GNMA II POOL #0MA23044.000% 10/20/2044 DD 10/01/1436 
GNMA II POOL #0MA27554.000% 04/20/2045 DD 04/01/1537 
GNMA II POOL #0MA28934.000% 06/20/2045 DD 06/01/15583 
GNMA II POOL #0MA31064.000% 09/20/2045 DD 09/01/15822 
GNMA II POOL #0MA33114.000% 12/20/2045 DD 12/01/1561 
GNMA II POOL #0MA33774.000% 01/20/2046 DD 01/01/16242 
GNMA II POOL #0MA43823.500% 04/20/2047 DD 04/01/17991 
GNMA II POOL #0MA54005.000% 08/20/2048 DD 08/01/18113 
GNMA II POOL #0MA49003.500% 12/20/2047 DD 12/01/17689 
GNMA II POOL #0MA50805.000% 03/20/2048 DD 03/01/18621 
GNMA II POOL #0MA51934.500% 05/20/2048 DD 05/01/18289 
GNMA II POOL #0MA62214.500% 10/20/2049 DD 10/01/19368 
GNMA II POOL #0MA54674.500% 09/20/2048 DD 09/01/18946 
GNMA II POOL #0MA55975.000% 11/20/2048 DD 11/01/18811 
GNMA II POOL #0MA56535.000% 12/20/2048 DD 12/01/18272 
GNMA II POOL #0MA57114.500% 01/20/2049 DD 01/01/191,843 
GNMA II POOL #0MA57125.000% 01/20/2049 DD 01/01/19858 
GNMA II POOL #0MA58174.000% 03/20/2049 DD 03/01/19242 
GNMA II POOL #0MA58184.500% 03/20/2049 DD 03/01/1980 
GNMA II POOL #0MA58195.000% 03/20/2049 DD 03/01/19343 
GNMA II POOL #0MA59314.000% 05/20/2049 DD 05/01/19915 
GNMA II POOL #0MA61533.000% 09/20/2049 DD 09/01/192,950 
GNMA II POOL #0MA71373.000% 01/20/2051 DD 01/01/21479 
GNMA II POOL #0MA77683.000% 12/20/2051 DD 12/01/212,078 
GNMA II POOL #00052804.000% 01/20/2042 DD 01/01/12173 
GNMA II POOL #00048025.000% 09/20/2040 DD 09/01/10227 
GENERAL DYNAMICS CORP3.375% 05/15/2023 DD 05/11/1877 
WW GRAINGER INC1.850% 02/15/2025 DD 02/26/20433 
HOME DEPOT INC/THE3.750% 02/15/2024 DD 09/10/13448 
HOME DEPOT INC/THE3.900% 12/06/2028 DD 12/06/18197 
HYUNDAI AUTO LEASE S B A3 144A0.330% 06/17/2024 DD 06/16/21273 
INTUIT INC0.950% 07/15/2025 DD 06/29/20148 
INTUIT INC1.350% 07/15/2027 DD 06/29/20147 
INTUIT INC1.650% 07/15/2030 DD 06/29/2096 
21

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
JPMORGAN CHASE & CO3.250% 09/23/2022 DD 09/24/121,117 
JPMBB COMMERCIAL MORTGA C12 A53.664% 07/15/2045 DD 06/01/13360 
KIMBERLY-CLARK CORP3.100% 03/26/2030 DD 03/26/2054 
KING INTERNATIONAL LEASING LLC2.754% 10/15/2022 DD 11/17/1072 
LAM RESEARCH CORP3.750% 03/15/2026 DD 03/04/19571 
LAM RESEARCH CORP1.900% 06/15/2030 DD 05/05/20123 
ELI LILLY & CO3.375% 03/15/2029 DD 02/22/19134 
MARS INC 144A2.700% 04/01/2025 DD 03/29/19156 
MARS INC 144A3.200% 04/01/2030 DD 03/29/19162 
MARSH & MCLENNAN COS INC2.250% 11/15/2030 DD 05/07/20399 
MASTERCARD INC3.300% 03/26/2027 DD 03/26/20189 
MICROSOFT CORP3.125% 11/03/2025 DD 11/03/15395 
MIDAMERICAN ENERGY CO3.650% 04/15/2029 DD 01/09/19220 
MORGAN STANLEY CAPITAL HR2 A43.587% 12/15/2050 DD 12/01/17163 
MORGAN STANLEY4.000% 07/23/2025 DD 07/23/1522 
MORGAN STANLEY3.875% 04/29/2024 DD 04/28/1480 
MORGAN STANLEY3.700% 10/23/2024 DD 10/23/14719 
MORGAN STANLEY BANK OF C24 A43.732% 05/15/2048 DD 08/01/15277 
NESTLE HOLDINGS INC 144A3.350% 09/24/2023 DD 09/24/18208 
NUVEEN LLC 144A4.000% 11/01/2028 DD 10/22/18360 
OHIO POWER CO2.600% 04/01/2030 DD 03/17/2077 
PEPSICO INC2.750% 03/19/2030 DD 03/19/20396 
PFIZER INC3.450% 03/15/2029 DD 03/11/19550 
PFIZER INC2.625% 04/01/2030 DD 03/27/20105 
PFIZER INC1.700% 05/28/2030 DD 05/28/20367 
PRESIDENT AND FELLOWS OF HARVA2.300% 10/01/2023 DD 05/06/13287 
PRINCIPAL FINANCIAL GROUP INC2.125% 06/15/2030 DD 06/12/20272 
PRUDENTIAL FINANCIAL INC3.878% 03/27/2028 DD 03/27/18288 
PUBLIC SERVICE ELECTRIC AND GA3.700% 05/01/2028 DD 05/04/18110 
SAN CLEMENTE LEASING LLC3.030% 11/22/2022 DD 12/08/1047 
CHARLES SCHWAB CORP/THE3.200% 03/02/2027 DD 03/02/17235 
SIMON PROPERTY GROUP LP2.750% 06/01/2023 DD 12/11/17146 
SOUTHERN CALIFORNIA EDISON CO4.200% 03/01/2029 DD 03/15/19139 
STANLEY BLACK & DECKER INC4.250% 11/15/2028 DD 11/06/18227 
TD AMERITRADE HOLDING CORP2.950% 04/01/2022 DD 03/09/15371 
TEXAS INSTRUMENTS INC1.375% 03/12/2025 DD 03/12/20151 
3M CO3.050% 04/15/2030 DD 03/27/2027 
TOYOTA AUTO LOAN EXT 1A A 144A1.070% 02/27/2034 DD 03/08/21466 
TOYOTA LEASE OWNER T A A3 144A0.390% 04/22/2024 DD 04/21/21522 
TOYOTA LEASE OWNER T A A4 144A0.500% 08/20/2025 DD 04/21/2199 
TRUIST BANK2.250% 03/11/2030 DD 03/09/20249 
UNITED PARCEL SERVICE INC4.450% 04/01/2030 DD 03/24/20324 
VENDEE MORTGAGE TRUST 199 1 2Z7.750% 05/15/2022 DD 06/01/92
22

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
U S TREASURY BOND3.375% 11/15/2048 DD 11/15/18733 
U S TREASURY BOND2.375% 11/15/2049 DD 11/15/191,241 
U S TREASURY NOTE2.750% 02/15/2028 DD 02/15/182,940 
U S TREASURY NOTE2.875% 05/15/2028 DD 05/15/186,984 
U S TREASURY NOTE2.875% 05/31/2025 DD 05/31/181,887 
U S TREASURY NOTE3.000% 09/30/2025 DD 09/30/18630 
U S TREASURY NOTE3.125% 11/15/2028 DD 11/15/181,167 
U S TREASURY NOTE2.625% 02/15/2029 DD 02/15/19897 
U S TREASURY NOTE2.250% 11/15/2025 DD 11/15/15182 
U S TREASURY NOTE1.625% 05/15/2026 DD 05/15/16580 
U S TREASURY NOTE1.125% 02/28/2027 DD 02/29/203,294 
U S TREASURY NOTE1.125% 02/28/2025 DD 02/29/202,519 
U S TREASURY NOTE0.250% 07/31/2025 DD 07/31/204,588 
U S TREASURY NOTE0.375% 11/30/2025 DD 11/30/20795 
U S TREASURY NOTE0.625% 12/31/2027 DD 12/31/201,340 
U S TREASURY NOTE0.375% 12/31/2025 DD 12/31/201,890 
U S TREASURY NOTE0.750% 01/31/2028 DD 01/31/213,679 
U S TREASURY NOTE0.750% 04/30/2026 DD 04/30/213,450 
U S TREASURY NOTE1.000% 07/31/2028 DD 07/31/212,288 
U S TREASURY NOTE1.250% 08/15/2031 DD 08/15/214,546 
U S TREASURY NOTE1.125% 08/31/2028 DD 08/31/213,364 
UNITEDHEALTH GROUP INC2.750% 02/15/2023 DD 10/22/12931 
VISA INC3.150% 12/14/2025 DD 12/14/151,280 
VISA INC2.050% 04/15/2030 DD 04/02/20203 
WALMART INC3.700% 06/26/2028 DD 06/27/18168 
WELLS FARGO & CO3.000% 10/23/2026 DD 10/25/16882 
WELLS FARGO COMMERCIAL LC5 A32.918% 10/15/2045 DD 09/01/12978 
WELLS FARGO COMMERCIAL LC5 ASB2.528% 10/15/2045 DD 09/01/1238 
WELLS FARGO & CO3.750% 01/24/2024 DD 01/24/19168 
WELLS FARGO COMMERCIAL C51 ASB3.160% 06/15/2052 DD 07/01/19159 
WELLS FARGO COMMERCIAL C58 A42.092% 07/15/2053 DD 12/01/20247 
WISCONSIN ELECTRIC POWER CO2.050% 12/15/2024 DD 12/10/19128 
BX TRUST 2021-ARIA ARIA A 144AVAR RT 10/15/2036 DD 10/28/21549 
BANK OF AMERICA CORPVAR RT 07/21/2023 DD 07/21/17404 
BANK OF AMERICA CORPVAR RT 07/23/2024 DD 07/23/18208 
BANK OF AMERICA CORPVAR RT 07/23/2029 DD 07/23/18251 
BANK OF AMERICA CORPVAR RT 07/23/2031 DD 07/23/20335 
BANK OF AMERICA CORPVAR RT 07/21/2032 DD 07/21/21236 
CITIGROUP INCVAR RT 06/01/2024 DD 05/22/18250 
CITIGROUP INCVAR RT 10/30/2024 DD 10/30/20373 
CITIGROUP INCVAR RT 11/05/2030 DD 11/05/19208 
FHLMC POOL #1B-1438VAR RT 01/01/2034 DD 01/01/0418 
FHLMC POOL #1B-0118VAR RT 08/01/2031 DD 08/01/01
23

AT&T SAVINGS AND SECURITY PLAN
EIN 43-1301883, PLAN NO. 004
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2021
(Dollars in Thousands)
Identity of IssueDescription of InvestmentCurrent Value
FNMA GTD REMIC P/T 02-W2 AF6STEP 05/25/2032 DD 03/01/02
FNMA GTD REMIC P/T 02-W11 AF6VAR RT 11/25/2032 DD 09/01/02
FNMA POOL #0728766VAR RT 07/01/2033 DD 07/01/03
FIRST REPUBLIC BANK/CAVAR RT 02/12/2024 DD 02/12/20253 
GNMA II POOL #0MA0414VAR RT 09/20/2042 DD 09/01/1243 
GS MORTGAGE SECURITIES GC13 A5VAR RT 07/10/2046 DD 07/01/13441 
JPMORGAN CHASE & COVAR RT 01/23/2029 DD 01/23/18348 
JPMORGAN CHASE & COVAR RT 04/23/2024 DD 04/23/1883 
JPMORGAN CHASE & COVAR RT 07/23/2024 DD 07/23/1878 
JPMORGAN CHASE & COVAR RT 12/05/2024 DD 12/05/18237 
JPMORGAN CHASE & COVAR RT 04/22/2031 DD 04/22/2025 
JPMORGAN CHASE & COVAR RT 05/13/2031 DD 05/13/20104 
JPMORGAN CHASE & COVAR RT 06/01/2024 DD 05/27/20907 
METLIFE INCVAR RT 09/15/2023 DD 09/10/13360 
MORGAN STANLEYVAR RT 04/01/2031 DD 03/31/20191 
MORGAN STANLEYVAR RT 12/10/2026 DD 12/10/20897 
MORGAN STANLEYVAR RT 04/24/2024 DD 04/24/18284 
MORGAN STANLEYVAR RT 10/24/2023 DD 10/24/16298 
WELLS FARGO & COVAR RT 04/30/2026 DD 04/30/20412 
Total Interest Income Funds at Fair Value330,897 
Adjustment From Fair Value To Contract Value For Fully Benefit-Responsive Investment Contracts(3,645)
Total Interest Income Funds at Contract Value327,252 
* Notes Receivable from Participants4.25% - 10.50%72,867 
Total$2,533,926 
* Party-in-interest
24


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustee (or other persons who administer the employee benefit plan) has duly caused this annual report to be signed by the undersigned thereunto duly authorized.


 
 AT&T Savings and Security Plan
 By: AT&T Services, Inc.,
 Plan Administrator for the Foregoing Plan
By/s/ Debra L. Dial
 Debra L. Dial
 Senior Vice President and Controller
Date: June 28, 2022





































EXHIBIT INDEX
Exhibit identified below, Exhibit 23 filed herein as exhibit hereto.
 

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