SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
(Mark One)
 
FORM 11-K
 
☒
ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
For the fiscal year ended December 31, 2016
 
 
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
 
 
 
 
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, 2016 and 2015
2
   Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2016
3
   Notes to Financial Statements
4
   
Supplemental Schedule:
  
   Schedule H, Line 4(i) – Schedule of Assets (Held at End of Year) as of December 31, 2016
11
   
Exhibit:
  
   
   23 – Consent of Independent Registered Public Accounting Firm
28
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To Plan Administrator
of the AT&T Savings and Security Plan

We have audited the accompanying statements of net assets available for benefits of the AT&T Savings and Security Plan as of December 31, 2016 and 2015, and the related statement of changes in net assets available for benefits for the year ended December 31, 2016. 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 conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan's internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, 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. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the AT&T Savings and Security Plan at December 31, 2016 and 2015, and the changes in its net assets available for benefits for the year ended December 31, 2016, in conformity with U.S. generally accepted accounting principles.

The accompanying supplemental schedule of assets held (at end of year) as of December 31, 2016, has been subjected to audit procedures performed in conjunction with the audit of the AT&T Savings and Security Plan's financial statements. The information in the supplemental schedule is the responsibility of the Plan's management. Our audit procedures included determining whether the information 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 information, we evaluated whether such information, 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 information is fairly stated, in all material respects, in relation to the financial statements as a whole.


Dallas, Texas /s/ Ernst & Young LLP
June 22, 2017


 
1
AT&T SAVINGS AND SECURITY PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
(Dollars in Thousands)
         
         
   
December 31,
   
2016
  
2015
ASSETS
        
         
Investments at fair value (See Notes 3 and 4)
  
$
4,893,896
  
$
4,360,208
             
Fully benefit-responsive investment contracts at contract value (See Note 4)
    
814,265
    
784,643
             
Notes receivable from participants
    
233,312
    
248,156
Receivable for investments sold
    
2,383
    
-
Participant contributions receivable
    
3,349
    
3,531
Employer contributions receivable
    
1,589
    
1,704
Dividends and interest receivable
    
16
    
2
   Total Receivables
    
240,649
    
253,393
             
Total Assets
    
5,948,810
    
5,398,244
             
LIABILITIES
            
Administrative expenses payable
    
1,508
    
762
Due to broker for securities purchased
    
2,725
    
485
             
Total Liabilities
    
4,233
    
1,247
             
Net Assets Available for Benefits
  
$
5,944,577
  
$
5,396,997
             
See Notes to Financial Statements.
            
 
2
AT&T SAVINGS AND SECURITY PLAN
  
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
  
FOR THE YEAR ENDED DECEMBER 31, 2016
  
(Dollars in Thousands)
  
       
       
Net Assets Available for Benefits, December 31, 2015
  
$
5,396,997
  
         
Additions to Net Assets:
        
   Contributions:
        
      Participant contributions
    
161,416
  
      Employer contributions
    
78,835
  
      Rollover contributions
    
19,595
  
     
259,846
  
         
   Investment Income:
        
      Net appreciation in fair value of investments
    
669,974
  
      Dividends on AT&T common shares
    
103,315
  
      Interest
    
19,406
  
     
792,695
  
         
   Interest income on notes receivable from participants
    
9,958
  
         
         
      Total Additions
    
1,062,499
  
         
Deductions from Net Assets:
        
   Distributions
    
505,025
  
   Administrative expenses
    
5,951
  
   Other deductions
    
22
  
      Total Deductions
    
510,998
  
         
Net increase before transfers
    
551,501
  
         
Transfer to other qualified savings plan
    
(3,921
)
         
Net Assets Available for Benefits, December 31, 2016
  
$
5,944,577
  
         
See Notes to Financial Statements.
        
3
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 for retirement on a regular and long-term basis. In connection with the November 2005 merger of AT&T Corp., SBC changed its name to AT&T Inc. (AT&T or the Company).

The majority of eligible employees are represented by the Communications Workers of America or the International Brotherhood of Electrical Workers 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 record keeper for the Plan.

During 2016, 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 2016, Plan participants elected to receive $26,685 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 respective participating companies in the Plan as determined by the plan administrator.
 
 
4
Notes to Financial Statements (Continued)
(Dollars in Thousands)

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 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 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.

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, 2016 or 2015. 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.
5
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, 2016 and 2015.
The following table sets forth by level, within the fair value hierarchy, the Plan's investments at fair value as of December 31, 2016:
               
 
Plan Assets at Fair Value as of December 31, 2016
 
Level 1
  
Level 2
  
Level 3
  
Total
AT&T common stock
$
2,222,706
  
$
-
  
$
-
  
$
2,222,706
Mutual funds or exchange-traded funds
  
53,659
    
-
    
-
    
53,659
Total assets in fair value hierarchy
$
2,276,365
   $
-
   $
-
  
$
2,276,365
Common/collective trusts measured at net asset value:
                      
      Large cap U.S. stock index fund1
                    
998,042
      Mid and small cap U.S. stock index fund2
                    
612,182
      Bond index fund3
                    
399,017
      International stock index fund4
                    
321,719
      Global equity fund5
                    
286,571
                     
2,617,531
Total investments at fair value
                  
$
4,893,896
 
 
6
Notes to Financial Statements (Continued)
(Dollars in Thousands)
 
The following table sets forth by level, within the fair value hierarchy, the Plan's investments at fair value as of December 31, 2015:
                       
 
Plan Assets at Fair Value as of December 31, 2015
 
Level 1
  
Level 2
  
Level 3
  
Total
AT&T common stock
$
1,878,981
  
$
-
  
$
-
  
$
1,878,981
Mutual funds or exchange-traded funds
  
51,912
    
-
    
-
    
51,912
Total assets in fair value hierarchy
$
1,930,893
   $ 
-
  
$
-
  
$
1,930,893
Common/collective trusts measured at net asset value:
                      
      Large cap U.S. stock index fund1
                    
928,208
      Mid and small cap U.S. stock index fund2
                    
551,207
      Bond index fund3
                    
364,028
      International stock index fund4
                    
315,434
      Global equity fund5
                    
270,438
                     
2,429,315
Total investments at fair value
                  
$
4,360,208
1This 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.

2This 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.

3This 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.

4This 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.

5This 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.
7
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.

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.
8
Notes to Financial Statements (Continued)
(Dollars in Thousands)
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.

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, 2016, 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.
9
Notes to Financial Statements (Continued)
(Dollars in Thousands)
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:

   
2016
  
2015
             
Net Assets Available for Benefits per the financial statements
  
$
5,944,577
    
$
5,396,997
  
                 
                 
Distributions payable to participants
    
(564
)
    
(947
)
                 
Net Assets Available for Benefits per the Form 5500
  
$
5,944,013
    
$
5,396,050
  

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, 2016:

Distributions to participants per the financial statements
  
$
505,025
  
Distributions payable to participants at December 31, 2015
    
(947
)
Distributions payable to participants at December 31, 2016
    
564
  
Distributions to participants per the Form 5500
  
$
504,642
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
AT&T Shares Fund
              
 
*
AT&T COMMON SHARES
52,262,077 SHARES
    $
1,619,742
      $
2,222,706
  
 
*
DREYFUS GOVERNMENT CASH
   MANAGEMENT FUND
REGISTERED INVESTMENT
   COMPANY: 20,564,907 UNITS
    
20,565
      
20,565
  
   
TOTAL SHARES FUND
      
1,640,307
      
2,243,271
  
                       
Bond Fund
                  
 
*
BLACKROCK GOVERNMENT/CREDIT
   BOND INDEX FUND F
COMMON/COLLECTIVE TRUST
   FUND: 14,275,958 UNITS
      
**
    
399,017
  
                       
                       
Large Cap Stock Fund
                  
 
*
BLACKROCK
   EQUITY INDEX FUND F
COMMON/COLLECTIVE TRUST
   FUND: 24,347,656 UNITS
      
**
    
998,042
  
                       
Interest Income Fund
                  
 
*
DREYFUS GOVT CAS MGMT INST 289
VAR RT  12/31/2075 DD 06/03/97
            
1
  
                       
 
*
DREYFUS GOVT CAS MGMT INST 289
VAR RT  12/31/2075 DD 06/03/97
            
6,260
  
   
FHLMC   POOL #A6-4440
6.000% 08/01/2037 DD 08/01/07
            
5
  
   
FHLMC   POOL #A6-3809
6.000% 08/01/2037 DD 07/01/07
            
7
  
   
FHLMC   POOL #A6-4100
6.000% 08/01/2037 DD 08/01/07
            
1
  
   
FHLMC   POOL #A6-4142
6.000% 08/01/2037 DD 08/01/07
            
2
  
   
FHLMC   POOL #A6-5310
6.000% 09/01/2037 DD 09/01/07
            
2
  
   
FHLMC   POOL #A6-5518
6.000% 09/01/2037 DD 09/01/07
            
5
  
   
FHLMC   POOL #A6-5651
6.000% 09/01/2037 DD 09/01/07
            
1
  
   
FHLMC   POOL #A6-5652
6.000% 09/01/2037 DD 09/01/07
            
4
  
   
FHLMC   POOL #A6-7052
6.000% 10/01/2037 DD 10/01/07
            
3
  
   
FHLMC   POOL #A6-7449
6.000% 11/01/2037 DD 10/01/07
            
4
  
   
FHLMC   POOL #A6-8998
6.000% 11/01/2037 DD 11/01/07
            
5
  
   
FHLMC   POOL #A6-9830
6.000% 12/01/2037 DD 12/01/07
            
4
  
   
FHLMC   POOL #A6-9265
6.000% 12/01/2037 DD 12/01/07
            
2
  
   
FHLMC   POOL #A6-9303
6.000% 11/01/2037 DD 11/01/07
            
2
  
   
FHLMC   POOL #A6-9654
6.000% 12/01/2037 DD 12/01/07
            
24
  
   
FHLMC   POOL #A7-6056
6.000% 04/01/2038 DD 04/01/08
            
1
  
   
FHLMC   POOL #A7-6472
6.000% 04/01/2038 DD 04/01/08
            
3
  
   
FHLMC   POOL #A7-6476
6.000% 04/01/2038 DD 04/01/08
            
3
  
   
FHLMC   POOL #A7-7211
6.000% 05/01/2038 DD 05/01/08
            
4
  
   
FHLMC   POOL #A7-7766
6.000% 06/01/2038 DD 05/01/08
            
1
  
   
FHLMC   POOL #A7-8625
6.000% 06/01/2038 DD 06/01/08
            
1
  
   
FHLMC   POOL #2B-0069
VAR RT  12/01/2041 DD 12/01/11
            
338
  
   
FHLMC   POOL #G0-3297
6.000% 09/01/2037 DD 09/01/07
            
2
  
   
FHLMC   POOL #G0-4170
6.000% 04/01/2038 DD 04/01/08
            
4
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
   
FHLMC   POOL #G0-3330
6.000% 09/01/2037 DD 09/01/07
            
4
  
   
FHLMC   POOL #G0-3349
6.000% 10/01/2037 DD 09/01/07
            
4
  
   
FHLMC   POOL #G0-3517
6.000% 11/01/2037 DD 10/01/07
            
1
  
   
FHLMC   POOL #G0-3504
6.000% 11/01/2037 DD 10/01/07
            
2
  
   
FHLMC   POOL #G0-3551
6.000% 11/01/2037 DD 11/01/07
            
23
  
   
FHLMC   POOL #G0-3581
6.000% 11/01/2037 DD 11/01/07
            
9
  
   
FHLMC   POOL #G0-3616
6.000% 12/01/2037 DD 11/01/07
            
10
  
   
FHLMC   POOL #G0-3646
6.000% 01/01/2038 DD 12/01/07
            
5
  
   
FHLMC   POOL #G0-3698
6.000% 12/01/2037 DD 12/01/07
            
7
  
   
FHLMC   POOL #G0-3721
6.000% 12/01/2037 DD 12/01/07
            
4
  
   
FHLMC   POOL #G0-3776
6.000% 01/01/2038 DD 01/01/08
            
11
  
   
FHLMC   POOL #G0-3781
6.000% 01/01/2038 DD 01/01/08
            
31
  
   
FHLMC   POOL #G0-3819
6.000% 01/01/2038 DD 01/01/08
            
3
  
   
FHLMC   POOL #G0-3850
6.000% 02/01/2038 DD 01/01/08
            
1
  
   
FHLMC   POOL #G0-3926
6.000% 02/01/2038 DD 02/01/08
            
3
  
   
FHLMC   POOL #G0-3941
6.000% 02/01/2038 DD 02/01/08
            
11
  
   
FHLMC   POOL #G0-4230
6.000% 04/01/2038 DD 04/01/08
            
3
  
   
FHLMC   POOL #G0-4301
6.000% 03/01/2038 DD 05/01/08
            
2
  
   
FHLMC   POOL #G0-4411
6.000% 06/01/2038 DD 06/01/08
            
8
  
   
FHLMC   POOL #G0-4576
6.000% 09/01/2038 DD 08/01/08
            
15
  
   
FHLMC   POOL #G0-4607
6.000% 09/01/2038 DD 08/01/08
            
7
  
   
FHLMC   POOL #G0-4645
6.000% 07/01/2038 DD 08/01/08
            
9
  
   
FHLMC   POOL #G0-4713
6.000% 10/01/2038 DD 09/01/08
            
9
  
   
FHLMC   POOL #G0-4757
6.000% 08/01/2038 DD 10/01/08
            
1
  
   
FHLMC   POOL #G0-4765
6.000% 09/01/2038 DD 09/01/08
            
27
  
   
FHLMC   POOL #G0-5940
6.000% 04/01/2040 DD 07/01/10
            
3
  
   
FHLMC   POOL #G0-5369
6.000% 03/01/2039 DD 03/01/09
            
3
  
   
FHLMC   POOL #G0-5666
6.000% 04/01/2038 DD 10/01/09
            
1
  
   
FHLMC   POOL #G0-6789
6.000% 05/01/2040 DD 10/01/11
            
8
  
   
FHLMC   POOL #G0-6066
6.000% 05/01/2040 DD 10/01/10
            
12
  
   
FHLMC   POOL #G0-6249
6.000% 05/01/2040 DD 02/01/11
            
5
  
   
FHLMC   POOL #G0-6232
6.000% 05/01/2040 DD 01/01/11
            
2
  
   
FHLMC   POOL #G0-6954
6.000% 05/01/2040 DD 04/01/12
            
11
  
   
FHLMC   POOL #G0-7222
6.000% 04/01/2040 DD 11/01/12
            
12
  
   
FHLMC   POOL #A8-1068
6.000% 08/01/2038 DD 08/01/08
            
4
  
   
FHLMC   POOL #A8-1660
6.000% 09/01/2038 DD 09/01/08
            
2
  
   
FHLMC   POOL #A8-2394
6.000% 10/01/2038 DD 10/01/08
            
1
  
   
FHLMC   POOL #A8-2474
6.000% 10/01/2038 DD 10/01/08
            
1
  
   
FHLMC   POOL #C0-3475
6.000% 04/01/2040 DD 04/01/10
            
6
  
   
FHLMC   POOL #C0-3325
6.000% 02/01/2039 DD 02/01/09
            
4
  
   
FHLMC   POOL #A8-3801
6.000% 12/01/2038 DD 12/01/08
            
1
  
   
FHLMC   POOL #A8-5741
6.000% 04/01/2039 DD 04/01/09
            
1
  
   
FHLMC   POOL #78-8657
VAR RT  09/01/2031 DD 09/01/01
            
22
  
   
FHLMC   POOL #84-9008
VAR RT  06/01/2042 DD 03/01/13
            
1,007
  
   
FHLMC   POOL #84-9539
VAR RT  11/01/2044 DD 12/01/14
            
691
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
 
   
FHLMC   POOL #84-9727
VAR RT  05/01/2045 DD 05/01/15
            
3,554
  
   
FHLMC   POOL #V8-0804
6.000% 01/01/2039 DD 11/01/13
            
40
  
   
FNMA    POOL #0AK5677
VAR RT  02/01/2042 DD 02/01/12
            
411
  
   
FNMA    POOL #0AL1674
VAR RT  05/01/2042 DD 05/01/12
            
447
  
   
FNMA    POOL #0AL2492
VAR RT  10/01/2042 DD 09/01/12
            
1,452
  
   
FNMA    POOL #0AL7162
VAR RT  09/01/2042 DD 07/01/15
            
740
  
   
FNMA    POOL #0AU8673
VAR RT  02/01/2044 DD 02/01/14
            
375
  
   
FNMA    POOL #0AV9636
VAR RT  04/01/2044 DD 03/01/14
            
818
  
   
FNMA    POOL #0686026
VAR RT  04/01/2033 DD 04/01/03
            
175
  
   
FNMA    POOL #0725228
6.000% 03/01/2034 DD 02/01/04
            
1,914
  
   
FNMA    POOL #0756359
VAR RT  12/01/2033 DD 12/01/03
            
324
  
   
FNMA GTD REMIC P/T 12-117 DC
3.000% 01/25/2038 DD 09/01/12
            
1,310
  
   
FNMA GTD REMIC P/T 12-118 VA
3.000% 05/25/2022 DD 10/01/12
            
1,522
  
   
FNMA GTD REMIC P/T 13-13 MA
4.000% 01/25/2043 DD 02/01/13
            
1,139
  
   
FNMA GTD REMIC P/T 2013-83 A
3.500% 09/25/2039 DD 07/01/13
            
919
  
   
FNMA GTD REMIC P/T 15-92 PA
2.500% 12/25/2041 DD 11/01/15
            
565
  
   
FNMA GTD REMIC P/T 16-11 GA
2.500% 03/25/2046 DD 02/01/16
            
3,318
  
   
FNMA GTD REMIC P/T 16-43 MA
3.000% 10/25/2045 DD 06/01/16
            
1,829
  
   
FNMA GTD REMIC P/T 02-W2 AF6
STEP 05/25/2032 DD 03/01/02
            
52
  
   
FNMA GTD REMIC P/T 02-W11 AF6
VAR RT  11/25/2032 DD 09/01/02
            
43
  
   
FNMA GTD REMIC P/T 03-T3 2A6
VAR RT  05/25/2033 DD 02/01/03
            
428
  
   
FNMA GTD REMIC P/T 03-W10 2A
VAR RT 06/25/2043 DD 06/01/03
            
440
  
   
FNMA GTD REMIC P/T 04-T4 A9
VAR RT  08/25/2034 DD 07/01/04
            
305
  
   
GNMA GTD REMIC P/T 12-43 AJ
3.000% 05/20/2038 DD 04/01/12
            
428
  
   
US TREAS-CPI INFLAT
0.125% 04/15/2020 DD 04/15/15
            
18,460
  
   
US TREAS-CPI INFLAT
0.125% 07/15/2024 DD 07/15/14
            
1,500
  
   
FEDERAL HOME LN BK CONS BD
0.875% 08/05/2019 DD 08/04/16
            
3,263
  
   
FEDERAL HOME LN BK CONS BD
1.250% 06/08/2018 DD 05/04/12
            
5,753
  
   
TENNESSEE VALLEY AUTH BD
1.750% 10/15/2018 DD 09/27/13
            
706
  
   
U S TREASURY NOTE
1.750% 12/31/2020 DD 12/31/15
            
24,492
  
   
U S TREASURY NOTE
1.375% 04/30/2021 DD 04/30/16
            
37,709
  
   
U S TREASURY NOTE
0.875% 05/31/2018 DD 05/31/16
            
9,082
  
   
U S TREASURY NOTE
1.625% 06/30/2020 DD 06/30/15
            
51,184
  
   
U S TREASURY NOTE
1.625% 07/31/2020 DD 07/31/15
            
6,096
  
   
ROYAL BANK OF CANADA
1.200% 09/19/2017 DD 09/19/12
            
1,698
  
   
CANADA GOVERNMENT INTERNATIONA
0.875% 02/14/2017 DD 02/14/12
            
1,700
  
   
FINLAND GOVERNMENT INTERN 144A
1.125% 05/02/2017 DD 05/02/12
            
1,578
  
   
ASIAN DEVELOPMENT BANK
1.125% 03/15/2017 DD 01/18/12
            
1,680
  
   
INTER-AMERICAN DEVELOPMENT BAN
1.125% 03/15/2017 DD 01/11/12
            
2,501
  
   
INTERNATIONAL BANK FOR RECONST
1.125% 11/27/2019 DD 10/27/16
            
2,650
  
   
ALLY AUTO RECEIVABLES T SN1 A3
1.210% 12/20/2017 DD 03/31/15
            
318
  
   
CARMAX AUTO OWNER TRUST 2 2 A4
0.840% 11/15/2018 DD 05/16/13
            
585
  
   
FORD CREDIT FLOORPLAN MAS 5 A1
1.950% 11/15/2021 DD 12/13/16
            
2,890
  
   
HYUNDAI AUTO RECEIVABLES B A4
1.010% 02/15/2019 DD 06/27/13
            
549
  
   
NISSAN MASTER OWNER TRUST A A2
1.540% 06/15/2021 DD 07/19/16
            
944
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
 
   
NISSAN AUTO RECEIVABLES 2 B A4
1.310% 10/15/2019 DD 07/30/13
            
558
  
   
NISSAN AUTO RECEIVABLES 2 C A3
0.670% 08/15/2018 DD 12/11/13
            
491
  
   
BARCLAYS DRYROCK ISSUANCE 1 A
1.520% 05/16/2022 DD 08/03/16
            
1,139
  
   
CAPITAL ONE MULTI-ASSET A5 A5
1.660% 06/17/2024 DD 08/25/16
            
2,526
  
   
CHASE ISSUANCE TRUST A7 A7
1.380% 11/15/2019 DD 11/17/14
            
2,402
  
   
CHASE ISSUANCE TRUST A2 A
1.370% 06/15/2021 DD 06/17/16
            
2,327
  
   
CHASE ISSUANCE TRUST A5 A5
1.270% 07/15/2021 DD 08/11/16
            
2,812
  
   
CITIBANK CREDIT CARD ISS A1 A1
1.750% 11/19/2021 DD 12/08/16
            
4,829
  
   
ACCESS GROUP INC 1 A2
VAR RT  08/25/2023 DD 06/08/06
            
111
  
   
GOAL CAPITAL FUNDING TRUS 1 A3
VAR RT  09/25/2028 DD 06/07/07
            
383
  
   
HIGHER EDUCATION FUNDING 1 A4
VAR RT  02/25/2030 DD 03/10/05
            
316
  
   
NELNET STUDENT LOAN TRUST 2 A5
VAR RT  01/25/2030 DD 05/18/06
            
2,511
  
   
NELNET STUDENT LOAN TRUST 4 A3
VAR RT  06/22/2026 DD 11/15/05
            
461
  
   
SLM STUDENT LOAN TRUST 2 14 A5
VAR RT  01/25/2023 DD 12/11/03
            
262
  
   
SLM STUDENT LOAN TRUST 20 2 A5
VAR RT  07/25/2025 DD 02/23/06
            
2,121
  
   
SLM STUDENT LOAN TRUST 20 4 A5
VAR RT  10/27/2025 DD 04/20/06
            
485
  
   
SLC STUDENT LOAN TRUST 201 1 A
VAR RT  11/25/2042 DD 07/06/10
            
378
  
   
SLM STUDENT LOAN TRUST 20 3 A2
VAR RT  05/26/2020 DD 06/20/13
            
222
  
   
SLM STUDENT LOAN TRUST 20 1 A2
VAR RT  07/26/2021 DD 01/28/14
            
359
  
   
WACHOVIA STUDENT LOAN TRU 1 A5
VAR RT  01/26/2026 DD 11/29/05
            
197
  
   
AEP TEXAS CENTRAL TRANSIT 1 A1
0.880% 12/01/2018 DD 03/14/12
            
404
  
   
CENTERPOINT ENERGY TRANSI 1 A1
0.901% 04/15/2018 DD 01/19/12
            
354
  
   
OHIO PHASE-IN-RECOVERY FU 1 A2
2.049% 07/01/2020 DD 08/01/13
            
674
  
   
AEP TEXAS CENTRAL TRANSITION F
5.170% 01/01/2020 DD 10/11/06
            
754
  
   
BPCE SA
2.750% 12/02/2021 DD 12/02/16
            
820
  
   
BNP PARIBAS SA
2.375% 05/21/2020 DD 05/21/15
            
721
  
   
BANK OF NOVA SCOTIA/THE
1.450% 04/25/2018 DD 04/25/13
            
823
  
   
COMMONWEALTH BANK OF AUSTRALIA
1.400% 09/08/2017 DD 09/08/14
            
3,927
  
   
CREDIT SUISSE AG/NEW YORK NY
VAR RT  05/26/2017 DD 05/28/14
            
3,553
  
   
CREDIT SUISSE AG/NEW YORK NY
1.750% 01/29/2018 DD 01/29/15
            
1,248
  
   
JOHN DEERE CAPITAL CORP
2.550% 01/08/2021 DD 01/08/16
            
3,766
  
   
FIFTH THIRD BANK/CINCINNATI OH
1.350% 06/01/2017 DD 04/25/14
            
3,626
  
   
HSBC USA INC
1.500% 11/13/2017 DD 11/13/14
            
2,823
  
   
HUNTINGTON NATIONAL BANK/THE
VAR RT  04/24/2017 DD 04/24/14
            
1,625
  
   
JPMORGAN CHASE & CO
2.295% 08/15/2021 DD 08/08/16
            
3,582
  
   
JPMORGAN CHASE & CO
6.000% 01/15/2018 DD 12/20/07
            
3,494
  
   
JPMORGAN CHASE BANK NA
1.650% 09/23/2019 DD 09/23/16
            
569
  
   
LLOYDS BANK PLC
2.300% 11/27/2018 DD 11/27/13
            
2,893
  
   
MITSUBISHI UFJ FINANCIAL GROUP
2.950% 03/01/2021 DD 03/01/16
            
352
  
   
MORGAN STANLEY
7.300% 05/13/2019 DD 05/13/09
            
6,909
  
   
SANTANDER UK PLC
2.350% 09/10/2019 DD 09/10/14
            
1,926
  
   
TORONTO-DOMINION BANK/THE
1.450% 08/13/2019 DD 07/13/16
            
1,060
  
   
WACHOVIA CORP
5.750% 02/01/2018 DD 01/31/08
            
6,725
  
   
GENERAL ELECTRIC CO
1.625% 04/02/2018 DD 04/02/13
            
3,286
  
   
ROCKWELL AUTOMATION INC
2.050% 03/01/2020 DD 02/17/15
            
448
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
 
   
BEAR STEARNS COMMERCIAL T26 A4
VAR RT  01/12/2045 DD 04/01/07
            
891
  
   
CITIGROUP COMMERCIAL MOR C6 A4
VAR RT  12/10/2049 DD 07/01/07
            
2,522
  
   
CITIGROUP COMMERCIAL M GC17 A2
2.962% 11/10/2046 DD 12/01/13
            
701
  
   
JP MORGAN CHASE COMMER LDPX A3
5.420% 01/15/2049 DD 03/01/07
            
1,025
  
   
JP MORGAN CHASE COMMER CB20 A4
VAR RT  02/12/2051 DD 09/01/07
            
1,091
  
   
JP MORGAN CHASE COMMER LD12 A4
VAR RT  02/15/2051 DD 08/01/07
            
1,239
  
   
JPMBB COMMERCIAL MORTGA C14 A2
3.019% 08/15/2046 DD 08/01/13
            
715
  
   
MORGAN STANLEY BANK OF C13 A2
2.936% 11/15/2046 DD 12/01/13
            
1,244
  
   
WFRBS COMMERCIAL MORTGA C14 A2
2.133% 06/15/2046 DD 06/01/13
            
1,358
  
   
WELLS FARGO COMMERCIAL LC5 A2
1.844% 10/15/2045 DD 09/01/12
            
2,235
  
   
AUTOMATIC DATA PROCESSING INC
2.250% 09/15/2020 DD 09/15/15
            
528
  
   
COMCAST CORP
5.700% 05/15/2018 DD 05/07/08
            
3,325
  
   
WALT DISNEY CO/THE
1.650% 01/08/2019 DD 01/08/16
            
1,201
  
   
ANHEUSER-BUSCH INBEV FINANCE I
2.150% 02/01/2019 DD 01/27/14
            
3,673
  
   
ANHEUSER-BUSCH INBEV FINANCE I
1.900% 02/01/2019 DD 01/25/16
            
2,904
  
   
PHILIP MORRIS INTERNATIONAL IN
1.375% 02/25/2019 DD 02/25/16
            
495
  
   
DANAHER CORP
1.650% 09/15/2018 DD 09/15/15
            
175
  
   
DANAHER CORP
2.400% 09/15/2020 DD 09/15/15
            
749
  
   
GILEAD SCIENCES INC
2.350% 02/01/2020 DD 11/17/14
            
804
  
   
JOHNSON & JOHNSON
5.150% 07/15/2018 DD 06/23/08
            
4,229
  
   
MEDTRONIC INC
1.500% 03/15/2018 DD 03/15/15
            
1,675
  
   
PFIZER INC
1.450% 06/03/2019 DD 06/03/16
            
969
  
   
UNITEDHEALTH GROUP INC
1.625% 03/15/2019 DD 02/28/13
            
3,636
  
   
UNITEDHEALTH GROUP INC
1.900% 07/16/2018 DD 07/23/15
            
427
  
   
BERKSHIRE HATHAWAY INC
1.150% 08/15/2018 DD 08/15/16
            
423
  
   
METLIFE INC
VAR RT  12/15/2017 DD 09/15/14
            
576
  
   
BP CAPITAL MARKETS PLC
2.237% 05/10/2019 DD 02/10/14
            
3,647
  
   
CARDS II TRUST 1A A 144A
VAR RT  07/15/2021 DD 07/27/16
            
1,557
  
   
FORD CREDIT AUTO OWNE 2 A 144A
2.030% 12/15/2027 DD 06/28/16
            
1,279
  
   
GMF FLOORPLAN OWNER 1 A1 144A
1.960% 05/17/2021 DD 05/31/16
            
1,246
  
   
GOLDEN CREDIT CARD T 4A A 144A
1.390% 07/15/2019 DD 07/25/12
            
2,501
  
   
GOLDEN CREDIT CARD T 5A A 144A
1.600% 09/15/2021 DD 09/20/16
            
2,077
  
   
NATIONAL AUSTRALIA BANK L 144A
2.000% 06/20/2017 DD 06/20/12
            
1,304
  
   
TORONTO-DOMINION BANK/THE 144A
1.500% 03/13/2017 DD 03/13/12
            
701
  
   
BMW US CAPITAL LLC 144A
1.500% 04/11/2019 DD 04/11/16
            
891
  
   
BANK OF TOKYO-MITSUBISHI 144A
1.450% 09/08/2017 DD 09/08/14
            
1,847
  
   
MACQUARIE BANK LTD 144A
1.600% 10/27/2017 DD 10/27/14
            
1,350
  
   
MIZUHO BANK LTD 144A
1.700% 09/25/2017 DD 09/25/14
            
1,450
  
   
SIEMENS FINANCIERINGSMAAT 144A
1.700% 09/15/2021 DD 09/15/16
            
480
  
   
HOME DEPOT INC/THE
2.000% 04/01/2021 DD 02/12/16
            
1,414
  
   
STARBUCKS CORP
2.100% 02/04/2021 DD 02/04/16
            
199
  
   
APPLE INC
VAR RT  05/05/2017 DD 05/06/14
            
2,701
  
   
APPLE INC
2.250% 02/23/2021 DD 02/23/16
            
3,022
  
   
HONEYWELL INTERNATIONAL INC
1.850% 11/01/2021 DD 10/31/16
            
1,857
  
   
INTEL CORP
2.450% 07/29/2020 DD 07/29/15
            
1,901
  
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
 
 
   
INTERNATIONAL BUSINESS MACHINE
1.800% 05/17/2019 DD 02/19/16
            
3,076
  
   
ARIZONA PUBLIC SERVICE CO
2.200% 01/15/2020 DD 01/12/15
            
526
  
   
MIDAMERICAN ENERGY CO
2.400% 03/15/2019 DD 09/19/13
            
430
  
   
NORTHERN STATES POWER CO/MN
2.200% 08/15/2020 DD 08/11/15
            
701
  
   
PACIFIC GAS & ELECTRIC CO
8.250% 10/15/2018 DD 10/21/08
            
555
  
   
SOUTHERN CALIFORNIA EDISON CO
1.125% 05/01/2017 DD 05/09/14
            
2,250
  
   
FHLMC MULTICLASS MTG 3895 AM
5.000% 08/15/2039 DD 07/01/11
            
563
  
   
FHLMC MULTICLASS MTG 3896 PA
4.000% 03/15/2040 DD 07/01/11
            
831
  
   
FHLMC MULTICLASS MTG 4189 PA
3.500% 11/15/2042 DD 04/01/13
            
716
  
   
FHLMC MULTICLASS MTG K716 A2
3.130% 06/25/2021 DD 09/01/14
            
4,785
  
   
FHLMC MULTICLASS MTG K717 A2
2.991% 09/25/2021 DD 12/01/14
            
5,479
  
   
FHLMC MULTICLASS MTG K504 A2
VAR RT  09/25/2020 DD 01/01/16
            
1,729
  
   
FHLMC MULTICLASS MTG 4585 DA
3.000% 06/15/2045 DD 05/01/16
            
1,867
  
   
FHLMC MULTICLASS MTG 4594 PA
3.000% 11/15/2044 DD 06/01/16
            
1,951
  
   
FHLMC MULTICLASS MTG 4604 HA
2.500% 05/15/2045 DD 08/01/16
            
1,332
  
   
FHLMC MULTICLASS MTG 3601 PA
5.000% 09/15/2038 DD 11/01/09
            
34
  
                   
384,892
  
                       
 
*
DREYFUS GOVT CAS MGMT INST 289
VAR RT  12/31/2075 DD 06/03/97
            
24,733
  
   
ROYAL BANK OF CANADA
1.200% 09/19/2017 DD 09/19/12
            
1,308
  
   
CANADA GOVERNMENT INTERNATIONA
0.875% 02/14/2017 DD 02/14/12
            
1,300
  
   
KREDITANSTALT FUER WIEDERAUFBA
1.125% 08/06/2018 DD 07/15/15
            
3,287
  
   
AFRICAN DEVELOPMENT BANK
1.125% 03/15/2017 DD 01/19/12
            
1,500
  
   
ASIAN DEVELOPMENT BANK
1.125% 03/15/2017 DD 01/18/12
            
1,330
  
   
INTER-AMERICAN DEVELOPMENT BAN
1.125% 03/15/2017 DD 01/11/12
            
2,100
  
   
FHLMC   POOL #1B-1438
VAR RT  01/01/2034 DD 01/01/04
            
193
  
   
FHLMC   POOL #A6-4424
6.000% 08/01/2037 DD 08/01/07
            
1
  
   
FHLMC   POOL #A6-4440
6.000% 08/01/2037 DD 08/01/07
            
30
  
   
FHLMC   POOL #A6-4475
6.000% 08/01/2037 DD 08/01/07
            
2
  
   
FHLMC   POOL #A6-3809
6.000% 08/01/2037 DD 07/01/07
            
45
  
   
FHLMC   POOL #A6-3940
6.000% 08/01/2037 DD 08/01/07
            
2
  
   
FHLMC   POOL #A6-4100
6.000% 08/01/2037 DD 08/01/07
            
9
  
   
FHLMC   POOL #A6-4142
6.000% 08/01/2037 DD 08/01/07
            
15
  
   
FHLMC   POOL #A6-4136
6.000% 08/01/2037 DD 08/01/07
            
1
  
   
FHLMC   POOL #A6-5310
6.000% 09/01/2037 DD 09/01/07
            
11
  
   
FHLMC   POOL #A6-5398
6.000% 09/01/2037 DD 09/01/07
            
1
  
   
FHLMC   POOL #A6-4548
6.000% 08/01/2037 DD 08/01/07
            
3
  
   
FHLMC   POOL #A6-4907
6.000% 08/01/2037 DD 08/01/07
            
1
  
   
FHLMC   POOL #A6-5008
6.000% 08/01/2037 DD 08/01/07
            
1
  
   
FHLMC   POOL #A6-5518
6.000% 09/01/2037 DD 09/01/07
            
29
  
   
FHLMC   POOL #A6-5651
6.000% 09/01/2037 DD 09/01/07
            
7
  
   
FHLMC   POOL #A6-5652
6.000% 09/01/2037 DD 09/01/07
            
24
  
   
FHLMC   POOL #A6-5648
6.000% 09/01/2037 DD 09/01/07
            
1
  
   
FHLMC   POOL #A6-6092
6.000% 09/01/2037 DD 09/01/07
            
2
  
   
FHLMC   POOL #A6-6107
6.000% 09/01/2037 DD 09/01/07
            
2
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
 
   
FHLMC   POOL #A6-7052
6.000% 10/01/2037 DD 10/01/07
            
18
  
   
FHLMC   POOL #A6-7449
6.000% 11/01/2037 DD 10/01/07
            
26
  
   
FHLMC   POOL #A6-8883
6.000% 11/01/2037 DD 11/01/07
            
4
  
   
FHLMC   POOL #A6-8998
6.000% 11/01/2037 DD 11/01/07
            
34
  
   
FHLMC   POOL #A6-8241
6.000% 11/01/2037 DD 11/01/07
            
8
  
   
FHLMC   POOL #A6-8585
6.000% 11/01/2037 DD 11/01/07
            
6
  
   
FHLMC   POOL #A6-8626
6.000% 11/01/2037 DD 11/01/07
            
2
  
   
FHLMC   POOL #A6-9830
6.000% 12/01/2037 DD 12/01/07
            
26
  
   
FHLMC   POOL #A6-9858
6.000% 12/01/2037 DD 12/01/07
            
1
  
   
FHLMC   POOL #A6-9859
6.000% 12/01/2037 DD 12/01/07
            
4
  
   
FHLMC   POOL #A6-9265
6.000% 12/01/2037 DD 12/01/07
            
11
  
   
FHLMC   POOL #A6-9303
6.000% 11/01/2037 DD 11/01/07
            
10
  
   
FHLMC   POOL #A6-9654
6.000% 12/01/2037 DD 12/01/07
            
153
  
   
FHLMC   POOL #A7-0638
6.000% 12/01/2037 DD 12/01/07
            
1
  
   
FHLMC   POOL #A7-1450
6.000% 01/01/2038 DD 01/01/08
            
4
  
   
FHLMC   POOL #A7-2232
6.000% 02/01/2038 DD 01/01/08
            
3
  
   
FHLMC   POOL #A7-2300
6.000% 01/01/2038 DD 01/01/08
            
1
  
   
FHLMC   POOL #A7-4388
6.000% 03/01/2038 DD 03/01/08
            
3
  
   
FHLMC   POOL #A7-5218
6.000% 04/01/2038 DD 03/01/08
            
4
  
   
FHLMC   POOL #A7-6056
6.000% 04/01/2038 DD 04/01/08
            
7
  
   
FHLMC   POOL #A7-6467
6.000% 04/01/2038 DD 04/01/08
            
4
  
   
FHLMC   POOL #A7-6472
6.000% 04/01/2038 DD 04/01/08
            
17
  
   
FHLMC   POOL #A7-6474
6.000% 04/01/2038 DD 04/01/08
            
4
  
   
FHLMC   POOL #A7-6476
6.000% 04/01/2038 DD 04/01/08
            
16
  
   
FHLMC   POOL #A7-7211
6.000% 05/01/2038 DD 05/01/08
            
27
  
   
FHLMC   POOL #A7-7221
6.000% 05/01/2038 DD 05/01/08
            
6
  
   
FHLMC   POOL #A7-7222
6.000% 05/01/2038 DD 05/01/08
            
5
  
   
FHLMC   POOL #A7-7568
6.000% 06/01/2038 DD 05/01/08
            
5
  
   
FHLMC   POOL #A7-7766
6.000% 06/01/2038 DD 05/01/08
            
8
  
   
FHLMC   POOL #A7-7797
6.000% 05/01/2038 DD 05/01/08
            
1
  
   
FHLMC   POOL #A7-8625
6.000% 06/01/2038 DD 06/01/08
            
7
  
   
FHLMC   POOL #A7-9846
6.000% 07/01/2038 DD 07/01/08
            
4
  
   
FHLMC   POOL #A7-9755
6.000% 07/01/2038 DD 07/01/08
            
2
  
   
FHLMC   POOL #G0-3297
6.000% 09/01/2037 DD 09/01/07
            
11
  
   
FHLMC   POOL #G0-4080
6.000% 03/01/2038 DD 03/01/08
            
1
  
   
FHLMC   POOL #G0-4170
6.000% 04/01/2038 DD 04/01/08
            
26
  
   
FHLMC   POOL #G0-4185
6.000% 03/01/2038 DD 04/01/08
            
7
  
   
FHLMC   POOL #G0-3330
6.000% 09/01/2037 DD 09/01/07
            
27
  
   
FHLMC   POOL #G0-3332
6.000% 10/01/2037 DD 09/01/07
            
3
  
   
FHLMC   POOL #G0-3349
6.000% 10/01/2037 DD 09/01/07
            
24
  
   
FHLMC   POOL #G0-3445
6.000% 11/01/2037 DD 10/01/07
            
2
  
   
FHLMC   POOL #G0-3464
6.000% 11/01/2037 DD 10/01/07
            
4
  
   
FHLMC   POOL #G0-3517
6.000% 11/01/2037 DD 10/01/07
            
6
  
   
FHLMC   POOL #G0-3504
6.000% 11/01/2037 DD 10/01/07
            
13
  
   
FHLMC   POOL #G0-3551
6.000% 11/01/2037 DD 11/01/07
            
146
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
 
   
FHLMC   POOL #G0-3543
6.000% 11/01/2037 DD 11/01/07
            
4
  
   
FHLMC   POOL #G0-3581
6.000% 11/01/2037 DD 11/01/07
            
54
  
   
FHLMC   POOL #G0-3616
6.000% 12/01/2037 DD 11/01/07
            
65
  
   
FHLMC   POOL #G0-3646
6.000% 01/01/2038 DD 12/01/07
            
30
  
   
FHLMC   POOL #G0-3687
6.000% 01/01/2038 DD 12/01/07
            
4
  
   
FHLMC   POOL #G0-3698
6.000% 12/01/2037 DD 12/01/07
            
42
  
   
FHLMC   POOL #G0-3721
6.000% 12/01/2037 DD 12/01/07
            
27
  
   
FHLMC   POOL #G0-3776
6.000% 01/01/2038 DD 01/01/08
            
68
  
   
FHLMC   POOL #G0-3781
6.000% 01/01/2038 DD 01/01/08
            
193
  
   
FHLMC   POOL #G0-3819
6.000% 01/01/2038 DD 01/01/08
            
16
  
   
FHLMC   POOL #G0-3826
6.000% 01/01/2038 DD 01/01/08
            
3
  
   
FHLMC   POOL #G0-3850
6.000% 02/01/2038 DD 01/01/08
            
6
  
   
FHLMC   POOL #G0-3926
6.000% 02/01/2038 DD 02/01/08
            
19
  
   
FHLMC   POOL #G0-3941
6.000% 02/01/2038 DD 02/01/08
            
319
  
   
FHLMC   POOL #G0-3951
6.000% 01/01/2038 DD 02/01/08
            
4
  
   
FHLMC   POOL #G0-5029
6.000% 09/01/2038 DD 11/01/08
            
4
  
   
FHLMC   POOL #G0-4230
6.000% 04/01/2038 DD 04/01/08
            
21
  
   
FHLMC   POOL #G0-4301
6.000% 03/01/2038 DD 05/01/08
            
12
  
   
FHLMC   POOL #G0-4316
6.000% 05/01/2038 DD 05/01/08
            
6
  
   
FHLMC   POOL #G0-4410
6.000% 06/01/2038 DD 06/01/08
            
2
  
   
FHLMC   POOL #G0-4411
6.000% 06/01/2038 DD 06/01/08
            
53
  
   
FHLMC   POOL #G0-4447
6.000% 06/01/2038 DD 06/01/08
            
2
  
   
FHLMC   POOL #G0-4552
6.000% 09/01/2038 DD 08/01/08
            
1
  
   
FHLMC   POOL #G0-4575
6.000% 08/01/2038 DD 08/01/08
            
1
  
   
FHLMC   POOL #G0-4576
6.000% 09/01/2038 DD 08/01/08
            
96
  
   
FHLMC   POOL #G0-4610
6.000% 07/01/2038 DD 08/01/08
            
3
  
   
FHLMC   POOL #G0-4607
6.000% 09/01/2038 DD 08/01/08
            
42
  
   
FHLMC   POOL #G0-4645
6.000% 07/01/2038 DD 08/01/08
            
54
  
   
FHLMC   POOL #G0-4713
6.000% 10/01/2038 DD 09/01/08
            
56
  
   
FHLMC   POOL #G0-4754
6.000% 09/01/2038 DD 09/01/08
            
2
  
   
FHLMC   POOL #G0-4757
6.000% 08/01/2038 DD 10/01/08
            
8
  
   
FHLMC   POOL #G0-4765
6.000% 09/01/2038 DD 09/01/08
            
171
  
   
FHLMC   POOL #G0-4912
6.000% 10/01/2038 DD 11/01/08
            
3
  
   
FHLMC   POOL #G0-5940
6.000% 04/01/2040 DD 07/01/10
            
20
  
   
FHLMC   POOL #G0-5352
6.000% 02/01/2039 DD 03/01/09
            
4
  
   
FHLMC   POOL #G0-5369
6.000% 03/01/2039 DD 03/01/09
            
20
  
   
FHLMC   POOL #G0-5531
6.000% 08/01/2038 DD 07/01/09
            
8
  
   
FHLMC   POOL #G0-5666
6.000% 04/01/2038 DD 10/01/09
            
4
  
   
FHLMC   POOL #G0-5830
6.000% 12/01/2039 DD 03/01/10
            
4
  
   
FHLMC   POOL #G0-6789
6.000% 05/01/2040 DD 10/01/11
            
52
  
   
FHLMC   POOL #G0-6877
6.000% 05/01/2040 DD 01/01/12
            
7
  
   
FHLMC   POOL #G0-6066
6.000% 05/01/2040 DD 10/01/10
            
75
  
   
FHLMC   POOL #G0-6219
6.000% 05/01/2040 DD 01/01/11
            
11
  
   
FHLMC   POOL #G0-6249
6.000% 05/01/2040 DD 02/01/11
            
29
  
   
FHLMC   POOL #G0-6232
6.000% 05/01/2040 DD 01/01/11
            
15
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
   
FHLMC   POOL #G0-6387
6.000% 11/01/2039 DD 04/01/11
            
9
  
   
FHLMC   POOL #G0-6402
6.000% 03/01/2039 DD 04/01/11
            
4
  
   
FHLMC   POOL #G0-6673
6.000% 11/01/2038 DD 08/01/11
            
5
  
   
FHLMC   POOL #G0-6954
6.000% 05/01/2040 DD 04/01/12
            
67
  
   
FHLMC   POOL #G0-6995
6.000% 05/01/2040 DD 04/01/12
            
12
  
   
FHLMC   POOL #G0-7222
6.000% 04/01/2040 DD 11/01/12
            
75
  
   
FHLMC   POOL #G0-7311
6.000% 05/01/2040 DD 02/01/13
            
11
  
   
FHLMC   POOL #G1-4183
5.000% 07/01/2025 DD 06/01/11
            
302
  
   
FHLMC   POOL #G0-8079
5.000% 09/01/2035 DD 09/01/05
            
903
  
   
FHLMC   POOL #G0-8222
6.000% 09/01/2037 DD 09/01/07
            
2
  
   
FHLMC   POOL #G0-8227
6.000% 10/01/2037 DD 10/01/07
            
1
  
   
FHLMC   POOL #G0-8264
6.000% 04/01/2038 DD 04/01/08
            
2
  
   
FHLMC   POOL #G0-8276
6.000% 06/01/2038 DD 06/01/08
            
5
  
   
FHLMC   POOL #A8-0885
6.000% 08/01/2038 DD 08/01/08
            
3
  
   
FHLMC   POOL #A8-1068
6.000% 08/01/2038 DD 08/01/08
            
25
  
   
FHLMC   POOL #A8-1346
6.000% 09/01/2038 DD 08/01/08
            
6
  
   
FHLMC   POOL #A8-1466
6.000% 09/01/2038 DD 08/01/08
            
1
  
   
FHLMC   POOL #A8-1618
6.000% 09/01/2038 DD 09/01/08
            
4
  
   
FHLMC   POOL #A8-1660
6.000% 09/01/2038 DD 09/01/08
            
10
  
   
FHLMC   POOL #A8-2394
6.000% 10/01/2038 DD 10/01/08
            
6
  
   
FHLMC   POOL #A8-2474
6.000% 10/01/2038 DD 10/01/08
            
8
  
   
FHLMC   POOL #A8-2841
6.000% 11/01/2038 DD 10/01/08
            
6
  
   
FHLMC   POOL #C0-3475
6.000% 04/01/2040 DD 04/01/10
            
35
  
   
FHLMC   POOL #C0-3325
6.000% 02/01/2039 DD 02/01/09
            
27
  
   
FHLMC   POOL #A8-3801
6.000% 12/01/2038 DD 12/01/08
            
6
  
   
FHLMC   POOL #A8-3804
6.000% 01/01/2039 DD 12/01/08
            
2
  
   
FHLMC   POOL #A8-4705
6.000% 02/01/2039 DD 02/01/09
            
1
  
   
FHLMC   POOL #A8-5741
6.000% 04/01/2039 DD 04/01/09
            
8
  
   
FHLMC   POOL #A8-6739
6.000% 06/01/2039 DD 06/01/09
            
26
  
   
FHLMC   POOL #A8-7819
6.000% 08/01/2039 DD 08/01/09
            
7
  
   
FHLMC   POOL #A8-8869
6.000% 11/01/2038 DD 01/01/09
            
1
  
   
FHLMC   POOL #A8-8904
6.000% 09/01/2039 DD 09/01/09
            
7
  
   
FHLMC   POOL #Q0-4439
3.500% 11/01/2041 DD 10/01/11
            
177
  
   
FHLMC   POOL #U9-0065
3.500% 08/01/2042 DD 08/01/12
            
751
  
   
FHLMC   POOL #U9-5026
3.500% 07/01/2042 DD 07/01/12
            
704
  
   
FHLMC   POOL #V8-0804
6.000% 01/01/2039 DD 11/01/13
            
250
  
   
FHLMC   POOL #G6-7700
3.500% 08/01/2046 DD 08/01/16
            
601
  
   
FHLMC   POOL #1B-0118
VAR RT  08/01/2031 DD 08/01/01
            
13
  
   
FNMA    POOL #0AI8618
4.000% 12/01/2041 DD 12/01/11
            
1,462
  
   
FNMA    POOL #0AJ3107
4.000% 01/01/2042 DD 01/01/12
            
1,086
  
   
FNMA    POOL #0AJ4050
4.000% 10/01/2041 DD 10/01/11
            
1,291
  
   
FNMA    POOL #0AL0013
6.000% 04/01/2040 DD 02/01/11
            
496
  
   
FNMA    POOL #0AL7232
3.500% 09/01/2045 DD 08/01/15
            
1,430
  
   
FNMA    POOL #0AL7495
3.500% 10/01/2045 DD 10/01/15
            
959
  
   
FNMA    POOL #0AL7910
3.500% 02/01/2045 DD 12/01/15
            
2,557
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
   
FNMA    POOL #0AL7951
3.500% 01/01/2046 DD 01/01/16
            
873
  
   
FNMA    POOL #0AQ0817
3.500% 12/01/2042 DD 12/01/12
            
4,260
  
   
FNMA    POOL #0AR8305
3.500% 05/01/2043 DD 05/01/13
            
5,892
  
   
FNMA    POOL #0AS6188
3.500% 11/01/2045 DD 10/01/15
            
1,897
  
   
FNMA    POOL #0AT8390
3.500% 06/01/2043 DD 06/01/13
            
3,778
  
   
FNMA    POOL #0AX3358
3.500% 11/01/2045 DD 11/01/15
            
35
  
   
FNMA    POOL #0AX6373
3.500% 02/01/2045 DD 02/01/15
            
26
  
   
FNMA    POOL #0AX7714
3.500% 02/01/2045 DD 02/01/15
            
53
  
   
FNMA    POOL #0AY2930
3.500% 04/01/2045 DD 04/01/15
            
27
  
   
FNMA    POOL #0AY4450
3.500% 02/01/2045 DD 02/01/15
            
48
  
   
FNMA    POOL #0AY4203
3.500% 05/01/2045 DD 05/01/15
            
226
  
   
FNMA    POOL #0AY4781
3.500% 03/01/2045 DD 03/01/15
            
35
  
   
FNMA    POOL #0AY6303
3.500% 02/01/2045 DD 03/01/15
            
144
  
   
FNMA    POOL #0AZ0054
3.500% 07/01/2045 DD 07/01/15
            
29
  
   
FNMA    POOL #0AZ1223
3.500% 06/01/2045 DD 06/01/15
            
44
  
   
FNMA    POOL #0AZ1367
3.500% 05/01/2045 DD 05/01/15
            
35
  
   
FNMA    POOL #0AZ2604
3.500% 08/01/2045 DD 08/01/15
            
27
  
   
FNMA    POOL #0AZ2619
3.500% 08/01/2045 DD 08/01/15
            
36
  
   
FNMA    POOL #0AZ2637
3.500% 09/01/2045 DD 09/01/15
            
69
  
   
FNMA    POOL #0AZ2665
3.500% 10/01/2045 DD 10/01/15
            
79
  
   
FNMA    POOL #0AZ2709
3.500% 06/01/2045 DD 06/01/15
            
26
  
   
FNMA    POOL #0AZ5196
3.500% 08/01/2045 DD 08/01/15
            
24
  
   
FNMA    POOL #0725228
6.000% 03/01/2034 DD 02/01/04
            
1,840
  
   
FNMA    POOL #0728766
VAR RT  07/01/2033 DD 07/01/03
            
141
  
   
FNMA    POOL #0AZ8683
3.500% 01/01/2046 DD 01/01/16
            
31
  
   
FNMA    POOL #0BA3553
3.500% 11/01/2045 DD 11/01/15
            
27
  
   
FNMA    POOL #0BA2899
3.500% 11/01/2045 DD 11/01/15
            
129
  
   
FNMA    POOL #0BA2978
3.500% 11/01/2045 DD 11/01/15
            
28
  
   
FNMA    POOL #0BA3084
3.500% 12/01/2045 DD 12/01/15
            
25
  
   
FNMA    POOL #0BA5324
3.500% 11/01/2045 DD 11/01/15
            
39
  
   
FNMA    POOL #0BA4700
3.500% 11/01/2045 DD 11/01/15
            
29
  
   
FNMA    POOL #0BC3481
3.500% 02/01/2046 DD 02/01/16
            
29
  
   
FNMA    POOL #0890375
4.500% 08/01/2023 DD 10/01/11
            
372
  
   
FNMA    POOL #0AB2775
4.500% 04/01/2041 DD 03/01/11
            
1,120
  
   
FNMA    POOL #0MA0878
4.000% 10/01/2031 DD 09/01/11
            
1,417
  
   
FNMA GTD REMIC P/T 12-M9 A2
2.482% 04/25/2022 DD 08/01/12
            
351
  
   
FNMA GTD REMIC P/T 13-13 MA
4.000% 01/25/2043 DD 02/01/13
            
871
  
   
FNMA GTD REMIC P/T 2013-83 A
3.500% 09/25/2039 DD 07/01/13
            
735
  
   
FNMA GTD REMIC P/T 15-92 PA
2.500% 12/25/2041 DD 11/01/15
            
630
  
   
FNMA GTD REMIC P/T 16-43 MA
3.000% 10/25/2045 DD 06/01/16
            
2,479
  
   
FNMA GTD REMIC P/T 02-W2 AF6
STEP 05/25/2032 DD 03/01/02
            
52
  
   
FNMA GTD REMIC P/T 02-W11 AF6
VAR RT  11/25/2032 DD 09/01/02
            
86
  
   
FNMA GTD REMIC P/T 04-W1 2A2
7.000% 12/25/2033 DD 01/01/04
            
816
  
   
FNMA GTD REMIC P/T 05-19 PA
5.500% 07/25/2034 DD 02/01/05
            
680
  
   
GNMA II POOL #0MA0414
VAR RT  09/20/2042 DD 09/01/12
            
511
  
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
   
GNMA II POOL #0MA1601
4.000% 01/20/2044 DD 01/01/14
            
6,290
  
   
GNMA II POOL #0MA2679
4.000% 03/20/2045 DD 03/01/15
            
8,661
  
   
GNMA II POOL #0MA2149
4.000% 08/20/2044 DD 08/01/14
            
8,110
  
   
GNMA II POOL #0MA2304
4.000% 10/20/2044 DD 10/01/14
            
330
  
   
GNMA II POOL #0MA3598
4.000% 04/20/2046 DD 04/01/16
            
2,827
  
   
GNMA II POOL #0MA2755
4.000% 04/20/2045 DD 04/01/15
            
342
  
   
GNMA II POOL #0MA2893
4.000% 06/20/2045 DD 06/01/15
            
5,493
  
   
GNMA II POOL #0MA3106
4.000% 09/20/2045 DD 09/01/15
            
9,637
  
   
GNMA II POOL #0MA3377
4.000% 01/20/2046 DD 01/01/16
            
2,642
  
   
GNMA II POOL #0MA3664
5.046% 05/20/2046 DD 05/01/16
            
4,599
  
   
GNMA II POOL #0MA3804
4.000% 07/20/2046 DD 07/01/16
            
1,277
  
   
GNMA II POOL #0MA3875
4.000% 07/20/2046 DD 08/01/16
            
980
  
   
GNMA II POOL #0005280
4.000% 01/20/2042 DD 01/01/12
            
1,353
  
   
GNMA II POOL #0004802
5.000% 09/20/2040 DD 09/01/10
            
1,697
  
   
GNMA II POOL #0005082
4.500% 06/20/2041 DD 06/01/11
            
1,217
  
   
GNMA II POOL #0005115
4.500% 07/20/2041 DD 07/01/11
            
1,261
  
   
KING INTERNATIONAL LEASING LLC
2.754% 10/15/2022 DD 11/17/10
            
929
  
   
SAN CLEMENTE LEASING LLC
3.030% 11/22/2022 DD 12/08/10
            
891
  
   
US TREAS-CPI INFLAT
0.625% 01/15/2024 DD 01/15/14
            
3,479
  
   
US TREAS-CPI INFLAT
0.125% 04/15/2019 DD 04/15/14
            
1,253
  
   
US TREAS-CPI INFLAT
1.125% 01/15/2021 DD 01/15/11
            
1,739
  
   
US TREAS-CPI INFLAT
0.125% 01/15/2023 DD 01/15/13
            
3,846
  
   
US TREAS-CPI INFLAT
0.125% 04/15/2018 DD 04/15/13
            
7,281
  
   
US TREAS-CPI INFLAT
0.375% 07/15/2023 DD 07/15/13
            
2,096
  
   
US TREAS-CPI INFLAT
0.125% 07/15/2024 DD 07/15/14
            
200
  
   
FEDERAL NATL MTG ASSN
6.625% 11/15/2030 DD 11/03/00
            
3,895
  
   
FEDERAL NATL MTG ASSN
0.875% 10/26/2017 DD 09/24/12
            
335
  
   
FEDERAL NATL MTG ASSN
1.875% 09/24/2026 DD 09/27/16
            
2,940
  
   
FEDERAL NATL MTG ASSN
0.875% 12/20/2017 DD 10/30/12
            
3,998
  
   
FEDERAL HOME LN MTG CORP
4.875% 06/13/2018 DD 06/13/08
            
2,636
  
   
FEDERAL HOME LN MTG CORP
3.750% 03/27/2019 DD 03/27/09
            
9,060
  
   
FEDERAL HOME LN MTG CORP
1.250% 08/01/2019 DD 07/30/12
            
2,988
  
   
TENNESSEE VALLEY AUTH BD
3.875% 02/15/2021 DD 02/08/11
            
2,868
  
   
U S TREASURY BD CPN STRIP
0.000% 02/15/2036 DD 02/15/06
            
676
  
   
U S TREASURY BOND
3.750% 11/15/2043 DD 11/15/13
            
4,252
  
   
U S TREASURY BOND
3.000% 11/15/2045 DD 11/15/15
            
39
  
   
U S TREASURY NOTE
2.375% 08/15/2024 DD 08/15/14
            
3,396
  
   
U S TREASURY NOTE
2.250% 11/15/2024 DD 11/15/14
            
5,884
  
   
U S TREASURY NOTE
1.375% 09/30/2020 DD 09/30/15
            
8,206
  
   
U S TREASURY NOTE
2.250% 11/15/2025 DD 11/15/15
            
16,654
  
   
U S TREASURY NOTE
1.750% 12/31/2020 DD 12/31/15
            
20,774
  
   
U S TREASURY NOTE
1.375% 04/30/2021 DD 04/30/16
            
10,477
  
   
U S TREASURY NOTE
0.875% 05/31/2018 DD 05/31/16
            
1,996
  
   
U S TREASURY NOTE
2.250% 12/31/2023 DD 12/31/16
            
13,135
  
   
U S TREASURY NOTE
1.750% 10/31/2020 DD 10/31/13
            
180
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
   
U S TREASURY NOTE
1.500% 05/31/2020 DD 05/31/15
            
3,390
  
   
U S TREASURY NOTE
1.625% 06/30/2020 DD 06/30/15
            
22,581
  
   
U S TREASURY NOTE
1.625% 07/31/2020 DD 07/31/15
            
7,745
  
   
FHLMC MULTICLASS MTG 3895 AM
5.000% 08/15/2039 DD 07/01/11
            
355
  
   
FHLMC MULTICLASS MTG 3896 PA
4.000% 03/15/2040 DD 07/01/11
            
670
  
   
FHLMC MULTICLASS MTG 4016 KV
4.000% 02/15/2025 DD 03/01/12
            
1,839
  
   
FHLMC MULTICLASS CTF K715 A2
2.856% 01/25/2021 DD 05/01/14
            
4,428
  
   
FHLMC MULTICLASS MTG
3.389% 03/25/2024 DD 06/01/14
            
3,038
  
   
FHLMC MULTICLASS MTG K716 A2
3.130% 06/25/2021 DD 09/01/14
            
5,201
  
   
FHLMC MULTICLASS MTG K717 A2
2.991% 09/25/2021 DD 12/01/14
            
5,893
  
   
FHLMC MULTICLASS MTG K-044 A2
2.811% 01/25/2025 DD 04/01/15
            
2,406
  
   
FHLMC MULTICLASS MTG 4570 PA
3.000% 03/15/2044 DD 04/01/16
            
1,957
  
   
FHLMC MULTICLASS MTG 4585 DA
3.000% 06/15/2045 DD 05/01/16
            
2,982
  
   
FHLMC MULTICLASS MTG 4594 PA
3.000% 11/15/2044 DD 06/01/16
            
2,173
  
   
FHLMC MULTICLASS MTG 4604 HA
2.500% 05/15/2045 DD 08/01/16
            
1,478
  
   
FHLMC MULTICLASS MTG 3601 PA
5.000% 09/15/2038 DD 11/01/09
            
32
  
   
CARMAX AUTO OWNER TRUST 2 2 A4
0.840% 11/15/2018 DD 05/16/13
            
475
  
   
FORD CREDIT FLOORPLAN MAS 5 A1
1.950% 11/15/2021 DD 12/13/16
            
3,288
  
   
HYUNDAI AUTO RECEIVABLES B A4
1.010% 02/15/2019 DD 06/27/13
            
503
  
   
NISSAN AUTO RECEIVABLES 2 B A4
1.310% 10/15/2019 DD 07/30/13
            
884
  
   
CAPITAL ONE MULTI-ASSET A5 A5
1.660% 06/17/2024 DD 08/25/16
            
2,721
  
   
CHASE ISSUANCE TRUST A7 A7
2.160% 09/16/2024 DD 10/09/12
            
2,046
  
   
CHASE ISSUANCE TRUST A2 A
1.370% 06/15/2021 DD 06/17/16
            
2,525
  
   
CITIBANK CREDIT CARD ISS A1 A1
1.750% 11/19/2021 DD 12/08/16
            
5,426
  
   
DISCOVER CARD EXECUTION A3 A3
1.850% 10/16/2023 DD 04/19/16
            
2,595
  
   
SYNCHRONY CREDIT CARD MAST 2 A
2.220% 01/15/2022 DD 02/02/12
            
3,527
  
   
CHASE EDUCATION LOAN TRUS A A3
VAR RT  12/28/2023 DD 07/02/07
            
228
  
   
NELNET STUDENT LOAN TRUST 1 A5
VAR RT  08/23/2027 DD 02/21/06
            
1,381
  
   
NORTHSTAR EDUCATION FINAN 2 A3
VAR RT  07/30/2018 DD 12/15/04
            
99
  
   
SLC STUDENT LOAN TRUST 20 2 A5
VAR RT  09/15/2026 DD 09/19/06
            
1,556
  
   
SLM STUDENT LOAN TRUST 20 3 A5
VAR RT  10/25/2024 DD 04/13/05
            
783
  
   
SLM STUDENT LOAN TRUST 20 8 A4
VAR RT  01/25/2028 DD 09/20/05
            
5,081
  
   
CENTERPOINT ENERGY TRANSI 1 A3
3.028% 10/15/2025 DD 01/19/12
            
1,833
  
   
AEP TEXAS CENTRAL TRANSITION F
5.170% 01/01/2020 DD 10/11/06
            
592
  
   
BNP PARIBAS SA
2.375% 05/21/2020 DD 05/21/15
            
796
  
   
BRANCH BANKING & TRUST CO
3.625% 09/16/2025 DD 09/16/15
            
1,779
  
   
CREDIT SUISSE AG/NEW YORK NY
3.000% 10/29/2021 DD 10/29/14
            
1,691
  
   
JPMORGAN CHASE & CO
3.250% 09/23/2022 DD 09/24/12
            
2,503
  
   
MITSUBISHI UFJ FINANCIAL GROUP
3.850% 03/01/2026 DD 03/01/16
            
334
  
   
MORGAN STANLEY
4.000% 07/23/2025 DD 07/23/15
            
51
  
   
MORGAN STANLEY
VAR RT  10/24/2023 DD 10/24/16
            
682
  
   
MORGAN STANLEY
2.650% 01/27/2020 DD 01/27/15
            
2,085
  
   
MORGAN STANLEY
3.700% 10/23/2024 DD 10/23/14
            
1,543
  
   
TD AMERITRADE HOLDING CORP
2.950% 04/01/2022 DD 03/09/15
            
861
  
   
MUFG UNION BANK NA
2.250% 05/06/2019 DD 05/06/14
            
1,452
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
   
WELLS FARGO & CO
3.000% 10/23/2026 DD 10/25/16
            
1,810
  
   
ROCKWELL AUTOMATION INC
2.875% 03/01/2025 DD 02/17/15
            
833
  
   
BEAR STEARNS COMMERCIA PW16 A4
VAR RT  06/11/2040 DD 06/01/07
            
2,689
  
   
CITIGROUP COMMERCIAL MOR C6 A4
VAR RT  12/10/2049 DD 07/01/07
            
3,228
  
   
CITIGROUP COMMERCIAL M GC17 A2
2.962% 11/10/2046 DD 12/01/13
            
551
  
   
GS MORTGAGE SECURITIES GC13 A5
VAR RT  07/10/2046 DD 07/01/13
            
1,054
  
   
JP MORGAN CHASE COMMER LDPX A3
5.420% 01/15/2049 DD 03/01/07
            
818
  
   
JP MORGAN CHASE COMMER CB20 A4
VAR RT  02/12/2051 DD 09/01/07
            
834
  
   
JP MORGAN CHASE COMMER LD12 A4
VAR RT  02/15/2051 DD 08/01/07
            
969
  
   
JPMBB COMMERCIAL MORTGA C12 A5
3.664% 07/15/2045 DD 06/01/13
            
842
  
   
LB-UBS COMMERCIAL MORTGA C1 A2
VAR RT  04/15/2041 DD 04/11/08
            
1,020
  
   
MORGAN STANLEY BANK OF C13 A2
2.936% 11/15/2046 DD 12/01/13
            
979
  
   
UBS-BARCLAYS COMMERCIAL C6 A4
3.244% 04/10/2046 DD 04/01/13
            
869
  
   
WELLS FARGO COMMERCIAL LC5 A3
2.918% 10/15/2045 DD 09/01/12
            
2,544
  
   
WELLS FARGO COMMERCIAL LC5 ASB
2.528% 10/15/2045 DD 09/01/12
            
976
  
   
AUTOMATIC DATA PROCESSING INC
3.375% 09/15/2025 DD 09/15/15
            
231
  
   
PRESIDENT & FELLOWS OF HARVARD
2.300% 10/01/2023 DD 05/06/13
            
623
  
   
COMCAST CORP
3.375% 08/15/2025 DD 05/27/15
            
830
  
   
WALT DISNEY CO/THE
1.100% 12/01/2017 DD 11/30/12
            
1,424
  
   
ANHEUSER-BUSCH INBEV FINANCE I
2.650% 02/01/2021 DD 01/25/16
            
2,464
  
   
ANHEUSER-BUSCH INBEV FINANCE I
3.650% 02/01/2026 DD 01/25/16
            
2,132
  
   
DIAGEO CAPITAL PLC
1.500% 05/11/2017 DD 05/11/12
            
1,602
  
   
GLAXOSMITHKLINE CAPITAL PLC
2.850% 05/08/2022 DD 05/09/12
            
1,208
  
   
HOWARD HUGHES MEDICAL INSTITUT
3.500% 09/01/2023 DD 07/22/13
            
344
  
   
JOHNSON & JOHNSON
5.150% 07/15/2018 DD 06/23/08
            
2,854
  
   
MEDTRONIC INC
2.500% 03/15/2020 DD 03/15/15
            
329
  
   
MEDTRONIC INC
3.150% 03/15/2022 DD 03/15/15
            
538
  
   
UNITEDHEALTH GROUP INC
2.750% 02/15/2023 DD 10/22/12
            
2,063
  
   
PRECISION CASTPARTS CORP
2.500% 01/15/2023 DD 12/20/12
            
1,059
  
   
METLIFE INC
VAR RT  09/15/2023 DD 09/10/13
            
108
  
   
BP CAPITAL MARKETS PLC
4.500% 10/01/2020 DD 10/01/10
            
1,985
  
   
CONOCOPHILLIPS CO
3.350% 11/15/2024 DD 11/12/14
            
577
  
   
CONOCOPHILLIPS CO
4.950% 03/15/2026 DD 03/08/16
            
359
  
   
CONOCOPHILLIPS CO
4.200% 03/15/2021 DD 03/08/16
            
53
  
   
OCCIDENTAL PETROLEUM CORP
3.400% 04/15/2026 DD 04/04/16
            
756
  
   
FORD CREDIT AUTO OWNE 2 A 144A
2.030% 12/15/2027 DD 06/28/16
            
1,377
  
   
GMF FLOORPLAN OWNER 1 A1 144A
1.960% 05/17/2021 DD 05/31/16
            
1,296
  
   
GOLDEN CREDIT CARD T 4A A 144A
1.390% 07/15/2019 DD 07/25/12
            
2,001
  
   
GOLDEN CREDIT CARD T 5A A 144A
1.600% 09/15/2021 DD 09/20/16
            
2,275
  
   
NATIONAL AUSTRALIA BANK L 144A
2.000% 06/20/2017 DD 06/20/12
            
1,304
  
   
BAT INTERNATIONAL FINANCE 144A
3.950% 06/15/2025 DD 06/15/15
            
440
  
   
BANK OF TOKYO-MITSUBISHI 144A
2.150% 09/14/2018 DD 09/14/15
            
1,101
  
   
CREDIT AGRICOLE SA/LONDON 144A
2.500% 04/15/2019 DD 04/15/14
            
1,986
  
   
KKR GROUP FINANCE CO LLC 144A
6.375% 09/29/2020 DD 09/29/10
            
450
  
   
MIZUHO FINANCIAL GROUP IN 144A
2.632% 04/12/2021 DD 04/12/16
            
965
  
 
 
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
 
   
NEW YORK LIFE GLOBAL FUND 144A
1.650% 05/15/2017 DD 02/14/12
            
1,905
  
   
SCHLUMBERGER INVESTMENT S 144A
3.300% 09/14/2021 DD 09/14/11
            
1,394
  
   
FEDERAL REALTY INVESTMENT TRUS
2.550% 01/15/2021 DD 09/28/15
            
375
  
   
HOME DEPOT INC/THE
3.750% 02/15/2024 DD 09/10/13
            
1,026
  
   
APPLE INC
2.850% 05/06/2021 DD 05/06/14
            
2,093
  
   
INTEL CORP
3.700% 07/29/2025 DD 07/29/15
            
1,055
  
   
INTERNATIONAL BUSINESS MACHINE
3.625% 02/12/2024 DD 02/12/14
            
2,083
  
   
MICROSOFT CORP
3.125% 11/03/2025 DD 11/03/15
            
859
  
   
ORACLE CORP
2.500% 05/15/2022 DD 05/05/15
            
695
  
   
QUALCOMM INC
3.000% 05/20/2022 DD 05/20/15
            
177
  
   
CISCO SYSTEMS INC
2.200% 02/28/2021 DD 02/29/16
            
599
  
   
CISCO SYSTEMS INC
1.400% 09/20/2019 DD 09/20/16
            
1,632
  
   
VENDEE MORTGAGE TRUST 199 1 2Z
7.750% 05/15/2022 DD 06/01/92
            
418
  
                   
459,113
  
                       
 
*
DREYFUS GOVERNMENT CASH
   MANAGEMENT FUND
REGISTERED INVESTMENT
   COMPANY: 30,575,194 UNITS
            
30,575
  
                       
   
Adjustment from fair value to contract value for fully benefit-responsive investment contracts
              
(29,741
)
                       
   
TOTAL INTEREST INCOME FUND
        
**
    
844,840
  
                       
Global Equity Fund
                  
 
*
BLACKROCK US EQUITY MARKET
   FUND F
COMMON/COLLECTIVE TRUST FUND: 12,799,041 UNITS
            
222,809
  
 
*
BLACKROCK EAFE EQUITY MARKET
   INDEX FUND F
COMMON/COLLECTIVE TRUST FUND: 3,662,748 UNITS
            
63,762
  
   
TOTAL GLOBAL EQUITY FUND
        
**
    
286,571
  
                       
Mid and Small Cap Stock Fund
                  
 
*
BLACKROCK EXTENDED
   EQUITY MARKET FUND F
 
COMMON/COLLECTIVE TRUST
   FUND: 11,103,915 UNITS
      
**
    
612,182
  
                       
International Stock Fund
                  
 
*
BLACKROCK EAFE
   EQUITY INDEX FUND F
COMMON/COLLECTIVE TRUST
   FUND: 9,427,718 Units
      
**
    
321,719
  
                       
Interest Bearing Cash
                  
 
*
DREYFUS GOVERNMENT CASH
   MANAGEMENT FUND
REGISTERED INVESTMENT
   COMPANY: 4,813,129 UNITS
      
**
    
2,519
  
 
 
 
24
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, 2016
(Dollars in Thousands)
                   
 
Identity of Issue
  
Description of Investment
  
Cost
  
Current Value
                       
Loan Fund
                  
 
*
LOANS TO PLAN PARTICIPANTS
4.24% - 10.50%
      
**
    
233,312
  
                       
   
TOTAL
              
5,941,473
  
                       
 
*
Party-in-interest
                  
  ** 
Participant-directed investment, cost not required
                
 
25
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 22, 2017
26
EXHIBIT INDEX

Exhibit identified below, Exhibit 23 is filed herein as an exhibit hereto.

Exhibit
Number 

23
Consent of Independent Registered Public Accounting Firm
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
27