10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2010 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Operating Revenues | $ 106,565 | 107,808 | 97,354 |
| Operating Expenses | |||
| Cost of services and sales (exclusive of items shown below) | 44,149 | 44,579 | 38,615 |
| Selling, general and administrative expense | 31,366 | 30,717 | 41,517 |
| Depreciation and amortization expense | 16,405 | 16,534 | 14,610 |
| Total Operating Expenses | 91,920 | 91,830 | 94,742 |
| Operating Income | 14,645 | 15,978 | 2,612 |
| Equity in earnings of unconsolidated businesses | 508 | 553 | 567 |
| Other income and (expense), net | 54 | 91 | 283 |
| Interest expense | (2,523) | (3,102) | (1,819) |
| Income Before (Provision) Benefit for Income Taxes | 12,684 | 13,520 | 1,643 |
| (Provision) benefit for income taxes | (2,467) | (1,919) | 2,319 |
| Net Income | 10,217 | 11,601 | 3,962 |
| Net income attributable to noncontrolling interest | 7,668 | 6,707 | 6,155 |
| Net income (loss) attributable to Verizon | 2,549 | 4,894 | (2,193) |
| Net Income | 10,217 | 11,601 | 3,962 |
| Basic Earnings (Loss) Per Common Share | |||
| Net income (loss) attributable to Verizon | 0.90 | 1.72 | (0.77) |
| Weighted-average shares outstanding (in millions) | 2,830 | 2,841 | 2,849 |
| Diluted Earnings (Loss) Per Common Share | |||
| Net income (loss) attributable to Verizon | 0.90 | 1.72 | (0.77) |
| Weighted-average shares outstanding (in millions) | 2,833 | 2,841 | 2,849 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2010 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Comprehensive Income | |||
| Net income | $ 10,217 | 11,601 | 3,962 |
| Other comprehensive income (loss) | 2,363 | 643 | (415) |
| Total Comprehensive Income | 12,580 | 12,244 | 3,547 |
| Comprehensive income attributable to noncontrolling interest | 7,633 | 6,810 | 6,125 |
| Comprehensive income (loss) attributable to Verizon | 4,947 | 5,434 | (2,578) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 10,217 | 11,601 | 3,962 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 16,405 | 16,534 | 14,610 |
| Employee retirement benefits | 3,988 | 2,964 | 16,077 |
| Deferred income taxes | 3,233 | 2,093 | (3,468) |
| Provision for uncollectible accounts | 1,246 | 1,306 | 1,085 |
| Equity in earnings of unconsolidated businesses, net of dividends received | 2 | 389 | 212 |
| Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses: | |||
| Accounts receivable | (859) | (1,393) | (1,085) |
| Inventories | 299 | 235 | (188) |
| Other assets | (313) | (102) | (59) |
| Accounts payable and accrued liabilities | 1,075 | (1,251) | (1,701) |
| Other, net | (1,930) | (986) | (1,993) |
| Net cash provided by operating activities | 33,363 | 31,390 | 27,452 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (including capitalized software) | (16,458) | (16,872) | (17,133) |
| Acquisitions of licenses, investments and businesses, net of cash acquired | (1,438) | (5,958) | (15,904) |
| Proceeds from dispositions | 2,594 | ||
| Net change in short-term investments | (3) | 84 | 1,677 |
| Other, net | 251 | (410) | (114) |
| Net cash used in investing activities | (15,054) | (23,156) | (31,474) |
| Cash Flows from Financing Activities | |||
| Proceeds from long-term borrowings | 12,040 | 21,598 | |
| Repayments of long-term borrowings and capital lease obligations | (8,136) | (19,260) | (4,146) |
| Increase (decrease) in short-term obligations, excluding current maturities | (1,097) | (1,652) | 2,389 |
| Dividends paid | (5,412) | (5,271) | (4,994) |
| Proceeds from access line spin-off | 3,083 | ||
| Proceeds from sale of common stock | 16 | ||
| Purchase of common stock for treasury | (1,368) | ||
| Other, net | (2,088) | (1,864) | (844) |
| Net cash provided by (used in) financing activities | (13,650) | (16,007) | 12,651 |
| Increase (decrease) in cash and cash equivalents | 4,659 | (7,773) | 8,629 |
| Cash and cash equivalents, beginning of year | 2,009 | 9,782 | |
| Cash and cash equivalents, end of year | 6,668 | 2,009 | 9,782 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
VERIZON COMMUNICATIONS INC | ||
Ticker: VZ Fiscal Year: 2010 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2010 | Dec 31, 2009 | |
| Assets | ||
| Cash and cash equivalents | $ 6,668 | 2,009 |
| Short-term investments | 545 | 490 |
| Accounts receivable, net of allowances | 11,781 | 12,573 |
| Inventories | 1,131 | 1,426 |
| Prepaid expenses and other | 2,223 | 5,247 |
| Total current assets | 22,348 | 21,745 |
| Plant, property and equipment | 211,655 | 229,743 |
| Less accumulated depreciation | 123,944 | 137,758 |
| Plant, property and equipment, net | 87,711 | 91,985 |
| Investments in unconsolidated businesses | 3,497 | 3,118 |
| Wireless licenses | 72,996 | 72,067 |
| Goodwill | 21,988 | 22,472 |
| Other intangible assets, net | 5,830 | 6,764 |
| Other assets | 5,635 | 8,756 |
| Total assets | 220,005 | 226,907 |
| Liabilities and Equity | ||
| Debt maturing within one year | 7,542 | 7,205 |
| Accounts payable and accrued liabilities | 15,702 | 15,223 |
| Other | 7,353 | 6,708 |
| Total current liabilities | 30,597 | 29,136 |
| Long-term debt | 45,252 | 55,051 |
| Employee benefit obligations | 28,164 | 32,622 |
| Deferred income taxes | 22,818 | 19,190 |
| Other liabilities | 6,262 | 6,765 |
| Equity | ||
| Series preferred stock ($.10 par value; none issued) | ||
| Common stock ($.10 par value; 2,967,610,119 shares issued in both periods) | 297 | 297 |
| Contributed capital | 37,922 | 40,108 |
| Reinvested earnings | 4,368 | 7,260 |
| Accumulated other comprehensive income (loss) | 1,049 | (1,372) |
| Common stock in treasury, at cost | (5,267) | (5,000) |
| Deferred compensation - employee stock ownership plans and other | 200 | 89 |
| Noncontrolling interest | 48,343 | 42,761 |
| Total equity | 86,912 | 84,143 |
| Total liabilities and equity | 220,005 | 226,907 |
| External Links | |
| VERIZON COMMUNICATIONS INC (VZ) Fiscal Year 2010 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |