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: 2017 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Operating Revenues | |||
| Service revenues and other | $ 107,145 | 108,468 | 114,696 |
| Wireless equipment revenues | 18,889 | 17,512 | 16,924 |
| Total Operating Revenues | 126,034 | 125,980 | 131,620 |
| Operating Expenses | |||
| Cost of services (exclusive of items shown below) | 29,409 | 29,186 | 29,438 |
| Wireless cost of equipment | 22,147 | 22,238 | 23,119 |
| Selling, general and administrative expense (including net gain on sale of divested businesses of $1,774, $1,007 and $0, respectively) | 30,110 | 31,569 | 29,986 |
| Depreciation and amortization expense | 16,954 | 15,928 | 16,017 |
| Total Operating Expenses | 98,620 | 98,921 | 98,560 |
| Operating Income | 27,414 | 27,059 | 33,060 |
| Equity in losses of unconsolidated businesses | (77) | (98) | (86) |
| Other income (expense), net | (2,010) | (1,599) | 186 |
| Interest expense | (4,733) | (4,376) | (4,920) |
| Income Before Benefit (Provision) For Income Taxes | 20,594 | 20,986 | 28,240 |
| Benefit (provision) for income taxes | 9,956 | (7,378) | (9,865) |
| Net Income | 30,550 | 13,608 | 18,375 |
| Net income attributable to noncontrolling interests | 449 | 481 | 496 |
| Net income attributable to Verizon | 30,101 | 13,127 | 17,879 |
| Net Income | 30,550 | 13,608 | 18,375 |
| Basic Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 7.37 | 3.22 | 4.38 |
| Weighted-average shares outstanding (in shares) | 4,084 | 4,080 | 4,085 |
| Diluted Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 7.36 | 3.21 | 4.37 |
| Weighted-average shares outstanding (in shares) | 4,089 | 4,086 | 4,093 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net Income | $ 30,550 | 13,608 | 18,375 |
| Other Comprehensive Income, net of tax expense (benefit) | |||
| Foreign currency translation adjustments | 245 | (159) | (208) |
| Unrealized gains (losses) on cash flow hedges, net of tax of $(20), $168 and $(160) | (31) | 198 | (194) |
| Unrealized losses on marketable securities, net of tax of $(10), $(26) and $(4) | (14) | (55) | (11) |
| Defined benefit pension and postretirement plans, net of tax of $(144), $1,339 and $(91) | (214) | 2,139 | (148) |
| Other comprehensive income (loss) attributable to Verizon | (14) | 2,123 | (561) |
| Total Comprehensive Income | 30,536 | 15,731 | 17,814 |
| Comprehensive income attributable to noncontrolling interests | 449 | 481 | 496 |
| Comprehensive income attributable to Verizon | 30,087 | 15,250 | 17,318 |
| Total comprehensive income | 30,536 | 15,731 | 17,814 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 30,550 | 13,608 | 18,375 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 16,954 | 15,928 | 16,017 |
| Employee retirement benefits | 440 | 2,705 | (1,747) |
| Deferred income taxes | (14,463) | (1,063) | 3,516 |
| Provision for uncollectible accounts | 1,167 | 1,420 | 1,610 |
| Equity in losses of unconsolidated businesses, net of dividends received | 117 | 138 | 127 |
| Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses | |||
| Accounts receivable | (5,436) | (5,067) | (945) |
| Inventories | 168 | 61 | (99) |
| Other assets | 656 | 449 | 942 |
| Accounts payable and accrued liabilities | (335) | (1,079) | 2,545 |
| Discretionary contribution to qualified pension plans | (3,411) | (186) | 0 |
| Net gain on sale of divested businesses | (1,774) | (1,007) | 0 |
| Other, net | 672 | (3,097) | (1,314) |
| Net cash provided by operating activities | 25,305 | 22,810 | 39,027 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (including capitalized software) | (17,247) | (17,059) | (17,775) |
| Acquisitions of businesses, net of cash acquired | (5,928) | (3,765) | (3,545) |
| Acquisitions of wireless licenses | (583) | (534) | (9,942) |
| Proceeds from dispositions of businesses | 3,614 | 9,882 | 48 |
| Other, net | 772 | 493 | 1,171 |
| Net cash used in investing activities | (19,372) | (10,983) | (30,043) |
| Cash Flows from Financing Activities | |||
| Proceeds from long-term borrowings | 27,707 | 12,964 | 6,667 |
| Proceeds from asset-backed long-term borrowings | 4,290 | 4,986 | 0 |
| Repayments of long-term borrowings and capital lease obligations | (23,837) | (19,159) | (9,340) |
| Repayments of asset-backed long-term borrowings | (400) | 0 | 0 |
| Decrease in short-term obligations, excluding current maturities | (170) | (149) | (344) |
| Dividends paid | (9,472) | (9,262) | (8,538) |
| Purchase of common stock for treasury | 0 | 0 | (5,134) |
| Other, net | (4,852) | (2,797) | 1,577 |
| Net cash used in financing activities | (6,734) | (13,417) | (15,112) |
| Decrease in cash and cash equivalents | (801) | (1,590) | (6,128) |
| Cash and cash equivalents, beginning of period | 2,880 | 4,470 | |
| Cash and cash equivalents, end of period | 2,079 | 2,880 | 4,470 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
VERIZON COMMUNICATIONS INC | ||
Ticker: VZ Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 2,079 | 2,880 |
| Accounts receivable, net of allowances of $939 and $845 | 23,493 | 17,513 |
| Inventories | 1,034 | 1,202 |
| Assets held for sale | 0 | 882 |
| Prepaid expenses and other | 3,307 | 3,918 |
| Total current assets | 29,913 | 26,395 |
| Property, plant and equipment | 246,498 | 232,215 |
| Less accumulated depreciation | 157,930 | 147,464 |
| Property, plant and equipment, net | 88,568 | 84,751 |
| Investments in unconsolidated businesses | 1,039 | 1,110 |
| Wireless licenses | 88,417 | 86,673 |
| Goodwill | 29,172 | 27,205 |
| Other intangible assets, net | 10,247 | 8,897 |
| Non-current assets held for sale | 0 | 613 |
| Other assets | 9,787 | 8,536 |
| Total assets | 257,143 | 244,180 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Debt maturing within one year | 3,453 | 2,645 |
| Accounts payable and accrued liabilities | 21,232 | 19,593 |
| Other | 8,352 | 8,102 |
| Total current liabilities | 33,037 | 30,340 |
| Long-term debt | 113,642 | 105,433 |
| Employee benefit obligations | 22,112 | 26,166 |
| Deferred income taxes | 31,232 | 45,964 |
| Other liabilities | 12,433 | 12,245 |
| Total long-term liabilities | 179,419 | 189,808 |
| Commitments and Contingencies (Note 15) | ||
| Equity | ||
| Series preferred stock ($.10 par value; 250,000,000 shares authorized; none issued) | 0 | 0 |
| Common stock ($.10 par value; 6,250,000,000 shares authorized in each period; 4,242,374,240 shares issued in each period) | 424 | 424 |
| Additional paid in capital | 11,101 | 11,182 |
| Retained earnings | 35,635 | 15,059 |
| Accumulated other comprehensive income | 2,659 | 2,673 |
| Common stock in treasury, at cost (162,897,868 and 165,689,589 shares outstanding) | (7,139) | (7,263) |
| Deferred compensation employee stock ownership plans and other | 416 | 449 |
| Noncontrolling interests | 1,591 | 1,508 |
| Total equity | 44,687 | 24,032 |
| Total liabilities and equity | 257,143 | 244,180 |
| External Links | |
| VERIZON COMMUNICATIONS INC (VZ) Fiscal Year 2017 | |
| 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 |