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: 2018 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 15, 2019) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Operating Revenues | |||
| Operating Revenues | $ 130,863 | 126,034 | 125,980 |
| Operating Expenses | |||
| Selling, general and administrative expense (including net gain on sale of divested businesses of $0, $1,774 and $1,007, respectively) | 31,083 | 28,592 | 28,102 |
| Depreciation and amortization expense | 17,403 | 16,954 | 15,928 |
| Oath goodwill impairment | 4,591 | 0 | 0 |
| Total Operating Expenses | 108,585 | 98,609 | 96,731 |
| Operating Income | 22,278 | 27,425 | 29,249 |
| Equity in losses of unconsolidated businesses | (186) | (77) | (98) |
| Other income (expense), net | 2,364 | (2,021) | (3,789) |
| Interest expense | (4,833) | (4,733) | (4,376) |
| Income Before (Provision) Benefit For Income Taxes | 19,623 | 20,594 | 20,986 |
| (Provision) benefit for income taxes | (3,584) | 9,956 | (7,378) |
| Net Income | 16,039 | 30,550 | 13,608 |
| Net income attributable to noncontrolling interests | 511 | 449 | 481 |
| Net income attributable to Verizon | 15,528 | 30,101 | 13,127 |
| Net Income | 16,039 | 30,550 | 13,608 |
| Basic Earnings Per Common Share | |||
| Basic Earnings Per Share Attributable to Verizon (in USD per share) | 3.76 | 7.37 | 3.22 |
| Basic, Weighted-average shares outstanding (in shares) | 4,128 | 4,084 | 4,080 |
| Diluted Earnings Per Common Share | |||
| Diluted, Net income attributable to Verizon (in USD per share) | 3.76 | 7.36 | 3.21 |
| Diluted, Weighted-average shares outstanding (in shares) | 4,132 | 4,089 | 4,086 |
| Product and Service | |||
| Service and other | |||
| Operating Revenues | 108,605 | 107,145 | 108,468 |
| Service | |||
| Cost of services and equipment | 32,185 | 30,916 | 30,463 |
| Equipment | |||
| Operating Revenues | 22,258 | 18,889 | 17,512 |
| Cost of services and equipment | 23,323 | 22,147 | 22,238 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2018 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 15, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net Income | $ 16,039 | 30,550 | 13,608 |
| Other Comprehensive Income (Loss), Net of Tax (Expense) Benefit | |||
| Foreign currency translation adjustments | (117) | 245 | (159) |
| Unrealized gain (loss) on cash flow hedges, net of tax of $(19), $20 and $(168) | 55 | (31) | 198 |
| Unrealized gain (loss) on marketable securities, net of tax of $0, $10 and $26 | 1 | (14) | (55) |
| Defined benefit pension and postretirement plans, net of tax of $284, $144 and $(1,339) | (858) | (214) | 2,139 |
| Other comprehensive income (loss) attributable to Verizon | (919) | (14) | 2,123 |
| Total Comprehensive Income | 15,120 | 30,536 | 15,731 |
| Comprehensive income attributable to noncontrolling interests | 511 | 449 | 481 |
| Comprehensive income attributable to Verizon | 14,609 | 30,087 | 15,250 |
| Total comprehensive income | 15,120 | 30,536 | 15,731 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 15, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 16,039 | 30,550 | 13,608 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 17,403 | 16,954 | 15,928 |
| Employee retirement benefits | (2,657) | 440 | 2,705 |
| Deferred income taxes | 389 | (14,463) | (1,063) |
| Provision for uncollectible accounts | 980 | 1,167 | 1,420 |
| Equity in losses of unconsolidated businesses, net of dividends received | 231 | 117 | 138 |
| Net gain on sale of divested businesses | 0 | (1,774) | (1,007) |
| Oath goodwill impairment | 4,591 | 0 | 0 |
| Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses: | |||
| Accounts receivable | (2,667) | (5,674) | (5,067) |
| Inventories | (324) | 168 | 61 |
| Prepaid expenses and other | 37 | 27 | (660) |
| Accounts payable and accrued liabilities and Other current liabilities | 1,777 | (459) | (1,089) |
| Discretionary employee benefits contributions | (1,679) | (3,411) | (186) |
| Other, net | 219 | 676 | (3,099) |
| Net cash provided by operating activities | 34,339 | 24,318 | 21,689 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (including capitalized software) | (16,658) | (17,247) | (17,059) |
| Acquisitions of businesses, net of cash acquired | (230) | (5,880) | (3,765) |
| Acquisitions of wireless licenses | (1,429) | (583) | (534) |
| Proceeds from dispositions of businesses | 0 | 3,614 | 9,882 |
| Other, net | 383 | 1,640 | 1,602 |
| Net cash used in investing activities | (17,934) | (18,456) | (9,874) |
| Cash Flows from Financing Activities | |||
| Proceeds from long-term borrowings | 5,967 | 27,707 | 12,964 |
| Proceeds from asset-backed long-term borrowings | 4,810 | 4,290 | 4,986 |
| Repayments of long-term borrowings and capital lease obligations | (10,923) | (23,837) | (19,159) |
| Repayments of asset-backed long-term borrowings | (3,635) | (400) | 0 |
| Dividends paid | (9,772) | (9,472) | (9,262) |
| Other, net | (1,824) | (4,439) | (2,905) |
| Net cash used in financing activities | (15,377) | (6,151) | (13,376) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 1,028 | (289) | (1,561) |
| Cash, cash equivalents and restricted cash, beginning of period | 2,888 | 3,177 | |
| Cash, cash equivalents and restricted cash, end of period (Note 1) | 3,916 | 2,888 | 3,177 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
VERIZON COMMUNICATIONS INC | ||
Ticker: VZ Fiscal Year: 2018 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 15, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 2,745 | 2,079 |
| Accounts receivable, net of allowances of $765 and $939 | 25,102 | 23,493 |
| Inventories | 1,336 | 1,034 |
| Prepaid expenses and other | 5,453 | 3,307 |
| Total current assets | 34,636 | 29,913 |
| Property, plant and equipment | 252,835 | 246,498 |
| Less accumulated depreciation | 163,549 | 157,930 |
| Property, plant and equipment, net | 89,286 | 88,568 |
| Investments in unconsolidated businesses | 671 | 1,039 |
| Wireless licenses | 94,130 | 88,417 |
| Goodwill | 24,614 | 29,172 |
| Other intangible assets, net | 9,775 | 10,247 |
| Other assets | 11,717 | 9,787 |
| Total assets | 264,829 | 257,143 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Debt maturing within one year | 7,190 | 3,453 |
| Accounts payable and accrued liabilities | 22,501 | 21,232 |
| Other current liabilities | 8,239 | 8,352 |
| Total current liabilities | 37,930 | 33,037 |
| Long-term debt | 105,873 | 113,642 |
| Employee benefit obligations | 18,599 | 22,112 |
| Deferred income taxes | 33,795 | 31,232 |
| Other liabilities | 13,922 | 12,433 |
| Total long-term liabilities | 172,189 | 179,419 |
| Commitments and Contingencies (Note 16) | ||
| Equity | ||
| Series preferred stock ($0.10 par value; 250,000,000 shares authorized; none issued) | 0 | 0 |
| Common stock ($0.10 par value; 6,250,000,000 shares authorized in each period; 4,291,433,646 and 4,242,374,240 shares issued) | 429 | 424 |
| Additional paid in capital | 13,437 | 11,101 |
| Retained earnings | 43,542 | 35,635 |
| Accumulated other comprehensive income | 2,370 | 2,659 |
| Common stock in treasury, at cost (159,400,267 and 162,897,868 shares outstanding) | (6,986) | (7,139) |
| Deferred compensation employee stock ownership plans and other | 353 | 416 |
| Noncontrolling interests | 1,565 | 1,591 |
| Total equity | 54,710 | 44,687 |
| Total liabilities and equity | 264,829 | 257,143 |
| External Links | |
| VERIZON COMMUNICATIONS INC (VZ) Fiscal Year 2018 | |
| 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 |