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: 2019 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Operating Revenues | |||
| Operating Revenues | $ 131,868 | 130,863 | 126,034 |
| Operating Expenses | |||
| Selling, general and administrative expense (including net gain/(loss) on sale of divested businesses of $(94), $0 and $1,774, respectively) | 29,896 | 31,083 | 28,592 |
| Depreciation and amortization expense | 16,682 | 17,403 | 16,954 |
| Media goodwill impairment | 186 | 4,591 | 0 |
| Total Operating Expenses | 101,490 | 108,585 | 98,609 |
| Operating Income | 30,378 | 22,278 | 27,425 |
| Equity in losses of unconsolidated businesses | (15) | (186) | (77) |
| Other income (expense), net | (2,900) | 2,364 | (2,021) |
| Interest expense | (4,730) | (4,833) | (4,733) |
| Income Before (Provision) Benefit For Income Taxes | 22,733 | 19,623 | 20,594 |
| (Provision) benefit for income taxes | (2,945) | (3,584) | 9,956 |
| Net Income | 19,788 | 16,039 | 30,550 |
| Net income attributable to noncontrolling interests | 523 | 511 | 449 |
| Net income attributable to Verizon | 19,265 | 15,528 | 30,101 |
| Net Income | 19,788 | 16,039 | 30,550 |
| Basic Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 4.66 | 3.76 | 7.37 |
| Weighted-average shares outstanding (in shares) | 4,138 | 4,128 | 4,084 |
| Diluted Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 4.65 | 3.76 | 7.36 |
| Weighted-average shares outstanding (in shares) | 4,140 | 4,132 | 4,089 |
| Product and Service | |||
| Service and other | |||
| Operating Revenues | 110,305 | 108,605 | 107,145 |
| Service | |||
| Cost of services and equipment | 31,772 | 32,185 | 30,916 |
| Wireless equipment | |||
| Operating Revenues | 21,563 | 22,258 | 18,889 |
| Cost of services and equipment | 22,954 | 23,323 | 22,147 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net Income | $ 19,788 | 16,039 | 30,550 |
| Other Comprehensive Loss, Net of Tax (Expense) Benefit | |||
| Foreign currency translation adjustments, net of tax of $(21), $(11) and $30 | 16 | (117) | 245 |
| Unrealized gain (loss) on cash flow hedges, net of tax of $265, $(19) and $20 | (736) | 55 | (31) |
| Unrealized gain (loss) on marketable securities, net of tax of $(2), $0 and $10 | 7 | 1 | (14) |
| Defined benefit pension and postretirement plans, net of tax of $219, $284 and $144 | (659) | (858) | (214) |
| Other comprehensive loss attributable to Verizon | (1,372) | (919) | (14) |
| Total Comprehensive Income | 18,416 | 15,120 | 30,536 |
| Comprehensive income attributable to noncontrolling interests | 523 | 511 | 449 |
| Comprehensive income attributable to Verizon | 17,893 | 14,609 | 30,087 |
| Total comprehensive income | 18,416 | 15,120 | 30,536 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 19,788 | 16,039 | 30,550 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 16,682 | 17,403 | 16,954 |
| Employee retirement benefits | (284) | (2,657) | 440 |
| Deferred income taxes | 1,232 | 389 | (14,463) |
| Provision for uncollectible accounts | 1,588 | 980 | 1,167 |
| Equity in losses of unconsolidated businesses, net of dividends received | 74 | 231 | 117 |
| Net loss (gain) on sale of divested businesses | 94 | 0 | (1,774) |
| Media goodwill impairment | 186 | 4,591 | 0 |
| Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses: | |||
| Accounts receivable | (1,471) | (2,667) | (5,674) |
| Inventories | (76) | (324) | 168 |
| Prepaid expenses and other | (2,807) | 37 | 27 |
| Accounts payable and accrued liabilities and Other current liabilities | (2,359) | 1,777 | (459) |
| Discretionary employee benefits contributions | (300) | (1,679) | (3,411) |
| Other, net | 3,399 | 219 | 676 |
| Net cash provided by operating activities | 35,746 | 34,339 | 24,318 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (including capitalized software) | (17,939) | (16,658) | (17,247) |
| Acquisitions of businesses, net of cash acquired | (29) | (230) | (5,880) |
| Acquisitions of wireless licenses | (898) | (1,429) | (583) |
| Proceeds from dispositions of businesses | 28 | 0 | 3,614 |
| Other, net | 1,257 | 383 | 1,640 |
| Net cash used in investing activities | (17,581) | (17,934) | (18,456) |
| Cash Flows from Financing Activities | |||
| Proceeds from long-term borrowings | 10,079 | 5,967 | 27,707 |
| Proceeds from asset-backed long-term borrowings | 8,576 | 4,810 | 4,290 |
| Repayments of long-term borrowings and finance lease obligations | (17,584) | (10,923) | (23,837) |
| Repayments of asset-backed long-term borrowings | (6,302) | (3,635) | (400) |
| Dividends paid | (10,016) | (9,772) | (9,472) |
| Other, net | (2,917) | (1,824) | (4,439) |
| Net cash used in financing activities | (18,164) | (15,377) | (6,151) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 1 | 1,028 | (289) |
| Cash, cash equivalents and restricted cash, beginning of period | 3,916 | 2,888 | |
| Cash, cash equivalents and restricted cash, end of period | 3,917 | 3,916 | 2,888 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
VERIZON COMMUNICATIONS INC | ||
Ticker: VZ Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 2,594 | 2,745 |
| Accounts receivable, net of allowances of $733 and $765 | 25,429 | 25,102 |
| Inventories | 1,422 | 1,336 |
| Prepaid expenses and other | 8,028 | 5,453 |
| Total current assets | 37,473 | 34,636 |
| Property, plant and equipment | 265,734 | 252,835 |
| Less accumulated depreciation | 173,819 | 163,549 |
| Property, plant and equipment, net | 91,915 | 89,286 |
| Investments in unconsolidated businesses | 558 | 671 |
| Wireless licenses | 95,059 | 94,130 |
| Goodwill | 24,389 | 24,614 |
| Other intangible assets, net | 9,498 | 9,775 |
| Operating lease right-of-use assets | 22,694 | 23,241 |
| Other assets | 10,141 | 11,717 |
| Total assets | 291,727 | 264,829 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Debt maturing within one year | 10,777 | 7,190 |
| Accounts payable and accrued liabilities | 21,806 | 22,501 |
| Current operating lease liabilities | 3,261 | 2,931 |
| Other current liabilities | 9,024 | 8,239 |
| Total current liabilities | 44,868 | 37,930 |
| Long-term debt | 100,712 | 105,873 |
| Employee benefit obligations | 17,952 | 18,599 |
| Deferred income taxes | 34,703 | 33,795 |
| Non-current operating lease liabilities | 18,393 | 19,203 |
| Other liabilities | 12,264 | 13,922 |
| Total long-term liabilities | 184,024 | 172,189 |
| 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 issued in each period) | 429 | 429 |
| Additional paid in capital | 13,419 | 13,437 |
| Retained earnings | 53,147 | 43,542 |
| Accumulated other comprehensive income | 998 | 2,370 |
| Common stock in treasury, at cost (155,605,527 and 159,400,267 shares outstanding) | (6,820) | (6,986) |
| Deferred compensation employee stock ownership plans and other | 222 | 353 |
| Noncontrolling interests | 1,440 | 1,565 |
| Total equity | 62,835 | 54,710 |
| Total liabilities and equity | 291,727 | 264,829 |
| External Links | |
| VERIZON COMMUNICATIONS INC (VZ) Fiscal Year 2019 | |
| 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 |