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: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Operating Revenues | |||
| Operating Revenues | $ 128,292 | 131,868 | 130,863 |
| Operating Expenses | |||
| Selling, general and administrative expense | 31,573 | 29,896 | 31,083 |
| Depreciation and amortization expense | 16,720 | 16,682 | 17,403 |
| Media goodwill impairment | 0 | 186 | 4,591 |
| Total Operating Expenses | 99,494 | 101,490 | 108,585 |
| Operating Income | 28,798 | 30,378 | 22,278 |
| Equity in losses of unconsolidated businesses | (45) | (15) | (186) |
| Other income (expense), net | (539) | (2,900) | 2,364 |
| Interest expense | (4,247) | (4,730) | (4,833) |
| Income Before Provision For Income Taxes | 23,967 | 22,733 | 19,623 |
| Provision for income taxes | (5,619) | (2,945) | (3,584) |
| Net Income | 18,348 | 19,788 | 16,039 |
| Net income attributable to noncontrolling interests | 547 | 523 | 511 |
| Net income attributable to Verizon | 17,801 | 19,265 | 15,528 |
| Net Income | 18,348 | 19,788 | 16,039 |
| Basic Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 4.30 | 4.66 | 3.76 |
| Weighted-average shares outstanding (in shares) | 4,140 | 4,138 | 4,128 |
| Diluted Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 4.30 | 4.65 | 3.76 |
| Weighted-average shares outstanding (in shares) | 4,142 | 4,140 | 4,132 |
| Product and Service | |||
| Service and other | |||
| Operating Revenues | 109,872 | 110,305 | 108,605 |
| Service | |||
| Cost of services and equipment | 31,401 | 31,772 | 32,185 |
| Wireless equipment | |||
| Operating Revenues | 18,420 | 21,563 | 22,258 |
| Cost of services and equipment | 19,800 | 22,954 | 23,323 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net Income | $ 18,348 | 19,788 | 16,039 |
| Other Comprehensive Loss, Net of Tax (Expense) Benefit | |||
| Foreign currency translation adjustments, net of tax of | 180 | 16 | (117) |
| Unrealized gain (loss) on cash flow hedges, net of tax of | (571) | (736) | 55 |
| Unrealized gain (loss) on marketable securities, net of tax of | (2) | 7 | 1 |
| Defined benefit pension and postretirement plans, net of tax of | (676) | (659) | (858) |
| Other comprehensive loss attributable to Verizon | (1,069) | (1,372) | (919) |
| Total Comprehensive Income | 17,279 | 18,416 | 15,120 |
| Comprehensive income attributable to noncontrolling interests | 547 | 523 | 511 |
| Comprehensive income attributable to Verizon | 16,732 | 17,893 | 14,609 |
| Total comprehensive income | 17,279 | 18,416 | 15,120 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 18,348 | 19,788 | 16,039 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 16,720 | 16,682 | 17,403 |
| Employee retirement benefits | 840 | (284) | (2,657) |
| Deferred income taxes | 1,553 | 1,232 | 389 |
| Provision for expected credit losses | 1,380 | 1,588 | 980 |
| Equity in losses of unconsolidated businesses, net of dividends received | 91 | 74 | 231 |
| Media goodwill impairment | 0 | 186 | 4,591 |
| Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses: | |||
| Accounts receivable | 189 | (1,471) | (2,667) |
| Inventories | (369) | (76) | (324) |
| Prepaid expenses and other | 1,202 | (2,807) | 37 |
| Accounts payable and accrued liabilities and Other current liabilities | (966) | (2,359) | 1,777 |
| Discretionary employee benefits contributions | 0 | (300) | (1,679) |
| Other, net | 2,780 | 3,493 | 219 |
| Net cash provided by operating activities | 41,768 | 35,746 | 34,339 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (including capitalized software) | (18,192) | (17,939) | (16,658) |
| Acquisitions of businesses, net of cash acquired | (520) | (29) | (230) |
| Acquisitions of wireless licenses | (2,126) | (898) | (1,429) |
| Proceeds from dispositions of businesses | 0 | 28 | 0 |
| Other, net | (2,674) | 1,257 | 383 |
| Net cash used in investing activities | (23,512) | (17,581) | (17,934) |
| Cash Flows from Financing Activities | |||
| Proceeds from long-term borrowings | 25,822 | 10,079 | 5,967 |
| Proceeds from asset-backed long-term borrowings | 5,635 | 8,576 | 4,810 |
| Repayments Of Long Term Borrowings And Finance Lease Obligations | (9,775) | (17,584) | (10,923) |
| Repayments of asset-backed long-term borrowings | (7,413) | (6,302) | (3,635) |
| Dividends paid | (10,232) | (10,016) | (9,772) |
| Other, net | (2,712) | (2,917) | (1,824) |
| Net cash provided by (used in) financing activities | 1,325 | (18,164) | (15,377) |
| Increase in cash, cash equivalents and restricted cash | 19,581 | 1 | 1,028 |
| Cash, cash equivalents and restricted cash, beginning of period | 3,917 | 3,916 | |
| Cash, cash equivalents and restricted cash, end of period | 23,498 | 3,917 | 3,916 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
VERIZON COMMUNICATIONS INC | ||
Ticker: VZ Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 22,171 | 2,594 |
| Accounts receivable | 25,169 | 26,162 |
| Less Allowance for credit losses | 1,252 | 0 |
| Less Allowance for doubtful accounts | 0 | 733 |
| Accounts receivable, net (Note 1) | 23,917 | 25,429 |
| Inventories | 1,796 | 1,422 |
| Prepaid expenses and other | 6,710 | 8,028 |
| Total current assets | 54,594 | 37,473 |
| Property, plant and equipment | 279,737 | 265,734 |
| Less Accumulated depreciation | 184,904 | 173,819 |
| Property, plant and equipment, net | 94,833 | 91,915 |
| Investments in unconsolidated businesses | 589 | 558 |
| Wireless licenses | 96,097 | 95,059 |
| Goodwill | 24,773 | 24,389 |
| Other intangible assets, net | 9,413 | 9,498 |
| Operating lease right-of-use assets | 22,531 | 22,694 |
| Other assets | 13,651 | 10,141 |
| Total assets | 316,481 | 291,727 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Debt maturing within one year | 5,889 | 10,777 |
| Accounts payable and accrued liabilities | 20,658 | 21,806 |
| Current operating lease liabilities | 3,485 | 3,261 |
| Other current liabilities | 9,628 | 9,024 |
| Total current liabilities | 39,660 | 44,868 |
| Long-term debt | 123,173 | 100,712 |
| Employee benefit obligations | 18,657 | 17,952 |
| Deferred income taxes | 35,711 | 34,703 |
| Non-current operating lease liabilities | 18,000 | 18,393 |
| Other liabilities | 12,008 | 12,264 |
| Total long-term liabilities | 207,549 | 184,024 |
| 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 shares issued in each period) | 429 | 429 |
| Additional paid in capital | 13,404 | 13,419 |
| Retained earnings | 60,464 | 53,147 |
| Accumulated other comprehensive income (loss) | (71) | 998 |
| Common stock in treasury, at cost (153,304,088 and 155,605,527 shares outstanding) | (6,719) | (6,820) |
| Deferred compensation employee stock ownership plans and other | 335 | 222 |
| Noncontrolling interests | 1,430 | 1,440 |
| Total equity | 69,272 | 62,835 |
| Total liabilities and equity | 316,481 | 291,727 |
| External Links | |
| VERIZON COMMUNICATIONS INC (VZ) Fiscal Year 2020 | |
| 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 |