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: 2021 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating Revenues | |||
| Operating Revenues | $ 133,613 | 128,292 | 131,868 |
| Operating Expenses | |||
| Selling, general and administrative expense | 28,658 | 31,573 | 29,896 |
| Depreciation and amortization expense | 16,206 | 16,720 | 16,682 |
| Media goodwill impairment | 0 | 0 | 186 |
| Total Operating Expenses | 101,165 | 99,494 | 101,490 |
| Operating Income | 32,448 | 28,798 | 30,378 |
| Equity in earnings (losses) of unconsolidated businesses | 145 | (45) | (15) |
| Other income (expense), net | 312 | (539) | (2,900) |
| Interest expense | (3,485) | (4,247) | (4,730) |
| Income Before Provision For Income Taxes | 29,420 | 23,967 | 22,733 |
| Provision for income taxes | (6,802) | (5,619) | (2,945) |
| Net Income | 22,618 | 18,348 | 19,788 |
| Net income attributable to noncontrolling interests | 553 | 547 | 523 |
| Net income attributable to Verizon | 22,065 | 17,801 | 19,265 |
| Net Income | 22,618 | 18,348 | 19,788 |
| Basic Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 5.32 | 4.30 | 4.66 |
| Weighted-average shares outstanding (in shares) | 4,148 | 4,140 | 4,138 |
| Diluted Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 5.32 | 4.30 | 4.65 |
| Weighted-average shares outstanding (in shares) | 4,150 | 4,142 | 4,140 |
| Product and Service | |||
| Service revenues and other | |||
| Operating Revenues | 110,449 | 109,872 | 110,305 |
| Service | |||
| Cost of services and equipment | 31,234 | 31,401 | 31,772 |
| Wireless equipment | |||
| Operating Revenues | 23,164 | 18,420 | 21,563 |
| Cost of services and equipment | 25,067 | 19,800 | 22,954 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net Income | $ 22,618 | 18,348 | 19,788 |
| Other Comprehensive Loss, Net of Tax (Expense) Benefit | |||
| Foreign currency translation adjustments, net of tax of $(17), $19 and $(21) | (141) | 180 | 16 |
| Unrealized loss on cash flow hedges, net of tax of $30, $197 and $265 | (85) | (571) | (736) |
| Unrealized gain (loss) on marketable securities, net of tax of $3, $(2) and $(2) | (9) | (2) | 7 |
| Defined benefit pension and postretirement plans, net of tax of $205, $221 and $219 | (621) | (676) | (659) |
| Other comprehensive loss attributable to Verizon | (856) | (1,069) | (1,372) |
| Total Comprehensive Income | 21,762 | 17,279 | 18,416 |
| Comprehensive income attributable to noncontrolling interests | 553 | 547 | 523 |
| Comprehensive income attributable to Verizon | 21,209 | 16,732 | 17,893 |
| Total comprehensive income | 21,762 | 17,279 | 18,416 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 22,618 | 18,348 | 19,788 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 16,206 | 16,720 | 16,682 |
| Employee retirement benefits | (3,391) | 840 | (284) |
| Deferred income taxes | 4,264 | 1,553 | 1,232 |
| Provision for expected credit losses | 789 | 1,380 | 1,588 |
| Equity in losses of unconsolidated businesses, net of dividends received | 36 | 91 | 74 |
| Media goodwill impairment | 0 | 0 | 186 |
| Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses: | |||
| Accounts receivable | (1,592) | 189 | (1,471) |
| Inventories | (905) | (369) | (76) |
| Prepaid expenses and other | 150 | 1,202 | (2,807) |
| Accounts payable and accrued liabilities and Other current liabilities | 1,457 | (966) | (2,359) |
| Discretionary employee benefits contributions | 0 | 0 | (300) |
| Other, net | (93) | 2,780 | 3,493 |
| Net cash provided by operating activities | 39,539 | 41,768 | 35,746 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (including capitalized software) | (20,286) | (18,192) | (17,939) |
| Acquisitions of businesses, net of cash acquired | (4,065) | (520) | (29) |
| Acquisitions of wireless licenses | (47,596) | (3,896) | (898) |
| Proceeds from dispositions of businesses | 4,122 | 0 | 28 |
| Other, net | 672 | (904) | 1,257 |
| Net cash used in investing activities | (67,153) | (23,512) | (17,581) |
| Cash Flows from Financing Activities | |||
| Proceeds from long-term borrowings | 33,034 | 25,822 | 10,079 |
| Proceeds from asset-backed long-term borrowings | 8,383 | 5,635 | 8,576 |
| Repayments of long-term borrowings and finance lease obligations | (14,063) | (9,775) | (17,584) |
| Repayments of asset-backed long-term borrowings | (4,800) | (7,413) | (6,302) |
| Dividends paid | (10,445) | (10,232) | (10,016) |
| Other, net | (3,832) | (2,712) | (2,917) |
| Net cash provided by (used in) financing activities | 8,277 | 1,325 | (18,164) |
| Increase (decrease) in cash, cash equivalents and restricted cash | (19,337) | 19,581 | 1 |
| Cash, cash equivalents and restricted cash, beginning of period | 23,498 | 3,917 | |
| Cash, cash equivalents and restricted cash, end of period | 4,161 | 23,498 | 3,917 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
VERIZON COMMUNICATIONS INC | ||
Ticker: VZ Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 2,921 | 22,171 |
| Accounts receivable | 24,742 | 25,169 |
| Less Allowance for credit losses | 896 | 1,252 |
| Accounts receivable, net | 23,846 | 23,917 |
| Inventories | 3,055 | 1,796 |
| Prepaid expenses and other | 6,906 | 6,710 |
| Total current assets | 36,728 | 54,594 |
| Property, plant and equipment | 289,897 | 279,737 |
| Less Accumulated depreciation | 190,201 | 184,904 |
| Property, plant and equipment, net | 99,696 | 94,833 |
| Investments in unconsolidated businesses | 1,061 | 589 |
| Wireless licenses | 147,619 | 96,097 |
| Deposits for wireless licenses | 0 | 2,772 |
| Goodwill | 28,603 | 24,773 |
| Other intangible assets, net | 11,677 | 9,413 |
| Operating lease right-of-use assets | 27,883 | 22,531 |
| Other assets | 13,329 | 10,879 |
| Total assets | 366,596 | 316,481 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Debt maturing within one year | 7,443 | 5,889 |
| Accounts payable and accrued liabilities | 24,833 | 20,658 |
| Current operating lease liabilities | 3,859 | 3,485 |
| Other current liabilities | 11,025 | 9,628 |
| Total current liabilities | 47,160 | 39,660 |
| Long-term debt | 143,425 | 123,173 |
| Employee benefit obligations | 15,410 | 18,657 |
| Deferred income taxes | 40,685 | 35,711 |
| Non-current operating lease liabilities | 23,203 | 18,000 |
| Other liabilities | 13,513 | 12,008 |
| Total long-term liabilities | 236,236 | 207,549 |
| 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 | 13,861 | 13,404 |
| Retained earnings | 71,993 | 60,464 |
| Accumulated other comprehensive loss | (927) | (71) |
| Common stock in treasury, at cost (93,634,725 and 153,304,088 shares outstanding) | (4,104) | (6,719) |
| Deferred compensation employee stock ownership plans (ESOPs) and other | 538 | 335 |
| Noncontrolling interests | 1,410 | 1,430 |
| Total equity | 83,200 | 69,272 |
| Total liabilities and equity | 366,596 | 316,481 |
| External Links | |
| VERIZON COMMUNICATIONS INC (VZ) Fiscal Year 2021 | |
| 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 |