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: 2022 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating Revenues | |||
| Operating Revenues | $ 136,835 | 133,613 | 128,292 |
| Operating Expenses | |||
| Selling, general and administrative expense | 30,136 | 28,658 | 31,573 |
| Depreciation and amortization expense | 17,099 | 16,206 | 16,720 |
| Total Operating Expenses | 106,368 | 101,165 | 99,494 |
| Operating Income | 30,467 | 32,448 | 28,798 |
| Equity in earnings (losses) of unconsolidated businesses | 44 | 145 | (45) |
| Other income (expense), net | 1,373 | 312 | (539) |
| Interest expense | (3,613) | (3,485) | (4,247) |
| Income Before Provision For Income Taxes | 28,271 | 29,420 | 23,967 |
| Provision for income taxes | (6,523) | (6,802) | (5,619) |
| Net Income | 21,748 | 22,618 | 18,348 |
| Net income attributable to noncontrolling interests | 492 | 553 | 547 |
| Net income attributable to Verizon | 21,256 | 22,065 | 17,801 |
| Net Income | 21,748 | 22,618 | 18,348 |
| Basic Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 5.06 | 5.32 | 4.30 |
| Weighted-average shares outstanding (in shares) | 4,202 | 4,148 | 4,140 |
| Diluted Earnings Per Common Share | |||
| Net income attributable to Verizon (in USD per share) | 5.06 | 5.32 | 4.30 |
| Weighted-average shares outstanding (in shares) | 4,204 | 4,150 | 4,142 |
| Product and Service | |||
| Service revenues and other | |||
| Operating Revenues | 109,625 | 110,449 | 109,872 |
| Wireless equipment | |||
| Operating Revenues | 27,210 | 23,164 | 18,420 |
| Cost of services and equipment | 30,496 | 25,067 | 19,800 |
| Service | |||
| Cost of services and equipment | 28,637 | 31,234 | 31,401 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net Income | $ 21,748 | 22,618 | 18,348 |
| Other Comprehensive Loss, Net of Tax (Expense) Benefit | |||
| Foreign currency translation adjustments, net of tax of $(13), $(17) and $19 | (153) | (141) | 180 |
| Unrealized gain (loss) on cash flow hedges, net of tax of $(111), $30 and $197 | 322 | (85) | (571) |
| Unrealized loss on fair value hedges, net of tax of $148, $0 and $0 | (431) | 0 | 0 |
| Unrealized loss on marketable securities, net of tax of $8, $3 and $(2) | (25) | (9) | (2) |
| Defined benefit pension and postretirement plans, net of tax of $221, $205 and $221 | (651) | (621) | (676) |
| Other comprehensive loss attributable to Verizon | (938) | (856) | (1,069) |
| Total Comprehensive Income | 20,810 | 21,762 | 17,279 |
| Comprehensive income attributable to noncontrolling interests | 492 | 553 | 547 |
| Comprehensive income attributable to Verizon | 20,318 | 21,209 | 16,732 |
| Total Comprehensive Income | 20,810 | 21,762 | 17,279 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
VERIZON COMMUNICATIONS INC | |||
Ticker: VZ Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 21,748 | 22,618 | 18,348 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 17,099 | 16,206 | 16,720 |
| Employee retirement benefits | (2,046) | (3,391) | 840 |
| Deferred income taxes | 2,973 | 4,264 | 1,553 |
| Provision for expected credit losses | 1,611 | 789 | 1,380 |
| Equity in losses (earnings) of unconsolidated businesses, net of dividends received | (10) | 36 | 91 |
| Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses: | |||
| Accounts receivable | (1,978) | (1,592) | 189 |
| Inventories | 627 | (905) | (369) |
| Prepaid expenses and other | 928 | 150 | 1,202 |
| Accounts payable and accrued liabilities and Other current liabilities | (33) | 1,457 | (966) |
| Other, net | (3,778) | (93) | 2,780 |
| Net cash provided by operating activities | 37,141 | 39,539 | 41,768 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (including capitalized software) | (23,087) | (20,286) | (18,192) |
| Cash received (paid) related to acquisitions of businesses, net of cash acquired | 248 | (4,065) | (520) |
| Acquisitions of wireless licenses | (3,653) | (47,596) | (3,896) |
| Collateral payments related to derivative contracts, net of repayments | (2,265) | (21) | 0 |
| Proceeds from disposition of business | 33 | 4,122 | 0 |
| Other, net | 62 | 693 | (904) |
| Net cash used in investing activities | (28,662) | (67,153) | (23,512) |
| Cash Flows from Financing Activities | |||
| Proceeds from long-term borrowings | 7,074 | 33,034 | 25,822 |
| Proceeds from asset-backed long-term borrowings | 10,732 | 8,383 | 5,635 |
| Net proceeds from (repayments of) short-term commercial paper | 106 | 0 | (9) |
| Repayments of long-term borrowings and finance lease obligations | (8,616) | (14,063) | (9,775) |
| Repayments of asset-backed long-term borrowings | (4,948) | (4,800) | (7,413) |
| Dividends paid | (10,805) | (10,445) | (10,232) |
| Other, net | (2,072) | (3,832) | (2,703) |
| Net cash provided by (used in) financing activities | (8,529) | 8,277 | 1,325 |
| Increase (decrease) in cash, cash equivalents and restricted cash | (50) | (19,337) | 19,581 |
| Cash, cash equivalents and restricted cash, beginning of period | 4,161 | 23,498 | |
| Cash, cash equivalents and restricted cash, end of period | 4,111 | 4,161 | 23,498 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
VERIZON COMMUNICATIONS INC | ||
Ticker: VZ Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 2,605 | 2,921 |
| Accounts receivable | 25,332 | 24,742 |
| Less Allowance for credit losses | 826 | 896 |
| Accounts receivable, net | 24,506 | 23,846 |
| Inventories | 2,388 | 3,055 |
| Prepaid expenses and other | 8,358 | 6,906 |
| Total current assets | 37,857 | 36,728 |
| Property, plant and equipment | 307,689 | 289,897 |
| Less Accumulated depreciation | 200,255 | 190,201 |
| Property, plant and equipment, net | 107,434 | 99,696 |
| Investments in unconsolidated businesses | 1,071 | 1,061 |
| Wireless licenses | 149,796 | 147,619 |
| Goodwill | 28,671 | 28,603 |
| Other intangible assets, net | 11,461 | 11,677 |
| Operating lease right-of-use assets | 26,130 | 27,883 |
| Other assets | 17,260 | 13,329 |
| Total assets | 379,680 | 366,596 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Debt maturing within one year | 9,963 | 7,443 |
| Accounts payable and accrued liabilities | 23,977 | 24,833 |
| Current operating lease liabilities | 4,134 | 3,859 |
| Other current liabilities | 12,097 | 11,025 |
| Total current liabilities | 50,171 | 47,160 |
| Long-term debt | 140,676 | 143,425 |
| Employee benefit obligations | 12,974 | 15,410 |
| Deferred income taxes | 43,441 | 40,685 |
| Non-current operating lease liabilities | 21,558 | 23,203 |
| Other liabilities | 18,397 | 13,513 |
| Total long-term liabilities | 237,046 | 236,236 |
| Commitments and Contingencies | ||
| 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 | 13,420 | 13,861 |
| Retained earnings | 82,380 | 71,993 |
| Accumulated other comprehensive loss | (1,865) | (927) |
| Common stock in treasury, at cost (91,572,258 and 93,634,725 shares outstanding) | (4,013) | (4,104) |
| Deferred compensation employee stock ownership plans (ESOPs) and other | 793 | 538 |
| Noncontrolling interests | 1,319 | 1,410 |
| Total equity | 92,463 | 83,200 |
| Total liabilities and equity | 379,680 | 366,596 |
| External Links | |
| VERIZON COMMUNICATIONS INC (VZ) Fiscal Year 2022 | |
| 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 |