Verizon Communications Inc. (VZ) financial statements (2021 and earlier)

Company profile

Business Address 1095 AVENUE OF THE AMERICAS
NEW YORK, NY 10036
State of Incorp. DE
Fiscal Year End December 31
SIC 4813 - Telephone Communications, Except Radiotelephone (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)
Annual | Quarterly

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,5942,7452,0792,8804,82011,15354,129
Cash and cash equivalents2,5942,7452,0792,8804,47010,59853,528
Short-term investments    350555601
Restricted cash and investments1,221      
Receivables25,42925,10223,49317,51313,45713,99312,439
Inventory, net of allowances, customer advances and progress billings1,4221,3361,0341,2021,2521,1531,020
Inventory1,4221,3361,0341,2021,2521,1531,020
Prepaid expense2,438      
Capitalized contract cost2,578 ✕✕✕✕✕
Disposal group, including discontinued operation   882792300 
Capital leases, lessor balance sheet, net investment in direct financing and sales type leases✕   345
Other current assets      3,406
Other undisclosed current assets1,7915,4533,3073,9181,9563,020(5)
Total current assets:37,47334,63629,91326,39522,28029,62370,994
Noncurrent Assets
Operating lease, right-of-use asset22,694✕✕✕✕✕✕
Property, plant and equipment91,91589,28688,56884,75183,54189,94788,956
Long-term investments and receivables5586711,0391,1107963,0484,614
Long-term investments5586711,0391,1107961,9623,432
Capital leases, lessor balance sheet, net investment in direct financing and sales type leases✕    1,0861,182
Intangible assets, net (including goodwill)128,946128,519127,836122,775120,244105,70830,434
Goodwill24,38924,61429,17227,20525,33124,63924,634
Intangible assets, net (excluding goodwill)104,557103,90598,66495,57094,91381,0695,800
Disposal group, including discontinued operation, noncurrent assets   61310,267 ✕
Other noncurrent assets10,14111,7179,7878,5367,5126,6284,535
Other undisclosed noncurrent assets     (2,246)74,565
Total noncurrent assets:254,254230,193227,230217,785222,360203,085203,104
TOTAL ASSETS:291,727264,829257,143244,180244,640232,708274,098
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:21,80622,50121,23219,59319,36216,68016,453
Accounts payable7,7257,2327,0637,0846,3915,5984,954
Accrued liabilities5,9845,9486,7565,7175,2814,0163,954
Employee-related liabilities4,8856,2684,5213,8134,1074,131 
Taxes payable1,7711,4831,4831,5162,0541,4571,556
Interest and dividends payable1,4411,5701,4091,4631,5293,785 
Other undisclosed accounts payable and accrued liabilities     (2,307)5,989
Debt10,7777,1903,4532,6456,4892,7353,933
Disposal group, including discontinued operation   24463  
Other liabilities9,0248,2398,3528,0788,7388,6496,664
Other undisclosed current liabilities3,261      
Total current liabilities:44,86837,93033,03730,34035,05228,06427,050
Noncurrent Liabilities
Long-term debt and lease obligation, including:100,712105,873113,642105,433103,705110,53689,658
Long-term debt, excluding current maturities      89,658
Finance lease, liability780✕✕✕✕✕✕
Capital lease obligations✕589638615686358202
Operating lease, liability18,393✕✕✕✕✕✕
Other undisclosed long-term debt and lease obligation81,539105,284113,004104,818103,019110,178(202)
Liabilities, other than long-term debt64,91932,52165,77784,37588,04182,08261,974
Pension and other postretirement defined benefit plans, liabilities✕✕✕✕✕✕27,682
Deferred tax liabilities, net✕ 31,23245,96445,48441,57828,639
Deferred income tax liabilities34,703✕✕✕✕✕✕
Liability, pension and other postretirement and postemployment benefits17,95218,59922,11226,16629,95733,280✕
Financial instruments subject to mandatory redemption, settlement terms, share value, amount     1,650 
Disposal group, including discontinued operation, liabilities   6959  
Other liabilities12,26413,92212,43312,23911,6415,5745,653
Other undisclosed noncurrent liabilities18,39333,795   (1,650) 
Total noncurrent liabilities:184,024172,189179,419189,808191,746190,968151,632
Total liabilities:228,892210,119212,456220,148226,798219,032178,682
Stockholders' equity
Stockholders' equity attributable to parent61,17352,79242,68022,07516,00011,87438,415
Common stock429429424424424424297
Treasury stock, value(6,820)(6,986)(7,139)(7,263)(7,416)(3,263)(3,961)
Additional paid in capital13,41913,43711,10111,18211,19611,15537,939
Accumulated other comprehensive income9982,3702,6592,6735501,1112,358
Retained earnings53,14743,54235,63515,05911,2462,4471,782
Stockholders' equity attributable to noncontrolling interest1,4401,5651,5911,5081,4141,37856,580
Other undisclosed stockholders' equity222353416449428424421
Total stockholders' equity:62,83554,71044,68724,03217,84213,67695,416
TOTAL LIABILITIES AND EQUITY:291,727264,829257,143244,180244,640232,708274,098

Income statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues131,868130,863126,034125,980131,620127,079120,550
Revenue, net✕✕126,034125,980131,620  
Cost of revenue(52,840)(51,818)(51,556)(51,566)(52,811)(49,931)(44,887)
Cost of goods and services sold  (51,556)(51,424)(52,557)(49,931)(44,887)
Gross profit:79,02879,04574,47874,41478,80977,14875,663
Operating expenses(48,650)(56,767)(47,064)(47,355)(45,749)(57,937)(44,410)
Other undisclosed operating income     388715
Operating income:30,37822,27827,41427,05933,06019,59931,968
Nonoperating income (expense)
(Other Nonoperating Income (Expense))		(2,900)2,364(2,010)(1,599)186(1,194)(166)
Interest and debt expense(4,730)(4,833)(4,733)(4,376)(4,920)(4,915)(2,667)
Income from continuing operations before equity method investments, income taxes:22,74819,80920,67121,08428,32613,49029,135
Income (loss) from equity method investments(15)(186)(77)(98)(86)1,780142
Income from continuing operations before income taxes:22,73319,62320,59420,98628,24015,27029,277
Income tax expense (benefit)(2,945)(3,584)9,956(7,378)(9,865)(3,314)(5,730)
Net income:19,78816,03930,55013,60818,37511,95623,547
Net loss attributable to noncontrolling interest(523)(511)(449)(481)(496)(2,331)(12,050)
Net income available to common stockholders, diluted:19,26515,52830,10113,12717,8799,62511,497

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:19,78816,03930,55013,60818,37511,95623,547
Other comprehensive income461284174    
Other undisclosed comprehensive income (loss)(1,833)(1,203)(188)2,123(561)(1,270)108
Comprehensive income:18,41615,12030,53615,73117,81410,68623,655
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(523)(511)449(481)(496)2,308(12,035)
Other undisclosed comprehensive loss, net of tax, attributable to parent  (898)  (4,616) 
Comprehensive income, net of tax, attributable to parent:17,89314,60930,08715,25017,3188,37811,620

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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