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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments22,1712,5942,7452,0792,8804,82011,153
Cash and cash equivalents22,1712,5942,7452,0792,8804,47010,598
Short-term investments     350555
Restricted cash and investments1,1951,221     
Receivables23,91725,42925,10223,49317,51313,45713,993
Inventory, net of allowances, customer advances and progress billings1,7961,4221,3361,0341,2021,2521,153
Inventory1,7961,4221,3361,0341,2021,2521,153
Prepaid expense1,2002,438     
Capitalized contract cost2,4722,578 
Disposal group, including discontinued operation    882792300
Capital leases, lessor balance sheet, net investment in direct financing and sales type leases   34
Other undisclosed current assets1,8431,7915,4533,3073,9181,9563,020
Total current assets:54,59437,47334,63629,91326,39522,28029,623
Noncurrent Assets
Operating lease, right-of-use asset22,53122,694
Property, plant and equipment94,83391,91589,28688,56884,75183,54189,947
Long-term investments and receivables5895586711,0391,1107963,048
Long-term investments5895586711,0391,1107961,962
Capital leases, lessor balance sheet, net investment in direct financing and sales type leases    1,086
Intangible assets, net (including goodwill)130,283128,946128,519127,836122,775120,244105,708
Goodwill24,77324,38924,61429,17227,20525,33124,639
Intangible assets, net (excluding goodwill)105,510104,557103,90598,66495,57094,91381,069
Disposal group, including discontinued operation, noncurrent assets    61310,267 
Other noncurrent assets13,65110,14111,7179,7878,5367,5126,628
Other undisclosed noncurrent assets      (2,246)
Total noncurrent assets:261,887254,254230,193227,230217,785222,360203,085
TOTAL ASSETS:316,481291,727264,829257,143244,180244,640232,708
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:20,65821,80622,50121,23219,59319,36216,680
Accounts payable6,6677,7257,2327,0637,0846,3915,598
Accrued liabilities6,0505,9845,9486,7565,7175,2814,016
Employee-related liabilities5,0574,8856,2684,5213,8134,1074,131
Taxes payable1,4321,7711,4831,4831,5162,0541,457
Interest and dividends payable1,4521,4411,5701,4091,4631,5293,785
Other undisclosed accounts payable and accrued liabilities      (2,307)
Debt5,88910,7777,1903,4532,6456,4892,735
Disposal group, including discontinued operation    24463 
Other liabilities9,6289,0248,2398,3528,0788,7388,649
Other undisclosed current liabilities3,4853,261     
Total current liabilities:39,66044,86837,93033,03730,34035,05228,064
Noncurrent Liabilities
Long-term debt and lease obligation, including:123,173100,712105,873113,642105,433103,705110,536
Finance lease, liability916780
Capital lease obligations589638615686358
Operating lease, liability18,00018,393
Other undisclosed long-term debt and lease obligation104,25781,539105,284113,004104,818103,019110,178
Liabilities, other than long-term debt66,37664,91932,52165,77784,37588,04182,082
Deferred tax liabilities, net 31,23245,96445,48441,578
Deferred income tax liabilities35,71134,703
Liability, pension and other postretirement and postemployment benefits18,65717,95218,59922,11226,16629,95733,280
Financial instruments subject to mandatory redemption, settlement terms, share value, amount      1,650
Disposal group, including discontinued operation, liabilities    6959 
Other liabilities12,00812,26413,92212,43312,23911,6415,574
Other undisclosed noncurrent liabilities18,00018,39333,795   (1,650)
Total noncurrent liabilities:207,549184,024172,189179,419189,808191,746190,968
Total liabilities:247,209228,892210,119212,456220,148226,798219,032
Stockholders' equity
Stockholders' equity attributable to parent67,50761,17352,79242,68022,07516,00011,874
Common stock429429429424424424424
Treasury stock, value(6,719)(6,820)(6,986)(7,139)(7,263)(7,416)(3,263)
Additional paid in capital13,40413,41913,43711,10111,18211,19611,155
Accumulated other comprehensive income (loss)(71)9982,3702,6592,6735501,111
Retained earnings60,46453,14743,54235,63515,05911,2462,447
Stockholders' equity attributable to noncontrolling interest1,4301,4401,5651,5911,5081,4141,378
Other undisclosed stockholders' equity335222353416449428424
Total stockholders' equity:69,27262,83554,71044,68724,03217,84213,676
TOTAL LIABILITIES AND EQUITY:316,481291,727264,829257,143244,180244,640232,708

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues128,292131,868130,863126,034125,980131,620127,079
Revenue, net126,034125,980131,620 
Cost of revenue(49,474)(52,840)(51,818)(51,556)(51,566)(52,811)(49,931)
Cost of goods and services sold   (51,556)(51,424)(52,557)(49,931)
Gross profit:78,81879,02879,04574,47874,41478,80977,148
Operating expenses(50,020)(48,650)(56,767)(47,064)(47,355)(45,749)(57,937)
Other undisclosed operating income      388
Operating income:28,79830,37822,27827,41427,05933,06019,599
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(539)(2,900)2,364(2,010)(1,599)186(1,194)
Interest and debt expense(4,247)(4,730)(4,833)(4,733)(4,376)(4,920)(4,915)
Income from continuing operations before equity method investments, income taxes:24,01222,74819,80920,67121,08428,32613,490
Income (loss) from equity method investments(45)(15)(186)(77)(98)(86)1,780
Income from continuing operations before income taxes:23,96722,73319,62320,59420,98628,24015,270
Income tax expense (benefit)(5,619)(2,945)(3,584)9,956(7,378)(9,865)(3,314)
Net income:18,34819,78816,03930,55013,60818,37511,956
Net loss attributable to noncontrolling interest(547)(523)(511)(449)(481)(496)(2,331)
Net income available to common stockholders, diluted:17,80119,26515,52830,10113,12717,8799,625

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:18,34819,78816,03930,55013,60818,37511,956
Other comprehensive income (loss)(1,069)461284174   
Other undisclosed comprehensive income (loss) (1,833)(1,203)(188)2,123(561)(1,270)
Comprehensive income:17,27918,41615,12030,53615,73117,81410,686
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(547)(523)(511)449(481)(496)2,308
Other undisclosed comprehensive loss, net of tax, attributable to parent   (898)  (4,616)
Comprehensive income, net of tax, attributable to parent:16,73217,89314,60930,08715,25017,3188,378

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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