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
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments22,1718,9837,8827,0472,5943,0201,949
Cash and cash equivalents22,1718,9837,8827,0472,5943,0201,949
Restricted cash and investments1,195   1,221  
Receivables23,91722,61722,67223,79725,42924,71324,926
Inventory, net of allowances, customer advances and progress billings1,7961,4571,2891,6331,4221,5381,167
Inventory1,7961,4571,2891,6331,4221,5381,167
Prepaid expense1,200   2,438  
Capitalized contract cost2,472   2,578  
Other undisclosed current assets1,8435,5155,4908,2281,7915,6245,266
Total current assets:54,59438,57237,33340,70537,47334,89533,308
Noncurrent Assets
Operating lease, right-of-use asset22,53122,68022,43122,47222,69422,218 
Property, plant and equipment94,83393,18292,75492,17791,91588,84987,818
Long-term investments and receivables589535529543558628650
Long-term investments589535529543558628650
Intangible assets, net (including goodwill)130,283130,356130,034126,224128,946128,267128,439
Goodwill24,77324,79924,66724,38224,38924,57024,632
Intangible assets, net (excluding goodwill)105,510105,557105,367101,842104,557103,697103,807
Other noncurrent assets13,65111,66910,17812,37910,14110,01810,426
Other undisclosed noncurrent assets      22,467
Total noncurrent assets:261,887258,422255,926253,795254,254249,980249,800
TOTAL ASSETS:316,481296,994293,259294,500291,727284,875283,108
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:20,65817,39119,29717,41921,80619,56617,633
Accounts payable6,667   7,725  
Accrued liabilities6,050   5,984  
Employee-related liabilities5,057   4,885  
Taxes payable1,432   1,771  
Interest and dividends payable1,452   1,441  
Other undisclosed accounts payable and accrued liabilities 17,39119,29717,419 19,56617,633
Debt5,8895,7709,92114,50610,7777,8308,773
Other liabilities9,6289,5309,6689,1329,0248,8548,654
Other undisclosed current liabilities3,4853,494  3,2612,9593,154
Total current liabilities:39,66036,18538,88641,05744,86839,20938,214
Noncurrent Liabilities
Long-term debt and lease obligation, including:123,173109,790106,190106,561100,712101,769104,598
Finance lease, liability916   780667 
Operating lease, liability18,00018,15518,15818,11718,39318,214 
Other undisclosed long-term debt and lease obligation104,25791,63588,03288,44481,53982,888104,598
Liabilities, other than long-term debt66,37666,33465,91267,11264,91965,37129,870
Deferred income tax liabilities35,71134,56733,79833,70934,70334,592 
Liability, pension and other postretirement and postemployment benefits18,65718,75617,82117,61717,95218,23618,040
Other liabilities12,00813,01114,29315,78612,26412,54311,830
Other undisclosed noncurrent liabilities18,00018,15518,15818,11718,39318,21452,479
Total noncurrent liabilities:207,549194,279190,260191,790184,024185,354186,947
Total liabilities:247,209230,464229,146232,847228,892224,563225,161
Stockholders' equity
Stockholders' equity attributable to parent67,50764,77362,46060,06161,17358,72456,417
Common stock429429429429429429429
Treasury stock, value(6,719)(6,721)(6,722)(6,725)(6,820)(6,822)(6,823)
Additional paid in capital13,40413,40413,28113,30213,41913,41813,419
Accumulated other comprehensive income (loss)(71)(812)(1,274)(1,502)9981,1041,447
Retained earnings60,46458,47356,74654,55753,14750,59547,945
Stockholders' equity attributable to noncontrolling interest1,4301,4611,4161,4431,4401,3911,365
Other undisclosed stockholders' equity335296237149222197165
Total stockholders' equity:69,27266,53064,11361,65362,83560,31257,947
TOTAL LIABILITIES AND EQUITY:316,481296,994293,259294,500291,727284,875283,108

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

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Revenues34,69231,54330,44731,61034,77532,89432,071
Cost of revenue(14,195)(12,334)(11,749)(11,743)(14,615)(13,645)(12,721)
Gross profit:20,49719,20918,69819,86720,16019,24919,350
Operating expenses(13,317)(11,531)(11,337)(13,288)(13,521)(11,069)(11,500)
Operating income:7,1807,6787,3616,5796,6398,1807,850
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
164(774)(72)143(1,773)(110)(1,312)
Interest and debt expense(1,080)(1,044)(1,089)(1,034)(1,159)(1,146)(1,215)
Income from continuing operations before equity method investments, income taxes:6,2645,8606,2005,6883,7076,9245,323
Income (loss) from equity method investments(11)(9)(13)(12)5(1)(13)
Income from continuing operations before income taxes:6,2535,8516,1875,6763,7126,9235,310
Income tax expense (benefit)(1,535)(1,347)(1,348)(1,389)1,505(1,586)(1,236)
Net income:4,7184,5044,8394,2875,2175,3374,074
Net loss attributable to noncontrolling interest(130)(147)(139)(131)(122)(143)(130)
Net income available to common stockholders, diluted:4,5884,3574,7004,1565,0955,1943,944

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net income:4,7184,5044,8394,2875,2175,3374,074
Other comprehensive income (loss)741(112)(76)(2,500)1,72710459
Other undisclosed comprehensive income (loss) 574304 (1,833)(447)(828)
Comprehensive income:5,4594,9665,0671,7875,1114,9943,305
Comprehensive loss, net of tax, attributable to noncontrolling interest(130)(147)(139)(131)(122)(143)(130)
Comprehensive income, net of tax, attributable to parent:5,3294,8194,9281,6564,9894,8513,175

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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