Frontier Communications Corporation (FTR) financial statements (2021 and earlier)
Company profile
| Business Address |
401 MERRITT 7 NORWALK, CT 06851 |
| 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 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 354 | 362 | 522 | ||||
| Cash and cash equivalents | 354 | 362 | 522 | ||||
| Receivables | 723 | 819 | 938 | ||||
| Prepaid expense | 86 | 78 | 88 | ||||
| Capitalized contract cost | 107 | ✕ | ✕ | ||||
| Other current assets | 60 | 64 | 108 | ||||
| Total current assets: | 1,330 | 1,323 | 1,656 | ||||
| Noncurrent Assets | |||||||
| Property, plant and equipment | 14,187 | 14,377 | 14,902 | ||||
| Intangible assets, net (including goodwill) | 7,877 | 9,087 | 12,336 | ||||
| Goodwill | 6,383 | 7,024 | 9,674 | ||||
| Intangible assets, net (excluding goodwill) | 1,494 | 2,063 | 2,662 | ||||
| Other noncurrent assets | 265 | 97 | 119 | ||||
| Total noncurrent assets: | 22,329 | 23,561 | 27,357 | ||||
| TOTAL ASSETS: | 23,659 | 24,884 | 29,013 | ||||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities | 1,097 | 1,150 | 1,292 | ||||
| Accounts payable | 495 | 564 | 698 | ||||
| Employee-related liabilities | 39 | 29 | 23 | ||||
| Taxes payable | 182 | 156 | 134 | ||||
| Interest and dividends payable | 381 | 401 | 437 | ||||
| Debt | 814 | 656 | 363 | ||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | 270 | 301 | ||
| Contract with customer, liability | ✕ | ✕ | 49 | ✕ | ✕ | ||
| Other liabilities | 303 | 330 | 488 | ||||
| Other undisclosed current liabilities | 298 | 102 | |||||
| Total current liabilities: | 2,561 | 2,508 | 2,444 | ||||
| Noncurrent Liabilities | |||||||
| Long-term debt and lease obligation | 16,358 | 16,970 | 17,560 | ||||
| Long-term debt, excluding current maturities | 16,358 | 16,970 | 17,560 | ||||
| Liabilities, other than long-term debt | 3,140 | 3,132 | 4,490 | ||||
| Deferred tax liabilities, net | ✕ | ✕ | 1,109 | 1,139 | 2,516 | ||
| Liability, pension and other postretirement and postemployment benefits | 1,750 | 1,676 | 1,602 | ||||
| Other liabilities | 281 | 317 | 372 | ||||
| Total noncurrent liabilities: | 19,498 | 20,102 | 22,050 | ||||
| Total liabilities: | 22,059 | 22,610 | 24,494 | ||||
| Stockholders' equity | |||||||
| Stockholders' equity attributable to parent | 1,600 | 2,274 | 4,519 | ||||
| Common stock | 27 | 20 | 298 | ||||
| Treasury stock, value | (14) | (151) | (215) | ||||
| Additional paid in capital | 4,802 | 5,034 | 5,283 | ||||
| Accumulated other comprehensive loss | (463) | (366) | (387) | ||||
| Accumulated deficit | (2,752) | (2,263) | (460) | ||||
| Total stockholders' equity: | 1,600 | 2,274 | 4,519 | ||||
| TOTAL LIABILITIES AND EQUITY: | 23,659 | 24,884 | 29,013 | ||||
Income statement (P&L) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|
| Revenues | 8,611 | 9,128 | 8,896 | |||
| Cost of revenue | (1,441) | (4,954) | (4,566) | |||
| Cost of goods and services sold | (1,441) | (1,597) | (1,470) | |||
| Gross profit: | 7,170 | 4,174 | 4,330 | |||
| Operating expenses | (5,742) | (3,442) | ||||
| Other undisclosed operating loss | (6,343) | |||||
| Operating income (loss): | 827 | (1,568) | 888 | |||
| Nonoperating income | 13 | 3 | 20 | |||
| Other nonoperating income (expense) | (3) | (3) | 1 | |||
| Interest and debt expense | (1,504) | (1,622) | (1,531) | |||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (41) | |||||
| Loss from continuing operations before income taxes: | (705) | (3,187) | (623) | |||
| Income tax benefit | 62 | 1,383 | 250 | |||
| Net loss attributable to parent: | (643) | (1,804) | (373) | |||
| Preferred stock dividends and other adjustments | (107) | (214) | (214) | |||
| Net loss available to common stockholders, basic: | (750) | (2,018) | (587) | |||
| Other undisclosed net loss available to common stockholders, diluted | (2) | |||||
| Net loss available to common stockholders, diluted: | (750) | (2,020) | (587) | |||
Comprehensive Income ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|
| Net loss: | (643) | (1,804) | (373) | |||
| Other comprehensive income (loss) | 31 | (7) | (34) | |||
| Comprehensive loss: | (612) | (1,811) | (407) | |||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (128) | 28 | ||||
| Comprehensive loss, net of tax, attributable to parent: | (740) | (1,783) | (407) | |||
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.