Frontier Communications Corporation (FTR) financial statements (2020 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)

9/30/2019
TTM
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 investments683354362522936682880
Cash and cash equivalents683354362522936682880
Restricted cash and investments    8,444 11
Receivables654723819938571670479
Prepaid expense1108678881006169
Capitalized contract cost105107
Disposal group, including discontinued operation1,402      
Other current assets55606410880129180
Other undisclosed current assets     (56) 
Total current assets:3,0091,3301,3231,65610,1311,4861,619
Noncurrent Assets
Finance lease, right-of-use asset170
Operating lease, right-of-use asset196
Property, plant and equipment12,97314,18714,37714,9028,4938,5667,256
Intangible assets, net (including goodwill)(8,034)7,8779,08712,3368,30910,2057,553
Goodwill(9,154)6,3837,0249,6747,1667,2056,338
Intangible assets, net (excluding goodwill)1,1201,4942,0632,6621,1433,0001,215
Contract with customer, asset, net15 
Restricted cash and investments      2
Other noncurrent assets45926597119151217206
Other undisclosed noncurrent assets8,773    (1,500) 
Total noncurrent assets:14,55222,32923,56127,35716,95317,48815,017
TOTAL ASSETS:17,56123,65924,88429,01327,08418,97416,635
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities9991,0971,1501,292990797582
Accounts payable453495564698467379327
Employee-related liabilities3939292333124 
Taxes payable213182156134878066
Interest and dividends payable294381401437403214189
Deferred revenue44
Debt9948146563633842982,158
Disposal group, including discontinued operation134      
Deferred revenue and credits270301160179137
Contract with customer, liability49
Other liabilities386303330488359238324
Other undisclosed current liabilities183298102   (1,900)
Total current liabilities:2,7402,5612,5082,4441,8931,5121,302
Noncurrent Liabilities
Long-term debt and lease obligation16,30516,35816,97017,56015,5089,4867,874
Long-term debt, excluding current maturities16,30516,35816,97017,56015,5089,4867,874
Liabilities, other than long-term debt2,0573,1403,1324,4904,0694,3193,405
Pension and other postretirement defined benefit plans, liabilities725
Deferred revenue18
Deferred tax liabilities, net1,1091,1392,5162,6662,9392,417
Liability, pension and other postretirement and postemployment benefits1,6411,7501,6761,6021,1631,141
Other liabilities398281317372240239262
Other undisclosed noncurrent liabilities562      
Total noncurrent liabilities:18,92419,49820,10222,05019,57713,80411,278
Total liabilities:21,66422,05922,61024,49421,47015,31612,580
Stockholders' equity
Stockholders' equity attributable to parent(4,103)1,6002,2744,5195,6143,6584,055
Common stock272720298298257257
Treasury stock, value(12)(14)(151)(215)(278)(294)(338)
Additional paid in capital4,8104,8025,0345,2836,0343,9904,321
Accumulated other comprehensive loss(517)(463)(366)(387)(353)(404)(261)
Retained earnings (accumulated deficit)(8,411)(2,752)(2,263)(460)(87)10976
Total stockholders' equity:(4,103)1,6002,2744,5195,6143,6584,055
TOTAL LIABILITIES AND EQUITY:17,56123,65924,88429,01327,08418,97416,635

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

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues8,2898,6119,1288,8965,5764,7724,762
Cost of revenue(1,427)(1,441)(4,954)(4,566)(3,096)(465)(431)
Cost of goods and services sold (1,441)(1,597)(1,470)(640)(465)(431)
Gross profit:6,8627,1704,1744,3302,4804,3074,331
Operating expenses(5,472) (5,742)(3,442)(1,735)(3,953)(3,795)
Other undisclosed operating income (loss)(6,357)(6,343)   465446
Operating income (loss):(4,967)827(1,568)888745820981
Nonoperating income (expense)(31)133207395
Investment income, nonoperating      4
Other nonoperating income (expense)(2)(3)(3)1 0(0)
Interest and debt expense(1,551)(1,504)(1,622)(1,531)(1,113)(696)(827)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(7)(41)    4
Income (loss) from continuing operations before income taxes:(6,556)(705)(3,187)(623)(361)163163
Income tax expense (benefit)588621,383250165(31)(47)
Net income (loss):(5,968)(643)(1,804)(373)(196)133115
Net loss attributable to noncontrolling interest      (3)
Net income (loss) attributable to parent:(5,968)(643)(1,804)(373)(196)133113
Preferred stock dividends and other adjustments (107)(214)(214)(120)(3)(3)
Net income (loss) available to common stockholders, basic:(5,968)(750)(2,018)(587)(316)130110
Other undisclosed net loss available to common stockholders, diluted  (2)    
Net income (loss) available to common stockholders, diluted:(5,968)(750)(2,020)(587)(316)130110

Comprehensive Income ($ in millions)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):(5,968)(643)(1,804)(373)(196)133115
Other comprehensive income (loss) 31(7)(34)51(144)196
Other undisclosed comprehensive income31     27
Comprehensive income (loss):(5,937)(612)(1,811)(407)(145)(11)339
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(139)(128)28   (3)
Comprehensive income (loss), net of tax, attributable to parent:(6,076)(740)(1,783)(407)(145)(11)336

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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