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  354362522
Cash and cash equivalents  354362522
Receivables  723819938
Prepaid expense  867888
Capitalized contract cost  107
Other current assets  6064108
Total current assets:  1,3301,3231,656
Noncurrent Assets
Property, plant and equipment  14,18714,37714,902
Intangible assets, net (including goodwill)  7,8779,08712,336
Goodwill  6,3837,0249,674
Intangible assets, net (excluding goodwill)  1,4942,0632,662
Other noncurrent assets  26597119
Total noncurrent assets:  22,32923,56127,357
TOTAL ASSETS:  23,65924,88429,013
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities  1,0971,1501,292
Accounts payable  495564698
Employee-related liabilities  392923
Taxes payable  182156134
Interest and dividends payable  381401437
Debt  814656363
Deferred revenue and credits270301
Contract with customer, liability49
Other liabilities  303330488
Other undisclosed current liabilities  298102 
Total current liabilities:  2,5612,5082,444
Noncurrent Liabilities
Long-term debt and lease obligation  16,35816,97017,560
Long-term debt, excluding current maturities  16,35816,97017,560
Liabilities, other than long-term debt  3,1403,1324,490
Deferred tax liabilities, net1,1091,1392,516
Liability, pension and other postretirement and postemployment benefits  1,7501,6761,602
Other liabilities  281317372
Total noncurrent liabilities:  19,49820,10222,050
Total liabilities:  22,05922,61024,494
Stockholders' equity
Stockholders' equity attributable to parent  1,6002,2744,519
Common stock  2720298
Treasury stock, value  (14)(151)(215)
Additional paid in capital  4,8025,0345,283
Accumulated other comprehensive loss  (463)(366)(387)
Accumulated deficit  (2,752)(2,263)(460)
Total stockholders' equity:  1,6002,2744,519
TOTAL LIABILITIES AND EQUITY:  23,65924,88429,013

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues  8,6119,1288,896
Cost of revenue  (1,441)(4,954)(4,566)
Cost of goods and services sold  (1,441)(1,597)(1,470)
Gross profit:  7,1704,1744,330
Operating expenses   (5,742)(3,442)
Other undisclosed operating loss  (6,343)  
Operating income (loss):  827(1,568)888
Nonoperating income  13320
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  621,383250
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.

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