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 investments | 683 | 354 | 362 | 522 | 936 | 682 | 880 | ||
| Cash and cash equivalents | 683 | 354 | 362 | 522 | 936 | 682 | 880 | ||
| Restricted cash and investments | 8,444 | 11 | |||||||
| Receivables | 654 | 723 | 819 | 938 | 571 | 670 | 479 | ||
| Prepaid expense | 110 | 86 | 78 | 88 | 100 | 61 | 69 | ||
| Capitalized contract cost | 105 | 107 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Disposal group, including discontinued operation | 1,402 | ||||||||
| Other current assets | 55 | 60 | 64 | 108 | 80 | 129 | 180 | ||
| Other undisclosed current assets | (56) | ||||||||
| Total current assets: | 3,009 | 1,330 | 1,323 | 1,656 | 10,131 | 1,486 | 1,619 | ||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset | 170 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Operating lease, right-of-use asset | 196 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 12,973 | 14,187 | 14,377 | 14,902 | 8,493 | 8,566 | 7,256 | ||
| Intangible assets, net (including goodwill) | (8,034) | 7,877 | 9,087 | 12,336 | 8,309 | 10,205 | 7,553 | ||
| Goodwill | (9,154) | 6,383 | 7,024 | 9,674 | 7,166 | 7,205 | 6,338 | ||
| Intangible assets, net (excluding goodwill) | 1,120 | 1,494 | 2,063 | 2,662 | 1,143 | 3,000 | 1,215 | ||
| Contract with customer, asset, net | 15 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Restricted cash and investments | 2 | ||||||||
| Other noncurrent assets | 459 | 265 | 97 | 119 | 151 | 217 | 206 | ||
| Other undisclosed noncurrent assets | 8,773 | (1,500) | |||||||
| Total noncurrent assets: | 14,552 | 22,329 | 23,561 | 27,357 | 16,953 | 17,488 | 15,017 | ||
| TOTAL ASSETS: | 17,561 | 23,659 | 24,884 | 29,013 | 27,084 | 18,974 | 16,635 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 999 | 1,097 | 1,150 | 1,292 | 990 | 797 | 582 | ||
| Accounts payable | 453 | 495 | 564 | 698 | 467 | 379 | 327 | ||
| Employee-related liabilities | 39 | 39 | 29 | 23 | 33 | 124 | |||
| Taxes payable | 213 | 182 | 156 | 134 | 87 | 80 | 66 | ||
| Interest and dividends payable | 294 | 381 | 401 | 437 | 403 | 214 | 189 | ||
| Deferred revenue | 44 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Debt | 994 | 814 | 656 | 363 | 384 | 298 | 2,158 | ||
| Disposal group, including discontinued operation | 134 | ||||||||
| Deferred revenue and credits | ✕ | ✕ | 270 | 301 | 160 | 179 | 137 | ||
| Contract with customer, liability | ✕ | 49 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other liabilities | 386 | 303 | 330 | 488 | 359 | 238 | 324 | ||
| Other undisclosed current liabilities | 183 | 298 | 102 | (1,900) | |||||
| Total current liabilities: | 2,740 | 2,561 | 2,508 | 2,444 | 1,893 | 1,512 | 1,302 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 16,305 | 16,358 | 16,970 | 17,560 | 15,508 | 9,486 | 7,874 | ||
| Long-term debt, excluding current maturities | 16,305 | 16,358 | 16,970 | 17,560 | 15,508 | 9,486 | 7,874 | ||
| Liabilities, other than long-term debt | 2,057 | 3,140 | 3,132 | 4,490 | 4,069 | 4,319 | 3,405 | ||
| Pension and other postretirement defined benefit plans, liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 725 | ||
| Deferred revenue | 18 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Deferred tax liabilities, net | ✕ | 1,109 | 1,139 | 2,516 | 2,666 | 2,939 | 2,417 | ||
| Liability, pension and other postretirement and postemployment benefits | 1,641 | 1,750 | 1,676 | 1,602 | 1,163 | 1,141 | ✕ | ||
| Other liabilities | 398 | 281 | 317 | 372 | 240 | 239 | 262 | ||
| Other undisclosed noncurrent liabilities | 562 | ||||||||
| Total noncurrent liabilities: | 18,924 | 19,498 | 20,102 | 22,050 | 19,577 | 13,804 | 11,278 | ||
| Total liabilities: | 21,664 | 22,059 | 22,610 | 24,494 | 21,470 | 15,316 | 12,580 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | (4,103) | 1,600 | 2,274 | 4,519 | 5,614 | 3,658 | 4,055 | ||
| Common stock | 27 | 27 | 20 | 298 | 298 | 257 | 257 | ||
| Treasury stock, value | (12) | (14) | (151) | (215) | (278) | (294) | (338) | ||
| Additional paid in capital | 4,810 | 4,802 | 5,034 | 5,283 | 6,034 | 3,990 | 4,321 | ||
| Accumulated other comprehensive loss | (517) | (463) | (366) | (387) | (353) | (404) | (261) | ||
| Retained earnings (accumulated deficit) | (8,411) | (2,752) | (2,263) | (460) | (87) | 109 | 76 | ||
| Total stockholders' equity: | (4,103) | 1,600 | 2,274 | 4,519 | 5,614 | 3,658 | 4,055 | ||
| TOTAL LIABILITIES AND EQUITY: | 17,561 | 23,659 | 24,884 | 29,013 | 27,084 | 18,974 | 16,635 | ||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 8,289 | 8,611 | 9,128 | 8,896 | 5,576 | 4,772 | 4,762 | |
| 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: | 6,862 | 7,170 | 4,174 | 4,330 | 2,480 | 4,307 | 4,331 | |
| Operating expenses | (5,472) | (5,742) | (3,442) | (1,735) | (3,953) | (3,795) | ||
| Other undisclosed operating income (loss) | (6,357) | (6,343) | 465 | 446 | ||||
| Operating income (loss): | (4,967) | 827 | (1,568) | 888 | 745 | 820 | 981 | |
| Nonoperating income (expense) | (31) | 13 | 3 | 20 | 7 | 39 | 5 | |
| 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) | 163 | 163 | |
| Income tax expense (benefit) | 588 | 62 | 1,383 | 250 | 165 | (31) | (47) | |
| Net income (loss): | (5,968) | (643) | (1,804) | (373) | (196) | 133 | 115 | |
| Net loss attributable to noncontrolling interest | (3) | |||||||
| Net income (loss) attributable to parent: | (5,968) | (643) | (1,804) | (373) | (196) | 133 | 113 | |
| 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) | 130 | 110 | |
| 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) | 130 | 110 | |
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) | 133 | 115 | |
| Other comprehensive income (loss) | 31 | (7) | (34) | 51 | (144) | 196 | ||
| Other undisclosed comprehensive income | 31 | 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.