LEVEL 3 PARENT, LLC (LVLT) financial statements (2020 and earlier)

Company profile

Business Address 1025 ELDORADO BOULEVARD
BROOMFIELD, CO 80021
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)

12/31/2019
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 investments3162432971,819854580631
Cash and cash equivalents3162432971,819854580631
Restricted cash and investments3457877
Receivables2,2572,5372,586712757737673
Inventory, net of allowances, customer advances and progress billings  3   
Inventory  3    
Disposal group, including discontinued operation  140    
Other current assets266234117115130165143
Other undisclosed current assets  (3)    
Total current assets:2,8423,0183,1452,6531,7491,4891,454
Noncurrent Assets
Operating lease, right-of-use asset1,060
Property, plant and equipment9,9369,4539,41210,1399,8789,8608,240
Intangible assets, net (including goodwill)7,88411,52911,2158,6448,8769,1032,782
Goodwill7,41511,11910,8377,7297,7497,6892,577
Intangible assets, net (excluding goodwill)4694103789151,1271,414205
Restricted cash and investments19252931422023
Other noncurrent assets4926996351159475375
Deferred tax assets, net 4263,3703,441  
Other undisclosed noncurrent assets6,8657,5678,845    
Total noncurrent assets:26,25629,27329,99022,23522,39619,45811,420
TOTAL ASSETS:29,09832,29133,13524,88824,14520,94712,874
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,1311,1841,0401,0309551,111834
Accounts payable654726695706629664625
Employee-related liabilities240233136195218273209
Taxes payable152130100    
Interest and dividends payable8595109129108174 
Deferred revenue309
Debt116871534931
Due to related parties66924641    
Deferred revenue and credits258266267287253
Deferred tax liabilities     2
Contract with customer, liability310
Other liabilities777857168179167168
Other undisclosed current liabilities249 2   158
Total current liabilities:2,4461,8241,4061,4711,4161,9141,446
Noncurrent Liabilities
Long-term debt and lease obligation, including:10,35610,83810,88210,87710,99410,9848,331
Finance lease, liability160
Capital lease obligations157     
Operating lease, liability854
Other undisclosed long-term debt and lease obligation9,34210,68110,88210,87710,99410,9848,331
Liabilities, other than long-term debt, including:2,7511,7521,5691,6231,6092,0112,020
Deferred revenue and credits1,0931,001977921906
Deferred revenue1,343
Contract with customer, liability1,181
Deferred tax liabilities, net202212  325334
Other liabilities313369264622632765780
Other undisclosed liabilities, other than long-term debt1,095      
Other undisclosed noncurrent liabilities     (325)(334)
Total noncurrent liabilities:13,10712,59012,45112,50012,60312,67010,017
Total liabilities:15,55314,41413,85713,97114,01914,58411,463
Stockholders' equity
Stockholders' equity attributable to parent, including:13,54517,87719,27210,91710,1266,3631,411
Common stock   4432
Additional paid in capital   19,80019,64219,15914,339
Accumulated other comprehensive income (loss)(179)(171)18(387)(301)(147)36
Accumulated deficit   (8,500)(9,219)(12,652)(12,966)
Other undisclosed stockholders' equity attributable to parent13,72418,04819,254    
Total stockholders' equity:13,54517,87719,27210,91710,1266,3631,411
Other undisclosed liabilities and equity  6    
TOTAL LIABILITIES AND EQUITY:29,09832,29133,13524,88824,14520,94712,874

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues8,1858,2208,2778,1728,2296,7776,313
Cost of revenue(4,894)(5,077) (5,003)(5,041)(4,362)(2,471)
Cost of goods and services sold(3,799)(3,937)     
Gross profit:3,2913,1438,2773,1693,1882,4153,842
Operating expenses(5,818)(2,175) (1,725)(1,857)(1,402)(2,513)
Other undisclosed operating loss  (6,968)   (663)
Operating income (loss):(2,527)9681,3091,4441,3311,013666
Nonoperating expense(419)(431) (16)(188)(68)(4)
Investment income, nonoperating6167 4(170)1 
Other nonoperating income (expense)8  (20)(18)(69)(4)
Interest and debt expense(502)(509) (586)(860)(707)(733)
Other undisclosed income from continuing operations before equity method investments, income taxes502509     
Income (loss) from continuing operations before income taxes:(2,946)5371,309842283238(71)
Income tax expense (benefit)(255)(196) (165)3,15076(38)
Net income (loss):(3,201)3411,3096773,433314(109)
Other undisclosed net loss attributable to parent  (1,025)    
Net income (loss) available to common stockholders, diluted:(3,201)3412846773,433314(109)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):(3,201)3411,3096773,433314(109)
Other comprehensive loss(8)(195) (86)(154)(5) 
Comprehensive income (loss):(3,209)1461,3095913,279309(109)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent     (178)10
Comprehensive income (loss), net of tax, attributable to parent:(3,209)1461,3095913,279131(99)

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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