LEVEL 3 PARENT, LLC (LVLT) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1903162432971,819854580
Cash and cash equivalents1903162432971,819854580
Restricted cash and investments 345787
Receivables2,1512,2572,5372,586712757737
Inventory, net of allowances, customer advances and progress billings   3   
Inventory   3   
Disposal group, including discontinued operation   140   
Other current assets297266234117115130165
Other undisclosed current assets   (3)   
Total current assets:2,6382,8423,0183,1452,6531,7491,489
Noncurrent Assets
Operating lease, right-of-use asset 1,060
Property, plant and equipment10,5189,9369,4539,41210,1399,8789,860
Intangible assets, net (including goodwill)14,0107,88411,52911,2158,6448,8769,103
Goodwill7,4057,41511,11910,8377,7297,7497,689
Intangible assets, net (excluding goodwill)6,6054694103789151,1271,414
Restricted cash and investments 192529314220
Other noncurrent assets1,4104926996351159475
Deferred tax assets, net 4263,3703,441 
Other undisclosed noncurrent assets 6,8657,5678,845   
Total noncurrent assets:25,93826,25629,27329,99022,23522,39619,458
TOTAL ASSETS:28,57629,09832,29133,13524,88824,14520,947
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3311,1311,1841,0401,0309551,111
Accounts payable 654726695706629664
Employee-related liabilities220240233136195218273
Taxes payable111152130100   
Interest and dividends payable 8595109129108174
Deferred revenue315309
Debt141168715349
Due to related parties86966924641   
Deferred revenue and credits258266267287
Contract with customer, liability310
Other liabilities159777857168179167
Other undisclosed current liabilities736249 2   
Total current liabilities:2,4242,4461,8241,4061,4711,4161,914
Noncurrent Liabilities
Long-term debt and lease obligation, including:10,37310,35610,83810,88210,87710,99410,984
Finance lease, liability241160
Capital lease obligations157    
Operating lease, liability903854
Other undisclosed long-term debt and lease obligation9,2299,34210,68110,88210,87710,99410,984
Liabilities, other than long-term debt, including:2,2182,7511,7521,5691,6231,6092,011
Deferred revenue and credits1,0931,001977921
Deferred revenue1,3961,343
Contract with customer, liability1,181
Deferred tax liabilities, net202212  325
Deferred income tax liabilities247 
Other liabilities575313369264622632765
Other undisclosed liabilities, other than long-term debt 1,095     
Other undisclosed noncurrent liabilities      (325)
Total noncurrent liabilities:12,59113,10712,59012,45112,50012,60312,670
Total liabilities:15,01515,55314,41413,85713,97114,01914,584
Stockholders' equity
Stockholders' equity attributable to parent, including:12,90513,54517,87719,27210,91710,1266,363
Common stock    443
Additional paid in capital    19,80019,64219,159
Accumulated other comprehensive income (loss)(234)(179)(171)18(387)(301)(147)
Accumulated deficit    (8,500)(9,219)(12,652)
Other undisclosed stockholders' equity attributable to parent13,13913,72418,04819,254   
Total stockholders' equity:12,90513,54517,87719,27210,91710,1266,363
Other undisclosed liabilities and equity656  6   
TOTAL LIABILITIES AND EQUITY:28,57629,09832,29133,13524,88824,14520,947

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues7,9338,1858,2208,2778,1728,2296,777
Cost of revenue(4,639)(4,894)(5,077) (5,003)(5,041)(4,362)
Cost of goods and services sold(3,486)(3,799)(3,937)    
Gross profit:3,2943,2913,1438,2773,1693,1882,415
Operating expenses(2,130)(5,818)(2,175) (1,725)(1,857)(1,402)
Other undisclosed operating loss   (6,968)   
Operating income (loss):1,164(2,527)9681,3091,4441,3311,013
Nonoperating income (expense)101(419)(431) (16)(188)(68)
Investment income, nonoperating516167 4(170)1
Other nonoperating income (expense)508  (20)(18)(69)
Interest and debt expense(393)(502)(509) (586)(860)(707)
Other undisclosed income from continuing operations before equity method investments, income taxes 502509    
Income (loss) from continuing operations before income taxes:872(2,946)5371,309842283238
Income tax expense (benefit)(221)(255)(196) (165)3,15076
Net income (loss):651(3,201)3411,3096773,433314
Other undisclosed net loss attributable to parent   (1,025)   
Net income (loss) available to common stockholders, diluted:651(3,201)3412846773,433314

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):651(3,201)3411,3096773,433314
Other comprehensive loss(43)(8)(195) (86)(154)(5)
Comprehensive income (loss):608(3,209)1461,3095913,279309
Other undisclosed comprehensive loss, net of tax, attributable to parent(12)     (178)
Comprehensive income (loss), net of tax, attributable to parent:596(3,209)1461,3095913,279131

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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