Verso Corporation (VRS) financial statements (2021 and earlier)

Company profile

Business Address 8540 GANDER CREEK DRIVE
MIAMISBURG, OH 45342
State of Incorp. DE
Fiscal Year End December 31
SIC 2621 - Paper Mills (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)
Annual | Quarterly

12/31/2020
12/31/2019
12/31/2018
12/31/2016
6/30/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1374226  46
Cash and cash equivalents1374226  46
Receivables83155197(1) 22688
Inventory, net of allowances, customer advances and progress billings224395398  484111
Inventory224395398  484111
Disposal group, including discontinued operation17    561
Other undisclosed current assets5712  3211
Total current assets:466599633(1) 751276
Noncurrent Assets
Finance lease, right-of-use asset57✕✕✕✕✕
Operating lease, right-of-use asset1414✕✕✕✕✕
Property, plant and equipment  1,016  1,857531
Intangible assets, net (including goodwill)     1015
Intangible assets, net (excluding goodwill)     1015
Regulated entity, other noncurrent assets222  18 
Disposal group, including discontinued operation, noncurrent assets      1
Deferred costs4     21
Deferred income tax assets122118✕✕✕✕✕
Other noncurrent assets     6457
Other undisclosed noncurrent assets63298148  10(22)
Total noncurrent assets:7791,1221,066  1,959602
TOTAL ASSETS:1,2451,7211,699(1) 2,710878
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities172291333  380391
Accounts payable80188215  11363
Accrued liabilities92103118  267205
Employee-related liabilities      43
Taxes payable      1
Interest and dividends payable      78
Debt12   2,87930
Derivative instruments and hedges, liabilities      6
Restructuring reserve      24
Asset retirement obligation      0
Other undisclosed current liabilities      (151)
Total current liabilities:173293333  3,259300
Noncurrent Liabilities
Long-term debt and lease obligation, including:45    1,297
Long-term debt, excluding current maturities      1,297
Finance lease, liability45✕✕✕✕✕
Operating lease, liability 6✕✕✕✕✕
Other undisclosed long-term debt and lease obligation (6)     
Liabilities, other than long-term debt, including:384413213 63464
Deferred compensation liability, classified 43   4
Asset retirement obligations 151313 168
Deferred tax liabilities, net✕✕   84
Liability, pension and other postretirement and postemployment benefits350    55841
Other liabilities3411  151
Other undisclosed liabilities, other than long-term debt 2115  378
Other undisclosed noncurrent liabilities 369428    
Total noncurrent liabilities:38841546013 6341,361
Total liabilities:56170879313 3,8931,662
Stockholders' equity
Stockholders' equity attributable to parent6841,013906  (1,183)(784)
Common stock     11
Treasury stock, value(39)(5)(2)  (1)(0)
Additional paid in capital705698686  321223
Accumulated other comprehensive income (loss)60122120  (102)(27)
Retained earnings (accumulated deficit)(42)198102  (1,402)(980)
Stockholders' equity attributable to noncontrolling interest      8
Other undisclosed stockholders' equity      (8)
Total stockholders' equity:6841,013906  (1,183)(784)
TOTAL LIABILITIES AND EQUITY:1,2451,7211,69913 2,710878

Income statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2020
12/31/2019
12/31/2018
12/31/2016
6/30/2016
12/31/2015
12/31/2014
Revenues1,3592,4442,682  3,1211,297
Revenue, net✕✕✕  3,1221,297
Cost of revenue(1,334)(2,138)   (308)(1,259)
Cost of goods and services sold(1,334)(2,138)   (308)(91)
Gross profit:253062,682  2,81337
Operating expenses(89)(156)(103)  (241)(212)
Other operating income (expense), net89(4)5    
Other undisclosed operating loss(153)(183)(2,432)  (2,727) 
Operating income (loss):(128)(37)152  (155)(175)
Nonoperating income (expense)191852   (39)
Other nonoperating income (expense)191852   (39)
Interest and debt expense(1)(2)(33)  (270)(142)
Income (loss) from continuing operations before income taxes:(110)(21)171  (425)(356)
Income tax expense (benefit)9117(4)  33
Net income (loss):(101)96167  (422)(353)
Other undisclosed net income attributable to parent  4    
Net income (loss) available to common stockholders, diluted:(101)96171  (422)(353)

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2020
12/31/2019
12/31/2018
12/31/2016
6/30/2016
12/31/2015
12/31/2014
Net income (loss):(101)96167  (422)(353)
Other comprehensive income (loss)(62)2(19)251 (75)(16)
Comprehensive income (loss):(163)98148251 (497)(369)
Other undisclosed comprehensive income, net of tax, attributable to parent  4    
Comprehensive income (loss), net of tax, attributable to parent:(163)98152251 (497)(369)

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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