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)

12/31/2019
12/31/2018
12/31/2016
6/30/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4226  4611
Cash and cash equivalents4226  4611
Receivables155197(1) 22688104
Inventory, net of allowances, customer advances and progress billings395398  484111138
Inventory395398  484111138
Disposal group, including discontinued operation    561 
Assets held-for-sale0
Other undisclosed current assets712  321121
Total current assets:599633(1) 751276274
Noncurrent Assets
Finance lease, right-of-use asset7
Operating lease, right-of-use asset14
Property, plant and equipment 1,016  1,857531743
Intangible assets, net (including goodwill)    10155
Intangible assets, net (excluding goodwill)    10155
Regulated entity, other noncurrent assets22  18  
Disposal group, including discontinued operation, noncurrent assets     1
Deferred costs     2116
Deferred income tax assets118
Other noncurrent assets    645760
Assets held-for-sale, long lived0
Other undisclosed noncurrent assets98148  10(22)(0)
Total noncurrent assets:1,1221,066  1,959602824
TOTAL ASSETS:1,7211,699(1) 2,7108781,099
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities291333  380391252
Accounts payable188215  1136388
Accrued liabilities103118  267205122
Employee-related liabilities     4340
Taxes payable     11
Interest and dividends payable     78 
Debt2   2,8793013
Derivative instruments and hedges, liabilities     65
Restructuring reserve     24
Asset retirement obligation     00
Other undisclosed current liabilities     (151)(47)
Total current liabilities:293333  3,259300224
Noncurrent Liabilities
Long-term debt and lease obligation, including:5    1,2971,235
Long-term debt, excluding current maturities     1,2971,235
Finance lease, liability5
Operating lease, liability6
Other undisclosed long-term debt and lease obligation(6)      
Liabilities, other than long-term debt, including:413213 6346457
Pension and other postretirement defined benefit plans, liabilities25
Deferred compensation liability, classified43   43
Asset retirement obligations151313 16813
Deferred tax liabilities, net   846
Liability, pension and other postretirement and postemployment benefits    55841
Other liabilities11  1511
Other undisclosed liabilities, other than long-term debt2115  3788
Other undisclosed noncurrent liabilities369428     
Total noncurrent liabilities:41546013 6341,3611,292
Total liabilities:70879313 3,8931,6621,516
Stockholders' equity
Stockholders' equity attributable to parent1,013906  (1,183)(784)(417)
Common stock    111
Treasury stock, value(5)(2)  (1)(0)(0)
Additional paid in capital698686  321223221
Accumulated other comprehensive income (loss)122120  (102)(27)(11)
Retained earnings (accumulated deficit)198102  (1,402)(980)(627)
Stockholders' equity attributable to noncontrolling interest     8 
Other undisclosed stockholders' equity     (8) 
Total stockholders' equity:1,013906  (1,183)(784)(417)
TOTAL LIABILITIES AND EQUITY:1,7211,69913 2,7108781,099

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

12/31/2019
12/31/2018
12/31/2016
6/30/2016
12/31/2015
12/31/2014
12/31/2013
Revenues2,4442,682  3,1211,2971,389
Revenue, net  3,1221,2971,389
Cost of revenue(2,138)   (308)(1,259)(1,280)
Cost of goods and services sold(2,138)   (308)(91)(105)
Gross profit:3062,682  2,81337108
Operating expenses(156)(103)  (241)(212)(78)
Other operating income (expense), net(4)5     
Other undisclosed operating income (loss)(183)(2,432)  (2,727) 4
Operating income (loss):(37)152  (155)(175)34
Nonoperating income (expense)1852   (39)(8)
Other nonoperating income (expense)1852   (39)(8)
Interest and debt expense(2)(33)  (270)(142)(138)
Income (loss) from continuing operations before income taxes:(21)171  (425)(356)(112)
Income tax expense (benefit)117(4)  331
Net income (loss):96167  (422)(353)(111)
Other undisclosed net income attributable to parent 4     
Net income (loss) available to common stockholders, diluted:96171  (422)(353)(111)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2016
6/30/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):96167  (422)(353)(111)
Other comprehensive income (loss)2(19)251 (75)(16)14
Comprehensive income (loss):98148251 (497)(369)(97)
Other undisclosed comprehensive income, net of tax, attributable to parent 4     
Comprehensive income (loss), net of tax, attributable to parent:98152251 (497)(369)(97)

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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