$VZ
VERIZON COMMUNICATIONS INC

2020 Q1 Form 10-Q Financial Statement

#000073271220000027 Filed on April 27, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $31.61B $32.13B
YoY Change -1.61% 1.12%
Cost Of Revenue $12.30B $12.99B
YoY Change -5.34% 63.48%
Gross Profit $19.31B $19.14B
YoY Change 0.92% -19.68%
Gross Profit Margin 61.1% 59.57%
Selling, General & Admin $8.585B $7.198B
YoY Change 19.27% 5.17%
% of Gross Profit 44.45% 37.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.150B $4.231B
YoY Change -1.91% -2.15%
% of Gross Profit 21.49% 22.11%
Operating Expenses $8.585B $7.198B
YoY Change 19.27% 5.17%
Operating Profit $6.579B $7.709B
YoY Change -14.66% 4.9%
Interest Expense $1.034B $1.210B
YoY Change -14.55% 0.75%
% of Operating Profit 15.72% 15.7%
Other Income/Expense, Net $143.0M $295.0M
YoY Change -51.53% -493.33%
Pretax Income $5.676B $6.788B
YoY Change -16.38% 12.12%
Income Tax $1.389B $1.628B
% Of Pretax Income 24.47% 23.98%
Net Earnings $4.156B $5.032B
YoY Change -17.41% 10.72%
Net Earnings / Revenue 13.15% 15.66%
Basic Earnings Per Share $1.00 $1.22
Diluted Earnings Per Share $1.00 $1.22
COMMON SHARES
Basic Shares Outstanding 4.139B shares 4.138B shares
Diluted Shares Outstanding 4.141B shares 4.140B shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.047B $2.322B
YoY Change 203.49% 20.75%
Cash & Equivalents $7.047B $2.322B
Short-Term Investments
Other Short-Term Assets $7.384B $4.419B
YoY Change 67.1% -15.38%
Inventory $1.633B $1.417B
Prepaid Expenses
Receivables $23.80B $24.47B
Other Receivables $0.00 $0.00
Total Short-Term Assets $40.71B $33.40B
YoY Change 21.88% 7.65%
LONG-TERM ASSETS
Property, Plant & Equipment $92.18B $87.85B
YoY Change 4.93% -0.08%
Goodwill $24.38B $24.64B
YoY Change -1.03% -15.4%
Intangibles
YoY Change
Long-Term Investments $543.0M $674.0M
YoY Change -19.44% -32.19%
Other Assets $12.38B $9.669B
YoY Change 28.03% -11.83%
Total Long-Term Assets $253.8B $250.6B
YoY Change 1.3% 7.31%
TOTAL ASSETS
Total Short-Term Assets $40.71B $33.40B
Total Long-Term Assets $253.8B $250.6B
Total Assets $294.5B $283.9B
YoY Change 3.72% 7.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.42B $18.66B
YoY Change -6.67% 9.45%
Accrued Expenses $3.331B $2.997B
YoY Change 11.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.18B $8.614B
YoY Change 29.73% 36.23%
Total Short-Term Liabilities $41.06B $38.61B
YoY Change 6.35% 22.12%
LONG-TERM LIABILITIES
Long-Term Debt $106.6B $105.0B
YoY Change 1.44% -6.82%
Other Long-Term Liabilities $15.79B $12.11B
YoY Change 30.39% -1.88%
Total Long-Term Liabilities $191.8B $187.9B
YoY Change 2.08% 4.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.06B $38.61B
Total Long-Term Liabilities $191.8B $187.9B
Total Liabilities $232.8B $226.5B
YoY Change 2.81% 6.75%
SHAREHOLDERS EQUITY
Retained Earnings $54.56B $43.95B
YoY Change 24.13% 16.07%
Common Stock $429.0M $429.0M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.725B $6.825B
YoY Change -1.47% -2.39%
Treasury Stock Shares
Shareholders Equity $60.21B $55.86B
YoY Change
Total Liabilities & Shareholders Equity $294.5B $283.9B
YoY Change 3.72% 7.35%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $4.156B $5.032B
YoY Change -17.41% 10.72%
Depreciation, Depletion And Amortization $4.150B $4.231B
YoY Change -1.91% -2.15%
Cash From Operating Activities $8.824B $7.081B
YoY Change 24.62% 6.51%
INVESTING ACTIVITIES
Capital Expenditures -$5.484B -$4.372B
YoY Change 25.43% -20.83%
Acquisitions $0.00 $25.00M
YoY Change -100.0% -21.88%
Other Investing Activities $1.272B $406.0M
YoY Change 213.3% -250.93%
Cash From Investing Activities -$6.980B -$4.803B
YoY Change 45.33% -9.12%
FINANCING ACTIVITIES
Cash Dividend Paid $2.547B $2.489B
YoY Change 2.33% 3.41%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.563B -$2.657B
YoY Change -196.46% 101.9%
NET CHANGE
Cash From Operating Activities $8.824B $7.081B
Cash From Investing Activities -$6.980B -$4.803B
Cash From Financing Activities $2.563B -$2.657B
Net Change In Cash $4.407B -$379.0M
YoY Change -1262.8% -906.38%
FREE CASH FLOW
Cash From Operating Activities $8.824B $7.081B
Capital Expenditures -$5.484B -$4.372B
Free Cash Flow $14.31B $11.45B
YoY Change 24.93% -5.89%

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CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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998000000 USD
CY2020Q1 us-gaap Treasury Stock Value
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6725000000 USD
CY2019Q4 us-gaap Treasury Stock Value
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6820000000 USD
CY2020Q1 vz Deferred Compensation Employee Stock Ownership Plans And Other
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149000000 USD
CY2019Q4 vz Deferred Compensation Employee Stock Ownership Plans And Other
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222000000 USD
CY2020Q1 us-gaap Minority Interest
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1443000000 USD
CY2019Q4 us-gaap Minority Interest
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1440000000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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61653000000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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62835000000 USD
CY2020Q1 us-gaap Liabilities And Stockholders Equity
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294500000000 USD
CY2019Q4 us-gaap Liabilities And Stockholders Equity
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291727000000 USD
CY2020Q1 us-gaap Profit Loss
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4287000000 USD
CY2019Q1 us-gaap Profit Loss
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5160000000 USD
CY2020Q1 us-gaap Depreciation And Amortization
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4150000000 USD
CY2019Q1 us-gaap Depreciation And Amortization
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4231000000 USD
CY2020Q1 us-gaap Employee Benefits And Share Based Compensation
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CY2019Q1 us-gaap Employee Benefits And Share Based Compensation
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CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
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-87000000 USD
CY2019Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
459000000 USD
CY2020Q1 us-gaap Provision For Doubtful Accounts
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553000000 USD
CY2019Q1 us-gaap Provision For Doubtful Accounts
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319000000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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-26000000 USD
CY2019Q1 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-21000000 USD
CY2020Q1 us-gaap Increase Decrease In Operating Capital
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1208000000 USD
CY2019Q1 us-gaap Increase Decrease In Operating Capital
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2702000000 USD
CY2020Q1 us-gaap Pension And Other Postretirement Benefit Contributions
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0 USD
CY2019Q1 us-gaap Pension And Other Postretirement Benefit Contributions
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300000000 USD
CY2020Q1 us-gaap Other Operating Activities Cash Flow Statement
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1104000000 USD
CY2019Q1 us-gaap Other Operating Activities Cash Flow Statement
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88000000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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8824000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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7081000000 USD
CY2020Q1 us-gaap Payments To Acquire Other Productive Assets
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5274000000 USD
CY2019Q1 us-gaap Payments To Acquire Other Productive Assets
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4268000000 USD
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
25000000 USD
CY2020Q1 us-gaap Payments To Acquire Intangible Assets
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210000000 USD
CY2019Q1 us-gaap Payments To Acquire Intangible Assets
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104000000 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020Q1 vz Proceeds From Issuance Of Longterm Debt Excluding Assetbacked Debt
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5848000000 USD
CY2019Q1 vz Proceeds From Issuance Of Longterm Debt Excluding Assetbacked Debt
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2131000000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Secured Debt
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2844000000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Secured Debt
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1117000000 USD
CY2020Q1 vz Repayments Of Long Term Borrowings And Finance Lease Obligations
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1700000000 USD
CY2019Q1 vz Repayments Of Long Term Borrowings And Finance Lease Obligations
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2963000000 USD
CY2020Q1 us-gaap Repayments Of Secured Debt
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2229000000 USD
CY2019Q1 us-gaap Repayments Of Secured Debt
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813000000 USD
CY2020Q1 us-gaap Payments Of Dividends
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2547000000 USD
CY2019Q1 us-gaap Payments Of Dividends
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2489000000 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
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347000000 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
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360000000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
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2563000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
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-2657000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4407000000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-379000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3917000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3916000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8324000000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3537000000 USD
CY2019Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
4489000000 USD
CY2020Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
778000000 USD
CY2019Q1 us-gaap Capitalized Contract Cost Amortization
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615000000 USD
CY2020Q1 us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
0 USD
CY2020Q1 vz Number Of Licenses Acquired
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4940 License
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2020Q1 us-gaap Use Of Estimates
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<div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions take into account historical and forward looking factors that the Company believes are reasonable, including but not limited to the potential impacts arising from the recent novel coronavirus (COVID-19) and public and private sector policies and initiatives aimed at reducing its transmission. As the extent and duration of the impacts from COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from those estimates.</span></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Examples of significant estimates include the allowance for credit losses, the recoverability of property, plant and equipment, the incremental borrowing rate for the lease liability, the recoverability of intangible assets and other long-lived assets, fair value measurements, including those related to financial instruments, goodwill, spectrum licenses and intangible assets, unrecognized tax benefits, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations.</span></div>
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2000000 shares
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2004000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1715000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1368000000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7047000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2594000000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
4453000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8324000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3917000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4407000000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div style="line-height:120%;padding-bottom:6px;padding-top:0px;text-align:left;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#da291c;font-style:normal;font-weight:bold;text-decoration:none;">Allowance for Credit Losses</span></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Prior to January 1, 2020, accounts receivable were recorded at cost less an allowance for doubtful accounts. The gross amount of accounts receivable and corresponding allowance for doubtful accounts are presented separately in the condensed consolidated balance sheets. We maintained allowances for uncollectible accounts receivable, including our direct-channel device payment plan agreement receivables, for estimated losses resulting from the failure or inability of our customers to make required payments. Indirect-channel device payment receivables are considered financial instruments and were initially recorded at fair value net of imputed interest, and credit losses were recorded as incurred. However, receivable balances were assessed quarterly for impairment and an allowance was recorded if the receivable was considered impaired. </span></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Subsequent to January 1, 2020, accounts receivable are recorded at amortized cost less an allowance for expected credit losses that are not expected to be recovered. The gross amount of accounts receivable and corresponding allowance for credit losses are presented separately in the condensed consolidated balance sheets. We maintain allowances for credit losses resulting from the expected failure or inability of our customers to make required payments. We recognize the allowance for expected credit losses at inception and reassess quarterly based on management’s expectation of the asset’s collectability. The allowance is based on multiple factors including historical experience with bad debts, the credit quality of the customer base, the aging of such receivables and current macroeconomic conditions as well as management’s expectations of conditions in the future, if applicable. Our allowance for uncollectible accounts receivable is based on management’s assessment of the collectability of assets pooled together with similar risk characteristics.</span></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">We pool our device payment plan agreement receivables based on the credit quality indicators and shared risk characteristics of "new customers" and "existing customers". New customers are defined as customers who have been with Verizon for less than </span><span style="font-family:inherit;font-size:9pt;"><span>210 days</span></span><span style="font-family:inherit;font-size:9pt;"> if they are classified as a Consumer segment customer, or less than </span><span style="font-family:inherit;font-size:9pt;"><span>12 months</span></span><span style="font-family:inherit;font-size:9pt;"> if they are classified as a Business segment customer. Existing customers are defined as customers who have been with Verizon for more than </span><span style="font-family:inherit;font-size:9pt;"><span>210 days</span></span><span style="font-family:inherit;font-size:9pt;"> if they are in Consumer, or more than </span><span style="font-family:inherit;font-size:9pt;"><span>12 months</span></span><span style="font-family:inherit;font-size:9pt;"> if they are in Business. We record an allowance to reduce the receivables to the amount that is expected to be collectible. For device payment plan agreement receivables, we record bad debt expense based on a default and loss calculation using our proprietary loss model. The expected loss rate is determined based on customer credit scores and other qualitative factors as noted above. The loss rate is assigned individually on a customer by customer basis and the custom credit scores are then aggregated by vintage and used in our proprietary loss model to calculate the weighted average loss rate used for determining the allowance balance. </span></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">We monitor the collectability of our wireless service receivables as one overall pool. Wireline service receivables are disaggregated and pooled by the following customer groups: consumer, small and medium business, global enterprise and wholesale. For wireless service receivables and wireline consumer and small and medium business receivables, the allowance is calculated based on a 12 month rolling average write-off balance multiplied by the average life cycle of an account from billing to write-off. The risk of loss is assessed over the contractual life of the receivables and we adjust the historical loss amounts for current and future conditions based on management’s qualitative considerations. For global enterprise and wholesale wireline receivables, the allowance is based on historical write-off experience and individual customer credit risk, if applicable. We consider multiple factors in determining the allowance as discussed above.</span></div>
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
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CY2019Q4 us-gaap Other Assets Noncurrent
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10141000000 USD
CY2019Q4 us-gaap Deferred Income Tax Liabilities Net
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34703000000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
53147000000 USD
CY2020Q1 us-gaap Number Of Reportable Segments
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2 segment
CY2020Q1 vz Revenues From Leasing Arrangements Captive Reinsurance Arrangements And Interest On Equipment Financed
RevenuesFromLeasingArrangementsCaptiveReinsuranceArrangementsAndInterestOnEquipmentFinanced
812000000 USD
CY2019Q1 vz Revenues From Leasing Arrangements Captive Reinsurance Arrangements And Interest On Equipment Financed
RevenuesFromLeasingArrangementsCaptiveReinsuranceArrangementsAndInterestOnEquipmentFinanced
787000000 USD
CY2020Q1 us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
Contracts for wireless services are generally either month-to-month and cancellable at any time (typically under a device payment plan) or contain terms ranging from greater than one month to up to two years (typically under a fixed-term plan).
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
16100000000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
11300000000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
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2000000000.0 USD
CY2020Q1 us-gaap Indefinite Lived License Agreements
IndefiniteLivedLicenseAgreements
92471000000 USD
CY2019Q4 us-gaap Indefinite Lived License Agreements
IndefiniteLivedLicenseAgreements
95059000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1017000000 USD
CY2020Q1 vz Accounts Receivable From Contract With Customer
AccountsReceivableFromContractWithCustomer
11273000000 USD
CY2020Q1 vz Accounts Receivable From Contract With Customer
AccountsReceivableFromContractWithCustomer
12078000000 USD
CY2019Q1 vz Accounts Receivable From Contract With Customer
AccountsReceivableFromContractWithCustomer
11601000000 USD
CY2019Q1 vz Accounts Receivable From Contract With Customer
AccountsReceivableFromContractWithCustomer
12104000000 USD
CY2020Q1 vz Financing Receivable From Contract With Customer
FinancingReceivableFromContractWithCustomer
10955000000 USD
CY2020Q1 vz Financing Receivable From Contract With Customer
FinancingReceivableFromContractWithCustomer
11741000000 USD
CY2019Q1 vz Financing Receivable From Contract With Customer
FinancingReceivableFromContractWithCustomer
9687000000 USD
CY2019Q1 vz Financing Receivable From Contract With Customer
FinancingReceivableFromContractWithCustomer
8940000000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1135000000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1150000000 USD
CY2019Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1021000000 USD
CY2019Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1003000000 USD
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5347000000 USD
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5307000000 USD
CY2019Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4973000000 USD
CY2019Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4943000000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3800000000 USD
CY2019Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3700000000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1135000000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1150000000 USD
CY2020Q1 us-gaap Contract With Customer Liability
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5347000000 USD
CY2019Q4 us-gaap Contract With Customer Liability
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5307000000 USD
CY2020Q1 us-gaap Capitalized Contract Cost Net
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4358000000 USD
CY2019Q4 us-gaap Goodwill
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24389000000 USD
CY2020Q1 us-gaap Goodwill Other Increase Decrease
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CY2020Q1 us-gaap Goodwill
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24382000000 USD
CY2020Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
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4800000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
26834000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
17463000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9371000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
26393000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16895000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9498000000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
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592000000 USD
CY2019Q1 us-gaap Amortization Of Intangible Assets
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555000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1714000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
660000000 USD
CY2020Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5885000000 USD
CY2020Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
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5846000000 USD
CY2020Q1 us-gaap Commercial Paper
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0 USD
CY2020Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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15000000000 USD
CY2020Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
9391000000 USD
CY2020Q1 us-gaap Line Of Credit
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4382000000 USD
CY2020Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
24852000000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1055000000 USD
CY2020Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
23797000000 USD
CY2020Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
18320000000 USD
CY2019Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
19493000000 USD
CY2020Q1 us-gaap Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
425000000 USD
CY2019Q4 us-gaap Receivable With Imputed Interest Discount
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454000000 USD
CY2020Q1 us-gaap Receivable With Imputed Interest Net Amount
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17895000000 USD
CY2019Q4 us-gaap Receivable With Imputed Interest Net Amount
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19039000000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
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830000000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
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472000000 USD
CY2020Q1 us-gaap Notes Receivable Net
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17065000000 USD
CY2019Q4 us-gaap Notes Receivable Net
NotesReceivableNet
18567000000 USD
CY2020Q1 us-gaap Notes Receivable Net
NotesReceivableNet
17065000000 USD
CY2019Q4 us-gaap Notes Receivable Net
NotesReceivableNet
18567000000 USD
CY2020Q1 us-gaap Pledged Assets Not Separately Reported Finance Receivables
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14100000000 USD
CY2019Q4 us-gaap Pledged Assets Not Separately Reported Finance Receivables
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14300000000 USD
CY2020Q1 us-gaap Assets Fair Value Disclosure
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2349000000 USD
CY2020Q1 us-gaap Liabilities Fair Value Disclosure
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5146000000 USD
CY2019Q4 us-gaap Assets Fair Value Disclosure
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1226000000 USD
CY2019Q4 us-gaap Liabilities Fair Value Disclosure
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1689000000 USD
CY2020Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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266000000 USD
CY2019Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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284000000 USD
CY2020Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
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0 USD
CY2019Q1 vz Gain Loss On Disposition Of Intangible Assets Pretax
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0 USD
CY2020Q1 us-gaap Operating Income Loss
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6579000000 USD
CY2020Q1 us-gaap Derivative Asset Fair Value Of Collateral
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100000000 USD
CY2020Q1 us-gaap Derivative Liability Fair Value Of Collateral
DerivativeLiabilityFairValueOfCollateral
1300000000 USD
CY2020Q1 us-gaap Payments For Postemployment Benefits
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123000000 USD
CY2020Q1 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
471000000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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61653000000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
57460000000 USD
CY2020Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
100000000 shares
CY2020Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
100000000 shares
CY2020Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
100000000 shares
CY2020Q1 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
2200000 shares
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7709000000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-12000000 USD
CY2019Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6000000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
143000000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
295000000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
1034000000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-2935000000 USD
CY2020Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-435000000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2500000000 USD
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2020Q1 us-gaap Revenues
Revenues
31610000000 USD
CY2019Q1 us-gaap Revenues
Revenues
32128000000 USD
CY2020Q1 vz Other Components Of Net Periodic Benefit Cost Income
OtherComponentsOfNetPeriodicBenefitCostIncome
203000000 USD
CY2019Q1 vz Other Components Of Net Periodic Benefit Cost Income
OtherComponentsOfNetPeriodicBenefitCostIncome
203000000 USD
CY2020Q1 vz Gain Loss On Disposition Of Intangible Assets Pretax
GainLossOnDispositionOfIntangibleAssetsPretax
-1195000000 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
1210000000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5676000000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6788000000 USD
CY2020Q1 vz Approximate Number Of Federal District Court Actions Alleged For Patent Infringement
ApproximateNumberOfFederalDistrictCourtActionsAllegedForPatentInfringement
25 legal_matter
CY2020Q1 vz Guarantee Obligation Term
GuaranteeObligationTerm
P30Y
CY2020Q1 vz Guarantee Obligation Number Of Agreements
GuaranteeObligationNumberOfAgreements
2 Agreement

Files In Submission

Name View Source Status
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0000732712-20-000027-index.html Edgar Link completed
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