$VZ
VERIZON COMMUNICATIONS INC

2009 Form 10-K Financial Statement

#000119312510041685 Filed on February 26, 2010

View on sec.gov

Income Statement

Concept 2009 2008 2007
Revenue $107.8B $97.35B $93.47B
YoY Change 10.74% 4.16% 6.0%
Cost Of Revenue $42.90B $38.51B $37.55B
YoY Change 11.41% 2.56% 6.34%
Gross Profit $64.91B $58.84B $55.92B
YoY Change 10.3% 5.23% 5.77%
Gross Profit Margin 60.2% 60.44% 59.83%
Selling, General & Admin $29.86B $25.74B $25.97B
YoY Change 16.0% -0.86% 4.06%
% of Gross Profit 46.01% 43.75% 46.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.53B $14.61B $14.38B
YoY Change 13.17% 1.62% -1.16%
% of Gross Profit 25.47% 24.83% 25.71%
Operating Expenses $46.08B $40.35B $40.34B
YoY Change 14.19% 0.02% 2.14%
Operating Profit $18.83B $18.49B $15.58B
YoY Change 1.81% 18.7% 16.49%
Interest Expense -$2.474B -$936.0M -$1.062B
YoY Change 164.32% -11.86% -80.39%
% of Operating Profit -13.14% -5.06% -6.82%
Other Income/Expense, Net $16.00M -$33.00M $29.00M
YoY Change -148.48% -213.79% -85.28%
Pretax Income $13.52B $1.643B $14.55B
YoY Change 722.88% -88.7% 78.38%
Income Tax $1.919B -$2.319B $3.982B
% Of Pretax Income 14.19% -141.14% 27.38%
Net Earnings $4.894B -$2.193B $5.521B
YoY Change -323.16% -139.72% -10.91%
Net Earnings / Revenue 4.54% -2.25% 5.91%
Basic Earnings Per Share $1.29 $2.26 $1.91
Diluted Earnings Per Share $1.29 $2.26 $1.90
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2009 2008 2007
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.499B $10.29B $3.397B
YoY Change -75.72% 202.94% -39.91%
Cash & Equivalents $2.009B $9.782B $1.153B
Short-Term Investments $490.0M $509.0M $2.244B
Other Short-Term Assets $5.247B $1.989B $1.836B
YoY Change 163.8% 8.33% -59.02%
Inventory $1.426B $2.092B $1.729B
Prepaid Expenses
Receivables $12.57B $11.70B $11.74B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $21.75B $26.08B $18.70B
YoY Change -16.61% 39.45% -17.04%
LONG-TERM ASSETS
Property, Plant & Equipment $91.99B $86.55B $85.29B
YoY Change 6.28% 1.47% 3.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.118B $8.174B $3.372B
YoY Change -61.85% 142.41% -30.73%
Other Assets $8.756B $8.349B $18.57B
YoY Change 4.87% -55.03% 7.39%
Total Long-Term Assets $205.2B $176.3B $168.3B
YoY Change 16.39% 4.76% 1.2%
TOTAL ASSETS
Total Short-Term Assets $21.75B $26.08B $18.70B
Total Long-Term Assets $205.2B $176.3B $168.3B
Total Assets $226.9B $202.4B $187.0B
YoY Change 12.13% 8.23% -0.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.337B $3.856B $4.491B
YoY Change 12.47% -14.14% 2.25%
Accrued Expenses $9.442B $7.822B $7.701B
YoY Change 20.71% 1.57% 7.39%
Deferred Revenue
YoY Change
Short-Term Debt $1.100B $1.487B $390.0M
YoY Change -26.03% 281.28% -89.09%
Long-Term Debt Due $6.105B $3.506B $2.564B
YoY Change 74.13% 36.74% -38.05%
Total Short-Term Liabilities $29.14B $25.91B $24.74B
YoY Change 12.47% 4.71% -23.36%
LONG-TERM LIABILITIES
Long-Term Debt $55.05B $46.96B $28.20B
YoY Change 17.23% 66.5% -1.55%
Other Long-Term Liabilities $39.39B $38.81B $36.36B
YoY Change 1.48% 6.74% 4.68%
Total Long-Term Liabilities $94.44B $85.77B $64.57B
YoY Change 10.1% 32.85% 1.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.14B $25.91B $24.74B
Total Long-Term Liabilities $94.44B $85.77B $64.57B
Total Liabilities $185.5B $160.6B $136.4B
YoY Change 15.49% 17.79% -2.77%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $41.38B $41.71B $50.58B
YoY Change
Total Liabilities & Shareholders Equity $226.9B $202.4B $187.0B
YoY Change 12.13% 8.23% -0.98%

Cashflow Statement

Concept 2009 2008 2007
OPERATING ACTIVITIES
Net Income $4.894B -$2.193B $5.521B
YoY Change -323.16% -139.72% -10.91%
Depreciation, Depletion And Amortization $16.53B $14.61B $14.38B
YoY Change 13.17% 1.62% -1.16%
Cash From Operating Activities $31.39B $27.45B $26.84B
YoY Change 14.35% 2.28% 11.34%
INVESTING ACTIVITIES
Capital Expenditures -$16.87B -$17.13B -$17.54B
YoY Change -1.52% -2.31% 2.56%
Acquisitions
YoY Change
Other Investing Activities -$6.284B -$14.34B $1.430B
YoY Change -56.18% -1102.87% -3.7%
Cash From Investing Activities -$23.16B -$31.47B -$16.11B
YoY Change -26.43% 95.39% 3.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.01B 12.65B -12.80B
YoY Change -226.53% -198.86% 112.19%
NET CHANGE
Cash From Operating Activities 31.39B 27.45B 26.84B
Cash From Investing Activities -23.16B -31.47B -16.11B
Cash From Financing Activities -16.01B 12.65B -12.80B
Net Change In Cash -7.773B 8.629B -2.066B
YoY Change -190.08% -517.67% -184.02%
FREE CASH FLOW
Cash From Operating Activities $31.39B $27.45B $26.84B
Capital Expenditures -$16.87B -$17.13B -$17.54B
Free Cash Flow $48.26B $44.59B $44.38B
YoY Change 8.25% 0.47% 7.69%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2007 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.91
CY2007 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.90
CY2009 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.29
CY2009 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.29
CY2008 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.26
CY2008 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.26

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