$VZ
VERIZON COMMUNICATIONS INC

2012 Q2 Form 10-Q Financial Statement

#000119312512322636 Filed on July 30, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $28.55B $27.54B
YoY Change 3.69% 2.85%
Cost Of Revenue $10.90B $11.16B
YoY Change -2.35% -8.66%
Gross Profit $17.66B $16.38B
YoY Change 7.8% 12.51%
Gross Profit Margin 61.84% 59.48%
Selling, General & Admin $7.877B $7.373B
YoY Change 6.84% -26.05%
% of Gross Profit 44.61% 45.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.128B $4.113B
YoY Change 0.36% -1.53%
% of Gross Profit 23.38% 25.11%
Operating Expenses $7.877B $7.373B
YoY Change 6.84% -47.88%
Operating Profit $5.651B $4.892B
YoY Change 15.52% 1093.17%
Interest Expense $679.0M $717.0M
YoY Change -5.3% -234.02%
% of Operating Profit 12.02% 14.66%
Other Income/Expense, Net $34.00M $10.00M
YoY Change 240.0% -242.86%
Pretax Income $5.078B $4.306B
YoY Change 17.93% -3362.12%
Income Tax $793.0M $702.0M
% Of Pretax Income 15.62% 16.3%
Net Earnings $1.825B $1.609B
YoY Change 13.42% -234.98%
Net Earnings / Revenue 6.39% 5.84%
Basic Earnings Per Share $0.64 $0.57
Diluted Earnings Per Share $0.64 $0.57
COMMON SHARES
Basic Shares Outstanding 2.849B shares 2.832B shares
Diluted Shares Outstanding 2.858B shares 2.838B shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.78B $6.828B
YoY Change 57.85% 30.68%
Cash & Equivalents $10.00B $6.240B
Short-Term Investments $777.0M $588.0M
Other Short-Term Assets $3.901B $2.891B
YoY Change 34.94% 3.51%
Inventory $856.0M $1.270B
Prepaid Expenses
Receivables $11.60B $11.48B
Other Receivables $0.00 $0.00
Total Short-Term Assets $27.13B $22.47B
YoY Change 20.73% 6.7%
LONG-TERM ASSETS
Property, Plant & Equipment $87.90B $89.40B
YoY Change -1.68% -2.94%
Goodwill $23.48B
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.539B $3.908B
YoY Change -9.44% 2.92%
Other Assets $5.001B $5.403B
YoY Change -7.44% -33.02%
Total Long-Term Assets $198.9B $201.3B
YoY Change -1.16% -1.9%
TOTAL ASSETS
Total Short-Term Assets $27.13B $22.47B
Total Long-Term Assets $198.9B $201.3B
Total Assets $226.1B $223.8B
YoY Change 1.04% -1.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.97B $14.24B
YoY Change -1.86% -15.78%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.912B $6.055B
YoY Change -2.36% -23.1%
Total Short-Term Liabilities $26.35B $27.37B
YoY Change -3.73% -14.01%
LONG-TERM LIABILITIES
Long-Term Debt $46.48B $47.93B
YoY Change -3.02% -3.36%
Other Long-Term Liabilities $5.254B $33.14B
YoY Change -84.15% -15.08%
Total Long-Term Liabilities $5.254B $81.07B
YoY Change -93.52% -8.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.35B $27.37B
Total Long-Term Liabilities $5.254B $81.07B
Total Liabilities $31.61B $184.4B
YoY Change -82.86% -1.38%
SHAREHOLDERS EQUITY
Retained Earnings $1.845B
YoY Change
Common Stock $297.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.438B
YoY Change
Treasury Stock Shares
Shareholders Equity $37.15B $39.35B
YoY Change
Total Liabilities & Shareholders Equity $226.1B $223.8B
YoY Change 1.04% -1.1%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $1.825B $1.609B
YoY Change 13.42% -234.98%
Depreciation, Depletion And Amortization $4.128B $4.113B
YoY Change 0.36% -1.53%
Cash From Operating Activities $9.314B $7.757B
YoY Change 20.07% -20.22%
INVESTING ACTIVITIES
Capital Expenditures -$3.898B -$4.555B
YoY Change -14.42% 8.56%
Acquisitions
YoY Change
Other Investing Activities -$13.00M -$942.0M
YoY Change -98.62% -141.39%
Cash From Investing Activities -$3.911B -$5.497B
YoY Change -28.85% 186.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.311B -10.03B
YoY Change -86.93% 64.94%
NET CHANGE
Cash From Operating Activities 9.314B 7.757B
Cash From Investing Activities -3.911B -5.497B
Cash From Financing Activities -1.311B -10.03B
Net Change In Cash 4.092B -7.767B
YoY Change -152.68% -550.52%
FREE CASH FLOW
Cash From Operating Activities $9.314B $7.757B
Capital Expenditures -$3.898B -$4.555B
Free Cash Flow $13.21B $12.31B
YoY Change 7.31% -11.55%

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