$VZ
VERIZON COMMUNICATIONS INC

2013 Q1 Form 10-Q Financial Statement

#000119312513172825 Filed on April 25, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $29.42B $28.24B
YoY Change 4.17% 4.64%
Cost Of Revenue $10.93B $11.32B
YoY Change -3.42% 0.8%
Gross Profit $18.49B $16.92B
YoY Change 9.25% 7.37%
Gross Profit Margin 62.84% 59.92%
Selling, General & Admin $8.148B $7.700B
YoY Change 5.82% 5.71%
% of Gross Profit 44.07% 45.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.118B $4.028B
YoY Change 2.23% 0.1%
% of Gross Profit 22.27% 23.8%
Operating Expenses $8.148B $7.700B
YoY Change 5.82% -31.91%
Operating Profit $6.222B $5.195B
YoY Change 19.77% 16.66%
Interest Expense $537.0M $685.0M
YoY Change -21.61% -213.98%
% of Operating Profit 8.63% 13.19%
Other Income/Expense, Net $39.00M $19.00M
YoY Change 105.26% -34.48%
Pretax Income $5.719B $4.632B
YoY Change 23.47% 19.35%
Income Tax $864.0M $726.0M
% Of Pretax Income 15.11% 15.67%
Net Earnings $1.952B $1.686B
YoY Change 15.78% 17.16%
Net Earnings / Revenue 6.63% 5.97%
Basic Earnings Per Share $0.68 $0.59
Diluted Earnings Per Share $0.68 $0.59
COMMON SHARES
Basic Shares Outstanding 2.866B shares 2.842B shares
Diluted Shares Outstanding 2.872B shares 2.849B shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.135B $6.532B
YoY Change -6.08% -55.66%
Cash & Equivalents $5.475B $5.909B
Short-Term Investments $660.0M $623.0M
Other Short-Term Assets $6.511B $4.683B
YoY Change 39.03% 60.38%
Inventory $798.0M $1.063B
Prepaid Expenses
Receivables $11.81B $11.23B
Other Receivables $0.00 $0.00
Total Short-Term Assets $25.26B $23.51B
YoY Change 7.43% -21.42%
LONG-TERM ASSETS
Property, Plant & Equipment $88.18B $88.19B
YoY Change -0.01% -0.07%
Goodwill $24.13B
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.321B $3.566B
YoY Change -6.87% -4.45%
Other Assets $3.822B $5.154B
YoY Change -25.84% -6.48%
Total Long-Term Assets $200.9B $199.4B
YoY Change 0.76% 0.62%
TOTAL ASSETS
Total Short-Term Assets $25.26B $23.51B
Total Long-Term Assets $200.9B $199.4B
Total Assets $226.2B $222.9B
YoY Change 1.46% -2.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.03B $13.23B
YoY Change 6.04% -4.19%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.89B $3.121B
YoY Change 248.86% -73.6%
Total Short-Term Liabilities $31.49B $22.91B
YoY Change 37.43% -30.03%
LONG-TERM LIABILITIES
Long-Term Debt $41.99B $48.48B
YoY Change -13.37% -1.82%
Other Long-Term Liabilities $6.075B $37.50B
YoY Change -83.8% 11.79%
Total Long-Term Liabilities $6.075B $85.98B
YoY Change -92.93% 3.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.49B $22.91B
Total Long-Term Liabilities $6.075B $85.98B
Total Liabilities $37.56B $186.3B
YoY Change -79.83% -1.52%
SHAREHOLDERS EQUITY
Retained Earnings -$3.255B
YoY Change
Common Stock $297.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.994B
YoY Change
Treasury Stock Shares
Shareholders Equity $33.31B $36.67B
YoY Change
Total Liabilities & Shareholders Equity $226.2B $222.9B
YoY Change 1.46% -2.27%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $1.952B $1.686B
YoY Change 15.78% 17.16%
Depreciation, Depletion And Amortization $4.118B $4.028B
YoY Change 2.23% 0.1%
Cash From Operating Activities $7.531B $5.957B
YoY Change 26.42% 18.31%
INVESTING ACTIVITIES
Capital Expenditures -$3.719B -$3.565B
YoY Change 4.32% -18.29%
Acquisitions
YoY Change
Other Investing Activities -$141.0M -$41.00M
YoY Change 243.9% 241.67%
Cash From Investing Activities -$3.599B -$3.673B
YoY Change -2.01% -16.05%
FINANCING ACTIVITIES
Cash Dividend Paid $1.472B $1.291B
YoY Change 14.02%
Common Stock Issuance & Retirement, Net $97.00M $69.00M
YoY Change 40.58%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.550B -9.737B
YoY Change -84.08% -245.79%
NET CHANGE
Cash From Operating Activities 7.531B 5.957B
Cash From Investing Activities -3.599B -3.673B
Cash From Financing Activities -1.550B -9.737B
Net Change In Cash 2.382B -7.453B
YoY Change -131.96% -201.55%
FREE CASH FLOW
Cash From Operating Activities $7.531B $5.957B
Capital Expenditures -$3.719B -$3.565B
Free Cash Flow $11.25B $9.522B
YoY Change 18.15% 1.32%

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CY2012Q1 us-gaap Employee Benefits And Share Based Compensation
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CY2012Q1 us-gaap Revenues
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CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2012Q1 us-gaap Increase Decrease In Operating Capital
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CY2012Q1 us-gaap Payments To Acquire Intangible Assets
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CY2012Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2012Q1 us-gaap Net Income Loss
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CY2012Q1 us-gaap Selling General And Administrative Expense
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CY2012Q1 us-gaap Income Tax Expense Benefit
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CY2012Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2012Q1 us-gaap Payments Of Dividends
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CY2012Q1 us-gaap Interest Expense
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CY2012Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2012Q1 vz Number Of Customers Individually Accounting For More Than Ten Percent Of Total Operating Revenues
NumberOfCustomersIndividuallyAccountingForMoreThanTenPercentOfTotalOperatingRevenues
0 Customer

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