$VZ
VERIZON COMMUNICATIONS INC

2014 Q1 Form 10-Q Financial Statement

#000119312514166563 Filed on April 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $30.82B $29.42B
YoY Change 4.75% 4.17%
Cost Of Revenue $11.19B $10.93B
YoY Change 2.35% -3.42%
Gross Profit $19.63B $18.49B
YoY Change 6.17% 9.25%
Gross Profit Margin 63.69% 62.84%
Selling, General & Admin $8.332B $8.148B
YoY Change 2.26% 5.82%
% of Gross Profit 42.45% 44.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.137B $4.118B
YoY Change 0.46% 2.23%
% of Gross Profit 21.08% 22.27%
Operating Expenses $8.332B $8.148B
YoY Change 2.26% 5.82%
Operating Profit $7.160B $6.222B
YoY Change 15.08% 19.77%
Interest Expense $1.214B $537.0M
YoY Change 126.07% -21.61%
% of Operating Profit 16.96% 8.63%
Other Income/Expense, Net -$894.0M $39.00M
YoY Change -2392.31% 105.26%
Pretax Income $6.954B $5.719B
YoY Change 21.59% 23.47%
Income Tax $968.0M $864.0M
% Of Pretax Income 13.92% 15.11%
Net Earnings $3.947B $1.952B
YoY Change 102.2% 15.78%
Net Earnings / Revenue 12.81% 6.63%
Basic Earnings Per Share $1.15 $0.68
Diluted Earnings Per Share $1.15 $0.68
COMMON SHARES
Basic Shares Outstanding 3.425B shares 2.866B shares
Diluted Shares Outstanding 3.430B shares 2.872B shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.544B $6.135B
YoY Change -42.23% -6.08%
Cash & Equivalents $2.907B $5.475B
Short-Term Investments $637.0M $660.0M
Other Short-Term Assets $6.716B $6.511B
YoY Change 3.15% 39.03%
Inventory $881.0M $798.0M
Prepaid Expenses
Receivables $12.13B $11.81B
Other Receivables $0.00 $0.00
Total Short-Term Assets $23.27B $25.26B
YoY Change -7.86% 7.43%
LONG-TERM ASSETS
Property, Plant & Equipment $89.06B $88.18B
YoY Change 0.99% -0.01%
Goodwill $24.65B $24.13B
YoY Change 2.13%
Intangibles
YoY Change
Long-Term Investments $889.0M $3.321B
YoY Change -73.23% -6.87%
Other Assets $5.146B $3.822B
YoY Change 34.64% -25.84%
Total Long-Term Assets $198.3B $200.9B
YoY Change -1.31% 0.76%
TOTAL ASSETS
Total Short-Term Assets $23.27B $25.26B
Total Long-Term Assets $198.3B $200.9B
Total Assets $221.6B $226.2B
YoY Change -2.04% 1.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.98B $14.03B
YoY Change 6.8% 6.04%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.152B $10.89B
YoY Change -80.24% 248.86%
Total Short-Term Liabilities $25.35B $31.49B
YoY Change -19.49% 37.43%
LONG-TERM LIABILITIES
Long-Term Debt $107.6B $41.99B
YoY Change 156.27% -13.37%
Other Long-Term Liabilities $6.167B $6.075B
YoY Change 1.51% -83.8%
Total Long-Term Liabilities $6.167B $6.075B
YoY Change 1.51% -92.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.35B $31.49B
Total Long-Term Liabilities $6.167B $6.075B
Total Liabilities $31.52B $37.56B
YoY Change -16.09% -79.83%
SHAREHOLDERS EQUITY
Retained Earnings $3.534B -$3.255B
YoY Change -208.57%
Common Stock $424.0M $297.0M
YoY Change 42.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.794B $3.994B
YoY Change -5.01%
Treasury Stock Shares
Shareholders Equity $12.71B $33.31B
YoY Change
Total Liabilities & Shareholders Equity $221.6B $226.2B
YoY Change -2.04% 1.46%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $3.947B $1.952B
YoY Change 102.2% 15.78%
Depreciation, Depletion And Amortization $4.137B $4.118B
YoY Change 0.46% 2.23%
Cash From Operating Activities $7.139B $7.531B
YoY Change -5.21% 26.42%
INVESTING ACTIVITIES
Capital Expenditures -$4.363B -$3.719B
YoY Change 17.32% 4.32%
Acquisitions
YoY Change
Other Investing Activities $11.00M -$141.0M
YoY Change -107.8% 243.9%
Cash From Investing Activities -$4.531B -$3.599B
YoY Change 25.9% -2.01%
FINANCING ACTIVITIES
Cash Dividend Paid $1.517B $1.472B
YoY Change 3.06% 14.02%
Common Stock Issuance & Retirement, Net $34.00M $97.00M
YoY Change -64.95% 40.58%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -53.23B -1.550B
YoY Change 3334.13% -84.08%
NET CHANGE
Cash From Operating Activities 7.139B 7.531B
Cash From Investing Activities -4.531B -3.599B
Cash From Financing Activities -53.23B -1.550B
Net Change In Cash -50.62B 2.382B
YoY Change -2225.15% -131.96%
FREE CASH FLOW
Cash From Operating Activities $7.139B $7.531B
Capital Expenditures -$4.363B -$3.719B
Free Cash Flow $11.50B $11.25B
YoY Change 2.24% 18.15%

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