$VZ
VERIZON COMMUNICATIONS INC

2015 Q1 Form 10-Q Financial Statement

#000119312515151315 Filed on April 28, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $31.98B $30.82B
YoY Change 3.78% 4.75%
Cost Of Revenue $12.10B $11.19B
YoY Change 8.11% 2.35%
Gross Profit $19.89B $19.63B
YoY Change 1.32% 6.17%
Gross Profit Margin 62.18% 63.69%
Selling, General & Admin $7.939B $8.332B
YoY Change -4.72% 2.26%
% of Gross Profit 39.92% 42.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.989B $4.137B
YoY Change -3.58% 0.46%
% of Gross Profit 20.06% 21.08%
Operating Expenses $7.939B $8.332B
YoY Change -4.72% 2.26%
Operating Profit $7.960B $7.160B
YoY Change 11.17% 15.08%
Interest Expense $1.332B $1.214B
YoY Change 9.72% 126.07%
% of Operating Profit 16.73% 16.96%
Other Income/Expense, Net $75.00M -$894.0M
YoY Change -108.39% -2392.31%
Pretax Income $6.669B $6.954B
YoY Change -4.1% 21.59%
Income Tax $2.331B $968.0M
% Of Pretax Income 34.95% 13.92%
Net Earnings $4.219B $3.947B
YoY Change 6.89% 102.2%
Net Earnings / Revenue 13.19% 12.81%
Basic Earnings Per Share $1.03 $1.15
Diluted Earnings Per Share $1.02 $1.15
COMMON SHARES
Basic Shares Outstanding 4.116B shares 3.425B shares
Diluted Shares Outstanding 4.121B shares 3.430B shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.933B $3.544B
YoY Change 39.19% -42.23%
Cash & Equivalents $4.386B $2.907B
Short-Term Investments $547.0M $637.0M
Other Short-Term Assets $4.129B $6.716B
YoY Change -38.52% 3.15%
Inventory $1.076B $881.0M
Prepaid Expenses
Receivables $12.70B $12.13B
Other Receivables $0.00 $0.00
Total Short-Term Assets $22.84B $23.27B
YoY Change -1.87% -7.86%
LONG-TERM ASSETS
Property, Plant & Equipment $81.64B $89.06B
YoY Change -8.33% 0.99%
Goodwill $23.30B $24.65B
YoY Change -5.45% 2.13%
Intangibles
YoY Change
Long-Term Investments $762.0M $889.0M
YoY Change -14.29% -73.23%
Other Assets $5.765B $5.146B
YoY Change 12.03% 34.64%
Total Long-Term Assets $213.0B $198.3B
YoY Change 7.4% -1.31%
TOTAL ASSETS
Total Short-Term Assets $22.84B $23.27B
Total Long-Term Assets $213.0B $198.3B
Total Assets $235.8B $221.6B
YoY Change 6.42% -2.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.19B $14.98B
YoY Change 1.37% 6.8%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.439B $2.152B
YoY Change 106.27% -80.24%
Total Short-Term Liabilities $28.71B $25.35B
YoY Change 13.25% -19.49%
LONG-TERM LIABILITIES
Long-Term Debt $108.9B $107.6B
YoY Change 1.24% 156.27%
Other Long-Term Liabilities $11.09B $6.167B
YoY Change 79.76% 1.51%
Total Long-Term Liabilities $11.09B $6.167B
YoY Change 79.76% 1.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.71B $25.35B
Total Long-Term Liabilities $11.09B $6.167B
Total Liabilities $39.80B $31.52B
YoY Change 26.27% -16.09%
SHAREHOLDERS EQUITY
Retained Earnings $4.422B $3.534B
YoY Change 25.13% -208.57%
Common Stock $424.0M $424.0M
YoY Change 0.0% 42.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.093B $3.794B
YoY Change 86.95% -5.01%
Treasury Stock Shares
Shareholders Equity $9.339B $12.71B
YoY Change
Total Liabilities & Shareholders Equity $235.8B $221.6B
YoY Change 6.42% -2.04%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $4.219B $3.947B
YoY Change 6.89% 102.2%
Depreciation, Depletion And Amortization $3.989B $4.137B
YoY Change -3.58% 0.46%
Cash From Operating Activities $10.17B $7.139B
YoY Change 42.44% -5.21%
INVESTING ACTIVITIES
Capital Expenditures -$13.22B -$4.363B
YoY Change 203.0% 17.32%
Acquisitions $2.000M
YoY Change
Other Investing Activities -$46.00M $11.00M
YoY Change -518.18% -107.8%
Cash From Investing Activities -$13.18B -$4.531B
YoY Change 190.8% 25.9%
FINANCING ACTIVITIES
Cash Dividend Paid $2.153B $1.517B
YoY Change 41.92% 3.06%
Common Stock Issuance & Retirement, Net $5.000B $34.00M
YoY Change 14605.88% -64.95%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.205B -53.23B
YoY Change -93.98% 3334.13%
NET CHANGE
Cash From Operating Activities 10.17B 7.139B
Cash From Investing Activities -13.18B -4.531B
Cash From Financing Activities -3.205B -53.23B
Net Change In Cash -6.212B -50.62B
YoY Change -87.73% -2225.15%
FREE CASH FLOW
Cash From Operating Activities $10.17B $7.139B
Capital Expenditures -$13.22B -$4.363B
Free Cash Flow $23.39B $11.50B
YoY Change 103.35% 2.24%

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VERIZON COMMUNICATIONS INC
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