$VZ
VERIZON COMMUNICATIONS INC

2015 Q2 Form 10-Q Financial Statement

#000119312515265779 Filed on July 28, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $32.22B $31.48B
YoY Change 2.35% 5.7%
Cost Of Revenue $6.994B $12.09B
YoY Change -42.14% 9.55%
Gross Profit $25.23B $19.40B
YoY Change 30.08% 3.43%
Gross Profit Margin 78.3% 61.61%
Selling, General & Admin $7.974B $7.550B
YoY Change 5.62% -6.18%
% of Gross Profit 31.61% 38.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.980B $4.161B
YoY Change -4.35% 0.24%
% of Gross Profit 15.77% 21.45%
Operating Expenses $7.974B $7.550B
YoY Change 5.62% -6.18%
Operating Profit $7.821B $7.685B
YoY Change 1.77% 17.24%
Interest Expense $1.208B $1.164B
YoY Change 3.78% 126.46%
% of Operating Profit 15.45% 15.15%
Other Income/Expense, Net $32.00M $66.00M
YoY Change -51.52% 164.0%
Pretax Income $6.627B $6.544B
YoY Change 1.27% 5.79%
Income Tax $2.274B $2.220B
% Of Pretax Income 34.31% 33.92%
Net Earnings $4.231B $4.214B
YoY Change 0.4% 87.62%
Net Earnings / Revenue 13.13% 13.39%
Basic Earnings Per Share $1.04 $1.02
Diluted Earnings Per Share $1.04 $1.01
COMMON SHARES
Basic Shares Outstanding 4.079B shares 4.147B shares
Diluted Shares Outstanding 4.085B shares 4.153B shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.317B $6.424B
YoY Change -48.37% 167.0%
Cash & Equivalents $3.008B $5.776B
Short-Term Investments $309.0M $648.0M
Other Short-Term Assets $3.592B $2.424B
YoY Change 48.18% -61.49%
Inventory $1.149B $1.073B
Prepaid Expenses
Receivables $13.44B $12.97B
Other Receivables $0.00 $0.00
Total Short-Term Assets $21.50B $22.89B
YoY Change -6.05% 4.24%
LONG-TERM ASSETS
Property, Plant & Equipment $82.53B $89.71B
YoY Change -8.0% 1.56%
Goodwill $25.43B $24.66B
YoY Change 3.11% 1.34%
Intangibles
YoY Change
Long-Term Investments $794.0M $852.0M
YoY Change -6.81% -74.33%
Other Assets $6.545B $5.262B
YoY Change 24.38% 38.44%
Total Long-Term Assets $219.3B $201.5B
YoY Change 8.79% 0.07%
TOTAL ASSETS
Total Short-Term Assets $21.50B $22.89B
Total Long-Term Assets $219.3B $201.5B
Total Assets $240.8B $224.4B
YoY Change 7.27% 0.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.95B $16.52B
YoY Change 2.61% 12.61%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.206B $2.283B
YoY Change 84.23% -71.32%
Total Short-Term Liabilities $30.65B $26.49B
YoY Change 15.67% -9.24%
LONG-TERM LIABILITIES
Long-Term Debt $109.5B $107.7B
YoY Change 1.64% 157.7%
Other Long-Term Liabilities $11.17B $5.857B
YoY Change 90.73% 3.17%
Total Long-Term Liabilities $11.17B $5.857B
YoY Change 90.73% 3.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.65B $26.49B
Total Long-Term Liabilities $11.17B $5.857B
Total Liabilities $41.82B $32.35B
YoY Change 29.26% -7.22%
SHAREHOLDERS EQUITY
Retained Earnings $6.418B $5.551B
YoY Change 15.62% -323.56%
Common Stock $424.0M $424.0M
YoY Change 0.0% 42.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.741B $3.638B
YoY Change 112.78% -8.45%
Treasury Stock Shares
Shareholders Equity $11.42B $14.90B
YoY Change
Total Liabilities & Shareholders Equity $240.8B $224.4B
YoY Change 7.27% 0.48%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $4.231B $4.214B
YoY Change 0.4% 87.62%
Depreciation, Depletion And Amortization $3.980B $4.161B
YoY Change -4.35% 0.24%
Cash From Operating Activities $8.737B $7.665B
YoY Change 13.99% -20.3%
INVESTING ACTIVITIES
Capital Expenditures -$4.610B -$4.402B
YoY Change 4.73% 5.79%
Acquisitions
YoY Change
Other Investing Activities -$2.385B $2.587B
YoY Change -192.19% -3549.33%
Cash From Investing Activities -$6.995B -$1.815B
YoY Change 285.4% -57.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.120B -2.981B
YoY Change 4.66% -67.13%
NET CHANGE
Cash From Operating Activities 8.737B 7.665B
Cash From Investing Activities -6.995B -1.815B
Cash From Financing Activities -3.120B -2.981B
Net Change In Cash -1.378B 2.869B
YoY Change -148.03% -177.81%
FREE CASH FLOW
Cash From Operating Activities $8.737B $7.665B
Capital Expenditures -$4.610B -$4.402B
Free Cash Flow $13.35B $12.07B
YoY Change 10.61% -12.42%

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