$VZ
VERIZON COMMUNICATIONS INC

2016 Q1 Form 10-Q Financial Statement

#000119312516562197 Filed on April 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $32.17B $31.98B
YoY Change 0.58% 3.78%
Cost Of Revenue $7.614B $12.10B
YoY Change -37.05% 8.11%
Gross Profit $24.56B $19.89B
YoY Change 23.48% 1.32%
Gross Profit Margin 76.33% 62.18%
Selling, General & Admin $7.600B $7.939B
YoY Change -4.27% -4.72%
% of Gross Profit 30.95% 39.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.017B $3.989B
YoY Change 0.7% -3.58%
% of Gross Profit 16.36% 20.06%
Operating Expenses $7.600B $7.939B
YoY Change -4.27% -4.72%
Operating Profit $8.157B $7.960B
YoY Change 2.47% 11.17%
Interest Expense $1.188B $1.332B
YoY Change -10.81% 9.72%
% of Operating Profit 14.56% 16.73%
Other Income/Expense, Net $32.00M $75.00M
YoY Change -57.33% -108.39%
Pretax Income $6.766B $6.669B
YoY Change 1.45% -4.1%
Income Tax $2.336B $2.331B
% Of Pretax Income 34.53% 34.95%
Net Earnings $4.310B $4.219B
YoY Change 2.16% 6.89%
Net Earnings / Revenue 13.4% 13.19%
Basic Earnings Per Share $1.06 $1.03
Diluted Earnings Per Share $1.06 $1.02
COMMON SHARES
Basic Shares Outstanding 4.080B shares 4.116B shares
Diluted Shares Outstanding 4.085B shares 4.121B shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.846B $4.933B
YoY Change 18.51% 39.19%
Cash & Equivalents $5.846B $4.386B
Short-Term Investments $0.00 $547.0M
Other Short-Term Assets $4.142B $4.129B
YoY Change 0.31% -38.52%
Inventory $1.142B $1.076B
Prepaid Expenses
Receivables $12.49B $12.70B
Other Receivables $0.00 $0.00
Total Short-Term Assets $23.62B $22.84B
YoY Change 3.41% -1.87%
LONG-TERM ASSETS
Property, Plant & Equipment $83.01B $81.64B
YoY Change 1.68% -8.33%
Goodwill $25.36B $23.30B
YoY Change 8.84% -5.45%
Intangibles
YoY Change
Long-Term Investments $821.0M $762.0M
YoY Change 7.74% -14.29%
Other Assets $6.298B $5.765B
YoY Change 9.25% 12.03%
Total Long-Term Assets $221.0B $213.0B
YoY Change 3.77% 7.4%
TOTAL ASSETS
Total Short-Term Assets $23.62B $22.84B
Total Long-Term Assets $221.0B $213.0B
Total Assets $244.6B $235.8B
YoY Change 3.73% 6.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.12B $15.19B
YoY Change 19.28% 1.37%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.265B $4.439B
YoY Change 41.14% 106.27%
Total Short-Term Liabilities $33.31B $28.71B
YoY Change 16.02% 13.25%
LONG-TERM LIABILITIES
Long-Term Debt $103.6B $108.9B
YoY Change -4.9% 1.24%
Other Long-Term Liabilities $11.35B $11.09B
YoY Change 2.38% 79.76%
Total Long-Term Liabilities $11.35B $11.09B
YoY Change 2.38% 79.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.31B $28.71B
Total Long-Term Liabilities $11.35B $11.09B
Total Liabilities $44.66B $39.80B
YoY Change 12.22% 26.27%
SHAREHOLDERS EQUITY
Retained Earnings $13.25B $4.422B
YoY Change 199.71% 25.13%
Common Stock $424.0M $424.0M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.279B $7.093B
YoY Change 2.62% 86.95%
Treasury Stock Shares
Shareholders Equity $18.64B $9.339B
YoY Change
Total Liabilities & Shareholders Equity $244.6B $235.8B
YoY Change 3.73% 6.42%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $4.310B $4.219B
YoY Change 2.16% 6.89%
Depreciation, Depletion And Amortization $4.017B $3.989B
YoY Change 0.7% -3.58%
Cash From Operating Activities $7.497B $10.17B
YoY Change -26.28% 42.44%
INVESTING ACTIVITIES
Capital Expenditures -$3.518B -$13.22B
YoY Change -73.39% 203.0%
Acquisitions $161.0M $2.000M
YoY Change 7950.0%
Other Investing Activities -$243.0M -$46.00M
YoY Change 428.26% -518.18%
Cash From Investing Activities -$3.436B -$13.18B
YoY Change -73.92% 190.8%
FINANCING ACTIVITIES
Cash Dividend Paid $2.302B $2.153B
YoY Change 6.92% 41.92%
Common Stock Issuance & Retirement, Net $3.000M $5.000B
YoY Change -99.94% 14605.88%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.685B -3.205B
YoY Change -16.22% -93.98%
NET CHANGE
Cash From Operating Activities 7.497B 10.17B
Cash From Investing Activities -3.436B -13.18B
Cash From Financing Activities -2.685B -3.205B
Net Change In Cash 1.376B -6.212B
YoY Change -122.15% -87.73%
FREE CASH FLOW
Cash From Operating Activities $7.497B $10.17B
Capital Expenditures -$3.518B -$13.22B
Free Cash Flow $11.02B $23.39B
YoY Change -52.91% 103.35%

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