$VZ
VERIZON COMMUNICATIONS INC

2014 Q4 Form 8-K Financial Statement

#000119312516664170 Filed on July 29, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $33.19B $31.59B $31.48B
YoY Change 6.85% 4.32% 5.7%
Cost Of Revenue $14.40B $12.25B $12.09B
YoY Change 20.41% 11.79% 9.55%
Gross Profit $18.79B $19.33B $19.40B
YoY Change -1.64% 0.08% 3.43%
Gross Profit Margin 56.61% 61.21% 61.61%
Selling, General & Admin $16.86B $8.277B $7.550B
YoY Change 490.02% 2.99% -6.18%
% of Gross Profit 89.72% 42.81% 38.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.068B $4.167B $4.161B
YoY Change -2.75% 0.31% 0.24%
% of Gross Profit 21.65% 21.55% 21.45%
Operating Expenses $20.93B $8.277B $7.550B
YoY Change 197.23% 2.99% -6.18%
Operating Profit -$2.136B $6.890B $7.685B
YoY Change -117.71% -3.34% 17.24%
Interest Expense -$1.277B $1.255B $1.164B
YoY Change 22.55% 126.13% 126.46%
% of Operating Profit 18.21% 15.15%
Other Income/Expense, Net $27.00M $71.00M $66.00M
YoY Change -110.34% 255.0% 164.0%
Pretax Income -$3.886B $5.658B $6.544B
YoY Change -136.12% -14.43% 5.79%
Income Tax -$1.738B $1.864B $2.220B
% Of Pretax Income 32.94% 33.92%
Net Earnings -$2.231B $3.695B $4.214B
YoY Change -144.03% 65.55% 87.62%
Net Earnings / Revenue -6.72% 11.7% 13.39%
Basic Earnings Per Share -$0.54 $0.89 $1.02
Diluted Earnings Per Share -$0.54 $0.89 $1.01
COMMON SHARES
Basic Shares Outstanding 4.152B shares 4.147B shares
Diluted Shares Outstanding 4.159B shares 4.153B shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.15B $7.853B $6.424B
YoY Change -79.4% -86.3% 167.0%
Cash & Equivalents $10.60B $7.218B $5.776B
Short-Term Investments $555.0M $635.0M $648.0M
Other Short-Term Assets $3.200B $2.431B $2.424B
YoY Change -6.05% -20.56% -61.49%
Inventory $1.153B $1.206B $1.073B
Prepaid Expenses
Receivables $13.99B $13.28B $12.97B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $29.54B $24.77B $22.89B
YoY Change -58.4% -66.39% 4.24%
LONG-TERM ASSETS
Property, Plant & Equipment $89.95B $89.93B $89.71B
YoY Change 1.11% 1.59% 1.56%
Goodwill $24.64B $24.62B $24.66B
YoY Change 0.02% 1.14% 1.34%
Intangibles
YoY Change
Long-Term Investments $677.0M $818.0M $852.0M
YoY Change -79.66% -76.1% -74.33%
Other Assets $5.564B $5.112B $5.262B
YoY Change 22.69% 14.98% 38.44%
Total Long-Term Assets $202.6B $201.5B $201.5B
YoY Change -0.26% -0.71% 0.07%
TOTAL ASSETS
Total Short-Term Assets $29.54B $24.77B $22.89B
Total Long-Term Assets $202.6B $201.5B $201.5B
Total Assets $232.1B $226.3B $224.4B
YoY Change -15.32% -18.21% 0.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.598B $17.06B $16.52B
YoY Change 13.0% 9.17% 12.61%
Accrued Expenses $4.016B
YoY Change 1.57%
Deferred Revenue
YoY Change
Short-Term Debt $19.00M $0.00 $0.00
YoY Change -95.75%
Long-Term Debt Due $2.735B $1.603B $2.283B
YoY Change -21.54% -80.46% -71.32%
Total Short-Term Liabilities $27.99B $26.89B $26.49B
YoY Change 3.46% -11.23% -9.24%
LONG-TERM LIABILITIES
Long-Term Debt $110.5B $107.6B $107.7B
YoY Change 23.29% 18.35% 157.7%
Other Long-Term Liabilities $5.574B $5.750B $5.857B
YoY Change -1.4% 2.28% 3.17%
Total Long-Term Liabilities $5.574B $5.750B $5.857B
YoY Change -94.15% 2.28% 3.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.99B $26.89B $26.49B
Total Long-Term Liabilities $5.574B $5.750B $5.857B
Total Liabilities $33.56B $32.64B $32.35B
YoY Change -72.57% -9.12% -7.22%
SHAREHOLDERS EQUITY
Retained Earnings $2.447B $6.964B $5.551B
YoY Change 37.32% -493.89% -323.56%
Common Stock $424.0M $424.0M $424.0M
YoY Change 42.76% 42.76% 42.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.263B $3.465B $3.638B
YoY Change -17.62% -12.72% -8.45%
Treasury Stock Shares
Shareholders Equity $12.30B $16.58B $14.90B
YoY Change
Total Liabilities & Shareholders Equity $232.1B $226.3B $224.4B
YoY Change -15.32% -18.21% 0.48%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income -$2.231B $3.695B $4.214B
YoY Change -144.03% 65.55% 87.62%
Depreciation, Depletion And Amortization $4.068B $4.167B $4.161B
YoY Change -2.75% 0.31% 0.24%
Cash From Operating Activities $7.474B $8.353B $7.665B
YoY Change -28.35% -25.68% -20.3%
INVESTING ACTIVITIES
Capital Expenditures -$4.578B -$4.202B -$4.402B
YoY Change -7.46% -3.56% 5.79%
Acquisitions
YoY Change
Other Investing Activities -$848.0M $118.0M $2.587B
YoY Change -718.98% -94.56% -3549.33%
Cash From Investing Activities -$5.426B -$4.084B -$1.815B
YoY Change 12.81% 86.65% -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 1.332B -2.827B -2.981B
YoY Change -115.13% -106.16% -67.13%
NET CHANGE
Cash From Operating Activities 7.474B 8.353B 7.665B
Cash From Investing Activities -5.426B -4.084B -1.815B
Cash From Financing Activities 1.332B -2.827B -2.981B
Net Change In Cash 3.380B 1.442B 2.869B
YoY Change -206.22% -97.37% -177.81%
FREE CASH FLOW
Cash From Operating Activities $7.474B $8.353B $7.665B
Capital Expenditures -$4.578B -$4.202B -$4.402B
Free Cash Flow $12.05B $12.56B $12.07B
YoY Change -21.63% -19.5% -12.42%

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