$VZ
VERIZON COMMUNICATIONS INC

2017 Q1 Form 10-Q Financial Statement

#000119312517141799 Filed on April 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $29.81B $32.17B
YoY Change -7.33% 0.58%
Cost Of Revenue $7.239B $7.614B
YoY Change -4.93% -37.05%
Gross Profit $22.58B $24.56B
YoY Change -8.07% 23.48%
Gross Profit Margin 75.72% 76.33%
Selling, General & Admin $6.746B $7.600B
YoY Change -11.24% -4.27%
% of Gross Profit 29.88% 30.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.059B $4.017B
YoY Change 1.05% 0.7%
% of Gross Profit 17.98% 16.36%
Operating Expenses $6.746B $7.600B
YoY Change -11.24% -4.27%
Operating Profit $6.963B $8.157B
YoY Change -14.64% 2.47%
Interest Expense $1.132B $1.188B
YoY Change -4.71% -10.81%
% of Operating Profit 16.26% 14.56%
Other Income/Expense, Net -$627.0M $32.00M
YoY Change -2059.38% -57.33%
Pretax Income $5.182B $6.766B
YoY Change -23.41% 1.45%
Income Tax $1.629B $2.336B
% Of Pretax Income 31.44% 34.53%
Net Earnings $3.450B $4.310B
YoY Change -19.95% 2.16%
Net Earnings / Revenue 11.57% 13.4%
Basic Earnings Per Share $0.85 $1.06
Diluted Earnings Per Share $0.84 $1.06
COMMON SHARES
Basic Shares Outstanding 4.082B shares 4.080B shares
Diluted Shares Outstanding 4.087B shares 4.085B shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.307B $5.846B
YoY Change -26.33% 18.51%
Cash & Equivalents $4.307B $5.846B
Short-Term Investments $0.00
Other Short-Term Assets $4.794B $4.142B
YoY Change 15.74% 0.31%
Inventory $1.194B $1.142B
Prepaid Expenses
Receivables $16.86B $12.49B
Other Receivables $0.00 $0.00
Total Short-Term Assets $27.16B $23.62B
YoY Change 15.0% 3.41%
LONG-TERM ASSETS
Property, Plant & Equipment $85.21B $83.01B
YoY Change 2.65% 1.68%
Goodwill $27.63B $25.36B
YoY Change 8.93% 8.84%
Intangibles
YoY Change
Long-Term Investments $1.080B $821.0M
YoY Change 31.55% 7.74%
Other Assets $8.222B $6.298B
YoY Change 30.55% 9.25%
Total Long-Term Assets $219.6B $221.0B
YoY Change -0.63% 3.77%
TOTAL ASSETS
Total Short-Term Assets $27.16B $23.62B
Total Long-Term Assets $219.6B $221.0B
Total Assets $246.7B $244.6B
YoY Change 0.88% 3.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.83B $18.12B
YoY Change -18.17% 19.28%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.707B $6.265B
YoY Change -40.83% 41.14%
Total Short-Term Liabilities $26.66B $33.31B
YoY Change -19.96% 16.02%
LONG-TERM LIABILITIES
Long-Term Debt $112.8B $103.6B
YoY Change 8.9% -4.9%
Other Long-Term Liabilities $12.27B $11.35B
YoY Change 8.06% 2.38%
Total Long-Term Liabilities $12.27B $11.35B
YoY Change 8.06% 2.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.66B $33.31B
Total Long-Term Liabilities $12.27B $11.35B
Total Liabilities $38.93B $44.66B
YoY Change -12.84% 12.22%
SHAREHOLDERS EQUITY
Retained Earnings $16.15B $13.25B
YoY Change 21.88% 199.71%
Common Stock $424.0M $424.0M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.144B $7.279B
YoY Change -1.85% 2.62%
Treasury Stock Shares
Shareholders Equity $23.49B $18.64B
YoY Change
Total Liabilities & Shareholders Equity $246.7B $244.6B
YoY Change 0.88% 3.73%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $3.450B $4.310B
YoY Change -19.95% 2.16%
Depreciation, Depletion And Amortization $4.059B $4.017B
YoY Change 1.05% 0.7%
Cash From Operating Activities $1.376B $7.497B
YoY Change -81.65% -26.28%
INVESTING ACTIVITIES
Capital Expenditures -$3.263B -$3.518B
YoY Change -7.25% -73.39%
Acquisitions $1.746B $161.0M
YoY Change 984.47% 7950.0%
Other Investing Activities -$459.0M -$243.0M
YoY Change 88.89% 428.26%
Cash From Investing Activities -$4.550B -$3.436B
YoY Change 32.42% -73.92%
FINANCING ACTIVITIES
Cash Dividend Paid $2.354B $2.302B
YoY Change 2.26% 6.92%
Common Stock Issuance & Retirement, Net $3.000M
YoY Change -99.94%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $4.665B -2.685B
YoY Change -273.74% -16.22%
NET CHANGE
Cash From Operating Activities $1.376B 7.497B
Cash From Investing Activities -$4.550B -3.436B
Cash From Financing Activities $4.665B -2.685B
Net Change In Cash $1.491B 1.376B
YoY Change 8.36% -122.15%
FREE CASH FLOW
Cash From Operating Activities $1.376B $7.497B
Capital Expenditures -$3.263B -$3.518B
Free Cash Flow $4.639B $11.02B
YoY Change -57.88% -52.91%

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