Financial Statements for Verizon Communications Inc.

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Verizon Communications Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	29,420.00	30,045.00	29,007.00	28,552.00	28,242.00
Other Revenue, Total	-	-	-	-	-
Total Revenue	29,420.00	30,045.00	29,007.00	28,552.00	28,242.00
Cost of Revenue, Total	15,050.00	17,206.00	15,158.00	15,024.00	15,347.00
Gross Profit	14,370.00	12,839.00	13,849.00	13,528.00	12,895.00
Selling/General/Admin. Expenses, Total	8,148.00	8,438.00	8,366.00	7,877.00	7,700.00
Research & Development	-	-	-	-	-
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	7,570.00	-	-	-
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	23,198.00	33,214.00	23,524.00	22,901.00	23,047.00
Operating Income	6,222.00	-3,169.00	5,483.00	5,651.00	5,195.00
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	39.00	-1,094.00	6.00	10.00	6.00
Income Before Tax	5,719.00	-4,736.00	4,923.00	5,078.00	4,632.00
Income After Tax	4,855.00	-1,926.00	4,292.00	4,285.00	3,906.00
Minority Interest	-2,903.00	-2,303.00	-2,699.00	-2,460.00	-2,220.00
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	1,952.00	-4,229.00	1,593.00	1,825.00	1,686.00
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	1,952.00	-4,229.00	1,593.00	1,825.00	1,686.00
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	1,952.00	-4,229.00	1,593.00	1,825.00	1,686.00
Income Available to Common Incl. Extra Items	1,952.00	-4,229.00	1,593.00	1,825.00	1,686.00
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	0.96	0.00	-	-	-
Diluted Weighted Average Shares	2,872.00	2,864.00	2,866.00	2,858.00	2,849.00
Diluted EPS Excluding Extraordinary Items	0.68	-1.48	0.56	0.64	0.59
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.52	0.52	0.52	0.50	0.50
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.68	0.15	0.67	0.64	0.59

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	115,846.00	110,875.00	106,565.00	107,808.00
Other Revenue, Total	-	-	-	-
Total Revenue	115,846.00	110,875.00	106,565.00	107,808.00
Cost of Revenue, Total	46,275.00	45,875.00	42,008.00	42,903.00
Gross Profit	69,571.00	65,000.00	64,557.00	64,905.00
Selling/General/Admin. Expenses, Total	32,381.00	29,670.00	29,281.00	29,863.00
Research & Development	-	-	-	-
Depreciation/Amortization	16,460.00	16,496.00	16,303.00	16,217.00
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	7,570.00	5,954.00	4,328.00	2,847.00
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	102,686.00	97,995.00	91,920.00	91,830.00
Operating Income	13,160.00	12,880.00	14,645.00	15,978.00
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-1,072.00	-73.00	-43.00	16.00
Income Before Tax	9,897.00	10,483.00	12,684.00	13,520.00
Income After Tax	10,557.00	10,198.00	10,217.00	11,601.00
Minority Interest	-9,682.00	-7,794.00	-7,668.00	-6,707.00
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	875.00	2,404.00	2,549.00	4,894.00
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	875.00	2,404.00	2,549.00	4,894.00
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	875.00	2,404.00	2,549.00	4,894.00
Income Available to Common Incl. Extra Items	875.00	2,404.00	2,549.00	4,894.00
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	-	-	-
Diluted Weighted Average Shares	2,862.00	2,839.00	2,833.00	2,841.00
Diluted EPS Excluding Extraordinary Items	0.31	0.85	0.90	1.72
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	2.03	1.98	1.93	1.87
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	2.02	2.89	1.80	2.58

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	5,475.00	3,093.00	9,714.00	10,001.00	5,909.00
Short Term Investments	660.00	470.00	593.00	777.00	623.00
Cash and Short Term Investments	6,135.00	3,563.00	10,307.00	10,778.00	6,532.00
Accounts Receivable - Trade, Net	11,814.00	12,576.00	12,030.00	11,595.00	11,234.00
Receivables - Other	-	-	-	-	-
Total Receivables, Net	11,814.00	12,576.00	12,030.00	11,595.00	11,234.00
Total Inventory	798.00	1,075.00	1,223.00	856.00	1,063.00
Prepaid Expenses	6,511.00	4,021.00	4,103.00	3,901.00	4,683.00
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	25,258.00	21,235.00	27,663.00	27,130.00	23,512.00
Property/Plant/Equipment, Total - Gross	212,082.00	209,575.00	216,995.00	217,739.00	218,250.00
Accumulated Depreciation, Total	-123,901.00	-120,933.00	-129,185.00	-129,844.00	-130,064.00
Goodwill, Net	24,132.00	24,139.00	24,048.00	23,478.00	23,465.00
Intangibles, Net	81,472.00	83,677.00	83,421.00	79,029.00	79,038.00
Long Term Investments	3,321.00	3,401.00	3,625.00	3,539.00	3,566.00
Other Long Term Assets, Total	3,822.00	4,128.00	4,515.00	5,001.00	5,154.00
Total Assets	226,186.00	225,222.00	231,082.00	226,072.00	222,921.00
Accounts Payable	-	-	-	-	-
Accrued Expenses	-	-	-	-	-
Notes Payable/Short Term Debt	-	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	10,888.00	4,369.00	6,335.00	5,912.00	3,121.00
Other Current liabilities, Total	6,571.00	6,405.00	6,432.00	6,468.00	6,561.00
Total Current Liabilities	31,489.00	26,956.00	28,770.00	26,353.00	22,913.00
Long Term Debt	41,993.00	47,618.00	46,467.00	46,479.00	48,476.00
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	41,993.00	47,618.00	46,467.00	46,479.00	48,476.00
Total Debt	52,881.00	51,987.00	52,802.00	52,391.00	51,597.00
Deferred Income Tax	24,993.00	24,677.00	26,474.00	25,649.00	25,610.00
Minority Interest	54,278.00	52,376.00	54,983.00	53,278.00	51,750.00
Other Liabilities, Total	40,123.00	40,438.00	36,743.00	37,163.00	37,501.00
Total Liabilities	192,876.00	192,065.00	193,437.00	188,922.00	186,250.00
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	297.00	297.00	297.00	297.00	297.00
Additional Paid-In Capital	37,894.00	37,990.00	37,959.00	37,932.00	37,926.00
Retained Earnings (Accumulated Deficit)	-3,255.00	-3,734.00	1,968.00	1,845.00	1,444.00
Treasury Stock - Common	-3,994.00	-4,071.00	-4,247.00	-4,438.00	-4,735.00
Other Equity, Total	2,056.00	2,046.00	1,035.00	939.00	1,139.00
Total Equity	33,310.00	33,157.00	37,645.00	37,150.00	36,671.00
Total Liabilities & Shareholders' Equity	226,186.00	225,222.00	231,082.00	226,072.00	222,921.00
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	2,861.00	2,858.57	2,853.92	2,848.88	2,841.03

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	3,093.00	13,362.00	6,668.00	2,009.00
Short Term Investments	470.00	592.00	545.00	490.00
Cash and Short Term Investments	3,563.00	13,954.00	7,213.00	2,499.00
Accounts Receivable - Trade, Net	12,576.00	11,776.00	11,781.00	12,573.00
Receivables - Other	-	-	-	-
Total Receivables, Net	12,576.00	11,776.00	11,781.00	12,573.00
Total Inventory	1,075.00	940.00	1,131.00	1,426.00
Prepaid Expenses	4,021.00	4,269.00	2,223.00	5,247.00
Other Current Assets, Total	-	-	-	-
Total Current Assets	21,235.00	30,939.00	22,348.00	21,745.00
Property/Plant/Equipment, Total - Gross	209,575.00	215,626.00	211,655.00	229,743.00
Accumulated Depreciation, Total	-120,933.00	-127,192.00	-123,944.00	-137,758.00
Goodwill, Net	24,139.00	23,357.00	21,988.00	22,472.00
Intangibles, Net	83,677.00	79,128.00	78,826.00	78,831.00
Long Term Investments	3,401.00	3,448.00	3,497.00	3,118.00
Other Long Term Assets, Total	4,128.00	5,155.00	5,635.00	8,756.00
Total Assets	225,222.00	230,461.00	220,005.00	226,907.00
Accounts Payable	4,740.00	4,194.00	3,936.00	4,337.00
Accrued Expenses	10,246.00	9,417.00	10,609.00	9,442.00
Notes Payable/Short Term Debt	0.00	0.00	0.00	1,100.00
Current Port. of LT Debt/Capital Leases	4,369.00	4,849.00	7,542.00	6,105.00
Other Current liabilities, Total	7,601.00	12,301.00	8,510.00	8,152.00
Total Current Liabilities	26,956.00	30,761.00	30,597.00	29,136.00
Long Term Debt	47,618.00	50,303.00	45,252.00	55,051.00
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	47,618.00	50,303.00	45,252.00	55,051.00
Total Debt	51,987.00	55,152.00	52,794.00	62,256.00
Deferred Income Tax	24,677.00	25,060.00	22,818.00	19,190.00
Minority Interest	52,376.00	49,938.00	48,343.00	42,761.00
Other Liabilities, Total	40,438.00	38,429.00	34,426.00	39,387.00
Total Liabilities	192,065.00	194,491.00	181,436.00	185,525.00
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	297.00	297.00	297.00	297.00
Additional Paid-In Capital	37,990.00	37,919.00	37,922.00	40,108.00
Retained Earnings (Accumulated Deficit)	-3,734.00	1,179.00	4,368.00	7,260.00
Treasury Stock - Common	-4,071.00	-5,002.00	-5,267.00	-5,000.00
Other Equity, Total	2,046.00	1,041.00	844.00	-1,372.00
Total Equity	33,157.00	35,970.00	38,569.00	41,382.00
Total Liabilities & Shareholders' Equity	225,222.00	230,461.00	220,005.00	226,907.00
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	2,858.57	2,834.02	2,827.02	2,835.67

In Millions of USD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	4,855.00	10,557.00	12,483.00	8,191.00	3,906.00
Depreciation/Depletion	4,118.00	16,460.00	12,323.00	8,156.00	4,028.00
Amortization	-	-	-	-	-
Deferred Taxes	878.00	-952.00	1,665.00	1,237.00	656.00
Non-Cash Items	569.00	9,247.00	1,638.00	1,123.00	564.00
Changes in Working Capital	-2,889.00	-3,826.00	-3,351.00	-3,436.00	-3,197.00
Cash from Operating Activities	7,531.00	31,486.00	24,758.00	15,271.00	5,957.00
Capital Expenditures	-3,740.00	-20,110.00	-15,131.00	-7,672.00	-3,730.00
Other Investing Cash Flow Items, Total	141.00	-392.00	-294.00	88.00	57.00
Cash from Investing Activities	-3,599.00	-20,502.00	-15,425.00	-7,584.00	-3,673.00
Financing Cash Flow Items	-989.00	-12,987.00	-6,869.00	-5,893.00	-4,953.00
Total Cash Dividends Paid	-1,472.00	-5,230.00	-3,887.00	-2,587.00	-1,291.00
Issuance (Retirement) of Stock, Net	-97.00	315.00	278.00	210.00	69.00
Issuance (Retirement) of Debt, Net	1,008.00	-3,351.00	-2,503.00	-2,778.00	-3,562.00
Cash from Financing Activities	-1,550.00	-21,253.00	-12,981.00	-11,048.00	-9,737.00
Foreign Exchange Effects	-	-	-	-	-
Net Change in Cash	2,382.00	-10,269.00	-3,648.00	-3,361.00	-7,453.00
Cash Interest Paid, Supplemental	-	1,971.00	-	-	-
Cash Taxes Paid, Supplemental	-	351.00	-	-	-

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	10,557.00	10,198.00	10,217.00	11,601.00
Depreciation/Depletion	16,460.00	16,496.00	16,405.00	16,534.00
Amortization	-	-	-	-
Deferred Taxes	-952.00	-223.00	3,233.00	2,093.00
Non-Cash Items	9,247.00	8,488.00	5,236.00	4,659.00
Changes in Working Capital	-3,826.00	-5,179.00	-1,728.00	-3,497.00
Cash from Operating Activities	31,486.00	29,780.00	33,363.00	31,390.00
Capital Expenditures	-20,110.00	-16,244.00	-16,458.00	-16,872.00
Other Investing Cash Flow Items, Total	-392.00	-1,006.00	1,404.00	-6,284.00
Cash from Investing Activities	-20,502.00	-17,250.00	-15,054.00	-23,156.00
Financing Cash Flow Items	-12,987.00	-1,705.00	995.00	-1,864.00
Total Cash Dividends Paid	-5,230.00	-5,555.00	-5,412.00	-5,271.00
Issuance (Retirement) of Stock, Net	315.00	241.00	0.00	0.00
Issuance (Retirement) of Debt, Net	-3,351.00	1,183.00	-9,233.00	-8,872.00
Cash from Financing Activities	-21,253.00	-5,836.00	-13,650.00	-16,007.00
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	-10,269.00	6,694.00	4,659.00	-7,773.00
Cash Interest Paid, Supplemental	1,971.00	2,629.00	2,433.00	2,573.00
Cash Taxes Paid, Supplemental	351.00	762.00	430.00	158.00