← VERIZON COMMUNICATIONS INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — $21.7b $12.1b $17.9b $17.6b
Net Income (Loss) Attributable to Parent $13.1b $30.1b $15.5b $19.3b $17.8b $22.1b $21.3b $11.6b $17.5b $17.2b
Net Income (Loss) Attributable to Noncontrolling Interest $481.0m $449.0m $511.0m $523.0m $547.0m $553.0m $492.0m $481.0m $443.0m $434.0m
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $13.6b $30.6b $16.0b $19.8b $18.3b $22.6b $21.7b $12.1b $17.9b $17.6b
Amortization Cash Flow — — — — — — $2.5b $2.7b $2.8b $3.0b
Amortization Of Intangibles — — — — — — $2.5b $2.7b $2.8b $3.0b
Amortization of Intangible Assets $1.7b $2.2b $2.2b $2.3b $2.4b $2.1b $2.5b $2.7b $2.8b $3.0b
Depreciation $14.2b $14.7b $15.2b $14.4b $14.3b $14.1b $14.6b $14.9b $15.1b $15.3b
Depreciation Amortization Depletion — — — — — — $17.1b $17.6b $17.9b $18.3b
Depreciation and amortization $15.9b $17.0b $17.4b $16.7b $16.7b $16.2b $17.1b $17.6b $17.9b $18.3b
Depreciation and amortization expense $15.9b $17.0b $17.4b $16.7b $16.7b $16.2b $17.1b $17.6b $17.9b $18.3b
Depreciation, Depletion and Amortization, Nonproduction $15.9b $17.0b $17.4b $16.7b $16.7b $16.2b $17.1b $17.6b $17.9b $18.3b
Deferred Income Tax — — — — — — $3.0b $2.4b $815.0m $2.3b
Deferred Income Tax Expense (Benefit) ($1.1b) ($14.5b) $389.0m $1.2b $1.6b $4.3b $3.0b $2.4b $815.0m $2.3b
Deferred Tax — — — — — — $3.0b $2.4b $815.0m $2.3b
Deferred income taxes ($1.1b) ($14.5b) $389.0m $1.2b $1.6b $4.3b $3.0b $2.4b $815.0m $2.3b
Asset Impairment Charge — — — — — — $0 $5.8b $0 $0
Goodwill, Impairment Loss — — $4.6b $186.0m $0 $0 $16.0m $5.8b $0 $0
Share-based Payment Arrangement, Noncash Expense $400.0m — — — — — — — — —
Verizon Business Group goodwill impairment $0 $0 $4.6b $186.0m $0 $0 $0 $5.8b $0 $0
Earnings (Loss)es From Equity Investments — — — — — — ($10.0m) $84.0m $75.0m $42.0m
Gain (Loss) on Disposition of Assets — — — ($94.0m) ($126.0m) $706.0m $0 $0 — —
Gain (Loss) on Disposition of Business — $1.8b $0 $0 — $1.1b $0 $0 — —
Gain (Loss) on Disposition of Intangible Assets $142.0m $270.0m $0 $0 — — — — — —
Gain (Loss) on Disposition of Other Assets — — — $261.0m — — — — — —
Gain (Loss) on Extinguishment of Debt ($1.8b) ($2.0b) ($700.0m) ($3.6b) ($129.0m) ($3.5b) ($1.1b) $308.0m $385.0m $368.0m
Income (Loss) from Equity Method Investments ($98.0m) ($77.0m) ($186.0m) ($15.0m) ($45.0m) $145.0m $44.0m ($53.0m) ($53.0m) $0
Income Tax Expense (Benefit) $7.4b ($10.0b) $3.6b $2.9b $5.6b $6.8b $6.5b $4.9b $5.0b $5.1b
Interest Expense Nonoperating — — — — — — — — $6.6b $6.7b
Other Nonoperating Income (Expense) ($1.6b) ($2.0b) $2.4b ($2.9b) ($539.0m) $312.0m $1.4b ($313.0m) $995.0m $107.0m
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions ($138.0m) ($117.0m) ($231.0m) ($74.0m) ($91.0m) ($36.0m) $10.0m ($84.0m) ($75.0m) ($42.0m)
Changes in operating assets and liabilities:
Additional Financial Items
Accounts Receivable, Credit Loss Expense (Reversal) $1.4b $1.2b $980.0m $1.6b $1.4b $789.0m $1.6b $2.2b $2.3b $2.3b
Accounts payable and accrued liabilities and Other current liabilities ($1.1b) ($335.0m) $1.8b ($2.4b) ($966.0m) $1.5b ($33.0m) $2.1b $1.1b $1.8b
Accounts receivable ($5.1b) ($5.4b) ($2.7b) ($1.5b) $189.0m ($1.6b) ($2.0b) ($2.2b) ($2.6b) ($2.5b)
Acquisitions of wireless licenses ($534.0m) ($583.0m) ($1.4b) ($898.0m) ($2.1b) ($47.6b) ($3.7b) ($5.8b) ($900.0m) ($450.0m)
Beginning Cash Position — — — — — — $4.2b $4.1b $3.5b $4.6b
Cash Flow From Continuing Financing Activities — — — — — — ($8.5b) ($14.7b) ($17.1b) ($5.6b)
Cash Flow From Continuing Investing Activities — — — — — — ($28.7b) ($23.4b) ($18.7b) ($16.7b)
Change In Account Payable — — — — — — ($33.0m) $2.1b $1.1b $1.8b
Change In Inventory — — — — — — $627.0m $287.0m ($196.0m) ($232.0m)
Change In Payable — — — — — — ($33.0m) $2.1b $1.1b $1.8b
Change In Payables And Accrued Expense — — — — — — ($33.0m) $2.1b $1.1b $1.8b
Change In Prepaid Assets — — — — — — $928.0m ($435.0m) ($626.0m) ($1.4b)
Change In Receivables — — — — — — ($2.0b) ($2.2b) ($2.6b) ($2.5b)
Change In Working Capital — — — — — — ($456.0m) ($267.0m) ($2.3b) ($2.3b)
Changes In Account Receivables — — — — — — ($2.0b) ($2.2b) ($2.6b) ($2.5b)
Changes In Cash — — — — — — ($50.0m) ($614.0m) $1.1b $14.9b
Employee retirement benefits $2.7b $440.0m ($2.7b) ($284.0m) $840.0m ($3.4b) ($2.0b) $1.2b ($52.0m) $1.0b
End Cash Position — — — — — — $4.1b $3.5b $4.6b $19.5b
Financing Cash Flow — — — — — — ($8.5b) ($14.7b) ($17.1b) ($5.6b)
Free Cash Flow — — — — — — $10.4b $12.9b $18.9b $19.7b
Goodwill $27.2b $29.2b $24.6b $24.4b $24.8b $28.6b $28.7b $22.8b $22.8b $22.8b
Increase (Decrease) in Accounts Receivable $5.1b $5.4b $2.7b $1.5b ($189.0m) $1.6b $2.0b $2.2b $2.6b $2.5b
Increase (Decrease) in Inventories ($61.0m) ($168.0m) $324.0m $76.0m $369.0m $905.0m ($627.0m) ($287.0m) $196.0m $232.0m
Increase (Decrease) in Other Operating Assets ($449.0m) ($656.0m) — — — — — — — —
Inventories $61.0m $168.0m ($324.0m) ($76.0m) ($369.0m) ($905.0m) $627.0m $287.0m ($196.0m) ($232.0m)
Investing Cash Flow — — — — — — ($28.7b) ($23.4b) ($18.7b) ($16.7b)
Net Business Purchase And Sale — — — — — — $281.0m ($30.0m) $0 $0
Net Intangibles Purchase And Sale — — — — — — ($3.7b) ($5.8b) ($900.0m) ($450.0m)
Operating Gains Losses — — — — — — ($2.1b) $1.3b $23.0m $1.1b
Other Non Cash Items — — — — — — ($3.8b) ($3.7b) $173.0m ($2.3b)
Other, net ($2.7b) ($4.9b) ($1.8b) ($2.9b) ($2.7b) ($3.8b) ($2.1b) ($1.5b) ($1.1b) ($1.9b)
Payments of Financing Costs — — — $1.8b $1.1b $2.3b $366.0m $73.0m $259.0m $97.0m
Pension And Employee Benefit Expense — — — — — — ($2.0b) $1.2b ($52.0m) $1.0b
Prepaid expenses and other ($660.0m) $27.0m $37.0m ($2.8b) $1.2b $150.0m $928.0m ($435.0m) ($626.0m) ($1.4b)
Proceeds from asset-backed long-term borrowings $5.0b $4.3b $4.8b $8.6b $5.6b $8.4b $10.7b $6.6b $12.4b $9.3b
Proceeds from long-term borrowings $13.0b $27.7b $6.0b $10.1b $25.8b $33.0b $7.1b $2.0b $3.1b $18.3b
Provision for Loan, Lease, and Other Losses $692.0m $718.0m $459.0m $915.0m — — — — — —
Provision for expected credit losses $1.4b $1.2b $980.0m $1.6b $1.4b $789.0m $1.6b $2.2b $2.3b $2.3b
Provisionand Write Offof Assets — — — — — — $1.6b $2.2b $2.3b $2.3b
Purchase Of Business — — — — — ($4.1b) — ($30.0m) $0 $0
Purchase Of Intangibles — — — — — — ($3.7b) ($5.8b) ($900.0m) ($450.0m)
Repayments of asset-backed long-term borrowings $0 ($400.0m) ($3.6b) ($6.3b) ($7.4b) ($4.8b) ($4.9b) ($4.4b) ($8.5b) ($8.4b)
Repayments of long-term borrowings and finance lease obligations — ($23.8b) ($10.9b) ($17.6b) ($9.8b) ($14.1b) ($8.6b) ($6.2b) ($11.9b) ($11.4b)
Sale Of Business — — — — — $4.1b $281.0m $0 $0 —
Net Cash Provided by (Used in) Operating Activities $22.7b $25.3b $34.3b $35.7b $41.8b $39.5b $37.1b $37.5b $36.9b $37.1b
Cash flows from investing activities:
Capital Expenditure — — — — — — ($26.7b) ($24.6b) ($18.0b) ($17.5b)
Capital Expenditure Reported $17.1b $17.2b $16.7b — — — ($23.1b) ($18.8b) ($17.1b) ($17.0b)
Capital expenditures (including capitalized software) ($17.1b) ($17.2b) ($16.7b) ($17.9b) ($18.2b) ($20.3b) ($23.1b) ($18.8b) ($17.1b) ($17.0b)
Cash paid related to acquisitions of businesses, net of cash acquired ($3.8b) ($5.9b) ($230.0m) ($29.0m) ($520.0m) ($4.1b) $248.0m ($30.0m) $0 $0
Payments to Acquire Businesses, Net of Cash Acquired $3.8b $5.9b $230.0m $29.0m $520.0m $4.1b ($248.0m) $30.0m $0 $0
Net Investment Purchase And Sale — — — — — ($21.0m) ($2.3b) $880.0m ($712.0m) —
Purchase Of Investment — — — — — ($21.0m) ($2.3b) — — —
Net Other Investing Changes — — — — — — $62.0m $1.2b ($684.0m) $801.0m
Payments for (Proceeds from) Other Investing Activities ($493.0m) ($772.0m) ($383.0m) ($1.3b) $2.7b ($672.0m) ($62.0m) ($281.0m) ($28.0m) ($801.0m)
Net Cash Provided by (Used in) Investing Activities ($11.0b) ($19.4b) ($17.9b) ($17.6b) ($23.5b) ($67.2b) ($28.7b) ($23.4b) ($18.7b) ($16.7b)
Cash flows from financing activities:
Issuance Of Debt — — — — — — $17.8b $8.6b $15.6b $27.6b
Long Term Debt Issuance — — — — — — $17.8b $8.6b $15.6b $27.6b
Net Issuance Payments Of Debt — — — — — — $4.3b ($2.0b) ($4.8b) $7.8b
Net Long Term Debt Issuance — — — — — — $4.2b ($2.0b) ($4.8b) $7.8b
Net Short Term Debt Issuance — — — — — $0 $106.0m ($150.0m) $0 —
Proceeds from Issuance of Long-term Debt $13.0b $27.7b $10.8b $18.7b $31.5b $41.4b $17.8b $8.6b $15.6b $27.6b
Short Term Debt Issuance — — — — — $0 $106.0m — $0 —
Long Term Debt Payments — — — — — — ($13.6b) ($10.6b) ($20.3b) ($19.8b)
Repayment Of Debt — — — — — — ($13.6b) ($10.6b) ($20.3b) ($19.8b)
Proceeds from Issuance of Common Stock $3.0m — — — — — — — — —
Payments for Repurchase of Common Stock — $0 — — — — — — — —
Cash Dividends Paid — — — — — — ($10.8b) ($11.0b) ($11.2b) ($11.5b)
Common Stock Dividend Paid — — — — — — ($10.8b) ($11.0b) ($11.2b) ($11.5b)
Dividends Payable, Current $2.4b $2.4b $2.5b $2.6b $2.6b $2.7b $2.8b $2.8b $2.9b $2.9b
Dividends paid $9.3b $9.5b $9.8b $10.0b $10.2b $10.4b $10.8b $11.0b $11.2b $11.5b
Equity in losses of unconsolidated businesses, inclusive of dividends received $138 $117 $231 $74 $91 $36 ($10) $84 $75 $42
Payments of Dividends $9.3b $9.5b $9.8b $10.0b $10.2b $10.4b $10.8b $11.0b $11.2b $11.5b
Net Other Financing Charges — — — — — — ($2.1b) ($1.6b) ($1.1b) ($1.9b)
Proceeds from (Payments for) Other Financing Activities ($2.7b) ($4.9b) ($1.8b) ($2.9b) ($2.7b) ($3.8b) ($2.1b) ($1.5b) ($1.1b) ($1.9b)
Net Cash Provided by (Used in) Financing Activities ($13.3b) ($6.7b) ($15.4b) ($18.2b) $1.3b $8.3b ($8.5b) ($14.7b) ($17.1b) ($5.6b)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — $1.0b $1.0m $19.6b ($19.3b) ($50.0m) ($614.0m) $1.1b $14.9b
Increase (decrease) in cash, cash equivalents and restricted cash ($1.6b) ($289.0m) $1.0b $1.0m $19.6b ($19.3b) ($50.0m) ($614.0m) $1.1b $14.9b
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $3.9b $3.9b $23.5b $4.2b $4.1b $3.5b $4.6b $19.5b
Cash, cash equivalents and restricted cash, beginning of period $3.2b $2.9b $3.9b $3.9b $23.5b $4.2b $4.1b $3.5b $4.6b $19.5b
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — ($50.0m) ($614.0m) $1.1b $14.9b
Interest Paid, Excluding Capitalized Interest, Operating Activities $4.1b $4.4b $4.4b $4.7b $4.4b $3.4b $3.3b $4.4b $5.5b $5.8b
Income Taxes Paid, Net $9.6b $4.4b $2.2b $3.6b $2.7b $3.0b $2.7b $2.3b $5.6b $3.6b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.