VERIZON COMMUNICATIONS INC

Listed Company

VZCIK 0000732712NYSELarge AcceleratedTelephone Communications (No Radiotelephone)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$138.19B

Net Income

$17.17B

Total Assets

$404.26B

Equity

$105.74B

Shares Out

4.22B

Op. Cash Flow

$37.14B

+ 13F Filer

Business

VERIZON COMMUNICATIONS INC is a holding company that, through its subsidiaries, provides communications, technology, information and streaming products and services to consumers, businesses and government entities. It offers wireless and wireline voice, data and video services, fixed wireless access broadband, fiber-optic residential broadband (Fios), network security, managed network services, IoT connectivity and related equipment and content offerings. The company operates two reportable segments: Verizon Consumer Group and Verizon Business Group, with additional wholesale and enterprise-focused businesses. It serves domestic and international customers via direct retail stores, digital and omni-channel platforms, resellers, national retailers, carriers and system integrators.

Summary from filing dated 2025-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating Revenues	138,191	134,788	133,974	136,835	133,613
Selling, general and administrative expense	33,818	34,113	32,745	30,136	28,658
Depreciation and amortization expense	18,349	17,892	17,624	17,099	16,206
Verizon Business Group goodwill impairment	0	0	5,800	0	0
Total Operating Expenses	108,932	106,102	111,097	106,368	101,165
Operating Income	29,259	28,686	22,877	30,467	32,448
Equity in earnings (losses) of unconsolidated businesses	0	−53	−53	44	145
Other income (expense), net	107	995	−313	1,373	312
Interest expense	−6,694	−6,649	−5,524	−3,613	—
Income Before Provision For Income Taxes	22,672	22,979	16,987	28,271	29,420
Provision for income taxes	−5,064	−5,030	−4,892	−6,523	−6,802
Net Income	17,608	17,949	12,095	21,748	22,618
Net income attributable to noncontrolling interests	434	443	481	492	553
Net income attributable to Verizon	17,174	17,506	11,614	21,256	22,065
Net income attributable to Verizon (in USD per share)	4.06	4.15	2.76	5.06	5.32
Weighted-average shares outstanding (in shares)	4,226	4,218	4,211	4,202	4,148
Net income attributable to Verizon (in USD per share)	4.06	4.14	2.75	5.06	5.32
Weighted-average shares outstanding (in shares)	4,231	4,223	4,215	4,204	4,150

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	19,048	4,194	2,065	2,605	2,921
Accounts receivable	28,347	27,261	26,102	25,332	24,742
Less Allowance for credit losses	1,250	1,152	1,017	826	896
Accounts receivable, net	27,097	26,109	25,085	24,506	23,846
Inventories	2,441	2,247	2,057	2,388	3,055
Prepaid expenses and other	8,336	7,973	7,607	8,358	6,906
Total current assets	56,922	40,523	36,814	37,857	36,728
Property, plant and equipment	337,991	331,406	320,108	307,689	289,897
Less Accumulated depreciation	228,524	222,884	211,798	200,255	190,201
Property, plant and equipment, net	109,467	108,522	108,310	107,434	99,696
Investments in unconsolidated businesses	785	842	953	1,071	1,061
Wireless licenses	157,039	156,613	155,667	149,796	147,619
Goodwill	22,841	22,841	22,843	28,671	28,603
Other intangible assets, net	10,458	11,129	11,057	11,461	11,677
Operating lease right-of-use assets	23,498	24,472	24,726	26,130	27,883
Other assets	23,248	19,769	19,885	17,260	13,329
Total assets	404,258	384,711	380,255	379,680	366,596
Debt maturing within one year	18,618	22,633	12,973	9,963	7,443
Accounts payable and accrued liabilities	24,981	23,374	23,453	23,977	24,833
Current operating lease liabilities	4,542	4,415	4,266	4,134	3,859
Other current liabilities	14,229	14,349	12,531	12,097	11,025
Total current liabilities	62,370	64,771	53,223	50,171	47,160
Long-term debt	139,532	121,381	137,701	140,676	143,425
Employee benefit obligations	11,099	11,997	13,189	12,974	15,410
Deferred income taxes	48,717	46,732	45,781	43,441	40,685
Non-current operating lease liabilities	18,951	19,928	20,002	21,558	23,203
Other liabilities	17,848	19,327	16,560	18,397	13,513
Total long-term liabilities	236,147	219,365	233,233	237,046	236,236
Commitments and Contingencies	—	—	—	—	—
Series preferred stock ($0.10 par value; 250,000,000 shares authorized; none issued)	0	0	0	0	0
Common stock ($0.10 par value; 6,250,000,000 shares authorized in each period; 4,291,433,646 shares issued in each period)	429	429	429	429	—
Additional paid in capital	13,372	13,466	13,631	13,420	13,861
Retained earnings	94,744	89,110	82,915	82,380	71,993
Accumulated other comprehensive loss	−1,727	−923	−1,380	−1,865	−927
Common stock in treasury, at cost (74,258,296 and 81,753,488 shares outstanding)	−3,255	−3,583	−3,821	−4,013	−4,104
Deferred compensation employee stock ownership plans (ESOPs) and other	897	738	656	793	538
Noncontrolling interests	1,281	1,338	1,369	1,319	1,410
Total equity	105,741	100,575	93,799	92,463	83,200
Total liabilities and equity	404,258	384,711	380,255	379,680	366,596

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Employee retirement benefits	1,025	−52	1,206	−2,046	−3,391
Deferred income taxes	2,340	815	2,388	2,973	4,264
Provision for expected credit losses	2,349	2,338	2,214	1,611	789
Equity in losses of unconsolidated businesses, inclusive of dividends received	42	75	84	−10	36
Accounts receivable	−2,513	−2,565	−2,198	−1,978	−1,592
Inventories	−232	−196	287	627	−905
Prepaid expenses and other	−1,394	−626	−435	928	150
Accounts payable and accrued liabilities and Other current liabilities	1,819	1,109	2,079	−33	1,457
Other, net	−2,256	173	−3,710	−3,778	−93
Net cash provided by operating activities	37,137	36,912	37,475	37,141	39,539
Capital expenditures (including capitalized software)	−17,011	−17,090	−18,767	−23,087	−20,286
Cash paid related to acquisitions of businesses, net of cash acquired	0	0	−30	248	−4,065
Acquisitions of wireless licenses	−450	−900	−5,796	−3,653	−47,596
Other, net	801	−684	1,161	62	693
Net cash used in investing activities	−16,660	−18,674	−23,432	−28,662	−67,153
Proceeds from long-term borrowings	18,268	3,146	2,018	7,074	33,034
Proceeds from asset-backed long-term borrowings	9,338	12,422	6,594	10,732	8,383
Repayments of long-term borrowings and finance lease obligations	−11,352	−11,854	−6,181	−8,616	−14,063
Repayments of asset-backed long-term borrowings	−8,437	−8,490	−4,443	−4,948	−4,800
Dividends paid	−11,481	−11,249	−11,025	−10,805	−10,445
Other, net	−1,949	−1,075	−1,620	−2,072	−3,832
Net cash used in financing activities	−5,613	−17,100	−14,657	−8,529	8,277
Increase (decrease) in cash, cash equivalents and restricted cash	14,864	1,138	−614	−50	−19,337

Filings

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Holdings (13F)

Portfolio as of 2013-09-30 · 1 positions

Reported AUM

$69.64M

Holdings

Top sector

$69.64M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$69.64M	100.0%

Top holdings

Issuer	Ticker	Shares	Value	%
Verizon Communications Inc.	—	1.49M	$69.64M	100.0%