Verizon Communications Inc. (VZ) | Statement of Cash Flows
Annual Data | Quarterly Data
The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Verizon Communications Inc., Consolidated Statement of Cash Flows
USD $ in millions
| 12 months ended | Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
|---|---|---|---|---|---|---|
| Net income | 10,557 | 10,198 | 10,217 | 10,358 | 12,583 | |
| Depreciation and amortization expense | 16,460 | 16,496 | 16,405 | 16,532 | 14,565 | |
| Employee retirement benefits | 8,198 | 7,426 | 3,988 | 5,095 | 1,955 | |
| Deferred income taxes | (952) | (223) | 3,233 | 1,384 | 2,183 | |
| Provision for uncollectible accounts | 972 | 1,026 | 1,246 | 1,306 | 1,085 | |
| Equity in earnings of unconsolidated businesses, net of dividends received | 77 | 36 | 2 | 389 | 212 | |
| Accounts receivable | (1,717) | (966) | (859) | (1,393) | (1,085) | |
| Inventories | (136) | 208 | 299 | 235 | (188) | |
| Other assets | 306 | 86 | (313) | (102) | (59) | |
| Accounts payable and accrued liabilities | 1,144 | (1,607) | 1,075 | (1,251) | (1,701) | |
| Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses | (403) | (2,279) | 202 | (2,511) | (3,033) | |
| Other, net | (3,423) | (2,900) | (1,930) | (988) | (2,930) | |
| Adjustments to reconcile net income to net cash provided by operating activities | 20,929 | 19,582 | 23,146 | 21,207 | 14,037 | |
| Net cash provided by operating activities | 31,486 | 29,780 | 33,363 | 31,565 | 26,620 | |
| Capital expenditures (including capitalized software) | (16,175) | (16,244) | (16,458) | (17,047) | (17,238) | |
| Acquisitions of investments and businesses, net of cash acquired | (913) | (1,797) | (652) | (5,958) | (15,904) | |
| Acquisitions of wireless licenses, net | (3,935) | (221) | (786) | – | – | |
| Proceeds from dispositions | – | – | 2,594 | – | – | |
| Net change in short-term investments | 27 | 35 | (3) | 84 | 1,677 | |
| Other, net | 494 | 977 | 251 | (410) | (114) | |
| Net cash used in investing activities | (20,502) | (17,250) | (15,054) | (23,331) | (31,579) | |
| Proceeds from long-term borrowings | 4,489 | 11,060 | – | 12,040 | 21,598 | |
| Repayments of long-term borrowings and capital lease obligations | (6,403) | (11,805) | (8,136) | (19,260) | (4,146) | |
| Increase (decrease) in short-term obligations, excluding current maturities | (1,437) | 1,928 | (1,097) | (1,652) | 2,389 | |
| Dividends paid | (5,230) | (5,555) | (5,412) | (5,271) | (4,994) | |
| Proceeds from sale of common stock | 315 | 241 | – | – | 16 | |
| Proceeds from access line spin-off | – | – | 3,083 | – | – | |
| Purchase of common stock for treasury | – | – | – | – | (1,368) | |
| Special distribution to noncontrolling interest | (8,325) | – | – | – | – | |
| Other, net | (4,662) | (1,705) | (2,088) | (1,864) | 93 | |
| Net cash provided by (used in) financing activities | (21,253) | (5,836) | (13,650) | (16,007) | 13,588 | |
| Increase (decrease) in cash and cash equivalents | (10,269) | 6,694 | 4,659 | (7,773) | 8,629 | |
| Cash and cash equivalents, beginning of period | 13,362 | 6,668 | 2,009 | 9,782 | 1,153 | |
| Cash and cash equivalents, end of period | 3,093 | 13,362 | 6,668 | 2,009 | 9,782 |
| Item | Description | The company |
|---|---|---|
| Net cash provided by operating activities | The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. | Verizon Communications Inc.'s net cash provided by operating activities declined from 2010 to 2011 but then slightly increased from 2011 to 2012. |
ADVERTISEMENT