Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

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 cash flow statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income 12,095 21,748 22,618 18,348 19,788
Depreciation and amortization expense 17,624 17,099 16,206 16,720 16,682
Employee retirement benefits 1,206 (2,046) (3,391) 840 (284)
Deferred income taxes 2,388 2,973 4,264 1,553 1,232
Provision for expected credit losses 2,214 1,611 789 1,380 1,588
Equity in (earnings) losses of unconsolidated businesses, net of dividends received 84 (10) 36 91 74
Verizon Business Group goodwill impairment 5,841
Media goodwill impairment 186
Accounts receivable (2,198) (1,978) (1,592) 189 (1,471)
Inventories 287 627 (905) (369) (76)
Prepaid expenses and other (435) 928 150 1,202 (2,807)
Accounts payable and accrued liabilities and Other current liabilities 2,079 (33) 1,457 (966) (2,359)
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses (267) (456) (890) 56 (6,713)
Discretionary employee benefits contributions (300)
Changes in device payment plan agreement non-current receivables (2,975) (4,919) (2,438) 558 23
Net debt extinguishment (gains) losses (308) 1,077 3,541 129 3,604
Loss on spectrum licenses 223 1,195
Gain on disposition of Media business (1,051)
Other, net (427) 64 (368) 898 (134)
Other, net (3,710) (3,778) (93) 2,780 3,493
Adjustments to reconcile net income to net cash provided by operating activities 25,380 15,393 16,921 23,420 15,958
Net cash provided by operating activities 37,475 37,141 39,539 41,768 35,746
Capital expenditures, including capitalized software (18,767) (23,087) (20,286) (18,192) (17,939)
Cash (paid) received related to acquisitions of businesses, net of cash acquired (30) 248 (4,065) (520) (29)
Acquisitions of wireless licenses (5,796) (3,653) (47,596) (2,126) (898)
Collateral (payments) receipts related to derivative contracts, net 880 (2,265) (21)
Proceeds from disposition of business 33 4,122 28
Other, net 281 62 693 (2,674) 1,257
Net cash used in investing activities (23,432) (28,662) (67,153) (23,512) (17,581)
Proceeds from long-term borrowings 2,018 7,074 33,034 25,822 10,079
Proceeds from asset-backed long-term borrowings 6,594 10,732 8,383 5,635 8,576
Net proceeds from (repayments of) short-term commercial paper (150) 106 (9)
Repayments of long-term borrowings and finance lease obligations (6,181) (8,616) (14,063) (9,775) (17,584)
Repayments of asset-backed long-term borrowings (4,443) (4,948) (4,800) (7,413) (6,302)
Dividends paid (11,025) (10,805) (10,445) (10,232) (10,016)
Net debt related costs (73) (366) (2,309) (1,055) (1,797)
Other, net (1,397) (1,706) (1,523) (1,648) (1,120)
Other, net (1,470) (2,072) (3,832) (2,703) (2,917)
Net cash provided by (used in) financing activities (14,657) (8,529) 8,277 1,325 (18,164)
Increase (decrease) in cash, cash equivalents and restricted cash (614) (50) (19,337) 19,581 1
Cash, cash equivalents and restricted cash, beginning of period 4,111 4,161 23,498 3,917 3,916
Cash, cash equivalents and restricted cash, end of period 3,497 4,111 4,161 23,498 3,917

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Verizon Communications Inc. net cash provided by operating activities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Net cash used in investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Verizon Communications Inc. net cash used in investing activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Verizon Communications Inc. net cash provided by (used in) financing activities decreased from 2021 to 2022 and from 2022 to 2023.