Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

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Analysis of Debt

Microsoft Excel

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Total Debt (Carrying Amount)

Verizon Communications Inc., balance sheet: debt

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total short-term and long-term debt, including finance leases (carrying amount)

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).

Debt item Description The company
Total short-term and long-term debt, including finance leases (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Verizon Communications Inc. total debt decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Total Debt (Fair Value)

Microsoft Excel
Dec 31, 2023
Selected Financial Data (US$ in millions)
Short-term and long-term debt, excluding finance leases
Finance lease obligations
Total short-term and long-term debt, including finance leases (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2023-12-31).


Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2023-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

Verizon Communications Inc., interest costs incurred

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Interest expense
Capitalized interest costs
Interest costs on debt balances and net amortization of debt discount

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).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. Verizon Communications Inc. interest expense increased from 2021 to 2022 and from 2022 to 2023.
Capitalized interest costs Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Verizon Communications Inc. capitalized interest costs increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Interest costs on debt balances and net amortization of debt discount Total interest costs incurred during the period and either capitalized or charged against earnings. Verizon Communications Inc. interest costs on debt balances and net amortization of debt discount increased from 2021 to 2022 and from 2022 to 2023.

Adjusted Interest Coverage Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income attributable to Verizon
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Interest costs on debt balances and net amortization of debt discount
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

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).

2023 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs on debt balances and net amortization of debt discount
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Verizon Communications Inc. adjusted interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.