Stock Analysis on Net
Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

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Analysis of Debt

Microsoft Excel LibreOffice Calc

Total Debt (Carrying Amount)

Verizon Communications Inc., balance sheet: debt

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total short- and long-term debt, including finance leases (carrying amount)

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-21).

Debt item Description The company
Total short- 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.’s total debt decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2020
Selected Financial Data (US$ in millions)
Short- and long-term debt, excluding finance leases
Finance lease obligations
Total short- and long-term debt, including finance leases (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (filing date: 2021-02-25).

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 (filing date: 2021-02-25).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =

Interest Costs Incurred

Verizon Communications Inc., interest costs incurred

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Interest expense
Capitalized interest costs
Interest costs on debt balances

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-21).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. Verizon Communications Inc.’s interest expense decreased from 2018 to 2019 and from 2019 to 2020.
Capitalized interest costs Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Verizon Communications Inc.’s capitalized interest costs decreased from 2018 to 2019 and from 2019 to 2020.
Interest costs on debt balances Total interest costs incurred during the period and either capitalized or charged against earnings. Verizon Communications Inc.’s interest costs on debt balances decreased from 2018 to 2019 and from 2019 to 2020.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
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
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 (filing date: 2021-02-25), 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-21).

2020 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
= ÷ =

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.’s adjusted interest coverage ratio improved from 2018 to 2019 and from 2019 to 2020.