Common-Size Balance Sheet: Assets
Quarterly Data
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Verizon Communications Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and cash equivalents
- Cash and cash equivalents as a percentage of total assets exhibited notable volatility over the period analyzed. Starting at 2.39% in early 2020, it increased sharply to 7.01% by the end of that year, followed by a significant decline and oscillations around 0.5% to 1.3% in subsequent years, indicating a fluctuating liquidity position.
- Accounts receivable, net
- Accounts receivable as a proportion of total assets showed a gradual decline from 8.08% in March 2020 to approximately 6.5% by the end of the year. From 2021 onward, it remained relatively stable within the 6% to 6.8% range, suggesting a consistent level of credit extended to customers without major fluctuations.
- Inventories
- Inventory levels remained relatively low throughout, generally below 1% of total assets. An upward trend is visible from 0.38% in early 2021 to a peak near 1% by mid-2022, followed by a decline and stabilization around 0.5% to 0.66% in the most recent quarters, pointing to minor adjustments in stock management.
- Prepaid expenses and other current assets
- This category fluctuated modestly between approximately 1.6% and 2.9% of total assets, with no clear upward or downward trend, indicating relatively stable advance payments and miscellaneous current resources.
- Current assets
- Current assets declined substantially from 17.25% of total assets at the end of 2020 to a range between 9.4% and 10.7% thereafter, showing a reduced share of short-term assets within the asset structure, which may reflect shifts toward longer-term holdings or operational changes in liquidity management.
- Property, plant and equipment (PPE)
- The gross value of PPE took a notable dip from over 91% in early 2020 to around 79% by the end of 2021, followed by a steady increase to reach nearly 87% in early 2025. Meanwhile, accumulated depreciation lessened from -60% toward about -59% to -58%, demonstrating a gradual aging of fixed assets but with stable depreciation relative to asset size. Net PPE declined from 31.3% to approximately 27-28% by late 2021, then rose slightly to hover around 28-28.5% in later years, reflecting a balance between asset additions and depreciation effects.
- Investments in unconsolidated businesses
- This segment remained marginal and stable, consistently below 0.3% of total assets, indicating minimal impact on the overall asset mix.
- Wireless licenses
- Wireless licenses experienced an initial decline from around 31% to just over 28% between early 2020 and mid-2021, then surged sharply to over 40% by late 2021, maintaining levels near 41% through early 2025. This dramatic increase reflects either significant license acquisitions or revaluations, underscoring the strategic importance of wireless assets.
- Deposits for wireless licenses
- Deposits appeared only briefly in late 2020 and early 2021, reaching above 13% of total assets, indicating temporary capital commitments related to wireless licensing, which were later either capitalized or settled.
- Goodwill
- Goodwill as a percentage of total assets declined steadily from 8.28% in early 2020 to near 6% by 2024 and 2025. This downward trend may suggest impairment charges, disposals, or amortization over time, reflecting a decreasing intangible premium from acquisitions.
- Other intangible assets, net
- Other intangible assets steadily decreased from above 3% to near 2.8%-2.9%, showing a slight reduction but relative stability, which may be due to amortization or disposals.
- Wireless licenses, goodwill, and other intangible assets combined
- The total of these intangible assets remained fairly stable around 50% of total assets, with minor fluctuations indicating that, despite changes in individual components, the cumulative intangible asset base is consistently substantial.
- Operating lease right-of-use assets
- These assets ranged moderately between approximately 6.2% and 8.1% of total assets, with modest downward trends in the latest periods, reflecting gradual lease expirations or rights-of-use adjustments.
- Other assets
- Other assets maintained a low but slowly increasing presence, from about 3% to above 5% of total assets by early 2025, suggesting a growing share of miscellaneous long-term assets.
- Non-current assets
- Non-current assets consistently accounted for the majority of total assets, fluctuating near or above 85% and reaching above 90% from 2021 onward. This trend reflects a predominantly capital-intensive asset structure, with the company maintaining substantial investments in long-term property, licenses, and intangibles.