Stock Analysis on Net
Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Verizon Communications Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Debt maturing within one year
Accounts payable
Accrued expenses
Accrued vacation, salaries and wages
Interest payable
Taxes payable
Accounts payable and accrued liabilities
Current operating lease liabilities
Dividends payable
Contract liability
Other
Other current liabilities
Current liabilities
Long-term debt, excluding maturing within one year
Employee benefit obligations
Deferred income taxes
Non-current operating lease liabilities
Other liabilities
Long-term liabilities
Total liabilities
Series preferred stock, $0.10 par value; none issued
Common stock, $0.10 par value
Additional paid in capital
Retained earnings
Accumulated other comprehensive loss
Common stock in treasury, at cost
Deferred compensation, employee stock ownership plans (ESOPs) and other
Equity attributable to Verizon
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2024-12-31), 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).

Current Liabilities
The proportion of current liabilities relative to total liabilities and equity increased steadily from 12.53% in 2020 to 16.84% in 2024. This growth is primarily driven by a significant rise in debt maturing within one year, which more than tripled from 1.86% to 5.88% over the period. Accounts payable saw a moderate upward trend from 2.11% to 2.71%. Conversely, accrued expenses and accrued vacation, salaries, and wages demonstrated a declining trend, decreasing to 1.31% and 1.15%, respectively, by 2024.
Long-Term Liabilities
Long-term debt (excluding the portion maturing within one year) reduced substantially, falling from 38.92% in 2020 to 31.55% in 2024, representing a notable deleveraging in long-term debt obligations. Employee benefit obligations also contracted considerably from 5.9% to 3.12% during the same period. Deferred income taxes slightly increased from 11.28% to 12.15%, while non-current operating lease liabilities slightly declined from 5.69% to 5.18%. Other long-term liabilities increased moderately, reaching 5.02% in 2024 from 3.79% in 2020. Consequently, total long-term liabilities decreased from 65.58% to 57.02%, reflecting a trend toward lower reliance on long-term debt financing.
Total Liabilities
Total liabilities consistently decreased in relative terms from 78.11% in 2020 to 73.86% in 2024. This reduction reflects the combined effects of a decrease in long-term liabilities and changes in the composition of current liabilities, particularly the increase in short-term debt obligations offsetting reductions in other areas.
Equity
Equity as a proportion of total liabilities and equity showed a continuous upward trend, rising from 21.89% in 2020 to 26.14% in 2024. This growth is largely attributable to increases in retained earnings, which rose from 19.11% to 23.16%, indicating improved profitability or retained capital over the period. Additional paid-in capital and common stock remained relatively stable with slight fluctuations. Accumulated other comprehensive loss narrowed its negative impact slightly, moving from -0.02% to -0.24%. The reduction in common stock in treasury from -2.12% to -0.93% further supported the equity increase.
Other Liabilities and Items
Contract liabilities increased steadily from 1.53% to 1.95%, suggesting growing deferred revenue or advance payments from customers. Dividends payable remained fairly stable around 0.74-0.75%. The combined figure for accounts payable and accrued liabilities decreased slightly from 6.53% to 6.08%, indicating overall moderation in short-term obligations excluding debt. Other current and non-current liabilities exhibited modest increases, contributing to changes in the liability structure.
Summary of Key Trends
The data reveals a gradual shift from long-term debt toward higher short-term liabilities, especially with notable increases in debt maturing within one year. Total liabilities declined moderately as a percentage of total capital, while equity strengthened driven by retained earnings growth and a reduction in treasury stock. The company appears to be optimizing its capital structure by lowering long-term debt dependence and enhancing equity base over the analyzed period.