Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Verizon Communications Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
- Debt maturing within one year
- The short-term debt component fluctuated moderately over the observed periods, initially decreasing from 3.79% to below 2% by late 2020. From 2022 onward, it generally increased, peaking above 6% by mid-2024, before slightly declining toward 5% by late 2025, indicating a rising proportion of liabilities requiring near-term repayment.
- Accounts payable and accrued liabilities
- This category remained relatively stable, oscillating mostly between 5% and 6.7%. There is no evident strong trend upward or downward, suggesting consistent management of payables and accrued expenses relative to total liabilities and equity.
- Current operating lease liabilities
- Current lease liabilities showed marginal changes, mostly hovering slightly above 1%. The overall range is tight, denoting stable operating lease commitments in relation to total liabilities and equity.
- Other current liabilities
- Other current liabilities demonstrated a steady range around 3%, with minor increases noted post-2022. This stability suggests other short-term obligations maintained a consistent share of total liabilities and equity.
- Current liabilities (total)
- Current liabilities as a whole decreased from near 14% in early 2020 to about 11% by early 2021, then experienced an upward trend reaching approximately 16.8% by late 2024. This suggests an increasing proportion of short-term liabilities relative to total financing over the period.
- Long-term debt (excluding current portion)
- The long-term debt percentage rose to a peak of over 43% in early 2021, then steadily declined through to a low slightly above 31% by late 2024. This pattern reflects a reduction in long-term leverage relative to total liabilities and equity after an initial increase.
- Employee benefit obligations
- These liabilities showed a gradual decrease from about 6% to below 3% over the span, indicating reduced employee benefit-related obligations as a portion of total liabilities and equity.
- Deferred income taxes
- Deferred income taxes maintained a stable composition, fluctuating between roughly 10.6% and 12.4%, with slight upward movement toward the later periods, suggesting consistent tax deferral positions relative to the company's financing.
- Non-current operating lease liabilities
- Non-current lease liabilities gradually declined from approximately 6.2% to just below 5% by the end of the period, indicating a modest reduction in long-term lease obligations relative to total financing.
- Other liabilities
- This category exhibited more variability, initially trending downward from over 5% to below 3.5% in early 2021, then increasing again to around 5% by 2025, showing fluctuations in miscellaneous long-term obligations.
- Long-term liabilities (total)
- Long-term liabilities peaked near 68% in early 2021, followed by a progressive decline to about 57% by late 2024. This reflects a relative deleveraging in the long-term liability structure after the initial rise.
- Total liabilities
- Total liabilities decreased from just over 79% in early 2020 to approximately 73% by late 2025, illustrating a gradual shift towards a greater equity share in the overall capitalization structure.
- Equity components
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- Common stock
- Common stock showed minimal change, consistently contributing roughly 0.11% to 0.15% of total liabilities and equity, indicating stable par value capital issuance or structure.
- Additional paid-in capital
- This figure experienced a slight downward trend from about 4.5% to approximately 3.45%, suggesting some contraction or reclassification in paid-in capital over the timeframe.
- Retained earnings
- Retained earnings steadily increased from 18.5% to near 24.5%, highlighting accumulation of earnings and strengthening equity reserves.
- Accumulated other comprehensive income (loss)
- Accumulated OCI remained negative throughout, fluctuating between -0.02% and around -0.6%, with no clear directional trend, implying ongoing minor unrealized losses or adjustments relative to equity.
- Common stock in treasury
- The proportion of treasury stock declined over time from about -2.3% to around -0.85%, indicating a reduction in treasury shares relative to total capitalization.
- Deferred compensation and ESOPs
- This element increased slightly over the period from near 0.05% to about 0.2%, suggesting growing obligations related to employee ownership plans and deferred compensation.
- Total equity
- Total equity increased steadily from approximately 20.9% in early 2020 to nearly 27.4% by late 2025, reflecting an improving equity base relative to liabilities. The growth was primarily driven by rising retained earnings and decreasing treasury stock, contributing to a stronger equity position.
- Overall trends
- The data reveals a gradual reduction in total liabilities proportion coupled with a steady increase in total equity percentage, suggesting a shift toward a more equity-weighted capitalization structure over the five-year period. The mix of liabilities indicates decreasing reliance on long-term debt and stable but slightly increased short-term obligations. Employee benefit obligations and operating leases diminished modestly relative to total financing. The strengthening of retained earnings and the decline in treasury stock further supported equity growth, signaling improved retained profitability and capital management.