Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Verizon Communications Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Price to Book Value (P/BV) since 2005
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Verizon Communications Inc., consolidated cash flow statement
US$ in millions
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).
- Net income
- Net income showed growth from 18,348 million USD in 2020 to a peak of 22,618 million USD in 2021, followed by a slight decline to 21,748 million USD in 2022. A significant drop occurred in 2023 to 12,095 million USD, with partial recovery in 2024 to 17,949 million USD, indicating fluctuations in profitability over the five-year period.
- Depreciation and amortization expense
- This expense remained relatively stable, increasing gradually from 16,720 million USD in 2020 to 17,892 million USD by 2024, reflecting ongoing capital asset usage and amortization.
- Employee retirement benefits
- Employee retirement benefits exhibited volatility, shifting from a positive expense of 840 million USD in 2020 to negative values in 2021 and 2022, suggesting unusual adjustments or reversals, followed by a return to a modest positive figure in 2023 and near-neutral in 2024.
- Deferred income taxes
- Deferred income taxes increased noticeably from 1,553 million USD in 2020 to a peak of 4,264 million USD in 2021, then declined steadily to 815 million USD in 2024, indicating changes in tax timing differences over the period.
- Provision for expected credit losses
- This provision experienced an increasing trend from 1,380 million USD in 2020 to 2,338 million USD in 2024, suggesting a rising expectation of credit risk or defaults.
- Equity in earnings (losses) of unconsolidated businesses
- These earnings were modest, fluctuating slightly and including a small loss in 2022, but remaining close to zero overall, indicating limited impact from investments in unconsolidated entities.
- Goodwill impairment
- A significant one-time goodwill impairment charge of 5,841 million USD was recorded in 2023, impacting net income substantially for that year.
- Working capital components
- Accounts receivable and inventories showed mostly negative values, particularly strong negative trends in accounts receivable from 189 million USD to -2,565 million USD, which may indicate collection improvements or write-offs. Inventories fluctuated without a clear trend. Prepaid expenses and other current assets turned negative in recent years, indicating possible reductions or reclassifications. Current liabilities generally increased, with shipments in accounts payable and accrued liabilities showing positive spikes in 2023.
- Operating activities
- Net cash provided by operating activities remained robust, peaking in 2020 at 41,768 million USD and maintaining levels above 36,000 million USD through 2024. Adjustments to reconcile net income to cash flows fluctuated but remained significant, particularly rising in 2023.
- Investing activities
- Capital expenditures were consistently high, peaking at 23,087 million USD in 2022 before decreasing towards 17,090 million USD in 2024. Cash flows from acquisitions and disposals varied widely, with major acquisitions payments especially in 2021 and proceeds from dispositions occurring mainly in 2021 and 2022. Acquisitions of wireless licenses were substantial in 2021 but reduced considerably afterward. Overall, net cash used in investing showed heavy outflows, notably in 2021.
- Financing activities
- Proceeds from long-term borrowings were strong in early years (exceeding 33,000 million USD in 2021) but declined markedly by 2024. Conversely, repayments of borrowings increased, especially in 2024, reaching near 11,854 million USD, indicating a tightening of debt levels. Dividends paid steadily increased each year. Net cash used in financing shifted from a positive net inflow in 2021 to negative outflows in 2023 and 2024, reflecting increased debt repayments and dividends exceeding new borrowings.
- Cash position
- Cash and equivalents showed volatility, increasing markedly in 2020 by 19,581 million USD but decreasing sharply in 2021 by 19,337 million USD. Subsequent years had smaller fluctuations with a slight increase again in 2024, ending at 4,635 million USD. The overall cash balance oscillated but remained relatively stable over the most recent years.