|
Debt (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Combined Schedule of Current and Noncurrent Debt and Capital Lease Obligations |
Changes to debt during 2013
are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
(dollars in
millions) |
|
|
|
|
Debt Maturing
within One Year |
|
|
Long-term
Debt |
|
|
Total |
|
|
Balance at January 1,
2013
|
|
$ |
4,369 |
|
|
$ |
47,618 |
|
|
$ |
51,987 |
|
|
Proceeds from long-term
borrowings
|
|
|
– |
|
|
|
49,166 |
|
|
|
49,166 |
|
|
Repayments of long-term
borrowings and capital leases obligations
|
|
|
(3,943 |
) |
|
|
(4,220 |
) |
|
|
(8,163 |
) |
|
Decrease in short-term
obligations, excluding current maturities
|
|
|
(142 |
) |
|
|
– |
|
|
|
(142 |
) |
|
Reclassifications of
long-term debt
|
|
|
3,328 |
|
|
|
(3,328 |
) |
|
|
– |
|
|
Other
|
|
|
321 |
|
|
|
422 |
|
|
|
743 |
|
|
|
|
|
|
|
Balance at
December 31, 2013
|
|
$ |
3,933 |
|
|
$ |
89,658 |
|
|
$ |
93,591 |
|
|
|
|
|
|
|
| Debt Maturing within One Year |
Debt maturing within one
year is as follows:
|
|
|
|
|
|
|
|
|
| |
|
(dollars in millions) |
|
| At December 31, |
|
2013 |
|
|
2012 |
|
|
Long-term debt maturing
within one year
|
|
$ |
3,486 |
|
|
$ |
3,869 |
|
|
Commercial paper and
other
|
|
|
447 |
|
|
|
500 |
|
|
|
|
|
|
|
Total debt maturing within
one year
|
|
$ |
3,933 |
|
|
$ |
4,369 |
|
|
|
|
|
|
|
| Long-term Debt Table |
Outstanding
long-term debt obligations are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
(dollars in
millions) |
|
|
At
December 31, |
|
Interest Rates % |
|
Maturities |
|
|
2013 |
|
|
2012 |
|
|
Verizon
Communications—notes payable and other
|
|
0.50 – 3.85 |
|
|
2014 – 2042 |
|
|
$ |
20,416 |
|
|
$ |
11,198 |
|
|
|
4.50 – 5.50 |
|
|
2015 – 2041 |
|
|
|
20,226 |
|
|
|
7,062 |
|
|
|
5.55 – 6.90 |
|
|
2016 – 2043 |
|
|
|
31,965 |
|
|
|
11,031 |
|
|
|
7.35 – 8.95 |
|
|
2018 – 2039 |
|
|
|
5,023 |
|
|
|
5,017 |
|
|
|
Floating |
|
|
2014 – 2018 |
|
|
|
5,500 |
|
|
|
1,000 |
|
|
|
|
|
|
|
Verizon
Wireless—notes payable and other
|
|
8.50 – 8.88 |
|
|
2015 – 2018 |
|
|
|
3,931 |
|
|
|
8,635 |
|
|
Verizon
Wireless—Alltel assumed notes
|
|
6.80 – 7.88 |
|
|
2016 – 2032 |
|
|
|
1,300 |
|
|
|
1,500 |
|
|
Telephone
subsidiaries—debentures
|
|
5.13 – 6.86 |
|
|
2027 – 2033 |
|
|
|
1,075 |
|
|
|
2,045 |
|
|
|
7.38 – 7.88 |
|
|
2022 – 2032 |
|
|
|
1,099 |
|
|
|
1,349 |
|
|
|
8.00 – 8.75 |
|
|
2019 – 2031 |
|
|
|
880 |
|
|
|
880 |
|
|
|
|
|
|
|
Other
subsidiaries—debentures and other
|
|
6.84 – 8.75 |
|
|
2018 – 2028 |
|
|
|
1,700 |
|
|
|
1,700 |
|
|
|
|
|
|
|
Capital lease obligations
(average rate of 8.1% and 6.3% in 2013 and 2012,
respectively)
|
|
|
|
|
|
|
|
|
293 |
|
|
|
298 |
|
|
Unamortized discount, net
of premium
|
|
|
|
|
|
|
|
|
(264 |
) |
|
|
(228 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Total long-term debt,
including current maturities
|
|
|
|
|
|
|
|
|
93,144 |
|
|
|
51,487 |
|
|
Less long-term debt
maturing within one year
|
|
|
|
|
|
|
|
|
3,486 |
|
|
|
3,869 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total long-term
debt
|
|
|
|
|
|
|
|
$ |
89,658 |
|
|
$ |
47,618 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturities of Long-term Debt |
Maturities of
long-term debt outstanding at December 31, 2013 are as
follows:
|
|
|
|
|
|
Years |
|
(dollars in millions) |
|
|
2014
|
|
$ |
3,486 |
|
|
2015
|
|
|
2,740 |
|
|
2016
|
|
|
10,818 |
|
|
2017
|
|
|
1,331 |
|
|
2018
|
|
|
14,970 |
|
|
Thereafter
|
|
|
59,799 |
|
|