$VZ

VERIZON COMMUNICATIONS INC

CIK:0000732712|SEC Filings

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating Revenues
Operating Revenues	$ 34,253	$ 34,504	$ 68,693	$ 67,989
Operating Expenses
Selling, general and administrative expense	8,982	7,812	16,615	15,686
Depreciation and amortization expense	5,008	4,635	9,900	9,212
Total Operating Expenses	27,074	26,332	53,272	51,839
Operating Income	7,179	8,172	15,421	16,150
Equity in earnings (losses) of unconsolidated businesses	44	(3)	49	3
Other income, net	36	79	513	200
Interest expense	(1,985)	(1,639)	(3,925)	(3,271)
Income Before Provision For Income Taxes	5,274	6,609	12,058	13,082
Provision for income taxes	(1,325)	(1,488)	(2,963)	(2,978)
Net Income	3,949	5,121	9,095	10,104
Net income attributable to noncontrolling interests	114	118	215	222
Net income attributable to Verizon	3,835	5,003	8,880	9,882
Net Income	$ 3,949	$ 5,121	$ 9,095	$ 10,104
Basic Earnings Per Common Share
Net income attributable to Verizon (USD per share)	$ 0.92	$ 1.18	$ 2.12	$ 2.34
Weighted-average shares outstanding (in shares)	4,168	4,224	4,186	4,223
Diluted Earnings Per Common Share
Net income attributable to Verizon (USD per share)	$ 0.92	$ 1.18	$ 2.12	$ 2.34
Weighted-average shares outstanding (in shares)	4,171	4,228	4,190	4,227
Service revenues and other
Operating Revenues
Operating Revenues	$ 29,229	$ 28,249	$ 57,988	$ 56,336
Wireless equipment
Operating Revenues
Operating Revenues	5,024	6,255	10,705	11,653
Operating Expenses
Cost of services and equipment	5,859	7,007	12,365	13,113
Service
Operating Expenses
Cost of services and equipment	$ 7,225	$ 6,878	$ 14,392	$ 13,828

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net Income	$ 9,095	$ 10,104
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	9,900	9,212
Employee retirement benefits	35	331
Deferred income taxes	1,433	95
Provision for expected credit losses	1,043	1,135
Equity in (earnings) losses of unconsolidated businesses, net of dividends received	(35)	29
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses	(3,418)	(3,318)
Other, net	366	(831)
Net cash provided by operating activities	18,419	16,757
Cash Flows from Investing Activities
Capital expenditures (including capitalized software)	(8,210)	(7,953)
Cash paid related to acquisitions of businesses, net of cash acquired	(9,480)	0
Acquisitions of wireless licenses	(1,155)	(234)
Other, net	345	997
Net cash used in investing activities	(18,500)	(7,190)
Cash Flows from Financing Activities
Proceeds from long-term borrowings	9,940	1,676
Proceeds from asset-backed long-term borrowings	12,028	4,962
Repayments of long-term borrowings and finance lease obligations	(14,426)	(5,530)
Repayments of asset-backed long-term borrowings	(13,912)	(4,512)
Dividends paid	(5,864)	(5,712)
Purchase of common stock for treasury	(3,500)	0
Other, net	(1,380)	(1,155)
Net cash used in financing activities	(17,114)	(10,271)
Decrease in cash, cash equivalents and restricted cash	(17,195)	(704)
Cash, cash equivalents and restricted cash, beginning of period	19,499	4,635
Cash, cash equivalents and restricted cash, end of period	$ 2,304	$ 3,931

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 1,752	$ 19,048
Accounts receivable	27,734	28,347
Less Allowance for credit losses	1,248	1,250
Accounts receivable, net	26,486	27,097
Inventories	2,036	2,441
Prepaid expenses and other	7,297	8,336
Total current assets	37,571	56,922
Property, plant and equipment	357,086	337,991
Less Accumulated depreciation	231,589	228,524
Property, plant and equipment, net	125,497	109,467
Investments in unconsolidated businesses	783	785
Wireless licenses	158,159	157,039
Goodwill	30,664	22,841
Other intangible assets, net	12,317	10,458
Operating lease right-of-use assets	23,158	23,498
Other assets	22,037	23,248
Total assets	410,186	404,258
Current liabilities
Debt maturing within one year	21,783	18,618
Accounts payable and accrued liabilities	20,422	24,981
Current operating lease liabilities	4,835	4,542
Other current liabilities	15,171	14,229
Total current liabilities	62,211	62,370
Long-term debt	143,448	139,532
Employee benefit obligations	11,758	11,099
Deferred income taxes	50,234	48,717
Non-current operating lease liabilities	18,392	18,951
Other liabilities	18,947	17,848
Total long-term liabilities	242,779	236,147
Commitments and Contingencies
Equity
Series preferred stock ($0.10 par value; 250,000,000 shares authorized; none issued)	0	0
Common stock ($0.10 par value; 6,250,000,000 shares authorized in each period; 4,291,433,646 shares issued in each period)	429	429
Additional paid in capital	13,258	13,372
Retained earnings	97,728	94,744
Accumulated other comprehensive loss	(1,784)	(1,727)
Common stock in treasury, at cost (136,658,444 and 74,258,296 shares outstanding)	(6,312)	(3,255)
Deferred compensation – employee stock ownership plans (ESOPs) and other	601	897
Noncontrolling interests	1,276	1,281
Total equity	105,196	105,741
Total liabilities and equity	$ 410,186	$ 404,258