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VERIZON COMMUNICATIONS INC
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| USD ($) $ in Millions | LTM | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | ||||||||||||||||||
Net Income | $ 16,599 | $ 17,608 | $ 17,949 | $ 12,095 | ||||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||||
Depreciation and amortization expense | 19,037 | 18,349 | 17,892 | 17,624 | ||||||||||||||
Employee retirement benefits | 729 | 1,025 | (52) | 1,206 | ||||||||||||||
Deferred income taxes | 3,678 | 2,340 | 815 | 2,388 | ||||||||||||||
Provision for expected credit losses | 2,257 | 2,349 | 2,338 | 2,214 | ||||||||||||||
Equity in losses of unconsolidated businesses, inclusive of dividends received | (22) | 42 | 75 | 84 | ||||||||||||||
Net loss (gain) on sale of divested businesses | - | - | - | - | ||||||||||||||
Net gain on sale of divested businesses | - | - | - | - | ||||||||||||||
Verizon Business Group goodwill impairment | 0 | 0 | 0 | 5,841 | ||||||||||||||
Equity in earnings of unconsolidated businesses, net of dividends received | - | - | - | - | ||||||||||||||
Extraordinary item, net of tax | - | - | - | - | ||||||||||||||
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses: | ||||||||||||||||||
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses | ||||||||||||||||||
Accounts receivable | (2,513) | (2,513) | (2,565) | (2,198) | ||||||||||||||
Inventories | (232) | (232) | (196) | 287 | ||||||||||||||
Prepaid expenses and other | (1,394) | (1,394) | (626) | (435) | ||||||||||||||
Other assets | - | - | - | - | ||||||||||||||
Accounts payable and accrued liabilities and Other current liabilities | 1,819 | 1,819 | 1,109 | 2,079 | ||||||||||||||
Discretionary employee benefits contributions | - | - | - | - | ||||||||||||||
Other, net | (1,059) | (2,256) | 173 | (3,710) | ||||||||||||||
Net cash provided by operating activities - continuing operations | - | - | - | - | ||||||||||||||
Net cash used in operating activities - discontinued operations | - | - | - | - | ||||||||||||||
Net cash provided by operating activities | 38,799 | 37,137 | 36,912 | 37,475 | ||||||||||||||
Cash Flows from Investing Activities | ||||||||||||||||||
Capital expenditures (including capitalized software) | (17,268) | (17,011) | (17,090) | (18,767) | ||||||||||||||
Capital expenditures (including capitalized software) | - | - | - | - | ||||||||||||||
Cash paid related to acquisitions of businesses, net of cash acquired | - | 0 | 0 | (30) | ||||||||||||||
Acquisitions of wireless licenses | (1,371) | (450) | (900) | (5,796) | ||||||||||||||
Collateral receipts (payments) related to derivative contracts, net | - | - | (712) | 880 | ||||||||||||||
Proceeds from dispositions of wireless licenses | - | - | - | - | ||||||||||||||
Acquisitions of licenses, investments and businesses, net of cash acquired | - | - | - | - | ||||||||||||||
Proceeds from disposition of business | - | - | 0 | 0 | ||||||||||||||
Net change in short-term investments | - | - | - | - | ||||||||||||||
Other, net | 149 | 801 | 28 | 281 | ||||||||||||||
Net cash used in investing activities - continuing operations | - | - | - | - | ||||||||||||||
Net cash provided by investing activities - discontinued operations | - | - | - | - | ||||||||||||||
Net cash used in investing activities | (27,970) | (16,660) | (18,674) | (23,432) | ||||||||||||||
Cash Flows from Financing Activities | ||||||||||||||||||
Proceeds from long-term borrowings | 26,532 | 18,268 | 3,146 | 2,018 | ||||||||||||||
Proceeds from asset-backed long-term borrowings | 16,404 | 9,338 | 12,422 | 6,594 | ||||||||||||||
Net proceeds from (repayments of) short-term commercial paper | - | - | 0 | (150) | ||||||||||||||
Repayments of long-term borrowings and finance lease obligations | (20,248) | (11,352) | (11,854) | (6,181) | ||||||||||||||
Repayments of long-term borrowings and finance lease obligations | - | - | - | - | ||||||||||||||
Repayments of asset-backed long-term borrowings | (17,837) | (8,437) | (8,490) | (4,443) | ||||||||||||||
Decrease in short-term obligations, excluding current maturities | - | - | - | - | ||||||||||||||
Dividends paid | (11,633) | (11,481) | (11,249) | (11,025) | ||||||||||||||
Purchase of common stock for treasury | - | - | - | - | ||||||||||||||
Proceeds from sale of common stock | - | - | - | - | ||||||||||||||
Acquisition of noncontrolling interest | - | - | - | - | ||||||||||||||
Special distribution to noncontrolling interest | - | - | - | - | ||||||||||||||
Proceeds from access line spin-off | - | - | - | - | ||||||||||||||
Other, net | (2,174) | (1,949) | (1,075) | (1,470) | ||||||||||||||
Net cash provided by (used in) financing activities - continuing operations | - | - | - | - | ||||||||||||||
Net cash used in financing activities - discontinued operations | - | - | - | - | ||||||||||||||
Net cash used in financing activities | (12,456) | (5,613) | (17,100) | (14,657) | ||||||||||||||
Decrease in cash and cash equivalents | - | - | - | - | ||||||||||||||
Increase (decrease) in cash, cash equivalents and restricted cash | $ (1,627) | $ 14,864 | $ 1,138 | $ (614) |