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Verizon Write: For this assignment, address the following seven parts in a Word document:Part 1: Overview of the company (one paragraph) State the name

Verizon Write: For this assignment, address the following seven parts in a Word document:Part 1: Overview of the company (one paragraph)

State the name

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Verizon Write: For this assignment, address the following seven parts in a Word document:Part 1: Overview of the company (one paragraph)

State the name of the company (VERIZON is the company)
Provide a brief overview of the company you selected, including a description of its business operations.
State the current market price per share.

Part 2: Income statements (one to two paragraphs)

Summarize key trends in revenues, operating income, and net income over the last 3 years.

Part 3: Common size income statements (one paragraph)

Evaluate the trends in gross margin, operating income margin, and net profit margin over the past 3 years.

Part 4: Balance sheets (one to two paragraphs)

Summarize key trends in total assets, total current assets, total current liabilities, long-term debt, and total shareholders’ equity over the past 3 years.

Part 5: Common size balance sheets (one paragraph)

Evaluate the trends in total current assets as a percent (%) of total assets, total current liabilities as a percent (%) of total assets, long-term debt as percent (%) of total assets, and total shareholders’ equity as a percent (%) of total assets over the past 3 years.

Part 6: Cash flow (one paragraph)

Calculate simple cash flow for the past 3 years.

Show your calculations.

Summarize the trend in simple cash flow for the past 3 years.
Compare the simple cash flow to the net operating cash flow from the statement of cash flows for the past 3 years.

Part 7: Financial analysis conclusion: (one paragraph)

Determine the strengths and weaknesses of the company based primarily on the trends in items discussed from the income statements, balance sheets, common size income statements, and common size balance sheets, as well as the comments on cash flow.
Create a table that indicates whether each financial fact is a strength or a weakness.
Determine the overall financial strength of the company based on the financial facts included as strengths or weaknesses.

Categorize the overall financial performance of the company as strong, neutral, or weak.
Justify your conclusion based on the table you created.

The Section 1: Financial Statement Analysis  

Must be two to three double-spaced pages in length including any tables or calculations (but not including title and references pages) and formatted according to APA Style (Links to an external site.) as outlined in the Writing Center’s APA Formatting for Microsoft Word (Links to an external site.)
Must include a separate title page with the following:

Title of paper in bold font

Space should be between title and the rest of the information on the title page.

Student’s name
Name of institution (The University of Arizona Global Campus)
Course name and number
Instructor’s name
Due date
resource : 
https://www-mergentonline-com.proxy-library.ashford.edu/companydetail.php?compnumber=36979&pagetype=synopsis reportbuilder

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Verizon Communications Inc (NYS: VZ)

General Company Information

Principal Office Website

1095 Avenue of the Americas New York, NY 10036 USA www.verizon.com

Phone Primary NAICS

212 395-1000 551112 : Offices of Other Holding Companies

Auditor Closing Stock Price

Ernst & Young LLP 51.24 (as of 11/18/2021)

Number of Employees Incorporated

132,200 (Approximate Full-Time as of 12/31/2020) October 1983 , DE, United States

Country Mergent Dividend Achiever

United States No

Exchange and Ticker Number of Shareholders

NYS : VZ 510,654 (record) (as of 12/31/2020)

Primary SIC

4813 : Telephone communications, exc. radio

Business Summary

Verizon Communications is a holding company. Through its subsidiaries, Co. provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Co. has two reportable segments: Verizon Consumer

Group, which provides consumer-focused wireless and wireline communications services and products under the Verizon brand and through wholesale and other arrangements; and Verizon Business Group, which provides wireless and wireline communications

services and products, including data, video and data conferencing services, security and managed network services, local and long distance voice services and network access.

Company Financials

Income Statement

Exchange rate used is that of the Year End reported date

As Reported Annual Income Statement

Report Date 12/31/2020 12/31/2019 12/31/2018

Currency USD USD USD

Audit Status Not Qualified Not Qualified Not Qualified

Consolidated Yes Yes Yes

Scale Thousands Thousands Thousands

Service revenues & other revenues $ 109,872,000 $ 110,305,000 $ 108,605,000

Wireless equipment revenues $ 18,420,000 $ 21,563,000 $ 22,258,000

Total operating revenues $ 128,292,000 $ 131,868,000 $ 130,863,000

Cost of services (exclusive of items shown below) $ 31,401,000 $ 31,772,000 $ 32,185,000

Wireless cost of equipment $ 19,800,000 $ 22,954,000 $ 23,323,000

Selling, general & administrative expense $ 31,573,000 $ 29,896,000 $ 31,083,000

Depreciation & amortization expense $ 16,720,000 $ 16,682,000 $ 17,403,000

Oath goodwill impairment – $ 186,000 $ 4,591,000

Total operating expenses $ 99,494,000 $ 101,490,000 $ 108,585,000

Operating income $ 28,798,000 $ 30,378,000 $ 22,278,000

Equity in earnings (losses) of unconsolidated businesses $ (45,000) $ (15,000) $ (186,000)

Interest income $ 65,000 $ 121,000 $ 94,000

Other components of net periodic benefit income (cost) $ (425,000) $ 627,000 $ 3,068,000

Early debt extinguishment costs $ (129,000) $ (3,604,000) –

Other income (expense), net $ (50,000) $ (44,000) $ (798,000)

Other income & (expense), net $ (539,000) $ (2,900,000) $ 2,364,000

Interest expense $ 4,247,000 $ 4,730,000 $ 4,833,000

Income (loss) before provision (benefit) for income taxes – domestic $ 22,844,000 $ 21,655,000 $ 19,801,000

Income (loss) before provision (benefit) for income taxes – foreign $ 1,123,000 $ 1,078,000 $ (178,000)

Income (loss) before provision (benefit) for income taxes $ 23,967,000 $ 22,733,000 $ 19,623,000

Current federal provision (benefit) for income taxes $ 2,826,000 $ 518,000 $ 2,187,000

Current foreign provision (benefit) for income taxes $ 159,000 $ 221,000 $ 267,000

Current state & local provision (benefit) for income taxes $ 1,081,000 $ 974,000 $ 741,000

Total current provision (benefit) for income taxes $ 4,066,000 $ 1,713,000 $ 3,195,000

Deferred federal provision (benefit) for income taxes $ 1,432,000 $ 1,150,000 $ 175,000

Deferred foreign provision (benefit) for income taxes $ 1,000 $ (13,000) $ 30,000

Deferred state & local provision (benefit) for income taxes $ 120,000 $ 95,000 $ 184,000

Total deferred provision (benefit) for income taxes $ 1,553,000 $ 1,232,000 $ 389,000

Provision (benefit) for income taxes $ 5,619,000 $ 2,945,000 $ 3,584,000

Net income (loss) $ 18,348,000 $ 19,788,000 $ 16,039,000

Net income attributable to noncontrolling interests $ (547,000) $ (523,000) $ (511,000)

Net income (loss) attributable to Verizon Communications Inc. $ 17,801,000 $ 19,265,000 $ 15,528,000

Weighted average shares outstanding – basic 4,140,000 4,138,000 4,128,000

Weighted average shares outstanding – diluted 4,142,000 4,140,000 4,132,000

Year end shares outstanding 4,138,130 4,135,828 4,132,033

Net earnings (loss) per common share – basic $ 4.30 $ 4.66 $ 3.76

Net earnings (loss) per common share – diluted $ 4.30 $ 4.65 $ 3.76

Dividends declared $ 2.49 $ 2.44 $ 2.39

Total number of employees 132200 135000 144500

Total number of stockholders 510654 605414 630756

Foreign currency translation adjustments 180000 16000 -117000

Balance Sheet

Exchange rate used is that of the Year End reported date

As Reported Annual Balance Sheet

Report Date 12/31/2020 12/31/2019 12/31/2018

Currency USD USD USD

Audit Status Not Qualified Not Qualified Not Qualified

Consolidated Yes Yes Yes

Scale Thousands Thousands Thousands

Cash & cash equivalents $ 22,171,000 $ 2,594,000 $ 2,745,000

Accounts receivable, gross – $ 26,162,000 $ 25,867,000

Less: allowances – accounts receivable – $ 733,000 $ 765,000

Accounts receivable $ 25,169,000 – –

Less allowance for credit losses $ 1,252,000 – –

Accounts receivable, net $ 23,917,000 $ 25,429,000 $ 25,102,000

Inventories $ 1,796,000 $ 1,422,000 $ 1,336,000

Prepaid taxes $ 1,200,000 – –

Deferred contract costs $ 2,472,000 – –

Restricted cash $ 1,195,000 – –

Other prepaid expenses & other current assets $ 1,843,000 – –

Prepaid expenses & other current assets $ 6,710,000 $ 8,028,000 $ 5,453,000

Total current assets $ 54,594,000 $ 37,473,000 $ 34,636,000

Land $ 608,000 $ 594,000 $ 807,000

Buildings & equipment $ 32,933,000 $ 31,216,000 $ 30,468,000

Central office & other network equipment $ 160,369,000 $ 152,733,000 $ 147,250,000

Cable, poles & conduit $ 56,814,000 $ 52,658,000 $ 49,859,000

Leasehold improvements $ 9,497,000 $ 9,072,000 $ 8,580,000

Work in progress $ 8,576,000 $ 9,234,000 $ 6,362,000

Furniture, vehicles & other plant, property & equipment $ 10,940,000 $ 10,227,000 $ 9,509,000

Property, plant & equipment $ 279,737,000 $ 265,734,000 $ 252,835,000

Less accumulated depreciation $ 184,904,000 $ 173,819,000 $ 163,549,000

Property, plant & equipment, net $ 94,833,000 $ 91,915,000 $ 89,286,000

Investments in unconsolidated businesses $ 589,000 $ 558,000 $ 671,000

Wireless licenses $ 96,097,000 $ 95,059,000 $ 94,130,000

Goodwill $ 24,773,000 $ 24,389,000 $ 24,614,000

Other intangible assets, net $ 9,413,000 $ 9,498,000 $ 9,775,000

Operating lease right-of-use assets $ 22,531,000 $ 22,694,000 –

Other assets $ 13,651,000 $ 10,141,000 $ 11,717,000

Total assets $ 316,481,000 $ 291,727,000 $ 264,829,000

Debt maturing within one year $ 5,889,000 $ 10,777,000 $ 7,190,000

Accounts payable $ 6,667,000 $ 7,725,000 $ 7,232,000

Accrued expenses $ 6,050,000 $ 5,984,000 $ 5,948,000

Accrued vacation, salaries & wages $ 5,057,000 $ 4,885,000 $ 6,268,000

Interest payable $ 1,452,000 $ 1,441,000 $ 1,570,000

Taxes payable $ 1,432,000 $ 1,771,000 $ 1,483,000

Accounts payable & accrued liabilities $ 20,658,000 $ 21,806,000 $ 22,501,000

Current operating lease liabilities $ 3,485,000 $ 3,261,000 –

Dividends payable $ 2,618,000 $ 2,566,000 $ 2,512,000

Contract liability $ 4,843,000 $ 4,651,000 $ 4,207,000

Other current liabilities $ 2,167,000 $ 1,807,000 $ 1,520,000

Other current liabilities $ 9,628,000 $ 9,024,000 $ 8,239,000

Total current liabilities $ 39,660,000 $ 44,868,000 $ 37,930,000

Notes payable & other long-term debt – – $ 107,272,000

Verizon Communications $ 122,236,000 $ 101,699,000 –

Alltel Corporation $ 96,000 $ 96,000 –

Assumed notes – – $ 234,000

Debentures $ 766,000 $ 766,000 $ 796,000

Notes payable, debentures & other long-term debt – – $ 444,000

GTE LLC $ 391,000 $ 391,000 –

Asset-backed debt $ 10,630,000 $ 12,393,000 $ 10,101,000

Finance lease obligations $ 1,284,000 $ 1,116,000 $ 905,000

Unamortized discount, net of premium $ (6,057,000) $ (4,480,000) $ (6,298,000)

Unamortized debt issuance costs $ (604,000) $ (492,000) $ (541,000)

Long-term debt, including current maturities $ 128,742,000 $ 111,489,000 $ 112,913,000

Less: long-term debt maturing within one year $ 5,569,000 $ 10,777,000 $ 7,040,000

Long-term debt $ 123,173,000 $ 100,712,000 $ 105,873,000

Employee benefit obligations $ 18,657,000 $ 17,952,000 $ 18,599,000

Deferred income taxes $ 35,711,000 $ 34,703,000 $ 33,795,000

Non-current operating lease liabilities $ 18,000,000 $ 18,393,000 –

Other liabilities $ 12,008,000 $ 12,264,000 $ 13,922,000

Total long-term liabilities $ 207,549,000 $ 184,024,000 $ 172,189,000

Common stock $ 429,000 $ 429,000 $ 429,000

Additional paid in capital $ 13,404,000 $ 13,419,000 $ 13,437,000

Retained earnings (accumulated deficit) $ 60,464,000 $ 53,147,000 $ 43,542,000

Foreign currency translation adjustments $ (404,000) $ (584,000) $ (600,000)

Unrealized gain (loss) on cash flow hedges $ (1,387,000) $ (816,000) $ (80,000)

Unrealized gain (loss) on marketable securities $ 25,000 $ 27,000 $ 20,000

Defined benefit pension & postretirement plans $ 1,695,000 $ 2,371,000 $ 3,030,000

Accumulated other comprehensive income (loss) $ (71,000) $ 998,000 $ 2,370,000

Common stock in treasury $ 6,719,000 $ 6,820,000 $ 6,986,000

Deferred compensation – employee stock ownership plans & other $ (335,000) $ (222,000) $ (353,000)

Noncontrolling interests $ 1,430,000 $ 1,440,000 $ 1,565,000

Total equity $ 69,272,000 $ 62,835,000 $ 54,710,000

Cash Flows

Exchange rate used is that of the Year End reported date

As Reported Annual Cash Flow

Report Date 12/31/2020 12/31/2019 12/31/2018

Currency USD USD USD

Audit Status Not Qualified Not Qualified Not Qualified

Consolidated Yes Yes Yes

Scale Thousands Thousands Thousands

Net income (loss) $ 18,348,000 $ 19,788,000 $ 16,039,000

Depreciation & amortization expense $ 16,720,000 $ 16,682,000 $ 17,403,000

Employee retirement benefits $ 840,000 $ (284,000) $ (2,657,000)

Deferred income taxes $ 1,553,000 $ 1,232,000 $ 389,000

Provision for uncollectible accounts – $ 1,588,000 $ 980,000

Provision for expected credit losses $ 1,380,000 – –

Equity in losses (earnings) of unconsolidated businesses, net of dividends received $ 91,000 $ 74,000 $ 231,000

Oath goodwill impairment – $ 186,000 $ 4,591,000

Accounts receivable $ 189,000 $ (1,471,000) $ (2,667,000)

Inventories $ (369,000) $ (76,000) $ (324,000)

Prepaid expenses & other assets $ 1,202,000 $ (2,807,000) $ 37,000

Accounts payable & accrued liabilities & other current liabilities $ (966,000) $ (2,359,000) $ 1,777,000

Discretionary employee benefits contributions – $ (300,000) $ (1,679,000)

Net loss (gain) on sale of divested businesses – $ 94,000 –

Other operating activities, net $ 2,780,000 $ 3,399,000 $ 219,000

Net cash flows from operating activities $ 41,768,000 $ 35,746,000 $ 34,339,000

Capital expenditures (including capitalized software) $ (18,192,000) $ (17,939,000) $ (16,658,000)

Acquisitions of investments & businesses, net of cash acquired – $ (29,000) $ (230,000)

Acquisitions of businesses, net of cash acquired $ (520,000) – –

Acquisitions of wireless licenses $ (2,126,000) $ (898,000) $ (1,429,000)

Proceeds from disposition of businesses – $ 28,000 –

Other investing activities, net $ (2,674,000) $ 1,257,000 $ 383,000

Net cash flows from investing activities $ (23,512,000) $ (17,581,000) $ (17,934,000)

Proceeds from long-term borrowings $ 25,822,000 $ 10,079,000 $ 5,967,000

Proceeds from asset-backed long-term borrowings $ 5,635,000 $ 8,576,000 $ 4,810,000

Repayments of long-term borrowings & capital lease obligations – $ (17,584,000) $ (10,923,000)

Repayments of long term borrowings & finance lease obligations $ (9,775,000) – –

Repayments of asset-backed long-term borrowings $ (7,413,000) $ (6,302,000) $ (3,635,000)

Dividends paid $ (10,232,000) $ (10,016,000) $ (9,772,000)

Other financing activities, net $ (2,712,000) $ (2,917,000) $ (1,824,000)

Net cash flows from financing activities $ 1,325,000 $ (18,164,000) $ (15,377,000)

Increase (decrease) in cash, cash equivalents & restricted cash $ 19,581,000 $ 1,000 $ 1,028,000

Cash, cash equivalents & restricted cash, beginning of period $ 3,917,000 $ 3,916,000 $ 2,888,000

Cash, cash equivalents & restricted cash, end of period $ 23,498,000 $ 3,917,000 $ 3,916,000

Cash paid for income taxes, net of amounts refunded $ 2,725,000 $ 3,583,000 $ 2,213,000

Cash paid for interest, net of amounts capitalized $ 4,420,000 $ 4,714,000 $ 4,408,000

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