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.

Verizon Communications Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	12,095)	21,748)	22,618)	18,348)	19,788)
Depreciation and amortization expense	17,624)	17,099)	16,206)	16,720)	16,682)
Employee retirement benefits	1,206)	(2,046)	(3,391)	840)	(284)
Deferred income taxes	2,388)	2,973)	4,264)	1,553)	1,232)
Provision for expected credit losses	2,214)	1,611)	789)	1,380)	1,588)
Equity in (earnings) losses of unconsolidated businesses, net of dividends received	84)	(10)	36)	91)	74)
Verizon Business Group goodwill impairment	5,841)	—)	—)	—)	—)
Media goodwill impairment	—)	—)	—)	—)	186)
Accounts receivable	(2,198)	(1,978)	(1,592)	189)	(1,471)
Inventories	287)	627)	(905)	(369)	(76)
Prepaid expenses and other	(435)	928)	150)	1,202)	(2,807)
Accounts payable and accrued liabilities and Other current liabilities	2,079)	(33)	1,457)	(966)	(2,359)
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses	(267)	(456)	(890)	56)	(6,713)
Discretionary employee benefits contributions	—)	—)	—)	—)	(300)
Changes in device payment plan agreement non-current receivables	(2,975)	(4,919)	(2,438)	558)	23)
Net debt extinguishment (gains) losses	(308)	1,077)	3,541)	129)	3,604)
Loss on spectrum licenses	—)	—)	223)	1,195)	—)
Gain on disposition of Media business	—)	—)	(1,051)	—)	—)
Other, net	(427)	64)	(368)	898)	(134)
Other, net	(3,710)	(3,778)	(93)	2,780)	3,493)
Adjustments to reconcile net income to net cash provided by operating activities	25,380)	15,393)	16,921)	23,420)	15,958)
Net cash provided by operating activities	37,475)	37,141)	39,539)	41,768)	35,746)
Capital expenditures, including capitalized software	(18,767)	(23,087)	(20,286)	(18,192)	(17,939)
Cash (paid) received related to acquisitions of businesses, net of cash acquired	(30)	248)	(4,065)	(520)	(29)
Acquisitions of wireless licenses	(5,796)	(3,653)	(47,596)	(2,126)	(898)
Collateral (payments) receipts related to derivative contracts, net	880)	(2,265)	(21)	—)	—)
Proceeds from disposition of business	—)	33)	4,122)	—)	28)
Other, net	281)	62)	693)	(2,674)	1,257)
Net cash used in investing activities	(23,432)	(28,662)	(67,153)	(23,512)	(17,581)
Proceeds from long-term borrowings	2,018)	7,074)	33,034)	25,822)	10,079)
Proceeds from asset-backed long-term borrowings	6,594)	10,732)	8,383)	5,635)	8,576)
Net proceeds from (repayments of) short-term commercial paper	(150)	106)	—)	(9)	—)
Repayments of long-term borrowings and finance lease obligations	(6,181)	(8,616)	(14,063)	(9,775)	(17,584)
Repayments of asset-backed long-term borrowings	(4,443)	(4,948)	(4,800)	(7,413)	(6,302)
Dividends paid	(11,025)	(10,805)	(10,445)	(10,232)	(10,016)
Net debt related costs	(73)	(366)	(2,309)	(1,055)	(1,797)
Other, net	(1,397)	(1,706)	(1,523)	(1,648)	(1,120)
Other, net	(1,470)	(2,072)	(3,832)	(2,703)	(2,917)
Net cash provided by (used in) financing activities	(14,657)	(8,529)	8,277)	1,325)	(18,164)
Increase (decrease) in cash, cash equivalents and restricted cash	(614)	(50)	(19,337)	19,581)	1)
Cash, cash equivalents and restricted cash, beginning of period	4,111)	4,161)	23,498)	3,917)	3,916)
Cash, cash equivalents and restricted cash, end of period	3,497)	4,111)	4,161)	23,498)	3,917)

Based on: 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), 10-K (reporting date: 2019-12-31).

Download chart

Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Verizon Communications Inc. net cash provided by operating activities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Verizon Communications Inc. net cash used in investing activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Verizon Communications Inc. net cash provided by (used in) financing activities decreased from 2021 to 2022 and from 2022 to 2023.

Verizon Communications Inc. (NYSE:VZ)

Cash Flow Statement