7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-09-30 2019-06-30 2019-03-31 
      
    		                          
      cash flows from operating activities
    		                          
      net income
    		5,056,000,000 5,121,000,000 4,983,000,000 5,114,000,000 3,411,000,000 4,702,000,000 4,722,000,000 -2,573,000,000 4,884,000,000 4,766,000,000 5,018,000,000 6,698,000,000 5,024,000,000 5,315,000,000 4,711,000,000 4,737,000,000 6,554,000,000 5,949,000,000 5,378,000,000 4,718,000,000 4,504,000,000 4,839,000,000 4,287,000,000 5,337,000,000 4,074,000,000 5,160,000,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                          
      depreciation and amortization expense
    		4,618,000,000 4,635,000,000 4,577,000,000 4,506,000,000 4,458,000,000 4,483,000,000 4,445,000,000 4,516,000,000 4,431,000,000 4,359,000,000 4,318,000,000 4,218,000,000 4,324,000,000 4,321,000,000 4,236,000,000 4,051,000,000 3,961,000,000 4,020,000,000 4,174,000,000 4,197,000,000 4,192,000,000 4,181,000,000 4,150,000,000 4,114,000,000 4,232,000,000 4,231,000,000 
      employee retirement benefits
    		113,000,000 188,000,000 143,000,000 -521,000,000 115,000,000 292,000,000 62,000,000 1,045,000,000 53,000,000 54,000,000 54,000,000 -2,525,000,000 600,000,000 89,000,000 -210,000,000 -1,463,000,000 -109,000,000 -1,566,000,000 -253,000,000 -27,000,000 899,000,000      
      deferred income taxes
    		1,714,000,000 -37,000,000 132,000,000 568,000,000 -35,000,000 141,000,000 141,000,000 1,566,000,000 189,000,000 302,000,000 331,000,000 1,378,000,000 81,000,000 887,000,000 627,000,000 1,294,000,000 992,000,000 1,216,000,000 762,000,000 1,023,000,000 650,000,000   482,000,000 129,000,000 459,000,000 
      benefit from expected credit losses
    		478,000,000 548,000,000 587,000,000 715,000,000 504,000,000 552,000,000 567,000,000 618,000,000 535,000,000 531,000,000 530,000,000 563,000,000 383,000,000 337,000,000 328,000,000 185,000,000 195,000,000 185,000,000 224,000,000 280,000,000 269,000,000      
      equity in losses of unconsolidated businesses, inclusive of dividends received
    		12,000,000 9,000,000 20,000,000  29,000,000                      
      changes in current assets and liabilities, net of effects from acquisition/disposition of businesses
    		-736,000,000 -700,000,000 -2,618,000,000  963,000,000 -1,041,000,000 -2,531,000,000  1,592,000,000 154,000,000 -774,000,000  1,501,000,000 1,533,000,000 -3,492,000,000  521,000,000 123,000,000 -41,000,000  -1,952,000,000      
      other
    		11,000,000 -789,000,000 -42,000,000 -294,000,000 466,000,000 337,000,000 -336,000,000 -1,112,000,000 -926,000,000 -474,000,000 -1,198,000,000 -1,395,000,000 -1,384,000,000 -1,613,000,000 614,000,000 1,062,000,000 -1,397,000,000 811,000,000 -569,000,000 370,000,000 337,000,000 969,000,000 1,104,000,000 -402,000,000 1,862,000,000 88,000,000 
      net cash from operating activities
    		11,266,000,000 8,975,000,000 7,782,000,000 10,432,000,000 9,911,000,000 9,485,000,000 7,084,000,000 8,677,000,000 10,778,000,000 9,731,000,000 8,289,000,000 8,942,000,000 10,534,000,000 10,844,000,000 6,821,000,000 8,377,000,000 10,724,000,000 10,744,000,000 9,694,000,000 9,296,000,000 8,920,000,000 14,728,000,000 8,824,000,000 10,912,000,000 8,755,000,000 7,081,000,000 
      cash flows from investing activities
    		                          
      capital expenditures
    		-4,310,000,000 -3,808,000,000 -4,145,000,000 -5,071,000,000 -3,948,000,000 -3,695,000,000 -4,376,000,000 -4,603,000,000 -4,094,000,000 -4,112,000,000 -5,958,000,000 -7,276,000,000 -5,320,000,000 -4,670,000,000 -5,821,000,000 -6,425,000,000 -5,145,000,000 -4,222,000,000 -4,494,000,000 -4,024,000,000 -4,318,000,000      
      free cash flows
    		6,956,000,000 5,167,000,000 3,637,000,000 5,361,000,000 5,963,000,000 5,790,000,000 2,708,000,000 4,074,000,000 6,684,000,000 5,619,000,000 2,331,000,000 1,666,000,000 5,214,000,000 6,174,000,000 1,000,000,000 1,952,000,000 5,579,000,000 6,522,000,000 5,200,000,000 5,272,000,000 4,602,000,000      
      acquisitions of wireless licenses
    		-106,000,000 -112,000,000 -122,000,000 -132,000,000 -155,000,000 -164,000,000 -449,000,000 -3,937,000,000 -774,000,000 -487,000,000 -598,000,000 -763,000,000 -615,000,000 -437,000,000 -1,838,000,000 -569,000,000 -1,749,000,000 -495,000,000 -44,783,000,000 -139,000,000 -186,000,000      
      net cash from investing activities
    		-4,490,000,000 -3,438,000,000 -3,752,000,000 -5,561,000,000 -4,003,000,000 -3,865,000,000 -5,245,000,000 -7,824,000,000 -5,408,000,000 -4,090,000,000 -6,110,000,000 -5,342,000,000 -8,664,000,000 -6,661,000,000 -7,995,000,000 -10,135,000,000 -2,617,000,000 -4,748,000,000 -49,653,000,000 -5,043,000,000 -6,345,000,000      
      cash flows from financing activities
    		                          
      proceeds from long-term borrowings
    		2,276,000,000   4,000,000 20,000,000 12,000,000 3,110,000,000 19,000,000 496,000,000 999,000,000 504,000,000 2,469,000,000 988,000,000 13,000,000 3,604,000,000 552,000,000 1,038,000,000 61,000,000 31,383,000,000 13,435,000,000 3,082,000,000 3,457,000,000 5,848,000,000 2,123,000,000 4,106,000,000 2,131,000,000 
      proceeds from asset-backed long-term borrowings
    		2,378,000,000 2,181,000,000 2,781,000,000 4,193,000,000 2,401,000,000 3,318,000,000 2,510,000,000 1,938,000,000 951,000,000 1,951,000,000 1,754,000,000 4,793,000,000 886,000,000 1,508,000,000 3,545,000,000 5,688,000,000 0 1,695,000,000 1,000,000,000 1,196,000,000 1,595,000,000 0 2,844,000,000 0 2,865,000,000 1,117,000,000 
      repayments of long-term borrowings and finance lease obligations
    		-1,999,000,000 -3,084,000,000 -2,446,000,000 -5,231,000,000 -904,000,000 -1,211,000,000 -4,508,000,000 -613,000,000 -2,968,000,000 -1,275,000,000 -1,325,000,000 -615,000,000 -596,000,000 -849,000,000 -6,556,000,000 -6,159,000,000 -345,000,000 -7,257,000,000 -302,000,000 -922,000,000 -320,000,000      
      repayments of asset-backed long-term borrowings
    		-1,925,000,000 -1,923,000,000 -2,589,000,000 -2,332,000,000 -2,150,000,000 -2,600,000,000 -1,408,000,000 -714,000,000 -1,346,000,000 -1,452,000,000 -931,000,000 -1,301,000,000 -952,000,000 -1,045,000,000 -1,650,000,000 -913,000,000 -894,000,000 -2,261,000,000 -732,000,000 -687,000,000 -2,114,000,000      
      dividends paid
    		-2,857,000,000 -2,856,000,000 -2,856,000,000 -2,850,000,000 -2,801,000,000 -2,802,000,000 -2,796,000,000 -2,794,000,000 -2,744,000,000 -2,743,000,000 -2,744,000,000 -2,739,000,000 -2,688,000,000 -2,724,000,000 -2,654,000,000 -2,648,000,000 -2,599,000,000 -2,597,000,000 -2,601,000,000 -2,596,000,000 -2,546,000,000      
      net cash from financing activities
    		-2,551,000,000 -4,378,000,000 -5,893,000,000 -5,623,000,000 -4,415,000,000 -5,634,000,000 -1,428,000,000 -3,016,000,000 -6,055,000,000 -3,203,000,000 -2,383,000,000 -3,076,000,000 -1,616,000,000 -4,082,000,000 245,000,000 -5,192,000,000 -3,081,000,000 -11,406,000,000 27,956,000,000 9,062,000,000 -1,505,000,000 -8,795,000,000 2,563,000,000    
      increase in cash, cash equivalents and restricted cash
    		4,225,000,000 1,159,000,000 -1,863,000,000 -752,000,000 1,493,000,000 -14,000,000 411,000,000  -685,000,000       -6,950,000,000 5,026,000,000 -5,410,000,000 -12,003,000,000 13,315,000,000 1,070,000,000 789,000,000 4,407,000,000    
      cash, cash equivalents and restricted cash, beginning of period
    		0 0 4,635,000,000 0 0 0 3,497,000,000 0 0 0 4,111,000,000 0 0 0 4,161,000,000 0 0 0 23,498,000,000 0 0 0 3,917,000,000 0 0 3,916,000,000 
      cash, cash equivalents and restricted cash, end of period
    		4,225,000,000 1,159,000,000 2,772,000,000 -752,000,000 1,493,000,000 -14,000,000 3,908,000,000 -2,163,000,000 -685,000,000 2,438,000,000 3,907,000,000 524,000,000 254,000,000 101,000,000 3,232,000,000 -6,950,000,000 5,026,000,000 -5,410,000,000 11,495,000,000 13,315,000,000 1,070,000,000 789,000,000 8,324,000,000 1,086,000,000 -417,000,000 3,537,000,000 
      equity in losses (earnings) of unconsolidated businesses, net of dividends received
    		       15,000,000 20,000,000   3,000,000 5,000,000              
      verizon business group goodwill impairment
    		                          
      changes in current assets and liabilities, net of effects from acquisition/disposition of businesses:
    		                          
      accounts receivable
    		                          
      inventories
    		                          
      prepaid expenses and other
    		                          
      accounts payable and accrued liabilities and other current liabilities
    		                          
      cash received (paid) related to acquisitions of businesses, net of cash acquired
    		           0 1,000,000              
      collateral receipts (payments) related to derivative contracts
    		   -380,000,000 92,000,000 8,000,000 -432,000,000 718,000,000 -662,000,000                  
      proceeds from disposition of business
    		           0               
      net proceeds from (repayments of) short-term commercial paper
    		                          
      net proceeds from short-term commercial paper
    		      2,347,000,000    342,000,000                
      equity in losses of unconsolidated businesses, net of dividends received
    		      14,000,000    10,000,000    7,000,000 4,000,000 7,000,000 6,000,000 19,000,000 24,000,000 21,000,000 20,000,000 26,000,000 14,000,000 29,000,000 21,000,000 
      decrease in cash, cash equivalents and restricted cash
    		          -204,000,000  254,000,000 101,000,000 -929,000,000            
      cash received related to acquisitions of businesses
    		                          
      collateral repayments (payments) related to derivative contracts
    		          367,000,000                
      collateral payments related to derivative contracts, net of repayments
    		           2,592,000,000               
      acquisitions of businesses, net of cash acquired
    		               -3,606,000,000 -1,000,000 -50,000,000 -408,000,000 -13,000,000 -108,000,000      
      media goodwill impairment
    		                          
      discretionary employee benefits contributions
    		                          
      proceeds from dispositions of businesses
    		                          
      net income on sale of divested businesses
    		                          
      benefit from uncollectible accounts
    		                      553,000,000 393,000,000 419,000,000 319,000,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.