Hasit {` Format Painter Clipboard Font Common stock ( 50 . 10 par value ; 6 , 250, A 31 \Current assets [ash and cash equivalents\ $ 2.745 $ 2.0179 Accounts receivable . net of allowances of $ 765 and $:9:39 25, 1012 23.493 1. 1 134 Inventory 1. 3.36 7\ Prepaid expenses and other 5. 453 3.3017 8\ Total current assets 34. 6:36 29.973 \Property . plant and equipment 252, 8:35 246. 495 101\ Less accumulated depreciation TE 3. 5:49 157.930 17\ Property , plant and equipment . net B.B. 28 6 12 Investments in unconsolidated businesses 1 . 1 1:34 13\ Wireless licenses 94, 130 3.5. 417 14\ Goodwill* 24. 614 24. 172 15\ [ther intangible assets . net 9. 7 75 10. 247 TE\ [ther assets 9 787 17\ Total assets 26. 4. 829 257.143 18\ [urrent liabilities 19\ Debt maturing within one year 7. 1917 3.453 201| Accounts payable and accrued liabilities* 32.5 1 17 27. 232\ 21\ [ther current liabilities* 5. 2:34 8.35 2 22\ Total current liabilities 37. 9397 32. 2137 23\ Long-term debit* 195. 873 173. 6:4 2\ 24 Employee benefit obligations* 15.594 22. 172 25\ Deferred income taxes 23. 795 \31. 232 25\ Other liabilities* 13. 92 2 12.433 27\ Total long-term liabilities* 172. 109 179. 419 28\ [commitments and Contingencies [ Hate 15] 29 \Equity\ SERIES preferred stock |{'LL TO Far value 25\] LUV shares` 30 / -Authorized : name issued! !` Common stock [.IJ. TO Far value . EZE` Dog, and shares` authorized in each , period : 4 . 251.433.546 and 4. 242. 37 4. 240 \shares issued! 424 424 32| Additional paid in capital 17. 107 3.3\ Fietained earnings* 13.437 4.3.542 35.6:35 34| Accumulated other comprehensive income* Lommon stock in treasury , at cost | 75:4. ALILT Zkit and 2.370 2.659 35 \TEZ. B.9 7 . BEB shares outstanding!* Deferred compensation - Employee stock ownership Flats - 6. 98 6 7. 139 BE and other 37\ Noncontrolling interest \35 3 $ 16 35\ Total equity 1.56.5 1.591 3.9\ Total liabilities and Equity* 5.4 710 4 4.68 7 Sheet] 264. 829 257. 143 ( +)File Home Insert Draw Page Layout X Cut Calibri - 11 - A" A ab Wra Paste Copy Format Painter BIU - - L - A Mer Clipboard Font Alignment D36 fx D 47 Income Statement: VZ Consolidated Statement of Income - USD ($) shares in 48 Millions, $ in Millions 12 Months End 12 Months End 12 Months End 49 Dec. 31, 2018 Dec. 31, 2018 Dec. 31, 2016 50 Operating Revenues 51 Operating Revenues 30,863 126,034 125,980 52 Operating Expenses 53 Selling, general and administrative expense (including net 31,083 28,592 28,102 54 55 56 Depreciation and amortization expense 17,403 16,954 15,928 57 Oath goodwill impairment 4,591 0 0 58 Total Operating Expenses 108,585 98,609 96,731 59 Operating Income 22,278 27,425 29,249 60 Equity in losses of unconslidated businesses -186 -77 -98 61 Other income (expense), net 2,364 2,021 3,789 62 Interest expense 4,833 4,733 -4,376 63 |Income Before ( Provision) Benefit For Income Taxes 19,623 20,594 20,986 64 (Provision) benefit for income taxes -3,584 9,956 -7,378 65 Net income 16,039 30,550 13,608 66 Net income attributable to nocontrolling interests 511 449 481 67 Net income attributable to Verizon 15,528 30,101 13,127 68 Net Income S 16,039 $ 30,550 $ 13,608 69 Basic Earnings Per Common Share Basic Earnings Per Share Attributable to Verizon ( in USD per 70 share) S 3.76 $ 7.37 S 3.22 71 72 Basic, Weighted-average shares outstanding ( in shares) 4,128 4,084 4,080 73 Diluted Earnings Per Common Share Diluted, Net income attributable to Verizon (in USD per 74 share) 3.76 $ 7.36 S 3.21 75 76 Diluted, Weighted-average shares outstanding (in shares) 4,132 4,089 4,086 77 Service and Other 78 Operating Revenues 79 Operating Revenues 108,605 $ 107,145 $ 108,468 80 Service 81 Operating Expenses 32 Cost of services and equipment 32, 185 30,916 30,463 $3 Equipment 84 Operating Revenues 85 Operating Revenues 22,258 18,889 17,512 Operating Expenses 87 Cost of services and equipment S 23,323 $ 22, 147 $ 22,238 Sheet1 ReadyAlignment Number G H Statement of Cash Flows: VZ Consolidated Statements of Cash Flows - USD ($) $ in Millions 12 Months En 12 Months Em Month Dec. 31, 2018 Dec. 31, 2017 Dec. 31. 2016 Cash Flows from Operating Activites Net Income 16,039 30,550 $ 13,608 Adjustment to reconcile net income to net cash Depreciation and amortization expense 17,403 16,954 15,928 Employee retirement benefits -2.657 $40 2,705 Deferred income taxes 389 14,463 -1,603 Provision for uncollectible accounts 980 1,420 Equity in losses of unconsolidated businesses, net of dividends received 231 117 138 Net gain on sale of divested businesses 1,774 1,007 Oath goodwill impairment 1,591 Changes in current assets and liabilities. net of effects from acquistion/dispostion of businesses Accounts receivable 2,667 -5,674 5,067 Inventories 324 168 61 Prepaird expenses and other 37 27 660 Accounts payable and accrued liabilities and Other current ,777 459 1,089 Discretionary employee benefits contributions -1,679 3,411 -186 219 676 660'S- Other, net Net cash provided by operating activities 34.339 24,318 21,689 Cash Flows from Investing Activities Capital expenditures (including capitalized software) -16,658 17.247 -17.059 Acquistions of businesses, net of cash acquired -230 5,880 3,765 Acquistions of wireless licenses -1,429 583 -534 Proceeds from dispostions of businesses 3,61 9,882 Other, net 383 1,640 1,602 Net cash used in investing activities 17.934 -18.456 -9.874 Cash Flows from Financing Activities Proceeds from long-term borrowings 5,967 27.707 12,964 Proceeds from asset-backed long-term borrowings .810 1.290 4.986 Repayments of long-term borrowings and capital lease obligations -10.923 23.837 -19.159 Repayments of asset-backed long-term borrowings -3,635 -400 Dividends paid -9,772 -9.472 -9,262 Other, net -1,824 -4.439 -2,905 Net cash used in financing activities -15.377 -6,151 -13.376 Increase (decrease) in cash, cash equivalents and restricted 1,028 -289 -1.561 Cash, cash equivalents and restricted cash, beginning of period 2.888 3. 17 7 4.708 Cash, cash equivalents and restricted cash, end of period (Note 3.816 $ 2.888 $ 3.177
