Your team has been hired by a multi-national conglomerate to assess two US public companies within the same industry. Your analysis will be used to decide on a major investment in one of the companies. Use the financial statements provided and any other data you wish to collect. For market performance analysis purposes use the stock market data at close of day on the last day of the period for the financial statements. If the stock market was not open on the last day of the period, use the most recent day prior to financial statement date.

Prepare Ratios that Assess Profitability and Market Performance:

Use the stock market data from the last day of the financial statements or if the market was closed on the last day of the accounting period, use the most recent day preceding the end of the period.

3. Assess the companys stock market performance. For both this year and last year, compute:

a. The earnings per share.

b. The dividend yield ratio.

c. The dividend payout ratio.

d. The price-earnings ratio.

e. The book value per share of common stock.

4. Assess the companys profitability. Compute the following for both this year and last year:

a. The net profit margin percentage.

b. The return on total assets.

c. The return on equity.

d. Is the companys financial leverage positive or negative?

12 Months Ended Dec 31, 2019 Jan 31, 2020 Cover Page - USD (S) Document Information Line Items Document Type Document Annual Report Document Period End Date Document Transition Report Entity File Number Entity Registrant Name Entity Incorporation, State or Country Code Entity Tax Identification Number Entity Address, Address Line One Entity Address, City or Town Entity Address, State or Province Entity Address, Postal Zip Code City Area Code Local Phone Number Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Interactive Data Current Entity Filer Category Entity Small Business Entity Emerging Growth Company Entity Shell Company Entity Public Float Entity Common Stock, Shares Outstanding Documents Incorporated by Reference 10-K true Dec. 31. 2019 false 1-8606 Verizon Communications Inc. DE 23-2259884 1095 Avenue of the Americas New York NY 10036 212 345. AKID Yes No Yes Yes Large Accelerated Filer false false false 4.135.863,778 Entity Central Index Key Current Fiscal Year End Date Document Fiscal Year Focus Document Fiscal Period Focus Amendment Flar Portions of the registrant's Annual Report to Shareholders for the year ended December 31, 2019 (Part 1 and I). Portions of the registrant's definitive Proxy Statement to be delivered to shareholders in connection with the registrant 2020 Annual Meeting of Shurcholders (Part III). 0000732712 --12-31 2019 FY false 12 Months Ended Dec. 31, 2018 Dec. 31. 2019 Dec. 31, 2017 S 19.788 $ 16,019 $ 30,550 245 (31) Consolidated Statements of Comprehensive Income - USD (S) Sin Millions Statement of Comprehensive Income Abstract Net Income Other Comprehensive Loss, Net of Tax (Expense) Benefit Foreign currency translation adjustments, net of tax of 821), (11) and 530 Unrealized grain (loss) on cash flow hedges, net of tax of $265. S(19) and 520 Unrealized gain (loss) on marketable securities, net of tax of $(2) S0 and SIO Defined benefit pension and postretirement plans, net of tax of S219, 8284 and S144 Other comprehensive loss attributable to Verizon Total Comprehensive Income Comprehensive income attributable to noncontrolling interests Comprehensive income attributable to Verizon Total comprehensive income (214) 16 (736) 7 1659) (1.372) 18,416 523 17,893 S18,416 (117) 55 1 (858) {919) 15,120 511 14,609 $ 15.120 (14) 30.536 449 30,087 $ 30,536 Consolidated Statements of Cash Flows - USD (S) Sin Millions 12 Months Ended Dec 31, 2018 Dec. 31. 2019 Dec. 31, 2017 $19,788 $ 16,039 5 30,550 16,682 (284) 1.232 1.588 74 94 17.403 (2.657) 389 980 231 0 4.591 16,954 440 (14.463 1.167 117 (1.774) 0 186 11,471) (76) (2.807) (2,359) 1300 3.399 35,746 (2.667) (324) 37 1,777 (1.679) 219 34,339 (5.674) 168 27 (459) 13,411) 676 24,318 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization expense Employee retirement benefits Deferred income taxes Provision for uncollectible accounts Equity in losses of unconsolidated businesses, net of dividends received Net loss (gain) on sale of divested businesses Media 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 Discretionary employee benefits contributions Othernet Net cash provided by operating activities Cash Flows from Investing Activities Capital expenditures including capitalized software) Acquisitions of businesses, net of cash acquired Acquisitions of wireless licenses Proceeds from dispositions of businesses Othernet Net cash used in investing activities Cash Flows from Financing Activities Proceeds from long-term borrowings Proceeds from asset-backed long-term borrowings Repayments of long-term borrowings and finance lease obligations Repayments of asset-backed long-term borowings Dividends paid Othernet Net cash used in financing activities Increase (decrease in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash, beginning of period Cash, cash equivalents and restricted cash, end of period (17.939) (29) 1898) 28 1.257 (17.581) (16,658) (230) (1.429) 0 383 (17.934) (17.247) (5.880) (583) 3,614 1.640 418.456) 10,079 8,576 (17.584) 16,302) (10,016) 42.917) (18,164) 1 3,916 $ 3.917 5,967 4.810 (10.923) 13,635) (9.772) (1.824) 15,377) 1,028 2.888 $ 3.916 27,707 4,290 123.837) (400) (9.472) (4.439) (6,151) (289) 3.177 $ 2,888 12 Months Ended Dec. 31, 2018 Dec 31, 2019 Dec. 31, 2017 Consolidated Statements of Comprehensive Income (Parenthetical)- USD (5) Sin Millions Statement of Comprehensive Income Abstract Foreign currency translation adjustments, tax Unrealized gain (loss) on cash flow hedges, tax Unrealized gain (loss) on marketable securities, tax Defined benefit pension and postretirement plans, tax $(21) 265 (2) $ 219 $(11) (19) 0 $ 284 S 30 20 10 S 144 Dec 31, 2019 Dec 31, 2018 Ave Ants Receivable Average Total Assets Average Stockholder Equity Consolidated Balance Sheets - USD (5) Sin Millions Current aus Cash and cash equivalente Accounts receivable, net of allowances of 5733 and 5765 Inventaries Prepaid expenses and other Total current Property, plant and equipment Las accurated depreciation Property, plant and equipment, et Investments in unconsolidated businesses Wireless license Goodwill $2.594 25.429 1.422 8.028 37,473 265,714 173,819 91.915 55N 95,039 14.389 $ 2,745 25.102 1.116 5,453 34,636 252,15 163,549 89.286 671 9,130 24,614 Working Captial Current Ratio: Acid-Test Ratio Accounts Receivable Turnover: Average Collection Period e. The total asset tumover f. The debt-to-equity ratio 9. The times interest earned rati h The equity multiplier 9.775 9498 12.694 10.141 291.727 11.717 7,190 22.501 Other intangible assets, net Operating lease right-of-seases Other det Talas Current liabilities Debt maturing within one year Accounts payable and accrued liabilities Current operating are liabilities Other current liabilities Total current liabilities Long-ter debt Employee benefit obligations Deferred income taxes Non current operating loan abilities Other liabilities Total long-term liabilities Comments and Contingencies (Note 16) Equity Series preferred stock (80.10 par value: 250,000,000 shares authorized: none issued Common stock $0.10 par value 6.250,000,000 shares authorized in cach period; 4.291,433,646 issued in each period Additional paid in capital Retained earnings Accumulated other comprehensive income Common stock in treasury, it cost (155.665,527 and 159.400,267 shares outstanding) Deferred compensation - employee stock ownership plans and other Nuncontrolling interests Total equity Total liabilities and equity 10,777 21.00 3.261 9,024 44.86 100.212 17.952 14,700 18393 12.264 184,024 8.219 37,450 105,173 18,599 33,795 13,922 172.189 0 429 0 429 13.419 51.147 998 16.200 13.437 43.542 2.370 6,986) 22 150 1.440 62.835 $.291.727 1.565 54,710 $ 264,829 Dec 31, 2019 Dec 31, 2018 Consolidated Balance Sheets (Parenthetical) - USD (S) Sin Millions Statement of Financial Position (Abstract Accounts receivable, allowances Series preferred stock, par value (in USD per share) Series preferred stock, shares authorized (in shares) Series preferred stock, sbares issued in shares) Common stock, par value (in USD per share) Common stock, shares authorized (in shares) Common stock, shares issued in shares) Treasury stock, shares outstanding (in shares) $ 733 S0.1 250.000.000 D S01 6,250,000,000 4.291.433,646 155,605,527 $ 765 5.0.1 250,000,000 0 50.1 6,250,00X1.000 4,291,433.646 159,40X1267