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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net Income $ 12,095 $ 21,748 $ 22,618
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 17,624 17,099 16,206
Employee retirement benefits 1,206 (2,046) (3,391)
Deferred income taxes 2,388 2,973 4,264
Provision for expected credit losses 2,214 1,611 789
Equity in losses (earnings) of unconsolidated businesses, net of dividends received 84 (10) 36
Verizon Business Group goodwill impairment 5,841 0 0
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses:      
Accounts receivable (2,198) (1,978) (1,592)
Inventories 287 627 (905)
Prepaid expenses and other (435) 928 150
Accounts payable and accrued liabilities and Other current liabilities 2,079 (33) 1,457
Other, net (3,710) (3,778) (93)
Net cash provided by operating activities 37,475 37,141 39,539
Cash Flows from Investing Activities      
Capital expenditures (including capitalized software) (18,767) (23,087) (20,286)
Cash received (paid) related to acquisitions of businesses, net of cash acquired (30) 248 (4,065)
Acquisitions of wireless licenses (5,796) (3,653) (47,596)
Collateral receipts (payments) related to derivative contracts, net 880 (2,265) (21)
Proceeds from disposition of business 0 33 4,122
Other, net 281 62 693
Net cash used in investing activities (23,432) (28,662) (67,153)
Cash Flows from Financing Activities      
Proceeds from long-term borrowings 2,018 7,074 33,034
Proceeds from asset-backed long-term borrowings 6,594 10,732 8,383
Net proceeds from (repayments of) short-term commercial paper (150) 106 0
Repayments of long-term borrowings and finance lease obligations (6,181) (8,616) (14,063)
Repayments of asset-backed long-term borrowings (4,443) (4,948) (4,800)
Dividends paid (11,025) (10,805) (10,445)
Other, net (1,470) (2,072) (3,832)
Net cash provided by (used in) financing activities (14,657) (8,529) 8,277
Decrease in cash, cash equivalents and restricted cash (614) (50) (19,337)
Cash, cash equivalents and restricted cash, beginning of period 4,111 4,161 23,498
Cash, cash equivalents and restricted cash, end of period $ 3,497 $ 4,111 $ 4,161