Verizon Files 2024 10-K
Ticker: VZ · Form: 10-K · Filed: Feb 12, 2025 · CIK: 732712
| Field | Detail |
|---|---|
| Company | Verizon Communications Inc (VZ) |
| Form Type | 10-K |
| Filed Date | Feb 12, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.10, $102.9 b, $29.5 b, $14.2 b, $13.1 b |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, annual-report, telecommunications
TL;DR
Verizon dropped its 2024 10-K. All the deets on their financials.
AI Summary
Verizon Communications Inc. filed its 2024 10-K on February 12, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The company, headquartered in New York, operates in the telephone communications sector. This filing provides a comprehensive overview of its business, financial condition, and results of operations for the period.
Why It Matters
This filing is crucial for investors and analysts to understand Verizon's financial health, strategic direction, and potential risks as of the end of 2024.
Risk Assessment
Risk Level: low — This is a standard annual financial filing (10-K) and does not inherently present new risks beyond those typically associated with a large telecommunications company.
Key Players & Entities
- VERIZON COMMUNICATIONS INC (company) — Filer
- 20241231 (date) — Fiscal Year End
- 20250212 (date) — Filing Date
- NEW YORK (location) — Business Address City
- BELL ATLANTIC CORP (company) — Former Company Name
FAQ
What is Verizon's primary business sector?
Verizon Communications Inc. operates in the TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) sector, with SIC code 4813.
When did Verizon file its 2024 10-K?
Verizon filed its 2024 10-K on February 12, 2025.
What is Verizon's fiscal year end?
Verizon's fiscal year ends on December 31.
Where is Verizon Communications Inc. headquartered?
Verizon Communications Inc. is headquartered in New York, NY.
What was Verizon's former company name?
Verizon Communications Inc.'s former company name was BELL ATLANTIC CORP.
Filing Stats: 4,449 words · 18 min read · ~15 pages · Grade level 13.1 · Accepted 2025-02-12 10:19:07
Key Financial Figures
- $0.10 — ich Registered Common Stock, par value $0.10 VZ New York Stock Exchange Common Stoc
- $102.9 b — 4, the Consumer segment's revenues were $102.9 billion, representing approximately 76% o
- $29.5 b — 4, the Business segment's revenues were $29.5 billion, representing approximately 22% o
- $14.2 b — erprise and Public Sector revenues were $14.2 billion, representing approximately 48% o
- $13.1 b — usiness Markets and Other revenues were $13.1 billion, representing approximately 44% o
- $2.2 b — omers. In 2024, Wholesale revenues were $2.2 billion, representing approximately 8% of
Filing Documents
- vz-20241231.htm (10-K) — 3849KB
- a2024q410-kxexhibit4g.htm (EX-4.G) — 241KB
- a2024q410-kxexhibit19.htm (EX-19) — 40KB
- a2024q410-kxexhibit21.htm (EX-21) — 13KB
- a2024q410-kxexhibit23.htm (EX-23) — 5KB
- a2024q410-kxexhibit24.htm (EX-24) — 51KB
- a2024q410-kxexhibit311.htm (EX-31.1) — 10KB
- a2024q410-kxexhibit312.htm (EX-31.2) — 11KB
- a2024q410-kxexhibit321.htm (EX-32.1) — 5KB
- a2024q410-kxexhibit322.htm (EX-32.2) — 6KB
- vz-20241231_g1.jpg (GRAPHIC) — 98KB
- vz-20241231_g2.jpg (GRAPHIC) — 21KB
- vz-20241231_g3.jpg (GRAPHIC) — 20KB
- vz-20241231_g4.jpg (GRAPHIC) — 18KB
- vz-20241231_g5.jpg (GRAPHIC) — 22KB
- vz-20241231_g6.jpg (GRAPHIC) — 21KB
- vz-20241231_g7.jpg (GRAPHIC) — 16KB
- vz-20241231_g8.jpg (GRAPHIC) — 16KB
- vz-20241231_g9.jpg (GRAPHIC) — 11KB
- 0000732712-25-000006.txt ( ) — 22544KB
- vz-20241231.xsd (EX-101.SCH) — 126KB
- vz-20241231_cal.xml (EX-101.CAL) — 183KB
- vz-20241231_def.xml (EX-101.DEF) — 701KB
- vz-20241231_lab.xml (EX-101.LAB) — 1428KB
- vz-20241231_pre.xml (EX-101.PRE) — 1082KB
- vz-20241231_htm.xml (XML) — 4495KB
Risk Factors
Item 1A. Risk Factors 13
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 19
Cybersecurity
Item 1C. Cybersecurity 19
Properties
Item 2. Properties 21
Legal Proceedings
Item 3. Legal Proceedings 21
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 21 PART II
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22
[Reserved]
Item 6. [Reserved] 22
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 23
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 49
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 51
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 107
Controls and Procedures
Item 9A. Controls and Procedures 107
Other Information
Item 9B. Other Information 108
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 108 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 108
Executive Compensation
Item 11. Executive Compensation 109
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 109
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 109
Principal Accounting Fees and Services
Item 14. Principal Accounting Fees and Services 109 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 110
Form 10-K Summary
Item 16. Form 10-K Summary 114
Signatures
Signatures 114 Certifications Table of Contents PART I
Business
Item 1. Business General Verizon Communications Inc. (the Company) is a holding company that, acting through its subsidiaries (together with the Company, collectively, Verizon), is one of the world's leading providers of communications, technology, information and streaming products and services to consumers, businesses and government entities. With a presence around the world, we offer data, video and voice services and solutions on our networks and platforms that are designed to meet customers' demand for mobility, reliable network connectivity and security. We have two reportable segments that we operate and manage as strategic business units - Verizon Consumer Group (Consumer) and Verizon Business Group (Business). Verizon Consumer Group Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the United States (U.S.) under the Verizon family of brands and through wholesale and other arrangements. We also provide fixed wireless access (FWA) broadband through our fifth-generation (5G) or fourth-generation (4G) Long-Term Evolution (LTE) networks as an alternative to traditional landline internet access. Our wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over our 100% fiber-optic network through our Verizon Fios product portfolio and over a traditional copper-based network to customers who are not served by Fios. In 2024, the Consumer segment's revenues were $102.9 billion, representing approximately 76% of Verizon's consolidated revenues. As of December 31, 2024, Consumer had approximately 115 million wireless retail connections (including FWA), of which 83% are postpaid connections. In addition, at December 31, 2024, Consumer had approximately 10 million total broadband connections (which includes Fios internet, FWA and Digital Subscriber Line (DS