Verizon Communications Inc. (VZ) FY2024 Annual P&L / Income Statement

Verizon Communications Inc. (VZ) FY2024 Annual P&L / Income Statement

Income statement for 2024-01-01 through 2024-12-31. View: Business segment. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

Operating Revenues

134,788,000,000 US dollars

Cost of revenue (calculated)

54,097,000,000 US dollars

Gross profit (calculated)

80,691,000,000 US dollars

Operating expenses (calculated)

52,005,000,000 US dollars

Operating Income

28,686,000,000 US dollars

Other income (expense), net (calculated)

negative 5,707,000,000 US dollars

Income Before Provision For Income Taxes

22,979,000,000 US dollars

Provision for income taxes

5,030,000,000 US dollars

Net Income

17,949,000,000 US dollars

Consumer

102,904,000,000 US dollars

Business

29,531,000,000 US dollars

Cost of services and wireless equipment

54,097,000,000 US dollars

Depreciation and amortization expense

17,892,000,000 US dollars

Verizon Business Group goodwill impairment

0 US dollars

Selling, general and administrative expense

34,113,000,000 US dollars

Revenue before reconciliation (calculated)

132,435,000,000 US dollars. Sum of the reported revenue categories before the separately reported reconciliation.

Eliminations

negative 256,000,000 US dollars. Reported reconciliation to consolidated revenue.

Corporate and other

2,609,000,000 US dollars. Reported reconciliation to consolidated revenue.

Consumer costs (calculated)

73,420,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.

Business costs (calculated)

27,473,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.

Reconciling items (calculated)

5,209,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.

Chart connections

• Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
• Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
• Reported revenue categories plus the separately reported signed reconciliation equals consolidated revenue.
• Of which attributable to Verizon Communications Inc.: $17.51 B; to noncontrolling interests: $443.00 M.