Verizon Communications Inc (VZ)
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Fiscal Year End Date: 12/31
| 12-2003 | 12-2002 | 12-2001 | 12-2000 | 12-1999 | |
| Cash Flows From Operating Activities | |||||
| Net Income | 3,077,000 | 4,591,000 | 584,000 | 10,810,000 | 8,296,000 |
| Depreciation Amortization | 13,607,000 | 13,282,000 | 13,523,000 | 12,261,000 | 9,890,000 |
| Income taxes - deferred | 826,000 | 1,706,000 | 1,084,000 | 3,434,000 | 2,148,000 |
| Accounts receivable | -938,000 | -952,000 | -2,414,000 | -2,440,000 | -1,865,000 |
| Accounts payable and accrued liabilities | 2,657,000 | -1,438,000 | 573,000 | 1,973,000 | 780,000 |
| Other Working Capital | 1,740,000 | -1,579,000 | -2,667,000 | -5,054,000 | -2,944,000 |
| Other Operating Activity | 1,498,000 | 6,472,000 | 8,843,000 | -5,157,000 | 712,000 |
| Operating Cash Flow | $22,467,000 | $22,082,000 | $19,526,000 | $15,827,000 | $17,017,000 |
| Cash Flows From Investing Activities | |||||
| Change In Deposits | -120,000 | -216,000 | -382,000 | -221,000 | -98,000 |
| PPE Investments | -11,874,000 | -13,052,000 | -18,369,000 | -17,633,000 | -13,013,000 |
| Net Acquisitions | -933,000 | 5,290,000 | -2,657,000 | 4,547,000 | -3,406,000 |
| Other Investing Activity | 691,000 | 1,187,000 | 84,000 | -2,748,000 | -903,000 |
| Investing Cash Flow | $-12,236,000 | $-6,791,000 | $-21,324,000 | $-16,055,000 | $-17,420,000 |
| Cash Flows From Financing Activities | |||||
| Change In Short Term Borrowing | -1,330,000 | -11,024,000 | -546,000 | 3,515,000 | 4,166,000 |
| Debt Issued | 4,653,000 | 7,820,000 | 13,870,000 | 8,781,000 | 5,299,000 |
| Debt Repayment | -10,759,000 | -8,391,000 | -7,293,000 | -7,238,000 | -2,873,000 |
| Common Stock Issued | 839,000 | 915,000 | 501,000 | 576,000 | 1,166,000 |
| Common Stock Repurchased | N/A | N/A | N/A | -2,294,000 | -2,037,000 |
| Dividend Paid | -4,239,000 | -4,200,000 | -4,168,000 | -4,421,000 | -4,227,000 |
| Other Financing Activity | -123,000 | 71,000 | -391,000 | 33,000 | 238,000 |
| Financing Cash Flow | $-10,959,000 | $-14,809,000 | $1,973,000 | $-1,048,000 | $1,732,000 |
| Beginning Cash Position | 1,397,000 | 915,000 | 757,000 | 2,033,000 | 704,000 |
| End Cash Position | 669,000 | 1,397,000 | 932,000 | 757,000 | 2,033,000 |
| Net Cash Flow | $-728,000 | $482,000 | $175,000 | $-1,276,000 | $1,329,000 |
| Free Cash Flow | |||||
| Operating Cash Flow | 22,467,000 | 22,082,000 | 19,526,000 | 15,827,000 | 17,017,000 |
| Capital Expenditure | -11,874,000 | -13,052,000 | -18,369,000 | -17,633,000 | -13,013,000 |
| Free Cash Flow | 10,593,000 | 9,030,000 | 1,157,000 | -1,806,000 | 4,004,000 |