financials > notes to consolidated financial statements > note 22 (continued)
note 22 (page 2 of 2)
Condensed Consolidating       Verizon           (dollars in millions )
Balance Sheets       New   Verizon       Adjust -    
At December 31, 2004   Parent England   South   Other ments   Total  
Cash $ –   $ –   $ –   $ 2,290   $ –   $ 2,290  
Short-term investments   –     187     33     2,037     –     2,257  
Accounts receivable, net   6     913     151     9,751     (1,020 )   9,801  
Other current assets   7,632     151     123     4,985     (7,760 )   5,131  
   Total current assets   7,638     1,251     307     19,063     (8,780 )   19,479  
Plant, property and equipment, net   1     6,444     1,204     66,475     –     74,124  
Investments in
   unconsolidated businesses		   32,191     116     –     9,639     (36,091 )   5,855  
Other assets   408     488     374     65,460     (230 )   66,500  
Total Assets $ 40,238   $ 8,299   $ 1,885   $ 160,637   $ (45,101 ) $ 165,958  
Debt maturing within one year $ 31   $ 168   $ –   $ 11,222   $ (7,828 ) $ 3,593  
Other current liabilities   2,372     1,217     181     16,718     (952 )   19,536  
   Total current liabilities   2,403     1,385     181     27,940     (8,780 )   23,129  
Long-term debt   113     2,966     901     31,924     (230 )   35,674  
Employee benefit obligations   160     1,940     235     15,606     –     17,941  
Deferred income taxes   –     571     249     21,712     –     22,532  
Other liabilities   2     253     34     3,780     –     4,069  
Minority interest   –     –     –     25,053     –     25,053  
Total shareowners’ investment   37,560     1,184     285     34,622     (36,091 )   37,560  
Total Liabilities and
   Shareowners’ Investment		 $ 40,238   $ 8,299   $ 1,885   $ 160,637   $ (45,101 ) $ 165,958  
Condensed Consolidating       Verizon           (dollars in millions )
Balance Sheets       New   Verizon       Adjust -    
At December 31, 2003   Parent England   South   Other ments   Total  
Cash $ –   $ –   $ –   $ 669   $ –   $ 669  
Short-term investments   –     200     40     1,932     –     2,172  
Accounts receivable, net   3     1,117     162     10,373     (1,801 )   9,854  
Other current assets   5,201     380     192     5,756     (5,329 )   6,200  
   Total current assets   5,204     1,697     394     18,730     (7,130 )   18,895  
Plant, property and equipment, net   1     6,751     1,280     67,270     –     75,302  
Investments in
   unconsolidated businesses		   30,869     117     –     6,354     (31,551 )   5,789  
Other assets   152     610     385     64,845     (10 )   65,982  
Total Assets $ 36,226   $ 9,175   $ 2,059   $ 157,199   $ (38,691 ) $ 165,968  
Debt maturing within one year $ 30   $ 513   $ –   $ 11,125   $ (5,701 ) $ 5,967  
Other current liabilities   2,484     1,739     301     17,518     (1,429 )   20,613  
   Total current liabilities   2,514     2,252     301     28,643     (7,130 )   26,580  
Long-term debt   145     2,749     900     35,629     (10 )   39,413  
Employee benefit obligations   99     1,787     216     14,652     –     16,754  
Deferred income taxes   –     602     238     20,864     –     21,704  
Other liabilities   2     235     39     3,427     –     3,703  
Minority interest   –     –     –     24,348     –     24,348  
Total shareowners’ investment   33,466     1,550     365     29,636     (31,551 )   33,466  
Total Liabilities and
   Shareowners’ Investment		 $ 36,226   $ 9,175   $ 2,059   $ 157,199   $ (38,691 ) $ 165,968  
Condensed Consolidating       Verizon           (dollars in millions )
Statements of Cash Flows       New   Verizon       Adjust -    
At December 31, 2004   Parent England   South   Other ments   Total  
Net cash from operating activities $ 6,650   $ 1,219   $ 282   $ 20,133   $ (6,464 ) $ 21,820  
Net cash from investing activities   –     (655 )   (75 )   (9,559 )   (54 )   (10,343 )
Net cash from financing activities   (6,650 )   (564 )   (207 )   (8,953 )   6,518     (9,856 )
Net Increase in Cash $ –   $ –   $ –   $ 1,621   $ –   $ 1,621  
Condensed Consolidating       Verizon           (dollars in millions )
Statements of Cash Flows       New   Verizon       Adjust -    
At December 31, 2003   Parent England   South   Other ments   Total  
Net cash from operating activities $ 8,763   $ 1,304   $ 283   $ 20,630   $ (8,513 ) $ 22,467  
Net cash from investing activities   –     (628 )   (229 )   (11,506 )   127     (12,236 )
Net cash from financing activities   (8,763 )   (676 )   (54 )   (9,852 )   8,386     (10,959 )
Net Decrease in Cash $ –   $ –   $ –   $ (728 ) $ –   $ (728 )
Condensed Consolidating       Verizon           (dollars in millions )
Statements of Cash Flows       New   Verizon       Adjust -    
At December 31, 2002   Parent England   South   Other ments   Total  
Net cash from operating activities $ 8,345   $ 1,488   $ (306 ) $ 20,699   $ (8,144 ) $ 22,082  
Net cash from investing activities   –     (754 )   2,252     (7,999 )   (290 )   (6,791 )
Net cash from financing activities   (8,345 )   (734 )   (1,946 )   (12,218 )   8,434     (14,809 )
Net Decrease in Cash $ –   $ –   $ –   $ 482   $ –   $ 482  
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* This is an interactive electronic version of Verizon’s 2004 Annual Report to Shareholders, and it is intended to be complete and accurate. The contents of this version are qualified in their entirety by reference to the printed version. A reproduction of the printed version is available in PDF format on this website