Source document: verizon-communications-inc_2019

Question: What was the amortization and deferred cost expense in 2019?
Facts: $2.7 billion
Answer: $2.7 billion

Question: What was the amortization and deferred cost expense in 2018?
Facts: $2.0 billion
Answer: $2.0 billion

Question: Were there any impairment charges in 2019 and 2018?
Facts: There have been no impairment charges recognized for the years ended December 31, 2019 and 2018.
Answer: There have been no impairment charges recognized for the years ended December 31, 2019 and 2018.

Question: What was the change in the prepaid expenses and other from 2018 to 2019?
Facts: 2,083; 2,578
Derivation: 2,578 - 2,083
Answer: 495 million

Question: What was the average of other assets for 2018 and 2019?
Facts: 1,812; 1,911
Derivation: (1,911 + 1,812) / 2
Answer: 1861.5 million

Question: What was the percentage change in the other assets from 2018 to 2019?
Facts: 1,812; 1,911
Derivation: 1,911 / 1,812 - 1
Answer: 5.46 percent

Question: What was the effective tax rate in 2019?
Facts: 13.0%
Answer: 13.0%

Question: What was the effective tax rate in 2018?
Facts: 18.3%
Answer: 18.3%

Question: What was the reason for decrease in effective income tax rate?
Facts: primarily due to the recognition of approximately $2.2 billion of a non-recurring tax benefit in connection with the disposition of preferred stock, representing a minority interest in a foreign affiliate in 2019 compared to the non-recurring deferred tax benefit of approximately $2.1 billion,
Answer: primarily due to the recognition of approximately $2.2 billion of a non-recurring tax benefit in connection with the disposition of preferred stock, representing a minority interest in a foreign affiliate in 2019 compared to the non-recurring deferred tax benefit of approximately $2.1 billion,

Question: What was the change in the statutory federal income tax rate from 2018 to 2019?
Facts: 21.0
Derivation: 21.0% - 21.0%
Answer: 0 percent

Question: What was the average State and local income tax rate, net of federal tax benefits between 2017-2019?
Facts: 1.6; 3.7
Derivation: (3.7 + 3.7 + 1.6) / 3
Answer: 3 percent

Question: What was the change in the preferred stock disposition from 2018 to 2019?
Facts: 0; 9.9
Derivation: -9.9 - 0
Answer: -9.9 percent

Question: How much did Cost of services increase in 2019?
Facts: $549 million
Answer: $549 million

Question: What is the total operating expenses in 2019?
Facts: $ 62,095
Answer: $ 62,095 million

Question: How much did Cost of wireless equipment decrease in 2019?
Facts: $544 million
Answer: $544 million

Question: What is the change in Cost of services from 2018 to 2019?
Facts: 15,335; 15,884
Derivation: 15,884-15,335
Answer: 549 million

Question: What is the change in Cost of wireless equipment from 2018 to 2019?
Facts: 18,219; 18,763
Derivation: 18,219-18,763
Answer: -544 million

Question: What is the change in Total Operating Expenses from 2018 to 2019?
Facts: 61,751; 62,095
Derivation: 62,095-61,751
Answer: 344 million

Question: How is free cash flow calculated?
Facts: by subtracting capital expenditures from net cash provided by operating activities. We believe it is a more conservative measure of cash flow since purchases of fixed assets are necessary for ongoing operations.
Answer: by subtracting capital expenditures from net cash provided by operating activities. We believe it is a more conservative measure of cash flow since purchases of fixed assets are necessary for ongoing operations.

Question: What was the Less Capital expenditures (including capitalized software) in 2019?
Facts: 17,939
Answer: 17,939 million

Question: What was the free cash flow in 2019?
Facts: $ 17,807
Answer: $ 17,807 million

Question: What was the change in the net cash provided by operating activities from 2018 to 2019?
Facts: 34,339; 35,746
Derivation: 35,746 - 34,339
Answer: 1407 million

Question: What was the average free cash flow for 2018 and 2019?
Facts: 17,681; 17,807
Derivation: (17,807 + 17,681) / 2
Answer: 17744 million

Question: What was the percentage change in the Less Capital expenditures from 2018 to 2019?
Facts: 16,658; 17,939
Derivation: 17,939 / 16,658 - 1
Answer: 7.69 percent

Question: What was the operating revenue in 2019?
Facts: $131,868
Answer: $131,868 million

Question: What was the Per common share – basic in 2019?
Facts: 4.66
Answer: 4.66

Question: What was the Total assets in 2019?
Facts: $ 291,727
Answer: $ 291,727 million

Question: What was the change in operating revenues from 2017 to 2018?
Facts: 126,034; 130,863
Derivation: 130,863 - 126,034
Answer: 4829 million

Question: What was the average operating income for 2015-2019?
Facts: 22,278; 27,425; 29,249; 30,378; 30,615
Derivation: (30,378 + 22,278 + 27,425 + 29,249 + 30,615) / 5
Answer: 27989 million

Question: What was the change in the Per common share – basic from 2018 to 2019?
Facts: 3.76; 4.66
Derivation: 4.66 - 3.76
Answer: 0.9

Question: How much was the Cost of services in 2019?
Facts: $10,655
Answer: $10,655 million

Question: How much was the Cost of Wireless Equipment in 2019?
Facts: 4,733
Answer: 4,733 million

Question: How much was the Selling, General and Administrative Expense in 2019?
Facts: 8,188
Answer: 8,188 million

Question: What is the change in Cost of services from 2018 to 2019?
Facts: 10,655; 10,859
Derivation: 10,655-10,859
Answer: -204 million

Question: What is the change in Cost of wireless equipment from 2018 to 2019?
Facts: 4,560; 4,733
Derivation: 4,733-4,560
Answer: 173 million

Question: What is the change in Selling, general and administrative expense from 2018 to 2019?
Facts: 7,689; 8,188
Derivation: 8,188-7,689
Answer: 499 million

Question: How much did Service and other revenues amounted for   years ended December 31, 2019 and 2018 respectively?
Facts: $27.9 billion; $28.1 billion
Answer: $27.9 billion; $28.1 billion

Question: How much did Wireless equipment revenues amounted for   years ended December 31, 2019 and 2018 respectively?
Facts: $3.4 billion; $3.5 billion
Answer: $3.5 billion; $3.4 billion

Question: Why did Business revenues decrease during 2019?
Facts: due to decreases in Global Enterprise and Wholesale revenues, partially offset by increases in Small and Medium Business and Public Sector and Other revenues.
Answer: due to decreases in Global Enterprise and Wholesale revenues, partially offset by increases in Small and Medium Business and Public Sector and Other revenues.

Question: What is the change in Global Enterprise value from 2018 to 2019?
Facts: 10,818; 11,201
Derivation: 10,818-11,201
Answer: -383 million

Question: What is the change in Small and Medium Business value from 2018 to 2019?
Facts: 10,752; 11,464
Derivation: 11,464-10,752
Answer: 712 million

Question: What is the change in Wholesale value from 2018 to 2019?
Facts: 3,239; 3,748
Derivation: 3,239-3,748
Answer: -509 million

Question: How is Consolidated Adjusted EBITDA calculated?
Facts: by excluding from Consolidated EBITDA the effect of the following non-operational items: equity in losses of unconsolidated businesses and other income and expense, net, as well as the effect of special items.
Answer: by excluding from Consolidated EBITDA the effect of the following non-operational items: equity in losses of unconsolidated businesses and other income and expense, net, as well as the effect of special items.

Question: Why is Consolidated Adjusted EBITDA useful?
Facts: evaluating the effectiveness of our operations and underlying business trends in a manner that is consistent with management’s evaluation of business performance.
Answer: evaluating the effectiveness of our operations and underlying business trends in a manner that is consistent with management’s evaluation of business performance.

Question: What is the Consolidated Net Income in 2019?
Facts: $19,788
Answer: $19,788 million

Question: What is the change in Consolidated Net Income from 2018 to 2019?
Facts: 16,039; 19,788
Derivation: 19,788-16,039
Answer: 3749 million

Question: What is the change in Consolidated EBITDA from 2018 to 2019?
Facts: 41,859; 44,145
Derivation: 44,145-41,859
Answer: 2286 million

Question: What is the change in Consolidated Adjusted EBITDA from 2018 to 2019?
Facts: 47,189; 47,410
Derivation: 47,189-47,410
Answer: -221 million

Question: What was the net increase to accumulated other comprehensive income in 2016?
Facts: $2.9 billion
Answer: $2.9 billion

Question: What is the duration of postretirement benefit plan over which the amount will be reclassified?
Facts: 7.8 years
Answer: 7.8 years

Question: What was the projected benefit obligation in 2019?
Facts: $ 21,190
Answer: $ 21,190 million

Question: What is the change in the projected benefit obligation from 2018 to 2019?
Facts: 19,510; 21,190
Derivation: 21,190 - 19,510
Answer: 1680 million

Question: What was the average accumulated benefit obligation for 2018 and 2019?
Facts: 19,461; 21,134
Derivation: (21,134 + 19,461) / 2
Answer: 20297.5 million

Question: What was the percentage change in the fair value of plan assets from 2018 to 2019?
Facts: 17,757; 19,388
Derivation: 19,388 / 17,757 - 1
Answer: 9.19 percent

Question: What was the change in the employee benefit from 2018 to 2019?
Facts: 5,048; 5,403
Derivation: 5,048 - 5,403
Answer: -355 million

Question: What was the average tax loss and credit carry forward for 2018 and 2019?
Facts: 3,012; 3,576
Derivation: (3,012 + 3,576) / 2
Answer: 3294 million

Question: What was the average other assets for 2018 and 2019?
Facts: 1,650; 5,595
Derivation: (5,595 + 1,650) / 2
Answer: 3622.5 million

Question: What was the undistributed earnings of foreign subsidiary invested outside the US amounted to in 2019?
Facts: $3.8 billion
Answer: $3.8 billion

Question: What was the net after tax loss and credit carry forward for income tax in 2019?
Facts: $3.0 billion
Answer: $3.0 billion

Question: What was the valuation allowance decrease in 2019?
Facts: $481 million
Answer: $481 million

Question: What was the effective income tax rate for the period 2019?
Facts: 13.0%
Answer: 13.0%

Question: What was the effective income tax rate for the period 2018?
Facts: 18.3%
Answer: 18.3%

Question: What led to non-recurring deferred tax benefit of approximately $2.1 billion?
Facts: an internal reorganization of legal entities within the historical Wireless business
Answer: an internal reorganization of legal entities within the historical Wireless business

Question: What is the change in Provision for income taxes from 2018 to 2019?
Facts: 2,945; 3,584
Derivation: 2,945-3,584
Answer: -639 million

Question: What is the change in Effective income tax rate from 2018 to 2019?
Facts: 13.0; 18.3
Derivation: 13.0-18.3
Answer: -5.3 percent

Question: What is the average Effective income tax rate for 2018 and 2019?
Facts: 13.0; 18.3
Derivation: (13.0+18.3) / 2
Answer: 15.65 percent

Question: What was the amount that would favorably affect the effective income tax rate if included in 2019?
Facts: $2.4 billion
Answer: $2.4 billion

Question: What was the amount that would favorably affect the effective income tax rate if included in 2018?
Facts: $2.3 billion
Answer: $2.3 billion

Question: What was the amount that would favorably affect the effective income tax rate if included in 2017?
Facts: $1.9 billion
Answer: $1.9 billion

Question: What was the change in the Additions based on tax positions related to the current year from 2018 to 2019?
Facts: 149; 160
Derivation: 149 - 160
Answer: -11 million

Question: What was the average Additions for tax positions of prior years for 2017-2019?
Facts: 297; 699; 756
Derivation: (297 + 699 + 756) / 3
Answer: 584 million

Question: What was the average settlements for 2017-2019?
Facts: 40; 42; 58
Derivation: -(58 + 40 + 42) / 3
Answer: -46.67 million

Question: What was the total long-term debt?
Facts: $110,865
Answer: $110,865 million

Question: What was the long-term debt less than 1 year?
Facts: $ 10,470
Answer: $ 10,470 million

Question: What was the total finance lease obligation?
Facts: 1,213
Answer: 1,213 million

Question: What is the difference between the long-term debt due less than 1 year and 1 to 3 years?
Facts: 10,470; 16,431
Derivation: 16,431 - 10,470
Answer: 5961 million

Question: What is the average long term debt payment for each payment period?
Facts: 10,470; 16,431; 74,161; 9,803
Derivation: (10,470 + 16,431 + 9,803 + 74,161) / 4
Answer: 27716.25 million

Question: What is the average finance lease obligation for each payment period?
Facts: 124; 244; 366; 479
Derivation: (366 + 479 + 244 + 124) / 4
Answer: 303.25 million

Question: How much did Consumer’s total operating revenues increase in 2019?
Facts: $1.3 billion
Answer: $1.3 billion

Question: Why did Consumer’s total operating revenues increase in 2019?
Facts: as a result of increases in Service and Other revenues, partially offset by a decrease in Wireless equipment revenue.
Answer: as a result of increases in Service and Other revenues, partially offset by a decrease in Wireless equipment revenue.

Question: How much did Service Revenue increase in 2019?
Facts: $1.2 billion
Answer: $1.2 billion

Question: What is the change in Service revenue from 2018 to 2019?
Facts: 64,223; 65,383
Derivation: 65,383-64,223
Answer: 1160 million

Question: What is the change in Wireless equipment revenue from 2018 to 2019?
Facts: 18,048; 18,875
Derivation: 18,048-18,875
Answer: -827 million

Question: What is the change in Total Operating Revenues from 2018 to 2019?
Facts: 89,762; 91,056
Derivation: 91,056-89,762
Answer: 1294 million

Question: What was the increase in the consolidated revenue from 2018 to 2019?
Facts: $1.0 billion
Answer: $1.0 billion

Question: What was the decrease in the corporate and other revenue from 2018 to 2019?
Facts: $124 million
Answer: $124 million

Question: What caused the decrease in corporate and other revenue?
Facts: a decrease of $232 million in revenues within Verizon Media.
Answer: a decrease of $232 million in revenues within Verizon Media.

Question: What was the change in the consumer revenue from 2018 to 2019?
Facts: 89,762; 91,056
Derivation: 91,056 - 89,762
Answer: 1294 million

Question: What was the average business segment revenue for 2018 and 2019?
Facts: 31,443; 31,534
Derivation: (31,443 + 31,534) / 2
Answer: 31488.5 million

Question: What was the average corporate segment revenue and other segment revenue for 2018 and 2019?
Facts: 9,812; 9,936
Derivation: (9,812 + 9,936) / 2
Answer: 9874 million

Question: How is the capital spending requirements for the firm financed?
Facts: primarily through internally generated funds
Answer: primarily through internally generated funds

Question: What are the available external financing arrangements?
Facts: active commercial paper program, credit available under credit facilities and other bank lines of credit, vendor financing arrangements, issuances of registered debt or equity securities, U.S. retail medium-term notes and other capital market securities that are privately-placed or offered overseas
Answer: active commercial paper program, credit available under credit facilities and other bank lines of credit, vendor financing arrangements, issuances of registered debt or equity securities, U.S. retail medium-term notes and other capital market securities that are privately-placed or offered overseas

Question: What was the cash flow from operating activities in 2019?
Facts: $ 35,746
Answer: $ 35,746 million

Question: What was the change in cash flow from operating activities from 2018 to 2019?
Facts: 34,339; 35,746
Derivation: 35,746 - 34,339
Answer: 1407 million

Question: What was the average cash flow used in investing activities for 2018 and 2019?
Facts: 17,581; 17,934
Derivation: -(17,581 + 17,934) / 2
Answer: -17757.5 million

Question: What was the percentage change in cash flow used in financing activities from 2018 to 2019?
Facts: 15,377; 18,164
Derivation: -18,164 / -15,377 - 1
Answer: 18.12 percent

Question: What was the decrease in the cost of services in 2019?
Facts: $413 million
Answer: $413 million

Question: What caused the decrease in the cost of services?
Facts: decreases in network access costs, a product realignment charge in 2018 (see “Special Items”), decreases in employee-related costs resulting from the Voluntary Separation Program and decreases in digital content costs
Answer: decreases in network access costs, a product realignment charge in 2018 (see “Special Items”), decreases in employee-related costs resulting from the Voluntary Separation Program and decreases in digital content costs

Question: What was the decrease in the cost of wireless equipment cost in 2019?
Facts: $369 million
Answer: $369 million

Question: What was the change in the cost of services from 2018 to 2019?
Facts: 31,772; 32,185
Derivation: 31,772 - 32,185
Answer: -413 million

Question: What was the average cost of wireless equipment for 2018 and 2019?
Facts: 22,954; 23,323
Derivation: (22,954 + 23,323) / 2
Answer: 23138.5 million

Question: What was the average Selling, general and administrative expense for 2018 and 2019?
Facts: 29,896; 31,083
Derivation: (29,896 + 31,083) / 2
Answer: 30489.5 million

Question: Which Standards were Adopted on January 1, 2018?
Facts: Topic 606, ASU 2018-02, Income Statement-Reporting Comprehensive Income and other ASUs.
Answer: Topic 606, ASU 2018-02, Income Statement-Reporting Comprehensive Income and other ASUs.

Question: Which method was used for adopting Topic 606?
Facts: the modified retrospective method.
Answer: the modified retrospective method.

Question: What is the retained earnings as of December 31, 2017?
Facts: 35,635
Answer: 35,635 million

Question: What is the change in Retained earnings from December 31, 2017 to January 1, 2018?
Facts: 35,635; 37,867
Derivation: 37,867-35,635
Answer: 2232 million

Question: What is the change in Accumulated other comprehensive income from December 31, 2017 to January 1, 2018?
Facts: 2,659; 3,289
Derivation: 3,289-2,659
Answer: 630 million

Question: What is the change in Noncontrolling interests from December 31, 2017 to January 1, 2018?
Facts: 1,591; 1,635
Derivation: 1,635-1,591
Answer: 44 million