VZHIGH SIGNALFINANCIAL10-K

Verizon's total debt increased dramatically from $51.5B to $93.1B, representing an 81% increase that signals major financing activity or acquisitions.

The substantial debt increase of over $40 billion suggests Verizon has undertaken significant capital deployment, potentially for spectrum acquisitions, infrastructure investments, or strategic transactions. This leverage increase will materially impact the company's financial flexibility and interest burden going forward, as evidenced by meaningfully higher interest expense.

Comparing 2026-02-17 vs 2025-02-12View on EDGAR →
FINANCIAL ANALYSIS

Verizon's balance sheet reflects a major financing event, with total debt growing substantially to $93.1 billion while current assets increased more modestly to $56.9 billion. Interest expense grew meaningfully alongside the debt increase, indicating the financial impact is already flowing through to earnings. The operational metrics show steady growth in wireless connections and broadband subscribers, suggesting the debt may be funding network expansion or strategic initiatives to support customer growth.

FINANCIAL STATEMENT CHANGES
Total Debt
Balance Sheet
+80.9%
$51.5B→$93.1B

Debt increased 80.9% — substantial leverage increase; assess whether deployed for growth or covering losses.

Interest Expense
P&L
+52.9%
$3.6B→$5.5B

Interest expense surged 52.9% — significant debt increase or rising rates materially impacting earnings.

Current Assets
Balance Sheet
+40.5%
$40.5B→$56.9B

Current assets grew 40.5% — improving short-term liquidity or inventory/receivables build.

LANGUAGE CHANGES
NEW — 2026-02-17
PRIOR — 2025-02-12
ADDED
At January 30, 2026, 4,217,684,168 shares of the registrant s common stock were outstanding, after deducting 73,749,478 shares held in treasury.
As of the date this report is being filed, our wireline services are provided in 31 U.S.
over our 100% fiber-optic network through our fiber product portfolio, as well as over a traditional copper-based network.
In 2025, the Consumer segment s revenues were $106.8 billion, representing approximately 77% of Verizon s consolidated revenues.
As of December 31, 2025, Consumer had approximately 116 million wireless retail connections (including FWA), of which 83% were postpaid connections.
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REMOVED
At January 31, 2025, 4,209,703,958 shares of the registrant s common stock were outstanding, after deducting 81,729,688 shares held in treasury.
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 (DSL) connections), and approximately 3 million Fios video connections.
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