威瑞森通讯 2025年季度报告

Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), PART I - FINANCIAL INFORMATION Condensed Consolidated Statements of Comprehensive Income 7 Note1. Basis of Presentation services to consumers, businesses and government entities. With a presence around the world, we offer data, video and voice services and security. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally acceptedaccounting principles (GAAP) in the United States (U.S.) and based upon Securities and Exchange Commission rules that permitreduced disclosure for interim periods. For a more complete discussion of significant accounting policies and certain other information, The condensed consolidated financial statements includeour controlled subsidiaries, as well as variable interest entities (VIE) wherewe are deemed to be the primary beneficiary. All significant intercompany accounts and transactions have been eliminated. Earnings Per Common Share Cash and cash equivalentsRestricted cash: Assets held for sale:Prepaid expenses and other Cash, cash equivalents and restricted cash$3,931$4,635$ We earn revenue from contracts with customers, primarily through the provision of telecommunications and other services and throughthe sale of wireless equipment. Revenue by Category We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers andequipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized whenequipment is sold to the customer by an authorized agent under a device payment plan agreement. We have elected the practical Remaining Performance ObligationsWhen allocating the total contract transaction price to identified performance obligations, a portion of the total transaction price may relate to service performance obligations which were not satisfied or were partially satisfied as of the end of the reporting period. Belowwe disclose information relating to these unsatisfied performance obligations. We apply the practical expedient available under Topic606 that provides the option to exclude the expected revenues arising from unsatisfied performance obligations related to contracts thathave an original expected duration of one year or less. This situation primarily arises with respect to certain month-to-month servicecontracts.At June30, 2025, month-to-month service contracts represented approximately95% of our wireless postpaid contracts and (typically under a device payment plan associated with a promotion or a fixed-term plan). Additionally, customers may incur chargesbased on usage or additional optional services purchased in conjunction with entering into a contract that can be cancelled at any timeand therefore are not included in the transaction price. The transaction price allocated to service performance obligations, which are notsatisfied or are partially satisfied as of the end of the reporting period, are generally related to contracts that are not accounted for as recognized in future periods. specified contract term; however, a significant number of contracts for wireline services with our Business customers have a contractterm that istwelve monthsor less. ending in September 2053 and have aggregate contract minimum payments totaling $1.5billion.At June30, 2025, the aggregate amount of the transaction price related to unsatisfied performance obligations was $53.5billion, of Accounts Receivable and Contract Balances consideration for such goods and services from the customer, or the customer has made payment to Verizon in advance of obtainingcontrol of the goods and/or services promised to the customer in the contract. insurance and device payment plan agreement receivables presented separately.Included in device payment plan agreement receivables presented in Note6. Receivables derived from the sale of equipment on a Contract assets primarily relate to our rights to consideration for goods or services provided to customers but for which we do not have an unconditional right at the reporting date. Under a fixed-term plan, total contract revenue is allocated between wireless service and results in our right to the payment being unconditional. The contract asset balances are presented in our condensed consolidatedbalance sheets as Prepaid expenses and other and Other assets. We recognize the allowance for credit losses at inception andreassess quarterly based on management’s expectation of the asset’s collectability. in the contract. We typically bill service one month in advance, which is the primary component of the contract liability balance. Contractliabilities are recognized as revenue when services are provided t