8-KOther EventsExhibits & Filings

VERIZON COMMUNICATIONS INC 8-K Report, Corporate Update (Aug 8, 2019)

Filed August 8, 2019For Securities:VZ

Summary

Verizon Communications Inc. (VZ) filed a Form 8-K on August 8, 2019, to address a strategic reorganization that became effective on April 1, 2019. The company has restructured its operations into two primary reportable segments: the Verizon Consumer Group and the Verizon Business Group. This filing is primarily for recasting financial and related information within its previously filed 2018 Annual Report on Form 10-K to align with this new operational structure. Investors should note that this 8-K does not introduce new financial performance data or events occurring after February 15, 2019, the filing date of the 2018 Form 10-K. Instead, it serves to update specific sections of the 2018 Form 10-K, including the Business, Properties, Management's Discussion and Analysis, and Financial Statements, to reflect the new two-segment reporting framework. For information on Verizon's performance since the end of 2018, investors are directed to its subsequent Form 10-Q filings for the quarters ending March 31, 2019, and June 30, 2019.

Key Highlights

  • 1Verizon Communications Inc. has officially recast financial and related information from its 2018 Form 10-K to reflect a new two-segment operating structure: Verizon Consumer Group and Verizon Business Group.
  • 2The new organizational structure and reporting segments became effective on April 1, 2019.
  • 3This 8-K filing is a retrospective update to the 2018 Form 10-K, not a report of new events or performance data occurring after February 15, 2019.
  • 4Updated sections in the 2018 Form 10-K include Business, Properties, Management's Discussion and Analysis, and Financial Statements.
  • 5Investors should refer to subsequent Form 10-Q filings (Q1 2019 and Q2 2019) for the most current operational and financial performance data.
  • 6The filing includes necessary exhibits such as consents from independent auditors and revised report sections.

Frequently Asked Questions

The main purpose of this 8-K filing is to recastexisting financial and related information from Verizon's 2018 Form 10-K to align with its new two-segment operating structure (Verizon Consumer Group and Verizon Business Group), which became effective on April 1, 2019.

No, this filing does not introduce new financial results or performance updates. It is a restatement of information already present in the 2018 Form 10-K to reflect the updated business segments. For current performance data, investors should consult Verizon's quarterly reports (Form 10-Q) for the periods ending March 31, 2019, and June 30, 2019.

The filing revises Parts I and II of the 2018 Form 10-K. Specifically, it updates the Business and Properties sections in Part I, and the Management's Discussion and Analysis (MD&A) and Financial Statements sections in Part II to reflect the new two-segment reporting structure.

The new operating structure, comprising the Verizon Consumer Group and the Verizon Business Group, became effective on April 1, 2019.