8-KRegulation FDExhibits & Filings

VERIZON COMMUNICATIONS INC 8-K Report, Regulation FD Disclosure (Mar 3, 2022)

Filed March 3, 2022For Securities:VZ

Summary

Verizon Communications Inc. (VZ) filed an 8-K on March 3, 2022, primarily to disclose materials from an investor presentation and a related press release. These documents provide an update on the company's financial position and outlook, including the presentation of non-GAAP financial measures to offer a more comprehensive view of performance. Investors should pay close attention to the company's forecasting of its Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio and Free Cash Flow, as these metrics are highlighted as important tools for assessing Verizon's liquidity and debt servicing capabilities.

Key Highlights

  • 1Disclosure of investor presentation slides (Exhibit 99.1) and a press release (Exhibit 99.2) dated March 3, 2022.
  • 2Presentation of non-GAAP financial measures alongside GAAP measures to enhance understanding of performance.
  • 3Introduction of the 'Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio Forecast' as a key metric for evaluating debt servicing ability.
  • 4Explanation of the calculation for 'Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio Forecast' using Net Unsecured Debt and Consolidated Adjusted EBITDA.
  • 5Definition of 'Free Cash Flow Forecast' as a non-GAAP measure to complement GAAP results and provide insight into liquidity.
  • 6Clarification of the calculation for 'Free Cash Flow Forecast' (Operating Cash Flow minus Capital Expenditures).
  • 7Note that reconciliations for the 'Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio Forecast' were not provided due to the difficulty in predicting future special items.

Frequently Asked Questions

The main purpose of this 8-K filing is to furnish investors with slides from an investor presentation and a related press release, both dated March 3, 2022. These materials provide additional financial information and insights into Verizon's performance and outlook.

The key non-GAAP financial measures discussed are the 'Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio Forecast' and the 'Free Cash Flow Forecast'. These are presented to offer investors a deeper understanding of Verizon's debt management and cash flow generation capabilities beyond standard GAAP reporting.

Verizon includes non-GAAP financial measures to enhance the understanding of its financial performance. Management believes these measures provide valuable additional insights for investors and other users of financial information to more fully and accurately assess both consolidated and segment performance, complementing the GAAP financial statements.

No, a reconciliation for the 'Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio Forecast' was not provided in this filing. Verizon stated that it cannot provide this reconciliation without unreasonable effort due to the unpredictable nature of future special items that can impact the calculation.