VZ · 10-Q · 2026Q2 · Full report
Debt and Liquidity Position
VERIZON COMMUNICATIONS INC · 2026-07-31 · Importance 61 · Surprise 32 · No source text
Total debt increased to $165.2 billion at June 30, 2026 from $158.2 billion at December 31, 2025, including $136.5 billion of unsecured debt and $28.8 billion of secured debt. Six-month financing cash outflows included $14.4 billion of repayments, redemptions and repurchases of long-term borrowings and finance leases and $13.9 billion of asset-backed debt repayments, partly offset by $12.0 billion of asset-backed borrowings and $9.9 billion of long-term borrowings. Verizon had $12.061 billion of unused credit capacity, including $11.976 billion on its $12.0 billion revolving facility, and had no revolving-facility drawings. Cash and cash equivalents declined $17.3 billion to $1.8 billion at June 30, 2026, while management stated that funding sources were sufficient for requirements over the next 12 months and beyond.
Key facts
- Verizon's revolving credit facility capacity is $12,000 million with unused capacity of $11,976 million and no principal amount outstanding as of June 30, 2026. source
- Various export credit facilities have total facility capacity of $11,950 million, unused capacity of $5,718 million and principal amount outstanding of $5,718 million with maturities from 2026 to 2033. source
- During the six months ended June 30, 2026, Verizon drew down approximately $1.6 billion from certain export credit facilities; there were no drawings during the six months ended June 30, 2025. source
- Average debt outstanding for the three months ended June 30, 2026: $170,098 million compared to $144,695 million for the three months ended June 30, 2025. source
- The decrease in cash, cash equivalents and restricted cash was $(17,195) million for the six months ended June 30, 2026 compared to $(704) million for the six months ended June 30, 2025, a change of $(16,491) million. source
- Proceeds from asset-backed long-term borrowings were $12.0 billion and proceeds from long-term borrowings were $9.9 billion during the six months ended June 30, 2026. source
- At June 30, 2026, total debt was $165.2 billion, including unsecured debt of $136.5 billion and secured debt of $28.8 billion. source
- At December 31, 2025, total debt was $158.2 billion, including unsecured debt of $131.1 billion and secured debt of $27.1 billion. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -6.2% | Average debt outstanding for the three months ended June 30, 2026: $170,098 million compared to $144,695 million for the three months… |
| cash | positive | realized | +2.9% | Proceeds from asset-backed long-term borrowings were $12.0 billion and proceeds from long-term borrowings were $9.9 billion during the six… |
| liability | negative | realized | -2.9% | Proceeds from asset-backed long-term borrowings were $12.0 billion and proceeds from long-term borrowings were $9.9 billion during the six… |
| cash | positive | realized | +2.4% | Proceeds from asset-backed long-term borrowings were $12.0 billion and proceeds from long-term borrowings were $9.9 billion during the six… |
| liability | negative | realized | -2.4% | Proceeds from asset-backed long-term borrowings were $12.0 billion and proceeds from long-term borrowings were $9.9 billion during the six… |
| liability | negative | realized | -0.4% | During the six months ended June 30, 2026, Verizon drew down approximately $1.6 billion from certain export credit facilities; there were… |
| cash | positive | realized | +0.4% | During the six months ended June 30, 2026, Verizon drew down approximately $1.6 billion from certain export credit facilities; there were… |
| liability | negative | realized | — | Various export credit facilities have total facility capacity of $11,950 million, unused capacity of $5,718 million and principal amount… |
| liability | negative | realized | — | At June 30, 2026, total debt was $165.2 billion, including unsecured debt of $136.5 billion and secured debt of $28.8 billion. |