ConsolidatedBalanceSheets (dollars in millions, except per share amounts) At December 31, 2017 2016 Assets Current assets Cash and cash equivalents $ 2,079 $ 2,880 Accounts receivable, net of allowances of $939 and $845 23,493 17,513 Inventories 1,034 1,202 Assets held for sale 882 Prepaid expenses and other 3,307 3,918 Total current assets 29,913 26,395 Property, plant and equipment 246,498 232,215 Less accumulated depreciation 157,930 147,464 Property, plant and equipment, net 88,568 84,751 Investments in unconsolidated businesses 1,039 1,110 Wireless licenses 88,417 86,673 Goodwill 29,172 27,205 Other intangible assets, net 10,247 8,897 Non-current assets held for sale 613 Other assets 9,787 8,536 Total assets $ 257,143 $ 244,180 Liabilities and Equity Current liabilities Debt maturing within one year $ 3,453 $ 2,645 Accounts payable and accrued liabilities 21,232 19,593 Other 8,352 8,102 Total current liabilities 33,037 30,340 Long-term debt 113,642 105,433 Employee benefit obligations 22,112 26,166 Deferred income taxes 31,232 45,964 Other liabilities 12,433 12,245 Total long-term liabilities 179,419 189,808 Commitments and Contingencies (Note 15) Equity Series preferred stock ($.10 par value 250,000,000 shares authorized none issued) Common stock ($.10 par value 6,250,000,000 shares authorized in each period 4,242,374,240 shares issued in each period) 424 424 Additional paid in capital 11,101 11,182 Retained earnings 35,635 15,059 Accumulated other comprehensive income 2,659 2,673 Common stock in treasury, at cost (162,897,868 and 165,689,589 shares outstanding) (7,139) (7,263) Deferred compensation employee stock ownership plans and other 416 449 Noncontrolling interests 1,591 1,508 Total equity 44,687 24,032 Total liabilities and equity $ 257,143 $ 244,180 See Notes to Consolidated Financial Statements 2017 Annual Report | Verizon Communications Inc. and Subsidiaries 49
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