Getting all Licensed Office 365 users with PowerShell

Quite often, it is required to have an overview of all the licensed users within an Office 365 tenant. Using PowerShell and the Office 365 cmdlets, it is possible to get a list of users (licensed and/or without license) for further analysis (for example for reporting purposes).

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Office 365
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Verified on the following platforms
Windows 10 Yes
Windows Server 2012 Yes
Windows Server 2012 R2 No
Windows Server 2008 R2 Yes
Windows Server 2008 Yes
Windows Server 2003 No
Windows Server 2016 No
Windows 8 Yes
Windows 7 Yes
Windows Vista No
Windows XP No
Windows 2000 No
This script is tested on these platforms by the author. It is likely to work on other platforms as well. If you try it and find that it works on another platform, please add a note to the script discussion to let others know.