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Equity and Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended
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Mar. 31, 2023
Stockholders' Equity Note [Abstract] |
Schedule of Changes in Components of Total Equity | Changes in the components of Total equity were as follows:
(dollars in millions, except per share amounts, and shares in thousands)
Three months ended March 31, | 2023 |  |  |  | 2022 |  |  |
| Shares |  | Amount |  | Shares |  | Amount |
Common Stock |  |  |  |  |  |  |  |
Balance at beginning of period | 4,291,434 |  |  | $ | 429 |  |  | 4,291,434 |  |  | $ | 429 |  |
Balance at end of period | 4,291,434 |  |  | 429 |  |  | 4,291,434 |  |  | 429 |  |
Additional Paid In Capital |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | 13,420 |  |  |  |  | 13,861 |  |
Other |  |  | 103 |  |  |  |  | 13 |  |
Balance at end of period |  |  | 13,523 |  |  |  |  | 13,874 |  |
Retained Earnings |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | 82,380 |  |  |  |  | 71,993 |  |
Net income attributable to Verizon |  |  | 4,909 |  |  |  |  | 4,580 |  |
Dividends declared ($0.6525, $0.6400 per share) |  |  | (2,746) |  |  |  |  | (2,692) |  |
Other |  |  | — |  |  |  |  | 10 |  |
Balance at end of period |  |  | 84,543 |  |  |  |  | 73,891 |  |
Accumulated Other Comprehensive Loss |  |  |  |  |  |  |  |
Balance at beginning of period attributable to Verizon |  |  | (1,865) |  |  |  |  | (927) |  |
Foreign currency translation adjustments |  |  | 26 |  |  |  |  | (29) |  |
Unrealized gain on cash flow hedges |  |  | 21 |  |  |  |  | 207 |  |
Unrealized loss on fair value hedges |  |  | (302) |  |  |  |  | — |  |
Unrealized gain (loss) on marketable securities |  |  | 4 |  |  |  |  | (18) |  |
Defined benefit pension and postretirement plans |  |  | (61) |  |  |  |  | (139) |  |
Other comprehensive income (loss) |  |  | (312) |  |  |  |  | 21 |  |
Balance at end of period attributable to Verizon |  |  | (2,177) |  |  |  |  | (906) |  |
Treasury Stock |  |  |  |  |  |  |  |
Balance at beginning of period | (91,572) |  |  | (4,013) |  |  | (93,635) |  |  | (4,104) |  |
Employee plans | 4,127 |  |  | 181 |  |  | 1,842 |  |  | 81 |  |
Shareholder plans | 3 |  |  | — |  |  | 3 |  |  | — |  |
Balance at end of period | (87,442) |  |  | (3,832) |  |  | (91,790) |  |  | (4,023) |  |
Deferred Compensation-ESOPs and Other |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | 793 |  |  |  |  | 538 |  |
Restricted stock equity grant |  |  | (14) |  |  |  |  | 109 |  |
Amortization |  |  | (382) |  |  |  |  | (150) |  |
Balance at end of period |  |  | 397 |  |  |  |  | 497 |  |
Noncontrolling Interests |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | 1,319 |  |  |  |  | 1,410 |  |
Total comprehensive income |  |  | 109 |  |  |  |  | 131 |  |
Distributions and other |  |  | (92) |  |  |  |  | (128) |  |
Balance at end of period |  |  | 1,336 |  |  |  |  | 1,413 |  |
Total Equity |  |  | $ | 94,219 |  |  |  |  | $ | 85,175 |  |
Schedule of Components in Accumulated Other Comprehensive Income | The changes in the balances of Accumulated other comprehensive loss by component were as follows:
(dollars in millions) | Foreign currency translation adjustments |  | Unrealized gain (loss) on cash flow hedges |  |  |  | Unrealized loss on fair value hedges |  | Unrealized gain (loss) on marketable securities |  | Defined benefit pension and postretirement plans |  | Total
Balance at January 1, 2023 | $ | (698) |  |  | $ | (1,150) |  |  |  |  | $ | (431) |  |  | $ | (9) |  |  | $ | 423 |  |  | $ | (1,865) |
Excluded components recognized in other comprehensive income | — |  |  | — |  |  |  |  | (282) |  |  | — |  |  | — |  |  | (282) |
Other comprehensive income | 26 |  |  | — |  |  |  |  | — |  |  | 4 |  |  | — |  |  | 30 |
Amounts reclassified to net income | — |  |  | 21 |  |  |  |  | (20) |  |  | — |  |  | (61) |  |  | (60) |
Net other comprehensive income (loss) | 26 |  |  | 21 |  |  |  |  | (302) |  |  | 4 |  |  | (61) |  |  | (312) |
Balance at March 31, 2023 | $ | (672) |  |  | $ | (1,129) |  |  |  |  | $ | (733) |  |  | $ | (5) |  |  | $ | 362 |  |  | $ | (2,177) |

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