XML 51 R30.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Equity and Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Stockholders' Equity Note [Abstract] |
Schedule of Changes in Components of Total Equity | Changes in the components of Total equity were as follows:
| Three Months Ended March 31, |
|  |  | 2024 |  |  |  | 2023 |
(dollars in millions, except per share amounts, and shares in thousands) | 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 |  |  | 13,631 |  |  |  |  | 13,420 |  |
Other |  |  | (60) |  |  |  |  | 103 |  |
Balance at end of period |  |  | 13,571 |  |  |  |  | 13,523 |  |
Retained Earnings |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | 82,915 |  |  |  |  | 82,380 |  |
Net income attributable to Verizon |  |  | 4,602 |  |  |  |  | 4,909 |  |
Dividends declared ($0.6650, $0.6525 per share) |  |  | (2,799) |  |  |  |  | (2,746) |  |
Other |  |  | (4) |  |  |  |  | — |  |
Balance at end of period |  |  | 84,714 |  |  |  |  | 84,543 |  |
Accumulated Other Comprehensive Loss |  |  |  |  |  |  |  |
Balance at beginning of period attributable to Verizon |  |  | (1,380) |  |  |  |  | (1,865) |  |
Foreign currency translation adjustments |  |  | (50) |  |  |  |  | 26 |  |
Unrealized gain on cash flow hedges |  |  | 35 |  |  |  |  | 21 |  |
Unrealized gain (loss) on fair value hedges |  |  | 200 |  |  |  |  | (302) |  |
Unrealized gain (loss) on marketable securities |  |  | (2) |  |  |  |  | 4 |  |
Defined benefit pension and postretirement plans |  |  | (2) |  |  |  |  | (61) |  |
Other comprehensive income (loss) |  |  | 181 |  |  |  |  | (312) |  |
Balance at end of period attributable to Verizon |  |  | (1,199) |  |  |  |  | (2,177) |  |
Treasury Stock |  |  |  |  |  |  |  |
Balance at beginning of period | (87,173) |  |  | (3,821) |  |  | (91,572) |  |  | (4,013) |  |
Employee plans | 4,992 |  |  | 219 |  |  | 4,127 |  |  | 181 |  |
Shareholder plans | 2 |  |  | — |  |  | 3 |  |  | — |  |
Balance at end of period | (82,179) |  |  | (3,602) |  |  | (87,442) |  |  | (3,832) |  |
Deferred Compensation-ESOPs and Other |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | 656 |  |  |  |  | 793 |  |
Restricted stock equity grant |  |  | 102 |  |  |  |  | (14) |  |
Amortization |  |  | (337) |  |  |  |  | (382) |  |
Balance at end of period |  |  | 421 |  |  |  |  | 397 |  |
Noncontrolling Interests |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | 1,369 |  |  |  |  | 1,319 |  |
Total comprehensive income |  |  | 120 |  |  |  |  | 109 |  |
Distributions and other |  |  | (97) |  |  |  |  | (92) |  |
Balance at end of period |  |  | 1,392 |  |  |  |  | 1,336 |  |
Total Equity |  |  | $ | 95,726 |  |  |  |  | $ | 94,219 |  |
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 gain (loss) on fair value hedges |  | Unrealized loss on marketable securities |  | Defined benefit pension and postretirement plans |  | Total
Balance at January 1, 2024 | $ | (636) |  |  | $ | (1,062) |  |  |  |  | $ | 105 |  |  | $ | (2) |  |  | $ | 215 |  |  | $ | (1,380) |
Excluded components recognized in other comprehensive income | — |  |  | — |  |  |  |  | 211 |  |  | — |  |  | — |  |  | 211 |
Other comprehensive loss | (50) |  |  | — |  |  |  |  | — |  |  | (2) |  |  | — |  |  | (52) |
Amounts reclassified to net income | — |  |  | 35 |  |  |  |  | (11) |  |  | — |  |  | (2) |  |  | 22 |
Net other comprehensive income (loss) | (50) |  |  | 35 |  |  |  |  | 200 |  |  | (2) |  |  | (2) |  |  | 181 |
Balance at March 31, 2024 | $ | (686) |  |  | $ | (1,027) |  |  |  |  | $ | 305 |  |  | $ | (4) |  |  | $ | 213 |  |  | $ | (1,199) |

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration