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