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Equity and Accumulated Other Comprehensive Loss
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Equity and Accumulated Other Comprehensive Loss
Note 9. Equity and Accumulated Other Comprehensive Loss
Equity
Changes in the components of Total equity were as follows:
Three Months Ended June 30,
20242023
(dollars in millions, except per share amounts, and shares in thousands)SharesAmountSharesAmount
Common Stock
Balance at beginning of period4,291,434 $429 4,291,434 $429 
Balance at end of period4,291,434 429 4,291,434 429 
Additional Paid In Capital
Balance at beginning of period13,571 13,523 
Other(32)— 
Balance at end of period13,539 13,523 
Retained Earnings
Balance at beginning of period84,714 84,543 
Net income attributable to Verizon4,593 4,648 
Dividends declared ($0.6650, $0.6525 per share)
(2,803)(2,743)
Balance at end of period86,504 86,448 
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon(1,199)(2,177)
Foreign currency translation adjustments— (6)
Unrealized gain on cash flow hedges19 25 
Unrealized gain (loss) on fair value hedges(104)293 
Unrealized loss on marketable securities(1)(2)
Defined benefit pension and postretirement plans(2)(54)
Other comprehensive income (loss)(88)256 
Balance at end of period attributable to Verizon(1,287)(1,921)
Treasury Stock
Balance at beginning of period(82,179)(3,602)(87,442)(3,832)
Employee plans265 12 48 2 
Balance at end of period(81,914)(3,590)(87,394)(3,830)
Deferred Compensation-ESOPs and Other
Balance at beginning of period421 397 
Restricted stock equity grant173 150 
Amortization(17)(3)
Balance at end of period577 544 
Noncontrolling Interests
Balance at beginning of period1,392 1,336 
Total comprehensive income109 118 
Distributions and other(134)(145)
Balance at end of period1,367 1,309 
Total Equity$97,539 $96,502 
Six Months Ended June 30,
20242023
(dollars in millions, except per share amounts, and shares in thousands)SharesAmountSharesAmount
Common Stock
Balance at beginning of period4,291,434 $429 4,291,434 $429 
Balance at end of period4,291,434 429 4,291,434 429 
Additional Paid In Capital
Balance at beginning of period13,631 13,420 
Other(92)103 
Balance at end of period13,539 13,523 
Retained Earnings
Balance at beginning of period82,915 82,380 
Net income attributable to Verizon9,195 9,557 
Dividends declared ($1.3300, $1.3050 per share)
(5,602)(5,489)
Other(4)— 
Balance at end of period86,504 86,448 
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon(1,380)(1,865)
Foreign currency translation adjustments(50)20 
Unrealized gain on cash flow hedges54 46 
Unrealized gain (loss) on fair value hedges96 (9)
Unrealized gain (loss) on marketable securities(3)2 
Defined benefit pension and postretirement plans(4)(115)
Other comprehensive income (loss)93 (56)
Balance at end of period attributable to Verizon(1,287)(1,921)
Treasury Stock
Balance at beginning of period(87,173)(3,821)(91,572)(4,013)
Employee plans5,257 231 4,175 183 
Shareholder plans2 — 3 — 
Balance at end of period(81,914)(3,590)(87,394)(3,830)
Deferred Compensation-ESOPs and Other
Balance at beginning of period656 793 
Restricted stock equity grant275 136 
Amortization(354)(385)
Balance at end of period577 544 
Noncontrolling Interests
Balance at beginning of period1,369 1,319 
Total comprehensive income229 227 
Distributions and other(231)(237)
Balance at end of period1,367 1,309 
Total Equity$97,539 $96,502 
Common Stock
Verizon did not repurchase any shares of the Company's common stock through its previously authorized share buyback program during the six months ended June 30, 2024. At June 30, 2024, the maximum number of shares that could be purchased by or on behalf of Verizon under our share buyback program was 100 million.

Common stock has been used from time to time to satisfy some of the funding requirements of employee and shareholder plans, including 5.3 million shares of common stock issued from treasury stock during the six months ended June 30, 2024.
Accumulated Other Comprehensive Loss
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 hedgesUnrealized gain (loss) on fair value hedgesUnrealized loss on marketable securitiesDefined benefit pension and postretirement plansTotal
Balance at January 1, 2024$(636)$(1,062)$105 $(2)$215 $(1,380)
Excluded components recognized in other comprehensive income — — 124 — — 124 
Other comprehensive loss(50)— — (3)— (53)
Amounts reclassified to net income— 54 (28)— (4)22 
Net other comprehensive income (loss)(50)54 96 (3)(4)93 
Balance at June 30, 2024$(686)$(1,008)$201 $(5)$211 $(1,287)

The amounts presented above in Net other comprehensive income (loss) are net of taxes. The amounts reclassified to net income related to unrealized gain (loss) on cash flow hedges and unrealized gain (loss) on fair value hedges in the table above are included in Other income (expense), net and Interest expense in our condensed consolidated statements of income. See Note 7 for additional information. The amounts reclassified to net income related to unrealized loss on marketable securities and defined benefit pension and postretirement plans in the table above are included in Other income (expense), net in our condensed consolidated statements of income. See Note 8 for additional information.