XML 85 R61.htm IDEA: XBRL DOCUMENT v3.24.2
Fair Value Measurements and Financial Instruments - Schedule of Designated Derivative Activity (Details) - Designated as Hedging Instrument - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest rate swaps | Fair Value Hedges        
Derivative [Line Items]        
Notional value entered into $ 0 $ 0 $ 0 $ 0
Notional value settled 0 0 0 0
Interest rate swaps | Fair Value Hedges | Interest Expense        
Derivative [Line Items]        
Pre-tax gain recognized in Interest expense 1 2 3 1
Cross currency swaps | Fair Value Hedges        
Derivative [Line Items]        
Notional value entered into 0 0 2,146 0
Notional value settled 552 612 3,619 1,450
Exchange gains (losses) from the conversion of foreign currency denominated as debt (92) 370 (834) 725
Excluded component (116) 420 166 42
Cash received (paid) for settlement of derivatives     (243) (67)
Cross currency swaps | Fair Value Hedges | Verizon Stated And Floating Rate Notes and Bonds        
Derivative [Line Items]        
Exchange gains (losses) from the conversion of foreign currency denominated as debt 92 (370) 834 (725)
Cross currency swaps | Fair Value Hedges | Interest Expense        
Derivative [Line Items]        
Excluded component 24 27 50 54
Treasury rate locks | Cash Flow Hedging        
Derivative [Line Items]        
Notional value entered into 0 500 0 500
Notional value settled 0 500 0 500
Pre-tax gain (loss) recognized in Other income (expense), net $ 0 $ 5 0 5
Cash received (paid) for settlement of derivatives     $ 0 $ 5