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Equity and Accumulated Other Comprehensive Loss
 9 Months Ended
Sep. 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 September 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 period13,539 13,523 
Other(1)
(60)1 
Balance at end of period13,479 13,524 
Retained Earnings
Balance at beginning of period86,504 86,448 
Net income attributable to Verizon3,306 4,762 
Dividends declared ($0.6775, $0.6650 per share)
(2,852)(2,796)
Other— 2 
Balance at end of period86,958 88,416 
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon(1,287)(1,921)
Foreign currency translation adjustments59 (51)
Unrealized gain on cash flow hedges6 21 
Unrealized gain (loss) on fair value hedges(446)584 
Unrealized gain (loss) on marketable securities5 (5)
Defined benefit pension and postretirement plans(2)(56)
Other comprehensive income (loss)(378)493 
Balance at end of period attributable to Verizon(1,665)(1,428)
Treasury Stock
Balance at beginning of period(81,914)(3,590)(87,394)(3,830)
Employee plans107 5 62 2 
Balance at end of period(81,807)(3,585)(87,332)(3,828)
Deferred Compensation-ESOPs and Other
Balance at beginning of period577 544 
Restricted stock equity grant140 89 
Amortization(7)(5)
Balance at end of period710 628 
Noncontrolling Interests
Balance at beginning of period1,367 1,309 
Total comprehensive income105 122 
Distributions and other(1)
(130)(84)
Balance at end of period1,342 1,347 
Total Equity$97,668 $99,088 
(1) 2024 period includes adjustments related to the acquisition of additional interests in certain controlled entities.
Nine Months Ended September 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(1)
(152)104 
Balance at end of period13,479 13,524 
Retained Earnings
Balance at beginning of period82,915 82,380 
Net income attributable to Verizon12,501 14,319 
Dividends declared ($2.0075, $1.9700 per share)
(8,454)(8,285)
Other(4)2 
Balance at end of period86,958 88,416 
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon(1,380)(1,865)
Foreign currency translation adjustments9 (31)
Unrealized gain on cash flow hedges60 67 
Unrealized gain (loss) on fair value hedges(350)575 
Unrealized gain (loss) on marketable securities2 (3)
Defined benefit pension and postretirement plans(6)(171)
Other comprehensive income (loss)(285)437 
Balance at end of period attributable to Verizon(1,665)(1,428)
Treasury Stock
Balance at beginning of period(87,173)(3,821)(91,572)(4,013)
Employee plans5,364 236 4,237 185 
Shareholder plans2 — 3 — 
Balance at end of period(81,807)(3,585)(87,332)(3,828)
Deferred Compensation-ESOPs and Other
Balance at beginning of period656 793 
Restricted stock equity grant415 225 
Amortization(361)(390)
Balance at end of period710 628 
Noncontrolling Interests
Balance at beginning of period1,369 1,319 
Total comprehensive income334 349 
Distributions and other(1)
(361)(321)
Balance at end of period1,342 1,347 
Total Equity$97,668 $99,088 
(1) 2024 period includes adjustments related to the acquisition of additional interests in certain controlled entities.

Common Stock
Verizon did not repurchase any shares of the Company's common stock through its previously authorized share buyback program during the nine months ended September 30, 2024. At September 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 5.4 million shares of common stock issued from treasury stock during the nine months ended September 30, 2024.
Noncontrolling Interests
During the three and nine months ended September 30, 2024, Verizon entered into and completed agreements to acquire additional interests in certain controlled entities for cash consideration of $124 million and $266 million, respectively. Verizon continues to retain controlling financial interest within these entities; therefore, the changes in ownership interest were accounted for as equity transactions. This resulted in a reduction of additional paid-in capital of $87 million and $213 million and noncontrolling interest of an insignificant amount and $53 million for the three and nine months ended September 30, 2024, respectively. These transactions were recorded within Other, net cash flow from financing activities in our condensed consolidated statement of cash flows for the nine months ended September 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 gain (loss) on marketable securitiesDefined benefit pension and postretirement plansTotal
Balance at January 1, 2024$(636)$(1,062)$105 $(2)$215 $(1,380)
Excluded components recognized in other comprehensive income — — (304)— — (304)
Other comprehensive income (loss)9 (16)— 2 — (5)
Amounts reclassified to net income— 76 (46)— (6)24 
Net other comprehensive income (loss)9 60 (350)2 (6)(285)
Balance at September 30, 2024$(627)$(1,002)$(245)$— $209 $(1,665)

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, 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 gain (loss) on marketable securities and defined benefit pension and postretirement plans in the table above are included in Other income, net in our condensed consolidated statements of income. See Note 8 for additional information.