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Equity and Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 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 September 30,
									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									13,539												13,523
Other(1)									(60)												1
Balance at end of period									13,479												13,524
Retained Earnings
Balance at beginning of period									86,504												86,448
Net income attributable to Verizon									3,306												4,762
Dividends declared ($0.6775, $0.6650 per share)									(2,852)												(2,796)
Other									—												2
Balance at end of period									86,958												88,416
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon									(1,287)												(1,921)
Foreign currency translation adjustments									59												(51)
Unrealized gain on cash flow hedges									6												21
Unrealized gain (loss) on fair value hedges									(446)												584
Unrealized gain (loss) on marketable securities									5												(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 plans			107						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 period									577												544
Restricted stock equity grant									140												89
Amortization									(7)												(5)
Balance at end of period									710												628
Noncontrolling Interests
Balance at beginning of period									1,367												1,309
Total comprehensive income									105												122
Distributions and other(1)									(130)												(84)
Balance at end of period									1,342												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,
									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(1)									(152)												104
Balance at end of period									13,479												13,524
Retained Earnings
Balance at beginning of period									82,915												82,380
Net income attributable to Verizon									12,501												14,319
Dividends declared ($2.0075, $1.9700 per share)									(8,454)												(8,285)
Other									(4)												2
Balance at end of period									86,958												88,416
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon									(1,380)												(1,865)
Foreign currency translation adjustments									9												(31)
Unrealized gain on cash flow hedges									60												67
Unrealized gain (loss) on fair value hedges									(350)												575
Unrealized gain (loss) on marketable securities									2												(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 plans			5,364						236						4,237						185
Shareholder plans			2						—						3						—
Balance at end of period			(81,807)						(3,585)						(87,332)						(3,828)
Deferred Compensation-ESOPs and Other
Balance at beginning of period									656												793
Restricted stock equity grant									415												225
Amortization									(361)												(390)
Balance at end of period									710												628
Noncontrolling Interests
Balance at beginning of period									1,369												1,319
Total comprehensive income									334												349
Distributions and other(1)									(361)												(321)
Balance at end of period									1,342												1,347
Total Equity									$	97,668											$	99,088

(1) 2024 period includes adjustments related to the acquisition of additional interests in certain controlled entities.

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 gain (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			—						—												(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)

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

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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

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