XML 49 R24.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Equity and Comprehensive Income (Loss) | 12 Months Ended
--- | ---
Dec. 31, 2024
Equity [Abstract] |
Equity and Comprehensive Income (Loss) |
Note 14. Equity and Comprehensive Income (Loss)
Equity Common Stock In February 2020, the Board of Directors of the Company authorized a share buyback program to repurchase up to 100 million shares of our common stock. The program will terminate when the aggregate number of shares purchased reaches 100 million or a new share repurchase plan superseding the current plan is authorized, whichever is sooner. During the years ended December 31, 2024, 2023, and 2022, we did not repurchase any shares of our common stock under our authorized share buyback program. At December 31, 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. During the years ended December 31, 2024, 2023, and 2022, we issued 5.4 million, 4.4 million and 2.1 million shares of common stock from treasury stock, which had aggregate values of $238 million, $192 million and $91 million, respectively. Noncontrolling Interests During the year ended December 31, 2024, Verizon entered into and completed agreements to acquire additional interests in certain controlled entities for cash consideration of $280 million. 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 $228 million, reflected in Other, and a reduction of noncontrolling interest of $52 million, reflected in Distributions and other, both within our consolidated statement of changes in equity for the year ended December 31, 2024. These transactions were recorded within Other, net cash flow from financing activities in our consolidated statement of cash flows for the year ended December 31, 2024. Accumulated Other Comprehensive Income (Loss) Comprehensive income consists of net income and other gains and losses affecting equity that, under U.S. GAAP, are excluded from net income. Significant changes in the components of Other comprehensive income (loss), net of provision for income taxes are described below. The changes in the balances of Accumulated other comprehensive income (loss) by component are 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, 2022 | $ | (545) |  |  | $ | (1,472) |  |  | $ | — |  |  | $ | 16 |  |  | $ | 1,074 |  |  | $ | (927) |
Excluded components recognized in other comprehensive income | — |  |  | — |  |  | (371) |  |  | — |  |  | — |  |  | (371) |
Other comprehensive loss | (153) |  |  | (174) |  |  | — |  |  | (25) |  |  | (317) |  |  | (669) |
Amounts reclassified to net income | — |  |  | 496 |  |  | (60) |  |  | — |  |  | (334) |  |  | 102 |
Net other comprehensive income (loss) | (153) |  |  | 322 |  |  | (431) |  |  | (25) |  |  | (651) |  |  | (938) |
Balance at December 31, 2022 | (698) |  |  | (1,150) |  |  | (431) |  |  | (9) |  |  | 423 |  |  | (1,865) |
Excluded components recognized in other comprehensive income | — |  |  | — |  |  | 617 |  |  | — |  |  | — |  |  | 617 |
Other comprehensive income | 62 |  |  | 3 |  |  | — |  |  | 5 |  |  | — |  |  | 70 |
Amounts reclassified to net income | — |  |  | 85 |  |  | (81) |  |  | 2 |  |  | (208) |  |  | (202) |
Net other comprehensive income (loss) | 62 |  |  | 88 |  |  | 536 |  |  | 7 |  |  | (208) |  |  | 485 |
Balance at December 31, 2023 | (636) |  |  | (1,062) |  |  | 105 |  |  | (2) |  |  | 215 |  |  | (1,380) |
Excluded components recognized in other comprehensive income | — |  |  | — |  |  | 547 |  |  | — |  |  | — |  |  | 547 |
Other comprehensive loss | (97) |  |  | (16) |  |  | — |  |  | (3) |  |  | — |  |  | (116) |
Amounts reclassified to net income | — |  |  | 97 |  |  | (63) |  |  | — |  |  | (8) |  |  | 26 |
Net other comprehensive income (loss) | (97) |  |  | 81 |  |  | 484 |  |  | (3) |  |  | (8) |  |  | 457 |
Balance at December 31, 2024 | $ | (733) |  |  | $ | (981) |  |  | $ | 589 |  |  | $ | (5) |  |  | $ | 207 |  |  | $ | (923) |
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 consolidated statements of income. See Note 9 for additional information. The amounts reclassified to net income related to unrealized gain (loss) on marketable securities in the table above are included in Other income (expense), net in our consolidated statements of income. The amounts reclassified to net income related to defined benefit pension and postretirement plans in the table above are included in Other income (expense), net in our consolidated statements of income. See Note 11 for additional information.

X
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration