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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Operating Revenues        
Operating Revenues $ 32,203 $ 30,548 $ 63,975 $ 60,362
Operating Expenses        
Selling, general and administrative expense (including net gain on sale of divested businesses of $1,774 for the three and six months ended June 30, 2017) 7,605 5,883 14,449 12,629
Depreciation and amortization expense 4,350 4,167 8,674 8,226
Total Operating Expenses 25,586 22,534 50,009 45,386
Operating Income 6,617 8,014 13,966 14,976
Equity in losses of unconsolidated businesses (228) (28) (247) (49)
Other income (expense), net 360 199 285 (428)
Interest expense (1,222) (1,218) (2,423) (2,350)
Income Before Provision For Income Taxes 5,527 6,967 11,581 12,149
Provision for income taxes (1,281) (2,489) (2,669) (4,118)
Net Income 4,246 4,478 8,912 8,031
Net income attributable to noncontrolling interests 126 116 247 219
Net income attributable to Verizon 4,120 4,362 8,665 7,812
Net Income $ 4,246 $ 4,478 $ 8,912 $ 8,031
Basic Earnings Per Common Share        
Net income attributable to Verizon (USD per share) $ 1.00 $ 1.07 $ 2.10 $ 1.91
Weighted-average shares outstanding (in shares) 4,135 4,082 4,120 4,082
Diluted Earnings Per Common Share        
Net income attributable to Verizon (USD per share) $ 1.00 $ 1.07 $ 2.10 $ 1.91
Weighted-average shares outstanding (in shares) 4,139 4,087 4,123 4,088
Dividends declared per common share (USD per share) $ 0.59 $ 0.5775 $ 1.18 $ 1.155
Service and Other        
Operating Revenues        
Operating Revenues $ 27,159 $ 26,250 $ 53,891 $ 52,300
Service        
Operating Expenses        
Cost of services and equipment 8,234 7,449 16,180 14,688
Wireless equipment        
Operating Revenues        
Operating Revenues 5,044 4,298 10,084 8,062
Operating Expenses        
Cost of services and equipment $ 5,397 $ 5,035 $ 10,706 $ 9,843