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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating Revenues        
Operating Revenues $ 30,447 $ 32,071 $ 62,057 $ 64,199
Operating Expenses        
Selling, general and administrative expense 7,156 7,268 15,741 14,466
Depreciation and amortization expense 4,181 4,232 8,331 8,463
Total Operating Expenses 23,086 24,221 48,117 48,640
Operating Income 7,361 7,850 13,940 15,559
Equity in losses of unconsolidated businesses (13) (13) (25) (19)
Other income (expense), net (72) (1,312) 71 (1,017)
Interest expense (1,089) (1,215) (2,123) (2,425)
Income Before Provision For Income Taxes 6,187 5,310 11,863 12,098
Provision for income taxes (1,348) (1,236) (2,737) (2,864)
Net Income 4,839 4,074 9,126 9,234
Net income attributable to noncontrolling interests 139 130 270 258
Net income attributable to Verizon 4,700 3,944 8,856 8,976
Net Income $ 4,839 $ 4,074 $ 9,126 $ 9,234
Basic Earnings Per Common Share        
Net income attributable to Verizon (USD per share) $ 1.14 $ 0.95 $ 2.14 $ 2.17
Weighted-average shares outstanding (in shares) 4,139 4,138 4,139 4,138
Diluted Earnings Per Common Share        
Net income attributable to Verizon (USD per share) $ 1.13 $ 0.95 $ 2.14 $ 2.17
Weighted-average shares outstanding (in shares) 4,141 4,139 4,141 4,140
Service and Other        
Operating Revenues        
Operating Revenues $ 26,692 $ 27,351 $ 54,173 $ 54,548
Service        
Operating Expenses        
Cost of services and equipment 7,639 7,702 15,393 15,494
Wireless equipment        
Operating Revenues        
Operating Revenues 3,755 4,720 7,884 9,651
Operating Expenses        
Cost of services and equipment $ 4,110 $ 5,019 $ 8,652 $ 10,217