Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Operating Information

Our segments and their principal activities consist of the following:

Segment	Description
Verizon Consumer Group	Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the U.S. under the Verizon brand and through wholesale and other arrangements. Our wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over our 100% fiber-optic network by our Verizon Fios product portfolio and over a traditional copper-based network to customers who are not served by Fios.
Verizon Business Group	Our Business segment provides wireless and wireline communications services and products, including data, video and conferencing services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various IoT services and products. We provide these products and services to businesses, government customers and wireless and wireline carriers across the U.S. and select products and services to customers around the world.

The following table provides operating financial information for our two reportable segments:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(dollars in millions)	2020		2019		2020		2019
External Operating Revenues
Consumer
Service	$	15,898	$	16,350	$	32,241	$	32,611
Wireless equipment	3,209		3,904		6,586		8,070
Other	1,946		1,680		3,932		3,350
Total Consumer	21,053		21,934		42,759		44,031
Business
Small and Medium Business	2,597		2,781		5,395		5,485
Global Enterprise	2,587		2,673		5,217		5,363
Public Sector and Other	1,523		1,492		2,997		2,963
Wholesale	756		810		1,516		1,650
Total Business	7,463		7,756		15,125		15,461
Total reportable segments	$	28,516	$	29,690	$	57,884	$	59,492
Intersegment Revenues
Consumer	$	60	$	61	$	119	$	112
Business	19		12		38		26
Total reportable segments	$	79	$	73	$	157	$	138
Total Operating Revenues
Consumer	$	21,113	$	21,995	$	42,878	$	44,143
Business(1)	7,482		7,768		15,163		15,487
Total reportable segments	$	28,595	$	29,763	$	58,041	$	59,630
Operating Income
Consumer	$	7,064	$	7,336	$	14,346	$	14,586
Business	946		1,071		1,900		2,119
Total reportable segments	$	8,010	$	8,407	$	16,246	$	16,705

⁽¹⁾ Service and other revenues included in our Business segment amounted to approximately $7.0 billion for both the three months ended June 30, 2020 and 2019. Service and other revenues included in our Business segment amounted to approximately $13.9 billion for both the six months ended June 30, 2020 and 2019. Wireless equipment revenues included in our Business segment amounted to approximately $546 million and $1.3 billion for the three and six months ended June 30, 2020, respectively, and approximately $814 million and $1.6 billion for the three and six months ended June 30, 2019, respectively.

The following table provides Fios revenue for our two reportable segments:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(dollars in millions)	2020		2019		2020		2019
Consumer	$	2,754	$	2,772	$	5,553	$	5,536
Business	260		239		522		482
Total Fios revenue	$	3,014	$	3,011	$	6,075	$	6,018

The following table provides Wireless service revenue for our reportable segments and includes intersegment activity:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(dollars in millions)	2020		2019		2020		2019
Consumer	$	13,087	$	13,456	$	26,563	$	26,813
Business	2,861		2,775		5,742		5,469
Total Wireless service revenue	$	15,948	$	16,231	$	32,305	$	32,282

Summary of Reconciliation of Segment Operating Revenues

A reconciliation of the reportable segment operating revenues to consolidated operating revenues is as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(dollars in millions)	2020		2019		2020		2019
Total reportable segment operating revenues	$	28,595	$	29,763	$	58,041	$	59,630
Corporate and other	1,967		2,412		4,239		4,747
Eliminations	(115)		(104)		(223)		(178)
Total consolidated operating revenues	$	30,447	$	32,071	$	62,057	$	64,199

Summary of Reconciliation of Segment Operating Income

A reconciliation of the total reportable segment's operating income to consolidated income before provision for income taxes is as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(dollars in millions)	2020		2019		2020		2019
Total reportable segment operating income	$	8,010	$	8,407	$	16,246	$	16,705
Corporate and other	(445)		(354)		(704)		(740)
Other components of net periodic benefit charges (Note 8)	(204)		(203)		(407)		(406)
Loss on spectrum license transaction (Note 3)	—		—		(1,195)		—
Total consolidated 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