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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating Revenues        
Operating Revenues $ 31,543 $ 32,894 $ 93,600 $ 97,093
Operating Expenses        
Selling, general and administrative expense 7,339 7,216 23,080 21,682
Depreciation and amortization expense 4,192 4,114 12,523 12,577
Total Operating Expenses 23,865 24,714 71,982 73,354
Operating Income 7,678 8,180 21,618 23,739
Equity in losses of unconsolidated businesses (9) (1) (34) (20)
Other expense, net (774) (110) (703) (1,127)
Interest expense (1,044) (1,146) (3,167) (3,571)
Income Before Provision For Income Taxes 5,851 6,923 17,714 19,021
Provision for income taxes (1,347) (1,586) (4,084) (4,450)
Net Income 4,504 5,337 13,630 14,571
Net income attributable to noncontrolling interests 147 143 417 401
Net income attributable to Verizon 4,357 5,194 13,213 14,170
Net Income $ 4,504 $ 5,337 $ 13,630 $ 14,571
Basic Earnings Per Common Share        
Net income attributable to Verizon (USD per share) $ 1.05 $ 1.26 $ 3.19 $ 3.42
Weighted-average shares outstanding (in shares) 4,140 4,138 4,139 4,138
Diluted Earnings Per Common Share        
Net income attributable to Verizon (USD per share) $ 1.05 $ 1.25 $ 3.19 $ 3.42
Weighted-average shares outstanding (in shares) 4,142 4,140 4,141 4,140
Service and Other        
Operating Revenues        
Operating Revenues $ 27,431 $ 27,753 $ 81,604 $ 82,301
Service        
Operating Expenses        
Cost of services and equipment 7,955 7,902 23,348 23,396
Wireless equipment        
Operating Revenues        
Operating Revenues 4,112 5,141 11,996 14,792
Operating Expenses        
Cost of services and equipment $ 4,379 $ 5,482 $ 13,031 $ 15,699