Segment Information (Tables)

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
(dollars in millions)	2020		2019		2020		2019
External Operating Revenues
Consumer
Service	$	16,255	$	16,432	$	48,496	$	49,043
Wireless equipment	3,403		4,256		9,989		12,326
Other	2,014		1,953		5,946		5,303
Total Consumer	21,672		22,641		64,431		66,672
Business
Small and Medium Business	2,737		2,894		8,132		8,379
Global Enterprise	2,594		2,714		7,811		8,077
Public Sector and Other	1,639		1,472		4,636		4,435
Wholesale	763		790		2,279		2,440
Total Business	7,733		7,870		22,858		23,331
Total reportable segments	$	29,405	$	30,511	$	87,289	$	90,003
Intersegment Revenues
Consumer	$	64	$	65	$	183	$	177
Business	16		15		54		41
Total reportable segments	$	80	$	80	$	237	$	218
Total Operating Revenues
Consumer	$	21,736	$	22,706	$	64,614	$	66,849
Business(1)	7,749		7,885		22,912		23,372
Total reportable segments	$	29,485	$	30,591	$	87,526	$	90,221
Operating Income
Consumer	$	7,437	$	7,489	$	21,783	$	22,075
Business	923		977		2,823		3,096
Total reportable segments	$	8,360	$	8,466	$	24,606	$	25,171

⁽¹⁾ Service and other revenues included in our Business segment amounted to approximately $7.0 billion for both the three months ended

September 30, 2020 and 2019. Service and other revenues included in our Business segment amounted to approximately $20.9 billion for both the nine months ended September 30, 2020 and 2019. Wireless equipment revenues included in our Business segment amounted to approximately $709 million and $2.0 billion for the three and nine months ended September 30, 2020, respectively, and approximately $880 million and $2.5 billion for the three and nine months ended September 30, 2019, respectively.

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(dollars in millions)	2020		2019		2020		2019
Consumer	$	2,773	$	2,811	$	8,326	$	8,347
Business	263		243		785		725
Total Fios revenue	$	3,036	$	3,054	$	9,111	$	9,072

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(dollars in millions)	2020		2019		2020		2019
Consumer	$	13,442	$	13,533	$	40,005	$	40,346
Business	2,990		2,850		8,732		8,319
Total Wireless service revenue	$	16,432	$	16,383	$	48,737	$	48,665

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				Nine Months Ended
	September 30,				September 30,
(dollars in millions)	2020		2019		2020		2019
Total reportable segment operating revenues	$	29,485	$	30,591	$	87,526	$	90,221
Corporate and other	2,203		2,400		6,442		7,147
Eliminations	(145)		(97)		(368)		(275)
Total consolidated operating revenues	$	31,543	$	32,894	$	93,600	$	97,093

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				Nine Months Ended
	September 30,				September 30,
(dollars in millions)	2020		2019		2020		2019
Total reportable segment operating income	$	8,360	$	8,466	$	24,606	$	25,171
Corporate and other	(479)		(344)		(1,183)		(1,083)
Other components of net periodic benefit charges (Note 8)	(203)		(203)		(610)		(610)
Loss on spectrum license transaction (Note 3)	—		—		(1,195)		—
Net gain from dispositions of assets and businesses	—		261		—		261
Total consolidated 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