Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the assets and liabilities which were disposed as a result of the closing of the transaction:

	September 1,
(dollars in millions)	2021
Assets:
Cash, cash equivalents and restricted cash	$	168
Accounts receivable	1,597
Prepaid expenses and other	134
Property, plant and equipment, net	1,235
Other intangible assets, net	2,579
Other assets	221
Total assets	$	5,934
Liabilities:
Accounts payable and accrued liabilities	$	1,411
Other current liabilities	315
Other liabilities	310
Total liabilities	$	2,036

Purchase Price Identified Based on Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the consideration paid and payable to the identified assets acquired and liabilities assumed as of the Acquisition Date. The purchase price allocation is preliminary and is subject to revision as additional information about the fair value of the assets acquired and liabilities assumed, including related deferred income taxes, become available.

	November 23,
(dollars in millions)	2021
Consideration:
Cash, net of cash acquired and working capital and other adjustments	$	3,491
Fair value of Verizon common stock (57,596,544 shares)	2,981
Fair value of contingent consideration to be paid	542
Total consideration	$	7,014
Assets acquired:
Current assets	$	1,370
Property, plant and equipment, net	96
Goodwill	3,723
Other intangible assets	4,374
Other assets	731
Total assets acquired	$	10,294
Liabilities assumed:
Current liabilities	1,433
Deferred income taxes	1,007
Other liabilities	840
Total liabilities assumed	$	3,280
Net assets acquired	$	7,014