Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

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

The following table summarizes the allocation of the consideration paid and payable to the identified assets acquired and liabilities assumed as of the Acquisition Date:

	November 23,		Measurement Period Adjustments(1)		Adjusted
(dollars in millions)	2021				Fair Value
Consideration:
Cash, net of cash acquired and working capital and other adjustments	$	3,491	$	7	$	3,498
Fair value of Verizon common stock (57,596,544 shares)	2,981		—		2,981
Fair value of contingent consideration to be paid	542		18		560
Total consideration	$	7,014	$	25	$	7,039
Assets acquired:
Current assets	$	1,370	$	9	$	1,379
Property, plant and equipment, net	96		(10)		86
Goodwill	3,723		100		3,823
Other intangible assets	4,374		(19)		4,355
Other assets	731		(58)		673
Total assets acquired	$	10,294	$	22	$	10,316
Liabilities assumed:
Current liabilities	$	1,433	$	70	$	1,503
Deferred income taxes	1,007		37		1,044
Other liabilities	840		(110)		730
Total liabilities assumed	$	3,280	$	(3)	$	3,277
Net assets acquired	$	7,014	$	25	$	7,039

(1) Adjustments to the fair value measurements reflect new information obtained about facts and circumstances that existed as of the Acquisition Date, that if known, would have affected the measurement of the amounts recognized as of that date. The most significant adjustments related to goodwill, deferred income taxes, deferred commission costs and other intangible assets.