Equity and Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Schedule of Changes in Components of Total Equity

Changes in the components of Total equity were as follows:

	Three Months Ended June 30,
	2023			2022
(dollars in millions, except per share amounts, and shares in thousands)	Shares	Amount		Shares	Amount
Common Stock
Balance at beginning of period	4,291,434	$	429	4,291,434	$	429
Balance at end of period	4,291,434	429		4,291,434	429
Additional Paid In Capital
Balance at beginning of period		13,523			13,874
Other		—			(2)
Balance at end of period		13,523			13,872
Retained Earnings
Balance at beginning of period		84,543			73,891
Net income attributable to Verizon		4,648			5,199
Dividends declared ($0.6525, $0.6400 per share)		(2,743)			(2,687)
Other		—			(2)
Balance at end of period		86,448			76,401
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon		(2,177)			(906)
Foreign currency translation adjustments		(6)			(136)
Unrealized gain on cash flow hedges		25			72
Unrealized gain (loss) on fair value hedges		293			(272)
Unrealized loss on marketable securities		(2)			(6)
Defined benefit pension and postretirement plans		(54)			(72)
Other comprehensive income (loss)		256			(414)
Balance at end of period attributable to Verizon		(1,921)			(1,320)
Treasury Stock
Balance at beginning of period	(87,442)	(3,832)		(91,790)	(4,023)
Employee plans	48	2		71	3
Balance at end of period	(87,394)	(3,830)		(91,719)	(4,020)
Deferred Compensation-ESOPs and Other
Balance at beginning of period		397			497
Restricted stock equity grant		150			160
Amortization		(3)			(3)
Balance at end of period		544			654
Noncontrolling Interests
Balance at beginning of period		1,336			1,413
Total comprehensive income		118			116
Distributions and other		(145)			(188)
Balance at end of period		1,309			1,341
Total Equity		$	96,502		$	87,357

	Six Months Ended June 30,
	2023			2022
(dollars in millions, except per share amounts, and shares in thousands)	Shares	Amount		Shares	Amount
Common Stock
Balance at beginning of period	4,291,434	$	429	4,291,434	$	429
Balance at end of period	4,291,434	429		4,291,434	429
Additional Paid In Capital
Balance at beginning of period		13,420			13,861
Other		103			11
Balance at end of period		13,523			13,872
Retained Earnings
Balance at beginning of period		82,380			71,993
Net income attributable to Verizon		9,557			9,779
Dividends declared ($1.3050, $1.2800 per share)		(5,489)			(5,379)
Other		—			8
Balance at end of period		86,448			76,401
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon		(1,865)			(927)
Foreign currency translation adjustments		20			(165)
Unrealized gain on cash flow hedges		46			279
Unrealized loss on fair value hedges		(9)			(272)
Unrealized gain (loss) on marketable securities		2			(24)
Defined benefit pension and postretirement plans		(115)			(211)
Other comprehensive loss		(56)			(393)
Balance at end of period attributable to Verizon		(1,921)			(1,320)
Treasury Stock
Balance at beginning of period	(91,572)	(4,013)		(93,635)	(4,104)
Employee plans	4,175	183		1,913	84
Shareholder plans	3	—		3	—
Balance at end of period	(87,394)	(3,830)		(91,719)	(4,020)
Deferred Compensation-ESOPs and Other
Balance at beginning of period		793			538
Restricted stock equity grant		136			269
Amortization		(385)			(153)
Balance at end of period		544			654
Noncontrolling Interests
Balance at beginning of period		1,319			1,410
Total comprehensive income		227			247
Distributions and other		(237)			(316)
Balance at end of period		1,309			1,341
Total Equity		$	96,502		$	87,357

Schedule of Components in Accumulated Other Comprehensive Income

The changes in the balances of Accumulated other comprehensive loss by component were as follows:

(dollars in millions)	Foreign  currency translation adjustments		Unrealized gain (loss) on cash flow hedges		Unrealized gain (loss) on fair value hedges		Unrealized gain (loss) on marketable securities		Defined benefit pension and postretirement plans		Total
Balance at January 1, 2023	$	(698)	$	(1,150)	$	(431)	$	(9)	$	423	$	(1,865)
Excluded components recognized in other comprehensive income	—		—		31		—		—		31
Other comprehensive income	20		4		—		1		—		25
Amounts reclassified to net income	—		42		(40)		1		(115)		(112)
Net other comprehensive income (loss)	20		46		(9)		2		(115)		(56)
Balance at June 30, 2023	$	(678)	$	(1,104)	$	(440)	$	(7)	$	308	$	(1,921)