XML 84 R61.htm IDEA: XBRL DOCUMENT v3.23.2
Fair Value Measurements and Financial Instruments - Schedule of Designated Derivative Activity (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Derivative [Line Items]        
Exchange gains and losses from the conversion of foreign currency denominated as debt $ 0 $ 0 $ 0 $ 0
Interest rate swaps | Fair Value Hedges | Designated as Hedging Instrument        
Derivative [Line Items]        
Notional value entered into 0 500,000,000 0 7,155,000,000
Notional value settled 0 0 0 863,000,000
Cash received (paid) for settlement of derivatives     0 40,000,000
Interest rate swaps | Fair Value Hedges | Designated as Hedging Instrument | Interest Expense        
Derivative [Line Items]        
Pre-tax gain recognized in Interest expense 2,000,000 0 1,000,000 0
Cross currency swaps | Fair Value Hedges | Designated as Hedging Instrument        
Derivative [Line Items]        
Notional value entered into 0 0 0  
Notional value settled 612,000,000 0 1,450,000,000  
Exchange gains and losses from the conversion of foreign currency denominated as debt 370,000,000 (1,808,000,000) 725,000,000 (1,808,000,000)
Excluded component 420,000,000 (340,000,000) 42,000,000 (340,000,000)
Cash received (paid) for settlement of derivatives     (67,000,000)  
Cross currency swaps | Fair Value Hedges | Designated as Hedging Instrument | Verizon Stated And Floating Rate Notes and Bonds        
Derivative [Line Items]        
Exchange gains and losses from the conversion of foreign currency denominated as debt (370,000,000) 1,808,000,000 (725,000,000) 1,808,000,000
Cross currency swaps | Fair Value Hedges | Designated as Hedging Instrument | Interest Expense        
Derivative [Line Items]        
Excluded component 27,000,000 27,000,000 54,000,000 27,000,000
Cross currency swaps | Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Notional value entered into       0
Notional value settled       0
Pre-tax gain (loss) recognized in other comprehensive loss       (430,000,000)
Cash received (paid) for settlement of derivatives       0
Forward starting interest rate swaps | Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Notional value entered into 0 0 0 0
Notional value settled 0 600,000,000 0 1,000,000,000
Pre-tax gain (loss) recognized in other comprehensive loss 0 68,000,000 0 196,000,000
Cash received (paid) for settlement of derivatives     0 (107,000,000)
Treasury rate locks | Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Notional value entered into 500,000,000 0 500,000,000 0
Notional value settled 500,000,000 0 500,000,000 0
Pre-tax gain (loss) recognized in other comprehensive loss $ 5,000,000 $ 0 5,000,000 0
Cash received (paid) for settlement of derivatives     $ 5,000,000 $ 0