Verizon Communications (VZ) 10-Q 26 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2017shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	VZ
Entity Registrant Name	VERIZON COMMUNICATIONS INC
Entity Central Index Key	732,712
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	4,079,440,836

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating Revenues
Service revenues and other	$ 27,365	$ 26,813	$ 79,665	$ 81,858
Wireless equipment revenues	4,352	4,124	12,414	11,782
Total Operating Revenues	31,717	30,937	92,079	93,640
Operating Expenses
Cost of services (exclusive of items shown below)	7,640	6,989	21,573	22,180
Wireless cost of equipment	4,965	5,240	14,808	14,882
Selling, general and administrative expense (including net gain on sale of divested businesses of $1,774 and $1,007 for the nine months ended September 30, 2017 and 2016, respectively)	7,632	8,226	20,579	25,601
Depreciation and amortization expense	4,272	3,942	12,498	11,941
Total Operating Expenses	24,509	24,397	69,458	74,604
Operating Income	7,208	6,540	22,621	19,036
Equity in losses of unconsolidated businesses	(22)	(23)	(71)	(63)
Other income (expense), net	(511)	97	(1,376)	(1,697)
Interest expense	(1,164)	(1,038)	(3,514)	(3,239)
Income Before Provision For Income Taxes	5,511	5,576	17,660	14,037
Provision for income taxes	(1,775)	(1,829)	(5,893)	(5,029)
Net Income	3,736	3,747	11,767	9,008
Net income attributable to noncontrolling interests	116	127	335	376
Net income attributable to Verizon	3,620	3,620	11,432	8,632
Net Income	$ 3,736	$ 3,747	$ 11,767	$ 9,008
Basic Earnings Per Common Share
Net income attributable to Verizon (USD per share)	$ 0.89	$ 0.89	$ 2.80	$ 2.12
Weighted-average shares outstanding (in shares)	4,084	4,079	4,083	4,080
Diluted Earnings Per Common Share
Net income attributable to Verizon (USD per share)	$ 0.89	$ 0.89	$ 2.80	$ 2.11
Weighted-average shares outstanding (in shares)	4,089	4,086	4,088	4,086
Dividends declared per common share (USD per share)	$ 0.5900	$ 0.5775	$ 1.7450	$ 1.7075

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net gain on sale of divested business	$ 0	$ 0	$ 1,774	$ 1,007

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net Income	$ 3,736	$ 3,747	$ 11,767	$ 9,008
Other Comprehensive Income (loss), net of taxes
Foreign currency translation adjustments	117	(78)	205	(23)
Unrealized gain (loss) on cash flow hedges	104	147	(94)	(58)
Unrealized gain (loss) on marketable securities	1	(19)	(5)	(35)
Defined benefit pension and postretirement plans	177	(139)	(96)	2,324
Other comprehensive income (loss) attributable to Verizon	399	(89)	10	2,208
Total Comprehensive Income	4,135	3,658	11,777	11,216
Comprehensive income attributable to noncontrolling interests	116	127	335	376
Comprehensive income attributable to Verizon	4,019	3,531	11,442	10,840
Total Comprehensive Income	$ 4,135	$ 3,658	$ 11,777	$ 11,216

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 4,487	$ 2,880
Accounts receivable, net of allowances of $908 and $845	21,549	17,513
Inventories	1,276	1,202
Assets held for sale	275	882
Prepaid expenses and other	3,280	3,918
Total current assets	30,867	26,395
Plant, property and equipment	242,608	232,215
Less accumulated depreciation	155,986	147,464
Plant, property and equipment, net	86,622	84,751
Investments in unconsolidated businesses	1,054	1,110
Wireless licenses	87,883	86,673
Goodwill	28,725	27,205
Other intangible assets, net	10,993	8,897
Non-current assets held for sale	0	613
Other assets	8,538	8,536
Total assets	254,682	244,180
Current liabilities
Debt maturing within one year	2,180	2,645
Accounts payable and accrued liabilities	18,434	19,593
Other	8,316	8,102
Total current liabilities	28,930	30,340
Long-term debt	115,317	105,433
Employee benefit obligations	21,131	26,166
Deferred income taxes	48,345	45,964
Other liabilities	12,508	12,245
Equity
Series preferred stock ($.10 par value; none issued)	0	0
Common stock ($.10 par value; 4,242,374,240 shares issued in each period)	424	424
Contributed capital	11,098	11,182
Reinvested earnings	19,373	15,059
Accumulated other comprehensive income	2,683	2,673
Common stock in treasury, at cost	(7,141)	(7,263)
Deferred compensation – employee stock ownership plans and other	411	449
Noncontrolling interests	1,603	1,508
Total equity	28,451	24,032
Total liabilities and equity	$ 254,682	$ 244,180

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 908	$ 845
Series preferred stock, par value (USD per share)	$ 0.10	$ 0.10
Series preferred stock, issued (in shares)	0	0
Common stock, par value (USD per share)	$ 0.10	$ 0.10
Common stock, shares issued (in shares)	4,242,374,240	4,242,374,240

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities
Net Income	$ 11,767	$ 9,008
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	12,498	11,941
Employee retirement benefits	(334)	4,531
Deferred income taxes	2,577	(2,331)
Provision for uncollectible accounts	842	963
Equity in losses of unconsolidated businesses, net of dividends received	100	94
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses	(5,513)	(4,010)
Discretionary contributions to qualified pension plans	(3,411)	(186)
Net gain on sale of divested businesses	(1,774)	(1,007)
Other, net	469	(1,279)
Net cash provided by operating activities	17,221	17,724
Cash Flows from Investing Activities
Capital expenditures (including capitalized software)	(11,282)	(11,398)
Acquisitions of businesses, net of cash acquired	(6,295)	(963)
Acquisitions of wireless licenses	(469)	(410)
Proceeds from dispositions of businesses	3,614	9,882
Other, net	731	350
Net cash used in investing activities	(13,701)	(2,539)
Cash Flows from Financing Activities
Proceeds from long-term borrowings	21,915	8,152
Proceeds from asset-backed long-term borrowings	2,878	2,594
Repayments of long-term borrowings and capital lease obligations	(16,457)	(14,510)
Decrease in short-term obligations, excluding current maturities	(160)	(120)
Dividends paid	(7,067)	(6,908)
Other, net	(3,022)	(2,422)
Net cash used in financing activities	(1,913)	(13,214)
Increase in cash and cash equivalents	1,607	1,971
Cash and cash equivalents, beginning of period	2,880	4,470
Cash and cash equivalents, end of period	$ 4,487	$ 6,441

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared based upon Securities and Exchange Commission (SEC) rules that permit reduced disclosure for interim periods. For a more complete discussion of significant accounting policies and certain other information, you should refer to the financial statements included in the Verizon Communications Inc. (Verizon or the Company) Annual Report on Form 10-K for the year ended December 31, 2016 . These financial statements reflect all adjustments that are necessary for a fair presentation of results of operations and financial condition for the interim periods shown, including normal recurring accruals and other items. The results for the interim periods are not necessarily indicative of results for the full year. We have reclassified certain prior period amounts to conform to the current period presentation. Earnings Per Common Share There were a total of approximately 5 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the three and nine months ended September 30, 2017 , respectively. There were a total of approximately 7 million and 6 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the three and nine months ended September 30, 2016 , respectively. Recently Adopted Accounting Standards In January 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-04, “Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The amendments in this update eliminate the requirement to perform step two of the goodwill impairment test, which requires a hypothetical purchase price allocation when an impairment is determined to have occurred. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This standard update is effective as of the first quarter of 2020; however, early adoption is permitted for any interim or annual impairment tests performed after January 1, 2017. Verizon early adopted this standard as of January 1, 2017. In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” This standard update intends to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This standard update is effective as of the first quarter of 2017. The adoption of this standard update did not have a significant impact on our condensed consolidated financial statements. Recently Issued Accounting Standards In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The amendments in this update simplify the application of hedge accounting and increase the transparency of hedge results. The updated standard also amends the presentation and disclosure requirements and changes how companies can assess the effectiveness of their hedging relationships. Companies will now have until the end of the first quarter in which a hedge is entered into to perform an initial assessment of a hedge’s effectiveness. After initial qualification, the new guidance permits a qualitative effectiveness assessment for certain hedges instead of a quantitative test if the company can reasonably support an expectation of high effectiveness throughout the term of the hedge. An initial quantitative test to establish that the hedge relationship is highly effective is still required. For cash flow hedges, if the hedge is highly effective, all changes in the fair value of the derivative hedging instrument will be recorded in Other comprehensive income (loss). These changes in fair value will be reclassified to earnings when the hedged item impacts earnings. The standard update is effective as of the first quarter of 2019; however, early adoption is permitted within an interim period. We intend to early adopt this standard in the fourth quarter of 2017 and do not expect it to have a significant impact on our condensed consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The amendments in this update require an employer to report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost, including the recognition of prior service credits, will be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. The amendments in this update also allow only the service cost component of pension and other postretirement benefit costs to be eligible for capitalization when applicable. The amendments in this update would be applied retrospectively for the presentation of the service cost component and other components of net periodic benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic benefit cost in assets. Disclosures of the nature of and reason for the change in accounting principle would be required in the first interim and annual reporting periods of adoption. This standard update is effective as of the first quarter of 2018; however, early adoption is permitted as of the beginning of an annual period for which financial statements have not been issued. We will adopt this standard in the first quarter of 2018. The impact of the retrospective adoption of this standard update will be a decrease to consolidated operating income of approximately $0.2 billion and $0.7 billion for the three and nine months ended September 30, 2017, respectively, and an increase to consolidated operating income of approximately $0.4 billion and $4.1 billion for the three and nine months ended September 30, 2016, respectively. There will be no impact to consolidated net income for the three and nine months ended September 30, 2017 and 2016. In February 2017, the FASB issued ASU 2017-05, “Other Income - Gains and Losses From the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets.” The new guidance defines an “in substance nonfinancial asset” as an asset or group of assets for which substantially all of the fair value consists of nonfinancial assets and the group or subsidiary is not a business. The standard requires entities to derecognize nonfinancial assets or in substance nonfinancial assets when the entity no longer has (or ceases to have) a controlling financial interest in the legal entity that holds the asset and the entity transfers control of the asset. The standard update also unifies guidance related to partial sales of nonfinancial assets to be more consistent with the sale of a business. This standard update is effective as of the first quarter of 2018; however, early adoption is permitted. We do not expect that this standard update will have a significant impact on our condensed consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” The amendments in this update provide a framework, the screen, in which to evaluate whether a set of transferred assets and activities is a business. The screen requires that the set is not a business when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. The standard also aligns the definition of outputs with how outputs are described in Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. This standard is effective as of the first quarter of 2018; however, early adoption is permitted. We plan to early adopt this standard, on a prospective basis in the fourth quarter of 2017. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash.” The amendments in this update require that cash and cash equivalent balances in a statement of cash flows include those amounts deemed to be restricted cash and restricted cash equivalents. This standard update is effective as of the first quarter of 2018; however, early adoption is permitted. We do not expect the adoption of this standard will have a significant impact on our condensed consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This standard update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice for these issues. Among the updates, this standard update requires cash receipts from payments on a transferor’s beneficial interests in securitized trade receivables to be classified as cash inflows from investing activities. This standard update is effective as of the first quarter of 2018; however, early adoption is permitted. We expect the amendment relating to beneficial interests in securitization transactions will have an impact on our presentation of collections of the deferred purchase price from sales of wireless device payment plan agreement receivables in our condensed consolidated statements of cash flows. Upon adoption of this standard update in the first quarter of 2018, we expect to retrospectively reclassify approximately $0.6 billion of collections of deferred purchase price related to collections from customers from Cash flows from operating activities to Cash flows from investing activities in our condensed consolidated statement of cash flows for the nine months ended September 30, 2017 and $1.1 billion in our consolidated statement of cash flows for the year ended December 31, 2016 . In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This standard update requires that certain financial assets be measured at amortized cost net of an allowance for estimated credit losses such that the net receivable represents the present value of expected cash collection. In addition, this standard update requires that certain financial assets be measured at amortized cost reflecting an allowance for estimated credit losses expected to occur over the life of the assets. The estimate of credit losses must be based on all relevant information including historical information, current conditions and reasonable and supportable forecasts that affect the collectability of the amounts. This standard update is effective as of the first quarter of 2020; however, early adoption is permitted. We are currently evaluating the impact that this standard update will have on our condensed consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” This standard update intends to increase transparency and improve comparability by requiring entities to recognize assets and liabilities on the balance sheet for all leases, with certain exceptions. In addition, through improved disclosure requirements, the standard update will enable users of financial statements to further understand the amount, timing, and uncertainty of cash flows arising from leases. This standard update is effective as of the first quarter of 2019; however, early adoption is permitted. Verizon’s current operating lease portfolio is primarily comprised of network, real estate, and equipment leases. Upon adoption of this standard, we expect our balance sheet to include a right of use asset and liability related to substantially all operating lease arrangements. We have established a cross-functional coordinated implementation team to implement the standard update related to leases. We are in the process of determining the scope of arrangements that will be subject to this standard as well as assessing the impact to our systems, processes and internal controls to meet the standard update’s reporting and disclosure requirements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” This standard update, along with related subsequently issued updates, clarifies the principles for recognizing revenue and develops a common revenue standard for United States (U.S.) generally accepted accounting principles (GAAP). The standard update also amends current guidance for the recognition of costs to obtain and fulfill contracts with customers such that incremental costs of obtaining and direct costs of fulfilling contracts with customers will be deferred and amortized consistent with the transfer of the related good or service. The standard update intends to provide a more robust framework for addressing revenue issues; improve comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets; and provide more useful information to users of financial statements through improved disclosure requirements. The two permitted transition methods under the new standard are the full retrospective method, in which case the standard would be applied to each prior reporting period presented and the cumulative effect of applying the standard would be recognized at the earliest period shown, or the modified retrospective method, in which case the standard is applied only to the most current period presented and the cumulative effect of applying the standard would be recognized at the date of initial application. In August 2015, an accounting standard update was issued that delayed the effective date of this standard until the first quarter of 2018, at which time we plan to adopt the standard using the modified retrospective approach. We are in the process of evaluating the impact of the standard update. The ultimate impact on revenue resulting from the application of the new standard will be subject to assessments that are dependent on many variables, including, but not limited to, the terms of our contractual arrangements and our mix of business. Upon adoption, we expect that the allocation of revenue between equipment and service for our wireless fixed-term service plans will result in more revenue allocated to equipment and recognized earlier as compared with current GAAP. We expect the timing of recognition of our sales commission expenses will also be impacted, as a substantial portion of these costs, which are currently expensed, will be capitalized and amortized as described above. In 2016, total sales commission expenses were approximately $4.2 billion . In 2017, we expect total sales commission expenses to decline as our wireless customers continue to migrate from our fixed-term service plans to device payment plans which have lower commission structures. We have established a cross-functional coordinated implementation team to implement the standard update related to the recognition of revenue from contracts with customers. We have identified and are in the process of implementing changes to our systems, processes and internal controls to meet the standard update’s reporting and disclosure requirements.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions and Divestitures	2. Acquisitions and Divestitures Wireless Spectrum License Transactions During the fourth quarter of 2016, we entered into a license exchange agreement with affiliates of AT&T Inc. to exchange certain Advanced Wireless Services (AWS) and Personal Communication Services (PCS) spectrum licenses. This non-cash exchange was completed in February 2017, at which time we received $1.0 billion of AWS and PCS spectrum licenses at fair value and recorded a pre-tax gain of $0.1 billion in Selling, general and administrative expense on our condensed consolidated statement of income for the nine months ended September 30, 2017 . During the first quarter of 2017, we entered into a license exchange agreement with affiliates of Sprint Corporation, which provides for the exchange of certain PCS spectrum licenses. This non-cash exchange was completed in May 2017. As a result, we received $0.1 billion of PCS spectrum licenses at fair value and recorded an insignificant gain in Selling, general and administrative expense on our condensed consolidated statement of income for the nine months ended September 30, 2017 . During the third quarter of 2017, we entered into a license exchange agreement with affiliates of T-Mobile USA, Inc. to exchange certain AWS and PCS spectrum licenses. As a result of this agreement, $0.3 billion of Wireless licenses are classified as held for sale on our condensed consolidated balance sheet at September 30, 2017 . This non-cash exchange is subject to customary closing conditions and is expected to be completed in the fourth quarter of 2017. Upon completion of this transaction, we expect to record a gain which will be determined upon the closing of the transaction. During the three and nine months ended September 30, 2017 , we entered into and completed various other wireless license transactions for an insignificant amount of cash consideration. Straight Path On May 11, 2017, we entered into a purchase agreement to acquire Straight Path Communications Inc. (Straight Path) , a holder of millimeter wave spectrum configured for fifth-generation (5G) wireless services, for consideration reflecting an enterprise value of approximately $3.1 billion . Under the terms of the purchase agreement, we agreed to pay (i) Straight Path shareholders $184.00 per share, payable in Verizon shares, and (ii) certain transaction costs payable in cash of approximately $0.7 billion , consisting primarily of a fee to be paid to the Federal Communications Commission (FCC) . The acquisition is subject to customary regulatory approvals and closing conditions, and is expected to close by the end of the first quarter of 2018. Wireline XO Holdings In February 2016, we entered into a purchase agreement to acquire XO Holdings’ wireline business (XO), which owns and operates one of the largest fiber-based Internet Protocol (IP) and Ethernet networks. Concurrently, we entered into a separate agreement to lease certain wireless spectrum from a wholly-owned subsidiary of XO Holdings that holds its wireless spectrum, which included an option, subject to certain conditions, to buy the subsidiary. In February 2017, we completed our acquisition of XO for total cash consideration of approximately $1.8 billion , of which $0.1 billion was paid in 2015. In April 2017, we exercised our option to buy the subsidiary for approximately $0.2 billion , subject to certain adjustments. The transaction is subject to customary regulatory approvals and is expected to close by the end of 2017. Upon closing, the spectrum acquired as part of the transaction will be used for our 5G technology deployment. The condensed consolidated financial statements include the results of XO’s operations from the date the acquisition closed. If the acquisition of XO had been completed as of January 1, 2016, the results of operations of Verizon would not have been significantly different than our previously reported results of operations. The acquisition of XO was accounted for as a business combination. Since the business combination and the lease agreement with the purchase option were entered into contemporaneously, the total cash consideration of $1.8 billion has been preliminarily allocated between them on a relative fair value basis. The preliminary allocation of the purchase price for the business combination will be finalized within 12 months following the close of the acquisition. We preliminarily recorded approximately $0.4 billion of goodwill, and $0.3 billion of other intangible assets. Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired. The goodwill recorded as a result of the XO transaction represents future economic benefits we expect to achieve as a result of the acquisition. The goodwill related to this acquisition is included within our Wireline segment (see Note 3 for additional information). Data Center Sale On December 6, 2016, we entered into a definitive agreement, which was subsequently amended on March 21, 2017, with Equinix , Inc. pursuant to which we agreed to sell 23 customer-facing data center sites in the U.S. and Latin America, for approximately $3.6 billion , subject to certain adjustments (Data Center Sale) . The transaction closed on May 1, 2017 . For the nine months ended September 30, 2017 and the three and nine months ended September 30, 2016, these sites generated an insignificant amount of revenues and earnings. As a result of the closing of the transaction, we derecognized assets with a carrying value of $1.4 billion , primarily consisting of goodwill, plant, property and equipment and other intangible assets. The liabilities associated with the sale were insignificant. In connection with the Data Center Sale and other insignificant transactions, we recorded a net gain on sale of divested businesses of approximately $1.8 billion in Selling, general and administrative expense on our condensed consolidated statement of income for the nine months ended September 30, 2017 . WideOpenWest, Inc. On August 1, 2017, we entered into a definitive agreement to purchase certain fiber-optic network assets in the Chicago market from WideOpenWest, Inc. (WOW!) , a leading provider of communications services. The transaction is expected to close by the end of 2017. In addition, the parties entered into a separate agreement pursuant to which WOW! will complete the build-out of the network assets by the second half of 2018. The total cash consideration for the transactions is expected to be approximately $0.3 billion . Other Acquisition of Yahoo! Inc.’s Operating Business On July 23, 2016, Verizon entered into a stock purchase agreement (the Purchase Agreement) with Yahoo! Inc. (Yahoo). Pursuant to the Purchase Agreement, upon the terms and subject to the conditions thereof, we agreed to acquire the stock of one or more subsidiaries of Yahoo holding all of Yahoo’s operating business, for approximately $4.83 billion in cash, subject to certain adjustments (the Transaction). On February 20, 2017, Verizon and Yahoo entered into an amendment to the Purchase Agreement, pursuant to which the Transaction purchase price was reduced by $350 million to approximately $4.48 billion in cash, subject to certain adjustments. Subject to certain exceptions, the parties also agreed that certain user security and data breaches incurred by Yahoo (and the losses arising therefrom) were to be disregarded (1) for purposes of specified conditions to Verizon’s obligations to close the Transaction and (2) in determining whether a “Business Material Adverse Effect” under the Purchase Agreement has occurred. Concurrently with the amendment of the Purchase Agreement, Yahoo and Yahoo Holdings, Inc., a wholly-owned subsidiary of Yahoo that Verizon agreed to purchase pursuant to the Transaction, also entered into an amendment to the related reorganization agreement, pursuant to which Yahoo (which changed its name to Altaba Inc. following the closing of the Transaction) retains 50% of certain post-closing liabilities arising out of governmental or third-party investigations, litigations or other claims related to certain user security and data breaches incurred by Yahoo prior to its acquisition by Verizon, including an August 2013 data breach disclosed by Yahoo on December 14, 2016. At that time, Yahoo disclosed that more than one billion of the approximately three billion accounts existing in 2013 had likely been affected. In accordance with the original Transaction agreements, Yahoo will continue to retain 100% of any liabilities arising out of any shareholder lawsuits (including derivative claims) and investigations and actions by the SEC. Prior to the closing of the Transaction, pursuant to a related reorganization agreement, Yahoo transferred all of the assets and liabilities constituting Yahoo’s operating business to the subsidiaries that we acquired in the Transaction. The assets that we acquired did not include Yahoo’s ownership interests in Alibaba, Yahoo! Japan and certain other investments, certain undeveloped land recently divested by Yahoo, certain non-core intellectual property or its cash, other than the cash from its operating business we acquired. We received for our benefit and that of our current and certain future affiliates a non-exclusive, worldwide, perpetual, royalty-free license to all of Yahoo’s intellectual property that was not conveyed with the business. On June 13, 2017, we completed the Transaction. The aggregate purchase consideration at the closing of the Transaction was approximately $4.8 billion . On October 3, 2017, based upon new intelligence that we received in connection with our integration of Yahoo's operating business, we disclosed that we believe that the August 2013 data breach previously disclosed by Yahoo affected all of its accounts. Oath, our newly branded organization that combines Yahoo’s operating business with our existing Media business, is a diverse house of more than 50 media and technology brands that engages approximately a billion people around the world. We believe that the Transaction represents a critical step in growing the global scale needed for our digital media company and building the future of brands using powerful technology, trusted content and differentiated data. The acquisition of Yahoo’s operating business has been accounted for as a business combination. We are currently assessing the identification and measurement of the assets acquired and liabilities assumed. The preliminary results, which are summarized below, will be finalized within 12 months following the close of the acquisition. The preliminary results do not include any amount for potential liability arising from certain user security and data breaches since a reasonable estimate of loss, if any, cannot be determined at this time. We will continue to evaluate the accounting for these contingencies in conjunction with finalizing our accounting for this business combination and thereafter. When the valuations are finalized, any changes to the preliminary valuation of assets acquired and liabilities assumed may result in adjustments to the preliminary fair value of the net identifiable assets acquired and goodwill. The fair values of the assets acquired and liabilities assumed were determined using the income, cost, market and multiple period excess earnings approaches. The fair value measurements were primarily based on significant inputs that are not observable in the market and thus represent a Level 3 measurement as defined in ASC 820, Fair Value Measurement, other than long-term debt assumed in the acquisition. The income approach was primarily used to value the intangible assets, consisting primarily of acquired technology and customer relationships. The income approach indicates value for an asset based on the present value of cash flow projected to be generated by the asset. Projected cash flow is discounted at a required rate of return that reflects the relative risk of achieving the cash flow and the time value of money. The cost approach, which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility, was used, as appropriate, for plant, property and equipment. The cost to replace a given asset reflects the estimated reproduction or replacement cost for the property, less an allowance for loss in value due to depreciation. The following table summarizes the consideration to Yahoo’s shareholders and the preliminary identification of the assets acquired, including cash acquired of $0.2 billion , and liabilities assumed as of the close of the acquisition, as well as the fair value at the acquisition date of Yahoo’s noncontrolling interests: (dollars in millions) As of June 13, 2017 Cash payment to Yahoo’s equity holders $ 4,723 Estimated liabilities to be paid 38 Total consideration $ 4,761 Assets acquired: Goodwill $ 1,041 Intangible assets subject to amortization 2,519 Property, plant, and equipment 1,805 Other 1,332 Total assets acquired 6,697 Liabilities assumed: Total liabilities assumed 1,885 Net assets acquired: 4,812 Noncontrolling interest (51 ) Total consideration $ 4,761 On the closing date of the Transaction, each unvested and outstanding Yahoo restricted stock unit award that was held by an employee who became an employee of Verizon was replaced with a Verizon restricted stock unit award, which is generally payable in cash upon the applicable vesting date. The value of those outstanding restricted stock units on the acquisition date was approximately $1.0 billion . Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired. The goodwill is primarily attributable to increased synergies that are expected to be achieved from the integration of Yahoo’s operating business into our Media business. The preliminary goodwill related to this acquisition is included within Corporate and other (see Note 3 for additional information). The condensed consolidated financial statements include the results of Yahoo’s operating business from the date the acquisition closed. If the acquisition of Yahoo’s operating business had been completed as of January 1, 2016, the results of operations of Verizon would not have been significantly different than our previously reported results of operations. Acquisition and Integration Related Charges In connection with the Yahoo Transaction, we recognized the following charges, which were recorded in Selling, general and administrative expense on our condensed consolidated statements of income: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2017 2016 2017 2016 Severance $ 84 $ — $ 454 $ — Transaction costs 1 — 67 — Integration costs 60 — 116 — $ 145 $ — $ 637 $ —

Wireless Licenses, Goodwill and

Wireless Licenses, Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Wireless Licenses, Goodwill and Other Intangible Assets	3. Wireless Licenses, Goodwill and Other Intangible Assets Wireless Licenses Changes in the carrying amount of Wireless licenses are as follows: (dollars in millions) Balance at January 1, 2017 $ 86,673 Acquisitions (Note 2) 108 Capitalized interest on wireless licenses 361 Reclassifications, adjustments and other 741 Balance at September 30, 2017 $ 87,883 Reclassifications, adjustments and other includes $1.0 billion received in exchanges of wireless licenses, offset by $0.3 billion of wireless licenses that are classified as Assets held for sale on our condensed consolidated balance sheet at September 30, 2017 . At September 30, 2017 , approximately $10.0 billion of wireless licenses were under development for commercial service for which we were capitalizing interest costs. The average remaining renewal period for our wireless licenses portfolio was 5.4 years as of September 30, 2017 . Goodwill Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Wireless Wireline Other Total Balance at January 1, 2017 $ 18,393 $ 3,784 $ 5,028 $ 27,205 Acquisitions (Note 2) 4 443 1,068 1,515 Reclassifications, adjustments and other — 1 4 5 Balance at September 30, 2017 $ 18,397 $ 4,228 $ 6,100 $ 28,725 At September 30, 2017 , we recognized preliminary goodwill of $1.0 billion in Corporate and other as a result of the acquisition of Yahoo’s operating business, and $0.4 billion in Wireline as a result of the acquisition of XO. See Note 2 for additional information. Other Intangible Assets The following table displays the composition of Other intangible assets, net: At September 30, 2017 At December 31, 2016 (dollars in millions) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Customer lists (5 to 13 years) $ 4,062 $ (623 ) $ 3,439 $ 2,884 $ (480 ) $ 2,404 Non-network internal-use software (5 to 7 years) 17,663 (11,922 ) 5,741 16,135 (10,913 ) 5,222 Other (2 to 25 years) 2,529 (716 ) 1,813 1,854 (583 ) 1,271 Total $ 24,254 $ (13,261 ) $ 10,993 $ 20,873 $ (11,976 ) $ 8,897 At September 30, 2017 , we recognized preliminary other intangible assets of $2.5 billion in Corporate and other as a result of the acquisition of Yahoo’s operating business, and $0.3 billion in Wireline as a result of the acquisition of XO. See Note 2 for additional information. The amortization expense for Other intangible assets was as follows: Three Months Ended Nine Months Ended (dollars in millions) September 30, September 30, 2017 $ 536 $ 1,473 2016 419 1,255 The estimated future amortization expense for Other intangible assets is as follows: Years (dollars in millions) Remainder of 2017 $ 547 2018 2,036 2019 1,763 2020 1,469 2021 1,239 2022 1,045

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	4. Debt Changes to debt during the nine months ended September 30, 2017 are as follows: (dollars in millions) Debt Maturing within One Year Long-term Debt Total Balance at January 1, 2017 $ 2,645 $ 105,433 $ 108,078 Proceeds from long-term borrowings 65 21,850 21,915 Proceeds from asset-backed long-term borrowings — 2,878 2,878 Repayments of long-term borrowings and capital leases obligations (4,503 ) (11,954 ) (16,457 ) Decrease in short-term obligations, excluding current maturities (160 ) — (160 ) Reclassifications of long-term debt 3,945 (3,945 ) — Other 188 1,055 1,243 Balance at September 30, 2017 $ 2,180 $ 115,317 $ 117,497 February Exchange Offers and Cash Offers In February 2017, we completed private exchange and tender offers for 18 series of notes issued by Verizon Communications (February Old Notes) for (i) new notes issued by Verizon Communications (and, for certain series, cash) (February Exchange Offers) or (ii) cash (February Cash Offers). The February Old Notes had coupon rates ranging from 1.375% to 8.950% and maturity dates ranging from 2018 to 2043 . In connection with the February Exchange Offers, we issued $3.2 billion aggregate principal amount of Verizon Communications 2.946% Notes due 2022 , $1.7 billion aggregate principal amount of Verizon Communications 4.812% Notes due 2039 and $4.1 billion aggregate principal amount of Verizon Communications 5.012% Notes due 2049 , plus applicable cash of $0.6 billion , in exchange for $8.3 billion aggregate principal amount of February Old Notes. In connection with the February Cash Offers, we paid $0.5 billion cash to purchase $0.5 billion aggregate principal amount of February Old Notes. We subsequently purchased an additional $0.1 billion aggregate principal amount of February Old Notes for $0.1 billion cash, from certain holders whose tenders of notes in the February Cash Offers had been rejected. In addition to the exchange or purchase price, any accrued and unpaid interest on Old February Notes was paid at settlement. Term Loan Credit Agreement In March 2017, we prepaid $1.7 billion of the outstanding $3.3 billion term loan that had an original maturity date of July 2019. During April 2017, we repaid the remaining outstanding amount under the term loan agreement. March Tender Offers In March 2017, we completed tender offers for 30 series of notes issued by Verizon Communications and certain of its subsidiaries with coupon rates ranging from 5.125% to 8.950% and maturity dates ranging from 2018 to 2043 (March Tender Offers). In connection with the March Tender Offers, we purchased $2.8 billion aggregate principal amount of Verizon Communications notes, $0.2 billion aggregate principal amount of our operating telephone company subsidiary debentures and $0.1 billion aggregate principal amount of GTE LLC notes for total cash consideration of $3.8 billion . In addition to the purchase price, any accrued and unpaid interest on the purchased notes was paid to the date of purchase. August Exchange Offers and Cash Offers In August 2017, we completed private exchange and tender offers for 17 series of notes issued by Verizon Communications and GTE LLC (August Old Notes) for (i) new notes issued by Verizon Communications (and, for certain series, cash) or (ii) cash (August Exchange Offers and Cash Offers). The August Old Notes had coupon rates ranging from 1.375% to 8.750% , and maturity dates ranging from 2018 to 2023 . In connection with the August Exchange Offers and Cash Offers, we issued $4.0 billion of Verizon Communications 3.376% Notes due 2025 , in exchange for $4.0 billion aggregate principal amount of August Old Notes and paid $3.0 billion cash to purchase $3.0 billion aggregate principal amount of August Old Notes. In addition to the exchange or purchase price, any accrued and unpaid interest on Old August Notes was paid at settlement. August Tender Offers In August 2017, we completed tender offers for 29 series of notes issued by Verizon Communications and certain of its subsidiaries with coupon rates ranging from 5.050% to 8.950% and maturity dates ranging from 2022 to 2043 (August Tender Offers). In connection with the August Tender Offers, we purchased $1.5 billion aggregate principal amount of Verizon Communications notes, $0.1 billion aggregate principal amount of our operating telephone company subsidiary debentures, $0.2 billion aggregate principal amount of Alltel Corporation notes, and an insignificant amount of GTE LLC notes, for total cash consideration of $2.1 billion . In addition to the purchase price, any accrued and unpaid interest on the purchased notes was paid to the date of purchase. Debt Issuances and Redemptions During February 2017, we redeemed $0.2 billion of the $0.6 billion 6.940% GTE LLC Notes due 2028 at 124.8% of the principal amount of the notes repurchased (see “Early Debt Redemptions”). During February 2017, we issued approximately $1.5 billion aggregate principal amount of 4.950% Notes due 2047 . The issuance of these notes resulted in cash proceeds of approximately $1.5 billion , net of discounts and issuance costs and after reimbursement of certain expenses. The net proceeds were used for general corporate purposes. During March 2017, we issued $11.0 billion aggregate principal amount of fixed and floating rate notes. The issuance of these notes resulted in cash proceeds of approximately $10.9 billion , net of discounts and issuance costs and after reimbursement of certain expenses. The issuance consisted of the following series of notes: $1.4 billion aggregate principal amount of Floating Rate Notes due 2022 , $1.85 billion aggregate principal amount of 3.125% Notes due 2022 , $3.25 billion aggregate principal amount of 4.125% Notes due 2027 , $3.0 billion aggregate principal amount of 5.250% Notes due 2037 , and $1.5 billion aggregate principal amount of 5.500% Notes due 2047 . The floating rate notes bear interest at a rate equal to the three-month London Interbank Offered Rate (LIBOR) plus 1.000% which rate will be reset quarterly. The net proceeds were primarily used for the March Tender Offers and general corporate purposes, including discretionary contributions to our qualified pension plans of $3.4 billion . We also used certain of the net proceeds to finance our acquisition of Yahoo’s operating business. During April 2017, we redeemed in whole $0.5 billion aggregate principal amount of Verizon Communications 6.100% Notes due 2018 at 104.485% of the principal amount of such notes and $0.5 billion aggregate principal amount of Verizon Communications 5.500% Notes due 2018 at 103.323% of the principal amount of such notes, plus accrued and unpaid interest to the date of redemption. During May 2017, we issued $1.5 billion aggregate principal amount of Floating Rate Notes due 2020 . The issuance of these notes resulted in cash proceeds of approximately $1.5 billion , net of discounts and issuance costs. The floating rate notes bear interest at a rate equal to three-month LIBOR plus 0.550% which will be reset quarterly. The net proceeds were primarily used for general corporate purposes, which included the repayment of outstanding indebtedness. In addition we issued CHF 0.6 billion aggregate principal amount of 0.375% Bonds due 2023 , and CHF 0.4 billion aggregate principal amount of 1.000% Bonds due 2027 . The issuance of these bonds resulted in cash proceeds of approximately $1.0 billion , net of discounts and issuance costs. The net proceeds were primarily used for general corporate purposes including the repayment of debt. During May 2017, we initiated a retail notes program in connection with the issuance and sale from time to time of our notes that are due nine months or more from the date of issue. As of September 30, 2017 we have issued $0.7 billion of retail notes with interest rates ranging from 2.600% to 4.900% and maturity dates ranging from 2022 to 2047 . During June 2017 , $1.3 billion of Verizon Communications floating rate notes matured and were repaid. During June 2017 , we redeemed in whole $0.5 billion aggregate principal amount of Verizon Communications 1.100% Notes due 2017 at 100.003% of the principal amount of such notes, plus accrued and unpaid interest to the date of redemption. During August 2017 , we issued $3.0 billion aggregate principal amount of 4.500% Notes due 2033 resulting in cash proceeds of approximately $3.0 billion , net of discounts and issuance costs. In addition, we issued the following four series of Australian Dollar (AUD) denominated notes resulting in cash proceeds of $1.7 billion net of discounts and issuance costs: AUD 0.55 billion aggregate principal amount of 3.500% Notes due 2023 , AUD 0.45 billion aggregate principal amount of 4.050% Notes due 2025 , AUD 0.7 billion aggregate principal amount of 4.500% Notes due 2027 and AUD 0.5 billion aggregate principal amount of Floating Rate Notes due 2023 . The floating rate notes bear interest at a rate equal to the three-month Bank Bill Swap Reference Rate plus 1.220% which will be reset quarterly. In addition, we issued $1.0 billion aggregate principal amount of 5.150% Notes due 2050 resulting in cash proceeds of approximately $0.9 billion , net of discounts, issuance costs and reimbursement of certain expenses. The proceeds of the notes issued during August 2017 were used for general corporate purposes including the repayment of debt. During September 2017 , we redeemed in whole $1.3 billion aggregate principal amount of Verizon Communications 3.650% Notes due 2018 , at 101.961% of the principal amount of such notes, plus accrued and unpaid interest to the date of redemption. Asset-Backed Debt As of September 30, 2017 , the carrying value of our asset-backed debt was $7.9 billion . Our asset-backed debt includes notes (the Asset-Backed Notes) issued to third-party investors (Investors) and loans (ABS Financing Facility) received from banks and their conduit facilities (collectively, the Banks). Our consolidated asset-backed securitization bankruptcy remote legal entities (each, an ABS Entity or collectively, the ABS Entities) issue the debt or are otherwise party to the transaction documentation in connection with our asset-backed debt transactions. Under the terms of our asset-backed debt, we transfer device payment plan agreement receivables from Cellco Partnership and certain other affiliates of Verizon (collectively, the Originators) to one of the ABS Entities, which in turn transfers such receivables to another ABS Entity that issues the debt. Verizon entities retain the equity interests in the ABS Entities, which represent the rights to all funds not needed to make required payments on the asset-backed debt and other related payments and expenses. Our asset-backed debt is secured by the transferred device payment plan agreement receivables and future collections on such receivables. The device payment plan agreement receivables transferred to the ABS Entities and related assets, consisting primarily of restricted cash, will only be available for payment of asset-backed debt and expenses related thereto, payments to the Originators in respect of additional transfers of device payment plan agreement receivables, and other obligations arising from our asset-backed debt transactions, and will not be available to pay other obligations or claims of Verizon’s creditors until the associated asset-backed debt and other obligations are satisfied. The Investors or Banks, as applicable, which hold our asset-backed debt have legal recourse to the assets securing the debt, but do not have any recourse to Verizon with respect to the payment of principal and interest on the debt. Under a parent support agreement, Verizon has agreed to guarantee certain of the payment obligations of Cellco Partnership and the Originators to the ABS Entities. Cash collections on the device payment plan agreement receivables are required at certain specified times to be placed into segregated accounts. Deposits to the segregated accounts are considered restricted cash and are included in Prepaid expenses and other and Other assets on our condensed consolidated balance sheets. Proceeds from our asset-backed debt transactions, deposits to the segregated accounts and payments to the Originators in respect of additional transfers of device payment plan agreement receivables are reflected in Cash flows from financing activities in our condensed consolidated statements of cash flows. Repayments of our asset-backed debt and related interest payments made from the segregated accounts are non-cash activities and therefore not reflected within Cash flows from financing activities in our condensed consolidated statements of cash flows. The asset-backed debt issued and the assets securing this debt are included on our condensed consolidated balance sheets. Asset-Backed Notes In March 2017, we issued approximately $1.3 billion aggregate principal amount of senior and junior Asset-Backed Notes through an ABS Entity. The Class A senior Asset-Backed Notes had an expected weighted-average life to maturity of 2.6 years at issuance and bear interest at 2.060% per annum, the Class B junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.38 years at issuance and bear interest at 2.450% per annum and the Class C junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.64 years at issuance and bear interest at 2.650% per annum. In June 2017, we issued approximately $1.3 billion aggregate principal amount of senior and junior Asset-Backed Notes through an ABS Entity. The Class A senior Asset-Backed Notes had an expected weighted-average life to maturity of 2.47 years at issuance and bear interest at 1.920% per annum, the Class B junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.11 years at issuance and bear interest at 2.220% per annum and the Class C junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.34 years at issuance and bear interest at 2.380% per annum. In October 2017, we issued approximately $1.4 billion aggregate principal amount of senior and junior Asset-Backed Notes through an ABS Entity. The Class A-1a senior Asset-Backed Notes had an expected weighted-average life to maturity of 2.48 years at issuance and bear interest at 2.060% per annum, the Class A-1b senior Asset-Backed Notes had an expected weighted -average life to maturity of 2.48 years at issuance and bear interest at one-month LIBOR + 0.270% , which rate will be reset monthly, the Class B junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.12 years at issuance and bear interest at 2.380% per annum and the Class C junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.35 years at issuance and bear interest at 2.530% per annum. Under the terms of the Asset-Backed Notes, there is a two-year revolving period during which we may transfer additional receivables to the ABS Entity. ABS Financing Facility As of September 30, 2017 , aggregate outstanding borrowings under two loans under the ABS Financing Facility were approximately $2.8 billion . The ABS Financing Facility has a two year revolving period, which may be extended, during which we may transfer additional receivables to the ABS Entity. Subject to certain conditions, we may also remove receivables from the ABS Entity. Although both loans under the ABS Financing Facility are fully drawn as of September 30, 2017 , we have the right to prepay all or a portion thereof at any time without penalty, but in certain cases, with breakage costs. If we choose to prepay, the amount prepaid shall be available for further drawdowns until September 2018, except in certain circumstances. Variable Interest Entities (VIEs) The ABS Entities meet the definition of a VIE for which we have determined that we are the primary beneficiary as we have both the power to direct the activities of the entity that most significantly impact the entity’s performance and the obligation to absorb losses or the right to receive benefits of the entity. Therefore, the assets, liabilities and activities of the ABS Entities are consolidated in our financial results and are included in amounts presented on the face of our condensed consolidated balance sheets. The assets and liabilities related to our asset-backed debt arrangements included on our condensed consolidated balance sheets were as follows: At September 30, At December 31, (dollars in millions) 2017 2016 Assets Account receivable, net $ 7,395 $ 3,383 Prepaid expenses and other 444 236 Other assets 2,666 2,383 Liabilities Accounts payable and accrued liabilities 4 4 Short-term portion of long-term debt 633 — Long-term debt 7,237 4,988 See Note 5 for additional information on device payment plan agreement receivables used to secure asset-backed debt. Credit Facilities As of September 30, 2017 , the unused borrowing capacity under our $9.0 billion credit facility was approximately $8.9 billion . The credit facility does not require us to comply with financial covenants or maintain specified credit ratings, and it permits us to borrow even if our business has incurred a material adverse change. We use the credit facility for the issuance of letters of credit and for general corporate purposes. We had fully drawn from the $1.0 billion equipment credit facility entered into in March 2016 insured by Eksportkreditnamnden Stockholm, Sweden (EKN), the Swedish export credit agency. As of September 30, 2017 , we had an outstanding balance of $0.9 billion to repay. We used this credit facility to finance network equipment-related purchases. In July 2017 , we entered into equipment credit facilities insured by various export credit agencies with the ability to borrow up to $4.0 billion to finance equipment-related purchases. The facilities have borrowings available through October 2019 , contingent upon the amount of eligible equipment-related purchases made by Verizon. A t September 30, 2017 , we have not drawn on these facilities. Additional Financing Activities (Non-Cash Transaction) During the nine months ended September 30, 2017 we financed, primarily through alternative financing arrangements, the purchase of approximately $0.4 billion of long-lived assets consisting primarily of network equipment. At September 30, 2017 , $1.1 billion relating to these financing arrangements, including those entered into in prior years and liabilities assumed through acquisitions, remained outstanding. These purchases are non-cash financing activities and therefore not reflected within Capital expenditures on our condensed consolidated statements of cash flows. Early Debt Redemptions During the three and nine months ended September 30, 2017, we recorded early debt redemption costs of $0.5 billion and $1.3 billion , respectively. We recognize early debt redemption costs in Other income (expense), net on our condensed consolidated statements of income. Guarantees We guarantee the debentures of our operating telephone company subsidiaries. As of September 30, 2017 , $1.0 billion aggregate principal amount of these obligations remained outstanding. Each guarantee will remain in place for the life of the obligation unless terminated pursuant to its terms, including the operating telephone company no longer being a wholly-owned subsidiary of Verizon. We also guarantee the debt obligations of GTE LLC as successor in interest to GTE Corporation that were issued and outstanding prior to July 1, 2003. As of September 30, 2017 , $0.8 billion aggregate principal amount of these obligations remain outstanding.

Wireless Device Payment Plans

Wireless Device Payment Plans	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Wireless Device Payment Plans	5. Wireless Device Payment Plans Under the Verizon device payment program, our eligible wireless customers purchase wireless devices under a device payment plan agreement. Customers that activate service on devices purchased under the device payment program pay lower service fees as compared to those under our fixed-term service plans, and their device payment plan charge is included on their standard wireless monthly bill. As of January 2017, we no longer offer consumers fixed-term service plans for phones. Wireless Device Payment Plan Agreement Receivables The following table displays device payment plan agreement receivables, net, that continue to be recognized in our condensed consolidated balance sheets: At September 30, At December 31, (dollars in millions) 2017 2016 Device payment plan agreement receivables, gross $ 15,434 $ 11,797 Unamortized imputed interest (716 ) (511 ) Device payment plan agreement receivables, net of unamortized imputed interest 14,718 11,286 Allowance for credit losses (727 ) (688 ) Device payment plan agreement receivables, net $ 13,991 $ 10,598 Classified on our condensed consolidated balance sheets: Accounts receivable, net $ 9,860 $ 6,140 Other assets 4,131 4,458 Device payment plan agreement receivables, net $ 13,991 $ 10,598 Included in our device payment plan agreement receivables, net at September 30, 2017 , are net device payment plan agreement receivables of $10.0 billion that have been transferred to ABS Entities and continue to be reported in our condensed consolidated balance sheet. We may offer our customers certain promotions where a customer can trade-in his or her owned device in connection with the purchase of a new device. Under these types of promotions, the customer receives a credit for the value of the trade-in device. In addition, we may provide the customer with additional future credits that will be applied against the customer’s monthly bill as long as service is maintained. We recognize a liability for the trade-in device measured at fair value, which is approximated by considering several factors, including the weighted-average selling prices obtained in recent resales of similar devices eligible for trade-in. Future credits are recognized when earned by the customer. Device payment plan agreement receivables, net does not reflect the trade-in device liability. At September 30, 2017 , the amount of trade-in liability was insignificant. From time to time, on select devices, certain marketing promotions have been revocably offered to customers to upgrade to a new device after paying down a certain specified portion of the required device payment plan agreement amount as well as trading in their device in good working order. At the time of the sale of a device, we impute risk adjusted interest on the device payment plan agreement receivables. We record the imputed interest as a reduction to the related accounts receivable. Interest income, which is included within Service revenues and other on our condensed consolidated statements of income, is recognized over the financed device payment term. When originating device payment plan agreements, we use internal and external data sources to create a credit risk score to measure the credit quality of a customer and to determine eligibility for the device payment program. If a customer is either new to Verizon Wireless or has less than 210 days of customer tenure with Verizon Wireless (a new customer), the credit decision process relies more heavily on external data sources. If the customer has 210 days or more of customer tenure with Verizon Wireless (an existing customer), the credit decision process relies on internal data sources. Verizon Wireless’ experience has been that the payment attributes of longer tenured customers are highly predictive for estimating their ability to pay in the future. External data sources include obtaining a credit report from a national consumer credit reporting agency, if available. Verizon Wireless uses its internal data and/or credit data obtained from the credit reporting agencies to create a custom credit risk score. The custom credit risk score is generated automatically (except with respect to a small number of applications where the information needs manual intervention) from the applicant’s credit data using Verizon Wireless’ proprietary custom credit models, which are empirically derived, demonstrably and statistically sound. The credit risk score measures the likelihood that the potential customer will become severely delinquent and be disconnected for non-payment. For a small portion of new customer applications, a traditional credit report is not available from one of the national credit reporting agencies because the potential customer does not have sufficient credit history. In those instances, alternate credit data is used for the risk assessment. Based on the custom credit risk score, we assign each customer to a credit class, each of which has a specified required down payment percentage and specified credit limits. Device payment plan agreement receivables originated from customers assigned to credit classes requiring no down payment represent the lowest risk. Device payment plan agreement receivables originated from customers assigned to credit classes requiring a down payment represent a higher risk. Subsequent to origination, Verizon Wireless monitors delinquency and write-off experience as key credit quality indicators for its portfolio of device payment plan agreements and fixed-term service plans. The extent of our collection efforts with respect to a particular customer are based on the results of proprietary custom empirically derived internal behavioral scoring models which analyze the customer’s past performance to predict the likelihood of the customer falling further delinquent. These customer scoring models assess a number of variables, including origination characteristics, customer account history and payment patterns. Based on the score derived from these models, accounts are grouped by risk category to determine the collection strategy to be applied to such accounts. We continuously monitor collection performance results and the credit quality of our device payment plan agreement receivables based on a variety of metrics, including aging. Verizon Wireless considers an account to be delinquent and in default status if there are unpaid charges remaining on the account on the day after the bill’s due date. The balance and aging of the device payment plan agreement receivables on a gross basis were as follows: At September 30, At December 31, (dollars in millions) 2017 2016 Unbilled $ 14,508 $ 11,089 Billed: Current 760 557 Past due 166 151 Device payment plan agreement receivables, gross $ 15,434 $ 11,797 Activity in the allowance for credit losses for the device payment plan agreement receivables was as follows: (dollars in millions) 2017 2016 Balance at January 1, $ 688 $ 444 Bad debt expense 477 437 Write-offs (438 ) (347 ) Allowance related to receivables sold — 59 Other — 8 Balance at September 30, $ 727 $ 601 Sales of Wireless Device Payment Plan Agreement Receivables During 2015 and 2016, we established programs pursuant to a Receivables Purchase Agreement, or RPA, to sell from time to time, on an uncommitted basis, eligible device payment plan agreement receivables to a group of primarily relationship banks (Purchasers) on both a revolving (Revolving Program) and non-revolving (Non-Revolving Program) basis. The receivables sold under the RPA are no longer considered assets of Verizon. The outstanding portfolio of device payment plan agreement receivables derecognized from our condensed consolidated balance sheets, but which we continue to service, was $0.6 billion at September 30, 2017 and $6.4 billion at September 30, 2016 . At September 30, 2017 , the total portfolio of device payment plan agreement receivables, including derecognized device payment plan agreement receivables that we are servicing was $16.0 billion . Under the Non-Revolving Program, we transferred eligible device payment plan agreement receivables to wholly-owned subsidiaries that are bankruptcy remote special purpose entities (Sellers). The Sellers sold the receivables to the Purchasers for upfront cash proceeds and additional consideration upon settlement of the receivables (the deferred purchase price). As of September 30, 2017, no sold receivables remain outstanding under the Non-Revolving program. Under the Revolving Program, the Sellers sold eligible device payment plan agreement receivables on a revolving basis, subject to a maximum funding limit, to the Purchasers. Sales of eligible receivables by the Sellers, once initiated, generally occurred and were settled on a monthly basis. Customer payments made towards receivables sold under the Revolving Program were available to purchase additional eligible device payment plan agreement receivables originated during the revolving period. We elected to end the revolving period in July 2016. We continue to bill and collect on the receivables in exchange for a monthly servicing fee, which is insignificant. Eligible receivables under the RPA excluded device payment plan agreements where a new customer was required to provide a down payment. The sales of receivables under the RPA did not have a significant impact on our condensed consolidated statements of income. The cash proceeds received from the Purchasers were recorded within Cash flows provided by operating activities on our condensed consolidated statements of cash flows. There were no sales of device payment plan agreement receivables under the Revolving Program or the Non-Revolving Program during the three and nine months ended September 30, 2017 . There were no sales of device payment plan agreement receivables during the three months ended September 30, 2016 . During the nine months ended September 30, 2016 , we sold $3.3 billion of receivables, net of allowances and imputed interest, under the Revolving Program. We received cash proceeds from new transfers of $2.0 billion and cash proceeds from reinvested collections of $0.9 billion and recorded a deferred purchase price of $0.4 billion . Deferred Purchase Price Under the RPA, the deferred purchase price was initially recorded at fair value, based on the remaining device payment amounts expected to be collected, adjusted, as applicable, for the time value of money and by the timing and estimated value of the device trade-in in connection with upgrades. The estimated value of the device trade-in considers prices expected to be offered to us by independent third parties. This estimate contemplates changes in value after the launch of a device. The fair value measurements are considered to be Level 3 measurements within the fair value hierarchy. The collection of the deferred purchase price is contingent on collections from customers. Collections, which were returned as deferred purchase price and recorded within Cash flows provided by operating activities on our condensed consolidated statements of cash flows, were insignificant and $0.6 billion , during the three and nine months ended September 30, 2017 , respectively, and $0.4 billion and $0.5 billion during the three and nine months ended September 30, 2016 , respectively. Collections, recorded within Cash flows used in investing activities on our condensed consolidated statements of cash flows, were $0.5 billion during the three and nine months ended September 30, 2017 , respectively, and insignificant during both the three and nine months ended September 30, 2016 . At September 30, 2017 , our deferred purchase price receivable, which is held by the Sellers, was comprised of $0.5 billion included within Prepaid expenses and other in our condensed consolidated balance sheet. At December 31, 2016 , our deferred purchase price receivable was comprised of $1.2 billion included within Prepaid expenses and other and $0.4 billion included within Other assets in our condensed consolidated balance sheet. Variable Interest Entities (VIEs) Under the RPA, the Sellers’ sole business consists of the acquisition of the receivables from Cellco Partnership and certain other affiliates of Verizon and the resale of the receivables to the Purchasers. The assets of the Sellers are not available to be used to satisfy obligations of any Verizon entities other than the Sellers. We determined that the Sellers are VIEs as they lack sufficient equity to finance their activities. Given that we have the power to direct the activities of the Sellers that most significantly impact the Sellers’ economic performance, we are deemed to be the primary beneficiary of the Sellers. As a result, we consolidate the assets and liabilities of the Sellers into our condensed consolidated balance sheets. Continuing Involvement Verizon has continuing involvement with the sold receivables as it services the receivables. We continue to service the customer and their related receivables on behalf of the Purchasers, including facilitating customer payment collection, in exchange for a monthly servicing fee. While servicing the receivables, the same policies and procedures are applied to the sold receivables that apply to owned receivables, and we continue to maintain normal relationships with our customers. The credit quality of the customers we continue to service is consistent throughout the periods presented. To date, we have collected and remitted to the Purchasers approximately $10.1 billion , net of fees. At September 30, 2017 , the amount remaining to be remitted to the Purchasers is insignificant. Credit losses on receivables sold were insignificant during both the nine months ended September 30, 2017 and 2016 . In addition, we have continuing involvement related to the sold receivables as we may be responsible for absorbing additional credit losses pursuant to the agreements. The Company’s maximum exposure to loss related to the involvement with the Sellers is limited to the amount of the outstanding deferred purchase price, which was $0.5 billion as of September 30, 2017 . The maximum exposure to loss represents an estimated loss that would be incurred under severe, hypothetical circumstances whereby the Company would not receive the portion of the proceeds withheld by the Purchasers. As we believe the probability of these circumstances occurring is remote, the maximum exposure to loss is not an indication of the Company’s expected loss.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements Recurring Fair Value Measurements The following table presents the balances of assets and liabilities measured at fair value on a recurring basis at September 30, 2017 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Equity securities $ 79 $ — $ — $ 79 Fixed income securities — 378 — 378 Interest rate swaps — 162 — 162 Cross currency swaps — 333 — 333 Interest rate cap — 3 — 3 Total $ 79 $ 876 $ — $ 955 Liabilities: Other liabilities: Interest rate swaps $ — $ 183 $ — $ 183 Cross currency swaps — 1,058 — 1,058 Total $ — $ 1,241 $ — $ 1,241 The following table presents the balances of assets and liabilities measured at fair value on a recurring basis at December 31, 2016 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Equity securities $ 123 $ — $ — $ 123 Fixed income securities 10 566 — 576 Interest rate swaps — 71 — 71 Cross currency swaps — 45 — 45 Interest rate caps — 10 — 10 Total $ 133 $ 692 $ — $ 825 Liabilities: Other liabilities: Interest rate swaps $ — $ 236 $ — $ 236 Cross currency swaps — 1,803 — 1,803 Total $ — $ 2,039 $ — $ 2,039 (1) quoted prices in active markets for identical assets or liabilities (2) observable inputs other than quoted prices in active markets for identical assets and liabilities (3) no observable pricing inputs in the market Equity securities consist of investments in common stock of domestic and international corporations measured using quoted prices in active markets. Fixed income securities consist primarily of investments in municipal bonds as well as U.S. Treasury securities. We use quoted prices in active markets for our U.S. Treasury securities, therefore these securities are classified as Level 1. For all other fixed income securities that do not have quoted prices in active markets, we use alternative matrix pricing resulting in these debt securities being classified as Level 2. Derivative contracts are valued using models based on readily observable market parameters for all substantial terms of our derivative contracts and thus are classified within Level 2. We use mid-market pricing for fair value measurements of our derivative instruments. Our derivative instruments are recorded on a gross basis. We recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. There were no transfers between Level 1 and Level 2 during the nine months ended September 30, 2017 and 2016 . Fair Value of Short-term and Long-term Debt The fair value of our debt is determined using various methods, including quoted prices for identical terms and maturities, which is a Level 1 measurement, as well as quoted prices for similar terms and maturities in inactive markets and future cash flows discounted at current rates, which are Level 2 measurements. The fair value of our short-term and long-term debt, excluding capital leases, was as follows: At September 30, At December 31, 2017 2016 (dollars in millions) Carrying Amount Fair Value Carrying Amount Fair Value Short- and long-term debt, excluding capital leases $ 116,512 $ 128,096 $ 107,128 $ 117,584 Derivative Instruments The following table sets forth the notional amounts of our outstanding derivative instruments: At September 30, At December 31, 2017 2016 (dollars in millions) Notional Amount Notional Amount Interest rate swaps $ 20,168 $ 13,099 Cross currency swaps 15,666 12,890 Interest rate caps 2,840 2,540 Interest Rate Swaps We enter into interest rate swaps to achieve a targeted mix of fixed and variable rate debt. We principally receive fixed rates and pay variable rates based on LIBOR, resulting in a net increase or decrease to Interest expense. These swaps are designated as fair value hedges and hedge against interest rate risk exposure of designated debt issuances. We record the interest rate swaps at fair value on our condensed consolidated balance sheets as assets and liabilities. Changes in the fair value of the interest rate swaps are recorded to Interest expense, which are offset by changes in the fair value of the hedged debt due to changes in interest rates. During the first quarter of 2017, we entered into interest rate swaps with a total notional value of $3.5 billion . During the third quarter of 2017, we entered into interest rate swaps with a total notional value of $4.0 billion and settled interest rate swaps with a total notional value of $0.5 billion . The ineffective portion of our interest rate swaps was insignificant for the three and nine months ended September 30, 2017 and 2016 . Forward Interest Rate Swaps In order to manage our exposure to future interest rate changes, we previously entered into forward interest rate swaps. We designated these contracts as cash flow hedges. During the third quarter of 2016, we settled all outstanding forward interest rate swaps. During the three and nine months ended September 30, 2016 , pre-tax losses of an insignificant amount and $0.2 billion , respectively, were recognized in Other comprehensive income (loss). Cross Currency Swaps We have entered into cross currency swaps designated as cash flow hedges to exchange our British Pound Sterling, Euro, Swiss Franc and Australian Dollar-denominated cash flows into U.S. dollars and to fix our cash payments in U.S. dollars, as well as to mitigate the impact of foreign currency transaction gains or losses. During the second quarter of 2017, we entered into cross currency swaps with a total notional value of $1.0 billion . During the third quarter of 2017, we entered into cross currency swaps with a total notional value of approximately $1.8 billion . During the three and nine months ended September 30, 2017 , pre-tax gains of $0.5 billion and $1.0 billion , respectively, were recognized in Other comprehensive income (loss). During the three and nine months ended September 30, 2016 , pre-tax gains of $0.3 billion and $0.1 billion respectively, were recognized in Other comprehensive income (loss). A portion of the gains and losses recognized in Other comprehensive income (loss) was reclassified to Other income (expense), net to offset the related pre-tax foreign currency transaction gain or loss on the underlying hedged item. Net Investment Hedges We have designated certain foreign currency instruments as net investment hedges to mitigate foreign exchange exposure related to non-U.S. dollar net investments in certain foreign subsidiaries against changes in foreign exchange rates. The notional amount of the Euro-denominated debt as a net investment hedge was $0.9 billion and $0.8 billion at September 30, 2017 and December 31, 2016 , respectively. Undesignated Derivatives We also have the following derivative contracts which we use as an economic hedge but for which we have elected not to apply hedge accounting. Interest Rate Caps We enter into interest rate caps to mitigate our interest exposure to interest rate increases on our ABS Financing Facility. During the second quarter of 2017, we entered into interest rate caps with a total notional value of $0.3 billion . During the three and nine months ended September 30, 2017 , we recognized an insignificant increase in Interest expense. Concentrations of Credit Risk Financial instruments that subject us to concentrations of credit risk consist primarily of temporary cash investments, short-term and long-term investments, trade receivables, including device payment plan agreement receivables, certain notes receivable, including lease receivables, and derivative contracts. Counterparties to our derivative contracts are also major financial institutions with whom we have negotiated derivatives agreements (ISDA master agreements) and credit support annex agreements (CSA) which provide rules for collateral exchange. Our CSAs generally require collateralized arrangements with our counterparties in connection with uncleared derivatives, but as of September 30, 2017 , we have entered into amendments to our CSA agreements with substantially all of our counterparties that suspend the requirement for cash collateral posting for a specified period of time by both counterparties. While we may be exposed to credit losses due to the nonperformance of our counterparties, we consider the risk remote and do not expect that any such nonperformance would result in a significant effect on our results of operations or financial condition due to our diversified pool of counterparties. During the first and second quarter of 2017, we paid an insignificant amount of cash to extend certain of such amendments to certain collateral exchange arrangements. As a result of the amendments to the CSA agreements, we did not post any collateral at September 30, 2017 . At December 31, 2016 , we posted collateral of approximately $0.2 billion related to derivative contracts under collateral exchange arrangements, which were recorded as Prepaid expenses and other in our condensed consolidated balance sheet.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	7. Stock-Based Compensation Verizon Communications Long-Term Incentive Plan In May 2017, Verizon’s shareholders approved the 2017 Long-Term Incentive Plan (the 2017 Plan) and terminated Verizon’s authority to grant new awards under the Verizon 2009 Long-Term Incentive Plan (the 2009 Plan). Consistent with the 2009 Plan, the 2017 Plan provides for broad-based equity grants to employees, including executive officers, and permits the granting of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units and other awards. Upon approval of the 2017 Plan, Verizon reserved the 91 million shares that were reserved but not issued under the 2009 Plan for future issuance under the 2017 Plan. Restricted Stock Units The 2009 Plan and 2017 Plan provide for grants of Restricted Stock Units (RSUs). For RSUs granted prior to 2017, vesting generally occurs at the end of the third year. For the 2017 grants, vesting generally occurs in three equal installments on each anniversary of the grant date. The RSUs are generally classified as equity awards because the RSUs will be paid in Verizon common stock upon vesting. The RSU equity awards are measured using the grant date fair value of Verizon common stock and are not remeasured at the end of each reporting period. Dividend equivalent units are also paid to participants at the time the RSU award is paid, and in the same proportion as the RSU award. In connection with our acquisition of Yahoo’s operating business, on the closing date of the Transaction each unvested and outstanding Yahoo RSU award that was held by an employee who became an employee of Verizon was replaced with a Verizon RSU award, which is generally payable in cash upon the applicable vesting date. These awards are classified as liability awards and are measured at fair value at the end of each reporting period. Performance Stock Units The 2009 Plan and 2017 Plan also provide for grants of Performance Stock Units (PSUs) that generally vest at the end of the third year after the grant. As defined by the 2009 Plan and 2017 Plan, the Human Resources Committee of the Board of Directors determines the number of PSUs a participant earns based on the extent to which the corresponding performance goals have been achieved over the three -year performance cycle. The PSUs are classified as liability awards because the PSU awards are paid in cash upon vesting. The PSU award liability is measured at its fair value at the end of each reporting period and, therefore, will fluctuate based on the price of Verizon common stock as well as performance relative to the targets. Dividend equivalent units are also paid to participants at the time that the PSU award is determined and paid, and in the same proportion as the PSU award. The granted and cancelled activity for the PSU award includes adjustments for the performance goals achieved. The following table summarizes the Restricted Stock Unit and Performance Stock Unit activity: Restricted Stock Units Performance Stock Units (shares in thousands) Equity Awards Liability Awards Outstanding, January 1, 2017 13,308 — 17,919 Granted 6,360 22,073 6,564 Payments (4,987 ) (4,909 ) (6,031 ) Cancelled/Forfeited (198 ) (1,686 ) (321 ) Outstanding, September 30, 2017 14,483 15,478 18,131 As of September 30, 2017 , unrecognized compensation expense related to the unvested portion of Verizon’s RSUs and PSUs was approximately $1.2 billion and is expected to be recognized over approximately two years. The equity RSUs granted in 2017 have a weighted-average grant date fair value of $49.93 per unit.

Employee Benefits

Employee Benefits	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Employee Benefits	8. Employee Benefits We maintain non-contributory defined benefit pension plans for many of our employees. In addition, we maintain postretirement health care and life insurance plans for certain retirees and their dependents, which are both contributory and non-contributory, and include a limit on our share of the cost for certain recent and future retirees. In accordance with our accounting policy for pension and other postretirement benefits, operating expenses include pension and benefit related credits and/or charges based on actuarial assumptions, including projected discount rates and an estimated return on plan assets. These estimates are updated in the fourth quarter or upon a remeasurement event to reflect actual return on plan assets and updated actuarial assumptions. The adjustment will be recognized in our consolidated statement of income during the fourth quarter or upon a remeasurement event pursuant to our accounting policy for the recognition of actuarial gains and losses. Net Periodic Cost The following table summarizes the benefit (income) cost related to our pension and postretirement health care and life insurance plans: (dollars in millions) Pension Health Care and Life Three Months Ended September 30, 2017 2016 2017 2016 Service cost $ 70 $ 82 $ 37 $ 40 Amortization of prior service cost (credit) 10 10 (235 ) (235 ) Expected return on plan assets (315 ) (257 ) (13 ) (13 ) Interest cost 171 162 164 162 Remeasurement loss, net — 555 — — Net periodic benefit (income) cost $ (64 ) $ 552 $ (47 ) $ (46 ) Termination benefits — 4 — — Total $ (64 ) $ 556 $ (47 ) $ (46 ) (dollars in millions) Pension Health Care and Life Nine Months Ended September 30, 2017 2016 2017 2016 Service cost $ 210 $ 238 $ 111 $ 153 Amortization of prior service cost (credit) 29 12 (705 ) (421 ) Expected return on plan assets (947 ) (785 ) (39 ) (41 ) Interest cost 513 518 494 583 Remeasurement loss, net — 1,977 — 2,293 Net periodic benefit (income) cost $ (195 ) $ 1,960 $ (139 ) $ 2,567 Termination benefits — 4 — — Total $ (195 ) $ 1,964 $ (139 ) $ 2,567 Changes in Other Postretirement Benefit Plans During the three months ended September 30, 2017, amendments were made to certain postretirement plans related to retiree medical benefits for management and certain union represented employees and retirees. The impact of the plan amendments was a reduction in our postretirement benefit plan obligations of approximately $0.5 billion , which has been recorded as a net increase to Accumulated other comprehensive income of $0.3 billion (net of taxes of $0.2 billion ). The impact of the amount recorded in Accumulated other comprehensive income that will be reclassified to net periodic benefit cost is minimal. Severance, Pension and Benefit Charges During the three and nine months ended September 30, 2017 , we recorded a pre-tax severance charge of approximately $0.1 billion and $ 0.7 billion , respectively, primarily in connection with the acquisition of Yahoo's operating business. During the nine months ended September 30, 2016 , we recorded a net pre-tax curtailment gain of $0.5 billion due to the elimination of the accrual of benefits for some or all future services of a significant number of employees covered by three of our defined benefit pension plans and one of our other postretirement benefit plans. During the three months ended September 30, 2016 , we recorded net pre-tax severance, pension and benefit charges of approximately $0.8 billion primarily for our pension plans in accordance with our accounting policy to recognize actuarial gains and losses in the period in which they occur. The pension remeasurement charges of $0.6 billion primarily related to settlements for employees who received lump-sum distributions in five of our defined benefit pension plans. The charges were primarily driven by a decrease in our discount rate assumption of $0.8 billion used to determine the current year liabilities of our pension plans, partially offset by the difference between our expected return on assets of 7.0% and our annualized actual return on assets of 11.0% at August 31, 2016 ( $0.2 billion ). Our weighted-average discount rate assumption was 3.61% at August 31, 2016 . As part of this charge, we recorded severance costs of $0.2 billion under our existing separation plans. During the three months ended June 30, 2016 we recorded net pre-tax pension and benefit remeasurement charges of approximately $3.6 billion in accordance with our accounting policy to recognize actuarial gains and losses in the period in which they occur. These charges were comprised of a net pre-tax pension and benefit remeasurement charge of $0.8 billion measured as of April 1, 2016 related to curtailments in three of our defined benefit pension plans and one of our other postretirement benefit plans, a net pre-tax pension and benefit remeasurement charge of $2.7 billion measured as of May 31, 2016 in two of our defined benefit pension plans and three of our other postretirement benefit plans as a result of our accounting for the contractual healthcare caps and bargained for changes, and a net pre-tax pension and benefit remeasurement charge of $0.1 billion measured as of May 31, 2016 related to settlements for employees who received lump-sum distributions in three of Verizon’s defined benefit pension plans. The pension and benefit remeasurement charges were primarily driven by a decrease in our discount rate assumption used to determine the current year liabilities of our pension and other postretirement benefit plans ( $2.7 billion ) and updated healthcare cost trend rate assumptions ( $0.9 billion ). Our weighted-average discount rate assumption decreased from 4.60% at December 31, 2015 to 3.99% at May 31, 2016. During the three months ended March 31, 2016, we also recorded a net pre-tax pension and benefit remeasurement charge of $0.2 billion related to settlements for employees who received lump-sum distribution in one of Verizon’s defined benefit pension plans. Severance Payments During the three and nine months ended September 30, 2017 , we paid severance benefits of $0.2 billion and $0.6 billion , respectively. At September 30, 2017 , we had a remaining severance liability of $0.6 billion , a portion of which includes future contractual payments to employees separated as of September 30, 2017 . Employer Contributions During the three and nine months ended September 30, 2017 , we contributed $0.2 billion and $4.0 billion , respectively, to our qualified pension plans, which included $3.4 billion of discretionary contributions during the nine months ended September 30, 2017 . The contributions to our nonqualified pension plans were $0.1 billion during the three and nine months ended September 30, 2017 . There have been no significant changes with respect to the nonqualified pension and other postretirement benefit plans contributions in 2017 as previously disclosed in Part II. Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2016.

Equity and Accumulated Other Co

Equity and Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Equity and Accumulated Other Comprehensive Income	9. Equity and Accumulated Other Comprehensive Income Equity Changes in the components of Total equity were as follows: Attributable Noncontrolling Total (dollars in millions) to Verizon Interests Equity Balance at January 1, 2017 $ 22,524 $ 1,508 $ 24,032 Net income 11,432 335 11,767 Other comprehensive income 10 — 10 Comprehensive income 11,442 335 11,777 Contributed capital (84 ) — (84 ) Dividends declared (7,118 ) — (7,118 ) Common stock in treasury 122 — 122 Distributions and other (38 ) (240 ) (278 ) Balance at September 30, 2017 $ 26,848 $ 1,603 $ 28,451 Common Stock On March 3, 2017, the Verizon Board of Directors approved a new share buyback program, which authorized the repurchase of up to 100 million shares of Verizon common stock terminating no later than the close of business on February 28, 2020. The program permits Verizon to repurchase shares over time, with the amount and timing of repurchases depending on market conditions and corporate needs. Verizon did not repurchase any shares of Verizon common stock through its authorized share buyback program during the nine months ended September 30, 2017 . Common stock has been used from time to time to satisfy some of the funding requirements of employee and shareowner plans, including 2.8 million common shares issued from Treasury stock during the nine months ended September 30, 2017 . Accumulated Other Comprehensive Income The changes in the balances of Accumulated other comprehensive income by component are as follows: (dollars in millions) Foreign currency translation adjustments Unrealized loss on cash flow hedges Unrealized loss on marketable securities Defined benefit pension and postretirement plans Total Balance at January 1, 2017 $ (713 ) $ (80 ) $ 46 $ 3,420 $ 2,673 Other comprehensive income 205 619 14 316 1,154 Amounts reclassified to net income — (713 ) (19 ) (412 ) (1,144 ) Net other comprehensive income (loss) 205 (94 ) (5 ) (96 ) 10 Balance at September 30, 2017 $ (508 ) $ (174 ) $ 41 $ 3,324 $ 2,683 The amounts presented above in net other comprehensive income (loss) are net of taxes. The amounts reclassified to net income related to cash flow hedges in the table above are included in Other income (expense), net and Interest expense on our condensed consolidated statements of income (see Note 6 for additional information). The amounts reclassified to net income related to marketable securities in the table above are included in Other income (expense), net on our condensed consolidated statements of income. The amounts reclassified to net income related to defined benefit pension and postretirement plans in the table above are included in Cost of services and Selling, general and administrative expense on our condensed consolidated statements of income (see Note 8 for additional information).

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Information	10. Segment Information Reportable Segments We have two reportable segments, Wireless and Wireline, which we operate and manage as strategic business units and organize by products and services, and customer groups, respectively. We measure and evaluate our reportable segments based on segment operating income, consistent with the chief operating decision maker’s assessment of segment performance. Our segments and their principal activities consist of the following: Segment Description Wireless Wireless’ communications products and services include wireless voice and data services and equipment sales, which are provided to consumer, business and government customers across the U.S. Wireline Wireline’s voice, data and video communications products and enhanced services include broadband video and data, corporate networking solutions, security and managed network services and local and long distance voice services. We provide these products and services to consumers in the U.S., as well as to carriers, businesses and government customers both in the U.S. and around the world. During the first quarter of 2017 , Verizon reorganized the customer groups within its Wireline segment. Previously, the customer groups in the Wireline segment consisted of Mass Markets (which included Consumer Retail and Small Business subgroups), Global Enterprise and Global Wholesale. Pursuant to the reorganization, there are now four customer groups within the Wireline segment: Consumer Markets, which includes the customers previously included in Consumer Retail; Enterprise Solutions, which includes the large business customers, including multinational corporations, and federal government customers previously included in Global Enterprise; Partner Solutions, which includes the customers previously included in Global Wholesale; and Business Markets, a new customer group, which includes U.S.-based small business customers previously included in Mass Markets and U.S.-based medium business customers, state and local government customers and educational institutions previously included in Global Enterprise. Corporate and other includes the results of our Media business, branded Oath, our telematics and other businesses, investments in unconsolidated businesses, unallocated corporate expenses, pension and other employee benefit related costs and lease financing. Corporate and other also includes the historical results of divested businesses and other adjustments and gains and losses that are not allocated in assessing segment performance due to their nature. Although such transactions are excluded from the business segment results, they are included in reported consolidated earnings. Gains and losses that are not individually significant are included in all segment results as these items are included in the chief operating decision maker’s assessment of segment performance. We completed our acquisition of Yahoo’s operating business on June 13, 2017. On April 1, 2016, we completed the sale of our local exchange business and related landline activities in California, Florida and Texas, including Fios Internet and video customers, switched and special access lines and high-speed Internet service and long distance voice accounts in these three states to Frontier Communications Corporation (Frontier). The transaction, which included the acquisition by Frontier of the equity interests of Verizon’s incumbent local exchange carriers (ILECs) in California, Florida and Texas, did not involve any assets or liabilities of Verizon Wireless. Additionally, on May 1, 2017, we completed the Data Center Sale (see Note 2 for additional information). The results of operations for these divestitures and other insignificant transactions is included within Corporate and other for all periods presented to reflect comparable segment operating results consistent with the information regularly reviewed by our chief operating decision maker. In addition, Corporate and other includes the results of our telematics businesses for all periods presented, which were reclassified from our Wireline segment effective April 1, 2016. The impact of this reclassification was insignificant to our condensed consolidated financial statements or our segment results of operations. The reconciliation of segment operating revenues and expenses to consolidated operating revenues and expenses below includes the effects of special items that management does not consider in assessing segment performance, primarily because of their nature. We have adjusted prior period consolidated and segment information, where applicable, to conform to the current period presentation. 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) 2017 2016 2017 2016 External Operating Revenues Wireless Service $ 15,823 $ 16,647 $ 47,158 $ 50,108 Equipment 4,352 4,124 12,414 11,782 Other 1,328 1,249 3,916 3,661 Total Wireless 21,503 22,020 63,488 65,551 Wireline Consumer Markets 3,203 3,174 9,588 9,519 Enterprise Solutions 2,262 2,273 6,881 6,887 Partner Solutions 997 990 2,993 3,015 Business Markets 903 834 2,700 2,534 Other 48 76 183 242 Total Wireline 7,413 7,347 22,345 22,197 Total reportable segments $ 28,916 $ 29,367 $ 85,833 $ 87,748 Intersegment Revenues Wireless $ 77 $ 81 $ 252 $ 258 Wireline 249 229 718 706 Total reportable segments $ 326 $ 310 $ 970 $ 964 Total Operating Revenues Wireless $ 21,580 $ 22,101 $ 63,740 $ 65,809 Wireline 7,662 7,576 23,063 22,903 Total reportable segments $ 29,242 $ 29,677 $ 86,803 $ 88,712 Operating Income (Loss) Wireless $ 7,603 $ 7,647 $ 22,089 $ 23,544 Wireline 65 73 318 (631 ) Total reportable segments $ 7,668 $ 7,720 $ 22,407 $ 22,913 At September 30, At December 31, (dollars in millions) 2017 2016 Assets Wireless $ 228,238 $ 211,345 Wireline 70,049 66,679 Total reportable segments 298,287 278,024 Corporate and other 224,236 213,787 Eliminations (267,841 ) (247,631 ) Total consolidated - reported $ 254,682 $ 244,180 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) 2017 2016 2017 2016 Total reportable segment operating revenues $ 29,242 $ 29,677 $ 86,803 $ 88,712 Corporate and other 2,796 1,403 6,034 4,078 Eliminations (375 ) (354 ) (1,126 ) (1,060 ) Operating results from divested businesses 54 211 368 1,910 Total consolidated operating revenues $ 31,717 $ 30,937 $ 92,079 $ 93,640 Fios revenues are included within our Wireline segment and amounted to approximately $2.9 billion and $8.7 billion , respectively, for the three and nine months ended September 30, 2017 . Fios revenues amounted to approximately $2.8 billion and $8.3 billion , respectively, for the three and nine months ended September 30, 2016 . A reconciliation of the total of the reportable segments’ 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) 2017 2016 2017 2016 Total reportable segment operating income $ 7,668 $ 7,720 $ 22,407 $ 22,913 Corporate and other (311 ) (466 ) (910 ) (1,432 ) Severance, pension and benefit charges (Note 8) (1) — (797 ) (195 ) (4,512 ) Net gain on sale of divested businesses (Note 2) — — 1,774 1,007 Acquisition and integration related charges (Note 2, Note 8) (1) (166 ) — (730 ) — Gain on spectrum license transaction (Note 2) — — 126 142 Operating results from divested businesses 17 83 149 918 Total consolidated operating income 7,208 6,540 22,621 19,036 Equity in losses of unconsolidated businesses (22 ) (23 ) (71 ) (63 ) Other income (expense), net (511 ) 97 (1,376 ) (1,697 ) Interest expense (1,164 ) (1,038 ) (3,514 ) (3,239 ) Income Before Provision For Income Taxes $ 5,511 $ 5,576 $ 17,660 $ 14,037 (1) certain amounts have been reclassified to conform to the current period's presentation No single customer accounted for more than 10% of our total operating revenues during the three and nine months ended September 30, 2017 and 2016 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies In the ordinary course of business, Verizon is involved in various commercial litigation and regulatory proceedings at the state and federal level. Where it is determined, in consultation with counsel based on litigation and settlement risks, that a loss is probable and estimable in a given matter, the Company establishes an accrual. In none of the currently pending matters is the amount of accrual significant. An estimate of the reasonably possible loss or range of loss in excess of the amounts already accrued cannot be made at this time due to various factors typical in contested proceedings, including (1) uncertain damage theories and demands; (2) a less than complete factual record; (3) uncertainty concerning legal theories and their resolution by courts or regulators; and (4) the unpredictable nature of the opposing party and its demands. We continuously monitor these proceedings as they develop and adjust any accrual or disclosure as needed. We do not expect that the ultimate resolution of any pending regulatory or legal matter in future periods, including the Hicksville matter described below, will have a significant effect on our financial condition, but it could have a significant effect on our results of operations for a given reporting period. Reserves have been established to cover environmental matters relating to discontinued businesses and past telecommunications activities. These reserves include funds to address contamination at the site of a former Sylvania facility in Hicksville, NY, which had processed nuclear fuel rods in the 1950s and 1960s. In September 2005, the Army Corps of Engineers (ACE) accepted the site into its Formerly Utilized Sites Remedial Action Program. As a result, the ACE has taken primary responsibility for addressing the contamination at the site. An adjustment to the reserves may be made after a cost allocation is conducted with respect to the past and future expenses of all of the parties. Adjustments to the environmental reserve may also be made based upon the actual conditions found at other sites requiring remediation. Verizon is currently involved in approximately 40 federal district court actions alleging that Verizon is infringing various patents. Most of these cases are brought by non-practicing entities and effectively seek only monetary damages; a small number are brought by companies that have sold products and may seek injunctive relief as well. These cases have progressed to various stages and a small number may go to trial in the coming 12 months if they are not otherwise resolved. In connection with the execution of agreements for the sales of businesses and investments, Verizon ordinarily provides representations and warranties to the purchasers pertaining to a variety of nonfinancial matters, such as ownership of the securities being sold, as well as indemnity from certain financial losses. From time to time, counterparties may make claims under these provisions, and Verizon will seek to defend against those claims and resolve them in the ordinary course of business. Subsequent to the sale of Verizon Information Services Canada in 2004, we continue to provide a guarantee to publish directories, which was issued when the directory business was purchased in 2001 and had a 30 -year term (before extensions). The preexisting guarantee continues, without modification, despite the subsequent sale of Verizon Information Services Canada and the spin-off of our domestic print and Internet yellow pages directories business. The possible financial impact of the guarantee, which is not expected to be adverse, cannot be reasonably estimated as a variety of the potential outcomes available under the guarantee result in costs and revenues or benefits that may offset each other. We do not believe performance under the guarantee is likely.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Purchase Price Identified Based on Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the consideration to Yahoo’s shareholders and the preliminary identification of the assets acquired, including cash acquired of $0.2 billion , and liabilities assumed as of the close of the acquisition, as well as the fair value at the acquisition date of Yahoo’s noncontrolling interests: (dollars in millions) As of June 13, 2017 Cash payment to Yahoo’s equity holders $ 4,723 Estimated liabilities to be paid 38 Total consideration $ 4,761 Assets acquired: Goodwill $ 1,041 Intangible assets subject to amortization 2,519 Property, plant, and equipment 1,805 Other 1,332 Total assets acquired 6,697 Liabilities assumed: Total liabilities assumed 1,885 Net assets acquired: 4,812 Noncontrolling interest (51 ) Total consideration $ 4,761
Summary of Severance, Acquisition and Integration Related Charges Related to Acquisition	In connection with the Yahoo Transaction, we recognized the following charges, which were recorded in Selling, general and administrative expense on our condensed consolidated statements of income: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2017 2016 2017 2016 Severance $ 84 $ — $ 454 $ — Transaction costs 1 — 67 — Integration costs 60 — 116 — $ 145 $ — $ 637 $ —

Wireless Licenses, Goodwill a20

Wireless Licenses, Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Wireless Licenses	Changes in the carrying amount of Wireless licenses are as follows: (dollars in millions) Balance at January 1, 2017 $ 86,673 Acquisitions (Note 2) 108 Capitalized interest on wireless licenses 361 Reclassifications, adjustments and other 741 Balance at September 30, 2017 $ 87,883
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Wireless Wireline Other Total Balance at January 1, 2017 $ 18,393 $ 3,784 $ 5,028 $ 27,205 Acquisitions (Note 2) 4 443 1,068 1,515 Reclassifications, adjustments and other — 1 4 5 Balance at September 30, 2017 $ 18,397 $ 4,228 $ 6,100 $ 28,725
Composition of Other Intangible Assets, Net	The following table displays the composition of Other intangible assets, net: At September 30, 2017 At December 31, 2016 (dollars in millions) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Customer lists (5 to 13 years) $ 4,062 $ (623 ) $ 3,439 $ 2,884 $ (480 ) $ 2,404 Non-network internal-use software (5 to 7 years) 17,663 (11,922 ) 5,741 16,135 (10,913 ) 5,222 Other (2 to 25 years) 2,529 (716 ) 1,813 1,854 (583 ) 1,271 Total $ 24,254 $ (13,261 ) $ 10,993 $ 20,873 $ (11,976 ) $ 8,897
Amortization Expense for Other Intangible Assets	The amortization expense for Other intangible assets was as follows: Three Months Ended Nine Months Ended (dollars in millions) September 30, September 30, 2017 $ 536 $ 1,473 2016 419 1,255
Estimated Future Amortization Expense for Other Intangible Assets	The estimated future amortization expense for Other intangible assets is as follows: Years (dollars in millions) Remainder of 2017 $ 547 2018 2,036 2019 1,763 2020 1,469 2021 1,239 2022 1,045

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Combined Schedule of Current and Noncurrent Debt and Capital Lease Obligations	Changes to debt during the nine months ended September 30, 2017 are as follows: (dollars in millions) Debt Maturing within One Year Long-term Debt Total Balance at January 1, 2017 $ 2,645 $ 105,433 $ 108,078 Proceeds from long-term borrowings 65 21,850 21,915 Proceeds from asset-backed long-term borrowings — 2,878 2,878 Repayments of long-term borrowings and capital leases obligations (4,503 ) (11,954 ) (16,457 ) Decrease in short-term obligations, excluding current maturities (160 ) — (160 ) Reclassifications of long-term debt 3,945 (3,945 ) — Other 188 1,055 1,243 Balance at September 30, 2017 $ 2,180 $ 115,317 $ 117,497
Schedule of Assets and Liabilities Related to Asset-backed Debt Arrangements	The assets and liabilities related to our asset-backed debt arrangements included on our condensed consolidated balance sheets were as follows: At September 30, At December 31, (dollars in millions) 2017 2016 Assets Account receivable, net $ 7,395 $ 3,383 Prepaid expenses and other 444 236 Other assets 2,666 2,383 Liabilities Accounts payable and accrued liabilities 4 4 Short-term portion of long-term debt 633 — Long-term debt 7,237 4,988

Wireless Device Payment Plans (

Wireless Device Payment Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Device Payment Plan Receivables, Net	The following table displays device payment plan agreement receivables, net, that continue to be recognized in our condensed consolidated balance sheets: At September 30, At December 31, (dollars in millions) 2017 2016 Device payment plan agreement receivables, gross $ 15,434 $ 11,797 Unamortized imputed interest (716 ) (511 ) Device payment plan agreement receivables, net of unamortized imputed interest 14,718 11,286 Allowance for credit losses (727 ) (688 ) Device payment plan agreement receivables, net $ 13,991 $ 10,598 Classified on our condensed consolidated balance sheets: Accounts receivable, net $ 9,860 $ 6,140 Other assets 4,131 4,458 Device payment plan agreement receivables, net $ 13,991 $ 10,598
Balance and Aging of Device Payment Plan Agreement Receivables on Gross Basis	The balance and aging of the device payment plan agreement receivables on a gross basis were as follows: At September 30, At December 31, (dollars in millions) 2017 2016 Unbilled $ 14,508 $ 11,089 Billed: Current 760 557 Past due 166 151 Device payment plan agreement receivables, gross $ 15,434 $ 11,797
Activity in Allowance for Credit Losses for Device Payment Plan Agreement Receivables	Activity in the allowance for credit losses for the device payment plan agreement receivables was as follows: (dollars in millions) 2017 2016 Balance at January 1, $ 688 $ 444 Bad debt expense 477 437 Write-offs (438 ) (347 ) Allowance related to receivables sold — 59 Other — 8 Balance at September 30, $ 727 $ 601

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents the balances of assets and liabilities measured at fair value on a recurring basis at September 30, 2017 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Equity securities $ 79 $ — $ — $ 79 Fixed income securities — 378 — 378 Interest rate swaps — 162 — 162 Cross currency swaps — 333 — 333 Interest rate cap — 3 — 3 Total $ 79 $ 876 $ — $ 955 Liabilities: Other liabilities: Interest rate swaps $ — $ 183 $ — $ 183 Cross currency swaps — 1,058 — 1,058 Total $ — $ 1,241 $ — $ 1,241 The following table presents the balances of assets and liabilities measured at fair value on a recurring basis at December 31, 2016 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Equity securities $ 123 $ — $ — $ 123 Fixed income securities 10 566 — 576 Interest rate swaps — 71 — 71 Cross currency swaps — 45 — 45 Interest rate caps — 10 — 10 Total $ 133 $ 692 $ — $ 825 Liabilities: Other liabilities: Interest rate swaps $ — $ 236 $ — $ 236 Cross currency swaps — 1,803 — 1,803 Total $ — $ 2,039 $ — $ 2,039 (1) quoted prices in active markets for identical assets or liabilities (2) observable inputs other than quoted prices in active markets for identical assets and liabilities (3) no observable pricing inputs in the market
Schedule of Fair Value of Short-Term and Long-Term Debt, Excluding Capital Leases	The fair value of our short-term and long-term debt, excluding capital leases, was as follows: At September 30, At December 31, 2017 2016 (dollars in millions) Carrying Amount Fair Value Carrying Amount Fair Value Short- and long-term debt, excluding capital leases $ 116,512 $ 128,096 $ 107,128 $ 117,584
Notional Amounts of Outstanding Derivative Instruments	The following table sets forth the notional amounts of our outstanding derivative instruments: At September 30, At December 31, 2017 2016 (dollars in millions) Notional Amount Notional Amount Interest rate swaps $ 20,168 $ 13,099 Cross currency swaps 15,666 12,890 Interest rate caps 2,840 2,540

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Restricted and Performance Stock Unit Activity	The following table summarizes the Restricted Stock Unit and Performance Stock Unit activity: Restricted Stock Units Performance Stock Units (shares in thousands) Equity Awards Liability Awards Outstanding, January 1, 2017 13,308 — 17,919 Granted 6,360 22,073 6,564 Payments (4,987 ) (4,909 ) (6,031 ) Cancelled/Forfeited (198 ) (1,686 ) (321 ) Outstanding, September 30, 2017 14,483 15,478 18,131

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Benefit or (Income) Cost Related to Pension and Postretirement Health Care and Life Insurance	The following table summarizes the benefit (income) cost related to our pension and postretirement health care and life insurance plans: (dollars in millions) Pension Health Care and Life Three Months Ended September 30, 2017 2016 2017 2016 Service cost $ 70 $ 82 $ 37 $ 40 Amortization of prior service cost (credit) 10 10 (235 ) (235 ) Expected return on plan assets (315 ) (257 ) (13 ) (13 ) Interest cost 171 162 164 162 Remeasurement loss, net — 555 — — Net periodic benefit (income) cost $ (64 ) $ 552 $ (47 ) $ (46 ) Termination benefits — 4 — — Total $ (64 ) $ 556 $ (47 ) $ (46 ) (dollars in millions) Pension Health Care and Life Nine Months Ended September 30, 2017 2016 2017 2016 Service cost $ 210 $ 238 $ 111 $ 153 Amortization of prior service cost (credit) 29 12 (705 ) (421 ) Expected return on plan assets (947 ) (785 ) (39 ) (41 ) Interest cost 513 518 494 583 Remeasurement loss, net — 1,977 — 2,293 Net periodic benefit (income) cost $ (195 ) $ 1,960 $ (139 ) $ 2,567 Termination benefits — 4 — — Total $ (195 ) $ 1,964 $ (139 ) $ 2,567

Equity and Accumulated Other 26

Equity and Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Schedule of Changes in Components of Total Equity	Changes in the components of Total equity were as follows: Attributable Noncontrolling Total (dollars in millions) to Verizon Interests Equity Balance at January 1, 2017 $ 22,524 $ 1,508 $ 24,032 Net income 11,432 335 11,767 Other comprehensive income 10 — 10 Comprehensive income 11,442 335 11,777 Contributed capital (84 ) — (84 ) Dividends declared (7,118 ) — (7,118 ) Common stock in treasury 122 — 122 Distributions and other (38 ) (240 ) (278 ) Balance at September 30, 2017 $ 26,848 $ 1,603 $ 28,451
Schedule of Components in Accumulated Other Comprehensive Income	The changes in the balances of Accumulated other comprehensive income by component are as follows: (dollars in millions) Foreign currency translation adjustments Unrealized loss on cash flow hedges Unrealized loss on marketable securities Defined benefit pension and postretirement plans Total Balance at January 1, 2017 $ (713 ) $ (80 ) $ 46 $ 3,420 $ 2,673 Other comprehensive income 205 619 14 316 1,154 Amounts reclassified to net income — (713 ) (19 ) (412 ) (1,144 ) Net other comprehensive income (loss) 205 (94 ) (5 ) (96 ) 10 Balance at September 30, 2017 $ (508 ) $ (174 ) $ 41 $ 3,324 $ 2,683

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Operating Information	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) 2017 2016 2017 2016 External Operating Revenues Wireless Service $ 15,823 $ 16,647 $ 47,158 $ 50,108 Equipment 4,352 4,124 12,414 11,782 Other 1,328 1,249 3,916 3,661 Total Wireless 21,503 22,020 63,488 65,551 Wireline Consumer Markets 3,203 3,174 9,588 9,519 Enterprise Solutions 2,262 2,273 6,881 6,887 Partner Solutions 997 990 2,993 3,015 Business Markets 903 834 2,700 2,534 Other 48 76 183 242 Total Wireline 7,413 7,347 22,345 22,197 Total reportable segments $ 28,916 $ 29,367 $ 85,833 $ 87,748 Intersegment Revenues Wireless $ 77 $ 81 $ 252 $ 258 Wireline 249 229 718 706 Total reportable segments $ 326 $ 310 $ 970 $ 964 Total Operating Revenues Wireless $ 21,580 $ 22,101 $ 63,740 $ 65,809 Wireline 7,662 7,576 23,063 22,903 Total reportable segments $ 29,242 $ 29,677 $ 86,803 $ 88,712 Operating Income (Loss) Wireless $ 7,603 $ 7,647 $ 22,089 $ 23,544 Wireline 65 73 318 (631 ) Total reportable segments $ 7,668 $ 7,720 $ 22,407 $ 22,913
Summary of Reconciliation of Segment Assets	At September 30, At December 31, (dollars in millions) 2017 2016 Assets Wireless $ 228,238 $ 211,345 Wireline 70,049 66,679 Total reportable segments 298,287 278,024 Corporate and other 224,236 213,787 Eliminations (267,841 ) (247,631 ) Total consolidated - reported $ 254,682 $ 244,180
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) 2017 2016 2017 2016 Total reportable segment operating revenues $ 29,242 $ 29,677 $ 86,803 $ 88,712 Corporate and other 2,796 1,403 6,034 4,078 Eliminations (375 ) (354 ) (1,126 ) (1,060 ) Operating results from divested businesses 54 211 368 1,910 Total consolidated operating revenues $ 31,717 $ 30,937 $ 92,079 $ 93,640
Summary of Reconciliation of Segment Operating Income	A reconciliation of the total of the reportable segments’ 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) 2017 2016 2017 2016 Total reportable segment operating income $ 7,668 $ 7,720 $ 22,407 $ 22,913 Corporate and other (311 ) (466 ) (910 ) (1,432 ) Severance, pension and benefit charges (Note 8) (1) — (797 ) (195 ) (4,512 ) Net gain on sale of divested businesses (Note 2) — — 1,774 1,007 Acquisition and integration related charges (Note 2, Note 8) (1) (166 ) — (730 ) — Gain on spectrum license transaction (Note 2) — — 126 142 Operating results from divested businesses 17 83 149 918 Total consolidated operating income 7,208 6,540 22,621 19,036 Equity in losses of unconsolidated businesses (22 ) (23 ) (71 ) (63 ) Other income (expense), net (511 ) 97 (1,376 ) (1,697 ) Interest expense (1,164 ) (1,038 ) (3,514 ) (3,239 ) Income Before Provision For Income Taxes $ 5,511 $ 5,576 $ 17,660 $ 14,037 (1) certain amounts have been reclassified to conform to the current period's presentation

Basis of Presentation (Detail)

Basis of Presentation (Detail) - USD ($) shares in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Restricted stock units outstanding to purchase shares included in diluted earnings per common share (in shares)	5	7	5	6
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New accounting standard update, impact on operating income	$ 7,208,000,000	$ 6,540,000,000	$ 22,621,000,000	$ 19,036,000,000
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New accounting standard update, impact on operating income	(200,000,000)	400,000,000	(700,000,000)	$ 4,100,000,000
New accounting standard update, impact on net income	$ 0	$ 0	0
Accounting Standards Update 2016-15
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New accounting standard update			$ 600,000,000		$ 1,100,000,000
Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New accounting standard update					$ 4,200,000,000

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Detail) $ / shares in Units, $ in Millions

Aug. 01, 2017USD ($)

Jun. 13, 2017USD ($)

May 11, 2017USD ($)$ / shares

Feb. 20, 2017USD ($)

Dec. 06, 2016USD ($)site

Jul. 23, 2016USD ($)

May 31, 2017USD ($)

Apr. 30, 2017USD ($)

Feb. 28, 2017USD ($)

Sep. 30, 2017USD ($)

Sep. 30, 2016USD ($)

Sep. 30, 2017USD ($)brand

Sep. 30, 2016USD ($)

Dec. 31, 2015USD ($)

May 01, 2017USD ($)

Dec. 31, 2016USD ($)

Business Acquisition [Line Items]

Assets held for sale

$ 275

$ 275

$ 882

Goodwill acquired

1,515

Proceeds from dispositions of businesses

3,614

$ 9,882

Operating Revenues

31,717

$ 30,937

92,079

93,640

Operating income

7,208

6,540

22,621

19,036

Pre-tax gain on sale of business

0

0

$ 1,774

1,007

Oath

Business Acquisition [Line Items]

Number of media and technology brands owned | brand

50

Data Center Sale with Equinix

Business Acquisition [Line Items]

Derecognition of net assets

$ 1,400

Data Center Sale with Equinix | Selling, general and administrative expense

Business Acquisition [Line Items]

Pre-tax gain on sale of business

$ 1,800

Data Center Sale with Equinix | United States and Latin America

Business Acquisition [Line Items]

Number of data center sites that were sold | site

23

Proceeds from dispositions of businesses

$ 3,600

Straight Path Communications Inc.

Business Acquisition [Line Items]

Purchase price (USD per share) | $ / shares

$ 184

Aggregate purchase price

$ 3,100

Business acquisition, purchase price in cash

$ 700

XO Holdings

Business Acquisition [Line Items]

Business acquisition, purchase price in cash

$ 1,800

$ 100

Business acquisition, cost of subsidiary acquired

$ 200

WideOpenWest, Inc.

Business Acquisition [Line Items]

Aggregate purchase price

$ 300

Yahoo! Inc.

Business Acquisition [Line Items]

Aggregate purchase price

$ 4,761

$ 4,480

$ 4,830

Business acquisition, purchase price in cash

4,723

Intangible assets subject to amortization

2,519

Purchase price reduction due to Purchase Agreement Amendment

$ 350

Post-closing liabilities arising from data breach percent retained

50.00%

Post-closing liabilities arising from shareholders percent retained

100.00%

Cash acquired

200

Yahoo! Inc. | Restricted Stock Units

Business Acquisition [Line Items]

Outstanding restricted stock units to be awarded to employees who transferred from yahoo

$ 1,000

Advanced Wireless Services Spectrum Licenses

Business Acquisition [Line Items]

Intangible assets acquired

1,000

Pre-tax gain on sale of wireless licenses

0

$ 0

126

$ 142

Wireless Licenses

Business Acquisition [Line Items]

Intangible assets acquired

108

Affiliates of AT&T Inc. | Advanced Wireless Services Spectrum Licenses

Business Acquisition [Line Items]

Intangible assets acquired

1,000

Pre-tax gain on sale of wireless licenses

100

Affiliates of Sprint Corporation | Personal Communication Services Spectrum Licenses

Business Acquisition [Line Items]

Intangible assets acquired

$ 100

Affiliates of T-Mobile USA, Inc. | Wireless Licenses

Business Acquisition [Line Items]

Assets held for sale

$ 300

$ 300

Acquisitions and Divestitures30

Acquisitions and Divestitures - Consideration and Preliminary Valuations (Detail) - USD ($) $ in Millions	Jun. 13, 2017	Feb. 20, 2017	Jul. 23, 2016	Sep. 30, 2017	Dec. 31, 2016
Assets acquired:
Goodwill				$ 28,725	$ 27,205
Yahoo! Inc.
Business Acquisition [Line Items]
Cash payment to Yahoo’s equity holders	$ 4,723
Estimated liabilities to be paid	38
Total consideration	4,761	$ 4,480	$ 4,830
Assets acquired:
Goodwill	1,041
Intangible assets subject to amortization	2,519
Property, plant, and equipment	1,805
Other	1,332
Total assets acquired	6,697
Liabilities assumed:
Total liabilities assumed	1,885
Net assets acquired:	4,812
Noncontrolling interest	(51)
Total consideration	$ 4,761

Acquisitions and Divestitures31

Acquisitions and Divestitures - Severance, Acquisition and Integration Related Charges (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Integration costs	$ 166	$ 0	$ 730	$ 0
Yahoo! Inc.
Business Acquisition [Line Items]
Severance	84	0	454	0
Transaction costs	1	0	67	0
Integration costs	60	0	116	0
Acquisition and Integration Related Charges	$ 145	$ 0	$ 637	$ 0

Wireless Licenses, Goodwill a32

Wireless Licenses, Goodwill and Other Intangible Assets - Changes in Carrying Amount of Wireless Licenses (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 86,673
Ending balance	87,883
Wireless Licenses
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	86,673
Acquisitions (Note 2)	108
Capitalized interest on wireless licenses	361
Reclassifications, adjustments and other	741
Ending balance	$ 87,883

Wireless Licenses, Goodwill a33

Wireless Licenses, Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Jun. 13, 2017	Dec. 31, 2016
Indefinite-lived Intangible Assets [Line Items]
Assets held for sale	$ 275		$ 882
Non-current assets held for sale	0		$ 613
Goodwill acquired	1,515
Yahoo! Inc.
Indefinite-lived Intangible Assets [Line Items]
Other intangible assets		$ 2,519
Corporate and other
Indefinite-lived Intangible Assets [Line Items]
Goodwill acquired	1,068
Corporate and other | Yahoo! Inc.
Indefinite-lived Intangible Assets [Line Items]
Goodwill acquired	1,000
Other intangible assets	2,500
Wireline | XO Holdings
Indefinite-lived Intangible Assets [Line Items]
Goodwill acquired	400
Other intangible assets	300
Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Intangible assets acquired	108
Wireless licenses under development	$ 10,000
Average remaining renewal period of wireless license portfolio (in years)	5 years 5 months
Advanced Wireless Services Spectrum Licenses
Indefinite-lived Intangible Assets [Line Items]
Intangible assets acquired	$ 1,000

Wireless Licenses, Goodwill a34

Wireless Licenses, Goodwill and Other Intangible Assets - Changes in Carrying Value of Goodwill (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill [Line Items]
Beginning balance	$ 27,205
Acquisitions (Note 2)	1,515
Reclassifications, adjustments and other	5
Ending balance	28,725
Operating Segments | Wireless
Goodwill [Line Items]
Beginning balance	18,393
Acquisitions (Note 2)	4
Reclassifications, adjustments and other	0
Ending balance	18,397
Operating Segments | Wireline
Goodwill [Line Items]
Beginning balance	3,784
Acquisitions (Note 2)	443
Reclassifications, adjustments and other	1
Ending balance	4,228
Corporate and other
Goodwill [Line Items]
Beginning balance	5,028
Acquisitions (Note 2)	1,068
Reclassifications, adjustments and other	4
Ending balance	$ 6,100

Wireless Licenses, Goodwill a35

Wireless Licenses, Goodwill and Other Intangible Assets - Composition of Other Intangible Assets, Net (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 24,254	$ 20,873
Accumulated Amortization	(13,261)	(11,976)
Net Amount	10,993	8,897
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Gross Amount	4,062	2,884
Accumulated Amortization	(623)	(480)
Net Amount	$ 3,439	2,404
Customer Lists | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets	5 years
Customer Lists | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets	13 years
Non-Network Internal-Use Software
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 17,663	16,135
Accumulated Amortization	(11,922)	(10,913)
Net Amount	$ 5,741	5,222
Non-Network Internal-Use Software | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets	5 years
Non-Network Internal-Use Software | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets	7 years
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 2,529	1,854
Accumulated Amortization	(716)	(583)
Net Amount	$ 1,813	$ 1,271
Other Intangible Assets | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets	2 years
Other Intangible Assets | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets	25 years

Wireless Licenses, Goodwill a36

Wireless Licenses, Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for other intangible assets	$ 536	$ 419	$ 1,473	$ 1,255
Remainder of 2017	547		547
2,018	2,036		2,036
2,019	1,763		1,763
2,020	1,469		1,469
2,021	1,239		1,239
2,022	$ 1,045		$ 1,045

Debt - Changes to Debt (Detail)

Debt - Changes to Debt (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Debt Maturing within One Year
Balance at January 1, 2017	$ 2,645
Proceeds from long-term borrowings	21,915	$ 8,152
Proceeds from asset-backed long-term borrowings	2,878	2,594
Repayments of long-term borrowings and capital leases obligations	(16,457)	(14,510)
Decrease in short-term obligations, excluding current maturities	(160)	(120)
Other	1,243
September 30, 2017	2,180
Long-term Debt
Balance at January 1, 2017	105,433
Proceeds from long-term borrowings	21,915	8,152
Proceeds from asset-backed long-term borrowings	2,878	2,594
Repayments of long-term borrowings and capital leases obligations	(16,457)	(14,510)
Other	1,243
September 30, 2017	115,317
Total
Balance at January 1, 2017	108,078
Proceeds from long-term borrowings	21,915	8,152
Proceeds from asset-backed long-term borrowings	2,878	2,594
Repayments of long-term borrowings and capital leases obligations	(16,457)	(14,510)
Decrease in short-term obligations, excluding current maturities	(160)	$ (120)
Reclassifications of long-term debt	0
Other	1,243
September 30, 2017	117,497
Long-term Debt
Debt Maturing within One Year
Proceeds from long-term borrowings	21,850
Proceeds from asset-backed long-term borrowings	2,878
Repayments of long-term borrowings and capital leases obligations	(11,954)
Decrease in short-term obligations, excluding current maturities	0
Other	1,055
Long-term Debt
Balance at January 1, 2017	105,433
Proceeds from long-term borrowings	21,850
Proceeds from asset-backed long-term borrowings	2,878
Repayments of long-term borrowings and capital leases obligations	(11,954)
Reclassifications of long-term debt	(3,945)
Other	1,055
September 30, 2017	115,317
Total
Proceeds from long-term borrowings	21,850
Proceeds from asset-backed long-term borrowings	2,878
Repayments of long-term borrowings and capital leases obligations	(11,954)
Decrease in short-term obligations, excluding current maturities	0
Other	1,055
Debt Maturing within One Year
Debt Maturing within One Year
Balance at January 1, 2017	2,645
Proceeds from long-term borrowings	65
Proceeds from asset-backed long-term borrowings	0
Repayments of long-term borrowings and capital leases obligations	(4,503)
Decrease in short-term obligations, excluding current maturities	(160)
Reclassifications of long-term debt	3,945
Other	188
September 30, 2017	2,180
Long-term Debt
Proceeds from long-term borrowings	65
Proceeds from asset-backed long-term borrowings	0
Repayments of long-term borrowings and capital leases obligations	(4,503)
Other	188
Total
Proceeds from long-term borrowings	65
Proceeds from asset-backed long-term borrowings	0
Repayments of long-term borrowings and capital leases obligations	(4,503)
Decrease in short-term obligations, excluding current maturities	(160)
Other	$ 188

Debt - Exchange Offers and Cash

Debt - Exchange Offers and Cash Offers (Detail)	1 Months Ended		9 Months Ended
	Aug. 31, 2017USD ($)offering	Feb. 28, 2017USD ($)offering	Sep. 30, 2017USD ($)	Mar. 31, 2017USD ($)
February Exchange Offers
Debt Instrument [Line Items]
Payments for debt exchange offers		$ 100,000,000
February Cash Offers
Debt Instrument [Line Items]
Payments for debt exchange offers		$ 500,000,000
Verizon Communications Inc
Debt Instrument [Line Items]
Aggregate principal amount				$ 11,000,000,000
Verizon Communications Inc | February Exchange Offers
Debt Instrument [Line Items]
Number of separate private offers | offering		18
Principal amount accepted for cash			$ 600,000,000
Principal amount purchased		$ 100,000,000
Verizon Communications Inc | 2.946% Notes due 2022
Debt Instrument [Line Items]
Stated interest rate on debt instrument		2.946%
Aggregate principal amount		$ 3,200,000,000
Verizon Communications Inc | 4.812% Notes due 2039
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.812%
Aggregate principal amount		$ 1,700,000,000
Verizon Communications Inc | 5.012% Notes due 2049
Debt Instrument [Line Items]
Stated interest rate on debt instrument		5.012%
Aggregate principal amount		$ 4,100,000,000
Verizon Communications Inc | February Cash Offers
Debt Instrument [Line Items]
Principal amount purchased		500,000,000
Verizon Communications Inc | 3.383% Notes due 2025
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.376%
Aggregate principal amount	$ 4,000,000,000
Verizon Communications Inc | August Exchange Offers
Debt Instrument [Line Items]
Number of separate private offers | offering	17
Payments for debt exchange offers	$ 3,000,000,000
Principal amount purchased	3,000,000,000
Old Notes in Exchange New Notes | Verizon Communications Inc | February Exchange Offers
Debt Instrument [Line Items]
Principal amount accepted for exchange		$ 8,300,000,000
Old Notes in Exchange New Notes | Verizon Communications Inc | August Exchange Offers
Debt Instrument [Line Items]
Principal amount accepted for exchange	$ 4,000,000,000
Minimum | Old Notes in Exchange New Notes | Verizon Communications Inc | February Exchange Offers
Debt Instrument [Line Items]
Stated interest rate on debt instrument		1.375%
Minimum | Old Notes in Exchange New Notes | Verizon Communications Inc | August Exchange Offers
Debt Instrument [Line Items]
Stated interest rate on debt instrument	1.375%
Maximum | Old Notes in Exchange New Notes | Verizon Communications Inc | February Exchange Offers
Debt Instrument [Line Items]
Stated interest rate on debt instrument		8.95%
Maximum | Old Notes in Exchange New Notes | Verizon Communications Inc | August Exchange Offers
Debt Instrument [Line Items]
Stated interest rate on debt instrument	8.75%

Debt - Term Loan Credit Agreeme

Debt - Term Loan Credit Agreement (Details) - Term Loan Agreement $ in Billions	1 Months Ended
	Mar. 31, 2017USD ($)
Debt Instrument [Line Items]
Term loan agreement prepaid amount	$ 1.7
Amount drawn down	$ 3.3

Debt - Tender Offer to Purchase

Debt - Tender Offer to Purchase (Detail)	Mar. 13, 2017USD ($)	Aug. 31, 2017USD ($)offering	Mar. 31, 2017USD ($)offering	Mar. 20, 2017USD ($)
March Tender Offer
Debt Instrument [Line Items]
Debt tender offer, consideration paid	$ 3,800,000,000
March Tender Offer | Verizon Communications Notes
Debt Instrument [Line Items]
Principal amount purchased				$ 2,800,000,000
March Tender Offer | Operating Telephone Company Subsidiary Debentures
Debt Instrument [Line Items]
Principal amount purchased				200,000,000
March Tender Offer | GTE LLC Notes
Debt Instrument [Line Items]
Principal amount purchased				$ 100,000,000
August Tender Offer
Debt Instrument [Line Items]
Debt tender offer, consideration paid		$ 2,100,000,000
August Tender Offer | Verizon Communications Notes
Debt Instrument [Line Items]
Principal amount purchased		1,500,000,000
August Tender Offer | Operating Telephone Company Subsidiary Debentures
Debt Instrument [Line Items]
Principal amount purchased		100,000,000
August Tender Offer | Alltel Corporation Notes
Debt Instrument [Line Items]
Principal amount purchased		$ 200,000,000
Verizon Communications Inc
Debt Instrument [Line Items]
Aggregate principal amount			$ 11,000,000,000
Verizon Communications Inc | March Tender Offer
Debt Instrument [Line Items]
Number of separate private tender offers | offering			30
Verizon Communications Inc | August Tender Offer
Debt Instrument [Line Items]
Number of separate private tender offers | offering		29
Minimum | Verizon Communications Inc | March Tender Offer
Debt Instrument [Line Items]
Stated interest rate on debt instrument			5.125%
Minimum | Verizon Communications Inc | August Tender Offer
Debt Instrument [Line Items]
Stated interest rate on debt instrument		5.05%
Maximum | Verizon Communications Inc | March Tender Offer
Debt Instrument [Line Items]
Stated interest rate on debt instrument			8.95%
Maximum | Verizon Communications Inc | August Tender Offer
Debt Instrument [Line Items]
Stated interest rate on debt instrument		8.95%

Debt - Debt Issuances and Redem

Debt - Debt Issuances and Redemptions (Details)	1 Months Ended							9 Months Ended
	Sep. 30, 2017USD ($)	Aug. 31, 2017USD ($)Debt_Instrument	Jun. 30, 2017USD ($)	May 31, 2017USD ($)	Apr. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Feb. 28, 2017USD ($)	Sep. 30, 2017USD ($)	Aug. 31, 2017AUD	May 31, 2017CHF (SFr)
Debt Instrument [Line Items]
Minimum threshhold term								9 months
Notes payable	$ 700,000,000							$ 700,000,000
4.950% Notes due 2047
Debt Instrument [Line Items]
Stated interest rate on debt instrument							4.95%
Proceeds from long-term borrowings							$ 1,500,000,000
GTE LLC | 6.940% Debentures due 2028 | February Redemption
Debt Instrument [Line Items]
Amount of notes repaid							200,000,000
Aggregate principal amount							$ 600,000,000
Stated interest rate on debt instrument							6.94%
Notes purchased price of principal amount of note, percentage							124.80%
Verizon Communications Inc
Debt Instrument [Line Items]
Aggregate principal amount						$ 11,000,000,000
Proceeds from long-term borrowings				$ 1,000,000,000		$ 10,900,000,000
Verizon Communications Inc | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate						1.00%
Verizon Communications Inc | 4.950% Notes due 2047
Debt Instrument [Line Items]
Aggregate principal amount							$ 1,500,000,000
Verizon Communications Inc | Floating Rate Notes
Debt Instrument [Line Items]
Amount of notes repaid			$ 1,300,000,000
Aggregate principal amount						$ 1,400,000,000
Verizon Communications Inc | 3.125% Notes due 2022
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,850,000,000
Stated interest rate on debt instrument						3.125%
Verizon Communications Inc | 4.125% Notes due 2027
Debt Instrument [Line Items]
Aggregate principal amount						$ 3,250,000,000
Stated interest rate on debt instrument						4.125%
Verizon Communications Inc | 5.250% Notes due 2037
Debt Instrument [Line Items]
Aggregate principal amount						$ 3,000,000,000
Stated interest rate on debt instrument						5.25%
Verizon Communications Inc | 5.500% Notes due 2047
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,500,000,000
Stated interest rate on debt instrument						5.50%
Verizon Communications Inc | 6.100% Notes due 2018 | April Redemption
Debt Instrument [Line Items]
Amount of notes repaid					$ 500,000,000
Stated interest rate on debt instrument					6.10%
Notes purchased price of principal amount of note, percentage					104.485%
Verizon Communications Inc | 5.500% Notes due 2018 | April Redemption
Debt Instrument [Line Items]
Amount of notes repaid					$ 500,000,000
Stated interest rate on debt instrument					5.50%
Notes purchased price of principal amount of note, percentage					103.323%
Verizon Communications Inc | Floating Rate Notes due 2020
Debt Instrument [Line Items]
Aggregate principal amount				1,500,000,000
Proceeds from long-term borrowings				$ 1,500,000,000
Verizon Communications Inc | Floating Rate Notes due 2020 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate				0.55%
Verizon Communications Inc | 0.375% Bonds due 2023
Debt Instrument [Line Items]
Aggregate principal amount | SFr										SFr 600,000,000
Stated interest rate on debt instrument				0.375%						0.375%
Verizon Communications Inc | 1.000% Bonds due 2027
Debt Instrument [Line Items]
Aggregate principal amount | SFr										SFr 400,000,000
Stated interest rate on debt instrument				1.00%						1.00%
Verizon Communications Inc | 2.600% to 4.900% Notes | Minimum
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.60%							2.60%
Verizon Communications Inc | 2.600% to 4.900% Notes | Maximum
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.90%							4.90%
Verizon Communications Inc | 1.100% Notes due 2017
Debt Instrument [Line Items]
Amount of notes repaid			$ 500,000,000
Stated interest rate on debt instrument			1.10%
Notes purchased price of principal amount of note, percentage			100.003%
Verizon Communications Inc | 4.500% Notes due 2033
Debt Instrument [Line Items]
Aggregate principal amount		$ 3,000,000,000
Stated interest rate on debt instrument		4.50%							4.50%
Proceeds from long-term borrowings		$ 3,000,000,000
Verizon Communications Inc | Series of Australian Dollar (AUD) denominated Notes
Debt Instrument [Line Items]
Proceeds from long-term borrowings		$ 1,700,000,000
Debt Instrument, Number | Debt_Instrument		4
Verizon Communications Inc | AUD denominated 3.500% Notes due 2023
Debt Instrument [Line Items]
Aggregate principal amount | AUD									AUD 550,000,000
Stated interest rate on debt instrument		3.50%							3.50%
Verizon Communications Inc | AUD denominated 4.050% Notes due 2025
Debt Instrument [Line Items]
Aggregate principal amount | AUD									AUD 450,000,000
Stated interest rate on debt instrument		4.05%							4.05%
Verizon Communications Inc | AUD denominated 4.500% Notes due 2027
Debt Instrument [Line Items]
Aggregate principal amount | AUD									AUD 700,000,000
Stated interest rate on debt instrument		4.50%							4.50%
Verizon Communications Inc | AUD denominated Floating Rate Notes due 2023
Debt Instrument [Line Items]
Aggregate principal amount | AUD									AUD 500,000,000
Verizon Communications Inc | Floating Rate Notes due 2023 | Bank Bill Swap Reference Rate (BBSW)
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate		1.22%
Verizon Communications Inc | 5.150% Notes due 2050
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,000,000,000
Stated interest rate on debt instrument		5.15%							5.15%
Proceeds from long-term borrowings		$ 900,000,000
Verizon Communications Inc | 3.650% Notes due 2018 | September Redemption
Debt Instrument [Line Items]
Amount of notes repaid	$ 1,300,000,000
Stated interest rate on debt instrument	3.65%							3.65%
Notes purchased price of principal amount of note, percentage	101.961%
Qualified Pension Plans
Debt Instrument [Line Items]
Defined benefit plan discretionary contributions by employer								$ 3,400,000,000

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Oct. 01, 2017	Jun. 30, 2017	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2017	Jul. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Borrowing capacity			$ 9,000,000,000		$ 9,000,000,000
Amount of unused borrowing capacity under credit facility			8,900,000,000		8,900,000,000
Net pre-tax losses on early debt redemption			500,000,000		1,300,000,000
Principal amount outstanding in connection with the guarantee of debt obligations			117,497,000,000		117,497,000,000		$ 108,078,000,000
Asset-Backed Debt
Debt Instrument [Line Items]
Asset-backed debt			7,900,000,000		7,900,000,000
Guarantee of Debentures of Operating Telephone Company Subsidiaries
Debt Instrument [Line Items]
Principal amount outstanding in connection with the guarantee of debt obligations			1,000,000,000		1,000,000,000
Guarantee of Debt Obligations of GTE Corporation
Debt Instrument [Line Items]
Principal amount outstanding in connection with the guarantee of debt obligations			800,000,000		800,000,000
ABS Financing Facility
Debt Instrument [Line Items]
Asset-backed debt			2,800,000,000		$ 2,800,000,000
Collateral revolving period					2 years
Senior and junior asset-backed notes | Asset Backed Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,300,000,000		$ 1,300,000,000
Class A Senior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		1.92%		2.06%
Debt instrument maturity period		2 years 5 months 20 days		2 years 7 months 6 days
Class B Junior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		2.22%		2.45%
Debt instrument maturity period		3 years 1 month 9 days		3 years 4 months 17 days
Class C Junior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		2.38%		2.65%
Debt instrument maturity period		3 years 4 months 2 days		3 years 7 months 21 days
Network Equipment
Debt Instrument [Line Items]
Borrowing capacity			1,000,000,000		$ 1,000,000,000
Network Equipment | Maximum
Debt Instrument [Line Items]
Amount drawn down			900,000,000		900,000,000
Network Equipment | Vendor Financing Facility
Debt Instrument [Line Items]
Value of purchase assets financed					1,100,000,000
Long-term debt maturing within one year			$ 400,000,000		$ 400,000,000
Equipment Credit Facilities
Debt Instrument [Line Items]
Borrowing capacity						$ 4,000,000,000
Subsequent Event | Senior and junior asset-backed notes | Asset Backed Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,400,000,000
Subsequent Event | Class A-1a Senior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.06%
Debt instrument maturity period	2 years 5 months 24 days
Subsequent Event | Class A-1b Senior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Debt instrument maturity period	2 years 5 months 24 days
Subsequent Event | Class B Junior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.38%
Debt instrument maturity period	3 years 1 month 12 days
Subsequent Event | Class C Junior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.53%
Debt instrument maturity period	3 years 4 months 6 days
London Interbank Offered Rate (LIBOR) | Subsequent Event | Class A-1b Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	0.27%

Debt - Assets and Liabilities R

Debt - Assets and Liabilities Related to Asset-backed Debt Arrangements (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Account receivable, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	$ 7,395	$ 3,383
Prepaid expenses and other
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	444	236
Other assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	2,666	2,383
Accounts payable and accrued liabilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	4	4
Short-term portion of long-term debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	633	0
Long-term debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	$ 7,237	$ 4,988

Wireless Device Payment Plans -

Wireless Device Payment Plans - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables transferred to ABS Entities	$ 10,000,000,000		$ 10,000,000,000
Number of customer tenure days			210 days
Receivables derecognized under receivable securitization program	600,000,000	$ 6,400,000,000	$ 600,000,000	$ 6,400,000,000
Total portfolio of device payment plan agreement receivables	16,000,000,000		16,000,000,000
Device payment plan agreement receivables sold, net	0	0	0	3,300,000,000
Cash proceeds received from new transfers				2,000,000,000
Cash proceeds received from reinvested collections				900,000,000
Deferred purchase price recorded				400,000,000
Finance receivables collected and remitted, net of fees			10,100,000,000
Maximum exposure to loss related to involvement with sellers	500,000,000		500,000,000
Other assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred purchase price receivable					$ 400,000,000
Prepaid expenses and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred purchase price receivable	500,000,000		500,000,000		$ 1,200,000,000
Cash flows provided by operating activities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred purchase price receivable collected		$ 400,000,000	600,000,000	$ 500,000,000
Cash flows used in investing activities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred purchase price receivable collected	$ 500,000,000		$ 500,000,000

Wireless Device Payment Plans45

Wireless Device Payment Plans - Schedule of Components (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 15,434	$ 11,797
Unamortized imputed interest	(716)	(511)
Device payment plan agreement receivables, net of unamortized imputed interest	14,718	11,286
Allowance for credit losses	(727)	(688)	$ (601)	$ (444)
Device payment plan agreement receivables, net	13,991	10,598
Account receivable, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, net	9,860	6,140
Other assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, net	$ 4,131	$ 4,458

Wireless Device Payment Plans46

Wireless Device Payment Plans - Balance and Aging of Receivables (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 15,434	$ 11,797
Unbilled
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, current	14,508	11,089
Billed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, current	760	557
Device payment plan agreement receivables, past due	$ 166	$ 151

Wireless Device Payment Plans47

Wireless Device Payment Plans - Allowance for Credit Losses (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at January 1, 2017	$ 688	$ 444
Bad debt expense	477	437
Write-offs	(438)	(347)
Allowance related to receivables sold	0	59
Other	0	8
Balance at September 30, 2017	$ 727	$ 601

Fair Value Measurements - Measu

Fair Value Measurements - Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	$ 955	$ 825
Fair value of liabilities measured on a recurring basis	1,241	2,039
Other assets | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	79	123
Other assets | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	378	576
Other assets | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	162	71
Other assets | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	333	45
Other assets | Interest rate cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	3	10
Other Liabilities | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	183	236
Other Liabilities | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	1,058	1,803
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	79	133
Fair value of liabilities measured on a recurring basis	0	0
Level 1 | Other assets | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	79	123
Level 1 | Other assets | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	10
Level 1 | Other assets | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Level 1 | Other assets | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Level 1 | Other assets | Interest rate cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Level 1 | Other Liabilities | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	0	0
Level 1 | Other Liabilities | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	876	692
Fair value of liabilities measured on a recurring basis	1,241	2,039
Level 2 | Other assets | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Level 2 | Other assets | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	378	566
Level 2 | Other assets | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	162	71
Level 2 | Other assets | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	333	45
Level 2 | Other assets | Interest rate cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	3	10
Level 2 | Other Liabilities | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	183	236
Level 2 | Other Liabilities | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	1,058	1,803
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Fair value of liabilities measured on a recurring basis	0	0
Level 3 | Other assets | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Level 3 | Other assets | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Level 3 | Other assets | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Level 3 | Other assets | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Level 3 | Other assets | Interest rate cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	0	0
Level 3 | Other Liabilities | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	0	0
Level 3 | Other Liabilities | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	$ 0	$ 0

Fair Value Measurements - Debt

Fair Value Measurements - Debt Excluding Capital Leases (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short- and long-term debt, excluding capital leases	$ 116,512	$ 107,128
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short- and long-term debt, excluding capital leases	$ 128,096	$ 117,584

Fair Value Measurements - Notio

Fair Value Measurements - Notional Amounts of Outstanding Derivative Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Interest rate swaps
Derivative [Line Items]
Notional Amount	$ 20,168	$ 13,099
Cross currency swaps
Derivative [Line Items]
Notional Amount	15,666	12,890
Interest rate cap
Derivative [Line Items]
Notional Amount	$ 2,840	$ 2,540

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Collateral related to derivative contracts	$ 0		$ 0				$ 200,000,000
Net Investment Hedges | Euro Denominated Debt
Derivatives, Fair Value [Line Items]
Notional Amount	900,000,000		900,000,000				800,000,000
Forward Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Pre-tax gains (loss) recognized in other comprehensive income (loss)				$ (200,000,000)
New Cross Currency Swaps | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Notional Amount	1,800,000,000		1,800,000,000		$ 1,000,000,000
New Interest Rate Swaps | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Notional Amount	4,000,000,000		4,000,000,000			$ 3,500,000,000
Settled Interest Rate Swaps | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Notional Amount	500,000,000		500,000,000
Cross currency swaps
Derivatives, Fair Value [Line Items]
Notional Amount	15,666,000,000		15,666,000,000				$ 12,890,000,000
Pre-tax gains (loss) recognized in other comprehensive income (loss)	$ 500,000,000	$ 300,000,000	$ 1,000,000,000	$ 100,000,000
New Interest Rate Caps
Derivatives, Fair Value [Line Items]
Notional Amount					$ 300,000,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Billions	9 Months Ended
	Sep. 30, 2017USD ($)installment$ / shares	May 31, 2017shares
Restricted Stock Units and Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to the unvested portion of RSUs and PSUs | $	$ 1.2
Weighted-average period of unrecognized compensation expense related to the unvested portion of RSUs and PSUs (in years)	2 years
Restricted Stock Units Equity Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal vesting installments | installment	3
Weighted average grant date fair value (USD per share) | $ / shares	$ 49.93
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	3 years
Verizon 2009 Plan Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved under stock based compensation | shares		91,000,000

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted and Performance Stock Unit Activity (Detail) shares in Thousands	9 Months Ended
	Sep. 30, 2017shares
Restricted Stock Units Equity Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance (in shares)	13,308
Granted (in shares)	6,360
Payments (in shares)	(4,987)
Cancelled/Forfeited (in shares)	(198)
Ending Balance (in shares)	14,483
Restricted Stock Units Liability Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance (in shares)	0
Granted (in shares)	22,073
Payments (in shares)	(4,909)
Cancelled/Forfeited (in shares)	(1,686)
Ending Balance (in shares)	15,478
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance (in shares)	17,919
Granted (in shares)	6,564
Payments (in shares)	(6,031)
Cancelled/Forfeited (in shares)	(321)
Ending Balance (in shares)	18,131

Employee Benefits - Costs by Pl

Employee Benefits - Costs by Plans (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 70	$ 82	$ 210	$ 238
Amortization of prior service cost (credit)	10	10	29	12
Expected return on plan assets	(315)	(257)	(947)	(785)
Interest cost	171	162	513	518
Remeasurement loss, net	0	555	0	1,977
Net periodic benefit (income) cost	(64)	552	(195)	1,960
Termination benefits	0	4	0	4
Total	(64)	556	(195)	1,964
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	37	40	111	153
Amortization of prior service cost (credit)	(235)	(235)	(705)	(421)
Expected return on plan assets	(13)	(13)	(39)	(41)
Interest cost	164	162	494	583
Remeasurement loss, net	0	0	0	2,293
Net periodic benefit (income) cost	(47)	(46)	(139)	2,567
Termination benefits	0	0	0	0
Total	$ (47)	$ (46)	$ (139)	$ 2,567

Employee Benefits - Additional

Employee Benefits - Additional Information (Detail) $ in Billions	Aug. 31, 2016	May 31, 2016USD ($)plan	Apr. 01, 2016USD ($)plan	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)plan	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)plan	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)plan	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Severance, pension and benefit charges				$ 0.1	$ 0.2			$ 0.7
Expected return on plan assets assumption	7.00%
Annualized actual return on assets	11.00%
Amount paid in severance benefits over the period				0.2				0.6
Post employment benefits liability				0.6				0.6
Weighted Average
Defined Benefit Plan Disclosure [Line Items]
Discount rate assumption	3.61%	3.99%								4.60%
Pension and Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Severance, pension and benefit charges					0.8	$ 3.6	$ 0.2
Gain (loss) due to curtailment									$ 0.5
Lump Sum Distributions | Pension and Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges		$ 0.1			$ (0.6)
Number of defined benefit pension plans | plan		3			5		1		5
Change in Discount Rate Assumption | Pension and Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges		$ 2.7			$ 0.8
Difference Between Expected Return On Assets and Annualized Actual Return on Assets | Pension and Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges					$ (0.2)
Defined Benefit Plan Curtailments | Pension and Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges			$ 0.8
Number of defined benefit pension plans | plan			3		3				3
Number of other postretirement benefit plans | plan			1		1				1
Contractual Healthcare Caps and Bargain | Pension and Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges		$ 2.7
Number of defined benefit pension plans | plan		2
Number of other postretirement benefit plans | plan		3
Charges Primarily Driven by Updated Health Care Trend Cost Assumptions | Pension and Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges		$ 0.9
Qualified Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan contributions by employer				0.2				4
Defined benefit plan discretionary contributions by employer								3.4
Nonqualified Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan contributions by employer				0.1				$ 0.1
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Reduction in benefit plan obligations				0.5
Increase in accumulated comprehensive income for plan amendments, net of tax				0.3
Increase in accumulated comprehensive income for plan amendments, taxes				$ 0.2

Equity and Accumulated Other 56

Equity and Accumulated Other Comprehensive Income - Changes in Components of Total equity (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at January 1, 2017			$ 24,032
Net Income	$ 3,736	$ 3,747	11,767	$ 9,008
Other comprehensive income			10
Total Comprehensive Income	4,135	$ 3,658	11,777	$ 11,216
Contributed capital			(84)
Dividends declared			(7,118)
Common stock in treasury			122
Distributions and other			(278)
Balance at September 30, 2017	28,451		28,451
Verizon
Equity Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at January 1, 2017			22,524
Net Income			11,432
Other comprehensive income			10
Total Comprehensive Income			11,442
Contributed capital			(84)
Dividends declared			(7,118)
Common stock in treasury			122
Distributions and other			(38)
Balance at September 30, 2017	26,848		26,848
Noncontrolling Interests
Equity Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at January 1, 2017			1,508
Net Income			335
Other comprehensive income			0
Total Comprehensive Income			335
Contributed capital			0
Dividends declared			0
Common stock in treasury			0
Distributions and other			(240)
Balance at September 30, 2017	$ 1,603		$ 1,603

Equity and Accumulated Other 57

Equity and Accumulated Other Comprehensive Income - Additional Information (Detail) - shares	9 Months Ended
	Sep. 30, 2017	Mar. 03, 2017
Stockholders' Equity Note [Abstract]
Stock repurchase program, number of shares authorized to be repurchased		100,000,000
Common shares issued from Treasury stock	2,800,000

Equity and Accumulated Other 58

Equity and Accumulated Other Comprehensive Income - Changes in AOCI (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Balance at January 1, 2017	$ 24,032
Net other comprehensive income (loss)	10
Balance at September 30, 2017	28,451
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Balance at January 1, 2017	(713)
Other comprehensive income	205
Amounts reclassified to net income	0
Net other comprehensive income (loss)	205
Balance at September 30, 2017	(508)
Unrealized loss on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Balance at January 1, 2017	(80)
Other comprehensive income	619
Amounts reclassified to net income	(713)
Net other comprehensive income (loss)	(94)
Balance at September 30, 2017	(174)
Unrealized loss on marketable securities
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Balance at January 1, 2017	46
Other comprehensive income	14
Amounts reclassified to net income	(19)
Net other comprehensive income (loss)	(5)
Balance at September 30, 2017	41
Defined benefit pension and postretirement plans
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Balance at January 1, 2017	3,420
Other comprehensive income	316
Amounts reclassified to net income	(412)
Net other comprehensive income (loss)	(96)
Balance at September 30, 2017	3,324
Accumulated Other Comprehensive Income
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Balance at January 1, 2017	2,673
Other comprehensive income	1,154
Amounts reclassified to net income	(1,144)
Net other comprehensive income (loss)	10
Balance at September 30, 2017	$ 2,683

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segment	Sep. 30, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2
Segment reporting information, revenue	$ 31,717	$ 30,937	$ 92,079	$ 93,640
Fios revenues | Wireline
Segment Reporting Information [Line Items]
Segment reporting information, revenue	$ 2,900	$ 2,800	$ 8,700	$ 8,300

Segment Information - Operating

Segment Information - Operating Financial Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Operating Revenues	$ 31,717	$ 30,937	$ 92,079	$ 93,640
Operating Income (Loss)	7,208	6,540	22,621	19,036
External Operating Revenues
Segment Reporting Information [Line Items]
Operating Revenues	28,916	29,367	85,833	87,748
External Operating Revenues | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	21,503	22,020	63,488	65,551
External Operating Revenues | Wireless | Service
Segment Reporting Information [Line Items]
Operating Revenues	15,823	16,647	47,158	50,108
External Operating Revenues | Wireless | Equipment
Segment Reporting Information [Line Items]
Operating Revenues	4,352	4,124	12,414	11,782
External Operating Revenues | Wireless | Other
Segment Reporting Information [Line Items]
Operating Revenues	1,328	1,249	3,916	3,661
External Operating Revenues | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	7,413	7,347	22,345	22,197
External Operating Revenues | Wireline | Consumer Markets
Segment Reporting Information [Line Items]
Operating Revenues	3,203	3,174	9,588	9,519
External Operating Revenues | Wireline | Enterprise Solutions
Segment Reporting Information [Line Items]
Operating Revenues	2,262	2,273	6,881	6,887
External Operating Revenues | Wireline | Partner Solutions
Segment Reporting Information [Line Items]
Operating Revenues	997	990	2,993	3,015
External Operating Revenues | Wireline | Business Markets
Segment Reporting Information [Line Items]
Operating Revenues	903	834	2,700	2,534
External Operating Revenues | Wireline | Other
Segment Reporting Information [Line Items]
Operating Revenues	48	76	183	242
Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	29,242	29,677	86,803	88,712
Operating Income (Loss)	7,668	7,720	22,407	22,913
Operating Segments | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	21,580	22,101	63,740	65,809
Operating Income (Loss)	7,603	7,647	22,089	23,544
Operating Segments | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	7,662	7,576	23,063	22,903
Operating Income (Loss)	65	73	318	(631)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Operating Revenues	326	310	970	964
Intersegment Eliminations | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	77	81	252	258
Intersegment Eliminations | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	$ 249	$ 229	$ 718	$ 706

Segment Information - Reconcili

Segment Information - Reconciliation of Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Assets	$ 254,682	$ 244,180
Operating Segments
Segment Reporting Information [Line Items]
Assets	298,287	278,024
Operating Segments | Wireless
Segment Reporting Information [Line Items]
Assets	228,238	211,345
Operating Segments | Wireline
Segment Reporting Information [Line Items]
Assets	70,049	66,679
Corporate and other
Segment Reporting Information [Line Items]
Assets	224,236	213,787
Eliminations
Segment Reporting Information [Line Items]
Assets	$ (267,841)	$ (247,631)

Segment Information - Reconci62

Segment Information - Reconciliation of Operating Revenues (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	$ 31,717	$ 30,937	$ 92,079	$ 93,640
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	29,242	29,677	86,803	88,712
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	2,796	1,403	6,034	4,078
Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	(375)	(354)	(1,126)	(1,060)
Operating results from divested businesses
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	$ 54	$ 211	$ 368	$ 1,910

Segment Information - Reconci63

Segment Information - Reconciliation of Segments Operating Income to Consolidated Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Severance, pension and benefit charges (Note 8) (1)	$ 0	$ (797)	$ (195)	$ (4,512)
Net gain on sale of divested businesses (Note 2)	0	0	1,774	1,007
Acquisition and integration related charges (Note 2, Note 8) (1)	(166)	0	(730)	0
Operating income	7,208	6,540	22,621	19,036
Equity in losses of unconsolidated businesses	(22)	(23)	(71)	(63)
Other income (expense), net	(511)	97	(1,376)	(1,697)
Interest expense	(1,164)	(1,038)	(3,514)	(3,239)
Income Before Provision For Income Taxes	5,511	5,576	17,660	14,037
Advanced Wireless Services Spectrum Licenses
Segment Reporting Information [Line Items]
Gain on spectrum license transaction (Note 2)	0	0	126	142
Operating Segments
Segment Reporting Information [Line Items]
Operating income	7,668	7,720	22,407	22,913
Corporate and other
Segment Reporting Information [Line Items]
Operating income	(311)	(466)	(910)	(1,432)
Operating results from divested businesses
Segment Reporting Information [Line Items]
Operating income	$ 17	$ 83	$ 149	$ 918

Commitments and Contingencies (

Commitments and Contingencies (Detail)	9 Months Ended
	Sep. 30, 2017legal_matter
Commitments and Contingencies Disclosure [Abstract]
Approximate number of federal district court actions alleged for patent infringement	40
Guarantee obligations, term	30 years