Verizon Communications (VZ) 10-K 21 Feb 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2019	Jan. 31, 2020	Jun. 30, 2019
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	1-8606
Entity Registrant Name	Verizon Communications Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-2259884
Entity Address, Address Line One	1095 Avenue of the Americas
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	212
Local Phone Number	395-1000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 236,226,048,492
Entity Common Stock, Shares Outstanding		4,135,863,778
Documents Incorporated by Reference	Portions of the registrant’s Annual Report to Shareholders for the year ended December 31, 2019 (Parts I and II). Portions of the registrant’s definitive Proxy Statement to be delivered to shareholders in connection with the registrant’s 2020 Annual Meeting of Shareholders (Part III).
Entity Central Index Key	0000732712
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
2.375% Notes due 2022
Document Information [Line Items]
Title of 12(b) Security	2.375% Notes due 2022
Trading Symbol	VZ22A
Security Exchange Name	NYSE
0.500% Notes due 2022
Document Information [Line Items]
Title of 12(b) Security	0.500% Notes due 2022
Trading Symbol	VZ22B
Security Exchange Name	NYSE
1.625% Notes due 2024
Document Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2024
Trading Symbol	VZ24B
Security Exchange Name	NYSE
4.073% Notes due 2024
Document Information [Line Items]
Title of 12(b) Security	4.073% Notes due 2024
Trading Symbol	VZ24C
Security Exchange Name	NYSE
0.875% Notes due 2025
Document Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2025
Trading Symbol	VZ25
Security Exchange Name	NYSE
3.250% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	3.250% Notes due 2026
Trading Symbol	VZ26
Security Exchange Name	NYSE
1.375% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2026
Trading Symbol	VZ26B
Security Exchange Name	NYSE
0.875% Notes due 2027
Document Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2027
Trading Symbol	VZ27E
Security Exchange Name	NYSE
1.375% Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2028
Trading Symbol	VZ28
Security Exchange Name	NYSE
1.875% Notes due 2029
Document Information [Line Items]
Title of 12(b) Security	1.875% Notes due 2029
Trading Symbol	VZ29B
Security Exchange Name	NYSE
1.250% Notes due 2030
Document Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2030
Trading Symbol	VZ30
Security Exchange Name	NYSE
1.875% Notes due 2030
Document Information [Line Items]
Title of 12(b) Security	1.875% Notes due 2030
Trading Symbol	VZ30A
Security Exchange Name	NYSE
2.625% Notes due 2031
Document Information [Line Items]
Title of 12(b) Security	2.625% Notes due 2031
Trading Symbol	VZ31
Security Exchange Name	NYSE
2.500% Notes due 2031
Document Information [Line Items]
Title of 12(b) Security	2.500% Notes due 2031
Trading Symbol	VZ31A
Security Exchange Name	NYSE
0.875% Notes due 2032
Document Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2032
Trading Symbol	VZ32
Security Exchange Name	NYSE
4.750% Notes due 2034
Document Information [Line Items]
Title of 12(b) Security	4.750% Notes due 2034
Trading Symbol	VZ34
Security Exchange Name	NYSE
3.125% Notes due 2035
Document Information [Line Items]
Title of 12(b) Security	3.125% Notes due 2035
Trading Symbol	VZ35
Security Exchange Name	NYSE
3.375% Notes due 2036
Document Information [Line Items]
Title of 12(b) Security	3.375% Notes due 2036
Trading Symbol	VZ36A
Security Exchange Name	NYSE
2.875% Notes due 2038
Document Information [Line Items]
Title of 12(b) Security	2.875% Notes due 2038
Trading Symbol	VZ38B
Security Exchange Name	NYSE
1.500% Notes due 2039
Document Information [Line Items]
Title of 12(b) Security	1.500% Notes due 2039
Trading Symbol	VZ39C
Security Exchange Name	NYSE
New York Stock Exchange | Common Stock, par value $0.10
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.10
Trading Symbol	VZ
Security Exchange Name	NYSE
The NASDAQ Global Select Market | Common Stock, par value $0.10
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.10
Trading Symbol	VZ
Security Exchange Name	NASDAQ

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Revenues
Operating Revenues	$ 131,868	$ 130,863	$ 126,034
Operating Expenses
Selling, general and administrative expense (including net gain/(loss) on sale of divested businesses of $(94), $0 and $1,774, respectively)	29,896	31,083	28,592
Depreciation and amortization expense	16,682	17,403	16,954
Media goodwill impairment	186	4,591	0
Total Operating Expenses	101,490	108,585	98,609
Operating Income	30,378	22,278	27,425
Equity in losses of unconsolidated businesses	(15)	(186)	(77)
Other income (expense), net	(2,900)	2,364	(2,021)
Interest expense	(4,730)	(4,833)	(4,733)
Income Before (Provision) Benefit For Income Taxes	22,733	19,623	20,594
(Provision) benefit for income taxes	(2,945)	(3,584)	9,956
Net Income	19,788	16,039	30,550
Net income attributable to noncontrolling interests	523	511	449
Net income attributable to Verizon	19,265	15,528	30,101
Net Income	$ 19,788	$ 16,039	$ 30,550
Basic Earnings Per Common Share
Net income attributable to Verizon (in USD per share)	$ 4.66	$ 3.76	$ 7.37
Weighted-average shares outstanding (in shares)	4,138	4,128	4,084
Diluted Earnings Per Common Share
Net income attributable to Verizon (in USD per share)	$ 4.65	$ 3.76	$ 7.36
Weighted-average shares outstanding (in shares)	4,140	4,132	4,089
Service and other
Operating Revenues
Operating Revenues	$ 110,305	$ 108,605	$ 107,145
Service
Operating Expenses
Cost of services and equipment	31,772	32,185	30,916
Wireless equipment
Operating Revenues
Operating Revenues	21,563	22,258	18,889
Operating Expenses
Cost of services and equipment	$ 22,954	$ 23,323	$ 22,147

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net gain/(loss) on sale of divested businesses	$ (94)	$ 0	$ 1,774

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net Income	$ 19,788	$ 16,039	$ 30,550
Other Comprehensive Loss, Net of Tax (Expense) Benefit
Foreign currency translation adjustments, net of tax of $(21), $(11) and $30	16	(117)	245
Unrealized gain (loss) on cash flow hedges, net of tax of $265, $(19) and $20	(736)	55	(31)
Unrealized gain (loss) on marketable securities, net of tax of $(2), $0 and $10	7	1	(14)
Defined benefit pension and postretirement plans, net of tax of $219, $284 and $144	(659)	(858)	(214)
Other comprehensive loss attributable to Verizon	(1,372)	(919)	(14)
Total Comprehensive Income	18,416	15,120	30,536
Comprehensive income attributable to noncontrolling interests	523	511	449
Comprehensive income attributable to Verizon	17,893	14,609	30,087
Total comprehensive income	$ 18,416	$ 15,120	$ 30,536

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ (21)	$ (11)	$ 30
Unrealized gain (loss) on cash flow hedges, tax	265	(19)	20
Unrealized gain (loss) on marketable securities, tax	(2)	0	10
Defined benefit pension and postretirement plans, tax	$ 219	$ 284	$ 144

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 2,594	$ 2,745
Accounts receivable, net of allowances of $733 and $765	25,429	25,102
Inventories	1,422	1,336
Prepaid expenses and other	8,028	5,453
Total current assets	37,473	34,636
Property, plant and equipment	265,734	252,835
Less accumulated depreciation	173,819	163,549
Property, plant and equipment, net	91,915	89,286
Investments in unconsolidated businesses	558	671
Wireless licenses	95,059	94,130
Goodwill	24,389	24,614
Other intangible assets, net	9,498	9,775
Operating lease right-of-use assets	22,694
Other assets	10,141	11,717
Total assets	291,727	264,829
Current liabilities
Debt maturing within one year	10,777	7,190
Accounts payable and accrued liabilities	21,806	22,501
Current operating lease liabilities	3,261
Other current liabilities	9,024	8,239
Total current liabilities	44,868	37,930
Long-term debt	100,712	105,873
Employee benefit obligations	17,952	18,599
Deferred income taxes	34,703	33,795
Non-current operating lease liabilities	18,393
Other liabilities	12,264	13,922
Total long-term liabilities	184,024	172,189
Commitments and Contingencies (Note 16)
Equity
Series preferred stock ($0.10 par value; 250,000,000 shares authorized; none issued)	0	0
Common stock ($0.10 par value; 6,250,000,000 shares authorized in each period; 4,291,433,646 issued in each period)	429	429
Additional paid in capital	13,419	13,437
Retained earnings	53,147	43,542
Accumulated other comprehensive income	998	2,370
Common stock in treasury, at cost (155,605,527 and 159,400,267 shares outstanding)	(6,820)	(6,986)
Deferred compensation – employee stock ownership plans and other	222	353
Noncontrolling interests	1,440	1,565
Total equity	62,835	54,710
Total liabilities and equity	$ 291,727	$ 264,829

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 733	$ 765
Series preferred stock, par value (in USD per share)	$ 0.1	$ 0.1
Series preferred stock, shares authorized (in shares)	250,000,000	250,000,000
Series preferred stock, shares issued (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.1	$ 0.1
Common stock, shares authorized (in shares)	6,250,000,000	6,250,000,000
Common stock, shares issued (in shares)	4,291,433,646	4,291,433,646
Treasury stock, shares outstanding (in shares)	155,605,527	159,400,267

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities
Net Income	$ 19,788	$ 16,039	$ 30,550
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	16,682	17,403	16,954
Employee retirement benefits	(284)	(2,657)	440
Deferred income taxes	1,232	389	(14,463)
Provision for uncollectible accounts	1,588	980	1,167
Equity in losses of unconsolidated businesses, net of dividends received	74	231	117
Net loss (gain) on sale of divested businesses	94	0	(1,774)
Media goodwill impairment	186	4,591	0
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses:
Accounts receivable	(1,471)	(2,667)	(5,674)
Inventories	(76)	(324)	168
Prepaid expenses and other	(2,807)	37	27
Accounts payable and accrued liabilities and Other current liabilities	(2,359)	1,777	(459)
Discretionary employee benefits contributions	(300)	(1,679)	(3,411)
Other, net	3,399	219	676
Net cash provided by operating activities	35,746	34,339	24,318
Cash Flows from Investing Activities
Capital expenditures (including capitalized software)	(17,939)	(16,658)	(17,247)
Acquisitions of businesses, net of cash acquired	(29)	(230)	(5,880)
Acquisitions of wireless licenses	(898)	(1,429)	(583)
Proceeds from dispositions of businesses	28	0	3,614
Other, net	1,257	383	1,640
Net cash used in investing activities	(17,581)	(17,934)	(18,456)
Cash Flows from Financing Activities
Proceeds from long-term borrowings	10,079	5,967	27,707
Proceeds from asset-backed long-term borrowings	8,576	4,810	4,290
Repayments of long-term borrowings and finance lease obligations	(17,584)	(10,923)	(23,837)
Repayments of asset-backed long-term borrowings	(6,302)	(3,635)	(400)
Dividends paid	(10,016)	(9,772)	(9,472)
Other, net	(2,917)	(1,824)	(4,439)
Net cash used in financing activities	(18,164)	(15,377)	(6,151)
Increase (decrease) in cash, cash equivalents and restricted cash	1	1,028	(289)
Cash, cash equivalents and restricted cash, beginning of period	3,916	2,888	3,177
Cash, cash equivalents and restricted cash, end of period	$ 3,917	$ 3,916	$ 2,888

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Additional Paid In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock	Deferred Compensation-ESOPs and Other	Noncontrolling Interests
Balance at beginning of year (in shares) at Dec. 31, 2016		4,242,374				165,690
Balance at beginning of year at Dec. 31, 2016		$ 424	$ 11,182	$ 15,059	$ 2,673	$ (7,263)	$ 449	$ 1,508
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued (in shares)		0
Common shares issued		$ 0
Other			(81)
Net income (loss)	$ 30,550			30,101
Dividends declared ($2.435, $2.385, $2.335 per share)				(9,525)
Foreign currency translation adjustments	245				245
Unrealized gain (loss) on cash flow hedges	(31)				(31)
Unrealized gain (loss) on marketable securities	(14)				(14)
Defined benefit pension and postretirement plans	$ (214)				(214)
Other comprehensive loss					(14)
Employee plans (in shares)						2,787
Employee plans						$ 124
Shareowner plans (in shares)	2,800					5
Shareowner plans						$ 0
Restricted stock equity grant							157
Amortization							(190)
Total comprehensive income	$ 30,536							449
Distributions and other								(366)
Balance at end of year (in shares) at Dec. 31, 2017		4,242,374				162,898
Balance at end of year at Dec. 31, 2017	44,687	$ 424	11,101	35,635	2,659	$ (7,139)	416	1,591
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued (in shares)		49,060
Common shares issued		$ 5
Other			2,336
Net income (loss)	16,039			15,528
Dividends declared ($2.435, $2.385, $2.335 per share)				(9,853)
Foreign currency translation adjustments	(117)				(117)
Unrealized gain (loss) on cash flow hedges	55				55
Unrealized gain (loss) on marketable securities	1				1
Defined benefit pension and postretirement plans	$ (858)				(858)
Other comprehensive loss					(919)
Employee plans (in shares)						3,494
Employee plans						$ 153
Shareowner plans (in shares)	3,500					4
Shareowner plans						$ 0
Restricted stock equity grant							162
Amortization							(225)
Total comprehensive income	$ 15,120							511
Distributions and other								(581)
Balance at end of year (in shares) at Dec. 31, 2018		4,291,434				159,400
Balance at end of year at Dec. 31, 2018	54,710	$ 429	13,437	43,542	2,370	$ (6,986)	353	1,565
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued (in shares)		0
Common shares issued		$ 0
Other			(18)
Net income (loss)	19,788			19,265
Dividends declared ($2.435, $2.385, $2.335 per share)				(10,070)
Foreign currency translation adjustments	16				16
Unrealized gain (loss) on cash flow hedges	(736)				(736)
Unrealized gain (loss) on marketable securities	7				7
Defined benefit pension and postretirement plans	$ (659)				(659)
Other comprehensive loss					(1,372)
Employee plans (in shares)						3,790
Employee plans						$ 166
Shareowner plans (in shares)	3,800					4
Shareowner plans						$ 0
Restricted stock equity grant							140
Amortization							(271)
Total comprehensive income	$ 18,416							523
Distributions and other								(649)
Balance at end of year (in shares) at Dec. 31, 2019		4,291,434				155,606
Balance at end of year at Dec. 31, 2019	$ 62,835	$ 429	$ 13,419	$ 53,147	$ 998	$ (6,820)	$ 222	$ 1,440

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared (in USD per share)	$ 2.435	$ 2.385	$ 2.335

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1. Description of Business and Summary of Significant Accounting Policies Description of Business Verizon Communications Inc. (Verizon or the Company) is a holding company that, acting through its subsidiaries, is one of the world’s leading providers of communications, information and entertainment products and services to consumers, businesses and government entities. With a presence around the world, we offer voice, data and video services and solutions on our networks that are designed to meet customers’ demand for mobility, reliable network connectivity, security and control. In November 2018, we announced a strategic reorganization of our business. Under the new structure, effective April 1, 2019, there are two reportable segments that we operate and manage as strategic business units - Verizon Consumer Group ( Consumer ) and Verizon Business Group ( Business ) . Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the United States (U.S.) under the Verizon brand and through wholesale and other arrangements. Our wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over our 100% fiber-optic network under the Fios brand and over a traditional copper-based network to customers who are not served by Fios. Our Consumer segment's wireless and wireline products and services are available to our retail customers, as well as resellers that purchase wireless network access from us on a wholesale basis. Our Business segment provides wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various Internet of Things (IoT) services and products. We provide these products and services to businesses, government customers and wireless and wireline carriers across the U.S. and select products and services to customers around the world. Consolidation The method of accounting applied to investments, whether consolidated or equity, involves an evaluation of all significant terms of the investments that explicitly grant or suggest evidence of control or influence over the operations of the investee. The consolidated financial statements include our controlled subsidiaries, as well as variable interest entities (VIE) where we are deemed to be the primary beneficiary. For controlled subsidiaries that are not wholly-owned, the noncontrolling interests are included in Net income and Total equity. Investments in businesses that we do not control, but have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method. Equity method investments are included in Investments in unconsolidated businesses in our consolidated balance sheets. All significant intercompany accounts and transactions have been eliminated. Use of Estimates We prepare our financial statements using U.S. generally accepted accounting principles (GAAP), which requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Examples of significant estimates include the allowance for doubtful accounts, the recoverability of property, plant and equipment, the incremental borrowing rate for the lease liability, the recoverability of intangible assets and other long-lived assets, fair value measurements, including those related to financial instruments, goodwill, spectrum licenses and intangible assets, unrecognized tax benefits, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations. Revenue Recognition We earn revenue from contracts with customers, primarily through the provision of telecommunications and other services and through the sale of wireless equipment. These services include a variety of communication and connectivity services for our Consumer and Business customers including other carriers that use our facilities to provide services to their customers, as well as professional and integrated managed services for our large enterprises and government customers. We account for these revenues under Accounting Standards Update (ASU) 2014-09, "Revenue from Contracts with Customers" (Topic 606) , which we adopted on January 1, 2018 , using the modified retrospective approach. This standard update, along with related subsequently issued updates, clarifies the principles for recognizing revenue and develops a common revenue standard for 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 are deferred and amortized consistent with the transfer of the related good or service. We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. Nature of Products and Services Telecommunications Service We offer wireless services through a variety of plans on a postpaid or prepaid basis. For wireless service, we recognize revenue using an output method, either as the service allowance units are used or as time elapses, because it reflects the pattern by which we satisfy our performance obligation through the transfer of service to the customer. Monthly service is generally billed in advance, which results in a contract liability. See Note 2 for additional information. For postpaid plans, where monthly usage exceeds the allowance, the overage usage represents options held by the customer for incremental services and the usage-based fee is recognized when the customer exercises the option (typically on a month-to-month basis). For our contracts related to wireline communication and connectivity services, in general, fixed monthly fees for service are billed one month in advance, which results in a contract liability, and service revenue is recognized over the enforceable contract term as the service is rendered, as the customer simultaneously receives and consumes the benefits of the services through network access and usage. While substantially all of our wireline service revenue contracts are the result of providing access to our networks, revenue from services that are not fixed in amount and, instead, are based on usage are generally billed in arrears and recognized as the usage occurs. Equipment We sell wireless devices and accessories under the Verizon brand. Equipment revenue is generally recognized when the products are delivered to and accepted by the customer, as this is when control passes to the customer. In addition to offering the sale of equipment on a standalone basis, we have two primary offerings through which customers pay for a wireless device, in connection with a service contract: fixed-term plans and device payment plans. Under a fixed-term plan, the customer is sold the wireless device without any upfront charge or at a discounted price in exchange for entering into a fixed-term service contract (typically for a term of 24 months or less). Under a device payment plan, the customer is sold the wireless device in exchange for a non-interest-bearing installment note, which is repaid by the customer, typically over a 24 -month term, and concurrently enters into a month-to-month contract for wireless service. We may offer certain promotions that provide billing credits applied over a specified term, contingent upon the customer maintaining service. The credits are included in the transaction price, which are allocated to the performance obligations based on their relative selling price and are recognized when earned. A financing component exists in both our fixed-term plans and device payment plans because the timing of the payment for the device, which occurs over the contract term, differs from the satisfaction of the performance obligation, which occurs at contract inception upon transfer of the device to the customer. We periodically assess, at the contract level, the significance of the financing component inherent in our fixed-term and device payment plan receivable based on qualitative and quantitative considerations related to our customer classes. These considerations include assessing the commercial objective of our plans, the term and duration of financing provided, interest rates prevailing in the marketplace, and credit risks of our customer classes, all of which impact our selection of appropriate discount rates. Based on current facts and circumstances, we determined that the financing component in our existing wireless device payments and fixed-term contracts sold through the direct channel is not significant and therefore is not accounted for separately. See Note 8 for additional information on the interest on equipment financed on a device payment plan agreement when sold to the customer by an authorized agent in our indirect channel. Wireless Contracts For our wireless contracts, total contract revenue, which represents the transaction price for wireless service and wireless equipment, is allocated between service and equipment revenue based on their estimated standalone selling prices. We estimate the standalone selling price of the device or accessory to be its retail price excluding subsidies or conditional purchase discounts. We estimate the standalone selling price of wireless service to be the price that we offer to customers on month-to-month contracts that can be cancelled at any time without penalty (i.e., when there is no fixed-term for service) or when service is procured without the concurrent purchase of a wireless device. In addition, we also assess whether the service term is impacted by certain legally enforceable rights and obligations in our contract with customers, such as penalties that a customer would have to pay to early terminate a fixed-term contract or billing credits that would cease if the month-to-month wireless service is canceled. The assessment of these legally enforceable rights and obligations involves judgment and impacts our determination of the transaction price and related disclosures. From time to time, we may offer certain promotions that provide our customers on device payment plans with the right to upgrade to a new device after paying a specified portion of their device payment plan agreement amount and trading in their device in good working order. We account for this trade-in right as a guarantee obligation. The full amount of the trade-in right's fair value is recognized as a guarantee liability and results in a reduction to the revenue recognized upon the sale of the device. The guarantee liability was insignificant at December 31, 2019 and 2018 . The total transaction price is reduced by the guarantee, which is accounted for outside the scope of Topic 606, and the remaining transaction price is allocated between the performance obligations within the contract. Our fixed-term plans generally include the sale of a wireless device at subsidized prices. This results in the creation of a contract asset at the time of sale, which represents the recognition of equipment revenue in excess of amounts billed. For our device payment plans, billing credits are accounted for as consideration payable to a customer and are included in the determination of total transaction price, resulting in a contract liability. We may provide a right of return on our products and services for a short time period after a sale. These rights are accounted for as variable consideration when determining the transaction price, and accordingly we recognize revenue based on the estimated amount to which we expect to be entitled after considering expected returns. Returns and credits are estimated at contract inception and updated at the end of each reporting period as additional information becomes available. We also may provide credits or incentives on our products and services for contracts with resellers, which are accounted for as variable consideration when estimating the amount of revenue to recognize. Wireline Contracts Total consideration for wireline services that are bundled in a single contract is allocated to each performance obligation based on our standalone selling price for each service. While many contracts include one or more service performance obligations, the revenue recognition pattern is generally not impacted by the allocation since the services are generally satisfied over the same period of time. We estimate the standalone selling price to be the price of the services when sold on a standalone basis without any promotional discount. In addition, we also assess whether the service term is impacted by certain legally enforceable rights and obligations in our contract with customers such as penalties that a customer would have to pay to early terminate a fixed-term contract. The assessment of these legally enforceable rights and obligations involves judgment and impacts our determination of transaction price and related disclosures. We may provide performance-based credits or incentives on our products and services for contracts with our Business customers, which are accounted for as variable consideration when estimating the transaction price. Credits are estimated at contract inception and are updated at the end of each reporting period as additional information becomes available. Wireless and Wireline Contracts For offers that include third-party providers, we evaluate whether we are acting as the principal or as the agent with respect to the goods or services provided to the customer. This principal-versus-agent assessment involves judgment and focuses on whether the facts and circumstances of the arrangement indicate that the goods or services were controlled by us prior to transferring them to the customer. To evaluate if we have control, we consider various factors including whether we are primarily responsible for fulfillment, bear risk of loss and have discretion over pricing. Other Advertising revenues are generated through display advertising and search advertising. Display advertising revenue is generated by the display of graphical advertisements and other performance-based advertising. Search advertising revenue is generated when a consumer clicks on a text-based advertisement on the search results page. Our Media business, Verizon Media, primarily earns revenue through display advertising on Verizon Media properties, as well as on third-party properties through our advertising platforms, search advertising and subscription arrangements. Revenue for display and search advertising contracts is recognized as ads are delivered, while subscription contracts are recognized over time. We are generally the principal in transactions carried out through our advertising platforms, and therefore report gross revenue based on the amount billed to our customers. The control and transfer of digital advertising inventory occurs in a rapid, real-time environment, where our proprietary technology enables us to identify, enhance, verify and solely control digital advertising inventory that we then sell to our customers. Our control is further supported by us being primarily responsible to our customers for fulfillment and the fact that we can exercise a level of discretion over pricing. We offer telematics services including smart fleet management and optimization software. Telematics service revenue is generated primarily through subscription contracts. We recognize revenue over time for our subscription contracts. We report taxes collected from customers on behalf of governmental authorities on revenue-producing transactions on a net basis. Maintenance and Repairs We charge the cost of maintenance and repairs, including the cost of replacing minor items not constituting substantial betterments, principally to Cost of services as these costs are incurred. Advertising Costs Costs for advertising products and services, as well as other promotional and sponsorship costs, are charged to Selling, general and administrative expense in the periods in which they are incurred. See Note 15 for additional information. Earnings Per Common Share Basic earnings per common share are based on the weighted-average number of shares outstanding during the period. Where appropriate, diluted earnings per common share include the dilutive effect of shares issuable under our stock-based compensation plans. There were a total of approximately 2 million , 4 million and 5 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the years ended December 31, 2019 , 2018 and 2017 , respectively. Cash, Cash Equivalents and Restricted Cash We consider all highly liquid investments with an original maturity of 90 days or less when purchased to be cash equivalents. Cash equivalents are stated at cost, which approximates quoted market value and includes amounts held in money market funds. Cash collections on the device payment plan agreement receivables collateralizing asset-backed debt securities 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 in our consolidated balance sheets. Cash, cash equivalents and restricted cash are included in the following line items in the consolidated balance sheets: (dollars in millions) At December 31, 2019 2018 Increase / (Decrease) Cash and cash equivalents $ 2,594 $ 2,745 $ (151 ) Restricted cash: Prepaid expenses and other 1,221 1,047 174 Other assets 102 124 (22 ) Cash, cash equivalents and restricted cash $ 3,917 $ 3,916 $ 1 Investments in Debt and Equity Securities Investments in equity securities that are not accounted for under equity method accounting or result in consolidation are to be measured at fair value. For investments in equity securities without readily determinable fair values, Verizon elects the measurement alternative permitted under GAAP to measure these investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. For investments in debt securities without quoted prices, Verizon uses an alternative matrix pricing method. Investments in equity securities that do not result in consolidation of the investee are included in Investments in unconsolidated businesses and debt securities are included in Other assets in our consolidated balance sheets. Allowance for Doubtful Accounts Accounts receivable are recorded in the consolidated financial statements at cost net of an allowance for credit losses, with the exception of indirect-channel device payment plan loans. We maintain allowances for uncollectible accounts receivable, including our direct-channel device payment plan agreement receivables, for estimated losses resulting from the failure or inability of our customers to make required payments. Indirect-channel device payment loans are considered financial instruments and are initially recorded at fair value net of imputed interest, and credit losses are recorded as incurred. However, loan balances are assessed quarterly for impairment and an allowance is recorded if the loan is considered impaired. Our allowance for uncollectible accounts receivable is based on management’s assessment of the collectability of specific customer accounts and includes consideration of the credit worthiness and financial condition of those customers. We record an allowance to reduce the receivables to the amount that is reasonably believed to be collectible. We also record an allowance for all other receivables based on multiple factors including historical experience with bad debts, the general economic environment and the aging of such receivables. Similar to traditional service revenue, we record direct device payment plan agreement bad debt expense based on an estimate of the percentage of equipment revenue that will not be collected. This estimate is based on a number of factors including historical write-off experience, credit quality of the customer base and other factors such as macroeconomic conditions. We monitor the aging of our accounts with device payment plan agreement receivables and write-off account balances if collection efforts are unsuccessful and future collection is unlikely. Inventories Inventory consists of wireless and wireline equipment held for sale, which is carried at the lower of cost (determined principally on either an average cost or first-in, first-out basis) or net realizable value. Plant and Depreciation We record property, plant and equipment at cost. Property, plant and equipment are generally depreciated on a straight-line basis. Leasehold improvements are amortized over the shorter of the estimated life of the improvement or the remaining term of the related lease, calculated from the time the asset was placed in service. When depreciable assets are retired or otherwise disposed of, the related cost and accumulated depreciation are deducted from the property, plant and equipment accounts and any gains or losses on disposition are recognized in income. We capitalize and depreciate network software purchased or developed within property, plant and equipment assets. We also capitalize interest associated with the acquisition or construction of network-related assets. Capitalized interest is reported as a reduction in interest expense and depreciated as part of the cost of the network-related assets. In connection with our ongoing review of the estimated useful lives of property, plant and equipment during 2018 , we determined that the average useful lives of certain assets would be increased. These changes in estimates were applied prospectively in 2018 and resulted in a decrease to depreciation expense of $271 million for the year ended December 31, 2018 . While the timing and extent of current deployment plans are subject to ongoing analysis and modification, we believe that the current estimates of useful lives are reasonable. Computer Software Costs We capitalize the cost of internal-use network and non-network software that has a useful life in excess of one year. Subsequent additions, modifications or upgrades to internal-use network and non-network software are capitalized only to the extent that they allow the software to perform a task it previously did not perform. Planning, software maintenance and training costs are expensed in the period in which they are incurred. Also, we capitalize interest associated with the development of internal-use network and non-network software. Capitalized non-network internal-use software costs are amortized using the straight-line method over a period of 3 to 7 years and are included in Other intangible assets, net in our consolidated balance sheets. For a discussion of our impairment policy for capitalized software costs, see "Goodwill and Other Intangible Assets" below. Also, see Note 4 for additional information of internal-use non-network software reflected in our consolidated balance sheets. Goodwill and Other Intangible Assets Goodwill Goodwill is the excess of the acquisition cost of businesses over the fair value of the identifiable net assets acquired. Impairment testing for goodwill is performed annually in the fourth quarter or more frequently if impairment indicators are present. To determine if goodwill is potentially impaired, we have the option to perform a qualitative assessment. However, we may elect to bypass the qualitative assessment and perform a quantitative impairment test even if no indications of a potential impairment exist. The quantitative impairment test for goodwill is performed at the reporting unit level and compares the fair value of the reporting unit (calculated using a combination of a market approach and a discounted cash flow method) to its carrying value. Estimated fair values of reporting units are Level 3 measures in the fair value hierarchy, see Fair Value Measurements discussion below for additional information. Under the qualitative assessment, we consider several qualitative factors, including the business enterprise value of the reporting unit from the last quantitative test and the excess of fair value over carrying value from this test, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations (including industry revenue and Earnings before interest, taxes, depreciation and amortization ( EBITDA ) margin projections), the recent and projected financial performance of the reporting unit, as well as other factors. The market approach includes the use of comparative multiples of guideline companies to corroborate discounted cash flow results. The discounted cash flow method is based on the present value of two components, a projected cash flows and a terminal value. The terminal value represents the expected normalized future cash flows of the reporting unit beyond the cash flows from the discrete projection period. The fair value of the reporting unit is calculated based on the sum of the present value of the cash flows from the discrete period and the present value of the terminal value. The discount rate represents our estimate of the weighted-average cost of capital, or expected return, that a marketplace participant would have required as of the valuation date. If the carrying value exceeds the fair value, an impairment charge is booked for the excess carrying value over fair value, limited to the total amount of goodwill of that reporting unit. During the fourth quarter each year, we update our five-year strategic planning review for each of our reporting units. Those plans consider current economic conditions and trends, estimated future operating results, our view of growth-rates and-anticipated future economic and regulatory conditions. See Note 4 for additional information regarding our goodwill impairment testing. Intangible Assets Not Subject to Amortization A significant portion of our intangible assets are wireless licenses that provide our wireless operations with the exclusive right to utilize designated radio frequency spectrum to provide wireless communication services. While licenses are issued for only a fixed time, generally ten years, such licenses are subject to renewal by the Federal Communications Commission (FCC). License renewals have occurred routinely and at nominal cost. Moreover, we have determined that there are currently no legal, regulatory, contractual, competitive, economic or other factors that limit the useful life of our wireless licenses. As a result, we treat the wireless licenses as an indefinite-lived intangible asset. We re-evaluate the useful life determination for wireless licenses each year to determine whether events and circumstances continue to support an indefinite useful life. We aggregate our wireless licenses into one single unit of accounting, as we utilize our wireless licenses on an integrated basis as part of our nationwide wireless network. We test our wireless licenses for potential impairment annually or more frequently if impairment indicators are present. We have the option to first perform a qualitative assessment to determine whether it is necessary to perform a quantitative impairment test. However, we may elect to bypass the qualitative assessment in any period and proceed directly to performing the quantitative impairment test. Our quantitative assessment consists of comparing the estimated fair value of our aggregate wireless licenses to the aggregated carrying amount as of the test date. Using a quantitative assessment, we estimate the fair value of our aggregate wireless licenses using the Greenfield approach. The Greenfield approach is an income based valuation approach that values the wireless licenses by calculating the cash flow generating potential of a hypothetical start-up company that goes into business with no assets except the wireless licenses to be valued. A discounted cash flow analysis is used to estimate what a marketplace participant would be willing to pay to purchase the aggregated wireless licenses as of the valuation date. If the estimated fair value of the aggregated wireless licenses is less than the aggregated carrying amount of the wireless licenses, then an impairment charge is recognized. As part of our qualitative assessment, we consider several qualitative factors including the business enterprise value of our historical Wireless segment, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations (including industry revenue and EBITDA margin projections), the recent and projected financial performance of our historical Wireless segment, as well as other factors. See Note 4 for additional information regarding our impairment tests. Interest expense incurred while qualifying activities are performed to ready wireless licenses for their intended use is capitalized as part of wireless licenses. The capitalization period ends when the development is discontinued or substantially completed and the license is ready for its intended use. Wireless licenses can be purchased through public auctions conducted by the FCC. Deposits required to participate in these auctions and purchase licenses are recorded as other non-current assets until the corresponding licenses are received and within Net cash used in investing activities in our consolidated statements of cash flows. Intangible Assets Subject to Amortization and Long-Lived Assets Our intangible assets that do not have indefinite lives (primarily customer lists and non-network internal-use software) are amortized over their estimated useful lives. All of our intangible assets subject to amortization and other long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If any indications of impairment are present, we would test for recoverability by comparing the carrying amount of the asset group to the net undiscounted cash flows expected to be generated from the asset group. If those net undiscounted cash flows do not exceed the carrying amount, we would perform the next step, which is to determine the fair value of the asset and record an impairment, if any. We re-evaluate the useful life determinations for these intangible assets each year to determine whether events and circumstances warrant a revision to their remaining useful lives. For information related to the carrying amount of goodwill, wireless licenses and other intangible assets, as well as the major components and average useful lives of our other acquired intangible assets, see Note 4 . Fair Value Measurements Fair value of financial and non-financial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The three-tier hierarchy for inputs used in measuring fair value, which prioritizes the inputs used in the methodologies of measuring fair value for assets and liabilities, is as follows: Level 1—Quoted prices in active markets for identical assets or liabilities Level 2—Observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3—Unobservable pricing inputs in the market Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. Our assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their categorization within the fair value hierarchy. Income Taxes Our effective tax rate is based on pre-tax income, statutory tax rates, tax laws and regulations and tax plann

Revenues and Contract Costs

Revenues and Contract Costs	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenues and Contract Costs	Note 2. Revenue and Contract Costs We earn revenue from contracts with customers, primarily through the provision of telecommunications and other services and through the sale of wireless equipment. These services include a variety of communication and connectivity services for our Consumer and Business customers including other carriers that use our facilities to provide services to their customers, as well as professional and integrated managed services for our large enterprises and government customers. We account for these revenues under Topic 606, which we adopted on January 1, 2018 , using the modified retrospective approach. We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. We applied the new revenue recognition standard to customer contracts not completed at the date of initial adoption. For incomplete contracts that were modified before the date of adoption, the Company elected to use the practical expedient available under the modified retrospective method, which allows us to aggregate the effect of all modifications when identifying satisfied and unsatisfied performance obligations, determining the transaction price and allocating transaction price to the satisfied and unsatisfied performance obligations for the modified contract at transition. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while amounts reported for prior periods have not been adjusted and continue to be reported under accounting standards in effect for those periods. Prior to the adoption of Topic 606, we were required to limit the revenue recognized when a wireless device was sold to the amount of consideration that was not contingent on the provision of future services, which was typically limited to the amount of consideration received from the customer at the time of sale. Under Topic 606, the total consideration in the contract is allocated between wireless equipment and service based on their relative standalone selling prices. This change primarily impacts our arrangements that include sales of wireless devices at subsidized prices in conjunction with a fixed-term plan, also known as the subsidy model, for service. Accordingly, under Topic 606, generally more equipment revenue is recognized upon sale of the equipment to the customer and less service revenue is recognized over the contract term than was previously recognized under the prior "Revenue Recognition" (Topic 605) standard. At the time the equipment is sold, this allocation results in the recognition of a contract asset equal to the difference between the amount of revenue recognized and the amount of consideration received from the customer. As of January 2017, we no longer offer Consumer customers new fixed-term plans with subsidized equipment pricing; however, we continue to offer fixed-term plans to our Business customers. At December 31, 2019 and December 31, 2018 , approximately 12% and 14% of retail postpaid connections were under fixed-term plans, respectively. Topic 606 also requires the deferral of incremental costs incurred to obtain a customer contract, which are then amortized to expense, as a component of Selling, general and administrative expense, over the respective periods of expected benefit. As a result, a significant amount of our sales commission costs, which were historically expensed as incurred under our previous accounting, relating to our contracts to provide wireless and wireline services, are now deferred and amortized under Topic 606. Finally, under Topic 605, at the time of the sale of a device, we imputed risk adjusted interest on the device payment plan agreement receivables. We recorded the imputed interest as a reduction to the related accounts receivable and interest income was recognized over the financed device payment term. Under Topic 606, while there continues to be a financing component in both the fixed-term plans and device payment plans, also known as the installment model, we have determined that this financing component for our customer classes in the direct channels for wireless devices are not significant and therefore we no longer impute interest for these contracts. This change results in additional revenue recognized upon the sale of wireless devices and no interest income recognized over the device payment term. A reconciliation of the adjustments from the adoption of Topic 606 relative to Topic 605 on certain impacted financial statement line items in our consolidated statements of income is as follows: Year Ended December 31, 2018 (dollars in millions) As reported Balances without adoption of Topic 606 Adjustments Operating Revenues Service revenues and other $ 108,605 $ 109,964 $ (1,359 ) Wireless equipment revenues 22,258 20,474 1,784 Total Operating Revenues 130,863 130,438 425 Cost of services (exclusive of items shown below) 32,185 32,240 (55 ) Cost of wireless equipment 23,323 23,189 134 Selling, general and administrative expense 31,083 32,588 (1,505 ) Equity in losses of unconsolidated businesses (186 ) (187 ) 1 Income Before Provision For Income Taxes 19,623 17,771 1,852 Provision for income taxes (3,584 ) (3,104 ) (480 ) Net Income $ 16,039 $ 14,667 $ 1,372 Net income attributable to noncontrolling interests $ 511 $ 481 $ 30 Net income attributable to Verizon 15,528 14,186 1,342 Net Income $ 16,039 $ 14,667 $ 1,372 Revenue by Category We have two reportable segments that we operate and manage as strategic business units , Consumer and Business. Revenue is disaggregated by products and services within Consumer, and customer groups (Global Enterprise, Small and Medium Business, Public Sector and Other, and Wholesale) within Business. See Note 13 for additional information on revenue by segment. Corporate and other includes the results of our media business, Verizon Media, and other businesses. Verizon Media generated revenues from contracts with customers under Topic 606 of approximately $7.5 billion and $7.7 billion for the years ended December 31, 2019 and 2018 , respectively. We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. As allowed by the practical expedient within Topic 842, we have elected to combine the lease and non-lease components for those arrangements of customer premise equipment where we are the lessor as components accounted for under Topic 606. Revenues from arrangements that were not accounted for under Topic 606 were approximately $3.1 billion and $4.5 billion for the years ended December 31, 2019 and 2018 , respectively. Remaining Performance Obligations When allocating the total contract transaction price to identified performance obligations, a portion of the total transaction price may relate to service performance obligations which were not satisfied or are partially satisfied as of the end of the reporting period. Below we disclose information relating to these unsatisfied performance obligations. Upon adoption, we elected to apply the practical expedient available under Topic 606 that provides the option to exclude the expected revenues arising from unsatisfied performance obligations related to contracts that have an original expected duration of one year or less. This situation primarily arises with respect to certain month-to-month service contracts. At December 31, 2019 , month-to-month service contracts represented approximately 88% of our wireless postpaid contracts and 61% of our wireline Consumer and Small and Medium Business contracts, compared to December 31, 2018 , for which month-to-month service contracts represented approximately 86% of our wireless postpaid contracts and 56% of our wireline Consumer and Small and Medium Business contracts . Additionally, certain contracts provide customers the option to purchase additional services. The fees related to these additional services are recognized when the customer exercises the option (typically on a month-to-month basis). Contracts for wireless services are generally either month-to-month and cancellable at any time (typically under a device payment plan) or contain terms ranging from greater than one month to up to two years (typically under a fixed-term plan). Additionally, customers may incur charges based on usage or additional optional services purchased in conjunction with entering into a contract that can be cancelled at any time and therefore are not included in the transaction price. The transaction price allocated to service performance obligations, which are not satisfied or are partially satisfied as of the end of the reporting period, are generally related to our fixed-term plans. Our Consumer group customers also include traditional wholesale resellers that purchase and resell wireless service under their own brands to their respective customers. Reseller arrangements generally include a stated contract term, which typically extends longer than two years and, in some cases, include a periodic minimum revenue commitment over the contract term for which revenues will be recognized in future periods. Consumer customer contracts for wireline services generally have a service term of two years ; however, this term may be shorter than twelve months or may be month-to-month. Certain contracts with Business customers for wireline services extend into future periods, contain fixed monthly fees and usage-based fees, and can include annual commitments in each year of the contract or commitments over the entire specified contract term; however, a significant number of contracts for wireline services with our Business customers have a contract term that is twelve months or less. Additionally, there are certain contracts with Business customers for wireline and telematics services and certain Media contracts with customers that have a contractual minimum fee over the total contract term. We cannot predict the time period when revenue will be recognized related to those contracts; thus, they are excluded from the time bands below. These contracts have varying terms spanning over approximately five years ending in November 2024 and have aggregate contract minimum payments totaling $3.4 billion . At December 31, 2019 , the transaction price related to unsatisfied performance obligations for total Verizon that is expected to be recognized for 2020 , 2021 and thereafter was $20.2 billion , $9.4 billion and $1.6 billion , respectively. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations and changes in the timing and scope of contracts, arising from contract modifications. Accounts Receivable and Contract Balances The timing of revenue recognition may differ from the time of billing to our customers. Receivables presented in our consolidated balance sheet represent an unconditional right to consideration. Contract balances represent amounts from an arrangement when either Verizon has performed, by transferring goods or services to the customer in advance of receiving all or partial consideration for such goods and services from the customer, or the customer has made payment to Verizon in advance of obtaining control of the goods and/or services promised to the customer in the contract. The following table presents information about receivables from contracts with customers: At December 31, At December 31, At January 1, (dollars in millions) 2019 2018 2018 Receivables (1) $ 12,078 $ 12,104 $ 12,073 Device payment plan agreement receivables (2) 11,741 8,940 1,461 (1) Balances do not include receivables related to the following contracts: leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. (2) Included in device payment plan agreement receivables presented in Note 8 . Balances do not include receivables related to contracts completed prior to January 1, 2018 and receivables derived from the sale of equipment on a device payment plan through an authorized agent. The following table presents information about contract balances: At December 31, At December 31, At January 1, (dollars in millions) 2019 2018 2018 Contract asset $ 1,150 $ 1,003 $ 1,170 Contract liability 5,307 4,943 4,452 Contract assets primarily relate to our rights to consideration for goods or services provided to customers but for which we do not have an unconditional right at the reporting date. Under a fixed-term plan, total contract revenue is allocated between wireless service and equipment revenues, as discussed above. In conjunction with these arrangements, a contract asset is created, which represents the difference between the amount of equipment revenue recognized upon sale and the amount of consideration received from the customer when the performance obligation related to the transfer of control of the equipment is satisfied. The contract asset is reclassified to accounts receivable as wireless services are provided and billed. We have the right to bill the customer as service is provided over time, which results in our right to the payment being unconditional. The contract asset balances are presented in our consolidated balance sheet as Prepaid expenses and other and Other assets. We assess our contract assets for impairment on a quarterly basis and will recognize an impairment charge to the extent their carrying amount is not recoverable. Contract assets increased $147 million during the year ended December 31, 2019 . The change in the contract asset balance was primarily due to new contracts and increases in sales promotions recognized upfront, driven by customer activity related to wireless and Fios services, partially offset by reclassifications to accounts receivable due to billings on existing contracts and impairment charges of $113 million . Contract assets decreased $167 million during the year ended December 31, 2018 . The change in the contract asset balance was primarily due to reclassifications to accounts receivable due to billings on existing contracts and impairment charges of $116 million , offset by new contracts related to wireless and Fios services. Contract liabilities arise when we bill our customers and receive consideration in advance of providing the goods or services promised in the contract. We typically bill service one month in advance, which is the primary component of the contract liability balance. Contract liabilities are recognized as revenue when services are provided to the customer. The contract liability balances are presented in our consolidated balance sheet as Other current liabilities and Other liabilities. Contract liabilities increased $364 million during the year ended December 31, 2019 . The change in contract liabilities was primarily due to increases in sales promotions recognized over time and upfront fees, as well as increases in deferred revenue related to advanced billings, partially offset by the satisfaction of performance obligations related to wireless and Fios services. Contract liabilities increased $491 million during the year ended December 31, 2018 . The change in contract liabilities was primarily due to increases in sales promotions, as well as increases in deferred revenue related to advanced billings, partially offset by the satisfaction of performance obligations related to wireless and Fios services. Revenue recognized during the years ended December 31, 2019 and 2018 related to contract liabilities existing at January 1, 2019 and 2018 were $4.2 billion and $3.9 billion , respectively, as performance obligations related to services were satisfied. The balance of contract assets and contract liabilities recorded in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2019 2018 Assets Prepaid expenses and other $ 848 $ 757 Other assets 302 246 Total $ 1,150 $ 1,003 Liabilities Other current liabilities $ 4,651 $ 4,207 Other liabilities 656 736 Total $ 5,307 $ 4,943 Contract Costs As discussed in Note 1, Topic 606 requires the recognition of an asset for incremental costs to obtain a customer contract, which is then amortized to expense over the respective period of expected benefit. We recognize an asset for incremental commission costs paid to internal and external sales personnel and agents in conjunction with obtaining customer contracts. We only defer these costs when we have determined the commissions are incremental costs that would not have been incurred absent the customer contract and are expected to be recoverable. Costs to obtain a contract are amortized and recorded ratably as commission expense over the period representing the transfer of goods or services to which the assets relate. Costs to obtain wireless contracts are amortized over both of our Consumer and Business customers' estimated device upgrade cycles, as such costs are typically incurred each time a customer upgrades. Costs to obtain wireline contracts are amortized as expense over the estimated customer relationship period for our Consumer customers. Incremental costs to obtain wireline contracts for our Business customers are insignificant. Costs to obtain contracts are recorded in Selling, general and administrative expense. We also defer costs incurred to fulfill contracts that: (1) relate directly to the contract; (2) are expected to generate resources that will be used to satisfy our performance obligation under the contract; and (3) are expected to be recovered through revenue generated under the contract. Contract fulfillment costs are expensed as we satisfy our performance obligations and recorded to Cost of services. These costs principally relate to direct costs that enhance our wireline business resources, such as costs incurred to install circuits. We determine the amortization periods for our costs incurred to obtain or fulfill a customer contract at a portfolio level due to the similarities within these customer contract portfolios. Other costs, such as general costs or costs related to past performance obligations, are expensed as incurred. Collectively, costs to obtain a contract and costs to fulfill a contract are referred to as deferred contract costs, and amortized over a 2 to 5 -year period. Deferred contract costs are classified as current or non-current within Prepaid expenses and other and Other assets, respectively. The balances of deferred contract costs included in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2019 2018 Assets Prepaid expenses and other $ 2,578 $ 2,083 Other assets 1,911 1,812 Total $ 4,489 $ 3,895 For the years ended December 31, 2019 and 2018 , we recognized expense of $2.7 billion and $2.0 billion , respectively, associated with the amortization of deferred contract costs, primarily within Selling, general and administrative expense in our consolidated statements of income. We assess our deferred contract costs for impairment on a quarterly basis. We recognize an impairment charge to the extent the carrying amount of a deferred cost exceeds the remaining amount of consideration we expect to receive in exchange for the goods and services related to the cost, less the expected costs related directly to providing those goods and services that have not yet been recognized as expenses. There have been no impairment charges recognized for the years ended December 31, 2019 and 2018 .

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 3. Acquisitions and Divestitures Spectrum License Transactions Since 2017 , we have entered into or completed several strategic spectrum transactions including: • During the fourth quarter of 2016, we entered into a license exchange agreement with affiliates of AT&T Inc. (AT&T) to exchange certain Advanced Wireless Services (AWS) and Personal Communication Services (PCS) spectrum licenses. This non-cash exchange was completed in February 2017. As a result, we received $1.0 billion of AWS and PCS spectrum licenses at fair value and recorded a pre-tax gain of $126 million in Selling, general and administrative expense in our consolidated statement of income for the year ended December 31, 2017. • During the first quarter of 2017, we entered into a license exchange agreement with affiliates of Sprint Corporation to exchange certain PCS spectrum licenses. This non-cash exchange was completed in May 2017. As a result, we received $132 million of PCS spectrum licenses at fair value and recorded an insignificant gain in Selling, general and administrative expense in our consolidated statement of income for the year ended December 31, 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. This non-cash exchange was completed in December 2017. As a result, we received $414 million of AWS and PCS spectrum licenses at fair value and recorded a pre-tax gain of $143 million in Selling, general and administrative expense in our consolidated statement of income for the year ended December 31, 2017. • During 2018, we entered into and completed various wireless license transactions, including the purchase of Straight Path Communications Inc. (Straight Path) and NextLink Wireless LLC ( NextLink ). • During 2019, the FCC completed two millimeter wave spectrum license auctions. Verizon participated in these auctions and was the high bidder on 9 and 1,066 licenses, respectively, in the 24 Gigahertz (GHz) and 28 GHz bands. We submitted an application to the FCC and paid cash of approximately $521 million for the licenses. We received the licenses during the fourth quarter of 2019. • During 2019, we entered into and completed various other wireless license acquisitions for an insignificant amount of cash consideration. In December 2019, the FCC incentive auction for spectrum licenses in the upper 37 GHz, 39 GHz, and 47 GHz bands commenced. As an incumbent licensee, Verizon received vouchers related to our existing 39 GHz licenses. These vouchers can be converted into cash, the amount of which will not be known until the conclusion of the auction, or applied toward the purchase price of spectrum in the auction. At the conclusion of the auction, all existing licenses will be cancelled and new reconfigured licenses or cash will be distributed depending on the results of the auction. Due to the FCC's rules restricting communications regarding the auction, we will not disclose our financial plans for the auction during the quiet period for this auction unless legally required. In addition, as of this time, until the completion of the auction process, we cannot determine the resulting financial outcome, including a potential gain or loss. Such gain or loss, if any, may be material. Acquisition of AOL Inc. In May 2015, we entered into an Agreement and Plan of Merger with AOL Inc. (AOL) pursuant to which we commenced a tender offer to acquire all of the outstanding shares of common stock of AOL at a price of $50.00 per share, net to the seller in cash, without interest and less any applicable withholding taxes. On June 23, 2015, we completed the tender offer and merger, and AOL became a wholly-owned subsidiary of Verizon. The aggregate cash consideration paid by Verizon at the closing of these transactions was approximately $3.8 billion . Holders of approximately 6.6 million shares exercised appraisal rights under Delaware law. In September 2018, we obtained court approval to settle this matter for total cash consideration of $219 million of which an insignificant amount relates to interest, resulting in an insignificant gain. We paid the cash consideration in October 2018. XO Holdings In February 2016, we entered into a purchase agreement to acquire XO Holdings' wireline business ( XO ), which owned and operated one of the largest fiber-based Internet Protocol and Ethernet networks in the U.S. Concurrently, we entered into a separate agreement to utilize certain wireless spectrum from a wholly-owned subsidiary of XO Holdings, NextLink, that held XO's millimeter-wave wireless spectrum. The agreement included an option, subject to certain conditions, to acquire NextLink. In February 2017, we completed our acquisition of XO for total cash consideration of approximately $1.5 billion , of which $100 million was paid in 2015, and we prepaid $320 million in connection with the NextLink option which represented the fair value of the option. In April 2017, we exercised our option to buy NextLink for approximately $493 million , subject to certain adjustments, of which $320 million was prepaid in the first quarter of 2017. The transaction closed in January 2018. The acquisition of NextLink was accounted for as an asset acquisition, as substantially all of the value related to the acquired spectrum. Upon closing, we recorded approximately $657 million of wireless licenses, $110 million of a deferred tax liability and $58 million of other liabilities. The 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. The consideration was allocated to the assets acquired and liabilities assumed based on their fair values as of the close of the acquisition. We recorded approximately $1.2 billion of property, plant and equipment, $120 million of goodwill and $194 million 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 represents future economic benefits that we expect to achieve as a result of the acquisition. Acquisition of Yahoo! Inc.’s Operating Business In July 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). In February 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 had 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. In June 2017, we completed the Transaction. The aggregate purchase consideration at the closing of the Transaction was approximately $4.7 billion , including cash acquired of $230 million . 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. In October 2017, based upon information 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. The acquisition of Yahoo’s operating business has been accounted for as a business combination. 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 Accounting Standards Codification 820, Fair Value Measurements and Disclosures, 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 property, plant 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. In June 2018, we finalized the accounting for the Yahoo acquisition. The following table summarizes the final accounting for the assets acquired, including cash acquired of $230 million , 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 December 31, 2017 Measurement-period adjustments (1) Adjusted Fair Value Cash payment to Yahoo’s equity holders $ 4,673 $ — $ 4,673 Estimated liabilities to be paid 38 — 38 Total consideration $ 4,711 $ — $ 4,711 Assets acquired: Goodwill $ 1,929 $ 215 $ 2,144 Intangible assets subject to amortization 1,873 1 1,874 Property, plant, and equipment 1,805 (6 ) 1,799 Other 1,332 128 1,460 Total assets acquired 6,939 338 7,277 Liabilities assumed: Total liabilities assumed 2,178 338 2,516 Net assets acquired: 4,761 — 4,761 Noncontrolling interest (50 ) — (50 ) Total consideration $ 4,711 $ — $ 4,711 (1) Adjustments to the fair value measurements to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. The most significant adjustments related to an increase in goodwill and the recognition of liabilities per certain pre-acquisition contingencies. 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 was primarily attributable to increased synergies that were expected to be achieved from the integration of Yahoo’s operating business into our Media business. The goodwill related to this acquisition is included within Corporate and other. The 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 Related to the Yahoo Transaction, we recorded $473 million of acquisition and integration related charges during the year ended December 31, 2018 , of which $273 million , $195 million and an insignificant amount are related to Severance, Integration costs and Transaction costs, respectively. In connection with the Yahoo Transaction, we recorded acquisition and integration related charges of approximately $762 million during the year ended December 31, 2017 , of which $526 million , $166 million and $70 million related to Severance, Integration costs and Transaction costs, respectively. These charges were recorded in Selling, general and administrative expense in our consolidated statements of income. Data Center Sale In December 2016, we entered into a definitive agreement, which was subsequently amended in March 2017, with Equinix , Inc. (Equinix) 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 in May 2017. For the year ended December 31, 2017, these sites generated an insignificant amount of revenues and earnings. In connection with the Data Center Sale and other insignificant divestitures, we recorded a net gain on sale of divested businesses of approximately $1.8 billion in Selling, general and administrative expense in our consolidated statement of income for the year ended December 31, 2017. Straight Path In May 2017, we entered into a purchase agreement to acquire Straight Path , a holder of millimeter wave spectrum configured for fifth-generation ( 5G) wireless services, for total consideration reflecting an enterprise value of approximately $3.1 billion . Under the terms of the purchase agreement, we agreed to pay: (1) Straight Path shareholders $184.00 per share, payable in Verizon shares; and (2) certain transaction costs payable in cash of approximately $736 million , consisting primarily of a fee to be paid to the FCC. The transaction closed in February 2018 at which time we issued approximately 49 million shares of Verizon common stock, valued at approximately $2.4 billion , and paid the associated cash consideration. The acquisition of Straight Path was accounted for as an asset acquisition, as substantially all of the value related to the acquired spectrum. Upon closing, we recorded approximately $4.5 billion of wireless licenses and $1.4 billion of a deferred tax liability. The spectrum acquired as part of the transaction is being used for our 5G technology deployment. See Note 4 for additional information. WideOpenWest, Inc. In August 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 closed in December 2017. In addition, the parties entered into a separate agreement pursuant to which WOW! was to complete the build-out of the network assets in 2019. This build-out was completed in 2019. The total cash consideration for the transactions was approximately $275 million , of which $226 million was paid in December 2017. During 2019 and 2018, the remaining cash consideration was paid. Other In July 2019, Verizon completed a sale-leaseback transaction for buildings and real estate. See Note 6 for additional information related to the transaction. In connection with this transaction and other insignificant transactions, we recorded a pre-tax net gain from dispositions of assets and businesses of $261 million in Selling, general and administrative expense in our consolidated statement of income for the year ended December 31, 2019 . During 2019, 2018 and 2017, we completed various other acquisitions for an insignificant amount of cash consideration.

Wireless Licenses, Goodwill and

Wireless Licenses, Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Wireless Licenses, Goodwill and Other Intangible Assets	Note 4. Wireless Licenses, Goodwill and Other Intangible Assets Wireless Licenses The carrying amounts of Wireless licenses are as follows: (dollars in millions) At December 31, 2019 2018 Wireless licenses $ 95,059 $ 94,130 At December 31, 2019 and 2018 , approximately $6.2 billion and $8.6 billion , respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded approximately $321 million and $515 million of capitalized interest on wireless licenses for each of the years ended December 31, 2019 and 2018 , respectively. For the year ended December 31, 2018 , we recorded approximately $4.5 billion of wireless licenses in connection with the Straight Path acquisition and $657 million in connection with the NextLink acquisition. See Note 3 for additional information regarding spectrum license transactions in 2019 and 2018 . The average remaining renewal period of our wireless license portfolio was 4.6 years as of December 31, 2019 . See Note 1 for additional information. As discussed in Note 1 , we test our wireless licenses for potential impairment annually or more frequently if impairment indicators are present. In 2019, we performed a qualitative assessment to determine whether it was more likely than not that the fair value of our wireless licenses was less than the carrying amount. In 2018, our quantitative impairment test consisted of comparing the estimated fair value of our aggregate wireless licenses estimated using the Greenfield approach to the aggregated carrying amount of the licenses as of the test date. In 2017 , we performed a qualitative assessment to determine whether it was more likely than not that the fair value of our wireless licenses was less than the carrying amount. Our assessments in 2019 , 2018 and 2017 indicated that the fair value of our wireless licenses exceeded the carrying value and, therefore, did not result in impairment. Goodwill The Company transitioned into our new reporting structure as of April 1, 2019, which resulted in certain changes to our operating segments and reporting units. Upon the date of reorganization, the goodwill of our historical Wireless reporting unit, historical Wireline reporting unit and historical Verizon Connect reporting unit were reallocated to our new Consumer and Business reporting units using a relative fair value approach. Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Consumer Business Wireless Wireline Other (2) Total Balance at January 1, 2018 $ — $ — $ 18,397 $ 3,955 $ 6,820 $ 29,172 Acquisitions (Note 3) — — — (77 ) 225 148 Reclassifications, adjustments and other — — — (7 ) (108 ) (115 ) Media goodwill impairment — — — — (4,591 ) (4,591 ) Balance at December 31, 2018 — — 18,397 3,871 2,346 24,614 Acquisitions — — — 20 — 20 Reclassifications, adjustments and other — — — 1 — 1 Balance at March 31, 2019 — — 18,397 3,892 2,346 24,635 Reporting Unit reallocation (1) 17,104 7,269 (18,397 ) (3,892 ) (2,084 ) — Balance at April 1, 2019 17,104 7,269 — — 262 24,635 Acquisitions — 2 — — — 2 Media goodwill impairment — — — — (186 ) (186 ) Reclassifications, adjustments and other — (2 ) — — (60 ) (62 ) Balance at December 31, 2019 $ 17,104 $ 7,269 $ — $ — $ 16 $ 24,389 (1) Represents the reallocation of goodwill as a result of the Company reorganizing its segments as described in Note 1. (2) Goodwill is net of accumulated impairment charges of $4.6 billion as of December 31, 2018 and $4.8 billion as of December 31, 2019, related to our Media reporting unit. We performed impairment assessments of the impacted reporting units, specifically our historical Wireless, historical Wireline and historical Connect reporting units on March 31, 2019, immediately before our strategic reorganization became effective. Our impairment assessments indicated that the fair value for each of our historical Wireless, historical Wireline and historical Connect reporting units exceeded their respective carrying values, and therefore did not result in a goodwill impairment. We then performed quantitative assessments of our Consumer and Business reporting units on April 1, 2019, immediately following our strategic reorganization. Our impairment assessments indicated that the fair value for each of our Consumer and Business reporting units exceeded their respective carrying values and therefore, did not result in a goodwill impairment. Our Media reporting unit was not impacted by the strategic reorganization and there was no indicator of impairment as of the reorganization date. We performed qualitative impairment assessments for our Consumer and Business reporting units during the fourth quarter of 2019. Our qualitative assessments indicated that it was more likely than not that the fair values for our Consumer and Business reporting units exceeded their respective carrying values and, therefore, did not result in an impairment. We performed quantitative impairment assessments for our Media reporting unit in 2019 and 2018. For details on our Media reporting unit, refer to the discussion below. Our Media business, Verizon Media, experienced increased competitive and market pressures throughout 2018 that resulted in lower than expected revenues and earnings. These pressures were expected to continue and have resulted in a loss of market positioning to our competitors in the digital advertising business. Our Media business also achieved lower than expected benefits from the integration of the Yahoo and AOL businesses. In connection with Verizon’s annual budget process during the fourth quarter of 2019 and 2018, the leadership at both Verizon Media and Verizon completed a comprehensive five-year strategic planning review of Verizon Media's business prospects resulting in unfavorable adjustments to Verizon Media's financial projections. These revised projections were used as a key input into Verizon Media's annual goodwill impairment tests performed in the fourth quarter of 2019 and 2018. During the fourth quarter of 2019 and 2018, consistent with our accounting policy, we applied a combination of a market approach and a discounted cash flow method reflecting current assumptions and inputs, including our revised projections, discount rate and expected growth rates, which resulted in the determination that the fair value of the Media reporting unit was less than its carrying amount. As a result, we recorded a non-cash goodwill impairment charge of approximately $186 million ( $176 million after-tax) in the fourth quarter of 2019 and a charge of $4.6 billion ( $4.5 billion after-tax) in the fourth quarter of 2018 in our consolidated statements of income. The goodwill balance of the Media reporting unit has been fully written off as a result of these impairment charges. We performed a quantitative impairment assessment for all of the other reporting units in 2018. Our impairment tests indicated that the fair value for each of our historical Wireless, historical Wireline and historical Connect reporting units exceeded their respective carrying value and, therefore, did not result in an impairment. For 2017, we performed a quantitative impairment assessment for all of our reporting units, except for our historical Wireless reporting unit, for which a qualitative assessment was completed. For 2017, our impairment tests indicated that the fair value for each of our reporting units exceeded their respective carrying value and therefore, did not result in goodwill impairment. Other Intangible Assets The following table displays the composition of Other intangible assets, net as well as the respective amortization period: (dollars in millions) 2019 2018 At December 31, Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Customer lists (8 to 13 years) $ 3,896 $ (1,511 ) $ 2,385 $ 3,951 $ (1,121 ) $ 2,830 Non-network internal-use software (3 to 7 years) 20,530 (14,418 ) 6,112 18,603 (12,785 ) 5,818 Other (2 to 25 years) 1,967 (966 ) 1,001 1,988 (861 ) 1,127 Total $ 26,393 $ (16,895 ) $ 9,498 $ 24,542 $ (14,767 ) $ 9,775 The amortization expense for Other intangible assets was as follows: Years (dollars in millions) 2019 $ 2,311 2018 2,217 2017 2,213 Estimated annual amortization expense for Other intangible assets is as follows: Years (dollars in millions) 2020 $ 2,235 2021 1,931 2022 1,651 2023 1,317 2024 968

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Plant, Property and Equipment	Note 5. Property, Plant and Equipment The following table displays the details of Property, plant and equipment, which is stated at cost: (dollars in millions) At December 31, Lives (years) 2019 2018 Land - $ 594 $ 807 Buildings and equipment 7 to 45 31,216 30,468 Central office and other network equipment 3 to 50 152,733 147,250 Cable, poles and conduit 7 to 50 52,658 49,859 Leasehold improvements 5 to 20 9,072 8,580 Work in progress - 9,234 6,362 Furniture, vehicles and other 3 to 20 10,227 9,509 265,734 252,835 Less accumulated depreciation 173,819 163,549 Property, plant and equipment, net $ 91,915 $ 89,286

Leasing Arrangements

Leasing Arrangements	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leasing Arrangements	Note 6. Leasing Arrangements We enter into various lease arrangements for network equipment including towers, distributed antenna systems, small cells, real estate and connectivity mediums including dark fiber, equipment, and other various types of assets for use in our operations. Our leases have remaining lease terms ranging from 1 year to 28 years , some of which include options that we can elect to extend the leases term for up to 25 years , and some of which include options to terminate the leases. For the majority of leases entered into during the current period, we have concluded it is not reasonably certain that we would exercise the options to extend the lease or terminate the lease. Therefore, as of the lease commencement date, our lease terms generally do not include these options. We include options to extend the lease when it is reasonably certain that we will exercise that option. During March 2015, we completed a transaction with American Tower Corporation (American Tower) pursuant to which American Tower acquired the exclusive rights to lease and operate approximately 11,300 of our wireless towers for an upfront payment of $5.0 billion . We have subleased capacity on the towers from American Tower for a minimum of 10 years at current market rates in 2015, with options to renew. We continue to include the towers in Property, plant and equipment , net in our consolidated balance sheets and depreciate them accordingly. In addition to the rights to lease and operate the towers, American Tower assumed the interest in the underlying ground leases related to these towers. While American Tower can renegotiate the terms of and is responsible for paying the ground leases, we are still the primary obligor for these leases and accordingly, the present value of these ground leases are included in our operating lease right-of-use assets and operating lease liabilities. We do not expect to be required to make ground lease payments unless American Tower defaults, which we determined to be remote. The components of net lease cost were as follows: (dollars in millions) Year Ended December 31, Classification 2019 Operating lease cost (1) Cost of services Selling, general and administrative expense $ 4,746 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 330 Interest on lease liabilities Interest expense 38 Short-term lease cost (1) Cost of services Selling, general and administrative expense 40 Variable lease cost (1) Cost of services 218 Sublease income Service revenues and other (275 ) Total net lease cost $ 5,097 Gain on sale and leaseback transaction, net Selling, general and administrative expense $ (391 ) (1) All operating lease costs, including short-term and variable lease costs, are split between Cost of services and Selling, general and administrative expense in the consolidated statements of income based on the use of the facility or equipment that the rent is being paid on. See Note 1 for additional information. Variable lease costs represent payments that are dependent on a rate or index, or on usage of the asset. Supplemental disclosure for the statement of cash flows related to operating and finance leases were as follows: (dollars in millions) Year Ended December 31, 2019 Cash Flows from Operating Activities Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ (4,392 ) Operating cash flows for finance leases (38 ) Cash Flows from Financing Activities Financing cash flows for finance leases (352 ) Supplemental lease cash flow disclosures Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 3,510 Right-of-use assets obtained in exchange for new finance lease liabilities 564 Supplemental disclosures for the balance sheet related to finance leases were as follows: (dollars in millions) At December 31, 2019 Assets Property, plant and equipment, net $ 939 Liabilities Debt maturing within one year $ 336 Long-term debt 780 Total Finance lease liabilities $ 1,116 The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows: At December 31, 2019 Weighted-average remaining lease term (years) Operating Leases 9 Finance Leases 5 Weighted-average discount rate Operating Leases 4.0 % Finance Leases 3.2 % The Company's maturity analysis of operating and finance lease liabilities as of December 31, 2019 were as follows: (dollars in millions) Years Operating Leases Finance Leases 2020 $ 4,099 $ 366 2021 3,764 271 2022 3,363 208 2023 3,001 152 2024 2,484 92 Thereafter 9,257 124 Total lease payments 25,968 1,213 Less interest 4,314 97 Present value of lease liabilities 21,654 1,116 Less current obligation 3,261 336 Long-term obligation at December 31, 2019 $ 18,393 $ 780 As of December 31, 2019 , we have contractually obligated lease payments amounting to $1.9 billion for office facility operating leases and small cell colocation and fiber operating leases that have not yet commenced. We have legally obligated lease payments for various other operating leases that have not yet commenced for which the total obligation was not significant. We have certain rights and obligations for these leases, but have not recognized an operating lease right-of-use asset or an operating lease liability since they have not yet commenced. Real Estate Transaction On July 23, 2019, Verizon completed a sale-leaseback transaction for buildings and real estate. We received total gross proceeds of approximately $1.0 billion . We leased back a portion of the buildings and real estate sold and accounted for it as an operating lease. The term of the leaseback is for two years with four options to renew for an additional three months each. The proceeds received as a result of this transaction have been classified in Other, net within Cash Flows from Investing Activities in our consolidated statement of cash flows for the year ended December 31, 2019. The net gain as a result of this transaction is included in the components of net lease cost table above. Disclosures Related to Periods Prior to Adoption of Topic 842 Total rent expense under operating leases amounted to $4.1 billion in 2018 and $3.8 billion in 2017. Amortization of capital leases was included in Depreciation and amortization expense in the consolidated statements of income. Capital lease amounts included in Property, plant and equipment were as follows: (dollars in millions) At December 31, 2018 Capital leases $ 1,756 Less accumulated amortization 998 Total $ 758
Leasing Arrangements	Note 6. Leasing Arrangements We enter into various lease arrangements for network equipment including towers, distributed antenna systems, small cells, real estate and connectivity mediums including dark fiber, equipment, and other various types of assets for use in our operations. Our leases have remaining lease terms ranging from 1 year to 28 years , some of which include options that we can elect to extend the leases term for up to 25 years , and some of which include options to terminate the leases. For the majority of leases entered into during the current period, we have concluded it is not reasonably certain that we would exercise the options to extend the lease or terminate the lease. Therefore, as of the lease commencement date, our lease terms generally do not include these options. We include options to extend the lease when it is reasonably certain that we will exercise that option. During March 2015, we completed a transaction with American Tower Corporation (American Tower) pursuant to which American Tower acquired the exclusive rights to lease and operate approximately 11,300 of our wireless towers for an upfront payment of $5.0 billion . We have subleased capacity on the towers from American Tower for a minimum of 10 years at current market rates in 2015, with options to renew. We continue to include the towers in Property, plant and equipment , net in our consolidated balance sheets and depreciate them accordingly. In addition to the rights to lease and operate the towers, American Tower assumed the interest in the underlying ground leases related to these towers. While American Tower can renegotiate the terms of and is responsible for paying the ground leases, we are still the primary obligor for these leases and accordingly, the present value of these ground leases are included in our operating lease right-of-use assets and operating lease liabilities. We do not expect to be required to make ground lease payments unless American Tower defaults, which we determined to be remote. The components of net lease cost were as follows: (dollars in millions) Year Ended December 31, Classification 2019 Operating lease cost (1) Cost of services Selling, general and administrative expense $ 4,746 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 330 Interest on lease liabilities Interest expense 38 Short-term lease cost (1) Cost of services Selling, general and administrative expense 40 Variable lease cost (1) Cost of services 218 Sublease income Service revenues and other (275 ) Total net lease cost $ 5,097 Gain on sale and leaseback transaction, net Selling, general and administrative expense $ (391 ) (1) All operating lease costs, including short-term and variable lease costs, are split between Cost of services and Selling, general and administrative expense in the consolidated statements of income based on the use of the facility or equipment that the rent is being paid on. See Note 1 for additional information. Variable lease costs represent payments that are dependent on a rate or index, or on usage of the asset. Supplemental disclosure for the statement of cash flows related to operating and finance leases were as follows: (dollars in millions) Year Ended December 31, 2019 Cash Flows from Operating Activities Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ (4,392 ) Operating cash flows for finance leases (38 ) Cash Flows from Financing Activities Financing cash flows for finance leases (352 ) Supplemental lease cash flow disclosures Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 3,510 Right-of-use assets obtained in exchange for new finance lease liabilities 564 Supplemental disclosures for the balance sheet related to finance leases were as follows: (dollars in millions) At December 31, 2019 Assets Property, plant and equipment, net $ 939 Liabilities Debt maturing within one year $ 336 Long-term debt 780 Total Finance lease liabilities $ 1,116 The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows: At December 31, 2019 Weighted-average remaining lease term (years) Operating Leases 9 Finance Leases 5 Weighted-average discount rate Operating Leases 4.0 % Finance Leases 3.2 % The Company's maturity analysis of operating and finance lease liabilities as of December 31, 2019 were as follows: (dollars in millions) Years Operating Leases Finance Leases 2020 $ 4,099 $ 366 2021 3,764 271 2022 3,363 208 2023 3,001 152 2024 2,484 92 Thereafter 9,257 124 Total lease payments 25,968 1,213 Less interest 4,314 97 Present value of lease liabilities 21,654 1,116 Less current obligation 3,261 336 Long-term obligation at December 31, 2019 $ 18,393 $ 780 As of December 31, 2019 , we have contractually obligated lease payments amounting to $1.9 billion for office facility operating leases and small cell colocation and fiber operating leases that have not yet commenced. We have legally obligated lease payments for various other operating leases that have not yet commenced for which the total obligation was not significant. We have certain rights and obligations for these leases, but have not recognized an operating lease right-of-use asset or an operating lease liability since they have not yet commenced. Real Estate Transaction On July 23, 2019, Verizon completed a sale-leaseback transaction for buildings and real estate. We received total gross proceeds of approximately $1.0 billion . We leased back a portion of the buildings and real estate sold and accounted for it as an operating lease. The term of the leaseback is for two years with four options to renew for an additional three months each. The proceeds received as a result of this transaction have been classified in Other, net within Cash Flows from Investing Activities in our consolidated statement of cash flows for the year ended December 31, 2019. The net gain as a result of this transaction is included in the components of net lease cost table above. Disclosures Related to Periods Prior to Adoption of Topic 842 Total rent expense under operating leases amounted to $4.1 billion in 2018 and $3.8 billion in 2017. Amortization of capital leases was included in Depreciation and amortization expense in the consolidated statements of income. Capital lease amounts included in Property, plant and equipment were as follows: (dollars in millions) At December 31, 2018 Capital leases $ 1,756 Less accumulated amortization 998 Total $ 758

Debt

Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	Note 7. Debt Outstanding long-term debt obligations as of December 31, 2019 and 2018 are as follows: (dollars in millions) At December 31, Maturities Interest 2019 2018 Verizon Communications 2019-2024 1.38 – 5.51 $ 19,885 $ 24,242 2025-2029 1.38 – 6.80 30,038 23,711 2030-2055 2.65 – 8.95 47,777 54,662 2019-2024 Floating (1) 2,210 2,868 2025-2029 Floating (1) 1,789 1,789 Alltel Corporation 2025-2029 6.80 38 116 2030-2055 7.88 58 118 Operating telephone company subsidiaries—debentures 2019-2024 7.88 – 8.00 141 147 2025-2029 6.00 – 8.38 286 288 2030-2055 5.13 – 8.75 339 361 GTE LLC 2019-2024 8.75 141 178 2025-2029 6.94 250 266 Other subsidiaries—asset-backed debt 2019-2024 1.42 – 3.56 8,116 7,962 2019-2024 Floating (1) 4,277 2,139 Finance lease obligations (average rate of 3.2% and 4.1% in 2019 and 2018, respectively) 1,116 905 Unamortized discount, net of premium (4,480 ) (6,298 ) Unamortized debt issuance costs (492 ) (541 ) Total long-term debt, including current maturities 111,489 112,913 Less long-term debt maturing within one year 10,777 7,040 Total long-term debt $ 100,712 $ 105,873 Total long-term debt, including current maturities $ 111,489 $ 112,913 Plus short-term notes payable — 150 Total debt $ 111,489 $ 113,063 (1) The debt obligations bore interest at a floating rate based on the London Interbank Offered Rate (LIBOR) plus an applicable interest margin per annum. Maturities of long-term debt (secured and unsecured) outstanding, including current maturities, excluding unamortized debt issuance costs, at December 31, 2019 are as follows: Years (dollars in millions) 2020 $ 10,470 2021 7,269 2022 9,162 2023 5,591 2024 4,212 Thereafter 74,161 During 2019 , we received $18.7 billion of proceeds from long-term borrowings, which included $8.6 billion of proceeds from asset-backed debt transactions. The net proceeds were used for general corporate purposes including the repayment of debt. We used $23.9 billion of cash to repay, redeem and repurchase long-term borrowings and finance lease obligations, including $6.3 billion to prepay and repay asset-backed, long-term borrowings. During 2018 , we received $10.8 billion of proceeds from long-term borrowings, which included $4.8 billion of proceeds from asset-backed debt transactions. The net proceeds were used for general corporate purposes including the repayment of debt. We used $14.6 billion of cash to repay, redeem and repurchase long-term borrowings and finance lease obligations, including $3.6 billion to prepay and repay asset-backed, long-term borrowings. 2019 Significant Debt Transactions The following tables show the significant transactions involving the senior unsecured debt securities of Verizon and its subsidiaries that occurred during the year ended December 31, 2019 . Exchange Offers (dollars in millions) Principal Amount Exchanged Principal Amount Issued Verizon 1.750% - 5.150% notes and floating rate notes, due 2021 - 2025 $ 3,892 $ — GTE LLC 8.750% debentures, due 2021 21 — Verizon 4.016% notes due 2029 (1) — 4,000 Total $ 3,913 $ 4,000 (1) The principal amount issued in exchange does not include either an insignificant amount of cash paid in lieu of the issuance of fractional new notes or accrued and unpaid interest paid on the old notes accepted for exchange to the date of exchange. Tender Offers (dollars in millions) Principal Amount Purchased Cash Consideration (1) Verizon 4.672% - 5.012% notes due 2054 - 2055 $ 4,500 $ 5,030 Verizon 3.850% - 6.550% notes due 2039 - 2055 3,816 4,828 Verizon and other subsidiaries 5.050% - 8.950% notes and debentures due 2021 - 2041 593 837 Total $ 8,909 $ 10,695 (1) The total cash consideration includes the tender offer consideration, plus any accrued and unpaid interest to the date of purchase. Redemptions, Repurchases and Repayments (dollars in millions) Principal Redeemed/ Repurchased/ Repaid Amount Paid as % of Principal (1) Verizon 5.900% notes due 2054 $ 500 100.000 % Verizon 1.375% notes due 2019 206 100.000 % Verizon 1.750% notes due 2021 621 100.000 % Verizon 3.000% notes due 2021 930 101.061 % Verizon 3.500% notes due 2021 315 102.180 % Verizon 2.625% notes due 2020 831 100.037 % Verizon 3.500% notes due 2021 736 102.238 % Verizon floating rate (LIBOR + 0.770%) notes due 2019 229 100.000 % Verizon 4.200% notes due 2046 2,059 100.000 % Verizon floating rate (LIBOR + 0.370%) notes due 2019 306 100.000 % Verizon 2.600% - 4.300% Internotes due 2022 - 2029 201 100.000 % Open market repurchases of various Verizon notes 543 Various Total $ 7,477 (1) Percentages represent price paid to redeem, repurchase and repay. In February 2020, we redeemed, in whole, approximately $1.5 billion aggregate principal amount of 4.95% Notes due 2047. Issuances (dollars in millions) Principal Amount Issued Net Proceeds (1) Verizon 3.875% notes due 2029 (2) $ 1,000 $ 994 Verizon 5.000% notes due 2051 $ 510 506 Verizon 0.875% notes due 2027 € 1,250 1,391 Verizon 1.250% notes due 2030 € 1,250 1,385 Verizon 2.500% notes due 2031 £ 500 647 Verizon 0.875% notes due 2032 € 800 882 Verizon 1.500% notes due 2039 € 500 545 Verizon 1.875% notes due 2030 £ 550 672 Verizon 2.100% notes due 2026 A$ 450 307 Verizon 2.650% notes due 2030 A$ 300 205 Verizon 3.500% notes due 2039 A$ 500 341 Total $ 7,875 (1) Net proceeds were net of discount and issuance costs. (2) An amount equal to the net proceeds from this green bond will be used to fund, in whole or in part, "Eligible Green Investments." "Eligible Green Investments" include new and existing investments made by us during the period from two years prior to the issuance of the green bond through the maturity date of the green bond, in the following categories: (1) renewable energy; (2) energy efficiency; (3) green buildings; (4) sustainable water management; and (5) biodiversity and conservation. Short-Term Borrowing and Commercial Paper Program In July 2018 , we entered into a short-term uncommitted credit facility with the ability to borrow up to $700 million . As of December 31, 2019 and 2018, there was no outstanding balance. As of December 31, 2019 and 2018 , we had no commercial paper outstanding. Asset-Backed Debt As of December 31, 2019 , the carrying value of our asset-backed debt was $12.4 billion . Our asset-backed debt includes Asset-Backed Notes (ABS Notes) issued to third-party investors (Investors) and loans (ABS Financing Facilities) received from banks and their conduit facilities (collectively, the Banks). Our consolidated asset-backed debt 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, Cellco Partnership (Cellco) and certain other affiliates of Verizon (collectively, the Originators) transfer device payment plan agreement receivables 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 and the Originators to the ABS Entities. Cash collections on the device payment plan agreement receivables collateralizing our asset-backed debt securities 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 in our consolidated balance sheets. Proceeds from our asset-backed debt transactions are reflected in Cash flows from financing activities in our consolidated statements of cash flows. The asset-backed debt issued and the assets securing this debt are included in our consolidated balance sheets. ABS Notes During the year ended December 31, 2019 , we completed the following ABS Notes transactions: (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued March 2019 A-1a Senior class notes 2.930 2.50 $ 900 A-1b Senior floating rate class notes LIBOR + 0.330 (1) 2.50 100 B Junior class notes 3.020 3.22 69 C Junior class notes 3.220 3.40 53 March 2019 total 1,122 June 2019 A-1a Senior class notes 2.330 2.52 855 A-1b Senior floating rate class notes LIBOR + 0.450 (1) 2.52 145 B Junior class notes 2.400 3.28 69 C Junior class notes 2.600 3.47 53 June 2019 total 1,122 October 2019 A-1a Senior class notes 1.940 2.51 1,276 A-1b Senior floating rate class notes LIBOR + 0.420 (1) 2.51 150 B Junior class notes 2.060 3.23 98 C Junior class notes 2.160 3.41 76 October 2019 total 1,600 Total $ 3,844 (1) The one-month LIBOR at December 31, 2019 was 1.763% . Under the terms of each series of ABS Notes, there is a two year revolving period during which we may transfer additional receivables to the ABS Entity. In April, July and November 2019, the two year revolving period of the ABS Notes we issued in March, June and October 2017, respectively, ended, and we began to repay principal on the 2017-1, 2017-2 and 2017-3 Class A senior ABS Notes. In October 2019, in connection with an optional acquisition of receivables and redemption of 2016-1 Notes, we made a principal payment, in whole, for an insignificant amount. During the year ended December 31, 2019, we made aggregate principal repayments of $3.3 billion , for all ABS Notes. In January 2020, we issued $1.6 billion aggregate principal amount of senior and junior Asset-Backed Notes through an ABS Entity. ABS Financing Facility In May 2018, we entered into an ABS financing facility with a number of financial institutions (2018 ABS Financing Facility). One loan agreement was entered into in connection with the 2018 ABS Financing Facility. In May 2019, the $540 million outstanding under the loan agreement was prepaid, and the loan agreement was terminated. In September 2016, we entered into an ABS financing facility with a number of financial institutions (2016 ABS Financing Facility). Two loan agreements were entered into in connection with the 2016 ABS Financing Facility in September 2016 and May 2017. In April and May 2019, we paid off both the 2016 and 2017 loans for an aggregate of $671 million , and the loan agreements were terminated . In May 2019, the 2016 ABS Financing Facility was amended and restated (2019 ABS Financing Facility). Under the terms of the 2019 ABS Financing Facility, which is an uncommitted facility, the financial institutions make advances under asset-backed loans backed by device payment plan agreement receivables of both consumer and business customers. One loan agreement was entered into in connection with the 2019 ABS Financing Facility. The 2019 loan agreement has a final maturity date in May 2023 and bears interest at floating rates. There is a one year revolving period until May 2020, which may be extended with the approval of the financial institutions. Under the 2019 loan agreement, we have the right to prepay all or a portion of the advances at any time without penalty, but in certain cases, with breakage costs. Subject to certain conditions, we may also remove receivables from the ABS Entity. In May 2019, we borrowed $1.8 billion under the 2019 loan agreement. In August 2019, we prepaid $1.5 billion of the loan made in May 2019 under the 2019 loan agreement. In November 2019, we borrowed an additional $1.5 billion under the 2019 loan agreement. In December 2019, the 2019 loan agreement was amended to increase the facility by an additional $1.5 billion , and an additional $1.5 billion was borrowed under the 2019 loan agreement. The aggregate outstanding balance under the 2019 ABS Financing Facility was $3.3 billion as of December 31, 2019 . In January 2020, we prepaid $1.3 billion of the loan under the 2019 loan agreement. Variable Interest Entities 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 consolidated balance sheets. The assets and liabilities related to our asset-backed debt arrangements included in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2019 2018 Assets Accounts receivable, net $ 10,525 $ 8,861 Prepaid expenses and other 1,180 989 Other assets 3,856 2,725 Liabilities Accounts payable and accrued liabilities 11 7 Debt maturing within one year 5,578 5,352 Long-term debt 6,791 4,724 See Note 8 for additional information on device payment plan agreement receivables used to secure asset-backed debt. Long-Term Credit Facilities At December 31, 2019 (dollars in millions) Maturities Facility Capacity Unused Capacity Principal Amount Outstanding Verizon revolving credit facility (1) 2022 $ 9,500 $ 9,390 N/A Various export credit facilities (2) 2022-2027 5,500 — 4,471 Total $ 15,000 $ 9,390 $ 4,471 (1) The revolving 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. The revolving credit facility provides for the issuance of letters of credit. (2) During 2019 and 2018, we drew down $1.5 billion and $3.0 billion from these facilities, respectively. We use these credit facilities to finance equipment-related purchases. Non-Cash Transaction During the years ended December 31, 2019 , 2018 and 2017 , we financed, primarily through vendor financing arrangements, the purchase of approximately $563 million , $1.1 billion , and $501 million , respectively, of long-lived assets consisting primarily of network equipment. At both December 31, 2019 and 2018 , $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 are not reflected within Capital expenditures in our consolidated statements of cash flows. Early Debt Redemptions During 2019 , 2018 and 2017, we recorded losses on early debt redemptions of $3.7 billion , $681 million , and $2.0 billion , respectively. We recognize losses on early debt redemptions in Other income (expense), net , in our consolidated statements of income. The total losses are reflected as an adjustment to reconcile net income to Net cash used in operating activities and the portion of the losses representing cash payments are reflected within Net cash used in financing activities in our consolidated statements of cash flows. Guarantees We guarantee the debentures of our operating telephone company subsidiaries. As of December 31, 2019 , $765 million 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 December 31, 2019 , $391 million aggregate principal amount of these obligations remain outstanding. Debt Covenants We and our consolidated subsidiaries are in compliance with all of our restrictive covenants in our debt agreements.

Wireless Device Payment Plans

Wireless Device Payment Plans	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Wireless Device Payment Plans	Note 8. 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 wireless monthly bill. As of January 2017, we no longer offer Consumer customers new fixed-term, subsidized service plans for phones; however, we continue to offer subsidized plans to our Business customers. We also continue to service existing plans for customers who have not yet purchased and activated devices under the Verizon device payment program. Wireless Device Payment Plan Agreement Receivables The following table displays device payment plan agreement receivables, net, that are recognized in our consolidated balance sheets: (dollars in millions) At December 31, 2019 2018 Device payment plan agreement receivables, gross $ 19,493 $ 19,313 Unamortized imputed interest (454 ) (546 ) Device payment plan agreement receivables, net of unamortized imputed interest 19,039 18,767 Allowance for credit losses (472 ) (597 ) Device payment plan agreement receivables, net $ 18,567 $ 18,170 Classified in our consolidated balance sheets: Accounts receivable, net $ 13,045 $ 12,624 Other assets 5,522 5,546 Device payment plan agreement receivables, net $ 18,567 $ 18,170 Included in our device payment plan agreement receivables, net at December 31, 2019 and December 31, 2018 , are net device payment plan agreement receivables of $14.3 billion and $11.5 billion , respectively, which have been transferred to ABS Entities and continue to be reported in our consolidated balance sheets. See Note 7 for additional information. We believe the carrying value of our installment loans receivables approximate their fair value using a Level 3 expected cash flow model. We may offer certain promotions that allow a customer to trade in their 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 customer's right to trade-in the device measured at fair value, which is determined 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 December 31, 2019 and December 31, 2018 , the amount of trade-in liability was $103 million and $64 million , respectively. From time to time, we offer certain marketing promotions that allow our 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. When a customer enters into a device payment plan agreement with the right to upgrade to a new device, we account for this trade-in right as a guarantee obligation. For indirect channel wireless contracts with customers, 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 in our consolidated statements of income, is recognized over the financed device payment term. See Note 2 for additional information on financing considerations with respect to wireless direct channel contracts with customers. When originating device payment plan agreements for Consumer customers, 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 or has 45 days or less of customer tenure with Verizon, the credit decision process relies more heavily on external data sources. If the customer has more than 45 days of customer tenure with Verizon (an existing customer), the credit decision process relies on a combination of internal and external data sources. External data sources include obtaining a credit report from a national consumer credit reporting agency, if available. Verizon 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’s proprietary custom credit models, which are empirically derived and 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 specified offers of credit including an account level spending limit and either a maximum amount of credit allowed per device or a required down payment percentage. During the fourth quarter of 2018, Verizon moved all Consumer customers, new and existing, from a required down payment percentage, between zero and 100% , to a maximum amount of credit per device. Subsequent to origination, Verizon 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 that 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 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: (dollars in millions) At December 31, 2019 2018 Unbilled $ 18,203 $ 18,043 Billed: Current 1,002 986 Past due 288 284 Device payment plan agreement receivables, gross $ 19,493 $ 19,313 Activity in the allowance for credit losses for the device payment plan agreement receivables was as follows: (dollars in millions) 2019 2018 Balance at January 1, $ 597 $ 848 Bad debt expense 915 459 Write-offs (1,040 ) (710 ) Balance at December 31, $ 472 $ 597 Sales of Wireless Device Payment Plan Agreement Receivables In 2015 and 2016, we established programs pursuant to a Receivables Purchase Agreement (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 and non-revolving basis, collectively the Programs. Under the Programs, eligible device payment plan agreement receivables were transferred to the Purchasers for upfront cash proceeds and additional consideration upon settlement of the receivables, referred to as the deferred purchase price. In December 2017, the RPA and all other related transaction documents were terminated and as of December 31, 2017 we had no further continuing involvement with any of the receivables sold under the RPA program. There were no sales of device payment plan agreement receivables under the Programs during 2017. Deferred Purchase Price Collections of deferred purchase price were $1.4 billion during 2017. During 2017, we repurchased all outstanding receivables previously sold to the Purchasers in exchange for the obligation to pay the associated deferred purchase price to the wholly-owned subsidiaries that were bankruptcy remote special purpose entities (Sellers). At December 31, 2017, our deferred purchase price receivable was fully satisfied. Collections following the repurchase of receivables were insignificant , $195 million and $238 million during 2019, 2018 and 2017, respectively. Collections of both deferred purchase price and repurchased receivables were recorded in Cash flows used in investing activities in our consolidated statement of cash flows.

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements and Financial Instruments	Note 9. Fair Value Measurements and Financial Instruments Recurring Fair Value Measurements The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Fixed income securities $ — $ 442 $ — $ 442 Interest rate swaps — 568 — 568 Cross currency swaps — 211 — 211 Foreign exchange forwards — 5 — 5 Total $ — $ 1,226 $ — $ 1,226 Liabilities: Other liabilities: Interest rate swaps $ — $ 173 $ — $ 173 Cross currency swaps — 912 — 912 Forward starting interest rate swaps — 604 — 604 Total $ — $ 1,689 $ — $ 1,689 The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Fixed income securities $ — $ 405 $ — $ 405 Interest rate swaps — 3 — 3 Cross currency swaps — 220 — 220 Interest rate caps — 14 — 14 Total $ — $ 642 $ — $ 642 Liabilities: Other liabilities: Interest rate swaps $ — $ 813 $ — $ 813 Cross currency swaps — 536 — 536 Forward starting interest rate swaps — 60 — 60 Interest rate caps — 4 — 4 Total $ — $ 1,413 $ — $ 1,413 (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) Unobservable pricing inputs in the market Certain of our equity investments do not have readily determinable fair values and are excluded from the tables above. Such investments are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer and are included in Investments in unconsolidated businesses in our consolidated balance sheets. As of December 31, 2019 and December 31, 2018 , the carrying amount of our investments without readily determinable fair values was $284 million and $248 million , respectively. During 2019 , there were insignificant adjustments due to observable price changes and we recognized an insignificant impairment charge. Cumulative adjustments due to observable price changes and impairment charges were insignificant. Fixed income securities consist primarily of investments in municipal bonds. For 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 2019 and 2018 . 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 finance leases, was as follows: (dollars in millions) At December 31, 2019 2018 Carrying Amount Fair Value Carrying Amount Fair Value Short- and long-term debt, excluding finance leases $ 110,373 $ 129,200 $ 112,159 $ 118,535 Derivative Instruments The following table sets forth the notional amounts of our outstanding derivative instruments: (dollars in millions) At December 31, 2019 2018 Interest rate swaps $ 17,004 $ 19,813 Cross currency swaps 23,070 16,638 Forward starting interest rate swaps 3,000 4,000 Interest rate caps 679 2,218 Foreign exchange forwards 1,130 600 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 that are currently 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 in our 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 2019 , we entered into interest rate swaps with a total notional value of $510 million and settled interest rate swaps with a total notional value of $3.3 billion . During 2018 , we entered into interest rate swaps with a total notional value of $730 million and settled interest rate swaps with a total notional value of $1.1 billion . The ineffective portion of these interest rate swaps was $54 million and insignificant for the years ended December 31, 2019 and 2018 , respectively. The following amounts were recorded in Long-term debt in our consolidated balance sheets related to cumulative basis adjustments for fair value hedges: (dollars in millions) At December 31, 2019 2018 Carrying amount of hedged liabilities $ 17,337 $ 18,903 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities 433 (785 ) 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 2019 , we entered into cross currency swaps with a total notional value of $6.4 billion and did not settle any cross currency swaps. A pre-tax loss of $385 million was recognized in Other comprehensive loss with respect to these swaps. During 2018 , we did not enter into or settle any cross currency swaps. A pre-tax loss of $720 million was recognized in Other comprehensive loss with respect to these swaps. A portion of the losses recognized in Other comprehensive 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. Forward Starting Interest Rate Swaps We have entered into forward starting interest rate swaps designated as cash flow hedges in order to manage our exposure to interest rate changes on future forecasted transactions. During 2019 , we did not enter into any forward starting interest rate swaps and we settled forward starting interest rate swaps with a total notional value of $1.0 billion . A pre-tax loss of $565 million , resulting from interest rate movements was recognized in Other comprehensive loss with respect to these swaps. During 2018 , we entered into forward starting interest rate swaps with a total notional value of $4.0 billion . A pre-tax loss of $60 million was recognized in Other comprehensive loss with respect to these swaps. We hedge our exposure to the variability in future cash flows of based on the expected maturities of the related forecasted debt issuance. 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 €750 million as of both December 31, 2019 and 2018 , respectively. Undesignated Derivatives We also have the following derivative contracts which we use as economic hedges 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 and ABS Notes. During both 2019 and 2018, we recognized an insignificant amount in Interest expense related to interest rate caps. Foreign Exchange Forwards We enter into British Pound Sterling and Euro foreign exchange forwards to mitigate our foreign exchange rate risk related to non-functional currency denominated monetary assets and liabilities of international subsidiaries. During 2019 , we entered into foreign exchange forwards with a total notional value of $12.0 billion and settled foreign exchange forwards with a total notional value of $11.5 billion . During 2018 , we entered into foreign exchange forwards with a total notional value of $2.8 billion and settled foreign exchange forwards with a total notional value of $2.2 billion . During 2019 and 2018, a pre-tax loss of insignificant amount was recognized in Other income (expense), net . Treasury Rate Locks During 2019 , we entered into treasury rate locks with a total notional value of $1.5 billion to hedge the tender offers conducted in May 2019 for fifteen series of notes issued by Verizon with coupon rates ranging from 4.672% to 5.012% and maturity dates ranging from 2054 to 2055 (May Tender offers). In addition, we entered into treasury rate locks with a total notional value of $1.5 billion to hedge the tender offers conducted in November and December 2019 for eleven and twenty series of notes and debentures, respectively, issued by Verizon and other subsidiaries with coupon rates ranging from 3.850% to 8.950% and maturity dates ranging from 2021 to 2055 (November and December Tender offers). Upon the early settlement of the May, November and December Tender Offers, we settled these hedges and recognized an insignificant gain in Other income (expense), net . During 2018 , we entered into treasury rate locks with a total notional value of $2.0 billion to hedge the tender offers conducted in September 2018 for eight series of notes issued by Verizon with coupon rates ranging from 3.850% to 5.012% and maturity dates ranging from 2039 to 2055 (September Tender Offers). Upon the early settlement of the September Tender Offers, we settled these hedges and recognized an insignificant loss in Other income (expense), net . 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 major financial institutions with whom we have negotiated derivatives agreements (ISDA master agreements) and credit support annex (CSA) agreements which provide rules for collateral exchange. Negotiations and executions of new ISDA master agreements and CSA agreements with our counterparties continued during 2018. The CSA agreements contain rating based thresholds such that we or our counterparties may be required to hold or post collateral based upon changes in outstanding positions as compared to established thresholds and changes in credit ratings. At December 31, 2019 , we held an insignificant amount and at December 31, 2018 , we posted approximately $0.1 billion of collateral related to derivative contracts under collateral exchange arrangements, which were recorded as Other current liabilities and Prepaid expenses and other, respectively, in our consolidated balance sheets. 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.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 10. Stock-Based Compensation Verizon 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). 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 for issuance under the 2017 Plan the number of shares that were remaining but not issued under the 2009 Plan. Shares subject to outstanding awards under the 2009 Plan that expire, are canceled or otherwise terminated will also be available for awards under the 2017 Plan. As of December 31, 2019 , 89 million shares are reserved for future issuance under the 2017 Plan. Restricted Stock Units Restricted Stock Units (RSUs) granted under the 2017 Plan generally vest in three equal installments on each anniversary of the grant date. The RSUs that are paid in stock upon vesting and are thus classified as 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. The RSUs that are settled in cash are classified as liability awards and the liability is measured at its fair value at the end of each reporting period. All RSUs granted under the 2017 Plan have dividend equivalent units, which will be paid to participants at the time the RSU award is paid, and in the same proportion as the RSU award. In February 2018, Verizon announced a broad-based employee special award of RSUs under the 2017 Plan to eligible full-time and part-time employees. These RSUs are vested in two equal installments on each anniversary of the grant date and paid in cash. The first installment of the restricted stock units was vested and paid in February 2019 and the remaining restricted stock units will be vested and paid in February 2020. 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. We estimate forfeitures at the time of grant and revise those estimates in subsequent periods if actual forfeitures differ from those estimates. We use historical data to estimate forfeitures and recognize that estimated compensation cost of restricted stock units, net of estimated forfeitures, on a straight-line basis over the vesting period. Performance Stock Units The 2017 Plan also provides for grants of Performance Stock Units (PSUs) that generally vest at the end of the third year after the grant. As defined by the 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. All PSUs granted under the 2017 Plan have dividend equivalent units, which will be paid to participants at the time that 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 Verizon’s Restricted Stock Unit and Performance Stock Unit activity: Restricted Stock Units Performance (shares in thousands) Equity Awards Liability Awards Stock Units Outstanding January 1, 2017 13,308 — 17,919 Granted 4,216 25,168 6,564 Payments (4,825 ) (8,487 ) (6,031 ) Cancelled/Forfeited (66 ) (2,690 ) (217 ) Outstanding December 31, 2017 12,633 13,991 18,235 Granted 4,134 15,157 5,779 Payments (5,977 ) (6,860 ) (4,526 ) Cancelled/Forfeited (213 ) (2,362 ) (2,583 ) Outstanding December 31, 2018 10,577 19,926 16,905 Granted 3,169 5,814 4,593 Payments (6,397 ) (9,429 ) (3,255 ) Cancelled/Forfeited (90 ) (1,598 ) (2,692 ) Outstanding December 31, 2019 7,259 14,713 15,551 As of December 31, 2019 , unrecognized compensation expense related to the unvested portion of Verizon’s RSUs and PSUs was approximately $765 million and is expected to be recognized over approximately two years . The equity RSUs granted in 2019 and 2018 have weighted-average grant date fair values of $56.66 and $49.19 per unit, respectively. During 2019 , 2018 and 2017 , we paid $737 million , $773 million and $750 million , respectively, to settle RSUs and PSUs classified as liability awards. Stock-Based Compensation Expense After-tax compensation expense for stock-based compensation related to RSUs and PSUs described above included in Net income attributable to Verizon was $872 million , $720 million and $384 million for 2019 , 2018 and 2017 , respectively.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Employee Benefits	Note 11. Employee Benefits We maintain non-contributory defined benefit pension plans for certain 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 current and future retirees. In accordance with our accounting policy for pension and other postretirement benefits, operating expenses include service costs associated with pension and other postretirement benefits while other credits and/or charges based on actuarial assumptions, including projected discount rates, an estimated return on plan assets, and impact from health care trend rates are reported in Other income (expense), net. These estimates are updated in the fourth quarter to reflect actual return on plan assets and updated actuarial assumptions or upon a remeasurement. The adjustment is recognized in the income statement during the fourth quarter or upon a remeasurement event pursuant to our accounting policy for the recognition of actuarial gains and losses. Pension and Other Postretirement Benefits Pension and other postretirement benefits for certain employees are subject to collective bargaining agreements. Modifications in benefits have been bargained from time to time, and we may also periodically amend the benefits in the management plans. The following tables summarize benefit costs, as well as the benefit obligations, plan assets, funded status and rate assumptions associated with pension and postretirement health care and life insurance benefit plans. Obligations and Funded Status (dollars in millions) Pension Health Care and Life At December 31, 2019 2018 2019 2018 Change in Benefit Obligations Beginning of year $ 19,567 $ 21,531 $ 16,364 $ 19,460 Service cost 247 284 96 127 Interest cost 695 690 629 615 Plan amendments — 230 (22 ) (8 ) Actuarial (gain) loss, net 2,860 (1,418 ) (414 ) (2,729 ) Benefits paid (1,248 ) (1,475 ) (984 ) (1,101 ) Curtailment and termination benefits — 181 — — Settlements paid (873 ) (456 ) — — End of year 21,248 19,567 15,669 16,364 Change in Plan Assets Beginning of year 17,816 19,175 1,175 1,119 Actual return on plan assets 3,385 (494 ) 103 (26 ) Company contributions 371 1,066 449 1,183 Benefits paid (1,248 ) (1,475 ) (984 ) (1,101 ) Settlements paid (873 ) (456 ) — — End of year 19,451 17,816 743 1,175 Funded Status End of year $ (1,797 ) $ (1,751 ) $ (14,926 ) $ (15,189 ) (dollars in millions) Pension Health Care and Life At December 31, 2019 2018 2019 2018 Amounts recognized on the balance sheet Noncurrent assets $ 5 $ 3 $ — $ — Current liabilities (67 ) (71 ) (603 ) (292 ) Noncurrent liabilities (1,735 ) (1,683 ) (14,323 ) (14,897 ) Total $ (1,797 ) $ (1,751 ) $ (14,926 ) $ (15,189 ) Amounts recognized in Accumulated Other Comprehensive Income (Pre-tax) Prior service cost (benefit) $ 524 $ 585 $ (3,749 ) $ (4,698 ) Total $ 524 $ 585 $ (3,749 ) $ (4,698 ) The accumulated benefit obligation for all defined benefit pension plans was $21.2 billion and $19.5 billion at December 31, 2019 and 2018 , respectively. 2018 Collective Bargaining Negotiations The extension agreement ratified in August 2018 extended our collective bargaining agreements with the Communications Workers of America and the International Brotherhood of Electrical Workers that were due to expire on August 3, 2019 for four years until August 5, 2023. Amendments triggered by the collective bargaining negotiations were made to certain pension plans for certain union-represented employees and retirees. The impact of the plan amendments was an increase in our defined benefit pension plans plan obligations and a net decrease to Accumulated other comprehensive income of $230 million (net of taxes of $170 million ). The annual impact of the amount recorded in Accumulated other comprehensive income that will be reclassified to net periodic benefit cost is insignificant. 2017 Postretirement Plan Amendments During 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 $527 million , which has been recorded as a net increase to Accumulated other comprehensive income of $317 million (net of taxes of $210 million ). The impact of the amount recorded in Accumulated other comprehensive income that will be reclassified to net periodic benefit cost is insignificant. 2016 Collective Bargaining Negotiations During 2016, we adopted changes to our defined benefit pension plans and other postretirement benefit plans to reflect the agreed upon terms and conditions of the collective bargaining agreements ratified in June 2016. The impact includes a net increase to Accumulated other comprehensive income of $2.9 billion (net of taxes of $1.8 billion ). The amount recorded in Accumulated other comprehensive income will be reclassified to net periodic benefit cost on a straight-line basis over the average remaining service period of the respective plans’ participants, which, on a weighted-average basis, is 12.2 years for defined benefit pension plans and 7.8 years for other postretirement benefit plans. The above-noted reclassification resulted in a decrease to net periodic benefit cost and increase to pre-tax income of approximately $658 million during 2019, 2018 and 2017, respectively. Information for pension plans with an accumulated benefit obligation in excess of plan assets follows: (dollars in millions) At December 31, 2019 2018 Projected benefit obligation $ 21,190 $ 19,510 Accumulated benefit obligation 21,134 19,461 Fair value of plan assets 19,388 17,757 Net Periodic Benefit Cost (Income) The following table summarizes the components of net periodic benefit cost (income) related to our pension and postretirement health care and life insurance plans: (dollars in millions) Pension Health Care and Life Years Ended December 31, 2019 2018 2017 2019 2018 2017 Service cost - Cost of services $ 202 $ 230 $ 215 $ 78 $ 104 $ 116 Service cost - Selling, general and administrative expense 45 54 65 18 23 33 Service cost 247 284 280 96 127 149 Amortization of prior service cost (credit) 61 48 39 (971 ) (976 ) (949 ) Expected return on plan assets (1,130 ) (1,293 ) (1,262 ) (37 ) (44 ) (53 ) Interest cost 695 690 683 629 615 659 Remeasurement loss (gain), net 606 369 337 (480 ) (2,658 ) 546 Curtailment and termination benefits — 181 11 — — — Other components 232 (5 ) (192 ) (859 ) (3,063 ) 203 Total $ 479 $ 279 $ 88 $ (763 ) $ (2,936 ) $ 352 The service cost component of net periodic benefit cost (income) is recorded in Cost of services and Selling, general and administrative expense in the consolidated statements of income while the other components, including mark-to-market adjustments, if any, are recorded in Other income (expense), net . Other pre-tax changes in plan assets and benefit obligations recognized in other comprehensive (income) loss are as follows: (dollars in millions) Pension Health Care and Life At December 31, 2019 2018 2017 2019 2018 2017 Prior service cost (benefit) $ — $ 230 $ — $ (22 ) $ (8 ) $ (544 ) Reversal of amortization items Prior service cost (benefit) (61 ) (48 ) (39 ) 971 976 949 Total recognized in other comprehensive loss (income) (pre-tax) $ (61 ) $ 182 $ (39 ) $ 949 $ 968 $ 405 The estimated prior service cost for the defined benefit pension plans that will be amortized from Accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is $61 million . The estimated prior service cost for the defined benefit postretirement plans that will be amortized from Accumulated other comprehensive income into net periodic benefit income over the next fiscal year is $1.0 billion . Assumptions The weighted-average assumptions used in determining benefit obligations follow: Pension Health Care and Life At December 31, 2019 2018 2019 2018 Discount Rate 3.30 % 4.40 % 3.20 % 4.30 % Rate of compensation increases 3.00 3.00 N/A N/A The weighted-average assumptions used in determining net periodic cost follow: Pension Health Care and Life At December 31, 2019 2018 2017 2019 2018 2017 Discount rate in effect for determining service cost 4.60 % 4.10 % 4.70 % 4.60 % 3.90 % 4.60 % Discount rate in effect for determining interest cost 3.80 3.40 3.40 4.00 3.20 3.50 Expected return on plan assets 6.80 7.00 7.70 4.30 4.80 4.50 Rate of compensation increases 3.00 3.00 3.00 N/A N/A N/A In determining our pension and other postretirement benefit obligations, we used a weighted-average discount rate of 3.3% in 2019 . The rates were selected to approximate the composite interest rates available on a selection of high-quality bonds available in the market at December 31, 2019 . The bonds selected had maturities that coincided with the time periods during which benefits payments are expected to occur, were non-callable and available in sufficient quantities to ensure marketability (at least $300 million par outstanding). In order to project the long-term target investment return for the total portfolio, estimates are prepared for the total return of each major asset class over the subsequent 10 -year period. Those estimates are based on a combination of factors including the current market interest rates and valuation levels, consensus earnings expectations and historical long-term risk premiums. To determine the aggregate return for the pension trust, the projected return of each individual asset class is then weighted according to the allocation to that investment area in the trust’s long-term asset allocation policy. The assumed health care cost trend rates are as follows: Health Care and Life At December 31, 2019 2018 2017 Healthcare cost trend rate assumed for next year 6.10 % 6.30 % 7.00 % Rate to which cost trend rate gradually declines 4.50 4.50 4.50 Year the rate reaches the level it is assumed to remain thereafter 2027 2027 2026 A one-percentage point change in the assumed health care cost trend rate would have the following effects: (dollars in millions) One-Percentage Point Increase Decrease Effect on 2019 service and interest cost $ 20 $ (21 ) Effect on postretirement benefit obligation as of December 31, 2019 626 (696 ) Plan Assets The Company’s overall investment strategy is to achieve a mix of assets that allows us to meet projected benefit payments while taking into consideration risk and return. While target allocation percentages will vary over time, the current target allocation for plan assets is designed so that 48% to 68% of the assets have the objective of achieving a return in excess of the growth in liabilities (comprised of public equities, private equities, real estate, hedge funds and emerging debt) and 35% to 55% of the assets are invested as liability hedging assets (where cash flows from investments better match projected benefit payments, typically longer duration fixed income) and a maximum of 15% is in cash. This allocation will shift as funded status improves to a higher allocation of liability hedging assets. Target policies will be revisited periodically to ensure they are in line with fund objectives. Both active and passive management approaches are used depending on perceived market efficiencies and various other factors. Due to our diversification and risk control processes, there are no significant concentrations of risk, in terms of sector, industry, geography or company names. Pension and healthcare and life plans assets do not include significant amounts of Verizon common stock. Pension Plans The fair values for the pension plans by asset category at December 31, 2019 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,529 $ 1,507 $ 22 $ — Equity securities 2,988 2,850 135 3 Fixed income securities U.S. Treasuries and agencies 1,986 1,768 218 — Corporate bonds 3,818 524 3,149 145 International bonds 1,355 25 1,304 26 Other 768 — 768 — Real estate 810 — — 810 Other Private equity 737 — — 737 Hedge funds 293 — 164 129 Total investments at fair value 14,284 6,674 5,760 1,850 Investments measured at NAV 5,167 Total $ 19,451 $ 6,674 $ 5,760 $ 1,850 The fair values for the pension plans by asset category at December 31, 2018 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,701 $ 1,694 $ 7 $ — Equity securities 2,253 2,220 20 13 Fixed income securities U.S. Treasuries and agencies 1,684 1,557 127 — Corporate bonds 3,645 124 3,244 277 International bonds 1,113 19 1,076 18 Other — — — — Real estate 727 — — 727 Other Private equity 664 — — 664 Hedge funds 459 — 373 86 Total investments at fair value 12,246 5,614 4,847 1,785 Investments measured at NAV 5,570 Total $ 17,816 $ 5,614 $ 4,847 $ 1,785 The following is a reconciliation of the beginning and ending balance of pension plan assets that are measured at fair value using significant unobservable inputs: (dollars in millions) Equity Securities Corporate Bonds International Bonds Real Estate Private Equity Hedge Funds Total Balance at January 1, 2018 $ 1 $ 104 $ 20 $ 627 $ 580 $ 185 $ 1,517 Actual gain (loss) on plan assets 1 (7 ) 3 134 25 — 156 Purchases (sales) 11 177 (5 ) (34 ) 59 62 270 Transfers out — 3 — — — (161 ) (158 ) Balance at December 31, 2018 13 277 18 727 664 86 1,785 Actual gain (loss) on plan assets 1 (1 ) (1 ) 30 32 — 61 Purchases (sales) (11 ) 18 9 53 41 116 226 Transfers out — (149 ) — — — (73 ) (222 ) Balance at December 31, 2019 $ 3 $ 145 $ 26 $ 810 $ 737 $ 129 $ 1,850 Health Care and Life Plans The fair values for the other postretirement benefit plans by asset category at December 31, 2019 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 220 $ 167 $ 53 $ — Equity securities 225 225 — — Fixed income securities U.S. Treasuries and agencies 28 28 — — Corporate bonds 76 76 — — International bonds 18 18 — — Total investments at fair value 567 514 53 — Investments measured at NAV 176 Total $ 743 $ 514 $ 53 $ — The fair values for the other postretirement benefit plans by asset category at December 31, 2018 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 471 $ 431 $ 40 $ — Equity securities 239 239 — — Fixed income securities U.S. Treasuries and agencies 24 24 — — Corporate bonds 96 96 — — International bonds 18 18 — — Total investments at fair value 848 808 40 — Investments measured at NAV 327 Total $ 1,175 $ 808 $ 40 $ — The following are general descriptions of asset categories, as well as the valuation methodologies and inputs used to determine the fair value of each major category of assets. Cash and cash equivalents include short-term investment funds (less than 90 days to maturity), primarily in diversified portfolios of investment grade money market instruments and are valued using quoted market prices or other valuation methods. The carrying value of cash equivalents approximates fair value due to the short-term nature of these investments. Investments in securities traded on national and foreign securities exchanges are valued by the trustee at the last reported sale prices on the last business day of the year or, if no sales were reported on that date, at the last reported bid prices. Government obligations, corporate bonds, international bonds and asset-backed debt are valued using matrix prices with input from independent third-party valuation sources. Over-the-counter securities are valued at the bid prices or the average of the bid and ask prices on the last business day of the year from published sources or, if not available, from other sources considered reliable such as multiple broker quotes. Commingled funds not traded on national exchanges are priced by the custodian or fund's administrator at their net asset value (NAV). Commingled funds held by third-party custodians appointed by the fund managers provide the fund managers with a NAV. The fund managers have the responsibility for providing this information to the custodian of the respective plan. The investment manager of the entity values venture capital, corporate finance and natural resource limited partnership investments. Real estate investments are valued at amounts based upon appraisal reports prepared by either independent real estate appraisers or the investment manager using discounted cash flows or market comparable data. Loans secured by mortgages are carried at the lesser of the unpaid balance or appraised value of the underlying properties. The values assigned to these investments are based upon available and current market information and do not necessarily represent amounts that might ultimately be realized. Because of the inherent uncertainty of valuation, estimated fair values might differ significantly from the values that would have been used had a ready market for the securities existed. These differences could be material. Forward currency contracts, futures, and options are valued by the trustee at the exchange rates and market prices prevailing on the last business day of the year. Both exchange rates and market prices are readily available from published sources. These securities are classified by the asset class of the underlying holdings. Hedge funds are valued by the custodian at NAV based on statements received from the investment manager. These funds are valued in accordance with the terms of their corresponding offering or private placement memoranda. Commingled funds, hedge funds, venture capital, corporate finance, natural resource and real estate limited partnership investments for which fair value is measured using the NAV per share as a practical expedient are not leveled within the fair value hierarchy and are included as a reconciling item to total investments. Employer Contributions In 2019 , we made a $300 million discretionary contribution to our qualified pension plans, $71 million of contributions to our nonqualified pension plans and $449 million of contributions to our other postretirement benefit plans. No qualified pension plans contributions are expected to be made in 2020. Nonqualified pension plans contributions are estimated to be approximately $70 million and contributions to our other postretirement benefit plans are estimated to be approximately $700 million in 2020 . Estimated Future Benefit Payments The benefit payments to retirees are expected to be paid as follows: (dollars in millions) Year Pension Benefits Health Care and Life 2020 $ 2,227 $ 961 2021 1,680 947 2022 1,620 930 2023 1,577 968 2024 1,072 951 2025 to 2029 5,248 4,569 Savings Plan and Employee Stock Ownership Plans We maintain four leveraged employee stock ownership plans (ESOP). We match a certain percentage of eligible employee contributions to certain savings plans with shares of our common stock from this ESOP. At December 31, 2019 , the number of allocated shares of common stock in this ESOP was 49 million . There were no unallocated shares of common stock in this ESOP at December 31, 2019 . All leveraged ESOP shares are included in earnings per share computations. Total savings plan costs were $897 million in 2019 , $1.1 billion in 2018 and $838 million in 2017 . Severance Benefits The following table provides an analysis of our severance liability: (dollars in millions) Year Beginning of Year Charged to Expense Payments Other End of Year 2017 $ 656 $ 581 $ (564 ) $ (46 ) $ 627 2018 627 2,093 (560 ) (4 ) 2,156 2019 2,156 260 (1,847 ) (4 ) 565 Severance, Pension and Benefits (Credits) Charges During 2019 , in accordance with our accounting policy to recognize actuarial gains and losses in the period in which they occur, we recorded net pre-tax pension and benefits charges of $126 million in our pension and postretirement benefit plans. The charges were recorded in Other income (expense), net in our consolidated statement of income and were primarily driven by a decrease in our discount rate assumption used to determine the current year liabilities of our pension plans and postretirement benefit plans from a weighted-average of 4.4% at December 31, 2018 to a weighted-average of 3.3% at December 31, 2019 ( $4.3 billion ), partially offset by the difference between our estimated return on assets and our actual return on assets ( $2.3 billion ) and other assumption adjustments of $1.9 billion , of which $1.6 billion related to healthcare claims experience. During 2019, we also recorded net pre-tax severance charges of $260 million in Selling, general and administrative expense in our consolidated statements of income. During 2018, we recorded net pre-tax pension and benefits credits of $2.1 billion in accordance with our accounting policy to recognize actuarial gains and losses in the period in which they occur. The pension and benefits remeasurement credits of $2.3 billion , which were recorded in Other income (expense), net in our consolidated statements of income, were primarily driven by an increase in our discount rate assumption used to determine the current year liabilities of our pension plans and postretirement benefit plans from a weighted-average of 3.7% at December 31, 2017 to a weighted-average of 4.4% at December 31, 2018 ( $2.6 billion ), and mortality and other assumption adjustments of $1.7 billion , $1.6 billion of which related to healthcare claims and trend adjustments, offset by the difference between our estimated return on assets of 7.0% and our actual return on assets of (2.7)% ( $1.9 billion ). The credits were partially offset by $177 million due to the effect of participants retiring under the Voluntary Separation Program. In September 2018, Verizon announced a Voluntary Separation Program for select U.S.-based management employees. Approximately 10,400 eligible employees separated from the Company under this program as of the end of June 2019. The severance benefit payments to these employees were substantially completed by the end of September 2019. Principally as a result of this program but also as a result of other headcount reduction initiatives, the Company recorded a severance charge of $1.8 billion ( $1.4 billion after-tax) during the year ended December 31, 2018, which was recorded in Selling, general and administrative expense in our consolidated statement of income. During 2018, we also recorded $339 million in severance costs under our other existing separation plans. During 2017, we recorded net pre-tax severance, pension and benefits charges of $1.4 billion , exclusive of acquisition related severance charges, in accordance with our accounting policy to recognize actuarial gains and losses in the period in which they occur. The pension and benefits remeasurement charges of approximately $911 million , which were recorded in Other income (expense), net in our consolidated statements of income, were primarily driven by a decrease in our discount rate assumption used to determine the current year liabilities of our pension and postretirement benefit plans from a weighted-average of 4.2% at December 31, 2016 to a weighted-average of 3.7% at December 31, 2017 ( $2.6 billion ). The charges were partially offset by the difference between our estimated return on assets of 7.0% and our actual return on assets of 14.0% ( $1.2 billion ), a change in mortality assumptions primarily driven by the use of updated actuarial tables (MP-2017) issued by the Society of Actuaries ( $227 million ) and other assumption adjustments ( $320 million ). As part of these charges, we also recorded severance costs of $497 million under our existing separation plans, which were recorded in Selling, general and administrative expense in our consolidated statement of income.

Taxes

Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Taxes	Note 12. Taxes The components of income before provision (benefit) for income taxes are as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Domestic $ 21,655 $ 19,801 $ 19,645 Foreign 1,078 (178 ) 949 Total $ 22,733 $ 19,623 $ 20,594 The components of the provision (benefit) for income taxes are as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Current Federal $ 518 $ 2,187 $ 3,630 Foreign 221 267 200 State and Local 974 741 677 Total 1,713 3,195 4,507 Deferred Federal 1,150 175 (14,360 ) Foreign (13 ) 30 (66 ) State and Local 95 184 (37 ) Total 1,232 389 (14,463 ) Total income tax provision (benefit) $ 2,945 $ 3,584 $ (9,956 ) The following table shows the principal reasons for the difference between the effective income tax rate and the statutory federal income tax rate: Years Ended December 31, 2019 2018 2017 Statutory federal income tax rate 21.0 % 21.0 % 35.0 % State and local income tax rate, net of federal tax benefits 3.7 3.7 1.6 Preferred stock disposition (9.9 ) — — Affordable housing credit (0.4 ) (0.6 ) (0.6 ) Employee benefits including ESOP dividend (0.3 ) (0.3 ) (0.5 ) Impact of tax reform re-measurement — — (81.6 ) Internal restructure — (9.1 ) (0.6 ) Noncontrolling interests (0.5 ) (0.5 ) (0.6 ) Non-deductible goodwill 0.1 4.7 1.0 Other, net (0.7 ) (0.6 ) (2.0 ) Effective income tax rate 13.0 % 18.3 % (48.3 )% The effective income tax rate for 2019 was 13.0% compared to 18.3% for 2018 . The decrease in the effective income tax rate and the provision for income taxes was primarily due to the recognition of approximately $2.2 billion of a non-recurring tax benefit in connection with the disposition of preferred stock, representing a minority interest in a foreign affiliate in 2019 compared to the non-recurring deferred tax benefit of approximately $2.1 billion , as a result of an internal reorganization of legal entities within the historical Wireless business, which was offset by a goodwill charge that is not deductible for tax purposes in 2018. The effective income tax rate for 2018 was 18.3% compared to (48.3)% for 2017 . The increase in the effective income tax rate and the provision for income taxes was primarily due to the non-recurring, non-cash income tax benefit of $16.8 billion recorded in 2017 for the re-measurement of U.S. deferred tax liabilities at the lower 21% U.S. federal corporate income tax rate, as a result of the enactment of the TCJA on December 22, 2017. In addition, the provision for income taxes for 2018 includes the tax impact of the Media goodwill impairment charge not deductible for tax purposes, offset by the reduction in the statutory U.S federal corporate income tax rate from 35% to 21% , effective January 1, 2018 under the TCJA and a non-recurring deferred tax benefit of approximately $2.1 billion as a result of an internal reorganization of legal entities within the historical Wireless business. In December 2017, the Securities and Exchange Commission staff issued Staff Accounting Bulletin (SAB) 118 to provide guidance for companies that had not completed their accounting for the income tax effects of the TCJA. Due to the complexities involved in accounting for the enactment of the TCJA, SAB 118 allowed for a provisional estimate of the impacts of the TCJA in our earnings for the year ended December 31, 2017 , as well as up to a one year measurement period that ended on December 22, 2018, for any subsequent adjustments to such provisional estimate. In 2018, Verizon completed its analysis of the impacts of the TCJA , including analyzing the effects of any IRS and U.S. Treasury guidance issued , and state tax law changes enacted, within the one year measurement period resulting in no significant adjustments to the $16.8 billion provisional amount recorded in December 2017 . The amounts of cash taxes paid by Verizon are as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Income taxes, net of amounts refunded $ 3,583 $ 2,213 $ 4,432 Employment taxes 1,044 1,066 1,207 Property and other taxes 1,551 1,598 1,737 Total $ 6,178 $ 4,877 $ 7,376 Deferred Tax Assets and Liabilities Deferred taxes arise because of differences in the book and tax bases of certain assets and liabilities. Significant components of deferred tax assets and liabilities are as follows: (dollars in millions) At December 31, 2019 2018 Deferred Tax Assets Employee benefits $ 5,048 $ 5,403 Tax loss and credit carry forwards 3,012 3,576 Other - assets 5,595 1,650 13,655 10,629 Valuation allowances (2,260 ) (2,741 ) Deferred tax assets 11,395 7,888 Deferred Tax Liabilities Spectrum and other intangible amortization 22,388 21,976 Depreciation 16,884 15,662 Other - liabilities 6,742 3,976 Deferred tax liabilities 46,014 41,614 Net deferred tax liability $ 34,619 $ 33,726 At December 31, 2019 , undistributed earnings of our foreign subsidiaries indefinitely invested outside the U.S. amounted to approximately $3.8 billion . The majority of Verizon's cash flow is generated from domestic operations and we are not dependent on foreign cash or earnings to meet our funding requirements, nor do we intend to repatriate these undistributed foreign earnings to fund U.S. operations. Furthermore, a portion of these undistributed earnings represents amounts that legally must be kept in reserve in accordance with certain foreign jurisdictional requirements and are unavailable for distribution or repatriation. As a result, we have not provided U.S. deferred taxes on these undistributed earnings because we intend that they will remain indefinitely reinvested outside of the U.S. and therefore unavailable for use in funding U.S. operations. Determination of the amount of unrecognized deferred taxes related to these undistributed earnings is not practicable. At December 31, 2019 , we had net after-tax loss and credit carry forwards for income tax purposes of approximately $3.0 billion that primarily relate to state and foreign taxes. Of these net after-tax loss and credit carry forwards, approximately $2.0 billion will expire between 2020 and 2039 and approximately $1.0 billion may be carried forward indefinitely. During 2019 , the valuation allowance decreased approximately $481 million . The balance of the valuation allowance at December 31, 2019 and the 2019 activity is primarily related to state and foreign taxes. Unrecognized Tax Benefits A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows: (dollars in millions) 2019 2018 2017 Balance at January 1, $ 2,871 $ 2,355 $ 1,902 Additions based on tax positions related to the current year 149 160 219 Additions for tax positions of prior years 297 699 756 Reductions for tax positions of prior years (300 ) (248 ) (419 ) Settlements (58 ) (40 ) (42 ) Lapses of statutes of limitations (89 ) (55 ) (61 ) Balance at December 31, $ 2,870 $ 2,871 $ 2,355 Included in the total unrecognized tax benefits at December 31, 2019 , 2018 and 2017 is $2.4 billion , $2.3 billion and $1.9 billion , respectively, that if recognized, would favorably affect the effective income tax rate. We recognized the following net after-tax expenses related to interest and penalties in the provision for income taxes: Years Ended December 31, (dollars in millions) 2019 $ 35 2018 75 2017 77 The after-tax accruals for the payment of interest and penalties in the consolidated balance sheets are as follows: At December 31, (dollars in millions) 2019 $ 385 2018 348 Verizon and/or its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state, local and foreign jurisdictions. As a large taxpayer, we are under audit by the IRS and multiple state and foreign jurisdictions for various open tax years. The IRS is currently examining the Company’s U.S. income tax returns for tax years 2013-2014 and Cellco Partnership's U.S. income tax return for tax year 2013-2014. Tax controversies are ongoing for tax years as early as 2005. The amount of the liability for unrecognized tax benefits will change in the next twelve months due to the expiration of the statute of limitations in various jurisdictions and it is reasonably possible that various current tax examinations will conclude or require reevaluations of the Company’s tax positions during this period. An estimate of the range of the possible change cannot be made until these tax matters are further developed or resolved.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Information	Note 13. Segment Information Reportable Segments As discussed in Note 1, in November 2018, we announced a strategic reorganization of our business. Under the new structure, effective April 1, 2019, there are two reportable segments that we operate and manage as strategic business units - Consumer and Business . 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 Verizon Consumer Group Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the United States under the Verizon brand and through wholesale and other arrangements. Our wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over our 100% fiber-optic network under the Fios brand and over a traditional copper-based network to customers who are not served by Fios. Verizon Business Group Our Business segment provides wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various IoT services and products. We provide these products and services to businesses, government customers and wireless and wireline carriers across the U.S. and select products and services to customers around the world. Our Consumer segment's wireless and wireline products and services are available to our retail customers, as well as resellers that purchase wireless network access from us on a wholesale basis. Our Business segment’s wireless and wireline products and services are organized by the primary customer groups targeted by these offerings: Global Enterprise, Small and Medium Business, Public Sector and Other, and Wholesale. Corporate and other includes the results of our media business,Verizon Media, and other businesses, investments in unconsolidated businesses, unallocated corporate expenses, certain pension and other employee benefit related costs and interest and financing expenses. 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 from these transactions that are not individually significant are included in 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 and as such results are included since the acquisition date. In May 2017, we completed the Data Center Sale, where we sold 23 customer-facing data center sites in the U.S. and Latin America to Equinix. The results of operations for this divestiture and other insignificant transactions are 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. The reconciliation of segment operating revenues and expenses to consolidated operating revenues and expenses below includes the effects of special items that the chief operating decision maker does not consider in assessing segment performance, primarily because of their nature. The following tables provides operating financial information for our two reportable segments: (dollars in millions) 2019 Consumer Business Total Reportable Segments External Operating Revenues Service $ 65,384 $ — $ 65,384 Wireless equipment 18,048 — 18,048 Other 7,384 — 7,384 Global Enterprise — 10,815 10,815 Small and Medium Business — 11,447 11,447 Public Sector and Other — 5,922 5,922 Wholesale — 3,198 3,198 Intersegment revenues 240 61 301 Total Operating Revenues (1) 91,056 31,443 122,499 Cost of services 15,884 10,655 26,539 Cost of wireless equipment 18,219 4,733 22,952 Selling, general and administrative expense 16,639 8,188 24,827 Depreciation and amortization expense 11,353 4,105 15,458 Total Operating Expenses 62,095 27,681 89,776 Operating Income $ 28,961 $ 3,762 $ 32,723 (1) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $27.9 billion and $3.5 billion , respectively, for the year ended December 31, 2019 . (dollars in millions) 2018 Consumer Business Total Reportable Segments External Operating Revenues Service $ 64,207 $ — $ 64,207 Wireless equipment 18,874 — 18,874 Other 6,447 — 6,447 Global Enterprise — 11,197 11,197 Small and Medium Business — 10,732 10,732 Public Sector and Other — 5,830 5,830 Wholesale — 3,713 3,713 Intersegment revenues 234 62 296 Total Operating Revenues (1) 89,762 31,534 121,296 Cost of services 15,335 10,859 26,194 Cost of wireless equipment 18,763 4,560 23,323 Selling, general and administrative expense 15,701 7,689 23,390 Depreciation and amortization expense 11,952 4,258 16,210 Total Operating Expenses 61,751 27,366 89,117 Operating Income $ 28,011 $ 4,168 $ 32,179 (1) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $28.1 billion and $3.4 billion , respectively, for the year ended December 31, 2018 . (dollars in millions) 2017 Consumer Business Total Reportable Segments External Operating Revenues Service $ 63,769 $ — $ 63,769 Wireless equipment 17,292 — 17,292 Other 5,735 — 5,735 Global Enterprise — 11,444 11,444 Small and Medium Business — 9,793 9,793 Public Sector and Other — 5,652 5,652 Wholesale — 3,978 3,978 Intersegment revenues 258 46 304 Total Operating Revenues (1) 87,054 30,913 117,967 Cost of services 14,981 11,094 26,075 Cost of wireless equipment 17,713 4,434 22,147 Selling, general and administrative expense 17,292 7,448 24,740 Depreciation and amortization expense 11,308 4,483 15,791 Total Operating Expenses 61,294 27,459 88,753 Operating Income $ 25,760 $ 3,454 $ 29,214 (1) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $29.3 billion and $1.6 billion , respectively, for the year ended December 31, 2017 . The following table provides Fios revenues for our two reportable segments: (dollars in millions) Years Ended December 31, 2019 2018 2017 Consumer $ 11,175 $ 11,056 $ 10,903 Business 967 883 788 Total Fios revenue $ 12,142 $ 11,939 $ 11,691 The following table provides Wireless service revenue for our reportable segments and includes intersegment activity: (dollars in millions) Years Ended December 31, 2019 2018 2017 Consumer $ 53,791 $ 52,459 $ 51,954 Business 11,188 10,484 11,093 Total Wireless service revenue $ 64,979 $ 62,943 $ 63,047 Reconciliation to Consolidated Financial Information A reconciliation of the reportable segment operating revenues to consolidated operating revenues is as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Operating Revenues Total reportable segments $ 122,499 $ 121,296 $ 117,967 Corporate and other 9,812 9,936 8,098 Reconciling items: Operating results from divested businesses (Note 3) — — 368 Eliminations (443 ) (369 ) (399 ) Consolidated Operating Revenues $ 131,868 $ 130,863 $ 126,034 A reconciliation of the total reportable segments’ operating income to consolidated income before provision for income taxes is as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Operating Income Total reportable segments $ 32,723 $ 32,179 $ 29,214 Corporate and other (1,403 ) (1,326 ) (1,119 ) Reconciling items: Severance charges (204 ) (2,157 ) (497 ) Other components of net periodic pension and benefit (charges) credits (Note 11 ) (813 ) (823 ) (800 ) Net gain on sale of divested businesses (Note 3) — — 1,774 Acquisition and integration related charges (Note 3) — (553 ) (884 ) Gain on spectrum license transactions (Note 3) — — 270 Operating results from divested businesses — — 149 Impairment charges (186 ) (4,591 ) — Product realignment charges — (451 ) (682 ) Net gain from dispositions of assets and businesses 261 — — Consolidated operating income 30,378 22,278 27,425 Equity in losses of unconsolidated businesses (15 ) (186 ) (77 ) Other income (expense), net (2,900 ) 2,364 (2,021 ) Interest expense (4,730 ) (4,833 ) (4,733 ) Income Before (Provision) Benefit For Income Taxes $ 22,733 $ 19,623 $ 20,594 No single customer accounted for more than 10% of our total operating revenues during the years ended December 31, 2019 , 2018 and 2017 . International operating revenues are not significant. The chief operating decision maker does not review disaggregated assets on a segment basis; therefore, such information is not presented. Depreciation included in the measure of segment profitability is primarily allocated based on proportional usage.

Equity and Comprehensive Income

Equity and Comprehensive Income	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Equity and Comprehensive Income	Note 14. Equity and Comprehensive Income Equity In December 2019, 46,100 preferred shares of a foreign affiliate of Verizon was sold for cash consideration of $51 million and is reflected in non-controlling interests. The preferred shares pay cumulative dividends of 8.25% per annum. Common Stock In February 2020, the Verizon Board of Directors authorized a share buyback program to repurchase up to 100 million shares of the Company's common stock. The program will terminate when the aggregate number of shares purchased reaches 100 million , or a new share repurchase plan superseding the current plan is authorized, whichever is sooner. During the years ended December 31, 2019 , 2018 , and 2017 , Verizon did no t repurchase any shares of Verizon’s common stock under our previously authorized share buyback programs. At December 31, 2019 , the maximum number of shares that could be purchased by or on behalf of Verizon under our share buyback program was 100 million . Common stock has been used from time to time to satisfy some of the funding requirements of employee and shareholder plans. During the years ended December 31, 2019 , 2018 , and 2017 , we issued 3.8 million , 3.5 million and 2.8 million common shares from Treasury stock, respectively, which had an insignificant aggregate value. In connection with our acquisition of Straight Path in February 2018, we issued approximately 49 million shares of Verizon common stock, valued at approximately $2.4 billion . Accumulated Other Comprehensive Income Comprehensive income consists of net income and other gains and losses affecting equity that, under U.S. GAAP, are excluded from net income. Significant changes in the components of Other comprehensive income, net of provision for income taxes are described below. The changes in the balances of Accumulated other comprehensive income by component are as follows: (dollars in millions) Foreign currency translation adjustments Unrealized gains (losses) on cash flow hedges Unrealized gains (losses) 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 245 818 10 327 1,400 Amounts reclassified to net income — (849 ) (24 ) (541 ) (1,414 ) Net other comprehensive income (loss) 245 (31 ) (14 ) (214 ) (14 ) Balance at December 31, 2017 (468 ) (111 ) 32 3,206 2,659 Opening balance sheet adjustment (Note 1) (15 ) (24 ) (13 ) 682 630 Adjusted opening balance (483 ) (135 ) 19 3,888 3,289 Other comprehensive income (loss) (117 ) (574 ) — (164 ) (855 ) Amounts reclassified to net income — 629 1 (694 ) (64 ) Net other comprehensive income (loss) (117 ) 55 1 (858 ) (919 ) Balance at December 31, 2018 (600 ) (80 ) 20 3,030 2,370 Other comprehensive income (loss) 16 (699 ) 8 — (675 ) Amounts reclassified to net income — (37 ) (1 ) (659 ) (697 ) Net other comprehensive income (loss) 16 (736 ) 7 (659 ) (1,372 ) Balance at December 31, 2019 $ (584 ) $ (816 ) $ 27 $ 2,371 $ 998 The amounts presented above in net other comprehensive income (loss) are net of taxes. The amounts reclassified to net income related to unrealized gains (losses) on cash flow hedges in the table above are included in Other income (expense), net and Interest expense in our consolidated statements of income. See Note 9 for additional information. The amounts reclassified to net income related to unrealized gains (losses) on marketable securities in the table above are included in Other income (expense), net in our 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 in our consolidated statements of income. See Note 11 for additional information.

Additional Financial Informatio

Additional Financial Information	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Information	Note 15. Additional Financial Information The following tables provide additional financial information related to our consolidated financial statements: Income Statement Information (dollars in millions) Years Ended December 31, 2019 2018 2017 Depreciation expense $ 14,371 $ 15,186 $ 14,741 Interest costs on debt balances 5,221 5,399 5,256 Net amortization of debt discount 165 174 155 Capitalized interest costs (656 ) (740 ) (678 ) Advertising expense 3,071 2,682 2,643 Other income (expense), net Interest income $ 121 $ 94 $ 82 Other components of net periodic benefit (cost) income 627 3,068 (11 ) Early debt extinguishment costs (3,604 ) (725 ) (1,983 ) Other, net (44 ) (73 ) (109 ) $ (2,900 ) $ 2,364 $ (2,021 ) Balance Sheet Information (dollars in millions) At December 31, 2019 2018 Prepaid expenses and other Prepaid taxes $ 2,438 $ 348 Deferred contract costs 2,578 2,083 Restricted cash 1,221 1,047 Other prepaid expense and other 1,791 1,975 $ 8,028 $ 5,453 Accounts payable and accrued liabilities Accounts payable $ 7,725 $ 7,232 Accrued expenses 5,984 5,948 Accrued vacation, salaries and wages 4,885 6,268 Interest payable 1,441 1,570 Taxes payable 1,771 1,483 $ 21,806 $ 22,501 Other current liabilities Dividends payable $ 2,566 $ 2,512 Contract liability 4,651 4,207 Other 1,807 1,520 $ 9,024 $ 8,239 Cash Flow Information (dollars in millions) Years Ended December 31, 2019 2018 2017 Cash Paid Interest, net of amounts capitalized $ 4,714 $ 4,408 $ 4,369 Income taxes, net of amounts refunded 3,583 2,213 4,432 Other, net Cash Flows from Operating Activities Changes in device payment plan agreement non-current receivables $ 23 $ (509 ) $ (579 ) Early debt extinguishment costs 3,604 725 1,983 Other, net (228 ) 3 (728 ) $ 3,399 $ 219 $ 676 Other, net Cash Flows from Financing Activities Net debt related costs $ (1,797 ) $ (141 ) $ (3,599 ) Change in short-term obligations, excluding current maturities — (790 ) (170 ) Other, net (1,120 ) (893 ) (670 ) $ (2,917 ) $ (1,824 ) $ (4,439 )

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 16. 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 material. 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 will have a material effect on our financial condition, but it could have a material effect on our results of operations for a given reporting period. Verizon is currently involved in approximately 25 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 could 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. As of December 31, 2019 , letters of credit totaling approximately $632 million , which were executed in the normal course of business and support several financing arrangements and payment obligations to third parties, were outstanding. During 2019, Verizon entered into a renewable energy purchase agreement (REPA) with a third party. The REPA is based on the expected operation of a renewable energy-generating facility and has a fixed price term of 12 years from the commencement of the facility's entry into commercial operation, which is expected to begin by the end of 2020. The REPA generally is expected to be financially settled based on the prevailing market price as energy is generated by the facility. We have various commitments, totaling $18.8 billion , primarily to purchase programming and network services, equipment, software and marketing services, which will be used or sold in the ordinary course of business, from a variety of suppliers. Of this total amount, $8.4 billion is attributable to 2020 , $7.5 billion is attributable to 2021 through 2022 , $1.4 billion is attributable to 2023 through 2024 and $1.5 billion is attributable to years thereafter. These amounts do not represent our entire anticipated purchases in the future, but represent only those items that are the subject of contractual obligations. Our commitments are generally determined based on the noncancelable quantities or termination amounts. Purchases against our commitments totaled approximately $10.9 billion for 2019 , $9.0 billion for 2018 and $8.2 billion for 2017 . Since the commitments to purchase programming services from television networks and broadcast stations have no minimum volume requirement, we estimated our obligation based on number of subscribers at December 31, 2019 , and applicable rates stipulated in the contracts in effect at that time. We also purchase products and services as needed with no firm commitment.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (Unaudited)	Note 17. Quarterly Financial Information (Unaudited) (dollars in millions, except per share amounts) Quarter Ended First Quarter Second Quarter Third Quarter Fourth Quarter Full Year 2019 Operating Revenues $ 32,128 $ 32,071 $ 32,894 $ 34,775 $ 131,868 Operating Income 7,709 7,850 8,180 6,639 30,378 Net Income 5,160 4,074 5,337 5,217 19,788 Net Income Attributable to Verizon 5,032 3,944 5,194 5,095 19,265 Basic Earnings Per Share Attributable to Verizon (1) $ 1.22 $ 0.95 $ 1.26 $ 1.23 $ 4.66 Diluted Earnings Per Share Attributable to Verizon (1) $ 1.22 $ 0.95 $ 1.25 $ 1.23 $ 4.65 2018 Operating Revenues $ 31,772 $ 32,203 $ 32,607 $ 34,281 $ 130,863 Operating Income 7,349 6,617 7,675 637 22,278 Net Income 4,666 4,246 5,062 2,065 16,039 Net Income Attributable to Verizon 4,545 4,120 4,924 1,939 15,528 Basic Earnings Per Share Attributable to Verizon (1) $ 1.11 $ 1.00 $ 1.19 $ 0.47 $ 3.76 Diluted Earnings Per Share Attributable to Verizon (1) $ 1.11 $ 1.00 $ 1.19 $ 0.47 $ 3.76 (1) Net income attributable to Verizon per common share is computed independently for each quarter and the sum of the quarters may not equal the annual amount. Results of operations for 2019 and 2018 include the following after-tax charges (credits) attributable to Verizon: (dollars in millions) 2019 2018 First Quarter Second Quarter Third Quarter Fourth Quarter First Quarter Second Quarter Third Quarter Fourth Quarter Severance, pension and benefits charges (credits) $ (71 ) $ — $ 215 $ 108 $ — $ 250 $ (335 ) $ 108 Early debt redemption costs — 1,140 — 1,520 184 — 352 — Acquisition and integration related charges — — — — 82 92 103 142 Product realignment charges — — — — — 509 — — Net gain from dispositions of assets and businesses — — (224 ) — — — — — Disposition of preferred stock — — — (2,247 ) — — — — Impairment charges — — — 214 — — — 4,527 Historical Wireless legal entity restructuring — — — — — — — (2,065 ) Disposition of Preferred Stock During the fourth quarter of 2019, we completed the disposition of preferred stock, representing a minority interest in a foreign affiliate, which resulted in a non-recurring income tax benefit of approximately $2.2 billion in our consolidated statement of income for the year ended December 31, 2019 . Historical Wireless Legal Entity Restructuring During the fourth quarter of 2018, we completed an internal reorganization of legal entities within the historical Wireless business which resulted in a non-recurring income tax benefit of approximately $2.1 billion in our consolidated statement of income for the year ended December 31, 2018, which reduced our deferred tax liability by the same amount.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Verizon Communications Inc. and Subsidiaries For the Years Ended December 31, 2019 , 2018 and 2017 (dollars in millions) Additions Description Balance at Charged to Charged to Other Accounts (a) Deductions (b) Balance at End of Period (c) Allowance for Uncollectible Accounts Receivable: Year 2019 $ 930 $ 1,441 $ 133 $ 1,644 $ 860 Year 2018 1,199 776 216 1,261 930 Year 2017 1,146 1,167 205 1,319 1,199 Additions Description Balance at Charged to Charged to Other Accounts (d) Deductions (e) Balance at End of Period Valuation Allowance for Deferred Tax Assets: Year 2019 $ 2,741 $ 402 $ 8 $ 891 $ 2,260 Year 2018 3,293 251 112 915 2,741 Year 2017 2,473 765 273 218 3,293 (a) Charged to Other Accounts primarily includes amounts previously written off which were credited directly to this account when recovered. (b) Deductions primarily include amounts written off as uncollectible or transferred to other accounts or utilized. (c) Allowance for Uncollectible Accounts Receivable includes approximately $127 million , $165 million and $260 million at December 31, 2019 , 2018 , and 2017 , respectively, related to long-term device payment plan receivables. (d) Charged to Other Accounts includes current year increase to valuation allowance charged to equity and reclassifications from other balance sheet accounts. (e) Reductions to valuation allowances related to deferred tax assets.

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Consolidation	Consolidation The method of accounting applied to investments, whether consolidated or equity, involves an evaluation of all significant terms of the investments that explicitly grant or suggest evidence of control or influence over the operations of the investee. The consolidated financial statements include our controlled subsidiaries, as well as variable interest entities (VIE) where we are deemed to be the primary beneficiary. For controlled subsidiaries that are not wholly-owned, the noncontrolling interests are included in Net income and Total equity. Investments in businesses that we do not control, but have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method. Equity method investments are included in Investments in unconsolidated businesses in our consolidated balance sheets. All significant intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates We prepare our financial statements using U.S. generally accepted accounting principles (GAAP), which requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Examples of significant estimates include the allowance for doubtful accounts, the recoverability of property, plant and equipment, the incremental borrowing rate for the lease liability, the recoverability of intangible assets and other long-lived assets, fair value measurements, including those related to financial instruments, goodwill, spectrum licenses and intangible assets, unrecognized tax benefits, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations.
Revenue Recognition	Revenue Recognition We earn revenue from contracts with customers, primarily through the provision of telecommunications and other services and through the sale of wireless equipment. These services include a variety of communication and connectivity services for our Consumer and Business customers including other carriers that use our facilities to provide services to their customers, as well as professional and integrated managed services for our large enterprises and government customers. We account for these revenues under Accounting Standards Update (ASU) 2014-09, "Revenue from Contracts with Customers" (Topic 606) , which we adopted on January 1, 2018 , using the modified retrospective approach. This standard update, along with related subsequently issued updates, clarifies the principles for recognizing revenue and develops a common revenue standard for 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 are deferred and amortized consistent with the transfer of the related good or service. We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. Nature of Products and Services Telecommunications Service We offer wireless services through a variety of plans on a postpaid or prepaid basis. For wireless service, we recognize revenue using an output method, either as the service allowance units are used or as time elapses, because it reflects the pattern by which we satisfy our performance obligation through the transfer of service to the customer. Monthly service is generally billed in advance, which results in a contract liability. See Note 2 for additional information. For postpaid plans, where monthly usage exceeds the allowance, the overage usage represents options held by the customer for incremental services and the usage-based fee is recognized when the customer exercises the option (typically on a month-to-month basis). For our contracts related to wireline communication and connectivity services, in general, fixed monthly fees for service are billed one month in advance, which results in a contract liability, and service revenue is recognized over the enforceable contract term as the service is rendered, as the customer simultaneously receives and consumes the benefits of the services through network access and usage. While substantially all of our wireline service revenue contracts are the result of providing access to our networks, revenue from services that are not fixed in amount and, instead, are based on usage are generally billed in arrears and recognized as the usage occurs. Equipment We sell wireless devices and accessories under the Verizon brand. Equipment revenue is generally recognized when the products are delivered to and accepted by the customer, as this is when control passes to the customer. In addition to offering the sale of equipment on a standalone basis, we have two primary offerings through which customers pay for a wireless device, in connection with a service contract: fixed-term plans and device payment plans. Under a fixed-term plan, the customer is sold the wireless device without any upfront charge or at a discounted price in exchange for entering into a fixed-term service contract (typically for a term of 24 months or less). Under a device payment plan, the customer is sold the wireless device in exchange for a non-interest-bearing installment note, which is repaid by the customer, typically over a 24 -month term, and concurrently enters into a month-to-month contract for wireless service. We may offer certain promotions that provide billing credits applied over a specified term, contingent upon the customer maintaining service. The credits are included in the transaction price, which are allocated to the performance obligations based on their relative selling price and are recognized when earned. A financing component exists in both our fixed-term plans and device payment plans because the timing of the payment for the device, which occurs over the contract term, differs from the satisfaction of the performance obligation, which occurs at contract inception upon transfer of the device to the customer. We periodically assess, at the contract level, the significance of the financing component inherent in our fixed-term and device payment plan receivable based on qualitative and quantitative considerations related to our customer classes. These considerations include assessing the commercial objective of our plans, the term and duration of financing provided, interest rates prevailing in the marketplace, and credit risks of our customer classes, all of which impact our selection of appropriate discount rates. Based on current facts and circumstances, we determined that the financing component in our existing wireless device payments and fixed-term contracts sold through the direct channel is not significant and therefore is not accounted for separately. See Note 8 for additional information on the interest on equipment financed on a device payment plan agreement when sold to the customer by an authorized agent in our indirect channel. Wireless Contracts For our wireless contracts, total contract revenue, which represents the transaction price for wireless service and wireless equipment, is allocated between service and equipment revenue based on their estimated standalone selling prices. We estimate the standalone selling price of the device or accessory to be its retail price excluding subsidies or conditional purchase discounts. We estimate the standalone selling price of wireless service to be the price that we offer to customers on month-to-month contracts that can be cancelled at any time without penalty (i.e., when there is no fixed-term for service) or when service is procured without the concurrent purchase of a wireless device. In addition, we also assess whether the service term is impacted by certain legally enforceable rights and obligations in our contract with customers, such as penalties that a customer would have to pay to early terminate a fixed-term contract or billing credits that would cease if the month-to-month wireless service is canceled. The assessment of these legally enforceable rights and obligations involves judgment and impacts our determination of the transaction price and related disclosures. From time to time, we may offer certain promotions that provide our customers on device payment plans with the right to upgrade to a new device after paying a specified portion of their device payment plan agreement amount and trading in their device in good working order. We account for this trade-in right as a guarantee obligation. The full amount of the trade-in right's fair value is recognized as a guarantee liability and results in a reduction to the revenue recognized upon the sale of the device. The guarantee liability was insignificant at December 31, 2019 and 2018 . The total transaction price is reduced by the guarantee, which is accounted for outside the scope of Topic 606, and the remaining transaction price is allocated between the performance obligations within the contract. Our fixed-term plans generally include the sale of a wireless device at subsidized prices. This results in the creation of a contract asset at the time of sale, which represents the recognition of equipment revenue in excess of amounts billed. For our device payment plans, billing credits are accounted for as consideration payable to a customer and are included in the determination of total transaction price, resulting in a contract liability. We may provide a right of return on our products and services for a short time period after a sale. These rights are accounted for as variable consideration when determining the transaction price, and accordingly we recognize revenue based on the estimated amount to which we expect to be entitled after considering expected returns. Returns and credits are estimated at contract inception and updated at the end of each reporting period as additional information becomes available. We also may provide credits or incentives on our products and services for contracts with resellers, which are accounted for as variable consideration when estimating the amount of revenue to recognize. Wireline Contracts Total consideration for wireline services that are bundled in a single contract is allocated to each performance obligation based on our standalone selling price for each service. While many contracts include one or more service performance obligations, the revenue recognition pattern is generally not impacted by the allocation since the services are generally satisfied over the same period of time. We estimate the standalone selling price to be the price of the services when sold on a standalone basis without any promotional discount. In addition, we also assess whether the service term is impacted by certain legally enforceable rights and obligations in our contract with customers such as penalties that a customer would have to pay to early terminate a fixed-term contract. The assessment of these legally enforceable rights and obligations involves judgment and impacts our determination of transaction price and related disclosures. We may provide performance-based credits or incentives on our products and services for contracts with our Business customers, which are accounted for as variable consideration when estimating the transaction price. Credits are estimated at contract inception and are updated at the end of each reporting period as additional information becomes available. Wireless and Wireline Contracts For offers that include third-party providers, we evaluate whether we are acting as the principal or as the agent with respect to the goods or services provided to the customer. This principal-versus-agent assessment involves judgment and focuses on whether the facts and circumstances of the arrangement indicate that the goods or services were controlled by us prior to transferring them to the customer. To evaluate if we have control, we consider various factors including whether we are primarily responsible for fulfillment, bear risk of loss and have discretion over pricing. Other Advertising revenues are generated through display advertising and search advertising. Display advertising revenue is generated by the display of graphical advertisements and other performance-based advertising. Search advertising revenue is generated when a consumer clicks on a text-based advertisement on the search results page. Our Media business, Verizon Media, primarily earns revenue through display advertising on Verizon Media properties, as well as on third-party properties through our advertising platforms, search advertising and subscription arrangements. Revenue for display and search advertising contracts is recognized as ads are delivered, while subscription contracts are recognized over time. We are generally the principal in transactions carried out through our advertising platforms, and therefore report gross revenue based on the amount billed to our customers. The control and transfer of digital advertising inventory occurs in a rapid, real-time environment, where our proprietary technology enables us to identify, enhance, verify and solely control digital advertising inventory that we then sell to our customers. Our control is further supported by us being primarily responsible to our customers for fulfillment and the fact that we can exercise a level of discretion over pricing. We offer telematics services including smart fleet management and optimization software. Telematics service revenue is generated primarily through subscription contracts. We recognize revenue over time for our subscription contracts. We report taxes collected from customers on behalf of governmental authorities on revenue-producing transactions on a net basis.
Maintenance and Repairs	Maintenance and Repairs We charge the cost of maintenance and repairs, including the cost of replacing minor items not constituting substantial betterments, principally to Cost of services as these costs are incurred.
Advertising Costs	Advertising Costs
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share are based on the weighted-average number of shares outstanding during the period. Where appropriate, diluted earnings per common share include the dilutive effect of shares issuable under our stock-based compensation plans.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash We consider all highly liquid investments with an original maturity of 90 days or less when purchased to be cash equivalents. Cash equivalents are stated at cost, which approximates quoted market value and includes amounts held in money market funds. Cash collections on the device payment plan agreement receivables collateralizing asset-backed debt securities 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 in our consolidated balance sheets.
Investments in Debt and Equity Securities	Investments in Debt and Equity Securities Investments in equity securities that are not accounted for under equity method accounting or result in consolidation are to be measured at fair value. For investments in equity securities without readily determinable fair values, Verizon elects the measurement alternative permitted under GAAP to measure these investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. For investments in debt securities without quoted prices, Verizon uses an alternative matrix pricing method. Investments in equity securities that do not result in consolidation of the investee are included in Investments in unconsolidated businesses and debt securities are included in Other assets in our consolidated balance sheets.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts Accounts receivable are recorded in the consolidated financial statements at cost net of an allowance for credit losses, with the exception of indirect-channel device payment plan loans. We maintain allowances for uncollectible accounts receivable, including our direct-channel device payment plan agreement receivables, for estimated losses resulting from the failure or inability of our customers to make required payments. Indirect-channel device payment loans are considered financial instruments and are initially recorded at fair value net of imputed interest, and credit losses are recorded as incurred. However, loan balances are assessed quarterly for impairment and an allowance is recorded if the loan is considered impaired. Our allowance for uncollectible accounts receivable is based on management’s assessment of the collectability of specific customer accounts and includes consideration of the credit worthiness and financial condition of those customers. We record an allowance to reduce the receivables to the amount that is reasonably believed to be collectible. We also record an allowance for all other receivables based on multiple factors including historical experience with bad debts, the general economic environment and the aging of such receivables. Similar to traditional service revenue, we record direct device payment plan agreement bad debt expense based on an estimate of the percentage of equipment revenue that will not be collected. This estimate is based on a number of factors including historical write-off experience, credit quality of the customer base and other factors such as macroeconomic conditions. We monitor the aging of our accounts with device payment plan agreement receivables and write-off account balances if collection efforts are unsuccessful and future collection is unlikely.
Inventories	Inventories Inventory consists of wireless and wireline equipment held for sale, which is carried at the lower of cost (determined principally on either an average cost or first-in, first-out basis) or net realizable value.
Plant and Depreciation	Plant and Depreciation We record property, plant and equipment at cost. Property, plant and equipment are generally depreciated on a straight-line basis. Leasehold improvements are amortized over the shorter of the estimated life of the improvement or the remaining term of the related lease, calculated from the time the asset was placed in service. When depreciable assets are retired or otherwise disposed of, the related cost and accumulated depreciation are deducted from the property, plant and equipment accounts and any gains or losses on disposition are recognized in income. We capitalize and depreciate network software purchased or developed within property, plant and equipment assets. We also capitalize interest associated with the acquisition or construction of network-related assets. Capitalized interest is reported as a reduction in interest expense and depreciated as part of the cost of the network-related assets. In connection with our ongoing review of the estimated useful lives of property, plant and equipment during 2018 , we determined that the average useful lives of certain assets would be increased. These changes in estimates were applied prospectively in 2018 and resulted in a decrease to depreciation expense of $271 million for the year ended December 31, 2018 . While the timing and extent of current deployment plans are subject to ongoing analysis and modification, we believe that the current estimates of useful lives are reasonable.
Computer Software Costs	Computer Software Costs We capitalize the cost of internal-use network and non-network software that has a useful life in excess of one year. Subsequent additions, modifications or upgrades to internal-use network and non-network software are capitalized only to the extent that they allow the software to perform a task it previously did not perform. Planning, software maintenance and training costs are expensed in the period in which they are incurred. Also, we capitalize interest associated with the development of internal-use network and non-network software. Capitalized non-network internal-use software costs are amortized using the straight-line method over a period of 3 to 7
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill Goodwill is the excess of the acquisition cost of businesses over the fair value of the identifiable net assets acquired. Impairment testing for goodwill is performed annually in the fourth quarter or more frequently if impairment indicators are present. To determine if goodwill is potentially impaired, we have the option to perform a qualitative assessment. However, we may elect to bypass the qualitative assessment and perform a quantitative impairment test even if no indications of a potential impairment exist. The quantitative impairment test for goodwill is performed at the reporting unit level and compares the fair value of the reporting unit (calculated using a combination of a market approach and a discounted cash flow method) to its carrying value. Estimated fair values of reporting units are Level 3 measures in the fair value hierarchy, see Fair Value Measurements discussion below for additional information. Under the qualitative assessment, we consider several qualitative factors, including the business enterprise value of the reporting unit from the last quantitative test and the excess of fair value over carrying value from this test, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations (including industry revenue and Earnings before interest, taxes, depreciation and amortization ( EBITDA ) margin projections), the recent and projected financial performance of the reporting unit, as well as other factors. The market approach includes the use of comparative multiples of guideline companies to corroborate discounted cash flow results. The discounted cash flow method is based on the present value of two components, a projected cash flows and a terminal value. The terminal value represents the expected normalized future cash flows of the reporting unit beyond the cash flows from the discrete projection period. The fair value of the reporting unit is calculated based on the sum of the present value of the cash flows from the discrete period and the present value of the terminal value. The discount rate represents our estimate of the weighted-average cost of capital, or expected return, that a marketplace participant would have required as of the valuation date. If the carrying value exceeds the fair value, an impairment charge is booked for the excess carrying value over fair value, limited to the total amount of goodwill of that reporting unit. During the fourth quarter each year, we update our five-year strategic planning review for each of our reporting units. Those plans consider current economic conditions and trends, estimated future operating results, our view of growth-rates and-anticipated future economic and regulatory conditions. See Note 4 for additional information regarding our goodwill impairment testing. Intangible Assets Not Subject to Amortization A significant portion of our intangible assets are wireless licenses that provide our wireless operations with the exclusive right to utilize designated radio frequency spectrum to provide wireless communication services. While licenses are issued for only a fixed time, generally ten years, such licenses are subject to renewal by the Federal Communications Commission (FCC). License renewals have occurred routinely and at nominal cost. Moreover, we have determined that there are currently no legal, regulatory, contractual, competitive, economic or other factors that limit the useful life of our wireless licenses. As a result, we treat the wireless licenses as an indefinite-lived intangible asset. We re-evaluate the useful life determination for wireless licenses each year to determine whether events and circumstances continue to support an indefinite useful life. We aggregate our wireless licenses into one single unit of accounting, as we utilize our wireless licenses on an integrated basis as part of our nationwide wireless network. We test our wireless licenses for potential impairment annually or more frequently if impairment indicators are present. We have the option to first perform a qualitative assessment to determine whether it is necessary to perform a quantitative impairment test. However, we may elect to bypass the qualitative assessment in any period and proceed directly to performing the quantitative impairment test. Our quantitative assessment consists of comparing the estimated fair value of our aggregate wireless licenses to the aggregated carrying amount as of the test date. Using a quantitative assessment, we estimate the fair value of our aggregate wireless licenses using the Greenfield approach. The Greenfield approach is an income based valuation approach that values the wireless licenses by calculating the cash flow generating potential of a hypothetical start-up company that goes into business with no assets except the wireless licenses to be valued. A discounted cash flow analysis is used to estimate what a marketplace participant would be willing to pay to purchase the aggregated wireless licenses as of the valuation date. If the estimated fair value of the aggregated wireless licenses is less than the aggregated carrying amount of the wireless licenses, then an impairment charge is recognized. As part of our qualitative assessment, we consider several qualitative factors including the business enterprise value of our historical Wireless segment, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations (including industry revenue and EBITDA margin projections), the recent and projected financial performance of our historical Wireless segment, as well as other factors. See Note 4 for additional information regarding our impairment tests. Interest expense incurred while qualifying activities are performed to ready wireless licenses for their intended use is capitalized as part of wireless licenses. The capitalization period ends when the development is discontinued or substantially completed and the license is ready for its intended use. Wireless licenses can be purchased through public auctions conducted by the FCC. Deposits required to participate in these auctions and purchase licenses are recorded as other non-current assets until the corresponding licenses are received and within Net cash used in investing activities in our consolidated statements of cash flows. Intangible Assets Subject to Amortization and Long-Lived Assets Our intangible assets that do not have indefinite lives (primarily customer lists and non-network internal-use software) are amortized over their estimated useful lives. All of our intangible assets subject to amortization and other long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If any indications of impairment are present, we would test for recoverability by comparing the carrying amount of the asset group to the net undiscounted cash flows expected to be generated from the asset group. If those net undiscounted cash flows do not exceed the carrying amount, we would perform the next step, which is to determine the fair value of the asset and record an impairment, if any. We re-evaluate the useful life determinations for these intangible assets each year to determine whether events and circumstances warrant a revision to their remaining useful lives.
Fair Value Measurements	Fair Value Measurements Fair value of financial and non-financial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The three-tier hierarchy for inputs used in measuring fair value, which prioritizes the inputs used in the methodologies of measuring fair value for assets and liabilities, is as follows: Level 1—Quoted prices in active markets for identical assets or liabilities Level 2—Observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3—Unobservable pricing inputs in the market
Income Taxes	Income Taxes Our effective tax rate is based on pre-tax income, statutory tax rates, tax laws and regulations and tax planning strategies available to us in the various jurisdictions in which we operate. Deferred income taxes are provided for temporary differences in the basis between financial statement and income tax assets and liabilities. Deferred income taxes are recalculated annually at tax rates in effect for the years in which those tax assets and liabilities are expected to be realized or settled. We record valuation allowances to reduce our deferred tax assets to the amount that is more likely than not to be realized. We use a two-step approach for recognizing and measuring tax benefits taken or expected to be taken in a tax return. The first step is recognition: we determine whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. In evaluating whether a tax position has met the more-likely-than-not recognition threshold, we presume that the position will be examined by the appropriate taxing authority that has full knowledge of all relevant information. The second step is measurement: a tax position that meets the more-likely-than-not recognition threshold is measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Differences between tax positions taken in a tax return and amounts recognized in the financial statements will generally result in one or more of the following: an increase in a liability for income taxes payable, a reduction of an income tax refund receivable, a reduction in a deferred tax asset or an increase in a deferred tax liability. Significant management judgment is required in evaluating our tax positions and in determining our effective tax rate.
Stock-Based Compensation	Stock-Based Compensation
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions The functional currency of our foreign operations is generally the local currency. For these foreign entities, we translate their financial statements into U.S. dollars using average exchange rates for the period for income statement amounts and using end-of-period exchange rates for assets and liabilities. We record these translation adjustments in Accumulated other comprehensive income, a separate component of Equity, in our consolidated balance sheets. We record exchange gains and losses resulting from the conversion of transaction currency to functional currency as a component of Other income (expense), net.
Employee Benefit Plans	Employee Benefit Plans Pension and postretirement health care and life insurance benefits earned during the year, as well as interest on projected benefit obligations, are accrued. Prior service costs and credits resulting from changes in plan benefits are generally amortized over the average remaining service period of the employees expected to receive benefits. Expected return on plan assets is determined by applying the return on assets assumption to the actual fair value of plan assets. Actuarial gains and losses are recognized in Other income (expense), net in the year in which they occur. These gains and losses are measured annually as of December 31 or upon a remeasurement event. Verizon management employees no longer earn pension benefits or earn service towards the Company retiree medical subsidy. See Note 11 for additional information. We recognize a pension or a postretirement plan’s funded status as either an asset or liability in the consolidated balance sheets. Also, we measure any unrecognized prior service costs and credits that arise during the period as a component of Accumulated other comprehensive income, net of applicable income tax.
Derivative Instruments	Derivative Instruments We enter into derivative transactions primarily to manage our exposure to fluctuations in foreign currency exchange rates and interest rates. We employ risk management strategies, which may include the use of a variety of derivatives including cross currency swaps, forward starting interest rate swaps, interest rate swaps, interest rate caps and foreign exchange forwards. We do not hold derivatives for trading purposes. We measure all derivatives at fair value and recognize them as either assets or liabilities in our consolidated balance sheets. Our derivative instruments are valued primarily using models based on readily observable market parameters for all substantial terms of our derivative contracts and thus are classified as Level 2. Changes in the fair values of derivative instruments not qualifying for hedge accounting are recognized in earnings in the current period. For fair value hedges, the change in the fair value of the derivative instruments is recognized in earnings, along with the change in the fair value of the hedged item. For cash flow hedges, the change in the fair value of the derivative instruments is reported in Other comprehensive income (loss) and recognized in earnings when the hedged item is recognized in earnings. For net investment hedges of certain of our foreign operations, the change in the fair value of the derivative instruments is reported in Other comprehensive income (loss) as part of the cumulative translation adjustment and partially offset the impact of foreign currency changes on the value of our net investment. See Note 9 for additional information.
Variable Interest Entities	Variable Interest Entities VIEs are entities that lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties, have equity investors that do not have the ability to make significant decisions relating to the entity’s operations through voting rights, do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity. We consolidate the assets and liabilities of VIEs when we are deemed to be the primary beneficiary. The primary beneficiary is the party that has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	The following ASUs were issued by Financial Accounting Standards Board (FASB), and have been recently adopted by Verizon. Description Date of Adoption Effect on Financial Statements ASU 2016-02, ASU 2018-01, ASU 2018-10, ASU 2018-11, ASU 2018-20 and ASU 2019-01, Leases (Topic 842) The FASB issued Topic 842 requiring entities to recognize assets and liabilities on the balance sheet for all leases, with certain exceptions. In addition, Topic 842 enables users of financial statements to further understand the amount, timing and uncertainty of cash flows arising from leases. Topic 842 allowed for a modified retrospective application and was effective as of the first quarter of 2019. Entities were allowed to apply the modified retrospective approach: (1) retrospectively to each prior reporting period presented in the financial statements with the cumulative-effect adjustment recognized at the beginning of the earliest comparative period presented; or (2) retrospectively at the beginning of the period of adoption (January 1, 2019) through a cumulative-effect adjustment. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. 1/1/2019 We adopted Topic 842 beginning on January 1, 2019, using the modified retrospective approach with a cumulative-effect adjustment to opening retained earnings recorded at the beginning of the period of adoption. Therefore, upon adoption, we have recognized and measured leases without revising comparative period information or disclosure. We recorded an increase of $410 million (net of tax) to retained earnings on January 1, 2019 which related to deferred sale leaseback gains recognized from prior transactions. Additionally, the adoption of the standard had a significant impact in our consolidated balance sheet due to the recognition of $22.1 billion of operating lease liabilities, along with $23.2 billion of operating lease right-of-use-assets. The cumulative after-tax effect of the changes made to our consolidated balance sheet for the adoption of Topic 842 were as follows: (dollars in millions) At December 31, 2018 Adjustments due to Topic 842 At January 1, 2019 Prepaid expenses and other $ 5,453 $ (329 ) $ 5,124 Operating lease right-of-use assets — 23,241 23,241 Other assets 11,717 (2,048 ) 9,669 Accounts payable and accrued liabilities 22,501 (3 ) 22,498 Other current liabilities 8,239 (2 ) 8,237 Current operating lease liabilities — 2,931 2,931 Deferred income taxes 33,795 139 33,934 Non-current operating lease liabilities — 19,203 19,203 Other liabilities 13,922 (1,815 ) 12,107 Retained earnings 43,542 410 43,952 Noncontrolling interests 1,565 1 1,566 In addition to the increase to the operating lease liabilities and right-of-use assets and the derecognition of deferred sale leaseback gains through opening retained earnings, Topic 842 also resulted in reclassifying the presentation of prepaid and deferred rent to operating lease right-of-use assets. The operating lease right-of-use assets amount also includes the balance of any prepaid lease payments, unamortized initial direct costs and lease incentives. We elected the package of practical expedients permitted under the transition guidance within the new standard. Accordingly, we have adopted these practical expedients and did not reassess: (1) whether an expired or existing contract is a lease or contains an embedded lease; (2) lease classification of an expired or existing lease; or (3) capitalization of initial direct costs for an expired or existing lease. In addition, we have elected the land easement transition practical expedient, and did not reassess whether an existing or expired land easement is a lease or contains a lease if it has not historically been accounted for as a lease. We lease network equipment including towers, distributed antenna systems, small cells, real estate, connectivity mediums which include dark fiber, equipment, and other various types of assets for use in our operations under both operating and finance leases. We assess whether an arrangement is a lease or contains a lease at inception. For arrangements considered leases or that contain a lease that is accounted for separately, we determine the classification and initial measurement of the right-of-use asset and lease liability at the lease commencement date, which is the date that the underlying asset becomes available for use. For both operating and finance leases, we recognize a right-of-use asset, which represents our right to use the underlying asset for the lease term, and a lease liability, which represents the present value of our obligation to make payments arising over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases. The incremental borrowing rate is determined using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. Management uses the unsecured borrowing rate and risk-adjusts that rate to approximate a collateralized rate, which is updated on a quarterly basis. In those circumstances where the Company is the lessee, we have elected to account for non-lease components associated with our leases (e.g., common area maintenance costs) and lease components as a single lease component for substantially all of our asset classes. Additionally, in arrangements where we are the lessor, we have customer premise equipment for which we apply the lease and non-lease component practical expedient and account for non-lease components (e.g., service revenue) and lease components as combined components under the revenue recognition guidance in Topic 606 as the service revenues are the predominant components in the arrangements. Rent expense for operating leases is recognized on a straight-line basis over the term of the lease and is included in either Cost of services or Selling, general and administrative expense in our consolidated statements of income, based on the use of the facility or equipment on which rent is being paid. Variable rent payments related to both operating and finance leases are expensed in the period incurred. Our variable lease payments consist of payments dependent on various external indicators, including real estate taxes, common area maintenance charges and utility usage. Operating leases with a term of 12 months or less are not recorded on the balance sheet; we recognize rent expense for these leases on a straight-line basis over the lease term. We recognize the amortization of the right-of-use asset for our finance leases on a straight-line basis over the shorter of the lease term or the useful life of the right-of-use asset in Depreciation and amortization expense in our consolidated statements of income. The interest expense related to finance leases is recognized using the effective interest method based on the discount rate determined at lease commencement and is included within Interest expense in our consolidated statements of income. See Note 6 for additional information related to leases, including disclosure required under Topic 842. Opening Equity Balance Sheet Adjustments from Accounting Standards Adopted in 2018 On January 1, 2018, we adopted Topic 606, ASU 2018-02, Income Statement-Reporting Comprehensive Income and other ASUs. We adopted Topic 606 using the modified retrospective method. We early adopted ASU 2018-02, which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from Tax Cuts and Jobs Act (TCJA). The cumulative after-tax effect of the changes made to our consolidated balance sheet for the adoption of Topic 606, ASU 2018-02 and other ASUs was as follows: Adjustments due to (dollars in millions) At December 31, 2017 Topic 606 ASU 2018-02 Other ASUs At January 1, 2018 Retained earnings 35,635 2,890 (652 ) (6 ) 37,867 Accumulated other comprehensive income 2,659 — 652 (22 ) 3,289 Noncontrolling interests 1,591 44 — — 1,635 Recently Issued Accounting Standards The following ASUs have been recently issued by the FASB. Description Date of Adoption Effect on Financial Statements ASU 2016-13, ASU 2018-19, ASU 2019-04, ASU 2019-05, Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued this standard update which requires 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. An entity will apply the update through a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (January 1, 2020). A prospective transition approach is required for debt securities for which an other-than-temporary impairment has been recognized before the effective date. Early adoption of this standard is permitted. 1/1/2020 We established a cross-functional coordinated team to implement the standard update. We have completed our assessment of the expected impacts and updated our processes to meet the standards reporting and disclosure requirements. Upon adoption of this standard on January 1, 2020, we expect the cumulative effect of initially applying the new standard to result in a decrease to the opening balance of retained earnings ranging from approximately $200 million to $300 million on a pre-tax basis ($150 million to $225 million net of tax), primarily related to the expected impact on certain device payment plan agreement receivables. We do not expect our operating results to be significantly impacted by this standard update.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	Cash, cash equivalents and restricted cash are included in the following line items in the consolidated balance sheets: (dollars in millions) At December 31, 2019 2018 Increase / (Decrease) Cash and cash equivalents $ 2,594 $ 2,745 $ (151 ) Restricted cash: Prepaid expenses and other 1,221 1,047 174 Other assets 102 124 (22 ) Cash, cash equivalents and restricted cash $ 3,917 $ 3,916 $ 1
Schedule of Cumulative Effect for Adoption of New Accounting Pronouncement	The following ASUs have been recently issued by the FASB. Description Date of Adoption Effect on Financial Statements ASU 2016-13, ASU 2018-19, ASU 2019-04, ASU 2019-05, Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued this standard update which requires 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. An entity will apply the update through a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (January 1, 2020). A prospective transition approach is required for debt securities for which an other-than-temporary impairment has been recognized before the effective date. Early adoption of this standard is permitted. 1/1/2020 We established a cross-functional coordinated team to implement the standard update. We have completed our assessment of the expected impacts and updated our processes to meet the standards reporting and disclosure requirements. Upon adoption of this standard on January 1, 2020, we expect the cumulative effect of initially applying the new standard to result in a decrease to the opening balance of retained earnings ranging from approximately $200 million to $300 million on a pre-tax basis ($150 million to $225 million net of tax), primarily related to the expected impact on certain device payment plan agreement receivables. We do not expect our operating results to be significantly impacted by this standard update. The cumulative after-tax effect of the changes made to our consolidated balance sheet for the adoption of Topic 842 were as follows: (dollars in millions) At December 31, 2018 Adjustments due to Topic 842 At January 1, 2019 Prepaid expenses and other $ 5,453 $ (329 ) $ 5,124 Operating lease right-of-use assets — 23,241 23,241 Other assets 11,717 (2,048 ) 9,669 Accounts payable and accrued liabilities 22,501 (3 ) 22,498 Other current liabilities 8,239 (2 ) 8,237 Current operating lease liabilities — 2,931 2,931 Deferred income taxes 33,795 139 33,934 Non-current operating lease liabilities — 19,203 19,203 Other liabilities 13,922 (1,815 ) 12,107 Retained earnings 43,542 410 43,952 Noncontrolling interests 1,565 1 1,566 The following ASUs were issued by Financial Accounting Standards Board (FASB), and have been recently adopted by Verizon. Description Date of Adoption Effect on Financial Statements ASU 2016-02, ASU 2018-01, ASU 2018-10, ASU 2018-11, ASU 2018-20 and ASU 2019-01, Leases (Topic 842) The FASB issued Topic 842 requiring entities to recognize assets and liabilities on the balance sheet for all leases, with certain exceptions. In addition, Topic 842 enables users of financial statements to further understand the amount, timing and uncertainty of cash flows arising from leases. Topic 842 allowed for a modified retrospective application and was effective as of the first quarter of 2019. Entities were allowed to apply the modified retrospective approach: (1) retrospectively to each prior reporting period presented in the financial statements with the cumulative-effect adjustment recognized at the beginning of the earliest comparative period presented; or (2) retrospectively at the beginning of the period of adoption (January 1, 2019) through a cumulative-effect adjustment. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. 1/1/2019 We adopted Topic 842 beginning on January 1, 2019, using the modified retrospective approach with a cumulative-effect adjustment to opening retained earnings recorded at the beginning of the period of adoption. Therefore, upon adoption, we have recognized and measured leases without revising comparative period information or disclosure. We recorded an increase of $410 million (net of tax) to retained earnings on January 1, 2019 which related to deferred sale leaseback gains recognized from prior transactions. Additionally, the adoption of the standard had a significant impact in our consolidated balance sheet due to the recognition of $22.1 billion of operating lease liabilities, along with $23.2 billion of operating lease right-of-use-assets. Adjustments due to (dollars in millions) At December 31, 2017 Topic 606 ASU 2018-02 Other ASUs At January 1, 2018 Retained earnings 35,635 2,890 (652 ) (6 ) 37,867 Accumulated other comprehensive income 2,659 — 652 (22 ) 3,289 Noncontrolling interests 1,591 44 — — 1,635 A reconciliation of the adjustments from the adoption of Topic 606 relative to Topic 605 on certain impacted financial statement line items in our consolidated statements of income is as follows: Year Ended December 31, 2018 (dollars in millions) As reported Balances without adoption of Topic 606 Adjustments Operating Revenues Service revenues and other $ 108,605 $ 109,964 $ (1,359 ) Wireless equipment revenues 22,258 20,474 1,784 Total Operating Revenues 130,863 130,438 425 Cost of services (exclusive of items shown below) 32,185 32,240 (55 ) Cost of wireless equipment 23,323 23,189 134 Selling, general and administrative expense 31,083 32,588 (1,505 ) Equity in losses of unconsolidated businesses (186 ) (187 ) 1 Income Before Provision For Income Taxes 19,623 17,771 1,852 Provision for income taxes (3,584 ) (3,104 ) (480 ) Net Income $ 16,039 $ 14,667 $ 1,372 Net income attributable to noncontrolling interests $ 511 $ 481 $ 30 Net income attributable to Verizon 15,528 14,186 1,342 Net Income $ 16,039 $ 14,667 $ 1,372

Revenues and Contract Costs (Ta

Revenues and Contract Costs (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Reconciliation of Impact of Adoption of Topic 606 on Financial Statement	The following ASUs have been recently issued by the FASB. Description Date of Adoption Effect on Financial Statements ASU 2016-13, ASU 2018-19, ASU 2019-04, ASU 2019-05, Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued this standard update which requires 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. An entity will apply the update through a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (January 1, 2020). A prospective transition approach is required for debt securities for which an other-than-temporary impairment has been recognized before the effective date. Early adoption of this standard is permitted. 1/1/2020 We established a cross-functional coordinated team to implement the standard update. We have completed our assessment of the expected impacts and updated our processes to meet the standards reporting and disclosure requirements. Upon adoption of this standard on January 1, 2020, we expect the cumulative effect of initially applying the new standard to result in a decrease to the opening balance of retained earnings ranging from approximately $200 million to $300 million on a pre-tax basis ($150 million to $225 million net of tax), primarily related to the expected impact on certain device payment plan agreement receivables. We do not expect our operating results to be significantly impacted by this standard update. The cumulative after-tax effect of the changes made to our consolidated balance sheet for the adoption of Topic 842 were as follows: (dollars in millions) At December 31, 2018 Adjustments due to Topic 842 At January 1, 2019 Prepaid expenses and other $ 5,453 $ (329 ) $ 5,124 Operating lease right-of-use assets — 23,241 23,241 Other assets 11,717 (2,048 ) 9,669 Accounts payable and accrued liabilities 22,501 (3 ) 22,498 Other current liabilities 8,239 (2 ) 8,237 Current operating lease liabilities — 2,931 2,931 Deferred income taxes 33,795 139 33,934 Non-current operating lease liabilities — 19,203 19,203 Other liabilities 13,922 (1,815 ) 12,107 Retained earnings 43,542 410 43,952 Noncontrolling interests 1,565 1 1,566 The following ASUs were issued by Financial Accounting Standards Board (FASB), and have been recently adopted by Verizon. Description Date of Adoption Effect on Financial Statements ASU 2016-02, ASU 2018-01, ASU 2018-10, ASU 2018-11, ASU 2018-20 and ASU 2019-01, Leases (Topic 842) The FASB issued Topic 842 requiring entities to recognize assets and liabilities on the balance sheet for all leases, with certain exceptions. In addition, Topic 842 enables users of financial statements to further understand the amount, timing and uncertainty of cash flows arising from leases. Topic 842 allowed for a modified retrospective application and was effective as of the first quarter of 2019. Entities were allowed to apply the modified retrospective approach: (1) retrospectively to each prior reporting period presented in the financial statements with the cumulative-effect adjustment recognized at the beginning of the earliest comparative period presented; or (2) retrospectively at the beginning of the period of adoption (January 1, 2019) through a cumulative-effect adjustment. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. 1/1/2019 We adopted Topic 842 beginning on January 1, 2019, using the modified retrospective approach with a cumulative-effect adjustment to opening retained earnings recorded at the beginning of the period of adoption. Therefore, upon adoption, we have recognized and measured leases without revising comparative period information or disclosure. We recorded an increase of $410 million (net of tax) to retained earnings on January 1, 2019 which related to deferred sale leaseback gains recognized from prior transactions. Additionally, the adoption of the standard had a significant impact in our consolidated balance sheet due to the recognition of $22.1 billion of operating lease liabilities, along with $23.2 billion of operating lease right-of-use-assets. Adjustments due to (dollars in millions) At December 31, 2017 Topic 606 ASU 2018-02 Other ASUs At January 1, 2018 Retained earnings 35,635 2,890 (652 ) (6 ) 37,867 Accumulated other comprehensive income 2,659 — 652 (22 ) 3,289 Noncontrolling interests 1,591 44 — — 1,635 A reconciliation of the adjustments from the adoption of Topic 606 relative to Topic 605 on certain impacted financial statement line items in our consolidated statements of income is as follows: Year Ended December 31, 2018 (dollars in millions) As reported Balances without adoption of Topic 606 Adjustments Operating Revenues Service revenues and other $ 108,605 $ 109,964 $ (1,359 ) Wireless equipment revenues 22,258 20,474 1,784 Total Operating Revenues 130,863 130,438 425 Cost of services (exclusive of items shown below) 32,185 32,240 (55 ) Cost of wireless equipment 23,323 23,189 134 Selling, general and administrative expense 31,083 32,588 (1,505 ) Equity in losses of unconsolidated businesses (186 ) (187 ) 1 Income Before Provision For Income Taxes 19,623 17,771 1,852 Provision for income taxes (3,584 ) (3,104 ) (480 ) Net Income $ 16,039 $ 14,667 $ 1,372 Net income attributable to noncontrolling interests $ 511 $ 481 $ 30 Net income attributable to Verizon 15,528 14,186 1,342 Net Income $ 16,039 $ 14,667 $ 1,372
Schedule of Receivables from Contracts with Customers	The following table presents information about receivables from contracts with customers: At December 31, At December 31, At January 1, (dollars in millions) 2019 2018 2018 Receivables (1) $ 12,078 $ 12,104 $ 12,073 Device payment plan agreement receivables (2) 11,741 8,940 1,461 (1) Balances do not include receivables related to the following contracts: leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. (2) Included in device payment plan agreement receivables presented in Note 8 . Balances do not include receivables related to contracts completed prior to January 1, 2018 and receivables derived from the sale of equipment on a device payment plan through an authorized agent.
Contract with Customer, Asset and Liability	The following table presents information about contract balances: At December 31, At December 31, At January 1, (dollars in millions) 2019 2018 2018 Contract asset $ 1,150 $ 1,003 $ 1,170 Contract liability 5,307 4,943 4,452 The balance of contract assets and contract liabilities recorded in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2019 2018 Assets Prepaid expenses and other $ 848 $ 757 Other assets 302 246 Total $ 1,150 $ 1,003 Liabilities Other current liabilities $ 4,651 $ 4,207 Other liabilities 656 736 Total $ 5,307 $ 4,943
Capitalized Contract Cost	The balances of deferred contract costs included in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2019 2018 Assets Prepaid expenses and other $ 2,578 $ 2,083 Other assets 1,911 1,812 Total $ 4,489 $ 3,895

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Purchase Price Identified Based on Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the final accounting for the assets acquired, including cash acquired of $230 million , 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 December 31, 2017 Measurement-period adjustments (1) Adjusted Fair Value Cash payment to Yahoo’s equity holders $ 4,673 $ — $ 4,673 Estimated liabilities to be paid 38 — 38 Total consideration $ 4,711 $ — $ 4,711 Assets acquired: Goodwill $ 1,929 $ 215 $ 2,144 Intangible assets subject to amortization 1,873 1 1,874 Property, plant, and equipment 1,805 (6 ) 1,799 Other 1,332 128 1,460 Total assets acquired 6,939 338 7,277 Liabilities assumed: Total liabilities assumed 2,178 338 2,516 Net assets acquired: 4,761 — 4,761 Noncontrolling interest (50 ) — (50 ) Total consideration $ 4,711 $ — $ 4,711 (1) Adjustments to the fair value measurements to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. The most significant adjustments related to an increase in goodwill and the recognition of liabilities per certain pre-acquisition contingencies.

Wireless Licenses, Goodwill a_2

Wireless Licenses, Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Wireless Licenses	The carrying amounts of Wireless licenses are as follows: (dollars in millions) At December 31, 2019 2018 Wireless licenses $ 95,059 $ 94,130
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Consumer Business Wireless Wireline Other (2) Total Balance at January 1, 2018 $ — $ — $ 18,397 $ 3,955 $ 6,820 $ 29,172 Acquisitions (Note 3) — — — (77 ) 225 148 Reclassifications, adjustments and other — — — (7 ) (108 ) (115 ) Media goodwill impairment — — — — (4,591 ) (4,591 ) Balance at December 31, 2018 — — 18,397 3,871 2,346 24,614 Acquisitions — — — 20 — 20 Reclassifications, adjustments and other — — — 1 — 1 Balance at March 31, 2019 — — 18,397 3,892 2,346 24,635 Reporting Unit reallocation (1) 17,104 7,269 (18,397 ) (3,892 ) (2,084 ) — Balance at April 1, 2019 17,104 7,269 — — 262 24,635 Acquisitions — 2 — — — 2 Media goodwill impairment — — — — (186 ) (186 ) Reclassifications, adjustments and other — (2 ) — — (60 ) (62 ) Balance at December 31, 2019 $ 17,104 $ 7,269 $ — $ — $ 16 $ 24,389 (1) Represents the reallocation of goodwill as a result of the Company reorganizing its segments as described in Note 1. (2) Goodwill is net of accumulated impairment charges of $4.6 billion as of December 31, 2018 and $4.8 billion as of December 31, 2019, related to our Media reporting unit.
Composition of Other Intangible Assets, Net	The following table displays the composition of Other intangible assets, net as well as the respective amortization period: (dollars in millions) 2019 2018 At December 31, Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Customer lists (8 to 13 years) $ 3,896 $ (1,511 ) $ 2,385 $ 3,951 $ (1,121 ) $ 2,830 Non-network internal-use software (3 to 7 years) 20,530 (14,418 ) 6,112 18,603 (12,785 ) 5,818 Other (2 to 25 years) 1,967 (966 ) 1,001 1,988 (861 ) 1,127 Total $ 26,393 $ (16,895 ) $ 9,498 $ 24,542 $ (14,767 ) $ 9,775
Amortization Expense for Other Intangible Assets	The amortization expense for Other intangible assets was as follows: Years (dollars in millions) 2019 $ 2,311 2018 2,217 2017 2,213
Estimated Future Amortization Expense for Other Intangible Assets	Estimated annual amortization expense for Other intangible assets is as follows: Years (dollars in millions) 2020 $ 2,235 2021 1,931 2022 1,651 2023 1,317 2024 968

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Summary of Plant, Property and Equipment	The following table displays the details of Property, plant and equipment, which is stated at cost: (dollars in millions) At December 31, Lives (years) 2019 2018 Land - $ 594 $ 807 Buildings and equipment 7 to 45 31,216 30,468 Central office and other network equipment 3 to 50 152,733 147,250 Cable, poles and conduit 7 to 50 52,658 49,859 Leasehold improvements 5 to 20 9,072 8,580 Work in progress - 9,234 6,362 Furniture, vehicles and other 3 to 20 10,227 9,509 265,734 252,835 Less accumulated depreciation 173,819 163,549 Property, plant and equipment, net $ 91,915 $ 89,286

Leasing Arrangements (Tables)

Leasing Arrangements (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Components of Net Lease Cost, and Supplemental Disclosure for Statement of Cash Flows related to Operating and Finance Leases	The components of net lease cost were as follows: (dollars in millions) Year Ended December 31, Classification 2019 Operating lease cost (1) Cost of services Selling, general and administrative expense $ 4,746 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 330 Interest on lease liabilities Interest expense 38 Short-term lease cost (1) Cost of services Selling, general and administrative expense 40 Variable lease cost (1) Cost of services 218 Sublease income Service revenues and other (275 ) Total net lease cost $ 5,097 Gain on sale and leaseback transaction, net Selling, general and administrative expense $ (391 ) (1) All operating lease costs, including short-term and variable lease costs, are split between Cost of services and Selling, general and administrative expense in the consolidated statements of income based on the use of the facility or equipment that the rent is being paid on. See Note 1 for additional information. Variable lease costs represent payments that are dependent on a rate or index, or on usage of the asset. Supplemental disclosure for the statement of cash flows related to operating and finance leases were as follows: (dollars in millions) Year Ended December 31, 2019 Cash Flows from Operating Activities Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ (4,392 ) Operating cash flows for finance leases (38 ) Cash Flows from Financing Activities Financing cash flows for finance leases (352 ) Supplemental lease cash flow disclosures Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 3,510 Right-of-use assets obtained in exchange for new finance lease liabilities 564
Supplemental Disclosure for Balance Sheet related to Finance Leases	Supplemental disclosures for the balance sheet related to finance leases were as follows: (dollars in millions) At December 31, 2019 Assets Property, plant and equipment, net $ 939 Liabilities Debt maturing within one year $ 336 Long-term debt 780 Total Finance lease liabilities $ 1,116
Schedule of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate related to Leases	The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows: At December 31, 2019 Weighted-average remaining lease term (years) Operating Leases 9 Finance Leases 5 Weighted-average discount rate Operating Leases 4.0 % Finance Leases 3.2 %
Lessee, Operating Lease, Liability, Maturity	The Company's maturity analysis of operating and finance lease liabilities as of December 31, 2019 were as follows: (dollars in millions) Years Operating Leases Finance Leases 2020 $ 4,099 $ 366 2021 3,764 271 2022 3,363 208 2023 3,001 152 2024 2,484 92 Thereafter 9,257 124 Total lease payments 25,968 1,213 Less interest 4,314 97 Present value of lease liabilities 21,654 1,116 Less current obligation 3,261 336 Long-term obligation at December 31, 2019 $ 18,393 $ 780
Finance Lease, Liability, Maturity	The Company's maturity analysis of operating and finance lease liabilities as of December 31, 2019 were as follows: (dollars in millions) Years Operating Leases Finance Leases 2020 $ 4,099 $ 366 2021 3,764 271 2022 3,363 208 2023 3,001 152 2024 2,484 92 Thereafter 9,257 124 Total lease payments 25,968 1,213 Less interest 4,314 97 Present value of lease liabilities 21,654 1,116 Less current obligation 3,261 336 Long-term obligation at December 31, 2019 $ 18,393 $ 780
Assets And Liabilities, Lessee	Amortization of capital leases was included in Depreciation and amortization expense in the consolidated statements of income. Capital lease amounts included in Property, plant and equipment were as follows: (dollars in millions) At December 31, 2018 Capital leases $ 1,756 Less accumulated amortization 998 Total $ 758

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Outstanding Long-term Debt Obligations	Outstanding long-term debt obligations as of December 31, 2019 and 2018 are as follows: (dollars in millions) At December 31, Maturities Interest 2019 2018 Verizon Communications 2019-2024 1.38 – 5.51 $ 19,885 $ 24,242 2025-2029 1.38 – 6.80 30,038 23,711 2030-2055 2.65 – 8.95 47,777 54,662 2019-2024 Floating (1) 2,210 2,868 2025-2029 Floating (1) 1,789 1,789 Alltel Corporation 2025-2029 6.80 38 116 2030-2055 7.88 58 118 Operating telephone company subsidiaries—debentures 2019-2024 7.88 – 8.00 141 147 2025-2029 6.00 – 8.38 286 288 2030-2055 5.13 – 8.75 339 361 GTE LLC 2019-2024 8.75 141 178 2025-2029 6.94 250 266 Other subsidiaries—asset-backed debt 2019-2024 1.42 – 3.56 8,116 7,962 2019-2024 Floating (1) 4,277 2,139 Finance lease obligations (average rate of 3.2% and 4.1% in 2019 and 2018, respectively) 1,116 905 Unamortized discount, net of premium (4,480 ) (6,298 ) Unamortized debt issuance costs (492 ) (541 ) Total long-term debt, including current maturities 111,489 112,913 Less long-term debt maturing within one year 10,777 7,040 Total long-term debt $ 100,712 $ 105,873 Total long-term debt, including current maturities $ 111,489 $ 112,913 Plus short-term notes payable — 150 Total debt $ 111,489 $ 113,063 (1) The debt obligations bore interest at a floating rate based on the London Interbank Offered Rate (LIBOR) plus an applicable interest margin per annum.
Maturities of Long-term Debt excluding Unamortized Debt Issuance Costs	Maturities of long-term debt (secured and unsecured) outstanding, including current maturities, excluding unamortized debt issuance costs, at December 31, 2019 are as follows: Years (dollars in millions) 2020 $ 10,470 2021 7,269 2022 9,162 2023 5,591 2024 4,212 Thereafter 74,161
Schedule of Debt Transactions	During the year ended December 31, 2019 , we completed the following ABS Notes transactions: (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued March 2019 A-1a Senior class notes 2.930 2.50 $ 900 A-1b Senior floating rate class notes LIBOR + 0.330 (1) 2.50 100 B Junior class notes 3.020 3.22 69 C Junior class notes 3.220 3.40 53 March 2019 total 1,122 June 2019 A-1a Senior class notes 2.330 2.52 855 A-1b Senior floating rate class notes LIBOR + 0.450 (1) 2.52 145 B Junior class notes 2.400 3.28 69 C Junior class notes 2.600 3.47 53 June 2019 total 1,122 October 2019 A-1a Senior class notes 1.940 2.51 1,276 A-1b Senior floating rate class notes LIBOR + 0.420 (1) 2.51 150 B Junior class notes 2.060 3.23 98 C Junior class notes 2.160 3.41 76 October 2019 total 1,600 Total $ 3,844 (1) The one-month LIBOR at December 31, 2019 was 1.763% . The following tables show the significant transactions involving the senior unsecured debt securities of Verizon and its subsidiaries that occurred during the year ended December 31, 2019 . Exchange Offers (dollars in millions) Principal Amount Exchanged Principal Amount Issued Verizon 1.750% - 5.150% notes and floating rate notes, due 2021 - 2025 $ 3,892 $ — GTE LLC 8.750% debentures, due 2021 21 — Verizon 4.016% notes due 2029 (1) — 4,000 Total $ 3,913 $ 4,000 (1) The principal amount issued in exchange does not include either an insignificant amount of cash paid in lieu of the issuance of fractional new notes or accrued and unpaid interest paid on the old notes accepted for exchange to the date of exchange. Tender Offers (dollars in millions) Principal Amount Purchased Cash Consideration (1) Verizon 4.672% - 5.012% notes due 2054 - 2055 $ 4,500 $ 5,030 Verizon 3.850% - 6.550% notes due 2039 - 2055 3,816 4,828 Verizon and other subsidiaries 5.050% - 8.950% notes and debentures due 2021 - 2041 593 837 Total $ 8,909 $ 10,695 (1) The total cash consideration includes the tender offer consideration, plus any accrued and unpaid interest to the date of purchase. Redemptions, Repurchases and Repayments (dollars in millions) Principal Redeemed/ Repurchased/ Repaid Amount Paid as % of Principal (1) Verizon 5.900% notes due 2054 $ 500 100.000 % Verizon 1.375% notes due 2019 206 100.000 % Verizon 1.750% notes due 2021 621 100.000 % Verizon 3.000% notes due 2021 930 101.061 % Verizon 3.500% notes due 2021 315 102.180 % Verizon 2.625% notes due 2020 831 100.037 % Verizon 3.500% notes due 2021 736 102.238 % Verizon floating rate (LIBOR + 0.770%) notes due 2019 229 100.000 % Verizon 4.200% notes due 2046 2,059 100.000 % Verizon floating rate (LIBOR + 0.370%) notes due 2019 306 100.000 % Verizon 2.600% - 4.300% Internotes due 2022 - 2029 201 100.000 % Open market repurchases of various Verizon notes 543 Various Total $ 7,477 (1) Percentages represent price paid to redeem, repurchase and repay. In February 2020, we redeemed, in whole, approximately $1.5 billion aggregate principal amount of 4.95% Notes due 2047. Issuances (dollars in millions) Principal Amount Issued Net Proceeds (1) Verizon 3.875% notes due 2029 (2) $ 1,000 $ 994 Verizon 5.000% notes due 2051 $ 510 506 Verizon 0.875% notes due 2027 € 1,250 1,391 Verizon 1.250% notes due 2030 € 1,250 1,385 Verizon 2.500% notes due 2031 £ 500 647 Verizon 0.875% notes due 2032 € 800 882 Verizon 1.500% notes due 2039 € 500 545 Verizon 1.875% notes due 2030 £ 550 672 Verizon 2.100% notes due 2026 A$ 450 307 Verizon 2.650% notes due 2030 A$ 300 205 Verizon 3.500% notes due 2039 A$ 500 341 Total $ 7,875 (1) Net proceeds were net of discount and issuance costs. (2) An amount equal to the net proceeds from this green bond will be used to fund, in whole or in part, "Eligible Green Investments." "Eligible Green Investments" include new and existing investments made by us during the period from two years prior to the issuance of the green bond through the maturity date of the green bond, in the following categories: (1) renewable energy; (2) energy efficiency; (3) green buildings; (4) sustainable water management; and (5) biodiversity and conservation.
Schedule of Assets and Liabilities Related to Asset-backed Debt Arrangements	The assets and liabilities related to our asset-backed debt arrangements included in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2019 2018 Assets Accounts receivable, net $ 10,525 $ 8,861 Prepaid expenses and other 1,180 989 Other assets 3,856 2,725 Liabilities Accounts payable and accrued liabilities 11 7 Debt maturing within one year 5,578 5,352 Long-term debt 6,791 4,724
Schedule of Line of Credit Facilities	Long-Term Credit Facilities At December 31, 2019 (dollars in millions) Maturities Facility Capacity Unused Capacity Principal Amount Outstanding Verizon revolving credit facility (1) 2022 $ 9,500 $ 9,390 N/A Various export credit facilities (2) 2022-2027 5,500 — 4,471 Total $ 15,000 $ 9,390 $ 4,471 (1) The revolving 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. The revolving credit facility provides for the issuance of letters of credit. (2) During 2019 and 2018, we drew down $1.5 billion and $3.0 billion from these facilities, respectively. We use these credit facilities to finance equipment-related purchases.

Wireless Device Payment Plans (

Wireless Device Payment Plans (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Device Payment Plan Receivables, Net	The following table displays device payment plan agreement receivables, net, that are recognized in our consolidated balance sheets: (dollars in millions) At December 31, 2019 2018 Device payment plan agreement receivables, gross $ 19,493 $ 19,313 Unamortized imputed interest (454 ) (546 ) Device payment plan agreement receivables, net of unamortized imputed interest 19,039 18,767 Allowance for credit losses (472 ) (597 ) Device payment plan agreement receivables, net $ 18,567 $ 18,170 Classified in our consolidated balance sheets: Accounts receivable, net $ 13,045 $ 12,624 Other assets 5,522 5,546 Device payment plan agreement receivables, net $ 18,567 $ 18,170
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: (dollars in millions) At December 31, 2019 2018 Unbilled $ 18,203 $ 18,043 Billed: Current 1,002 986 Past due 288 284 Device payment plan agreement receivables, gross $ 19,493 $ 19,313
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) 2019 2018 Balance at January 1, $ 597 $ 848 Bad debt expense 915 459 Write-offs (1,040 ) (710 ) Balance at December 31, $ 472 $ 597

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2019
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 as of December 31, 2019 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Fixed income securities $ — $ 442 $ — $ 442 Interest rate swaps — 568 — 568 Cross currency swaps — 211 — 211 Foreign exchange forwards — 5 — 5 Total $ — $ 1,226 $ — $ 1,226 Liabilities: Other liabilities: Interest rate swaps $ — $ 173 $ — $ 173 Cross currency swaps — 912 — 912 Forward starting interest rate swaps — 604 — 604 Total $ — $ 1,689 $ — $ 1,689 The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Fixed income securities $ — $ 405 $ — $ 405 Interest rate swaps — 3 — 3 Cross currency swaps — 220 — 220 Interest rate caps — 14 — 14 Total $ — $ 642 $ — $ 642 Liabilities: Other liabilities: Interest rate swaps $ — $ 813 $ — $ 813 Cross currency swaps — 536 — 536 Forward starting interest rate swaps — 60 — 60 Interest rate caps — 4 — 4 Total $ — $ 1,413 $ — $ 1,413 (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) Unobservable 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 finance leases, was as follows: (dollars in millions) At December 31, 2019 2018 Carrying Amount Fair Value Carrying Amount Fair Value Short- and long-term debt, excluding finance leases $ 110,373 $ 129,200 $ 112,159 $ 118,535
Notional Amounts of Outstanding Derivative Instruments	The following table sets forth the notional amounts of our outstanding derivative instruments: (dollars in millions) At December 31, 2019 2018 Interest rate swaps $ 17,004 $ 19,813 Cross currency swaps 23,070 16,638 Forward starting interest rate swaps 3,000 4,000 Interest rate caps 679 2,218 Foreign exchange forwards 1,130 600
Schedule of Cumulative Basis Adjustments for Fair Value Hedges	The following amounts were recorded in Long-term debt in our consolidated balance sheets related to cumulative basis adjustments for fair value hedges: (dollars in millions) At December 31, 2019 2018 Carrying amount of hedged liabilities $ 17,337 $ 18,903 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities 433 (785 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Restricted and Performance Stock Unit Activity	The following table summarizes Verizon’s Restricted Stock Unit and Performance Stock Unit activity: Restricted Stock Units Performance (shares in thousands) Equity Awards Liability Awards Stock Units Outstanding January 1, 2017 13,308 — 17,919 Granted 4,216 25,168 6,564 Payments (4,825 ) (8,487 ) (6,031 ) Cancelled/Forfeited (66 ) (2,690 ) (217 ) Outstanding December 31, 2017 12,633 13,991 18,235 Granted 4,134 15,157 5,779 Payments (5,977 ) (6,860 ) (4,526 ) Cancelled/Forfeited (213 ) (2,362 ) (2,583 ) Outstanding December 31, 2018 10,577 19,926 16,905 Granted 3,169 5,814 4,593 Payments (6,397 ) (9,429 ) (3,255 ) Cancelled/Forfeited (90 ) (1,598 ) (2,692 ) Outstanding December 31, 2019 7,259 14,713 15,551

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Change In Benefit Obligations, Change In Plan Assets, Funded Status, Amounts Recognized on Balance Sheet, and Amounts Recognized In Accumulated Other Comprehensive Income (Pretax)	The following tables summarize benefit costs, as well as the benefit obligations, plan assets, funded status and rate assumptions associated with pension and postretirement health care and life insurance benefit plans. Obligations and Funded Status (dollars in millions) Pension Health Care and Life At December 31, 2019 2018 2019 2018 Change in Benefit Obligations Beginning of year $ 19,567 $ 21,531 $ 16,364 $ 19,460 Service cost 247 284 96 127 Interest cost 695 690 629 615 Plan amendments — 230 (22 ) (8 ) Actuarial (gain) loss, net 2,860 (1,418 ) (414 ) (2,729 ) Benefits paid (1,248 ) (1,475 ) (984 ) (1,101 ) Curtailment and termination benefits — 181 — — Settlements paid (873 ) (456 ) — — End of year 21,248 19,567 15,669 16,364 Change in Plan Assets Beginning of year 17,816 19,175 1,175 1,119 Actual return on plan assets 3,385 (494 ) 103 (26 ) Company contributions 371 1,066 449 1,183 Benefits paid (1,248 ) (1,475 ) (984 ) (1,101 ) Settlements paid (873 ) (456 ) — — End of year 19,451 17,816 743 1,175 Funded Status End of year $ (1,797 ) $ (1,751 ) $ (14,926 ) $ (15,189 ) (dollars in millions) Pension Health Care and Life At December 31, 2019 2018 2019 2018 Amounts recognized on the balance sheet Noncurrent assets $ 5 $ 3 $ — $ — Current liabilities (67 ) (71 ) (603 ) (292 ) Noncurrent liabilities (1,735 ) (1,683 ) (14,323 ) (14,897 ) Total $ (1,797 ) $ (1,751 ) $ (14,926 ) $ (15,189 ) Amounts recognized in Accumulated Other Comprehensive Income (Pre-tax) Prior service cost (benefit) $ 524 $ 585 $ (3,749 ) $ (4,698 ) Total $ 524 $ 585 $ (3,749 ) $ (4,698 )
Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets	Information for pension plans with an accumulated benefit obligation in excess of plan assets follows: (dollars in millions) At December 31, 2019 2018 Projected benefit obligation $ 21,190 $ 19,510 Accumulated benefit obligation 21,134 19,461 Fair value of plan assets 19,388 17,757
Benefit or (Income) Cost Related to Pension and Postretirement Health Care and Life Insurance	The following table summarizes the components of net periodic benefit cost (income) related to our pension and postretirement health care and life insurance plans: (dollars in millions) Pension Health Care and Life Years Ended December 31, 2019 2018 2017 2019 2018 2017 Service cost - Cost of services $ 202 $ 230 $ 215 $ 78 $ 104 $ 116 Service cost - Selling, general and administrative expense 45 54 65 18 23 33 Service cost 247 284 280 96 127 149 Amortization of prior service cost (credit) 61 48 39 (971 ) (976 ) (949 ) Expected return on plan assets (1,130 ) (1,293 ) (1,262 ) (37 ) (44 ) (53 ) Interest cost 695 690 683 629 615 659 Remeasurement loss (gain), net 606 369 337 (480 ) (2,658 ) 546 Curtailment and termination benefits — 181 11 — — — Other components 232 (5 ) (192 ) (859 ) (3,063 ) 203 Total $ 479 $ 279 $ 88 $ (763 ) $ (2,936 ) $ 352
Other Pretax Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Income) Loss	Other pre-tax changes in plan assets and benefit obligations recognized in other comprehensive (income) loss are as follows: (dollars in millions) Pension Health Care and Life At December 31, 2019 2018 2017 2019 2018 2017 Prior service cost (benefit) $ — $ 230 $ — $ (22 ) $ (8 ) $ (544 ) Reversal of amortization items Prior service cost (benefit) (61 ) (48 ) (39 ) 971 976 949 Total recognized in other comprehensive loss (income) (pre-tax) $ (61 ) $ 182 $ (39 ) $ 949 $ 968 $ 405
Weighted Average Assumptions Used in Determining Benefit Obligations and Net Periodic Cost	The weighted-average assumptions used in determining benefit obligations follow: Pension Health Care and Life At December 31, 2019 2018 2019 2018 Discount Rate 3.30 % 4.40 % 3.20 % 4.30 % Rate of compensation increases 3.00 3.00 N/A N/A The weighted-average assumptions used in determining net periodic cost follow: Pension Health Care and Life At December 31, 2019 2018 2017 2019 2018 2017 Discount rate in effect for determining service cost 4.60 % 4.10 % 4.70 % 4.60 % 3.90 % 4.60 % Discount rate in effect for determining interest cost 3.80 3.40 3.40 4.00 3.20 3.50 Expected return on plan assets 6.80 7.00 7.70 4.30 4.80 4.50 Rate of compensation increases 3.00 3.00 3.00 N/A N/A N/A
Health Care Cost Trend Rates	The assumed health care cost trend rates are as follows: Health Care and Life At December 31, 2019 2018 2017 Healthcare cost trend rate assumed for next year 6.10 % 6.30 % 7.00 % Rate to which cost trend rate gradually declines 4.50 4.50 4.50 Year the rate reaches the level it is assumed to remain thereafter 2027 2027 2026
Effects of One Percentage Point Change in Assumed Health Care Cost Trend Rates	A one-percentage point change in the assumed health care cost trend rate would have the following effects: (dollars in millions) One-Percentage Point Increase Decrease Effect on 2019 service and interest cost $ 20 $ (21 ) Effect on postretirement benefit obligation as of December 31, 2019 626 (696 )
Fair Values for Plans by Asset Category	The fair values for the pension plans by asset category at December 31, 2019 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,529 $ 1,507 $ 22 $ — Equity securities 2,988 2,850 135 3 Fixed income securities U.S. Treasuries and agencies 1,986 1,768 218 — Corporate bonds 3,818 524 3,149 145 International bonds 1,355 25 1,304 26 Other 768 — 768 — Real estate 810 — — 810 Other Private equity 737 — — 737 Hedge funds 293 — 164 129 Total investments at fair value 14,284 6,674 5,760 1,850 Investments measured at NAV 5,167 Total $ 19,451 $ 6,674 $ 5,760 $ 1,850 The fair values for the pension plans by asset category at December 31, 2018 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,701 $ 1,694 $ 7 $ — Equity securities 2,253 2,220 20 13 Fixed income securities U.S. Treasuries and agencies 1,684 1,557 127 — Corporate bonds 3,645 124 3,244 277 International bonds 1,113 19 1,076 18 Other — — — — Real estate 727 — — 727 Other Private equity 664 — — 664 Hedge funds 459 — 373 86 Total investments at fair value 12,246 5,614 4,847 1,785 Investments measured at NAV 5,570 Total $ 17,816 $ 5,614 $ 4,847 $ 1,785 Health Care and Life Plans The fair values for the other postretirement benefit plans by asset category at December 31, 2019 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 220 $ 167 $ 53 $ — Equity securities 225 225 — — Fixed income securities U.S. Treasuries and agencies 28 28 — — Corporate bonds 76 76 — — International bonds 18 18 — — Total investments at fair value 567 514 53 — Investments measured at NAV 176 Total $ 743 $ 514 $ 53 $ — The fair values for the other postretirement benefit plans by asset category at December 31, 2018 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 471 $ 431 $ 40 $ — Equity securities 239 239 — — Fixed income securities U.S. Treasuries and agencies 24 24 — — Corporate bonds 96 96 — — International bonds 18 18 — — Total investments at fair value 848 808 40 — Investments measured at NAV 327 Total $ 1,175 $ 808 $ 40 $ —
Reconciliation of Beginning and Ending Balance of Plan Assets Measured at Fair Value	The following is a reconciliation of the beginning and ending balance of pension plan assets that are measured at fair value using significant unobservable inputs: (dollars in millions) Equity Securities Corporate Bonds International Bonds Real Estate Private Equity Hedge Funds Total Balance at January 1, 2018 $ 1 $ 104 $ 20 $ 627 $ 580 $ 185 $ 1,517 Actual gain (loss) on plan assets 1 (7 ) 3 134 25 — 156 Purchases (sales) 11 177 (5 ) (34 ) 59 62 270 Transfers out — 3 — — — (161 ) (158 ) Balance at December 31, 2018 13 277 18 727 664 86 1,785 Actual gain (loss) on plan assets 1 (1 ) (1 ) 30 32 — 61 Purchases (sales) (11 ) 18 9 53 41 116 226 Transfers out — (149 ) — — — (73 ) (222 ) Balance at December 31, 2019 $ 3 $ 145 $ 26 $ 810 $ 737 $ 129 $ 1,850
Expected Benefit Payments to Retirees	The benefit payments to retirees are expected to be paid as follows: (dollars in millions) Year Pension Benefits Health Care and Life 2020 $ 2,227 $ 961 2021 1,680 947 2022 1,620 930 2023 1,577 968 2024 1,072 951 2025 to 2029 5,248 4,569
Schedule of Recorded Severance Liability	The following table provides an analysis of our severance liability: (dollars in millions) Year Beginning of Year Charged to Expense Payments Other End of Year 2017 $ 656 $ 581 $ (564 ) $ (46 ) $ 627 2018 627 2,093 (560 ) (4 ) 2,156 2019 2,156 260 (1,847 ) (4 ) 565

Taxes (Tables)

Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Components of Income before Provision for Income Taxes	The components of income before provision (benefit) for income taxes are as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Domestic $ 21,655 $ 19,801 $ 19,645 Foreign 1,078 (178 ) 949 Total $ 22,733 $ 19,623 $ 20,594
Components of Provision for Income Taxes	The components of the provision (benefit) for income taxes are as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Current Federal $ 518 $ 2,187 $ 3,630 Foreign 221 267 200 State and Local 974 741 677 Total 1,713 3,195 4,507 Deferred Federal 1,150 175 (14,360 ) Foreign (13 ) 30 (66 ) State and Local 95 184 (37 ) Total 1,232 389 (14,463 ) Total income tax provision (benefit) $ 2,945 $ 3,584 $ (9,956 )
Schedule for Principal Reasons for Difference in Effective and Statutory Tax Rates	The following table shows the principal reasons for the difference between the effective income tax rate and the statutory federal income tax rate: Years Ended December 31, 2019 2018 2017 Statutory federal income tax rate 21.0 % 21.0 % 35.0 % State and local income tax rate, net of federal tax benefits 3.7 3.7 1.6 Preferred stock disposition (9.9 ) — — Affordable housing credit (0.4 ) (0.6 ) (0.6 ) Employee benefits including ESOP dividend (0.3 ) (0.3 ) (0.5 ) Impact of tax reform re-measurement — — (81.6 ) Internal restructure — (9.1 ) (0.6 ) Noncontrolling interests (0.5 ) (0.5 ) (0.6 ) Non-deductible goodwill 0.1 4.7 1.0 Other, net (0.7 ) (0.6 ) (2.0 ) Effective income tax rate 13.0 % 18.3 % (48.3 )%
Schedule of Cash Taxes Paid	The amounts of cash taxes paid by Verizon are as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Income taxes, net of amounts refunded $ 3,583 $ 2,213 $ 4,432 Employment taxes 1,044 1,066 1,207 Property and other taxes 1,551 1,598 1,737 Total $ 6,178 $ 4,877 $ 7,376
Schedule of Deferred Taxes	Deferred taxes arise because of differences in the book and tax bases of certain assets and liabilities. Significant components of deferred tax assets and liabilities are as follows: (dollars in millions) At December 31, 2019 2018 Deferred Tax Assets Employee benefits $ 5,048 $ 5,403 Tax loss and credit carry forwards 3,012 3,576 Other - assets 5,595 1,650 13,655 10,629 Valuation allowances (2,260 ) (2,741 ) Deferred tax assets 11,395 7,888 Deferred Tax Liabilities Spectrum and other intangible amortization 22,388 21,976 Depreciation 16,884 15,662 Other - liabilities 6,742 3,976 Deferred tax liabilities 46,014 41,614 Net deferred tax liability $ 34,619 $ 33,726
Reconciliation of Beginning and Ending Balance of Unrecognized Tax Benefits	A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows: (dollars in millions) 2019 2018 2017 Balance at January 1, $ 2,871 $ 2,355 $ 1,902 Additions based on tax positions related to the current year 149 160 219 Additions for tax positions of prior years 297 699 756 Reductions for tax positions of prior years (300 ) (248 ) (419 ) Settlements (58 ) (40 ) (42 ) Lapses of statutes of limitations (89 ) (55 ) (61 ) Balance at December 31, $ 2,870 $ 2,871 $ 2,355
Schedule of After Tax (Expenses) Benefits Related to Interest and Penalties in Provision for Income Taxes	We recognized the following net after-tax expenses related to interest and penalties in the provision for income taxes: Years Ended December 31, (dollars in millions) 2019 $ 35 2018 75 2017 77
Schedule of After Tax Accrual for Payment of Interest and Penalties in Consolidated Balance Sheet	The after-tax accruals for the payment of interest and penalties in the consolidated balance sheets are as follows: At December 31, (dollars in millions) 2019 $ 385 2018 348

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Summary of Operating Financial Information for Reportable Segments	The following tables provides operating financial information for our two reportable segments: (dollars in millions) 2019 Consumer Business Total Reportable Segments External Operating Revenues Service $ 65,384 $ — $ 65,384 Wireless equipment 18,048 — 18,048 Other 7,384 — 7,384 Global Enterprise — 10,815 10,815 Small and Medium Business — 11,447 11,447 Public Sector and Other — 5,922 5,922 Wholesale — 3,198 3,198 Intersegment revenues 240 61 301 Total Operating Revenues (1) 91,056 31,443 122,499 Cost of services 15,884 10,655 26,539 Cost of wireless equipment 18,219 4,733 22,952 Selling, general and administrative expense 16,639 8,188 24,827 Depreciation and amortization expense 11,353 4,105 15,458 Total Operating Expenses 62,095 27,681 89,776 Operating Income $ 28,961 $ 3,762 $ 32,723 (1) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $27.9 billion and $3.5 billion , respectively, for the year ended December 31, 2019 . (dollars in millions) 2018 Consumer Business Total Reportable Segments External Operating Revenues Service $ 64,207 $ — $ 64,207 Wireless equipment 18,874 — 18,874 Other 6,447 — 6,447 Global Enterprise — 11,197 11,197 Small and Medium Business — 10,732 10,732 Public Sector and Other — 5,830 5,830 Wholesale — 3,713 3,713 Intersegment revenues 234 62 296 Total Operating Revenues (1) 89,762 31,534 121,296 Cost of services 15,335 10,859 26,194 Cost of wireless equipment 18,763 4,560 23,323 Selling, general and administrative expense 15,701 7,689 23,390 Depreciation and amortization expense 11,952 4,258 16,210 Total Operating Expenses 61,751 27,366 89,117 Operating Income $ 28,011 $ 4,168 $ 32,179 (1) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $28.1 billion and $3.4 billion , respectively, for the year ended December 31, 2018 . (dollars in millions) 2017 Consumer Business Total Reportable Segments External Operating Revenues Service $ 63,769 $ — $ 63,769 Wireless equipment 17,292 — 17,292 Other 5,735 — 5,735 Global Enterprise — 11,444 11,444 Small and Medium Business — 9,793 9,793 Public Sector and Other — 5,652 5,652 Wholesale — 3,978 3,978 Intersegment revenues 258 46 304 Total Operating Revenues (1) 87,054 30,913 117,967 Cost of services 14,981 11,094 26,075 Cost of wireless equipment 17,713 4,434 22,147 Selling, general and administrative expense 17,292 7,448 24,740 Depreciation and amortization expense 11,308 4,483 15,791 Total Operating Expenses 61,294 27,459 88,753 Operating Income $ 25,760 $ 3,454 $ 29,214 (1) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $29.3 billion and $1.6 billion , respectively, for the year ended December 31, 2017 . The following table provides Fios revenues for our two reportable segments: (dollars in millions) Years Ended December 31, 2019 2018 2017 Consumer $ 11,175 $ 11,056 $ 10,903 Business 967 883 788 Total Fios revenue $ 12,142 $ 11,939 $ 11,691 The following table provides Wireless service revenue for our reportable segments and includes intersegment activity: (dollars in millions) Years Ended December 31, 2019 2018 2017 Consumer $ 53,791 $ 52,459 $ 51,954 Business 11,188 10,484 11,093 Total Wireless service revenue $ 64,979 $ 62,943 $ 63,047 Our segments and their principal activities consist of the following: Segment Description Verizon Consumer Group Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the United States under the Verizon brand and through wholesale and other arrangements. Our wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over our 100% fiber-optic network under the Fios brand and over a traditional copper-based network to customers who are not served by Fios. Verizon Business Group Our Business segment provides wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various IoT services and products. We provide these products and services to businesses, government customers and wireless and wireline carriers across the U.S. and select products and services to customers around the world.
Summary of Reconciliation of Segment Operating Revenues	A reconciliation of the reportable segment operating revenues to consolidated operating revenues is as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Operating Revenues Total reportable segments $ 122,499 $ 121,296 $ 117,967 Corporate and other 9,812 9,936 8,098 Reconciling items: Operating results from divested businesses (Note 3) — — 368 Eliminations (443 ) (369 ) (399 ) Consolidated Operating Revenues $ 131,868 $ 130,863 $ 126,034
Summary of Reconciliation of Segment Operating Income	A reconciliation of the total reportable segments’ operating income to consolidated income before provision for income taxes is as follows: (dollars in millions) Years Ended December 31, 2019 2018 2017 Operating Income Total reportable segments $ 32,723 $ 32,179 $ 29,214 Corporate and other (1,403 ) (1,326 ) (1,119 ) Reconciling items: Severance charges (204 ) (2,157 ) (497 ) Other components of net periodic pension and benefit (charges) credits (Note 11 ) (813 ) (823 ) (800 ) Net gain on sale of divested businesses (Note 3) — — 1,774 Acquisition and integration related charges (Note 3) — (553 ) (884 ) Gain on spectrum license transactions (Note 3) — — 270 Operating results from divested businesses — — 149 Impairment charges (186 ) (4,591 ) — Product realignment charges — (451 ) (682 ) Net gain from dispositions of assets and businesses 261 — — Consolidated operating income 30,378 22,278 27,425 Equity in losses of unconsolidated businesses (15 ) (186 ) (77 ) Other income (expense), net (2,900 ) 2,364 (2,021 ) Interest expense (4,730 ) (4,833 ) (4,733 ) Income Before (Provision) Benefit For Income Taxes $ 22,733 $ 19,623 $ 20,594

Equity and Comprehensive Inco_2

Equity and Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
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 gains (losses) on cash flow hedges Unrealized gains (losses) 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 245 818 10 327 1,400 Amounts reclassified to net income — (849 ) (24 ) (541 ) (1,414 ) Net other comprehensive income (loss) 245 (31 ) (14 ) (214 ) (14 ) Balance at December 31, 2017 (468 ) (111 ) 32 3,206 2,659 Opening balance sheet adjustment (Note 1) (15 ) (24 ) (13 ) 682 630 Adjusted opening balance (483 ) (135 ) 19 3,888 3,289 Other comprehensive income (loss) (117 ) (574 ) — (164 ) (855 ) Amounts reclassified to net income — 629 1 (694 ) (64 ) Net other comprehensive income (loss) (117 ) 55 1 (858 ) (919 ) Balance at December 31, 2018 (600 ) (80 ) 20 3,030 2,370 Other comprehensive income (loss) 16 (699 ) 8 — (675 ) Amounts reclassified to net income — (37 ) (1 ) (659 ) (697 ) Net other comprehensive income (loss) 16 (736 ) 7 (659 ) (1,372 ) Balance at December 31, 2019 $ (584 ) $ (816 ) $ 27 $ 2,371 $ 998

Additional Financial Informat_2

Additional Financial Information (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Income Statement Information	The following tables provide additional financial information related to our consolidated financial statements: Income Statement Information (dollars in millions) Years Ended December 31, 2019 2018 2017 Depreciation expense $ 14,371 $ 15,186 $ 14,741 Interest costs on debt balances 5,221 5,399 5,256 Net amortization of debt discount 165 174 155 Capitalized interest costs (656 ) (740 ) (678 ) Advertising expense 3,071 2,682 2,643 Other income (expense), net Interest income $ 121 $ 94 $ 82 Other components of net periodic benefit (cost) income 627 3,068 (11 ) Early debt extinguishment costs (3,604 ) (725 ) (1,983 ) Other, net (44 ) (73 ) (109 ) $ (2,900 ) $ 2,364 $ (2,021 )
Balance Sheet Information	Balance Sheet Information (dollars in millions) At December 31, 2019 2018 Prepaid expenses and other Prepaid taxes $ 2,438 $ 348 Deferred contract costs 2,578 2,083 Restricted cash 1,221 1,047 Other prepaid expense and other 1,791 1,975 $ 8,028 $ 5,453 Accounts payable and accrued liabilities Accounts payable $ 7,725 $ 7,232 Accrued expenses 5,984 5,948 Accrued vacation, salaries and wages 4,885 6,268 Interest payable 1,441 1,570 Taxes payable 1,771 1,483 $ 21,806 $ 22,501 Other current liabilities Dividends payable $ 2,566 $ 2,512 Contract liability 4,651 4,207 Other 1,807 1,520 $ 9,024 $ 8,239
Cash Flow Information	Cash Flow Information (dollars in millions) Years Ended December 31, 2019 2018 2017 Cash Paid Interest, net of amounts capitalized $ 4,714 $ 4,408 $ 4,369 Income taxes, net of amounts refunded 3,583 2,213 4,432 Other, net Cash Flows from Operating Activities Changes in device payment plan agreement non-current receivables $ 23 $ (509 ) $ (579 ) Early debt extinguishment costs 3,604 725 1,983 Other, net (228 ) 3 (728 ) $ 3,399 $ 219 $ 676 Other, net Cash Flows from Financing Activities Net debt related costs $ (1,797 ) $ (141 ) $ (3,599 ) Change in short-term obligations, excluding current maturities — (790 ) (170 ) Other, net (1,120 ) (893 ) (670 ) $ (2,917 ) $ (1,824 ) $ (4,439 )

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	(dollars in millions, except per share amounts) Quarter Ended First Quarter Second Quarter Third Quarter Fourth Quarter Full Year 2019 Operating Revenues $ 32,128 $ 32,071 $ 32,894 $ 34,775 $ 131,868 Operating Income 7,709 7,850 8,180 6,639 30,378 Net Income 5,160 4,074 5,337 5,217 19,788 Net Income Attributable to Verizon 5,032 3,944 5,194 5,095 19,265 Basic Earnings Per Share Attributable to Verizon (1) $ 1.22 $ 0.95 $ 1.26 $ 1.23 $ 4.66 Diluted Earnings Per Share Attributable to Verizon (1) $ 1.22 $ 0.95 $ 1.25 $ 1.23 $ 4.65 2018 Operating Revenues $ 31,772 $ 32,203 $ 32,607 $ 34,281 $ 130,863 Operating Income 7,349 6,617 7,675 637 22,278 Net Income 4,666 4,246 5,062 2,065 16,039 Net Income Attributable to Verizon 4,545 4,120 4,924 1,939 15,528 Basic Earnings Per Share Attributable to Verizon (1) $ 1.11 $ 1.00 $ 1.19 $ 0.47 $ 3.76 Diluted Earnings Per Share Attributable to Verizon (1) $ 1.11 $ 1.00 $ 1.19 $ 0.47 $ 3.76 (1) Net income attributable to Verizon per common share is computed independently for each quarter and the sum of the quarters may not equal the annual amount. Results of operations for 2019 and 2018 include the following after-tax charges (credits) attributable to Verizon: (dollars in millions) 2019 2018 First Quarter Second Quarter Third Quarter Fourth Quarter First Quarter Second Quarter Third Quarter Fourth Quarter Severance, pension and benefits charges (credits) $ (71 ) $ — $ 215 $ 108 $ — $ 250 $ (335 ) $ 108 Early debt redemption costs — 1,140 — 1,520 184 — 352 — Acquisition and integration related charges — — — — 82 92 103 142 Product realignment charges — — — — — 509 — — Net gain from dispositions of assets and businesses — — (224 ) — — — — — Disposition of preferred stock — — — (2,247 ) — — — — Impairment charges — — — 214 — — — 4,527 Historical Wireless legal entity restructuring — — — — — — — (2,065 )

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Narrative (Detail) shares in Millions, $ in Millions

9 Months Ended

12 Months Ended

Dec. 31, 2019USD ($)plan

Dec. 31, 2019USD ($)

Dec. 31, 2019USD ($)payment_plan

Dec. 31, 2019USD ($)

Dec. 31, 2019USD ($)shares

Dec. 31, 2019USD ($)plan

Dec. 31, 2019USD ($)segment

Dec. 31, 2018USD ($)shares

Dec. 31, 2017USD ($)shares

Jan. 01, 2020USD ($)

Jan. 01, 2019USD ($)

Jan. 01, 2018USD ($)

Jan. 01, 2017USD ($)

Organization And Summary Of Significant Accounting Policies [Line Items]

Number of reportable segments

2

2

2

Number of payment plans | payment_plan

2

Restricted stock units outstanding to purchase shares included in diluted earnings per common share (in shares) | shares

2

4

5

(Decrease) increase in depreciation expenses

$ (14,371)

$ (15,186)

$ (14,741)

Operating lease liability

$ 21,654

$ 21,654

$ 21,654

21,654

$ 21,654

$ 21,654

$ 21,654

Operating lease right-of-use assets

$ 22,694

$ 22,694

$ 22,694

$ 22,694

$ 22,694

$ 22,694

$ 22,694

$ 23,241

Accounting Standards Update 2016-02

Organization And Summary Of Significant Accounting Policies [Line Items]

Operating lease liability

22,100

Operating lease right-of-use assets

23,241

Property Plant and Equipment by Estimated Useful Life | Cable Fiber and Telephone Poles

Organization And Summary Of Significant Accounting Policies [Line Items]

(Decrease) increase in depreciation expenses

$ 271

Retained Earnings

Organization And Summary Of Significant Accounting Policies [Line Items]

Cumulative effect of applying new accounting standards, net of tax

(410)

$ (2,232)

$ 0

Retained Earnings | Accounting Standards Update 2016-02

Organization And Summary Of Significant Accounting Policies [Line Items]

Cumulative effect of applying new accounting standards, net of tax

$ (410)

Non-Network Internal-Use Software | Minimum

Organization And Summary Of Significant Accounting Policies [Line Items]

Useful life for finite-lived intangible assets, years

3 years

Non-Network Internal-Use Software | Maximum

Organization And Summary Of Significant Accounting Policies [Line Items]

Useful life for finite-lived intangible assets, years

7 years

Fixed Term Plan

Organization And Summary Of Significant Accounting Policies [Line Items]

Contract term

24 months

Device Payment Plan

Organization And Summary Of Significant Accounting Policies [Line Items]

Contract term

24 months

Subsequent event | Scenario, Forecast | Minimum | Retained Earnings | Accounting Standards Update 2016-13

Organization And Summary Of Significant Accounting Policies [Line Items]

Cumulative effect of applying new accounting standards, net of tax

$ 150

Cumulative effect of applying new accounting standards, pre-tax

200

Subsequent event | Scenario, Forecast | Maximum | Retained Earnings | Accounting Standards Update 2016-13

Organization And Summary Of Significant Accounting Policies [Line Items]

Cumulative effect of applying new accounting standards, net of tax

225

Cumulative effect of applying new accounting standards, pre-tax

$ 300

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 2,594	$ 2,745
Increase of cash and cash equivalents	(151)
Cash, cash equivalents and restricted cash	3,917	3,916	$ 2,888	$ 3,177
Increase (decrease) in cash, cash equivalents and restricted cash	1	1,028	$ (289)
Prepaid expenses and other
Cash and Cash Equivalents [Line Items]
Restricted cash	1,221	1,047
Increase in restricted cash	174
Other Assets
Cash and Cash Equivalents [Line Items]
Restricted cash	102	$ 124
Increase in restricted cash	$ (22)

Description of Business and S_6

Description of Business and Summary of Significant Accounting Policies - Schedule of Cumulative Effect for Adoption of New Accounting Pronouncement (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid expenses and other	$ 8,028	$ 5,124	$ 5,453
Operating lease right-of-use assets	22,694	23,241
Other assets	10,141	9,669	11,717
Accounts payable and accrued liabilities	21,806	22,498	22,501
Other current liabilities	9,024	8,237	8,239
Current operating lease liabilities	3,261	2,931
Deferred income taxes	34,703	33,934	33,795
Non-current operating lease liabilities	18,393	19,203
Other liabilities	12,264	12,107	13,922
Retained earnings	53,147	43,952	43,542	$ 37,867	$ 35,635
Accumulated other comprehensive income	998		2,370	3,289	2,659
Noncontrolling interests	$ 1,440	1,566	$ 1,565	1,635	$ 1,591
Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings				2,890
Accumulated other comprehensive income				0
Noncontrolling interests				44
ASU 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings				(652)
Accumulated other comprehensive income				652
Noncontrolling interests				0
Other ASUs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings				(6)
Accumulated other comprehensive income				(22)
Noncontrolling interests				$ 0
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid expenses and other		(329)
Operating lease right-of-use assets		23,241
Other assets		(2,048)
Accounts payable and accrued liabilities		(3)
Other current liabilities		(2)
Current operating lease liabilities		2,931
Deferred income taxes		139
Non-current operating lease liabilities		19,203
Other liabilities		(1,815)
Retained earnings		410
Noncontrolling interests		$ 1

Revenues and Contract Costs - N

Revenues and Contract Costs - Narrative (Details)	9 Months Ended	12 Months Ended
	Dec. 31, 2019plan	Dec. 31, 2019	Dec. 31, 2019USD ($)	Dec. 31, 2019plan	Dec. 31, 2019segment	Dec. 31, 2018USD ($)
Disaggregation of Revenue [Line Items]
Percentage of retail postpaid connections with fixed-term service plans	12.00%	12.00%	12.00%	12.00%	12.00%	14.00%
Number of reportable segments	2			2	2
Revenues from leasing arrangements, captive reinsurance arrangements and interest on equipment financed			$ 3,100,000,000			$ 4,500,000,000
Description of timing		Contracts for wireless services are generally either month-to-month and cancellable at any time (typically under a device payment plan) or contain terms ranging from greater than one month to up to two years (typically under a fixed-term plan).
Contract assets impairment charge			113,000,000			116,000,000
Contract with customer asset period increase (decrease)			(147,000,000)			(167,000,000)
Contract with customer liability period increase (decrease)			(364,000,000)			491,000,000
Revenue recognized from previously recognized contract liability			4,200,000,000			3,900,000,000
Amortization of deferred contract costs			2,700,000,000			2,000,000,000
Deferred contract costs, impairment charges			0
Media Business
Disaggregation of Revenue [Line Items]
Revenue from contract with customer			$ 7,500,000,000			$ 7,700,000,000
Wireless postpaid contracts
Disaggregation of Revenue [Line Items]
Percentage of month-to-month contracts of total service contracts	88.00%	88.00%	88.00%	88.00%	88.00%	86.00%
Wireline Consumer and Small and Medium Business contracts
Disaggregation of Revenue [Line Items]
Percentage of month-to-month contracts of total service contracts	61.00%	61.00%	61.00%	61.00%	61.00%	56.00%
Reseller Arrangements
Disaggregation of Revenue [Line Items]
Description of timing		Reseller arrangements generally include a stated contract term, which typically extends longer than two years and, in some cases, include a periodic minimum revenue commitment over the contract term for which revenues will be recognized in future periods.
Consumer
Disaggregation of Revenue [Line Items]
Contract term		2 years
Business
Disaggregation of Revenue [Line Items]
Description of timing		These contracts have varying terms spanning over approximately five years
Minimum
Disaggregation of Revenue [Line Items]
Amortization period	2 years	2 years	2 years	2 years	2 years
Maximum
Disaggregation of Revenue [Line Items]
Amortization period	5 years	5 years	5 years	5 years	5 years
Maximum | Business
Disaggregation of Revenue [Line Items]
Contract term		12 months

Revenues and Contract Costs - R

Revenues and Contract Costs - Reconciliation of Impact of Adoption of Topic 606 on Financial Statement (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Revenues
Operating Revenues	$ 34,775	$ 32,894	$ 32,071	$ 32,128	$ 34,281	$ 32,607	$ 32,203	$ 31,772	$ 131,868	$ 130,863	$ 126,034
Selling, general and administrative expense									29,896	31,083	28,592
Equity in losses of unconsolidated businesses									(15)	(186)	(77)
Income Before Provision For Income Taxes									22,733	19,623	20,594
Provision for income taxes									(2,945)	(3,584)	9,956
Net income attributable to noncontrolling interests									523	511	449
Net income attributable to Verizon	5,095	5,194	3,944	5,032	1,939	4,924	4,120	4,545	19,265	15,528	30,101
Net Income	$ 5,217	$ 5,337	$ 4,074	$ 5,160	$ 2,065	$ 5,062	$ 4,246	$ 4,666	19,788	16,039	30,550
Balances without adoption of Topic 606
Operating Revenues
Operating Revenues										130,438
Selling, general and administrative expense										32,588
Equity in losses of unconsolidated businesses										(187)
Income Before Provision For Income Taxes										17,771
Provision for income taxes										(3,104)
Net income attributable to noncontrolling interests										481
Net income attributable to Verizon										14,186
Net Income										14,667
Adjustments | Topic 606
Operating Revenues
Operating Revenues										425
Selling, general and administrative expense										(1,505)
Equity in losses of unconsolidated businesses										1
Income Before Provision For Income Taxes										1,852
Provision for income taxes										(480)
Net income attributable to noncontrolling interests										30
Net income attributable to Verizon										1,342
Net Income										1,372
Service and other
Operating Revenues
Operating Revenues									110,305	108,605	107,145
Service and other | Balances without adoption of Topic 606
Operating Revenues
Operating Revenues										109,964
Service and other | Adjustments | Topic 606
Operating Revenues
Operating Revenues										(1,359)
Wireless equipment
Operating Revenues
Operating Revenues									21,563	22,258	18,889
Cost of services and equipment									22,954	23,323	22,147
Wireless equipment | Balances without adoption of Topic 606
Operating Revenues
Operating Revenues										20,474
Cost of services and equipment										23,189
Wireless equipment | Adjustments | Topic 606
Operating Revenues
Operating Revenues										1,784
Cost of services and equipment										134
Service
Operating Revenues
Cost of services and equipment									$ 31,772	32,185	$ 30,916
Service | Balances without adoption of Topic 606
Operating Revenues
Cost of services and equipment										32,240
Service | Adjustments | Topic 606
Operating Revenues
Cost of services and equipment										$ (55)

Revenues and Contract Costs -_2

Revenues and Contract Costs - Revenue Performance Obligations (Details) $ in Billions	Dec. 31, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 20.2
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 9.4
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1.6
Revenue, remaining performance obligation, expected timing of satisfaction, period
Customer Contracts that Have Contract Minimum over Total Contract Term | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 3.4
Revenue, remaining performance obligation, expected timing of satisfaction, period	5 years

Revenues and Contract Costs - S

Revenues and Contract Costs - Schedule of Receivables from Contracts with Customers (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Revenue from Contract with Customer [Abstract]
Receivables	$ 12,078	$ 12,104	$ 12,073
Device payment plan agreement receivables	$ 11,741	$ 8,940	$ 1,461

Revenues and Contract Costs - C

Revenues and Contract Costs - Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Disaggregation of Revenue [Line Items]
Contract asset	$ 1,150	$ 1,003	$ 1,170
Contract liability	5,307	4,943	$ 4,452
Prepaid expenses and other
Disaggregation of Revenue [Line Items]
Contract asset	848	757
Other Assets
Disaggregation of Revenue [Line Items]
Contract asset	302	246
Other current liabilities
Disaggregation of Revenue [Line Items]
Contract liability	4,651	4,207
Other liabilities
Disaggregation of Revenue [Line Items]
Contract liability	$ 656	$ 736

Revenues and Contract Costs -_3

Revenues and Contract Costs - Schedule of Cost Incurred to Obtain or Fulfill Contracts with Customers (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 4,489	$ 3,895
Prepaid expenses and other
Capitalized Contract Cost [Line Items]
Deferred contract costs	2,578	2,083
Other Assets
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 1,911	$ 1,812

Acquisitions and Divestitures -

Acquisitions and Divestitures - Spectrum License Transactions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)auctionLicense	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Gain on sale of licenses	$ 0	$ 0	$ 270
Number of millimeter wave spectrum license auctions participated | auction	2
Payments for deposits	$ 898	$ 1,429	583
Affiliates of AT&T Inc. | AWS and PCS spectrum licenses
Business Acquisition [Line Items]
Intangible assets acquired			1,000
Affiliates of Sprint Corporation | PCS spectrum licenses
Business Acquisition [Line Items]
Intangible assets acquired			132
Affiliates of T-Mobile USA, Inc. | AWS and PCS spectrum licenses
Business Acquisition [Line Items]
Intangible assets acquired			414
Selling, general and administrative expense | Affiliates of AT&T Inc. | AWS and PCS spectrum licenses
Business Acquisition [Line Items]
Gain on sale of licenses			126
Selling, general and administrative expense | Affiliates of T-Mobile USA, Inc. | AWS and PCS spectrum licenses
Business Acquisition [Line Items]
Gain on sale of licenses			$ 143
Spectrum Licenses, 24 GHz
Business Acquisition [Line Items]
Number of licenses acquired | License	9
Spectrum Licenses, 28 GHz
Business Acquisition [Line Items]
Number of licenses acquired | License	1,066
Spectrum Licenses
Business Acquisition [Line Items]
Payments for deposits	$ 521

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Acquisition of AOL Inc. (Details) - AOL Inc - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Jun. 23, 2015	Oct. 31, 2018	May 31, 2015
Business Acquisition [Line Items]
Business acquisition, share price (in USD per share)			$ 50
Business acquisition, purchase price in cash	$ 3,800
Number of shares exercised under appraisal rights of Delaware law	6.6
Payments for legal settlements		$ 219

Acquisitions and Divestitures_3

Acquisitions and Divestitures - XO Holdings (Details) - USD ($) $ in Millions	1 Months Ended			3 Months Ended	12 Months Ended
	Jan. 31, 2018	Apr. 30, 2017	Feb. 28, 2017	Mar. 31, 2017	Dec. 31, 2015	Dec. 31, 2019	Apr. 01, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill						$ 24,389	$ 24,635	$ 24,635	$ 24,614	$ 29,172
XO Holdings
Business Acquisition [Line Items]
Business acquisition consideration		$ 493	$ 1,500
Business acquisition, purchase price in cash				$ 320	$ 100
Purchase of asset, deferred tax liability recognized	$ 110
Purchase of assets, other liabilities acquired	58
Property, plant, and equipment acquired		1,200
Goodwill		120
Other intangible a acquired		$ 194
Wireless Licenses | XO Holdings
Business Acquisition [Line Items]
Intangible assets acquired	$ 657

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Acquisition of Yahoo! Inc.'s Operating Business (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Feb. 28, 2017	Jul. 31, 2016	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Acquisition related integration costs						$ 0	$ 553	$ 884
Yahoo! Inc.
Business Acquisition [Line Items]
Business acquisition, purchase price in cash	$ 4,673	$ 4,673		$ 4,480	$ 4,830
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%
Business acquisition consideration	$ 4,711	$ 4,711	$ 4,700
Cash acquired			230
Acquisition and integration related charges							473	762
Acquisition related severance costs							273	526
Acquisition related integration costs							$ 195	166
Acquisition related transaction costs								$ 70
Equity Awards | Yahoo! Inc.
Business Acquisition [Line Items]
Outstanding restricted stock units to be awarded to employees who transferred from yahoo			$ 1,000

Acquisitions and Divestitures_5

Acquisitions and Divestitures - Summary of Consideration to Shareholders and Identification of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Feb. 28, 2017	Jul. 31, 2016	Jun. 30, 2018	Dec. 31, 2019	Apr. 01, 2019	Mar. 31, 2019	Dec. 31, 2018
Assets acquired:
Goodwill		$ 29,172					$ 24,389	$ 24,635	$ 24,635	$ 24,614
Yahoo! Inc.
Business Acquisition [Line Items]
Cash acquired			$ 230
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash payment to Yahoo’s equity holders	$ 4,673	4,673		$ 4,480	$ 4,830
Estimated liabilities to be paid	38	38
Total consideration	4,711	4,711	$ 4,700
Assets acquired:
Goodwill	2,144	1,929				$ 2,144
Intangible assets subject to amortization	1,874	1,873				1,874
Property, plant, and equipment	1,799	1,805				1,799
Other	1,460	1,332				1,460
Total assets acquired	7,277	6,939				7,277
Liabilities assumed:
Total liabilities assumed	2,516	2,178				2,516
Net assets acquired	4,761	4,761				4,761
Noncontrolling interest	(50)	(50)				(50)
Total consideration	$ 4,711	$ 4,711				4,711
Measurement-period adjustments
Cash payment to Yahoo’s equity holders, adjustments						0
Estimated liabilities to be paid, adjustments						0
Total consideration, adjustments						0
Goodwill, adjustments						215
Intangible assets subject to amortization, adjustments						1
Property, plant, and equipment, adjustments						(6)
Other, adjustments						128
Total assets acquired, adjustments						338
Total liabilities assumed, adjustments						338
Net assets acquired:, adjustments						0
Noncontrolling interest, adjustments						$ 0

Acquisitions and Divestitures_6

Acquisitions and Divestitures - Data Center Sale (Details) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2016USD ($)Site	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	May 31, 2017Site
Business Acquisition [Line Items]
Proceeds from dispositions of businesses		$ 28	$ 0	$ 3,614
Net gain/(loss) on sale of divested businesses		$ 0	$ 0	1,774
Data Center Sale with Equinix
Business Acquisition [Line Items]
Proceeds from dispositions of businesses	$ 3,600
United States and Latin America | Data Center Sale with Equinix
Business Acquisition [Line Items]
Number of data center sites sold | Site	23				23
Selling, general and administrative expense | Data Center Sale with Equinix
Business Acquisition [Line Items]
Net gain/(loss) on sale of divested businesses				$ 1,800

Acquisitions and Divestitures_7

Acquisitions and Divestitures - Straight Path (Details) - Straight Path - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Feb. 28, 2018	May 31, 2017	Dec. 31, 2018
Business Acquisition [Line Items]
Business acquisition consideration		$ 3,100
Business acquisition, share price (in USD per share)		$ 184
Payments to acquire assets		$ 736
Number of shares issued related to assets purchase	49
Equity issued related to assets purchase	$ 2,400
Purchase of asset, deferred tax liability recognized	1,400
Wireless Licenses
Business Acquisition [Line Items]
Intangible assets acquired	$ 4,500		$ 4,500

Acquisitions and Divestitures_8

Acquisitions and Divestitures - WideOpenWest, Inc. (Details) - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2017	Aug. 31, 2017
WideOpenWest, Inc.
Business Acquisition [Line Items]
Business acquisition consideration	$ 226	$ 275

Acquisitions and Divestitures_9

Acquisitions and Divestitures - Other (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Combinations [Abstract]
Net gain from dispositions of assets and businesses	$ 261	$ 0	$ 0
Net gain from dispositions of assets and businesses	$ (94)	$ 0	$ 1,774

Wireless Licenses, Goodwill a_3

Wireless Licenses, Goodwill and Other Intangible Assets - Schedule of Carrying Amount of Wireless Licenses (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Indefinite-lived Intangible Assets [Line Items]
Wireless licenses	$ 95,059	$ 94,130
Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Wireless licenses	$ 95,059	$ 94,130

Wireless Licenses, Goodwill a_4

Wireless Licenses, Goodwill and Other Intangible Assets - Narrative (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended	12 Months Ended
	Feb. 28, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Apr. 01, 2019	Mar. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Capitalized interest costs					$ 656	$ 740	$ 678
Goodwill		$ 24,389	$ 24,614	$ 24,389	24,389	24,614	29,172	$ 24,635	$ 24,635
Media goodwill impairment		186	4,600	186	186	4,591	$ 0
Goodwill impairment, after-tax		176	4,500
Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Wireless licenses under development		$ 6,200	$ 8,600	$ 6,200	6,200	8,600
Capitalized interest costs					$ 321	515
Average remaining renewal period of wireless license portfolio (in years)					4 years 7 months 6 days
Straight Path | Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Intangible assets acquired	$ 4,500					4,500
NextLink | Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Intangible assets acquired						$ 657

Wireless Licenses, Goodwill a_5

Wireless Licenses, Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions	Apr. 01, 2019	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Beginning balance	$ 24,635		$ 24,614		$ 24,635	$ 24,614	$ 29,172
Acquisitions			20		2		148
Reclassifications, adjustments and other			1		(62)		(115)
Media goodwill impairment		$ (186)		$ (4,600)	(186)	(186)	(4,591)	$ 0
Ending balance	24,635	24,389	24,635	24,614	24,389	24,389	24,614	29,172
Goodwill accumulated impairment		4,800		4,600	4,800	4,800	4,600
Operating Segments | Consumer
Goodwill [Roll Forward]
Beginning balance					17,104
Reclassifications, adjustments and other					0
Reporting Unit reallocation (1)	17,104
Ending balance	17,104	17,104			17,104	17,104
Operating Segments | Business
Goodwill [Roll Forward]
Beginning balance					7,269
Acquisitions					2
Reclassifications, adjustments and other					(2)
Reporting Unit reallocation (1)	7,269
Ending balance	7,269	7,269			7,269	7,269
Operating Segments | Wireless
Goodwill [Roll Forward]
Beginning balance	18,397		18,397			18,397	18,397
Acquisitions			0				0
Reclassifications, adjustments and other			0				0
Media goodwill impairment							0
Reporting Unit reallocation (1)	(18,397)
Ending balance			18,397	18,397			18,397	18,397
Operating Segments | Wireline
Goodwill [Roll Forward]
Beginning balance	3,892		3,871			3,871	3,955
Acquisitions			20				(77)
Reclassifications, adjustments and other			1				(7)
Media goodwill impairment							0
Reporting Unit reallocation (1)	(3,892)
Ending balance			3,892	3,871			3,871	3,955
Other
Goodwill [Roll Forward]
Beginning balance	2,346		2,346		262	2,346	6,820
Acquisitions			0		0		225
Reclassifications, adjustments and other			0		(60)		(108)
Media goodwill impairment					(186)		(4,591)
Reporting Unit reallocation (1)	(2,084)
Ending balance	$ 262	$ 16	$ 2,346	$ 2,346	$ 16	$ 16	$ 2,346	$ 6,820

Wireless Licenses, Goodwill a_6

Wireless Licenses, Goodwill and Other Intangible Assets - Composition of Other Intangible Assets, Net (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 26,393	$ 24,542
Accumulated Amortization	(16,895)	(14,767)
Net Amount	9,498	9,775
Customer lists
Finite-Lived Intangible Assets [Line Items]
Gross Amount	3,896	3,951
Accumulated Amortization	(1,511)	(1,121)
Net Amount	$ 2,385	2,830
Customer lists | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	8 years
Customer lists | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	13 years
Non-Network Internal-Use Software
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 20,530	18,603
Accumulated Amortization	(14,418)	(12,785)
Net Amount	$ 6,112	5,818
Non-Network Internal-Use Software | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	3 years
Non-Network Internal-Use Software | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	7 years
Other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 1,967	1,988
Accumulated Amortization	(966)	(861)
Net Amount	$ 1,001	$ 1,127
Other | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	2 years
Other | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	25 years

Wireless Licenses, Goodwill a_7

Wireless Licenses, Goodwill and Other Intangible Assets - Amortization Expense for Other Intangible Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for other intangible assets	$ 2,311	$ 2,217	$ 2,213

Wireless Licenses, Goodwill a_8

Wireless Licenses, Goodwill and Other Intangible Assets - Estimated Future Amortization Expense for Other Intangible Assets (Detail) $ in Millions	Dec. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 2,235
2021	1,931
2022	1,651
2023	1,317
2024	$ 968

Property, Plant and Equipment_2

Property, Plant and Equipment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 265,734	$ 252,835
Less accumulated depreciation	173,819	163,549
Property, plant and equipment, net	91,915	89,286
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	594	807
Buildings and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 31,216	$ 30,468
Buildings and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	7 years	7 years
Buildings and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	45 years	45 years
Central office and other network equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 152,733	$ 147,250
Central office and other network equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years	3 years
Central office and other network equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	50 years	50 years
Cable, poles and conduit
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 52,658	$ 49,859
Cable, poles and conduit | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	7 years	7 years
Cable, poles and conduit | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	50 years	50 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 9,072	$ 8,580
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	5 years	5 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	20 years	20 years
Work in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 9,234	$ 6,362
Furniture, vehicles and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 10,227	$ 9,509
Furniture, vehicles and other | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years	3 years
Furniture, vehicles and other | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	20 years	20 years

Leasing Arrangements - Addition

Leasing Arrangements - Additional Information (Details) $ in Billions	Jul. 23, 2019USD ($)option	Mar. 31, 2015USD ($)Lease	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Leases renewal term			25 years
Contractually obligated lease payments for operating leases not yet commenced			$ 1.9
Gross proceeds of sale-leaseback transaction	$ 1
Sale-leaseback transaction, lease terms	P2Y
Sale-leaseback transaction, number of renewal options | option	4
Sale-leaseback transaction, renewal term	3 months
Minimum
Lessee, Lease, Description [Line Items]
Leases remaining lease term			1 year
Maximum
Lessee, Lease, Description [Line Items]
Leases remaining lease term			28 years
Tower Monetization Transaction
Lessee, Lease, Description [Line Items]
Number of towers subject to failed sale leaseback | Lease		11,300
Proceeds from failed sale lease back		$ 5
Minimum number of years to sublease capacity on towers		10 years

Leasing Arrangements - Componen

Leasing Arrangements - Components of Net Lease Cost (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 4,746
Amortization of right-of-use assets	330
Interest on lease liabilities	38
Short-term lease cost	40
Variable lease cost	218
Sublease income	(275)
Total net lease cost	5,097
Gain on sale and leaseback transaction, net	$ (391)

Leasing Arrangements - Suppleme

Leasing Arrangements - Supplemental Disclosure for Statement of Cash Flows related to Operating and Finance Leases (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating cash flows for operating leases	$ (4,392)
Operating cash flows for finance leases	(38)
Financing cash flows for finance leases	(352)
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	3,510
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 564

Leasing Arrangements - Supple_2

Leasing Arrangements - Supplemental Disclosure for Balance Sheet related to Finance Leases (Details) $ in Millions	Dec. 31, 2019USD ($)
Assets
Property, plant and equipment, net	$ 939
Liabilities
Debt maturing within one year	336
Long-term debt	780
Total Finance lease liabilities	$ 1,116

Leasing Arrangements - Schedule

Leasing Arrangements - Schedule of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate related to Leases (Details)	Dec. 31, 2019
Leases [Abstract]
Operating leases, weighted average remaining lease term	9 years
Finance leases, weighted average remaining lease term	5 years
Operating leases, weighted average discount rate	4.00%
Finance leases, weighted average discount rate	3.20%

Leasing Arrangements - Schedu_2

Leasing Arrangements - Schedule of Lease Liability Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019
Operating Leases
2020	$ 4,099
2021	3,764
2022	3,363
2023	3,001
2024	2,484
Thereafter	9,257
Total lease payments	25,968
Less interest	4,314
Present value of lease liabilities	21,654
Less current obligation	(3,261)	$ (2,931)
Long-term obligation at December 31, 2019	18,393	$ 19,203
Finance Leases
2020	366
2021	271
2022	208
2023	152
2024	92
Thereafter	124
Total lease payments	1,213
Less interest	97
Total Finance lease liabilities	1,116
Less current obligation	(336)
Long-term obligation at December 31, 2019	$ 780

Leasing Arrangements - Disclosu

Leasing Arrangements - Disclosures Related to Periods Prior to Adoption of Topic 842 (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Operating leases rent expense	$ 4,100	$ 3,800
Capital leases	1,756
Less accumulated amortization	998
Total	$ 758

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt Obligations (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Schedule of Capitalization, Long-term Debt [Line Items]
Finance lease obligations (average rate of 3.2% and 4.1% in 2019 and 2018, respectively)	$ 1,116
Finance lease obligations (average rate of 3.2% and 4.1% in 2019 and 2018, respectively)		$ 905
Unamortized discount, net of premium	(4,480)	(6,298)
Unamortized debt issuance costs	(492)	(541)
Total long-term debt, including current maturities	111,489	112,913
Less long-term debt maturing within one year	10,777	7,040
Total long-term debt	100,712	105,873
Short-term notes payable	0	150
Total debt	$ 111,489	$ 113,063
Capital Lease Obligations
Schedule of Capitalization, Long-term Debt [Line Items]
Finance lease obligations average rate	3.20%
Capital Lease Obligations
Schedule of Capitalization, Long-term Debt [Line Items]
Finance lease obligations average rate		4.10%
Verizon Communications | Fixed Rate Debt Maturing 2019-2024
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 19,885	$ 24,242
Verizon Communications | Fixed Rate Debt Maturing 2019-2024 | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	1.38%
Verizon Communications | Fixed Rate Debt Maturing 2019-2024 | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	5.51%
Verizon Communications | Fixed Rate Debt Maturing 2025-2029
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 30,038	23,711
Verizon Communications | Fixed Rate Debt Maturing 2025-2029 | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	1.38%
Verizon Communications | Fixed Rate Debt Maturing 2025-2029 | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	6.80%
Verizon Communications | Fixed Rate Debt Maturing 2030-2055
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 47,777	54,662
Verizon Communications | Fixed Rate Debt Maturing 2030-2055 | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	2.65%
Verizon Communications | Fixed Rate Debt Maturing 2030-2055 | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	8.95%
Verizon Communications | Floating Notes Payable and other maturing 2019-2024
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 2,210	2,868
Verizon Communications | Floating Notes Payable and other maturing 2025-2029
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 1,789	1,789
Alltel Corporation | Fixed Rate Debt Maturing 2025-2029
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	6.80%
Long-term debt, gross	$ 38	116
Alltel Corporation | Fixed Rate Debt Maturing 2030-2055
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	7.88%
Long-term debt, gross	$ 58	118
Operating telephone company subsidiaries—debentures | Fixed Rate Debt Maturing 2019-2024
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 141	147
Operating telephone company subsidiaries—debentures | Fixed Rate Debt Maturing 2019-2024 | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	7.88%
Operating telephone company subsidiaries—debentures | Fixed Rate Debt Maturing 2019-2024 | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	8.00%
Operating telephone company subsidiaries—debentures | Fixed Rate Debt Maturing 2025-2029
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 286	288
Operating telephone company subsidiaries—debentures | Fixed Rate Debt Maturing 2025-2029 | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	6.00%
Operating telephone company subsidiaries—debentures | Fixed Rate Debt Maturing 2025-2029 | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	8.38%
Operating telephone company subsidiaries—debentures | Fixed Rate Debt Maturing 2030-2055
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 339	361
Operating telephone company subsidiaries—debentures | Fixed Rate Debt Maturing 2030-2055 | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	5.13%
Operating telephone company subsidiaries—debentures | Fixed Rate Debt Maturing 2030-2055 | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	8.75%
GTE LLC | Fixed Rate Debt Maturing 2019-2024
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	8.75%
Long-term debt, gross	$ 141	178
GTE LLC | Fixed Rate Debt Maturing 2025-2029
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	6.94%
Long-term debt, gross	$ 250	266
Other subsidiaries | Fixed Rate Debt Maturing 2019-2024
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 8,116	7,962
Other subsidiaries | Fixed Rate Debt Maturing 2019-2024 | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	1.42%
Other subsidiaries | Fixed Rate Debt Maturing 2019-2024 | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Stated interest rate on debt instrument	3.56%
Other subsidiaries | Floating Asset-backed Debt
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 4,277	$ 2,139

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-Term Debt (Detail) $ in Millions	Dec. 31, 2019USD ($)
Debt Disclosure [Abstract]
2020	$ 10,470
2021	7,269
2022	9,162
2023	5,591
2024	4,212
Thereafter	$ 74,161

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Proceeds from long-term borrowings	$ 18.7	$ 10.8
Repayments of debt and capital lease obligations	23.9	14.6
Asset-Backed Debt
Debt Instrument [Line Items]
Proceeds from long-term borrowings	8.6	4.8
Repayments of debt	$ 6.3	$ 3.6

Debt - Exchange Offers (Details

Debt - Exchange Offers (Details) - Exchange Offers $ in Millions	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Principal Amount Exchanged	$ 3,913
Principal Amount Issued	4,000
Verizon 1.750% - 5.150% notes and floating rate notes, due 2021 - 2025
Debt Instrument [Line Items]
Principal Amount Exchanged	$ 3,892
Verizon 1.750% - 5.150% notes and floating rate notes, due 2021 - 2025 | Minimum
Debt Instrument [Line Items]
Stated interest rate on debt instrument	1.75%
Verizon 1.750% - 5.150% notes and floating rate notes, due 2021 - 2025 | Maximum
Debt Instrument [Line Items]
Stated interest rate on debt instrument	5.15%
GTE LLC 8.750% debentures, due 2021
Debt Instrument [Line Items]
Stated interest rate on debt instrument	8.75%
Principal Amount Exchanged	$ 21
Verizon 4.016% Notes Due 2029
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.016%
Principal Amount Issued	$ 4,000

Debt - Tender Offers (Details)

Debt - Tender Offers (Details) - Debt Tender Offers $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Principal Amount Purchased	$ 8,909
Cash Consideration	10,695
Verizon 4.672% - 5.012% notes due 2054 - 2055
Debt Instrument [Line Items]
Principal Amount Purchased	4,500
Cash Consideration	5,030
Verizon [3.850% - 6.550% notes due 2039 - 2055]
Debt Instrument [Line Items]
Principal Amount Purchased	3,816
Cash Consideration	4,828
Various [5.050% - 8.950% notes due 2021 - 2041]
Debt Instrument [Line Items]
Principal Amount Purchased	593
Cash Consideration	$ 837
Minimum | Verizon 4.672% - 5.012% notes due 2054 - 2055
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.672%
Minimum | Verizon [3.850% - 6.550% notes due 2039 - 2055]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.85%
Minimum | Various [5.050% - 8.950% notes due 2021 - 2041]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	5.05%
Maximum | Verizon 4.672% - 5.012% notes due 2054 - 2055
Debt Instrument [Line Items]
Stated interest rate on debt instrument	5.012%
Maximum | Verizon [3.850% - 6.550% notes due 2039 - 2055]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	6.55%
Maximum | Various [5.050% - 8.950% notes due 2021 - 2041]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	8.95%

Debt - Debt Redemptions, Repurc

Debt - Debt Redemptions, Repurchases and Repayments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Feb. 21, 2020
Debt Instrument [Line Items]
Principal Redeemed/ Repurchased/ Repaid	$ 7,477
Verizon 5.900% notes due 2054
Debt Instrument [Line Items]
Stated interest rate on debt instrument	5.90%
Principal Redeemed/ Repurchased/ Repaid	$ 500
Debt redemption, percentage of principal amount redeemed	100.00%
Verizon 1.375% notes due 2019
Debt Instrument [Line Items]
Stated interest rate on debt instrument	1.375%
Principal Redeemed/ Repurchased/ Repaid	$ 206
Debt redemption, percentage of principal amount redeemed	100.00%
Verizon 1.750% notes due 2021
Debt Instrument [Line Items]
Stated interest rate on debt instrument	1.75%
Principal Redeemed/ Repurchased/ Repaid	$ 621
Debt redemption, percentage of principal amount redeemed	100.00%
Verizon 3.000% notes due 2021
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.00%
Principal Redeemed/ Repurchased/ Repaid	$ 930
Debt redemption, percentage of principal amount redeemed	101.061%
Verizon 3.500% notes due 2021
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.50%
Verizon 2.625% notes due 2020
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.625%
Principal Redeemed/ Repurchased/ Repaid	$ 831
Debt redemption, percentage of principal amount redeemed	100.037%
Verizon floating rate (LIBOR 0.770%) notes due 2019
Debt Instrument [Line Items]
Principal Redeemed/ Repurchased/ Repaid	$ 229
Debt redemption, percentage of principal amount redeemed	100.00%
Verizon floating rate (LIBOR 0.770%) notes due 2019 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	0.77%
Verizon 4.200% notes due 2046
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.20%
Principal Redeemed/ Repurchased/ Repaid	$ 2,059
Debt redemption, percentage of principal amount redeemed	100.00%
Verizon floating rate (LIBOR 0.370%) notes due 2019
Debt Instrument [Line Items]
Principal Redeemed/ Repurchased/ Repaid	$ 306
Debt redemption, percentage of principal amount redeemed	100.00%
Verizon floating rate (LIBOR 0.370%) notes due 2019 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	0.37%
Verizon 2.600% - 4.300% Internotes due 2022 - 2029
Debt Instrument [Line Items]
Principal Redeemed/ Repurchased/ Repaid	$ 201
Debt redemption, percentage of principal amount redeemed	100.00%
Open market repurchases of various Verizon notes
Debt Instrument [Line Items]
Principal Redeemed/ Repurchased/ Repaid	$ 543
Minimum | Verizon 2.600% - 4.300% Internotes due 2022 - 2029
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.60%
Maximum | Verizon 2.600% - 4.300% Internotes due 2022 - 2029
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.30%
Payment Tranche One | Verizon 3.500% notes due 2021
Debt Instrument [Line Items]
Principal Redeemed/ Repurchased/ Repaid	$ 315
Debt redemption, percentage of principal amount redeemed	102.18%
Payment Tranche Two | Verizon 3.500% notes due 2021
Debt Instrument [Line Items]
Principal Redeemed/ Repurchased/ Repaid	$ 736
Debt redemption, percentage of principal amount redeemed	102.238%
Subsequent event | 4.95% Notes Due 2047
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.95%
Principal Redeemed/ Repurchased/ Repaid		$ 1,500

Debt - Debt Issuances (Details)

Debt - Debt Issuances (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019AUD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019GBP (£)	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Debt Instrument [Line Items]
Proceeds from long-term borrowings	$ 7,875,000,000
Verizon 3.875% notes due 2029 (2)
Debt Instrument [Line Items]
Stated interest rate on debt instrument							3.875%
Principal Amount Issued	1,000,000,000
Proceeds from long-term borrowings	994,000,000
Verizon 5.000% notes due 2051
Debt Instrument [Line Items]
Stated interest rate on debt instrument							5.00%
Principal Amount Issued	510,000,000
Proceeds from long-term borrowings	506,000,000
Verizon 0.875% notes due 2027
Debt Instrument [Line Items]
Stated interest rate on debt instrument						0.875%
Principal Amount Issued | €			€ 1,250,000,000
Proceeds from long-term borrowings	1,391,000,000
Verizon 1.250% notes due 2030
Debt Instrument [Line Items]
Stated interest rate on debt instrument						1.25%
Principal Amount Issued | €			1,250,000,000
Proceeds from long-term borrowings	1,385,000,000
Verizon 2.500% notes due 2031
Debt Instrument [Line Items]
Stated interest rate on debt instrument						2.50%
Principal Amount Issued | £				£ 500,000,000
Proceeds from long-term borrowings	647,000,000
Verizon 0.875% notes due 2032
Debt Instrument [Line Items]
Stated interest rate on debt instrument					0.875%
Principal Amount Issued | €			800,000,000
Proceeds from long-term borrowings	882,000,000
Verizon 1.500% notes due 2039
Debt Instrument [Line Items]
Stated interest rate on debt instrument					1.50%
Principal Amount Issued | €			€ 500,000,000
Proceeds from long-term borrowings	545,000,000
Verizon 1.875% notes due 2030
Debt Instrument [Line Items]
Stated interest rate on debt instrument					1.875%
Principal Amount Issued | £				£ 550,000,000
Proceeds from long-term borrowings	$ 672,000,000
Verizon 3.500% notes due 2039
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.10%	2.10%	2.10%	2.10%
Principal Amount Issued		$ 450,000,000
Proceeds from long-term borrowings	$ 307,000,000
Verizon 2.650% notes due 2030
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.65%	2.65%	2.65%	2.65%
Principal Amount Issued		$ 300,000,000
Proceeds from long-term borrowings	$ 205,000,000
Verizon 3.500% notes due 2039
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.50%	3.50%	3.50%	3.50%
Principal Amount Issued		$ 500,000,000
Proceeds from long-term borrowings	$ 341,000,000

Debt - Short Term Borrowing and

Debt - Short Term Borrowing and Commercial Paper Program (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Jul. 31, 2018
Line of Credit Facility [Line Items]
Facility Capacity	$ 15,000,000,000
Principal Amount Outstanding	4,471,000,000
Commercial paper	0	$ 0
Short Term Facility
Line of Credit Facility [Line Items]
Facility Capacity			$ 700,000,000
Principal Amount Outstanding	$ 0	$ 0

Debt - Asset-Backed Debt Narrat

Debt - Asset-Backed Debt Narrative (Detail)

1 Months Ended

2 Months Ended

9 Months Ended

12 Months Ended

Jan. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Nov. 30, 2019USD ($)

Aug. 31, 2019USD ($)

May 31, 2019USD ($)

May 31, 2019USD ($)

Sep. 30, 2019Agreement

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Oct. 31, 2019USD ($)

Jun. 30, 2019USD ($)

Mar. 31, 2019USD ($)

Asset-Backed Debt

Debt Instrument [Line Items]

Secured debt, carrying value

$ 12,400,000,000

$ 12,400,000,000

Repayments of debt

6,300,000,000

$ 3,600,000,000

Asset Backed Notes

Debt Instrument [Line Items]

Principal Amount Issued

3,844,000,000

$ 3,844,000,000

$ 1,600,000,000

$ 1,122,000,000

$ 1,122,000,000

2016 ABS Financing Facility

Debt Instrument [Line Items]

Debt revolving period

2 years

2018 ABS Financing Facility

Debt Instrument [Line Items]

Repayments of debt

$ 540,000,000

2019 ABS Financing Facility

Debt Instrument [Line Items]

Debt revolving period

1 year

Repayments of debt

$ 1,500,000,000

$ 671,000,000

Additional borrowing capacity

1,500,000,000

$ 1,500,000,000

Amount drawn from credit facilities

1,500,000,000

$ 1,500,000,000

$ 1,800,000,000

Number of loan agreements | Agreement

2

Outstanding balance

$ 3,300,000,000

$ 3,300,000,000

Senior asset-backed notes | Asset Backed Notes

Debt Instrument [Line Items]

Debt revolving period

2 years

Repayments of debt

$ 3,300,000,000

Subsequent event | 2019 ABS Financing Facility

Debt Instrument [Line Items]

Repayments of debt

$ 1,300,000,000

Subsequent event | Senior and Junior Asset Backed Notes | Asset Backed Notes

Debt Instrument [Line Items]

Principal Amount Issued

$ 1,600,000,000

Debt - Schedule of Asset-Backed

Debt - Schedule of Asset-Backed Notes Transactions (Details) - Asset Backed Notes - USD ($)	1 Months Ended
	Oct. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Principal Amount Issued	$ 1,600,000,000	$ 1,122,000,000	$ 1,122,000,000	$ 3,844,000,000
A-1a Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	1.94%	2.33%	2.93%
Expected Weighted-average Life to Maturity (in years)	2 years 6 months 3 days	2 years 6 months 7 days	2 years 6 months
Principal Amount Issued	$ 1,276,000,000	$ 855,000,000	$ 900,000,000
A-1b Senior floating rate class notes
Debt Instrument [Line Items]
Effective interest rate				1.763%
Expected Weighted-average Life to Maturity (in years)	2 years 6 months 3 days	2 years 6 months 7 days	2 years 6 months
Principal Amount Issued	$ 150,000,000	$ 145,000,000	$ 100,000,000
B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.06%	2.40%	3.02%
Expected Weighted-average Life to Maturity (in years)	3 years 2 months 23 days	3 years 3 months 10 days	3 years 2 months 19 days
Principal Amount Issued	$ 98,000,000	$ 69,000,000	$ 69,000,000
C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.16%	2.60%	3.22%
Expected Weighted-average Life to Maturity (in years)	3 years 4 months 28 days	3 years 5 months 19 days	3 years 4 months 24 days
Principal Amount Issued	$ 76,000,000	$ 53,000,000	$ 53,000,000
London Interbank Offered Rate (LIBOR) | A-1b Senior floating rate class notes
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	0.42%	0.45%	0.33%

Debt - Schedule of Assets and L

Debt - Schedule of Assets and Liabilities Related to Asset-backed Debt Arrangements (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Account receivable, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	$ 10,525	$ 8,861
Prepaid expenses and other
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	1,180	989
Other Assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	3,856	2,725
Accounts payable and accrued liabilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	11	7
Short-term portion of long-term debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	5,578	5,352
Long-term debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	$ 6,791	$ 4,724

Debt - Credit Facilities, Non-C

Debt - Credit Facilities, Non-Cash Transaction, Early Debt Redemptions, Guarantees, Debt Covenants (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Facility Capacity	$ 15,000,000,000
Unused Capacity	9,390,000,000
Principal Amount Outstanding	4,471,000,000
Long-term debt maturing within one year	10,777,000,000	$ 7,040,000,000
Early debt extinguishment costs	3,700,000,000	681,000,000	$ 2,000,000,000
Guarantee of Debentures of Operating Telephone Company Subsidiaries
Debt Instrument [Line Items]
Principal amount outstanding in connection with the guarantee of debt obligations	765,000,000
Guarantee of Debt Obligations of GTE Corporation
Debt Instrument [Line Items]
Principal amount outstanding in connection with the guarantee of debt obligations	391,000,000
Network Equipment | Vendor Financing Facility
Debt Instrument [Line Items]
Value of purchase assets financed	563,000,000	1,100,000,000	$ 501,000,000
Long-term debt maturing within one year	1,100,000,000	1,100,000,000
Verizon revolving credit facility
Debt Instrument [Line Items]
Facility Capacity	9,500,000,000
Unused Capacity	9,390,000,000
Various export credit facilities
Debt Instrument [Line Items]
Facility Capacity	5,500,000,000
Unused Capacity	0
Principal Amount Outstanding	4,471,000,000
Amount drawn from credit facilities	$ 1,500,000,000	$ 3,000,000,000

Wireless Device Payment Plans -

Wireless Device Payment Plans - Schedule of Device Payment Plan Receivables, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 19,493	$ 19,313
Unamortized imputed interest	(454)	(546)
Device payment plan agreement receivables, net of unamortized imputed interest	19,039	18,767
Allowance for credit losses	(472)	(597)	$ (848)
Device payment plan agreement receivables, net	18,567	18,170
Account receivable, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, net	13,045	12,624
Other assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, net	$ 5,522	$ 5,546

Wireless Device Payment Plans_2

Wireless Device Payment Plans - Narrative (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables transfered	$ 11,500,000,000	$ 14,300,000,000	$ 11,500,000,000
Device payment plan agreement, trade-in liability	$ 4,943,000,000	$ 5,307,000,000	4,943,000,000		$ 4,452,000,000
Device payment plan agreement receivables sold, net				$ 0
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of customer tenure days		45 days
Required down payment percentage	0.00%
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of customer tenure days		45 days
Required down payment percentage	100.00%
Cash flows used in investing activities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collections following repurchase of receivables			195,000,000	238,000,000
Deferred purchase price receivable collected				$ 1,400,000,000
Product Trade-In
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement, trade-in liability	$ 64,000,000	$ 103,000,000	$ 64,000,000

Wireless Device Payment Plans_3

Wireless Device Payment Plans - Balance and Aging of Device Payment Plan Agreement Receivables on Gross Basis (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 19,493	$ 19,313
Unbilled
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	18,203	18,043
Billed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	1,002	986
Past due	$ 288	$ 284

Wireless Device Payment Plans_4

Wireless Device Payment Plans - Activity in Allowance for Credit Losses for Device Payment Plan Agreement Receivables (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 597	$ 848
Bad debt expense	915	459
Write-offs	(1,040)	(710)
Ending balance	$ 472	$ 597

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Assets:
Total	$ 1,226	$ 642
Other liabilities:
Total	1,689	1,413
Fixed income securities
Assets:
Debt securities, available-for-sale	442	405
Interest rate swaps
Assets:
Derivative asset	568	3
Other liabilities:
Derivative liabilities	173	813
Cross currency swaps
Assets:
Derivative asset	211	220
Other liabilities:
Derivative liabilities	912	536
Forward starting interest rate swaps
Other liabilities:
Derivative liabilities	604	60
Interest rate caps
Assets:
Derivative asset		14
Other liabilities:
Derivative liabilities		4
Foreign exchange forwards
Assets:
Derivative asset	5
Level 1
Assets:
Total	0	0
Other liabilities:
Total	0	0
Level 1 | Fixed income securities
Assets:
Debt securities, available-for-sale	0	0
Level 1 | Interest rate swaps
Assets:
Derivative asset	0	0
Other liabilities:
Derivative liabilities	0	0
Level 1 | Cross currency swaps
Assets:
Derivative asset	0	0
Other liabilities:
Derivative liabilities	0	0
Level 1 | Forward starting interest rate swaps
Other liabilities:
Derivative liabilities	0	0
Level 1 | Interest rate caps
Assets:
Derivative asset		0
Other liabilities:
Derivative liabilities		0
Level 1 | Foreign exchange forwards
Assets:
Derivative asset	0
Level 2
Assets:
Total	1,226	642
Other liabilities:
Total	1,689	1,413
Level 2 | Fixed income securities
Assets:
Debt securities, available-for-sale	442	405
Level 2 | Interest rate swaps
Assets:
Derivative asset	568	3
Other liabilities:
Derivative liabilities	173	813
Level 2 | Cross currency swaps
Assets:
Derivative asset	211	220
Other liabilities:
Derivative liabilities	912	536
Level 2 | Forward starting interest rate swaps
Other liabilities:
Derivative liabilities	604	60
Level 2 | Interest rate caps
Assets:
Derivative asset		14
Other liabilities:
Derivative liabilities		4
Level 2 | Foreign exchange forwards
Assets:
Derivative asset	5
Level 3
Assets:
Total	0	0
Other liabilities:
Total	0	0
Level 3 | Fixed income securities
Assets:
Debt securities, available-for-sale	0	0
Level 3 | Interest rate swaps
Assets:
Derivative asset	0	0
Other liabilities:
Derivative liabilities	0	0
Level 3 | Cross currency swaps
Assets:
Derivative asset	0	0
Other liabilities:
Derivative liabilities	0	0
Level 3 | Forward starting interest rate swaps
Other liabilities:
Derivative liabilities	0	0
Level 3 | Interest rate caps
Assets:
Derivative asset		0
Other liabilities:
Derivative liabilities		$ 0
Level 3 | Foreign exchange forwards
Assets:
Derivative asset	$ 0

Fair Value Measurements and F_4

Fair Value Measurements and Financial Instruments - Narrative (Detail) $ in Millions	1 Months Ended				2 Months Ended	12 Months Ended
	Dec. 31, 2019USD ($)Debt_Instrument	Nov. 30, 2019Debt_Instrument	May 31, 2019USD ($)Debt_Instrument	Sep. 30, 2018USD ($)Debt_Instrument	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2018EUR (€)
Derivatives, Fair Value [Line Items]
Carrying amount of investments without readily determinable fair values	$ 284				$ 284	$ 284	$ 248
Number of debt instruments in tender offers | Debt_Instrument	20	11	15	8
Derivative liability fair value of collateral							100
Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	$ 17,004				17,004	17,004	19,813
Interest rate swaps | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period						510	730
Notional amount of derivative settled						3,300	1,100
Ineffectiveness on interest rate fair value hedges						54	54
Cross currency swaps
Derivatives, Fair Value [Line Items]
Notional Amount	23,070				23,070	23,070	16,638
Cross currency swaps | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period						6,400
Pre-tax gain (loss) recognized in other comprehensive income (loss)						385	720
Forward starting interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	3,000				3,000	3,000	4,000
Forward starting interest rate swaps | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period							4,000
Notional amount of derivative settled						1,000
Pre-tax gain (loss) recognized in other comprehensive income (loss)						565	60
Euro-denominated debt | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Notional Amount | €								€ 750,000,000	€ 750,000,000
Interest rate caps
Derivatives, Fair Value [Line Items]
Notional Amount	679				679	679	2,218
Foreign exchange forwards
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period						12,000	2,800
Notional amount of derivative settled						11,500	2,200
Notional Amount	$ 1,130				1,130	$ 1,130	$ 600
Treasury rate locks
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period			$ 1,500	$ 2,000	$ 1,500
Verizon 4.672% - 5.012% notes due 2054 - 2055 | Debt Tender Offers | Minimum
Derivatives, Fair Value [Line Items]
Stated interest rate on debt instrument	4.672%				4.672%	4.672%		4.672%
Verizon 4.672% - 5.012% notes due 2054 - 2055 | Debt Tender Offers | Maximum
Derivatives, Fair Value [Line Items]
Stated interest rate on debt instrument	5.012%				5.012%	5.012%		5.012%
Verizon [3.850% to 8.950%] Notes Due 2021 - 2055 | Debt Tender Offers | Minimum
Derivatives, Fair Value [Line Items]
Stated interest rate on debt instrument	3.85%				3.85%	3.85%		3.85%
Verizon [3.850% to 8.950%] Notes Due 2021 - 2055 | Debt Tender Offers | Maximum
Derivatives, Fair Value [Line Items]
Stated interest rate on debt instrument	8.95%				8.95%	8.95%		8.95%
Verizon [3.850% to 5.012%] notes due 2039 - 2055 | Debt Tender Offers | Minimum
Derivatives, Fair Value [Line Items]
Stated interest rate on debt instrument				3.85%
Verizon [3.850% to 5.012%] notes due 2039 - 2055 | Debt Tender Offers | Maximum
Derivatives, Fair Value [Line Items]
Stated interest rate on debt instrument				5.012%

Fair Value Measurements and F_5

Fair Value Measurements and Financial Instruments - Fair Value of Short-term and Long-term Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short- and long-term debt, excluding finance leases	$ 110,373	$ 112,159
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short- and long-term debt, excluding finance leases	$ 129,200	$ 118,535

Fair Value Measurements and F_6

Fair Value Measurements and Financial Instruments - Notional Amounts of Outstanding Derivative Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Interest rate swaps
Derivative [Line Items]
Notional Amount	$ 17,004	$ 19,813
Cross currency swaps
Derivative [Line Items]
Notional Amount	23,070	16,638
Forward starting interest rate swaps
Derivative [Line Items]
Notional Amount	3,000	4,000
Interest rate caps
Derivative [Line Items]
Notional Amount	679	2,218
Foreign exchange forwards
Derivative [Line Items]
Notional Amount	$ 1,130	$ 600

Fair Value Measurements and F_7

Fair Value Measurements and Financial Instruments - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - Fair Value Hedges - Long-term debt - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Carrying amount of hedged liabilities	$ 17,337	$ 18,903
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities	$ 433
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities		$ (785)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)installment$ / sharesshares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments made to settle compensation classified as liability awards	$ 737	$ 773	$ 750
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	$ 765
Weighted-average period of unrecognized compensation expense related to the unvested portion of RSUs and PSUs (in years)	2 years
Share-based compensation	$ 872	$ 720	$ 384
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award performance cycle	3 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per unit (in usd per share) | $ / shares	$ 56.66	$ 49.19
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for awards under the Long-Term Incentive Plan | shares	89,000,000
2017 Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal annual installments for award vesting | installment	3
2017 Plan | Broad-based employee special award of RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal annual installments for award vesting | installment	2

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted and Performance Stock Unit Activity (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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)	10,577	12,633	13,308
Granted (in shares)	3,169	4,134	4,216
Payments (in shares)	(6,397)	(5,977)	(4,825)
Cancelled/Forfeited (in shares)	(90)	(213)	(66)
Ending Balance (in shares)	7,259	10,577	12,633
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)	19,926	13,991	0
Granted (in shares)	5,814	15,157	25,168
Payments (in shares)	(9,429)	(6,860)	(8,487)
Cancelled/Forfeited (in shares)	(1,598)	(2,362)	(2,690)
Ending Balance (in shares)	14,713	19,926	13,991
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)	16,905	18,235	17,919
Granted (in shares)	4,593	5,779	6,564
Payments (in shares)	(3,255)	(4,526)	(6,031)
Cancelled/Forfeited (in shares)	(2,692)	(2,583)	(217)
Ending Balance (in shares)	15,551	16,905	18,235

Employee Benefits - Change In B

Employee Benefits - Change In Benefit Obligations Change In Plan Assets Funded Status (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Change in Benefit Obligations
Actuarial (gain) loss, net	$ (126)	$ (2,300)	$ 911
Pension
Change in Benefit Obligations
Beginning of year	19,567	21,531
Service cost	247	284	280
Interest cost	695	690	683
Plan amendments	0	230
Actuarial (gain) loss, net	2,860	(1,418)
Benefits paid	(1,248)	(1,475)
Curtailment and termination benefits	0	181	11
Settlements paid	(873)	(456)
End of year	21,248	19,567	21,531
Change in Plan Assets
Beginning of year	17,816	19,175
Actual return on plan assets	3,385	(494)
Company contributions	371	1,066
Benefits paid	(1,248)	(1,475)
Settlements paid	(873)	(456)
End of year	19,451	17,816	19,175
Funded Status
End of year	(1,797)	(1,751)
Health Care and Life
Change in Benefit Obligations
Beginning of year	16,364	19,460
Service cost	96	127	149
Interest cost	629	615	659
Plan amendments	(22)	(8)	(527)
Actuarial (gain) loss, net	(414)	(2,729)
Benefits paid	(984)	(1,101)
Curtailment and termination benefits	0	0	0
Settlements paid	0	0
End of year	15,669	16,364	19,460
Change in Plan Assets
Beginning of year	1,175	1,119
Actual return on plan assets	103	(26)
Company contributions	449	1,183
Benefits paid	(984)	(1,101)
Settlements paid	0	0
End of year	743	1,175	$ 1,119
Funded Status
End of year	$ (14,926)	$ (15,189)

Employee Benefits - Amounts Rec

Employee Benefits - Amounts Recognized on Balance Sheet and Amounts Recognized in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Amounts recognized on the balance sheet
Noncurrent liabilities	$ (17,952)	$ (18,599)
Pension
Amounts recognized on the balance sheet
Noncurrent assets	5	3
Current liabilities	(67)	(71)
Noncurrent liabilities	(1,735)	(1,683)
Total	(1,797)	(1,751)
Amounts recognized in Accumulated Other Comprehensive Income (Pre-tax)
Prior service cost (benefit)	524	585
Total	524	585
Health Care and Life
Amounts recognized on the balance sheet
Noncurrent assets	0	0
Current liabilities	(603)	(292)
Noncurrent liabilities	(14,323)	(14,897)
Total	(14,926)	(15,189)
Amounts recognized in Accumulated Other Comprehensive Income (Pre-tax)
Prior service cost (benefit)	(3,749)	(4,698)
Total	$ (3,749)	$ (4,698)

Employee Benefits - Narrative (

Employee Benefits - Narrative (Detail) $ in Millions	1 Months Ended	10 Months Ended	12 Months Ended
	Aug. 31, 2018	Jun. 30, 2019Employee	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation for all defined benefit pension plans			$ 21,200	$ 19,500
Collective bargaining arrangement, term	4 years
Change in defined benefit and postretirement plans, due to change in prior service credit, net of taxes						$ 2,900
Change in defined benefit and postretirement plans, due to change in prior service credit, tax						$ 1,800
Defined benefit plan, reclassification adjustment from AOCI			$ 658	$ 658	$ 658
Discount Rate			3.30%	4.40%	3.70%	4.20%
Defined benefit plan, period used to determine overall expected long term rate of return on assets assumption (in years)			10 years
Number of allocated shares of common stock in ESOP (in shares) | shares			49,000,000
Number of unallocated shares of common stock in ESOP (in shares) | shares			0
Total savings plan cost			$ 897	$ 1,100	$ 838
Pension and benefit credits (charges)			126	2,300	(911)
Severance, pension and benefit (credits) charges				(2,100)	1,400
Severance costs			204	2,157	497
Decrease in Discount Rate Assumption
Defined Benefit Plan Disclosure [Line Items]
Pension and benefit credits (charges)			4,300	2,600	(2,600)
Other Assumption Adjustments
Defined Benefit Plan Disclosure [Line Items]
Pension and benefit credits (charges)			(1,900)	(1,700)	320
Healthcare Claims and Trend Adjustments
Defined Benefit Plan Disclosure [Line Items]
Pension and benefit credits (charges)			1,600	1,600
Difference Between Estimated Return on Assets and Actual Return On Assets
Defined Benefit Plan Disclosure [Line Items]
Pension and benefit credits (charges)			(2,300)	$ (1,900)	$ 1,200
Expected return on plan assets				7.00%	7.00%
Actual return on assets				(2.70%)	14.00%
Effect Of Participants Retiring
Defined Benefit Plan Disclosure [Line Items]
Pension and benefit credits (charges)				$ (177)
Use of Updated Actuarial Tables
Defined Benefit Plan Disclosure [Line Items]
Pension and benefit credits (charges)					$ 227
Minimum
Defined Benefit Plan Disclosure [Line Items]
Selected bonds			300
Selling, general and administrative expense
Defined Benefit Plan Disclosure [Line Items]
Severance costs			$ 260
2018 Voluntary Separation Program
Defined Benefit Plan Disclosure [Line Items]
Number of eligible employees separated | Employee		10,400
Severance costs				1,800
Severance costs, after-tax				1,400
Other Existing Separation Program
Defined Benefit Plan Disclosure [Line Items]
Severance costs				339	497
Return Seeking Assets | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			48.00%
Return Seeking Assets | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			68.00%
Liability Hedging Assets | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			35.00%
Liability Hedging Assets | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			55.00%
Cash and cash equivalents | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			15.00%
Pension
Defined Benefit Plan Disclosure [Line Items]
Change in defined benefit and postretirement plans, due to change in prior service credit, net of taxes				(230)
Change in defined benefit and postretirement plans, due to change in prior service credit, tax				170
Increase (decrease) of benefit plan obligations for plan amendment			$ 0	$ 230
Defined benefit plan, reclassification adjustment from AOCI, amortization period						12 years 2 months 12 days
Expected amortization of prior service cost next fiscal year			$ 61
Discount Rate			3.30%	4.40%
Pension and other postretirement benefit obligations			$ 21,248	$ 19,567	$ 21,531
Defined benefit plan contributions by employer			371	1,066
Pension and benefit credits (charges)			$ (2,860)	$ 1,418
Expected return on plan assets			6.80%	7.00%	7.70%
Pension | Qualified Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan contributions by employer			$ 300
Pension | Nonqualified Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan contributions by employer			71
Defined benefit plan contributions by employer in next fiscal year			70
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Change in defined benefit and postretirement plans, due to change in prior service credit, net of taxes					$ 317
Change in defined benefit and postretirement plans, due to change in prior service credit, tax					210
Increase (decrease) of benefit plan obligations for plan amendment			(22)	$ (8)	(527)
Defined benefit plan, reclassification adjustment from AOCI, amortization period						7 years 9 months 18 days
Expected amortization of prior service cost next fiscal year			$ (1,000)
Discount Rate			3.20%	4.30%
Pension and other postretirement benefit obligations			$ 15,669	$ 16,364	$ 19,460
Defined benefit plan contributions by employer			449	1,183
Defined benefit plan contributions by employer in next fiscal year			700
Pension and benefit credits (charges)			$ 414	$ 2,729
Expected return on plan assets			4.30%	4.80%	4.50%
Pension and Postretirement Plan
Defined Benefit Plan Disclosure [Line Items]
Discount Rate			3.30%

Employee Benefits - Information

Employee Benefits - Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Projected benefit obligation	$ 21,190	$ 19,510
Accumulated benefit obligation	21,134	19,461
Fair value of plan assets	$ 19,388	$ 17,757

Employee Benefits - Benefit (In

Employee Benefits - Benefit (Income) Cost Related to Pension and Postretirement Health Care and Life Insurance Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Other components	$ (627)	$ (3,068)	$ 11
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	247	284	280
Amortization of prior service cost (credit)	61	48	39
Expected return on plan assets	(1,130)	(1,293)	(1,262)
Interest cost	695	690	683
Remeasurement loss (gain), net	606	369	337
Curtailment and termination benefits	0	181	11
Other components	232	(5)	(192)
Total	479	279	88
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	96	127	149
Amortization of prior service cost (credit)	(971)	(976)	(949)
Expected return on plan assets	(37)	(44)	(53)
Interest cost	629	615	659
Remeasurement loss (gain), net	(480)	(2,658)	546
Curtailment and termination benefits	0	0	0
Other components	(859)	(3,063)	203
Total	(763)	(2,936)	352
Cost of services | Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	202	230	215
Cost of services | Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	78	104	116
Selling, general and administrative expense | Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	45	54	65
Selling, general and administrative expense | Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 18	$ 23	$ 33

Employee Benefits - Other Pre-t

Employee Benefits - Other Pre-tax Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Income) Loss (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (benefit)	$ 0	$ 230	$ 0
Reversal of amortization items
Prior service cost (benefit)	(61)	(48)	(39)
Total recognized in other comprehensive loss (income) (pre-tax)	(61)	182	(39)
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (benefit)	(22)	(8)	(544)
Reversal of amortization items
Prior service cost (benefit)	971	976	949
Total recognized in other comprehensive loss (income) (pre-tax)	$ 949	$ 968	$ 405

Employee Benefits - Weighted Av

Employee Benefits - Weighted Average Assumptions Used In Determining Benefit Obligations (Detail)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	3.30%	4.40%	3.70%	4.20%
Pension
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	3.30%	4.40%
Rate of compensation increases	3.00%	3.00%
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	3.20%	4.30%

Employee Benefits - Weighted _2

Employee Benefits - Weighted Average Assumptions Used In Determining Net Periodic Cost (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension
Defined Benefit Plan Disclosure [Line Items]
Discount rate in effect for determining service cost	4.60%	4.10%	4.70%
Discount rate in effect for determining interest cost	3.80%	3.40%	3.40%
Expected return on plan assets	6.80%	7.00%	7.70%
Rate of compensation increases	3.00%	3.00%	3.00%
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Discount rate in effect for determining service cost	4.60%	3.90%	4.60%
Discount rate in effect for determining interest cost	4.00%	3.20%	3.50%
Expected return on plan assets	4.30%	4.80%	4.50%

Employee Benefits - Health Care

Employee Benefits - Health Care Cost Trend Rates (Detail)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Healthcare cost trend rate assumed for next year	6.10%	6.30%	7.00%
Rate to which cost trend rate gradually declines	4.50%	4.50%	4.50%

Employee Benefits - Effects of

Employee Benefits - Effects of One Percentage Point Change In Assumed Health Care Cost Trend Rates (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Retirement Benefits [Abstract]
Effect on service and interest cost, One-Percentage Point Increase	$ 20
Effect on service and interest cost, One-Percentage Point Decrease	(21)
Effect on postretirement benefit obligation, One-Percentage Point Increase	626
Effect on postretirement benefit obligation, One-Percentage Point Decrease	$ (696)

Employee Benefits - Fair Values

Employee Benefits - Fair Values for Pension Plans by Asset Category (Detail) - Pension - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	$ 19,451	$ 17,816	$ 19,175
Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	14,284	12,246
Fair Value, Inputs, Level 1, 2 and 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,529	1,701
Fair Value, Inputs, Level 1, 2 and 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	2,988	2,253
Fair Value, Inputs, Level 1, 2 and 3 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,986	1,684
Fair Value, Inputs, Level 1, 2 and 3 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	3,818	3,645
Fair Value, Inputs, Level 1, 2 and 3 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,355	1,113
Fair Value, Inputs, Level 1, 2 and 3 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	768	0
Fair Value, Inputs, Level 1, 2 and 3 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	810	727
Fair Value, Inputs, Level 1, 2 and 3 | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	737	664
Fair Value, Inputs, Level 1, 2 and 3 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	293	459
Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	6,674	5,614
Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,507	1,694
Level 1 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	2,850	2,220
Level 1 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,768	1,557
Level 1 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	524	124
Level 1 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	25	19
Level 1 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 1 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 1 | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 1 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	5,760	4,847
Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	22	7
Level 2 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	135	20
Level 2 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	218	127
Level 2 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	3,149	3,244
Level 2 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,304	1,076
Level 2 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	768	0
Level 2 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2 | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	164	373
Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,850	1,785	1,517
Level 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	3	13	1
Level 3 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	145	277	104
Level 3 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	26	18	20
Level 3 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	810	727	627
Level 3 | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	737	664	580
Level 3 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	129	86	$ 185
Investments measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	$ 5,167	$ 5,570

Employee Benefits - Reconciliat

Employee Benefits - Reconciliation of Beginning and Ending Balance of Pension Plan Assets Measured at Fair Value (Detail) - Pension - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	$ 17,816	$ 19,175
End of year	19,451	17,816
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	1,785	1,517
Actual gain (loss) on plan assets	61	156
Purchases (sales)	226	270
Transfers out	(222)	(158)
End of year	1,850	1,785
Level 3 | Equity securities
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	13	1
Actual gain (loss) on plan assets	1	1
Purchases (sales)	(11)	11
Transfers out	0	0
End of year	3	13
Level 3 | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	277	104
Actual gain (loss) on plan assets	(1)	(7)
Purchases (sales)	18	177
Transfers out	(149)	3
End of year	145	277
Level 3 | International bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	18	20
Actual gain (loss) on plan assets	(1)	3
Purchases (sales)	9	(5)
Transfers out	0	0
End of year	26	18
Level 3 | Real estate
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	727	627
Actual gain (loss) on plan assets	30	134
Purchases (sales)	53	(34)
Transfers out	0	0
End of year	810	727
Level 3 | Private equity
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	664	580
Actual gain (loss) on plan assets	32	25
Purchases (sales)	41	59
Transfers out	0	0
End of year	737	664
Level 3 | Hedge funds
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	86	185
Actual gain (loss) on plan assets	0	0
Purchases (sales)	116	62
Transfers out	(73)	(161)
End of year	$ 129	$ 86

Employee Benefits - Fair Valu_2

Employee Benefits - Fair Values For Other Postretirement Benefit Plans By Asset Category (Detail) - Health Care and Life - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	$ 743	$ 1,175	$ 1,119
Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	567	848
Fair Value, Inputs, Level 1, 2 and 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	220	471
Fair Value, Inputs, Level 1, 2 and 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	225	239
Fair Value, Inputs, Level 1, 2 and 3 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	28	24
Fair Value, Inputs, Level 1, 2 and 3 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	76	96
Fair Value, Inputs, Level 1, 2 and 3 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	18	18
Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	514	808
Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	167	431
Level 1 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	225	239
Level 1 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	28	24
Level 1 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	76	96
Level 1 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	18	18
Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	53	40
Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	53	40
Level 2 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Investments measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	$ 176	$ 327

Employee Benefits - Expected Be

Employee Benefits - Expected Benefit Payments to Retirees (Detail) $ in Millions	Dec. 31, 2019USD ($)
Pension
Defined Benefit Plan Disclosure [Line Items]
2020	$ 2,227
2021	1,680
2022	1,620
2023	1,577
2024	1,072
2025-2029	5,248
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
2020	961
2021	947
2022	930
2023	968
2024	951
2025-2029	$ 4,569

Employee Benefits - Recorded Se

Employee Benefits - Recorded Severance Liability (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movements in Severance Benefits [Roll Forward]
Beginning of Year	$ 2,156	$ 627	$ 656
Charged to Expense	260	2,093	581
Payments	(1,847)	(560)	(564)
Other	(4)	(4)	(46)
End of Year	$ 565	$ 2,156	$ 627

Taxes - Components of Income be

Taxes - Components of Income before (Provision) benefit for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 21,655	$ 19,801	$ 19,645
Foreign	1,078	(178)	949
Income Before (Provision) Benefit For Income Taxes	$ 22,733	$ 19,623	$ 20,594

Taxes - Components of Provision

Taxes - Components of Provision (benefit) for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current
Federal	$ 518	$ 2,187	$ 3,630
Foreign	221	267	200
State and Local	974	741	677
Total	1,713	3,195	4,507
Deferred
Federal	1,150	175	(14,360)
Foreign	(13)	30	(66)
State and Local	95	184	(37)
Total	1,232	389	(14,463)
Total income tax provision (benefit)	$ 2,945	$ 3,584	$ (9,956)

Taxes - Schedule for Principal

Taxes - Schedule for Principal Reasons for Difference in Effective and Statutory Tax Rates (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	35.00%
State and local income tax rate, net of federal tax benefits	3.70%	3.70%	1.60%
Preferred stock disposition	(9.90%)	0.00%	0.00%
Affordable housing credit	(0.40%)	(0.60%)	(0.60%)
Employee benefits including ESOP dividend	(0.30%)	(0.30%)	(0.50%)
Impact of tax reform re-measurement	0.00%	0.00%	(81.60%)
Internal restructure	0.00%	(9.10%)	(0.60%)
Noncontrolling interests	(0.50%)	(0.50%)	(0.60%)
Non-deductible goodwill	0.10%	4.70%	1.00%
Other, net	(0.70%)	(0.60%)	(2.00%)
Effective income tax rate	13.00%	18.30%	(48.30%)

Taxes - Narrative (Detail)

Taxes - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate		13.00%	18.30%	(48.30%)
Disposition of minority interest in foreign affiliate		$ 2,200
Deferred tax benefit from internal reorganization of legal entities	$ 2,100		$ 2,100
Provisional estimate impacts of Tax Cuts and Jobs Act of 2017				$ 16,800
Undistributed earnings of foreign subsidiaries		3,800
Net tax loss and credit carry forwards (tax effected)	3,576	3,012	3,576
Net tax loss and credit carry forwards (tax effected), portion that will expire		2,000
Operating loss carry forwards amount		1,000
Decrease in valuation allowance		(481)
Unrecognized tax benefits, that if recognized, would favorably affect the effective income tax rate	$ 2,300	$ 2,400	$ 2,300	$ 1,900

Taxes - Schedule of Cash Taxes

Taxes - Schedule of Cash Taxes Paid (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income taxes, net of amounts refunded	$ 3,583	$ 2,213	$ 4,432
Employment taxes	1,044	1,066	1,207
Property and other taxes	1,551	1,598	1,737
Total	$ 6,178	$ 4,877	$ 7,376

Taxes - Schedule of Deferred Ta

Taxes - Schedule of Deferred Taxes (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Deferred Tax Assets
Employee benefits	$ 5,048	$ 5,403
Tax loss and credit carry forwards	3,012	3,576
Other - assets	5,595	1,650
Deferred tax assets, gross	13,655	10,629
Valuation allowances	(2,260)	(2,741)
Deferred tax assets	11,395	7,888
Deferred Tax Liabilities
Spectrum and other intangible amortization	22,388	21,976
Depreciation	16,884	15,662
Other - liabilities	6,742	3,976
Deferred tax liabilities	46,014	41,614
Net deferred tax liability	$ 34,619	$ 33,726

Taxes - Reconciliation of Begin

Taxes - Reconciliation of Beginning and Ending Balance of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1,	$ 2,871	$ 2,355	$ 1,902
Additions based on tax positions related to the current year	149	160	219
Additions for tax positions of prior years	297	699	756
Reductions for tax positions of prior years	(300)	(248)	(419)
Settlements	(58)	(40)	(42)
Lapses of statutes of limitations	(89)	(55)	(61)
Balance at December 31,	$ 2,870	$ 2,871	$ 2,355

Taxes - Schedule of After-tax (

Taxes - Schedule of After-tax (Expenses) Benefits Related To Interest and Penalties in Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax examination, penalties and interest expense	$ 35	$ 75	$ 77

Taxes - After-tax Accrual for P

Taxes - After-tax Accrual for Payment of Interest and Penalties in Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax examination, penalties and interest accrued	$ 385	$ 348

Segment Information - Narrative

Segment Information - Narrative (Detail)	9 Months Ended	12 Months Ended
	Dec. 31, 2019plan	Dec. 31, 2019plan	Dec. 31, 2019segment	May 31, 2017Site	Dec. 31, 2016Site
Segment Reporting Information [Line Items]
Number of reportable segments	2	2	2
United States and Latin America | Data Center Sale with Equinix
Segment Reporting Information [Line Items]
Number of data center sites sold				23	23

Segment Information - Operating

Segment Information - Operating Financial Information for Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Operating Revenues	$ 34,775	$ 32,894	$ 32,071	$ 32,128	$ 34,281	$ 32,607	$ 32,203	$ 31,772	$ 131,868	$ 130,863	$ 126,034
Selling, general and administrative expense									29,896	31,083	28,592
Depreciation and amortization expense									16,682	17,403	16,954
Total Operating Expenses									101,490	108,585	98,609
Operating Income	$ 6,639	$ 8,180	$ 7,850	$ 7,709	$ 637	$ 7,675	$ 6,617	$ 7,349	30,378	22,278	27,425
Service
Segment Reporting Information [Line Items]
Cost of services and equipment									31,772	32,185	30,916
Wireless equipment
Segment Reporting Information [Line Items]
Operating Revenues									21,563	22,258	18,889
Cost of services and equipment									22,954	23,323	22,147
Wireless equipment | Business
Segment Reporting Information [Line Items]
Operating Revenues									3,500	3,400	1,600
Service and other
Segment Reporting Information [Line Items]
Operating Revenues									110,305	108,605	107,145
Service and other | Business
Segment Reporting Information [Line Items]
Operating Revenues									27,900	28,100	29,300
Wireless Service
Segment Reporting Information [Line Items]
Operating Revenues									64,979	62,943	63,047
Wireless Service | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									53,791	52,459	51,954
Wireless Service | Business
Segment Reporting Information [Line Items]
Operating Revenues									11,188	10,484	11,093
Fios Revenues
Segment Reporting Information [Line Items]
Operating Revenues									12,142	11,939	11,691
Fios Revenues | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									11,175	11,056	10,903
Fios Revenues | Business
Segment Reporting Information [Line Items]
Operating Revenues									967	883	788
Intersegment Eliminations
Segment Reporting Information [Line Items]
Operating Revenues									301	296	304
Intersegment Eliminations | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									240	234	258
Intersegment Eliminations | Business
Segment Reporting Information [Line Items]
Operating Revenues									61	62	46
Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues									122,499	121,296	117,967
Selling, general and administrative expense									24,827	23,390	24,740
Depreciation and amortization expense									15,458	16,210	15,791
Total Operating Expenses									89,776	89,117	88,753
Operating Income									32,723	32,179	29,214
Operating Segments | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									91,056	89,762	87,054
Selling, general and administrative expense									16,639	15,701	17,292
Depreciation and amortization expense									11,353	11,952	11,308
Total Operating Expenses									62,095	61,751	61,294
Operating Income									28,961	28,011	25,760
Operating Segments | Business
Segment Reporting Information [Line Items]
Operating Revenues									31,443	31,534	30,913
Selling, general and administrative expense									8,188	7,689	7,448
Depreciation and amortization expense									4,105	4,258	4,483
Total Operating Expenses									27,681	27,366	27,459
Operating Income									3,762	4,168	3,454
Operating Segments | Service
Segment Reporting Information [Line Items]
Operating Revenues									65,384	64,207	63,769
Cost of services and equipment									26,539	26,194	26,075
Operating Segments | Service | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									65,384	64,207	63,769
Cost of services and equipment									15,884	15,335	14,981
Operating Segments | Service | Business
Segment Reporting Information [Line Items]
Operating Revenues									0	0	0
Cost of services and equipment									10,655	10,859	11,094
Operating Segments | Wireless equipment
Segment Reporting Information [Line Items]
Operating Revenues									18,048	18,874	17,292
Cost of services and equipment									22,952	23,323	22,147
Operating Segments | Wireless equipment | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									18,048	18,874	17,292
Cost of services and equipment									18,219	18,763	17,713
Operating Segments | Wireless equipment | Business
Segment Reporting Information [Line Items]
Operating Revenues									0	0	0
Cost of services and equipment									4,733	4,560	4,434
Operating Segments | Other
Segment Reporting Information [Line Items]
Operating Revenues									7,384	6,447	5,735
Operating Segments | Other | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									7,384	6,447	5,735
Operating Segments | Other | Business
Segment Reporting Information [Line Items]
Operating Revenues									0	0	0
Operating Segments | Global Enterprise
Segment Reporting Information [Line Items]
Operating Revenues									10,815	11,197	11,444
Operating Segments | Global Enterprise | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									0	0	0
Operating Segments | Global Enterprise | Business
Segment Reporting Information [Line Items]
Operating Revenues									10,815	11,197	11,444
Operating Segments | Small and Medium Business
Segment Reporting Information [Line Items]
Operating Revenues									11,447	10,732	9,793
Operating Segments | Small and Medium Business | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									0	0	0
Operating Segments | Small and Medium Business | Business
Segment Reporting Information [Line Items]
Operating Revenues									11,447	10,732	9,793
Operating Segments | Public Sector and Other
Segment Reporting Information [Line Items]
Operating Revenues									5,922	5,830	5,652
Operating Segments | Public Sector and Other | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									0	0	0
Operating Segments | Public Sector and Other | Business
Segment Reporting Information [Line Items]
Operating Revenues									5,922	5,830	5,652
Operating Segments | Wholesale
Segment Reporting Information [Line Items]
Operating Revenues									3,198	3,713	3,978
Operating Segments | Wholesale | Consumer
Segment Reporting Information [Line Items]
Operating Revenues									0	0	0
Operating Segments | Wholesale | Business
Segment Reporting Information [Line Items]
Operating Revenues									$ 3,198	$ 3,713	$ 3,978

Segment Information - Summary o

Segment Information - Summary of Reconciliation of Segment Operating Revenues (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	$ 34,775	$ 32,894	$ 32,071	$ 32,128	$ 34,281	$ 32,607	$ 32,203	$ 31,772	$ 131,868	$ 130,863	$ 126,034
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues									122,499	121,296	117,967
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues									9,812	9,936	8,098
Operating results from divested businesses
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues									0	0	368
Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues									$ (443)	$ (369)	$ (399)

Segment Information - Reconcili

Segment Information - Reconciliation of Total Reportable Segments Operating Income to Consolidated Income before Provision for Income Taxes (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Operating Income	$ 6,639	$ 8,180	$ 7,850	$ 7,709	$ 637	$ 7,675	$ 6,617	$ 7,349	$ 30,378	$ 22,278	$ 27,425
Severance charges									(204)	(2,157)	(497)
Other components of net periodic pension and benefit (charges) credits (Note 11)									(813)	(823)	(800)
Net gain on sale of divested businesses (Note 3)									0	0	1,774
Acquisition and integration related charges (Note 3)									0	(553)	(884)
Gain on spectrum license transactions (Note 3)									0	0	270
Operating results from divested businesses									0	0	149
Impairment charges									(186)	(4,591)	0
Product realignment charges									0	(451)	(682)
Net gain from dispositions of assets and businesses									261	0	0
Equity in losses of unconsolidated businesses									(15)	(186)	(77)
Other income (expense), net									(2,900)	2,364	(2,021)
Interest expense									(4,730)	(4,833)	(4,733)
Income Before (Provision) Benefit For Income Taxes									22,733	19,623	20,594
Operating Segments
Segment Reporting Information [Line Items]
Operating Income									32,723	32,179	29,214
Corporate and other
Segment Reporting Information [Line Items]
Operating Income									$ (1,403)	$ (1,326)	$ (1,119)

Equity and Comprehensive Inco_3

Equity and Comprehensive Income Equity (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2019	Feb. 28, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Feb. 21, 2020
Class of Stock [Line Items]
Number of shares authorized to be repurchased (in shares)	100,000,000		100,000,000
Number of shares repurchased (in shares)			0	0	0
Common shares issued from Treasury stock (in shares)			3,800,000	3,500,000	2,800,000
Affiliated Entity
Class of Stock [Line Items]
Shares issued (in shares)	46,100
Affiliated Entity | Preferred Stock
Class of Stock [Line Items]
Preferred stock dividend rate	8.25%
Sale of Preferred Shares | Affiliated Entity
Class of Stock [Line Items]
Cash consideration	$ 51
Subsequent event
Class of Stock [Line Items]
Number of shares authorized to be repurchased (in shares)						100,000,000
Straight Path
Class of Stock [Line Items]
Number of shares issued related to assets purchase		49,000,000
Equity issued related to assets purchase		$ 2,400

Comprehensive Income (Detail)

Comprehensive Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019	Jan. 01, 2018	Jan. 01, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	$ 54,710	$ 44,687
Other comprehensive income	(675)	(855)	$ 1,400
Amounts reclassified to net income	(697)	(64)	(1,414)
Other comprehensive loss attributable to Verizon	(1,372)	(919)	(14)
Balance at end of year	62,835	54,710	44,687
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(600)	(468)	(713)
Opening balance sheet adjustment (Note 1)					$ (15)
Adjusted opening balance					(483)
Other comprehensive income	16	(117)	245
Amounts reclassified to net income	0	0	0
Other comprehensive loss attributable to Verizon	16	(117)	245
Balance at end of year	(584)	(600)	(468)
Unrealized gains (losses) on cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(80)	(111)	(80)
Opening balance sheet adjustment (Note 1)					(24)
Adjusted opening balance					(135)
Other comprehensive income	(699)	(574)	818
Amounts reclassified to net income	(37)	629	(849)
Other comprehensive loss attributable to Verizon	(736)	55	(31)
Balance at end of year	(816)	(80)	(111)
Unrealized gains (losses) on marketable securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	20	32	46
Opening balance sheet adjustment (Note 1)					(13)
Adjusted opening balance					19
Other comprehensive income	8	0	10
Amounts reclassified to net income	(1)	1	(24)
Other comprehensive loss attributable to Verizon	7	1	(14)
Balance at end of year	27	20	32
Defined benefit pension and postretirement plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	3,030	3,206	3,420
Opening balance sheet adjustment (Note 1)					682
Adjusted opening balance					3,888
Other comprehensive income	0	(164)	327
Amounts reclassified to net income	(659)	(694)	(541)
Other comprehensive loss attributable to Verizon	(659)	(858)	(214)
Balance at end of year	2,371	3,030	3,206
Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	2,370	2,659	2,673
Opening balance sheet adjustment (Note 1)				$ 0	630	$ 0
Adjusted opening balance				$ 2,370	$ 3,289	$ 2,673
Balance at end of year	$ 998	$ 2,370	$ 2,659

Additional Financial Informat_3

Additional Financial Information - Income Statement Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation expense	$ 14,371	$ 15,186	$ 14,741
Interest costs on debt balances	5,221	5,399	5,256
Net amortization of debt discount	165	174	155
Capitalized interest costs	(656)	(740)	(678)
Advertising expense	3,071	2,682	2,643
Other income (expense), net
Interest income	121	94	82
Other components of net periodic benefit (cost) income	627	3,068	(11)
Early debt extinguishment costs	3,604	725	1,983
Other, net	(44)	(73)	(109)
Other income (expense), net	$ (2,900)	$ 2,364	$ (2,021)

Additional Financial Informat_4

Additional Financial Information - Balance Sheet Information (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Prepaid expenses and other
Prepaid taxes	$ 2,438		$ 348
Deferred contract costs	2,578		2,083
Restricted cash	1,221		1,047
Other prepaid expense and other	1,791		1,975
Prepaid expenses and other	8,028	$ 5,124	5,453
Accounts payable and accrued liabilities
Accounts payable	7,725		7,232
Accrued expenses	5,984		5,948
Accrued vacation, salaries and wages	4,885		6,268
Interest payable	1,441		1,570
Taxes payable	1,771		1,483
Total accounts payable and accrued liabilities	21,806	22,498	22,501
Other current liabilities
Dividends payable	2,566		2,512
Contract liability	4,651		4,207
Other	1,807		1,520
Total other current liabilities	$ 9,024	$ 8,237	$ 8,239

Additional Financial Informat_5

Additional Financial Information - Cash Flow Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Paid
Interest, net of amounts capitalized	$ 4,714	$ 4,408	$ 4,369
Income taxes, net of amounts refunded	3,583	2,213	4,432
Other, net Cash Flows from Operating Activities
Changes in device payment plan agreement non-current receivables	23	(509)	(579)
Early debt extinguishment costs	3,604	725	1,983
Other, net	(228)	3	(728)
Other, net Cash Flows from Operating Activities	3,399	219	676
Other, net Cash Flows from Financing Activities
Net debt related costs	(1,797)	(141)	(3,599)
Change in short-term obligations, excluding current maturities	0	(790)	(170)
Other, net	(1,120)	(893)	(670)
Other, net Cash Flows from Financing Activities	$ (2,917)	$ (1,824)	$ (4,439)

Commitments and Contingencies (

Commitments and Contingencies (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)LegalMatter	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Approximate number of federal district court actions alleged for patent infringement | LegalMatter	25
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Guarantee obligations, year term (in years)	30 years
Letters of credit	$ 632
Purchase commitments	18,800
Purchase commitments due in 2019	8,400
Purchase commitments due in 2020 through 2021	7,500
Purchase commitments due in 2022 through 2023	1,400
Purchase commitments due thereafter	1,500
Purchases against commitments	$ 10,900	$ 9,000	$ 8,200
Payment Guarantee
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Guarantee obligations, year term (in years)	12 years

Quarterly Financial Informati_3

Quarterly Financial Information (Unaudited) (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information [Line Items]
Operating Revenues	$ 34,775	$ 32,894	$ 32,071	$ 32,128	$ 34,281	$ 32,607	$ 32,203	$ 31,772	$ 131,868	$ 130,863	$ 126,034
Operating Income	6,639	8,180	7,850	7,709	637	7,675	6,617	7,349	30,378	22,278	27,425
Net Income	5,217	5,337	4,074	5,160	2,065	5,062	4,246	4,666	19,788	16,039	30,550
Net Income Attributable to Verizon	$ 5,095	$ 5,194	$ 3,944	$ 5,032	$ 1,939	$ 4,924	$ 4,120	$ 4,545	$ 19,265	$ 15,528	$ 30,101
Basic Earnings Per Share Attributable to Verizon (in USD per share)	$ 1.23	$ 1.26	$ 0.95	$ 1.22	$ 0.47	$ 1.19	$ 1	$ 1.11	$ 4.66	$ 3.76	$ 7.37
Diluted Earnings Per Share Attributable to Verizon (in USD per share)	$ 1.23	$ 1.25	$ 0.95	$ 1.22	$ 0.47	$ 1.19	$ 1	$ 1.11	$ 4.65	$ 3.76	$ 7.36
Deferred tax benefit from internal reorganization of legal entities					$ 2,100					$ 2,100
Severance, pension and benefits charges (credits)
Quarterly Financial Information [Line Items]
After-tax credits (charges) included in consolidated results of operations	$ 108	$ 215	$ 0	$ (71)	108	$ (335)	$ 250	$ 0
Early debt redemption costs
Quarterly Financial Information [Line Items]
After-tax credits (charges) included in consolidated results of operations	1,520	0	1,140	0	0	352	0	184
Acquisition and integration related charges
Quarterly Financial Information [Line Items]
After-tax credits (charges) included in consolidated results of operations	0	0	0	0	142	103	92	82
Product realignment charges
Quarterly Financial Information [Line Items]
After-tax credits (charges) included in consolidated results of operations	0	0	0	0	0	0	509	0
Net gain from dispositions of assets and businesses
Quarterly Financial Information [Line Items]
After-tax credits (charges) included in consolidated results of operations	0	(224)	0	0	0	0	0	0
Disposition of preferred stock
Quarterly Financial Information [Line Items]
After-tax credits (charges) included in consolidated results of operations	(2,247)	0	0	0	0	0	0	0
Impairment charges
Quarterly Financial Information [Line Items]
After-tax credits (charges) included in consolidated results of operations	214	0	0	0	4,527	0	0	0
Historical Wireless legal entity restructuring
Quarterly Financial Information [Line Items]
After-tax credits (charges) included in consolidated results of operations	$ 0	$ 0	$ 0	$ 0	$ (2,065)	$ 0	$ 0	$ 0

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for Uncollectible Accounts Receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 930	$ 1,199	$ 1,146
Charged to Expenses	1,441	776	1,167
Charged to Other Accounts	133	216	205
Deductions	1,644	1,261	1,319
Balance at End of Period	860	930	1,199
Allowance for Uncollectible Accounts Receivable | Long-term device installment plan receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	165	260
Balance at End of Period	127	165	260
Valuation Allowance for Deferred Tax Assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	2,741	3,293	2,473
Charged to Expenses	402	251	765
Charged to Other Accounts	8	112	273
Deductions	891	915	218
Balance at End of Period	$ 2,260	$ 2,741	$ 3,293

Uncategorized Items - _IXDS

Label	Element	Value
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 37,867,000,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	43,952,000,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	15,059,000,000
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	44,000,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	1,000,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	1,508,000,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	1,566,000,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 1,635,000,000