Verizon Communications (VZ) 10-Q 27 Apr 20 2020 Q1 Quarterly report Financial data

Cover

Cover	3 Months Ended
	Mar. 31, 2020shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
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 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 Common Stock, Shares Outstanding	4,137,995,405
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000732712
Current Fiscal Year End Date	--12-31
Common Stock | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.10
Trading Symbol	VZ
Security Exchange Name	NYSE
Common Stock | The NASDAQ Global Select Market
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.10
Trading Symbol	VZ
Security Exchange Name	NASDAQ
2.375% Notes due 2022
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity 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
Entity Information [Line Items]
Title of 12(b) Security	1.500% Notes due 2039
Trading Symbol	VZ39C
Security Exchange Name	NYSE
3.500% Fixed Rate Notes due 2039
Entity Information [Line Items]
Title of 12(b) Security	3.500% Fixed Rate Notes due 2039
Trading Symbol	VZ39D
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Revenues
Operating Revenues	$ 31,610	$ 32,128
Operating Expenses
Selling, general and administrative expense	8,585	7,198
Depreciation and amortization expense	4,150	4,231
Total Operating Expenses	25,031	24,419
Operating Income	6,579	7,709
Equity in losses of unconsolidated businesses	(12)	(6)
Other income, net	143	295
Interest expense	(1,034)	(1,210)
Income Before Provision For Income Taxes	5,676	6,788
Provision for income taxes	(1,389)	(1,628)
Net Income	4,287	5,160
Net income attributable to noncontrolling interests	131	128
Net income attributable to Verizon	4,156	5,032
Net Income	$ 4,287	$ 5,160
Basic Earnings Per Common Share
Net income attributable to Verizon (USD per share)	$ 1	$ 1.22
Weighted-average shares outstanding (in shares)	4,139	4,138
Diluted Earnings Per Common Share
Net income attributable to Verizon (USD per share)	$ 1	$ 1.22
Weighted-average shares outstanding (in shares)	4,141	4,140
Service and Other
Operating Revenues
Operating Revenues	$ 27,481	$ 27,197
Service
Operating Expenses
Cost of services and equipment	7,754	7,792
Wireless equipment
Operating Revenues
Operating Revenues	4,129	4,931
Operating Expenses
Cost of services and equipment	$ 4,542	$ 5,198

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 4,287	$ 5,160
Other Comprehensive Income (Loss), Net of Tax (Expense) Benefit
Foreign currency translation adjustments, net of tax of $(4) and $(5)	(120)	24
Unrealized loss on cash flow hedges, net of tax of $792 and $5	(2,210)	(13)
Unrealized gain (loss) on marketable securities, net of tax of $1 and $(2)	(1)	4
Defined benefit pension and postretirement plans, net of tax of $56 and $56	(169)	(169)
Other comprehensive loss attributable to Verizon	(2,500)	(154)
Total Comprehensive Income	1,787	5,006
Comprehensive income attributable to noncontrolling interests	131	128
Comprehensive income attributable to Verizon	1,656	4,878
Total Comprehensive Income	$ 1,787	$ 5,006

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ (4)	$ (5)
Unrealized gain (loss) on cash flow hedges, tax	792	5
Unrealized gain (loss) on marketable securities, tax	1	(2)
Defined benefit pension and postretirement plans, tax	$ 56	$ 56

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 7,047	$ 2,594
Accounts receivable	24,852	26,162
Less: Allowance for credit losses	1,055	0
Less: Allowance for doubtful accounts	0	733
Accounts receivable, net (Note 1)	23,797	25,429
Inventories	1,633	1,422
Prepaid expenses and other	8,228	8,028
Total current assets	40,705	37,473
Property, plant and equipment	268,993	265,734
Less accumulated depreciation	176,816	173,819
Property, plant and equipment, net	92,177	91,915
Investments in unconsolidated businesses	543	558
Wireless licenses	92,471	95,059
Goodwill	24,382	24,389
Other intangible assets, net	9,371	9,498
Operating lease right-of-use assets	22,472	22,694
Other assets	12,379	10,141
Total assets	294,500	291,727
Current liabilities
Debt maturing within one year	11,175	10,777
Accounts payable and accrued liabilities	17,419	21,806
Current operating lease liabilities	3,331	3,261
Other current liabilities	9,132	9,024
Total current liabilities	41,057	44,868
Long-term debt	106,561	100,712
Employee benefit obligations	17,617	17,952
Deferred income taxes	33,709	34,703
Non-current operating lease liabilities	18,117	18,393
Other liabilities	15,786	12,264
Total long-term liabilities	191,790	184,024
Commitments and Contingencies
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	13,302	13,419
Retained earnings	54,557	53,147
Accumulated other comprehensive income (loss)	(1,502)	998
Common stock in treasury, at cost (153,438,241 and 155,605,527 shares outstanding)	(6,725)	(6,820)
Deferred compensation – employee stock ownership plans and other	149	222
Noncontrolling interests	1,443	1,440
Total equity	61,653	62,835
Total liabilities and equity	$ 294,500	$ 291,727

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 1,055	$ 0
Series preferred stock, par value (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 (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 issued (in shares)	153,438,241	155,605,527

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities
Net Income	$ 4,287	$ 5,160
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	4,150	4,231
Employee retirement benefits	(1)	(195)
Deferred income taxes	(87)	459
Provision for uncollectible accounts	553	319
Equity in losses of unconsolidated businesses, net of dividends received	26	21
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses	(1,208)	(2,702)
Discretionary employee benefits contributions	0	(300)
Other, net	1,104	88
Net cash provided by operating activities	8,824	7,081
Cash Flows from Investing Activities
Capital expenditures (including capitalized software)	(5,274)	(4,268)
Acquisitions of businesses, net of cash acquired	0	(25)
Acquisitions of wireless licenses	(210)	(104)
Other, net	(1,496)	(406)
Net cash used in investing activities	(6,980)	(4,803)
Cash Flows from Financing Activities
Proceeds from long-term borrowings	5,848	2,131
Proceeds from asset-backed long-term borrowings	2,844	1,117
Repayments of long-term borrowings and finance lease obligations	(1,700)	(2,963)
Repayments of asset-backed long-term borrowings	(2,229)	(813)
Dividends paid	(2,547)	(2,489)
Other, net	347	360
Net cash provided by (used in) financing activities	2,563	(2,657)
Increase (decrease) in cash, cash equivalents and restricted cash	4,407	(379)
Cash, cash equivalents and restricted cash, beginning of period	3,917	3,916
Cash, Cash equivalents and restricted cash, end of period (Note 1)	$ 8,324	$ 3,537

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) in the United States (U.S.) and based upon Securities and Exchange Commission rules that permit reduced disclosure for interim periods. For a more complete discussion of significant accounting policies and certain other information, you should refer to the financial statements included in Verizon Communications Inc.'s (Verizon or the Company) Annual Report on Form 10-K for the year ended December 31, 2019 . These financial statements reflect all adjustments that are necessary for a fair presentation of results of operations and financial condition for the interim periods shown, including normal recurring accruals and other items. The results for the interim periods are not necessarily indicative of results for the full year. Following our strategic reorganization, 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 ). As of April 1, 2019 and in conjunction with the new reporting structure, we recast our segment disclosures for the period ending March 31, 2019. Certain amounts have been reclassified to conform to the current period’s presentation Use of Estimates U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions take into account historical and forward looking factors that the Company believes are reasonable, including but not limited to the potential impacts arising from the recent novel coronavirus (COVID-19) and public and private sector policies and initiatives aimed at reducing its transmission. As the extent and duration of the impacts from COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from those estimates. Examples of significant estimates include the allowance for credit losses, 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. Earnings Per Common Share There were a total of approximately 2 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for both the three months ended March 31, 2020 and March 31, 2019 . 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 condensed consolidated balance sheets. Cash, cash equivalents and restricted cash are included in the following line items in the condensed consolidated balance sheets: At March 31, At December 31, Increase / (Decrease) (dollars in millions) 2020 2019 Cash and cash equivalents $ 7,047 $ 2,594 $ 4,453 Restricted cash: Prepaid expenses and other 1,154 1,221 (67 ) Other assets 123 102 21 Cash, cash equivalents and restricted cash $ 8,324 $ 3,917 $ 4,407 Allowance for Credit Losses Prior to January 1, 2020, accounts receivable were recorded at cost less an allowance for doubtful accounts. The gross amount of accounts receivable and corresponding allowance for doubtful accounts are presented separately in the condensed consolidated balance sheets. We maintained 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 receivables are considered financial instruments and were initially recorded at fair value net of imputed interest, and credit losses were recorded as incurred. However, receivable balances were assessed quarterly for impairment and an allowance was recorded if the receivable was considered impaired. Subsequent to January 1, 2020, accounts receivable are recorded at amortized cost less an allowance for expected credit losses that are not expected to be recovered. The gross amount of accounts receivable and corresponding allowance for credit losses are presented separately in the condensed consolidated balance sheets. We maintain allowances for credit losses resulting from the expected failure or inability of our customers to make required payments. We recognize the allowance for expected credit losses at inception and reassess quarterly based on management’s expectation of the asset’s collectability. The allowance is based on multiple factors including historical experience with bad debts, the credit quality of the customer base, the aging of such receivables and current macroeconomic conditions as well as management’s expectations of conditions in the future, if applicable. Our allowance for uncollectible accounts receivable is based on management’s assessment of the collectability of assets pooled together with similar risk characteristics. We pool our device payment plan agreement receivables based on the credit quality indicators and shared risk characteristics of "new customers" and "existing customers". New customers are defined as customers who have been with Verizon for less than 210 days if they are classified as a Consumer segment customer, or less than 12 months if they are classified as a Business segment customer. Existing customers are defined as customers who have been with Verizon for more than 210 days if they are in Consumer, or more than 12 months if they are in Business. We record an allowance to reduce the receivables to the amount that is expected to be collectible. For device payment plan agreement receivables, we record bad debt expense based on a default and loss calculation using our proprietary loss model. The expected loss rate is determined based on customer credit scores and other qualitative factors as noted above. The loss rate is assigned individually on a customer by customer basis and the custom credit scores are then aggregated by vintage and used in our proprietary loss model to calculate the weighted average loss rate used for determining the allowance balance. We monitor the collectability of our wireless service receivables as one overall pool. Wireline service receivables are disaggregated and pooled by the following customer groups: consumer, small and medium business, global enterprise and wholesale. For wireless service receivables and wireline consumer and small and medium business receivables, the allowance is calculated based on a 12 month rolling average write-off balance multiplied by the average life cycle of an account from billing to write-off. The risk of loss is assessed over the contractual life of the receivables and we adjust the historical loss amounts for current and future conditions based on management’s qualitative considerations. For global enterprise and wholesale wireline receivables, the allowance is based on historical write-off experience and individual customer credit risk, if applicable. We consider multiple factors in determining the allowance as discussed above. Recently Adopted Accounting Standard The following Accounting Standard Updates (ASUs) were issued by the Financial Accounting Standards Board (FASB), and have been recently adopted by Verizon. Description Date of Adoption Effect on Financial Statements ASU 2016-13, ASU 2018-19, ASU 2019-04, and ASU 2019-05, Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued Topic 326 which requires certain financial assets to 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 applies 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 adopted Topic 326 beginning on January 1, 2020 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 recognized and measured estimated credit losses without revising comparative period information or disclosures. We recorded the pre-tax cumulative effect of $265 million ($200 million net of tax) as a reduction to the January 1, 2020 opening balance of retained earnings, which was related to the timing of expected credit loss recognition for certain device payment plan receivables based upon reasonable and supportable forecasts of the future economic condition as of January 1, 2020. Additionally, the adoption of the standard impacted the condensed consolidated balance sheet by presenting financial assets measured at amortized cost separate from the allowance for estimated credit losses. There is no significant impact to our operating results for the current period due to this standard update. ASU 2020-04, Reference Rate Reform (Topic 848) Topic 848 provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. Topic 848 provides optional expedients and exceptions for applying U.S. GAAP to transactions affected by reference rate reform if certain criteria are met. 3/12/2020 Topic 848 was effective for the Company beginning on March 12, 2020, and we will apply the amendments prospectively through December 31, 2022. There was no impact to our condensed consolidation financial statements for the quarter ended March 31, 2020 as a result of adopting this standard update. The cumulative after-tax effect of the changes made to our condensed consolidated balance sheet for the adoption of Topic 326 were as follows: (dollars in millions) At December 31, 2019 Adjustments due to Topic 326 At January 1, 2020 Allowance for credit losses $ — $ 919 $ 919 Allowance for doubtful accounts 733 (733 ) — Other assets 10,141 (79 ) 10,062 Deferred income taxes 34,703 (65 ) 34,638 Retained earnings 53,147 (200 ) 52,947 See Note 6 for additional information related to credit losses, including disclosures required under Topic 326.

Revenues and Contract Costs

Revenues and Contract Costs	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues and Contract Costs	Note 2. Revenues 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. 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 10 for additional information on revenue by segment. Corporate and other includes the results of our media business, Verizon Media Group (Verizon Media) , and other businesses . Verizon Media generated revenues from contracts with customers under Topic 606 of approximately $1.7 billion and $1.8 billion during the three months ended March 31, 2020 and March 31, 2019 , respectively. We also earn revenues that are not accounted for under Topic 606, from leasing arrangements (such as towers), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed on 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. During the three months ended March 31, 2020 and 2019 , revenues from arrangements that were not accounted for under Topic 606 were approximately $812 million and $787 million , 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 March 31, 2020 , month-to-month service contracts represented approximately 88% of our wireless postpaid contracts and approximately 64% of our wireline Consumer and Small and Medium Business contracts, compared to March 31, 2019 , for which month-to-month service contracts represented approximately 86% of our wireless postpaid contracts and 55% 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 contracts that are not accounted for as month-to-month contracts. 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 Verizon 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 February 2025 and have aggregate contract minimum payments totaling $3.2 billion . At March 31, 2020 , the transaction price related to unsatisfied performance obligations for total Verizon that is expected to be recognized for the remainder of 2020, 2021 and thereafter was $16.1 billion , $11.3 billion and $2.0 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 condensed consolidated balance sheets 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. 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. 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 condensed consolidated balance sheets as Prepaid expenses and other and Other assets. We recognize the allowance for expected credit losses at inception and reassess quarterly based on management’s expectation of the asset’s collectability. 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 condensed consolidated balance sheets as Other current liabilities and Other liabilities. The following table presents information about receivables from contracts with customers: At March 31, At January 1, At March 31, At January 1, (dollars in millions) 2020 2020 2019 2019 Receivables (1) $ 11,273 $ 12,078 $ 11,601 $ 12,104 Device payment plan agreement receivables (2) 10,955 11,741 9,687 8,940 (1) Balances do not include receivables related to the following contracts: leasing arrangements (such as towers), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed on 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 6 . 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 March 31, At January 1, At March 31, At January 1, (dollars in millions) 2020 2020 2019 2019 Contract asset $ 1,135 $ 1,150 $ 1,021 $ 1,003 Contract liability (1) 5,347 5,307 4,973 4,943 (1) Revenue recognized related to contract liabilities existing at January 1, 2020 and January 1, 2019 were $ 3.8 billion and $3.7 billion , for the three months ended March 31, 2020 and March 31, 2019 , respectively. The balance of contract assets and contract liabilities recorded in our condensed consolidated balance sheets were as follows: At March 31, At December 31, (dollars in millions) 2020 2019 Assets Prepaid expenses and other $ 844 $ 848 Other assets 291 302 Total $ 1,135 $ 1,150 Liabilities Other current liabilities $ 4,675 $ 4,651 Other liabilities 672 656 Total $ 5,347 $ 5,307 Contract Costs Topic 606 requires the recognition of an asset for incremental costs to obtain a customer contract, which are then amortized to expense over the respective periods of expected benefit. We recognize an asset for incremental commission expenses 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 in 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 two- to five-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 condensed consolidated balance sheets were as follows: At March 31, At December 31, (dollars in millions) 2020 2019 Assets Prepaid expenses and other $ 2,523 $ 2,578 Other assets 1,835 1,911 Total $ 4,358 $ 4,489 For the three months ended March 31, 2020 and 2019 , we recognized expense of $778 million and $615 million , respectively, associated with the amortization of deferred contract costs, primarily within Selling, general and administrative expense in our condensed 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 three months ended March 31, 2020 or March 31, 2019 .

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 3. Acquisitions and Divestitures Spectrum License Transactions In March 2020, the Federal Communication Commission's (FCC) incentive auction for spectrum licenses in the upper 37 Gigahertz (GHz), 39 GHz, and 47 GHz bands concluded. As an incumbent licensee, our 39 GHz licenses provided us with incentive payments that could be applied towards the purchase price of spectrum in the auction or settled in cash. Verizon participated in this incentive auction and was the high bidder on 4,940 licenses, which primarily consisted of 37 GHz and, to a lesser extent, 39 GHz spectrum. The price payable for these licenses amounted to $3.4 billion , of which $1.8 billion will be settled with the relinquished 39 GHz licenses. Through March 31, 2020, Verizon paid cash deposits of approximately $325 million , including $101 million paid in December 2019. The remaining $1.3 billion payment was made in April 2020. The timing of when the new reconfigured licenses will be issued and the cancellation of the licenses relinquished in this auction will be determined by the FCC after all payments have been made. At March 31, 2020, substantially all of our 39 GHz licenses have been reclassified to assets held for sale, included in Other assets in our condensed consolidated balance sheet, and adjusted to a fair value of $1.6 billion . The fair value represents a Level 2 measurement as defined in Accounting Standards Codification 820, Fair Value Measurements and Disclosures and was determined based on the final auction price for each defined geographical area. As a result, a pre-tax net loss of $1.2 billion ( $914 million after-tax) related to the spectrum license auction was recorded in Selling, general and administrative expense in the condensed consolidated statement of income because their exchange for new licenses has commercial substance. During the three months ended March 31, 2020 , we entered into and completed various other wireless license acquisitions for cash consideration of approximately $146 million . Other During the three months ended March 31, 2020 , we completed various other acquisitions for insignificant amounts of cash consideration. In April 2020, we entered into a definitive purchase agreement to acquire Blue Jeans Network, Inc., an enterprise-grade video conferencing and event platform, whose services will be sold to Business customers globally. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the second quarter of 2020.

Wireless Licenses, Goodwill and

Wireless Licenses, Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2020
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: At March 31, At December 31, (dollars in millions) 2020 2019 Wireless licenses $ 92,471 $ 95,059 At March 31, 2020 and 2019 , approximately $3.5 billion and $7.2 billion , respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded approximately $64 million and $88 million of capitalized interest on wireless licenses for the three months ended March 31, 2020 and 2019 , respectively. During the three months ended March 31, 2020 , we reclassified substantially all of our 39GHz wireless licenses, including capitalized interest, with a carrying value of $2.8 billion to assets held for sale in connection with the FCC's incentive auction. These wireless licenses were adjusted down to their fair value of $1.6 billion resulting in a pre-tax loss of $1.2 billion ( $914 million after-tax). See Note 3 for additional information regarding spectrum license transactions. The average remaining renewal period of our wireless licenses portfolio was 4.5 years as of March 31, 2020 . Goodwill Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Consumer Business Other Total Balance at January 1, 2020 (1) $ 17,104 $ 7,269 $ 16 $ 24,389 Reclassifications, adjustments and other — (7 ) — (7 ) Balance at March 31, 2020 (1) $ 17,104 $ 7,262 $ 16 $ 24,382 (1) Goodwill is net of accumulated impairment charges of $4.8 billion , related to our Media reporting unit. Other Intangible Assets The following table displays the composition of Other intangible assets, net as well as the respective amortization period: At March 31, 2020 At December 31, 2019 (dollars in millions) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Customer lists (8 to 13 years) $ 3,894 $ (1,624 ) $ 2,270 $ 3,896 $ (1,511 ) $ 2,385 Non-network internal-use software (3 to 7 years) 20,971 (14,842 ) 6,129 20,530 (14,418 ) 6,112 Other (2 to 25 years) 1,969 (997 ) 972 1,967 (966 ) 1,001 Total $ 26,834 $ (17,463 ) $ 9,371 $ 26,393 $ (16,895 ) $ 9,498 The amortization expense for Other intangible assets was as follows: Three Months Ended (dollars in millions) March 31, 2020 $ 592 2019 555 The estimated future amortization expense for Other intangible assets for the remainder of the current year and next 5 years is as follows: Years (dollars in millions) Remainder of 2020 $ 1,714 2021 2,004 2022 1,715 2023 1,368 2024 1,017 2025 660

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	Note 5. Debt Significant Debt Transactions The following table shows the transactions that occurred during the three months ended March 31, 2020 . Redemptions, Repurchases and Repayments (dollars in millions) Principal Redeemed/ Repurchased/ Repaid Amount Paid as % of Principal (1) Verizon 4.950% notes due 2047 $ 1,475 100.000 % (1) Percentage represents price paid to redeem, repurchase and repay. In April 2020, we redeemed, in whole, on the maturity date thereof, subsidiary preferred stock for approximately $1.7 billion , plus accrued and unpaid dividends. Issuances (amounts in millions) Principal Amount Issued Net Proceeds (1) Verizon 3.600% notes due 2060 $ 2,385 $ 2,369 Verizon 3.000% notes due 2027 750 747 Verizon 3.150% notes due 2030 1,500 1,489 Verizon 4.000% notes due 2050 1,250 1,241 Total $ 5,885 $ 5,846 (1) Net proceeds were net of discount and issuance costs. Short-Term Borrowing and Commercial Paper Program In July 2018, we entered into a bilateral short-term uncommitted bank credit facility with the ability to borrow up to $700 million . During the three months ended March 31, 2020 , we drew $700 million under the facility, all of which remained outstanding at March 31, 2020 . In April 2020, we repaid $700 million related to our short-term uncommitted credit facility. As of March 31, 2020 , we had no commercial paper outstanding. In April 2020, we issued $3.5 billion in commercial paper, $2.5 billion of which has a maturity date during the three months ended June 30, 2020 and $1.0 billion of which has a maturity date during the three months ended September 30, 2020. Asset-Backed Debt As of March 31, 2020 , the carrying value of our asset-backed debt was $13.0 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 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 condensed consolidated balance sheets. Proceeds from our asset-backed debt transactions are reflected in Cash flows from financing activities in our condensed consolidated statements of cash flows. The asset-backed debt issued and the assets securing this debt are included in our condensed consolidated balance sheets. The holders of our asset-backed debt do not have any recourse to Verizon with respect to the payment of principal and interest on the debt. However, if an early amortization of our asset-backed debt occurs, including as a result of increased customer delinquencies or losses relating to COVID-19, all collections on the securitized device payment plan agreement receivables would be used to pay principal and interest on the asset-backed debt, and our financing cash flows requirements would increase for the twelve months immediately following an early amortization event. ABS Notes During the three months ended March 31, 2020 , we completed the following ABS Notes transactions: (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued A-1a Senior class notes 1.850 2.46 $ 1,326 A-1b Senior floating rate class notes LIBOR + 0.270 (1) 2.46 100 B Junior class notes 1.980 3.18 98 C Junior class notes 2.060 3.36 76 Total $ 1,600 (1) The one-month London Interbank Offered Rate (LIBOR) at March 31, 2020 was 0.993 %. 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. During the three months ended March 31, 2020 , we made aggregate principal repayments of $979 million on ABS Notes that have entered the amortization period. ABS Financing Facilities In May 2019, we amended and restated an ABS financing facility originally entered into in 2016 with a number of financial institutions (the 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 January 2020, we prepaid $1.3 billion of the loan under the 2019 loan agreement. In March 2020, we borrowed an additional $1.3 billion under the 2019 loan agreement. The aggregate outstanding balance under the 2019 ABS Financing Facility was $3.3 billion as of March 31, 2020 . Variable Interest Entities (VIEs) The ABS Entities meet the definition of a VIE for which we have determined that we are the primary beneficiary as we have both the power to direct the activities of the entity that most significantly impact the entity’s performance and the obligation to absorb losses or the right to receive benefits of the entity. Therefore, the assets, liabilities and activities of the ABS Entities are consolidated in our financial results and are included in amounts presented on the face of our condensed consolidated balance sheets. The assets and liabilities related to our asset-backed debt arrangements included in our condensed consolidated balance sheets were as follows: At March 31, At December 31, (dollars in millions) 2020 2019 Assets Account receivable, net $ 10,444 $ 10,525 Prepaid expenses and other 1,108 1,180 Other assets 3,720 3,856 Liabilities Accounts payable and accrued liabilities 11 11 Short-term portion of long-term debt 5,804 5,578 Long-term debt 7,185 6,791 See Note 6 for additional information on device payment plan agreement receivables used to secure asset-backed debt. Long-Term Credit Facilities At March 31, 2020 (dollars in millions) Maturities Facility Capacity Unused Capacity Principal Amount Outstanding Verizon revolving credit facility (1) 2022 $ 9,500 $ 9,391 N/A Various export credit facilities (2) 2022-2027 5,500 — 4,382 Total $ 15,000 $ 9,391 $ 4,382 (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) These credit facilities were used to finance equipment-related purchases. Borrowings under certain of these facilities amortize semi-annually in equal installments up to the applicable maturity dates. Non-Cash Transactions During the three months ended March 31, 2020 and 2019 , we financed, primarily through vendor financing arrangements, the purchase of approximately $502 million and $115 million , respectively, of long-lived assets consisting primarily of network equipment. At both March 31, 2020 and 2019 , $1.5 billion and $1.0 billion , respectively, 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 condensed consolidated statements of cash flows. Guarantees We guarantee the debentures of our operating telephone company subsidiaries. As of March 31, 2020 , $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 March 31, 2020 , $391 million aggregate principal amount of these obligations remained outstanding. Covenants We and our consolidated subsidiaries are in compliance with all of our restrictive covenants.

Device Payment Plan Agreement a

Device Payment Plan Agreement and Wireless Service Receivables	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Device Payment Plan and Wireless Service Receivables	Note 6. Device Payment Plan Agreement and Wireless Service Receivables The following table presents information about accounts receivable, net of allowances, recorded in our condensed consolidated balance sheet: At March 31, 2020 (dollars in millions) Device payment plan agreement Wireless service Other receivables (1) Total Accounts receivable (2) $ 12,824 $ 5,244 $ 6,784 $ 24,852 Less: Allowance for credit losses 606 228 221 1,055 Accounts receivable, net of allowance $ 12,218 $ 5,016 $ 6,563 $ 23,797 (1) Other receivables primarily include wireline receivables, Verizon Media receivables and other receivables, the allowances for which are individually insignificant (2) Following the adoption of Topic 326 on January 1, 2020, accounts receivable are measured at amortized cost 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. The following table displays device payment plan agreement receivables, net, recognized in our condensed consolidated balance sheets: At March 31, At December 31, (dollars in millions) 2020 2019 (1) Device payment plan agreement receivables, gross $ 18,320 $ 19,493 Unamortized imputed interest (425 ) (454 ) Device payment plan agreement receivables, at amortized cost 17,895 19,039 Allowance (2) (830 ) (472 ) Device payment plan agreement receivables, net $ 17,065 $ 18,567 Classified in our condensed consolidated balance sheets: Accounts receivable, net $ 12,218 $ 13,045 Other assets 4,847 5,522 Device payment plan agreement receivables, net $ 17,065 $ 18,567 (1) Balances reflected are prior to the adoption of Topic 326 on January 1, 2020 (2) Includes allowance for both short-term and long-term device payment plan agreement receivables. The allowance as of March 31, 2020 and December 31, 2019 relate to our provision for credit losses and doubtful accounts, respectively. Included in our device payment plan agreement receivables at March 31, 2020 and December 31, 2019 , are net device payment plan agreement receivables of $14.1 billion and $14.3 billion , respectively, which have been transferred to ABS Entities and continue to be reported in our condensed consolidated balance sheets. See Note 5 for additional information. We believe the carrying value of these receivables approximate their fair value using a Level 3 expected cash flow model. 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 condensed consolidated statements of income, is recognized over the financed device payment term. Promotions 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 measured at fair value, for the customer’s right to trade-in the device 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 March 31, 2020 and December 31, 2019 , the amount of trade-in liability was $90 million and $103 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. Origination of Device Payment Plan Agreements When originating device payment plan agreements, we use internal and external data sources to create a credit risk score to measure the credit quality of a customer and to determine eligibility for the device payment program. Verizon’s experience has been that the payment attributes of longer tenured customers are highly predictive for estimating their reliability to make future payments. Customers with longer tenures tend to exhibit similar risk characteristics to other customers with longer tenures, and receivables due from customers with longer tenures tend to perform better than receivables from customers that have not previously been Verizon customers. As a result of this experience, we make initial lending decisions based upon whether the customers are "established customers" or "short-tenured customers." If a Consumer customer has been a customer for 45 days or more, or if a Business customer has been a customer for 12 months or more, the customer is considered an "established customer." For established customers, the credit decision and ongoing credit monitoring processes rely on a combination of internal and external data sources. If a Consumer customer has been a customer less than 45 days , or a Business customer has been a customer for less than 12 months , the customer is considered a "short-tenured customer." For short-tenured customers, the credit decision and credit monitoring processes rely more heavily on external data sources. Internal data and/or external credit data are obtained from the credit reporting agencies, if available, to create a custom credit risk score for Consumer customers. The custom credit risk score is generated automatically from the applicant’s credit data using proprietary custom credit models. 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 short-tenured 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, alternative credit data is used for the risk assessment. For Business customers, we also verify the existence of the business with external data sources. 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, we moved all Consumer customers, short-tenured and established, from a required down payment percentage, between zero and 100% , to a maximum amount of credit per device. Credit Quality Information Subsequent to origination, we assess indicators for the quality of our wireless device payment plan agreement portfolio using two models, one for new customers and one for existing customers. The model for new customers pools all Consumer and Business wireless customers based on 210 days and 12 months or less, respectively, as "new customers." The model for existing customers pools all Consumer and Business wireless customers based on 210 days and 12 months or more, respectively, as "existing customers." The following table presents device payment plan agreement receivables, at amortized cost, as of March 31, 2020 , by credit quality indicator and year of origination: Year of Origination (dollars in millions) 2020 2019 2018 Prior to 2018 Total New customers $ 560 $ 1,930 $ 348 $ 44 $ 2,882 Existing customers 2,720 9,858 2,404 31 15,013 Total $ 3,280 $ 11,788 $ 2,752 $ 75 $ 17,895 The data presented in the table above was last updated on March 31, 2020 . We assess indicators for the quality of our wireless service receivables portfolio as one overall pool. As of March 31, 2020 , wireless service receivables, at amortized cost, originating in 2020 and 2019 were $5.1 billion and $149 million , respectively. Allowance for Credit Losses The credit quality indicators are used in determining the estimated amount and the timing of expected credit losses for the device payment plan agreement and wireless service receivables portfolios. Activity in the allowance for credit losses by portfolio segment of receivables were as follows: (dollars in millions) Device Payment Plan Agreement Receivables (1) Wireless Service Plan Receivables Balance at January 1, 2020 $ 472 $ 156 Opening balance sheet adjustment related to Topic 326 adoption 265 — Adjusted opening balance, January 1, 2020 737 156 Current period provision for expected credit losses 312 170 Write-offs charged against the allowance (229 ) (113 ) Recoveries collected 10 15 Balance at March 31, 2020 $ 830 $ 228 (1) Includes allowance for both short-term and long-term device payment plan agreement receivables We monitor delinquency and write-off experience based on the quality of our device payment plan agreement and wireless service receivables portfolios. The extent of our collection efforts with respect to a particular customer are based on the results of our proprietary custom internal scoring models that analyze the customer’s past performance to predict the likelihood of the customer falling further delinquent. These custom scoring models assess a number of variables, including origination characteristics, customer account history and payment patterns. Since our customers’ behaviors may be impacted by general economic conditions, we analyzed whether changes in macroeconomic conditions impact our credit loss experience and have concluded that our credit loss estimates are generally not materially impacted by reasonable and supportable forecasts of future economic conditions. 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. For device payment plan agreement receivables, we consider 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. For wireless service receivables, an account is considered delinquent 34 days after the bill cycle date. The risk class determines the speed and severity of the collections effort including initiatives taken to facilitate customer payment. As of March 31, 2020, our allowance for credit losses considered the current and potential future impacts caused by COVID-19 based on available information to date. The impacts include the Company's commitment to the FCC's "Keep Americans Connected" pledge for 60 days starting March 13, 2020 to provide temporary financial relief to consumer and small business customers impacted by COVID-19. The balance and aging of the device payment plan agreement receivables, at amortized cost, were as follows: At March 31, (dollars in millions) 2020 Unbilled $ 16,636 Billed: Current 965 Past due 294 Device payment plan agreement receivables, at amortized cost $ 17,895

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7. Fair Value Measurements Recurring Fair Value Measurements The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2020 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Fixed income securities $ — $ 444 $ — $ 444 Interest rate swaps — 1,874 — 1,874 Foreign exchange forwards — 31 — 31 Total $ — $ 2,349 $ — $ 2,349 Liabilities: Other liabilities: Interest rate swaps $ — $ 344 $ — $ 344 Cross currency swaps — 3,651 — 3,651 Forward starting interest rate swaps — 1,151 — 1,151 Total $ — $ 5,146 $ — $ 5,146 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 (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 condensed consolidated balance sheets. As of March 31, 2020 and December 31, 2019 , the carrying amount of our investments without readily determinable fair values were $266 million and $284 million , respectively. During the three months ended March 31, 2020 , there were insignificant adjustments due to observable price changes and there were no impairment charges. 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. Cash flows from derivatives designated in a qualifying hedging relationship are classified in the same category as the cash flows from the hedged items. We recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. 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 debt instruments, which is a Level 1 measurement, as well as quoted prices for similar debt instruments with comparable terms and maturities, which is a Level 2 measurement. The fair value of our short-term and long-term debt, excluding finance leases, was as follows: Fair Value (dollars in millions) Carrying Amount Level 1 Level 2 Level 3 Total At December 31, 2019 $ 110,373 $ 86,712 $ 42,488 $ — $ 129,200 At March 31, 2020 116,557 91,754 44,794 — 136,548 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 interest rate swaps, cross currency swaps, forward starting interest rate swaps, treasury rate locks, interest rate caps and foreign exchange forwards. We do not hold derivatives for trading purposes. The following table sets forth the notional amounts of our outstanding derivative instruments: At March 31, At December 31, (dollars in millions) 2020 2019 Interest rate swaps $ 17,909 $ 17,004 Cross currency swaps 23,070 23,070 Forward starting interest rate swaps 2,000 3,000 Interest rate caps 409 679 Foreign exchange forwards 955 1,130 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 condensed consolidated balance sheets as assets and liabilities. Changes in the fair value of the interest rate swaps are recorded to Interest expense, which are offset by changes in the fair value of the hedged debt due to changes in interest rates. During the three months ended March 31, 2020 , we entered into and settled interest rate swaps with a total notional value of $2.4 billion and $1.5 billion , respectively. During the three months ended March 31, 2019 , we entered into and settled interest rate swaps with a total notional value of $510 million and $1.2 billion , respectively. The ineffective portion of these interest rate swaps were gains of $60 million and an insignificant amount for the three months ended March 31, 2020 and 2019 , respectively. The following amounts were recorded in Long-term debt in our condensed consolidated balance sheets related to cumulative basis adjustments for fair value hedges: At March 31, At December 31, (dollars in millions) 2020 2019 Carrying amount of hedged liabilities $ 19,296 $ 17,337 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities 1,491 433 Cross Currency Swaps We have entered into cross currency swaps designated as cash flow hedges to exchange our British Pound Sterling, Euro, Swiss Franc and Australian Dollar-denominated cash flows into U.S. dollars and to fix our cash payments in U.S. dollars, as well as to mitigate the impact of foreign currency transaction gains or losses. During the three months ended March 31, 2020 , we did not enter into or settle any cross currency swaps. During the three months ended March 31, 2020 , a pre-tax loss of $3.0 billion was recognized in Other comprehensive loss . During the three months ended March 31, 2019 , we did not enter into or settle any cross currency swaps and an insignificant pre-tax gain was recognized in Other comprehensive loss . A portion of the gains recognized in Other comprehensive loss was reclassified to Other income, 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. We hedge our exposure to the variability in future cash flows based on the expected maturities of the related forecasted debt issuance. During the three months ended March 31, 2020 , we did not enter into any new forward starting interest rate swaps and we settled forward starting interest rate swaps with a total notional value of $1.0 billion . During the three months ended March 31, 2019 , we did no t enter into any new forward starting interest rate swaps and we settled forward starting interest rate swaps with a total notional value of $1.0 billion . During the three months ended March 31, 2020 and 2019 , pre-tax losses of $840 million and $203 million , respectively, resulting from interest rate movements, were recognized in Other comprehensive loss . Treasury Rate Locks We enter into treasury rate locks to mitigate our interest rate risk. During the three months ended March 31, 2020 , we entered into and settled treasury rate locks designated as cash flow hedges with a total notional value of $500 million and we recognized an insignificant amount in Other comprehensive loss. During the three months ended March 31, 2019 , we did no t enter into or settle any treasury rate locks designated as cash flow hedges, and we did not recognize any amount in our condensed consolidated financial statements. Net Investment Hedges We have designated certain foreign currency debt 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 March 31, 2020 and December 31, 2019 . 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 Facilities and ABS Notes. We did not recognize any amount in Interest expense during the three months ended March 31, 2020 , and we recognized an insignificant amount in Interest expense during the same period in 2019 . 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 the three months ended March 31, 2020 , we entered into and settled foreign exchange forwards with a total notional value of $2.7 billion and $2.8 billion , respectively. During the three months ended March 31, 2019 , we entered into and settled foreign exchange forwards with a total notional value of $3.0 billion and $2.6 billion , respectively. During the three months ended March 31, 2020 and 2019 , insignificant pre-tax losses were recognized in Other income, net for both periods. Treasury Rate Locks We enter into treasury rate locks to mitigate our interest rate risk. During the three months ended March 31, 2020 , we entered into and settled treasury rate locks with a total notional value of $1.6 billion , respectively, and we recognized an insignificant amount in Interest expense. During the three months ended March 31, 2019 , we did no t enter into or settle any treasury rate locks, and we did not recognize any amount in our condensed consolidated financial statements. 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. 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 March 31, 2020 , we held $0.1 billion and posted $1.3 billion of collateral related to derivative contracts under collateral exchange agreements, which were recorded as Other current liabilities and Prepaid expenses and other, respectively, in our condensed consolidated balance sheets. At December 31, 2019 , we held an insignificant amount of collateral related to derivative contracts under collateral exchange arrangements, which were recorded as Other current liabilities in our condensed 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.

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
Employee Benefits	Note 8. 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 event. 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. 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 Three Months Ended March 31, 2020 2019 2020 2019 Service cost - Cost of services $ 59 $ 50 $ 22 $ 20 Service cost - Selling, general and administrative expense 14 11 5 4 Service cost $ 73 $ 61 $ 27 $ 24 Amortization of prior service cost (credit) $ 15 $ 15 $ (241 ) $ (243 ) Expected return on plan assets (297 ) (282 ) (7 ) (9 ) Interest cost 140 178 107 157 Remeasurement loss (gain), net 182 (96 ) — — Other components $ 40 $ (185 ) $ (141 ) $ (95 ) Total $ 113 $ (124 ) $ (114 ) $ (71 ) The service cost component of net periodic benefit cost (income) is recorded in Cost of services and Selling, general and administrative expense in the condensed consolidated statements of income while the other components, including mark-to-market adjustments, if any, are recorded in Other income, net . 2018 Voluntary Separation Program In December 2018, eligible employees began separating from the Company under a Voluntary Separation Program. The program finished at the end of June 2019. The severance benefits payments to these employees were substantially completed by the end of September 2019. Severance Payments During the three months ended March 31, 2020 , we paid severance benefits of $123 million . During the three months ended March 31, 2020 , we recorded net pre-tax severance charges of an insignificant amount. At March 31, 2020 , we had a remaining severance liability of $471 million , a portion of which includes future contractual payments to separated employees. Employer Contributions During the three months ended March 31, 2020 , we made no contributions to our qualified pension plans and made insignificant contributions to our nonqualified pension plans. During the three months ended March 31, 2019 , we made a discretionary pension contribution of $300 million to our qualified pension plans. We do not expect mandatory pension funding through December 31, 2020. There have been no significant changes with respect to the nonqualified pension and other postretirement benefit plans contributions in 2020 . Remeasurement loss (gain), net During the three months ended March 31, 2020 , we recorded a net pre-tax remeasurement loss of $182 million in our pension plans triggered by settlements, primarily driven by a $196 million charge mainly due to changes in our discount rate and lump sum interest rate assumptions used to determine the current year liabilities of our pension plans, offset by a credit due to the difference between our estimated return on assets and our actual return on assets. During the three months ended March 31, 2019 , we recorded a net pre-tax remeasurement gain of $96 million in our pension plans triggered by the Voluntary Separation Program for select U.S.-based management employees and other headcount reduction initiatives, primarily driven by a $150 million credit due to the difference between our estimated return on assets and our actual return on assets, offset by a $54 million charge due to a change in our discount rate assumption used to determine the current year liabilities of our pension plans.

Equity and Accumulated Other Co

Equity and Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Equity and Accumulated Other Comprehensive Income	Note 9. Equity and Accumulated Other Comprehensive Income Equity Changes in the components of Total equity were as follows: (dollars in millions, except per share amounts, and shares in thousands) Three months ended March 31, 2020 2019 Shares Amount Shares Amount Common Stock Balance at beginning of year 4,291,434 $ 429 4,291,434 $ 429 Balance at end of period 4,291,434 429 4,291,434 429 Additional Paid In Capital Balance at beginning of year 13,419 13,437 Other (117 ) (19 ) Balance at end of period 13,302 13,418 Retained Earnings Balance at beginning of year 53,147 43,542 Opening balance sheet adjustment (200 ) (1) 410 (2) Adjusted opening balance 52,947 43,952 Net income attributable to Verizon 4,156 5,032 Dividends declared ($0.6150, $0.6025 per share) (2,546 ) (2,491 ) Balance at end of period 54,557 46,493 Accumulated Other Comprehensive Income (Loss) Balance at beginning of year attributable to Verizon 998 2,370 Foreign currency translation adjustments (120 ) 24 Unrealized loss on cash flow hedges (2,210 ) (13 ) Unrealized gain (loss) on marketable securities (1 ) 4 Defined benefit pension and postretirement plans (169 ) (169 ) Other comprehensive loss (2,500 ) (154 ) Balance at end of period attributable to Verizon (1,502 ) 2,216 Treasury Stock Balance at beginning of year (155,606 ) (6,820 ) (159,400 ) (6,986 ) Employee plans 2,164 95 3,668 161 Shareholder plans 4 — 5 — Balance at end of period (153,438 ) (6,725 ) (155,727 ) (6,825 ) Deferred Compensation-ESOPs and Other Balance at beginning of year 222 353 Restricted stock equity grant 15 35 Amortization (88 ) (263 ) Balance at end of period 149 125 Noncontrolling Interests Balance at beginning of year 1,440 1,565 Opening balance sheet adjustment — 1 (2) Adjusted opening balance 1,440 1,566 Total comprehensive income 131 128 Distributions and other (128 ) (90 ) Balance at end of period 1,443 1,604 Total Equity $ 61,653 $ 57,460 (1) The opening balance sheet adjustment for the three months ended March 31, 2020 is due to the adoption of Topic 326 on January 1, 2020. See Note 1 for additional information. (2) Opening balance sheet adjustments for the three months ended March 31, 2019 are due to the adoption of Topic 842 on January 1, 2019. Refer to the consolidated financial statements included in Verizon's Annual Report on Form 10-K for the year ended December 31, 2019 for additional information. 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. Verizon did not repurchase any shares of Verizon common stock under our authorized share buyback programs during the three months ended March 31, 2020 . At March 31, 2020 , 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 shareowner plans, including 2.2 million common shares issued from Treasury stock during the three months ended March 31, 2020 . Accumulated Other Comprehensive Income (Loss) The changes in the balances of Accumulated other comprehensive income (loss) by component were as follows: (dollars in millions) Foreign currency translation adjustments Unrealized gain (loss) on cash flow hedges Unrealized gain (loss) on marketable securities Defined benefit pension and postretirement plans Total Balance at January 1, 2020 $ (584 ) $ (816 ) $ 27 $ 2,371 $ 998 Other comprehensive loss (120 ) (2,814 ) (1 ) — (2,935 ) Amounts reclassified to net income — 604 — (169 ) 435 Net other comprehensive loss (120 ) (2,210 ) (1 ) (169 ) (2,500 ) Balance at March 31, 2020 $ (704 ) $ (3,026 ) $ 26 $ 2,202 $ (1,502 ) The amounts presented above in net other comprehensive loss are net of taxes. The amounts reclassified to net income related to unrealized loss on cash flow hedges in the table above are included in Other income, net and Interest expense in our condensed consolidated statements of income. See Note 7 for additional information. 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 condensed consolidated statements of income. See Note 8 for additional information.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	Note 10. Segment Information Reportable Segments We have 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 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. Verizon 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. 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 table provides operating financial information for our two reportable segments: Three Months Ended March 31, (dollars in millions) 2020 2019 External Operating Revenues Consumer Service $ 16,343 $ 16,261 Wireless equipment 3,377 4,166 Other 1,986 1,671 Total Consumer 21,706 22,098 Business Global Enterprise 2,630 2,690 Small and Medium Business 2,798 2,704 Public Sector and Other 1,474 1,471 Wholesale 760 841 Total Business 7,662 7,706 Total reportable segments $ 29,368 $ 29,804 Intersegment Revenues Consumer $ 59 $ 50 Business 19 13 Total reportable segments $ 78 $ 63 Total Operating Revenues Consumer $ 21,765 $ 22,148 Business (1) 7,681 7,719 Total reportable segments $ 29,446 $ 29,867 Operating Income Consumer $ 7,282 $ 7,250 Business 954 1,048 Total reportable segments $ 8,236 $ 8,298 (1) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $6.9 billion and $752 million , respectively, for the three months ended March 31, 2020 , and approximately $6.9 billion and $765 million , respectively, for the three months ended March 31, 2019 . The following table provides Fios revenue for our two reportable segments: Three Months Ended March 31, (dollars in millions) 2020 2019 Consumer $ 2,799 $ 2,764 Business 262 243 Total Fios revenue $ 3,061 $ 3,007 The following table provides Wireless service revenue for our reportable segments and includes intersegment activity: Three Months Ended March 31, (dollars in millions) 2020 2019 Consumer $ 13,476 $ 13,357 Business 2,881 2,694 Total Wireless service revenue $ 16,357 $ 16,051 Reconciliation to Consolidated Financial Information A reconciliation of the reportable segment operating revenues to consolidated operating revenues is as follows: Three Months Ended March 31, (dollars in millions) 2020 2019 Total reportable segment operating revenues $ 29,446 $ 29,867 Corporate and other 2,272 2,335 Eliminations (108 ) (74 ) Total consolidated operating revenues $ 31,610 $ 32,128 A reconciliation of the total reportable segment's operating income to consolidated income before provision for income taxes is as follows: Three Months Ended March 31, (dollars in millions) 2020 2019 Total reportable segment operating income $ 8,236 $ 8,298 Corporate and other (259 ) (386 ) Other components of net periodic benefit charges (Note 8) (203 ) (203 ) Loss on spectrum license transaction (Note 3) (1,195 ) — Total consolidated operating income 6,579 7,709 Equity in losses of unconsolidated businesses (12 ) (6 ) Other income, net 143 295 Interest expense (1,034 ) (1,210 ) Income Before Provision For Income Taxes $ 5,676 $ 6,788 No single customer accounted for more than 10% of our total operating revenues during the three months ended March 31, 2020 and 2019 . 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies In the ordinary course of business, Verizon is involved in various commercial litigation and regulatory proceedings at the state and federal level. Where it is determined, in consultation with counsel based on litigation and settlement risks, that a loss is probable and estimable in a given matter, the Company establishes an accrual. In none of the currently pending matters is the amount of accrual 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. During 2020, Verizon entered into two renewable energy purchase agreements (REPAs) with a third party. Each of the REPAs is based on the expected operation of a renewable energy-generating facility and has a fixed price term of 18 years

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) in the United States (U.S.) and based upon Securities and Exchange Commission rules that permit reduced disclosure for interim periods. For a more complete discussion of significant accounting policies and certain other information, you should refer to the financial statements included in Verizon Communications Inc.'s (Verizon or the Company) Annual Report on Form 10-K for the year ended December 31, 2019 . These financial statements reflect all adjustments that are necessary for a fair presentation of results of operations and financial condition for the interim periods shown, including normal recurring accruals and other items. The results for the interim periods are not necessarily indicative of results for the full year.
Segment Reporting	Following our strategic reorganization, 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 ). As of April 1, 2019 and in conjunction with the new reporting structure, we recast our segment disclosures for the period ending March 31, 2019. Certain amounts have been reclassified to conform to the current period’s presentation
Use of Estimates	U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions take into account historical and forward looking factors that the Company believes are reasonable, including but not limited to the potential impacts arising from the recent novel coronavirus (COVID-19) and public and private sector policies and initiatives aimed at reducing its transmission. As the extent and duration of the impacts from COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from those estimates. Examples of significant estimates include the allowance for credit losses, 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.
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 condensed consolidated balance sheets.
Allowance for Credit Losses	Allowance for Credit Losses Prior to January 1, 2020, accounts receivable were recorded at cost less an allowance for doubtful accounts. The gross amount of accounts receivable and corresponding allowance for doubtful accounts are presented separately in the condensed consolidated balance sheets. We maintained 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 receivables are considered financial instruments and were initially recorded at fair value net of imputed interest, and credit losses were recorded as incurred. However, receivable balances were assessed quarterly for impairment and an allowance was recorded if the receivable was considered impaired. Subsequent to January 1, 2020, accounts receivable are recorded at amortized cost less an allowance for expected credit losses that are not expected to be recovered. The gross amount of accounts receivable and corresponding allowance for credit losses are presented separately in the condensed consolidated balance sheets. We maintain allowances for credit losses resulting from the expected failure or inability of our customers to make required payments. We recognize the allowance for expected credit losses at inception and reassess quarterly based on management’s expectation of the asset’s collectability. The allowance is based on multiple factors including historical experience with bad debts, the credit quality of the customer base, the aging of such receivables and current macroeconomic conditions as well as management’s expectations of conditions in the future, if applicable. Our allowance for uncollectible accounts receivable is based on management’s assessment of the collectability of assets pooled together with similar risk characteristics. We pool our device payment plan agreement receivables based on the credit quality indicators and shared risk characteristics of "new customers" and "existing customers". New customers are defined as customers who have been with Verizon for less than 210 days if they are classified as a Consumer segment customer, or less than 12 months if they are classified as a Business segment customer. Existing customers are defined as customers who have been with Verizon for more than 210 days if they are in Consumer, or more than 12 months if they are in Business. We record an allowance to reduce the receivables to the amount that is expected to be collectible. For device payment plan agreement receivables, we record bad debt expense based on a default and loss calculation using our proprietary loss model. The expected loss rate is determined based on customer credit scores and other qualitative factors as noted above. The loss rate is assigned individually on a customer by customer basis and the custom credit scores are then aggregated by vintage and used in our proprietary loss model to calculate the weighted average loss rate used for determining the allowance balance. We monitor the collectability of our wireless service receivables as one overall pool. Wireline service receivables are disaggregated and pooled by the following customer groups: consumer, small and medium business, global enterprise and wholesale. For wireless service receivables and wireline consumer and small and medium business receivables, the allowance is calculated based on a 12 month rolling average write-off balance multiplied by the average life cycle of an account from billing to write-off. The risk of loss is assessed over the contractual life of the receivables and we adjust the historical loss amounts for current and future conditions based on management’s qualitative considerations. For global enterprise and wholesale wireline receivables, the allowance is based on historical write-off experience and individual customer credit risk, if applicable. We consider multiple factors in determining the allowance as discussed above.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	Recently Adopted Accounting Standard The following Accounting Standard Updates (ASUs) were issued by the Financial Accounting Standards Board (FASB), and have been recently adopted by Verizon. Description Date of Adoption Effect on Financial Statements ASU 2016-13, ASU 2018-19, ASU 2019-04, and ASU 2019-05, Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued Topic 326 which requires certain financial assets to 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 applies 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 adopted Topic 326 beginning on January 1, 2020 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 recognized and measured estimated credit losses without revising comparative period information or disclosures. We recorded the pre-tax cumulative effect of $265 million ($200 million net of tax) as a reduction to the January 1, 2020 opening balance of retained earnings, which was related to the timing of expected credit loss recognition for certain device payment plan receivables based upon reasonable and supportable forecasts of the future economic condition as of January 1, 2020. Additionally, the adoption of the standard impacted the condensed consolidated balance sheet by presenting financial assets measured at amortized cost separate from the allowance for estimated credit losses. There is no significant impact to our operating results for the current period due to this standard update. ASU 2020-04, Reference Rate Reform (Topic 848) Topic 848 provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. Topic 848 provides optional expedients and exceptions for applying U.S. GAAP to transactions affected by reference rate reform if certain criteria are met. 3/12/2020 Topic 848 was effective for the Company beginning on March 12, 2020, and we will apply the amendments prospectively through December 31, 2022. There was no impact to our condensed consolidation financial statements for the quarter ended March 31, 2020 as a result of adopting this standard update. The cumulative after-tax effect of the changes made to our condensed consolidated balance sheet for the adoption of Topic 326 were as follows: (dollars in millions) At December 31, 2019 Adjustments due to Topic 326 At January 1, 2020 Allowance for credit losses $ — $ 919 $ 919 Allowance for doubtful accounts 733 (733 ) — Other assets 10,141 (79 ) 10,062 Deferred income taxes 34,703 (65 ) 34,638 Retained earnings 53,147 (200 ) 52,947 See Note 6 for additional information related to credit losses, including disclosures required under Topic 326.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	Cash, cash equivalents and restricted cash are included in the following line items in the condensed consolidated balance sheets: At March 31, At December 31, Increase / (Decrease) (dollars in millions) 2020 2019 Cash and cash equivalents $ 7,047 $ 2,594 $ 4,453 Restricted cash: Prepaid expenses and other 1,154 1,221 (67 ) Other assets 123 102 21 Cash, cash equivalents and restricted cash $ 8,324 $ 3,917 $ 4,407
Schedule of Restricted Cash	Cash, cash equivalents and restricted cash are included in the following line items in the condensed consolidated balance sheets: At March 31, At December 31, Increase / (Decrease) (dollars in millions) 2020 2019 Cash and cash equivalents $ 7,047 $ 2,594 $ 4,453 Restricted cash: Prepaid expenses and other 1,154 1,221 (67 ) Other assets 123 102 21 Cash, cash equivalents and restricted cash $ 8,324 $ 3,917 $ 4,407
Schedule of New Accounting Pronouncements	The following Accounting Standard Updates (ASUs) were issued by the Financial Accounting Standards Board (FASB), and have been recently adopted by Verizon. Description Date of Adoption Effect on Financial Statements ASU 2016-13, ASU 2018-19, ASU 2019-04, and ASU 2019-05, Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued Topic 326 which requires certain financial assets to 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 applies 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 adopted Topic 326 beginning on January 1, 2020 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 recognized and measured estimated credit losses without revising comparative period information or disclosures. We recorded the pre-tax cumulative effect of $265 million ($200 million net of tax) as a reduction to the January 1, 2020 opening balance of retained earnings, which was related to the timing of expected credit loss recognition for certain device payment plan receivables based upon reasonable and supportable forecasts of the future economic condition as of January 1, 2020. Additionally, the adoption of the standard impacted the condensed consolidated balance sheet by presenting financial assets measured at amortized cost separate from the allowance for estimated credit losses. There is no significant impact to our operating results for the current period due to this standard update. ASU 2020-04, Reference Rate Reform (Topic 848) Topic 848 provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. Topic 848 provides optional expedients and exceptions for applying U.S. GAAP to transactions affected by reference rate reform if certain criteria are met. 3/12/2020 Topic 848 was effective for the Company beginning on March 12, 2020, and we will apply the amendments prospectively through December 31, 2022. There was no impact to our condensed consolidation financial statements for the quarter ended March 31, 2020 as a result of adopting this standard update. The cumulative after-tax effect of the changes made to our condensed consolidated balance sheet for the adoption of Topic 326 were as follows: (dollars in millions) At December 31, 2019 Adjustments due to Topic 326 At January 1, 2020 Allowance for credit losses $ — $ 919 $ 919 Allowance for doubtful accounts 733 (733 ) — Other assets 10,141 (79 ) 10,062 Deferred income taxes 34,703 (65 ) 34,638 Retained earnings 53,147 (200 ) 52,947

Revenues and Contract Costs (Ta

Revenues and Contract Costs (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Receivables from Contracts with Customers	The following table presents information about receivables from contracts with customers: At March 31, At January 1, At March 31, At January 1, (dollars in millions) 2020 2020 2019 2019 Receivables (1) $ 11,273 $ 12,078 $ 11,601 $ 12,104 Device payment plan agreement receivables (2) 10,955 11,741 9,687 8,940 (1) Balances do not include receivables related to the following contracts: leasing arrangements (such as towers), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed on 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 6
Contract with Customer, Asset and Liability	The following table presents information about contract balances: At March 31, At January 1, At March 31, At January 1, (dollars in millions) 2020 2020 2019 2019 Contract asset $ 1,135 $ 1,150 $ 1,021 $ 1,003 Contract liability (1) 5,347 5,307 4,973 4,943 (1) Revenue recognized related to contract liabilities existing at January 1, 2020 and January 1, 2019 were $ 3.8 billion and $3.7 billion , for the three months ended March 31, 2020 and March 31, 2019 , respectively. The balance of contract assets and contract liabilities recorded in our condensed consolidated balance sheets were as follows: At March 31, At December 31, (dollars in millions) 2020 2019 Assets Prepaid expenses and other $ 844 $ 848 Other assets 291 302 Total $ 1,135 $ 1,150 Liabilities Other current liabilities $ 4,675 $ 4,651 Other liabilities 672 656 Total $ 5,347 $ 5,307
Capitalized Contract Cost	The balances of deferred contract costs included in our condensed consolidated balance sheets were as follows: At March 31, At December 31, (dollars in millions) 2020 2019 Assets Prepaid expenses and other $ 2,523 $ 2,578 Other assets 1,835 1,911 Total $ 4,358 $ 4,489

Wireless Licenses, Goodwill a_2

Wireless Licenses, Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying Amount of Wireless Licenses	The carrying amounts of Wireless licenses are as follows: At March 31, At December 31, (dollars in millions) 2020 2019 Wireless licenses $ 92,471 $ 95,059
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Consumer Business Other Total Balance at January 1, 2020 (1) $ 17,104 $ 7,269 $ 16 $ 24,389 Reclassifications, adjustments and other — (7 ) — (7 ) Balance at March 31, 2020 (1) $ 17,104 $ 7,262 $ 16 $ 24,382 (1) Goodwill is net of accumulated impairment charges of $4.8 billion , 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: At March 31, 2020 At December 31, 2019 (dollars in millions) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Customer lists (8 to 13 years) $ 3,894 $ (1,624 ) $ 2,270 $ 3,896 $ (1,511 ) $ 2,385 Non-network internal-use software (3 to 7 years) 20,971 (14,842 ) 6,129 20,530 (14,418 ) 6,112 Other (2 to 25 years) 1,969 (997 ) 972 1,967 (966 ) 1,001 Total $ 26,834 $ (17,463 ) $ 9,371 $ 26,393 $ (16,895 ) $ 9,498
Amortization Expense for Other Intangible Assets	The amortization expense for Other intangible assets was as follows: Three Months Ended (dollars in millions) March 31, 2020 $ 592 2019 555
Estimated Future Amortization Expense for Other Intangible Assets	The estimated future amortization expense for Other intangible assets for the remainder of the current year and next 5 years is as follows: Years (dollars in millions) Remainder of 2020 $ 1,714 2021 2,004 2022 1,715 2023 1,368 2024 1,017 2025 660

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt Transactions	During the three months ended March 31, 2020 , we completed the following ABS Notes transactions: (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued A-1a Senior class notes 1.850 2.46 $ 1,326 A-1b Senior floating rate class notes LIBOR + 0.270 (1) 2.46 100 B Junior class notes 1.980 3.18 98 C Junior class notes 2.060 3.36 76 Total $ 1,600 (1) The one-month London Interbank Offered Rate (LIBOR) at March 31, 2020 was 0.993 %. The following table shows the transactions that occurred during the three months ended March 31, 2020 . Redemptions, Repurchases and Repayments (dollars in millions) Principal Redeemed/ Repurchased/ Repaid Amount Paid as % of Principal (1) Verizon 4.950% notes due 2047 $ 1,475 100.000 % (1) Percentage represents price paid to redeem, repurchase and repay. In April 2020, we redeemed, in whole, on the maturity date thereof, subsidiary preferred stock for approximately $1.7 billion , plus accrued and unpaid dividends. Issuances (amounts in millions) Principal Amount Issued Net Proceeds (1) Verizon 3.600% notes due 2060 $ 2,385 $ 2,369 Verizon 3.000% notes due 2027 750 747 Verizon 3.150% notes due 2030 1,500 1,489 Verizon 4.000% notes due 2050 1,250 1,241 Total $ 5,885 $ 5,846 (1) Net proceeds were net of discount and issuance costs.
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 condensed consolidated balance sheets were as follows: At March 31, At December 31, (dollars in millions) 2020 2019 Assets Account receivable, net $ 10,444 $ 10,525 Prepaid expenses and other 1,108 1,180 Other assets 3,720 3,856 Liabilities Accounts payable and accrued liabilities 11 11 Short-term portion of long-term debt 5,804 5,578 Long-term debt 7,185 6,791
Schedule of Line of Credit Facilities	At March 31, 2020 (dollars in millions) Maturities Facility Capacity Unused Capacity Principal Amount Outstanding Verizon revolving credit facility (1) 2022 $ 9,500 $ 9,391 N/A Various export credit facilities (2) 2022-2027 5,500 — 4,382 Total $ 15,000 $ 9,391 $ 4,382 (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) These credit facilities were used to finance equipment-related purchases. Borrowings under certain of these facilities amortize semi-annually in equal installments up to the applicable maturity dates.

Device Payment Plan and Wireles

Device Payment Plan and Wireless Service Receivables (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Schedule of Receivables, Net	The following table presents information about accounts receivable, net of allowances, recorded in our condensed consolidated balance sheet: At March 31, 2020 (dollars in millions) Device payment plan agreement Wireless service Other receivables (1) Total Accounts receivable (2) $ 12,824 $ 5,244 $ 6,784 $ 24,852 Less: Allowance for credit losses 606 228 221 1,055 Accounts receivable, net of allowance $ 12,218 $ 5,016 $ 6,563 $ 23,797 (1) Other receivables primarily include wireline receivables, Verizon Media receivables and other receivables, the allowances for which are individually insignificant (2) Following the adoption of Topic 326 on January 1, 2020, accounts receivable are measured at amortized cost The following table displays device payment plan agreement receivables, net, recognized in our condensed consolidated balance sheets: At March 31, At December 31, (dollars in millions) 2020 2019 (1) Device payment plan agreement receivables, gross $ 18,320 $ 19,493 Unamortized imputed interest (425 ) (454 ) Device payment plan agreement receivables, at amortized cost 17,895 19,039 Allowance (2) (830 ) (472 ) Device payment plan agreement receivables, net $ 17,065 $ 18,567 Classified in our condensed consolidated balance sheets: Accounts receivable, net $ 12,218 $ 13,045 Other assets 4,847 5,522 Device payment plan agreement receivables, net $ 17,065 $ 18,567 (1) Balances reflected are prior to the adoption of Topic 326 on January 1, 2020 (2) Includes allowance for both short-term and long-term device payment plan agreement receivables. The allowance as of March 31, 2020 and December 31, 2019 relate to our provision for credit losses and doubtful accounts, respectively.
Financing Receivable Credit Quality Indicators [Table Text Block]	The following table presents device payment plan agreement receivables, at amortized cost, as of March 31, 2020 , by credit quality indicator and year of origination: Year of Origination (dollars in millions) 2020 2019 2018 Prior to 2018 Total New customers $ 560 $ 1,930 $ 348 $ 44 $ 2,882 Existing customers 2,720 9,858 2,404 31 15,013 Total $ 3,280 $ 11,788 $ 2,752 $ 75 $ 17,895 The data presented in the table above was last updated on March 31, 2020 .
Activity in Allowance for Credit Losses for Device Payment Plan Agreement Receivables	Activity in the allowance for credit losses by portfolio segment of receivables were as follows: (dollars in millions) Device Payment Plan Agreement Receivables (1) Wireless Service Plan Receivables Balance at January 1, 2020 $ 472 $ 156 Opening balance sheet adjustment related to Topic 326 adoption 265 — Adjusted opening balance, January 1, 2020 737 156 Current period provision for expected credit losses 312 170 Write-offs charged against the allowance (229 ) (113 ) Recoveries collected 10 15 Balance at March 31, 2020 $ 830 $ 228 (1) Includes allowance for both short-term and long-term device payment plan agreement receivables
Balance and Aging of Device Payment Plan Agreement Receivables on Gross Basis	The balance and aging of the device payment plan agreement receivables, at amortized cost, were as follows: At March 31, (dollars in millions) 2020 Unbilled $ 16,636 Billed: Current 965 Past due 294 Device payment plan agreement receivables, at amortized cost $ 17,895

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 : (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Fixed income securities $ — $ 444 $ — $ 444 Interest rate swaps — 1,874 — 1,874 Foreign exchange forwards — 31 — 31 Total $ — $ 2,349 $ — $ 2,349 Liabilities: Other liabilities: Interest rate swaps $ — $ 344 $ — $ 344 Cross currency swaps — 3,651 — 3,651 Forward starting interest rate swaps — 1,151 — 1,151 Total $ — $ 5,146 $ — $ 5,146 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 (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: Fair Value (dollars in millions) Carrying Amount Level 1 Level 2 Level 3 Total At December 31, 2019 $ 110,373 $ 86,712 $ 42,488 $ — $ 129,200 At March 31, 2020 116,557 91,754 44,794 — 136,548
Notional Amounts of Outstanding Derivative Instruments	The following table sets forth the notional amounts of our outstanding derivative instruments: At March 31, At December 31, (dollars in millions) 2020 2019 Interest rate swaps $ 17,909 $ 17,004 Cross currency swaps 23,070 23,070 Forward starting interest rate swaps 2,000 3,000 Interest rate caps 409 679 Foreign exchange forwards 955 1,130
Schedule of Cumulative Basis Adjustments for Fair Value hedges	The following amounts were recorded in Long-term debt in our condensed consolidated balance sheets related to cumulative basis adjustments for fair value hedges: At March 31, At December 31, (dollars in millions) 2020 2019 Carrying amount of hedged liabilities $ 19,296 $ 17,337 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities 1,491 433

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
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 Three Months Ended March 31, 2020 2019 2020 2019 Service cost - Cost of services $ 59 $ 50 $ 22 $ 20 Service cost - Selling, general and administrative expense 14 11 5 4 Service cost $ 73 $ 61 $ 27 $ 24 Amortization of prior service cost (credit) $ 15 $ 15 $ (241 ) $ (243 ) Expected return on plan assets (297 ) (282 ) (7 ) (9 ) Interest cost 140 178 107 157 Remeasurement loss (gain), net 182 (96 ) — — Other components $ 40 $ (185 ) $ (141 ) $ (95 ) Total $ 113 $ (124 ) $ (114 ) $ (71 )

Equity and Accumulated Other _2

Equity and Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Schedule of Changes in Components of Total Equity	Changes in the components of Total equity were as follows: (dollars in millions, except per share amounts, and shares in thousands) Three months ended March 31, 2020 2019 Shares Amount Shares Amount Common Stock Balance at beginning of year 4,291,434 $ 429 4,291,434 $ 429 Balance at end of period 4,291,434 429 4,291,434 429 Additional Paid In Capital Balance at beginning of year 13,419 13,437 Other (117 ) (19 ) Balance at end of period 13,302 13,418 Retained Earnings Balance at beginning of year 53,147 43,542 Opening balance sheet adjustment (200 ) (1) 410 (2) Adjusted opening balance 52,947 43,952 Net income attributable to Verizon 4,156 5,032 Dividends declared ($0.6150, $0.6025 per share) (2,546 ) (2,491 ) Balance at end of period 54,557 46,493 Accumulated Other Comprehensive Income (Loss) Balance at beginning of year attributable to Verizon 998 2,370 Foreign currency translation adjustments (120 ) 24 Unrealized loss on cash flow hedges (2,210 ) (13 ) Unrealized gain (loss) on marketable securities (1 ) 4 Defined benefit pension and postretirement plans (169 ) (169 ) Other comprehensive loss (2,500 ) (154 ) Balance at end of period attributable to Verizon (1,502 ) 2,216 Treasury Stock Balance at beginning of year (155,606 ) (6,820 ) (159,400 ) (6,986 ) Employee plans 2,164 95 3,668 161 Shareholder plans 4 — 5 — Balance at end of period (153,438 ) (6,725 ) (155,727 ) (6,825 ) Deferred Compensation-ESOPs and Other Balance at beginning of year 222 353 Restricted stock equity grant 15 35 Amortization (88 ) (263 ) Balance at end of period 149 125 Noncontrolling Interests Balance at beginning of year 1,440 1,565 Opening balance sheet adjustment — 1 (2) Adjusted opening balance 1,440 1,566 Total comprehensive income 131 128 Distributions and other (128 ) (90 ) Balance at end of period 1,443 1,604 Total Equity $ 61,653 $ 57,460 (1) The opening balance sheet adjustment for the three months ended March 31, 2020 is due to the adoption of Topic 326 on January 1, 2020. See Note 1 for additional information. (2) Opening balance sheet adjustments for the three months ended March 31, 2019 are due to the adoption of Topic 842 on January 1, 2019. Refer to the consolidated financial statements included in Verizon's Annual Report on Form 10-K for the year ended December 31, 2019 for additional information.
Schedule of Components in Accumulated Other Comprehensive Income	The changes in the balances of Accumulated other comprehensive income (loss) by component were as follows: (dollars in millions) Foreign currency translation adjustments Unrealized gain (loss) on cash flow hedges Unrealized gain (loss) on marketable securities Defined benefit pension and postretirement plans Total Balance at January 1, 2020 $ (584 ) $ (816 ) $ 27 $ 2,371 $ 998 Other comprehensive loss (120 ) (2,814 ) (1 ) — (2,935 ) Amounts reclassified to net income — 604 — (169 ) 435 Net other comprehensive loss (120 ) (2,210 ) (1 ) (169 ) (2,500 ) Balance at March 31, 2020 $ (704 ) $ (3,026 ) $ 26 $ 2,202 $ (1,502 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Operating Information	The following table provides operating financial information for our two reportable segments: Three Months Ended March 31, (dollars in millions) 2020 2019 External Operating Revenues Consumer Service $ 16,343 $ 16,261 Wireless equipment 3,377 4,166 Other 1,986 1,671 Total Consumer 21,706 22,098 Business Global Enterprise 2,630 2,690 Small and Medium Business 2,798 2,704 Public Sector and Other 1,474 1,471 Wholesale 760 841 Total Business 7,662 7,706 Total reportable segments $ 29,368 $ 29,804 Intersegment Revenues Consumer $ 59 $ 50 Business 19 13 Total reportable segments $ 78 $ 63 Total Operating Revenues Consumer $ 21,765 $ 22,148 Business (1) 7,681 7,719 Total reportable segments $ 29,446 $ 29,867 Operating Income Consumer $ 7,282 $ 7,250 Business 954 1,048 Total reportable segments $ 8,236 $ 8,298 (1) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $6.9 billion and $752 million , respectively, for the three months ended March 31, 2020 , and approximately $6.9 billion and $765 million , respectively, for the three months ended March 31, 2019 . The following table provides Fios revenue for our two reportable segments: Three Months Ended March 31, (dollars in millions) 2020 2019 Consumer $ 2,799 $ 2,764 Business 262 243 Total Fios revenue $ 3,061 $ 3,007 The following table provides Wireless service revenue for our reportable segments and includes intersegment activity: Three Months Ended March 31, (dollars in millions) 2020 2019 Consumer $ 13,476 $ 13,357 Business 2,881 2,694 Total Wireless service revenue $ 16,357 $ 16,051 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 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. Verizon 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: Three Months Ended March 31, (dollars in millions) 2020 2019 Total reportable segment operating revenues $ 29,446 $ 29,867 Corporate and other 2,272 2,335 Eliminations (108 ) (74 ) Total consolidated operating revenues $ 31,610 $ 32,128
Summary of Reconciliation of Segment Operating Income	A reconciliation of the total reportable segment's operating income to consolidated income before provision for income taxes is as follows: Three Months Ended March 31, (dollars in millions) 2020 2019 Total reportable segment operating income $ 8,236 $ 8,298 Corporate and other (259 ) (386 ) Other components of net periodic benefit charges (Note 8) (203 ) (203 ) Loss on spectrum license transaction (Note 3) (1,195 ) — Total consolidated operating income 6,579 7,709 Equity in losses of unconsolidated businesses (12 ) (6 ) Other income, net 143 295 Interest expense (1,034 ) (1,210 ) Income Before Provision For Income Taxes $ 5,676 $ 6,788

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020segmentshares	Mar. 31, 2019shares	Jan. 01, 2020USD ($)	Jan. 01, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments | segment	2
Restricted stock units outstanding to purchase shares included in diluted earnings per common share (in shares) | shares	2	2
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of applying new accounting standards			$ 200	$ (410)
Retained Earnings | Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of applying new accounting standards, pre-tax			265
Cumulative effect of applying new accounting standards			$ 200
Consumer
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Maximum threshold period for new customers	210 days
Minimum threshold period for existing customers	210 days
Business
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Maximum threshold period for new customers	12 months
Minimum threshold period for existing customers	12 months

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 7,047		$ 2,594
Increase (decrease) of cash and cash equivalents	4,453
Cash, cash equivalents and restricted cash	8,324	$ 3,537	3,917	$ 3,916
Increase (decrease) in cash, cash equivalents and restricted cash	4,407	$ (379)
Prepaid expenses and other
Cash and Cash Equivalents [Line Items]
Restricted cash	1,154		1,221
Increase (decrease) in restricted cash	(67)
Other assets
Cash and Cash Equivalents [Line Items]
Restricted cash	123		$ 102
Increase (decrease) in restricted cash	$ 21

Basis of Presentation - Sched_2

Basis of Presentation - Schedule of Cumulative Effect for Adoption of New Accounting Pronouncement (Details) - USD ($) $ in Millions	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 1,055		$ 0
Allowance for doubtful accounts	0		733
Other assets	12,379		10,141
Deferred income taxes	33,709		34,703
Retained earnings	$ 54,557		$ 53,147
Adjustments due to Topic 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses		$ 919
Allowance for doubtful accounts		(733)
Other assets		(79)
Deferred income taxes		(65)
Retained earnings		(200)
Cumulative Effect, Period Of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses		919
Allowance for doubtful accounts		0
Other assets		10,062
Deferred income taxes		34,638
Retained earnings		$ 52,947

Revenues and Contract Costs - A

Revenues and Contract Costs - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments | segment	2
Revenues from leasing arrangements, captive reinsurance arrangements and interest on equipment financed	$ 812,000,000	$ 787,000,000
Contract 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).
Amortization of deferred contract costs	$ 778,000,000	615,000,000
Contract assets impairment charge	0	0
Media Business
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 1,700,000,000	$ 1,800,000,000
Wireless postpaid contracts
Disaggregation of Revenue [Line Items]
Percentage of month-to-month contracts of total service contracts	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	64.00%	55.00%
Reseller Arrangements
Disaggregation of Revenue [Line Items]
Contract 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]
Customer contracts service term	2 years
Business
Disaggregation of Revenue [Line Items]
Contract description of timing	These contracts have varying terms spanning over approximately five years
Maximum | Business
Disaggregation of Revenue [Line Items]
Customer contracts service term	12 months

Revenues and Contract Costs - R

Revenues and Contract Costs - Revenue Performance Obligations (Details) $ in Billions	Mar. 31, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 16.1
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
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	$ 11.3
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	$ 2
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]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 3.2
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	Mar. 31, 2020	Jan. 01, 2020	Mar. 31, 2019	Jan. 01, 2019
Revenue from Contract with Customer [Abstract]
Receivables	$ 11,273	$ 12,078	$ 11,601	$ 12,104
Device payment plan agreement receivables	$ 10,955	$ 11,741	$ 9,687	$ 8,940

Revenues and Contract Costs - C

Revenues and Contract Costs - Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jan. 01, 2020	Dec. 31, 2019	Jan. 01, 2019
Disaggregation of Revenue [Line Items]
Contract asset	$ 1,135	$ 1,021	$ 1,150	$ 1,150	$ 1,003
Contract liability	5,347	4,973	$ 5,307	5,307	$ 4,943
Revenue recognized related to contract liabilities existing	3,800	$ 3,700
Prepaid expenses and other
Disaggregation of Revenue [Line Items]
Contract asset	844			848
Other assets
Disaggregation of Revenue [Line Items]
Contract asset	291			302
Other current liabilities
Disaggregation of Revenue [Line Items]
Contract liability	4,675			4,651
Other liabilities
Disaggregation of Revenue [Line Items]
Contract liability	$ 672			$ 656

Revenues and Contract Costs -_2

Revenues and Contract Costs - Schedule of Cost Incurred to Obtain or Fulfill Contracts with Customers (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Capitalized Contract Cost [Line Items]
Cost incurred to obtain or fulfill contracts with customers	$ 4,358	$ 4,489
Minimum
Capitalized Contract Cost [Line Items]
Deferred contract cost, amortization period	2 years
Maximum
Capitalized Contract Cost [Line Items]
Deferred contract cost, amortization period	5 years
Prepaid expenses and other
Capitalized Contract Cost [Line Items]
Cost incurred to obtain or fulfill contracts with customers	$ 2,523	2,578
Other assets
Capitalized Contract Cost [Line Items]
Cost incurred to obtain or fulfill contracts with customers	$ 1,835	$ 1,911

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) $ in Millions	1 Months Ended			3 Months Ended		4 Months Ended
	Apr. 27, 2020USD ($)	Mar. 31, 2020USD ($)License	Dec. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)
Business Acquisition [Line Items]
Number of licenses acquired | License		4,940
Payments for deposits				$ 210	$ 104
Gain (loss) on disposition of licenses, pre-tax				(1,195)	$ 0
Spectrum licenses
Business Acquisition [Line Items]
Payments for deposits			$ 101			$ 325
Spectrum licenses | Subsequent Event
Business Acquisition [Line Items]
Payments for deposits	$ 1,300
Spectrum licenses
Business Acquisition [Line Items]
Price payable for acquisitions		$ 3,400
Portion of price to be settled with 39 GHz licenses		1,800
Series of Individually Immaterial Business Acquisitions | Spectrum licenses
Business Acquisition [Line Items]
Payments for deposits				146
Disposal Group, Held-for-sale, Not Discontinued Operations | Spectrum licenses
Business Acquisition [Line Items]
Intangible assets held-for-sale		$ 1,600		$ 1,600		$ 1,600

Wireless Licenses, Goodwill a_3

Wireless Licenses, Goodwill and Other Intangible Assets - Carrying Amount of Wireless Licenses (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Wireless licenses	$ 92,471	$ 95,059

Wireless Licenses, Goodwill a_4

Wireless Licenses, Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Gain (loss) on disposition of licenses, pre-tax	$ (1,195)	$ 0
Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Wireless licenses under development	3,500	7,200
Interest costs capitalized	64	$ 88
Assets held-for-sale	$ 2,800
Average remaining renewal period of wireless license portfolio (in years)	4 years 6 months
Spectrum Licenses, 39 GHz
Indefinite-lived Intangible Assets [Line Items]
Gain (loss) on disposition of licenses, pre-tax	$ (1,200)
Gain (loss) on disposition of licenses	(914)
Disposal Group, Held-for-sale, Not Discontinued Operations | Spectrum licenses
Indefinite-lived Intangible Assets [Line Items]
Intangible assets held-for-sale	$ 1,600

Wireless Licenses, Goodwill a_5

Wireless Licenses, Goodwill and Other Intangible Assets - Changes in Carrying Value of Goodwill (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Beginning balance	$ 24,389
Reclassifications, adjustments and other	(7)
Ending balance	24,382
Goodwill accumulated impairment charge	4,800	$ 4,800
Operating Segments | Consumer
Goodwill [Line Items]
Beginning balance	17,104
Reclassifications, adjustments and other	0
Ending balance	17,104
Operating Segments | Business
Goodwill [Line Items]
Beginning balance	7,269
Reclassifications, adjustments and other	(7)
Ending balance	7,262
Other
Goodwill [Line Items]
Beginning balance	16
Reclassifications, adjustments and other	0
Ending balance	$ 16

Wireless Licenses, Goodwill a_6

Wireless Licenses, Goodwill and Other Intangible Assets - Composition of Other Intangible Assets, Net (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 26,834	$ 26,393
Accumulated Amortization	(17,463)	(16,895)
Net Amount	9,371	9,498
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Gross Amount	3,894	3,896
Accumulated Amortization	(1,624)	(1,511)
Net Amount	$ 2,270	2,385
Customer Lists | Minimum
Finite-Lived Intangible Assets [Line Items]
Other intangible asset, useful life	8 years
Customer Lists | Maximum
Finite-Lived Intangible Assets [Line Items]
Other intangible asset, useful life	13 years
Non-Network Internal-Use Software
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 20,971	20,530
Accumulated Amortization	(14,842)	(14,418)
Net Amount	$ 6,129	6,112
Non-Network Internal-Use Software | Minimum
Finite-Lived Intangible Assets [Line Items]
Other intangible asset, useful life	3 years
Non-Network Internal-Use Software | Maximum
Finite-Lived Intangible Assets [Line Items]
Other intangible asset, useful life	7 years
Other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 1,969	1,967
Accumulated Amortization	(997)	(966)
Net Amount	$ 972	$ 1,001
Other | Minimum
Finite-Lived Intangible Assets [Line Items]
Other intangible asset, useful life	2 years
Other | Maximum
Finite-Lived Intangible Assets [Line Items]
Other intangible asset, useful life	25 years

Wireless Licenses, Goodwill a_7

Wireless Licenses, Goodwill and Other Intangible Assets - Estimated Future Amortization Expense (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for other intangible assets	$ 592	$ 555
Remainder of 2020	1,714
2021	2,004
2022	1,715
2023	1,368
2024	1,017
2025	$ 660

Debt - Debt Redemptions, Repurc

Debt - Debt Redemptions, Repurchases and Repayments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Apr. 27, 2020
Verizon 4.950% notes due 2047
Debt Instrument [Line Items]
Principal Redeemed/ Repurchased/ Repaid	$ 1,475
Amount Paid as % of Principal	100.00%
Stated interest rate on debt instrument	4.95%
Subsequent Event | Subsidiary Preferred Stock
Debt Instrument [Line Items]
Principal Redeemed/ Repurchased/ Repaid		$ 1,700

Debt - Debt Issuances (Details)

Debt - Debt Issuances (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Principal Amount Issued	$ 5,885,000,000
Proceeds from long-term borrowings	5,846,000,000
Verizon 3.600% notes due 2060
Debt Instrument [Line Items]
Principal Amount Issued	2,385,000,000
Proceeds from long-term borrowings	$ 2,369,000,000
Stated interest rate on debt instrument	3.60%
Verizon 3.000% notes due 2027
Debt Instrument [Line Items]
Principal Amount Issued	$ 750,000,000
Proceeds from long-term borrowings	$ 747,000,000
Stated interest rate on debt instrument	3.00%
Verizon 3.150% notes due 2030
Debt Instrument [Line Items]
Principal Amount Issued	$ 1,500,000,000
Proceeds from long-term borrowings	$ 1,489,000,000
Stated interest rate on debt instrument	3.15%
Verizon 4.000% notes due 2050
Debt Instrument [Line Items]
Principal Amount Issued	$ 1,250,000,000
Proceeds from long-term borrowings	$ 1,241,000,000
Stated interest rate on debt instrument	4.00%

Debt - Short-Term Borrowings an

Debt - Short-Term Borrowings and Commercial Paper Program (Details) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 27, 2020	Mar. 31, 2020
Short-term Debt [Line Items]
Principal amount outstanding		$ 4,382,000,000
Facility Capacity		15,000,000,000
Commercial paper		0
Short Term Facility
Short-term Debt [Line Items]
Proceeds from short-term debt		700,000,000
Principal amount outstanding		700,000,000
Facility Capacity		$ 700,000,000
Subsequent Event
Short-term Debt [Line Items]
Commercial paper	$ 3,500,000,000
Subsequent Event | Short Term Facility
Short-term Debt [Line Items]
Repayments of Short-term Debt	700,000,000
Commercial Paper | Subsequent Event
Short-term Debt [Line Items]
Proceeds from short-term debt	3,500,000,000
Commercial Paper Maturing June 30, 2020 | Subsequent Event
Short-term Debt [Line Items]
Commercial paper	2,500,000,000
Commercial Paper Maturing September 30, 2020 | Subsequent Event
Short-term Debt [Line Items]
Commercial paper	$ 1,000,000,000

Debt - Asset-Backed Debt Narrat

Debt - Asset-Backed Debt Narrative (Detail) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2020	Jan. 31, 2020	Mar. 31, 2020
Asset-Backed Debt
Debt Instrument [Line Items]
Secured debt, carrying value	$ 13,000		$ 13,000
Asset Backed Notes
Debt Instrument [Line Items]
Revolving period			2 years
2019 ABS Financing Facility
Debt Instrument [Line Items]
Repayments of debt		$ 1,300
Revolving period			1 year
Amount drawn from credit facilities	1,300
Debt outstanding	$ 3,300		$ 3,300
Secured Debt | Asset Backed Notes
Debt Instrument [Line Items]
Repayments of debt			$ 979

Debt - Schedule of ABS Notes Tr

Debt - Schedule of ABS Notes Transactions (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Principal Amount Issued	$ 5,885,000,000
Asset Backed Notes
Debt Instrument [Line Items]
Principal Amount Issued	$ 1,600,000,000
Asset Backed Notes | A-1a Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	1.85%
Expected Weighted-average Life to Maturity	2 years 5 months 15 days
Principal Amount Issued	$ 1,326,000,000
Asset Backed Notes | A-1b Senior floating rate class notes
Debt Instrument [Line Items]
Expected Weighted-average Life to Maturity	2 years 5 months 15 days
Principal Amount Issued	$ 100,000,000
Debt effective rate	99.30%
Asset Backed Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	1.98%
Expected Weighted-average Life to Maturity	3 years 2 months 4 days
Principal Amount Issued	$ 98,000,000
Asset Backed Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.06%
Expected Weighted-average Life to Maturity	3 years 4 months 9 days
Principal Amount Issued	$ 76,000,000
Asset Backed Notes | London Interbank Offered Rate (LIBOR) | A-1b Senior floating rate class notes
Debt Instrument [Line Items]
Basis spread on variable rate	0.27%

Debt - Assets and Liabilities R

Debt - Assets and Liabilities Related to Asset-backed Debt Arrangements (Detail) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Account receivable, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	$ 10,444	$ 10,525
Prepaid expenses and other
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	1,108	1,180
Other assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	3,720	3,856
Accounts payable and accrued liabilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	11	11
Short-term portion of long-term debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	5,804	5,578
Long-term debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	$ 7,185	$ 6,791

Debt - Credit Facilities, Non-C

Debt - Credit Facilities, Non-Cash Transaction, Early Debt Redemptions, Guarantees (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt Instrument [Line Items]
Facility Capacity	$ 15,000,000,000
Unused Capacity	9,391,000,000
Principal Amount Outstanding	4,382,000,000
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	502,000,000	$ 115,000,000
Long-term debt maturing within one year	1,500,000,000	$ 1,000,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Facility Capacity	9,500,000,000
Unused Capacity	9,391,000,000
Equipment Credit Facilities
Debt Instrument [Line Items]
Facility Capacity	5,500,000,000
Unused Capacity	0
Principal Amount Outstanding	$ 4,382,000,000

Device Payment Plan Agreement_2

Device Payment Plan Agreement and Wireless Service Receivables - Schedule of Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 24,852	$ 26,162
Allowance for credit losses	1,055	0
Accounts receivable, net of allowance	23,797	$ 25,429
Device Payment Plan Agreement Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	12,824
Allowance for credit losses	606
Accounts receivable, net of allowance	12,218
Wireless Service Plan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	5,244
Allowance for credit losses	228
Accounts receivable, net of allowance	5,016
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	6,784
Allowance for credit losses	221
Accounts receivable, net of allowance	$ 6,563

Device Payment Plan Agreement_3

Device Payment Plan Agreement and Wireless Service Receivables - Schedule of Device Payment Plan Agreement Receivables (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 18,320	$ 19,493
Unamortized imputed interest	(425)	(454)
Device payment plan agreement receivables, at amortized cost	17,895	19,039
Allowance (2)	(830)	(472)
Device payment plan agreement receivables, net	17,065	18,567
Account receivable, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, net	12,218	13,045
Other assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, net	$ 4,847	$ 5,522

Device Payment Plan Agreement_4

Device Payment Plan Agreement and Wireless Service Receivables - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Mar. 31, 2019	Jan. 01, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables transferred to ABS Entities	$ 14,100		$ 14,300
Device payment plan agreement, trade-in liability	$ 5,347	$ 5,307	5,307	$ 4,973	$ 4,943
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Required down payment percentage	0.00%
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Required down payment percentage	100.00%
Product Trade-in
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement, trade-in liability	$ 90		$ 103
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum threshold period for new customers	210 days
Minimum threshold period for existing customers	210 days
Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum threshold period for new customers	12 months
Minimum threshold period for existing customers	12 months
Device Payment Plan Agreement Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables originating in 2020	$ 3,280
Receivables originating in 2019	$ 11,788
Device Payment Plan Agreement Receivables | Consumer | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	45 days
Device Payment Plan Agreement Receivables | Consumer | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	45 days
Device Payment Plan Agreement Receivables | Business | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	12 months
Device Payment Plan Agreement Receivables | Business | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	12 months
Wireless Service Plan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables originating in 2020	$ 5,100
Receivables originating in 2019	$ 149
Number of days past due	34 days

Device Payment Plan Agreement_5

Device Payment Plan Agreement and Wireless Service Receivables - Schedule of Credit Quality Indicators (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Device payment plan agreement receivables, at amortized cost	$ 18,320	$ 19,493
Device Payment Plan Agreement Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
2020	3,280
2019	11,788
2018	2,752
Prior to 2018	75
Device payment plan agreement receivables, at amortized cost	17,895
Device Payment Plan Agreement Receivables | New customers
Financing Receivable, Credit Quality Indicator [Line Items]
2020	560
2019	1,930
2018	348
Prior to 2018	44
Device payment plan agreement receivables, at amortized cost	2,882
Device Payment Plan Agreement Receivables | Existing customers
Financing Receivable, Credit Quality Indicator [Line Items]
2020	2,720
2019	9,858
2018	2,404
Prior to 2018	31
Device payment plan agreement receivables, at amortized cost	$ 15,013

Device Payment Plan Agreement_6

Device Payment Plan Agreement and Wireless Service Receivables - Allowance for Credit Losses (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Jan. 01, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 472
Adjusted opening balance, January 1, 2020	472
Ending balance	830
Device Payment Plan Agreement Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	472
Adjusted opening balance, January 1, 2020	830	$ 737
Current period provision for expected credit losses	312
Write-offs charged against the allowance	(229)
Recoveries collected	10
Ending balance	830
Wireless Service Plan Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	156
Adjusted opening balance, January 1, 2020	228	156
Current period provision for expected credit losses	170
Write-offs charged against the allowance	(113)
Recoveries collected	15
Ending balance	$ 228
Accounting Standards Update 2016-13 | Device Payment Plan Agreement Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Opening balance sheet adjustment related to Topic 326 adoption		265
Accounting Standards Update 2016-13 | Wireless Service Plan Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Opening balance sheet adjustment related to Topic 326 adoption		$ 0

Device Payment Plan Agreement_7

Device Payment Plan Agreement and Wireless Service Receivables - Balance and Aging of Receivables (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, at amortized cost	$ 18,320	$ 19,493
Device Payment Plan Agreement Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, at amortized cost	17,895
Device Payment Plan Agreement Receivables | Unbilled
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, current	16,636
Device Payment Plan Agreement Receivables | Billed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, current	965
Device payment plan agreement receivables, past due	$ 294

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Assets:
Total	$ 2,349	$ 1,226
Other liabilities:
Total	5,146	1,689
Fixed income securities
Assets:
Debt securities, available-for-sale	444	442
Interest rate swaps
Assets:
Derivative asset	1,874	568
Other liabilities:
Derivative liabilities	344	173
Cross currency swaps
Assets:
Derivative asset		211
Other liabilities:
Derivative liabilities	3,651	912
Foreign exchange forwards
Assets:
Derivative asset	31	5
Forward starting interest rate swaps
Other liabilities:
Derivative liabilities	1,151	604
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
Other liabilities:
Derivative liabilities	0	0
Level 1 | Foreign exchange forwards
Assets:
Derivative asset	0	0
Level 1 | Forward starting interest rate swaps
Other liabilities:
Derivative liabilities	0	0
Level 2
Assets:
Total	2,349	1,226
Other liabilities:
Total	5,146	1,689
Level 2 | Fixed income securities
Assets:
Debt securities, available-for-sale	444	442
Level 2 | Interest rate swaps
Assets:
Derivative asset	1,874	568
Other liabilities:
Derivative liabilities	344	173
Level 2 | Cross currency swaps
Assets:
Derivative asset		211
Other liabilities:
Derivative liabilities	3,651	912
Level 2 | Foreign exchange forwards
Assets:
Derivative asset	31	5
Level 2 | Forward starting interest rate swaps
Other liabilities:
Derivative liabilities	1,151	604
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
Other liabilities:
Derivative liabilities	0	0
Level 3 | Foreign exchange forwards
Assets:
Derivative asset	0	0
Level 3 | Forward starting interest rate swaps
Other liabilities:
Derivative liabilities	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)
Derivatives, Fair Value [Line Items]
Carrying amount of our investments without readily determinable fair values	$ 266,000,000			$ 284,000,000
Investments without readily determinable fair values, impairment loss	0
Derivative asset fair value of collateral	(100,000,000)
Derivative liability fair value of collateral	1,300,000,000
Interest rate swaps
Derivatives, Fair Value [Line Items]
Net investment hedge	17,909,000,000			17,004,000,000
Interest rate swaps | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period	2,400,000,000	$ 510,000,000
Notional amount of derivative settled during period	1,500,000,000	1,200,000,000
Ineffectiveness portion of interest rate swaps	60,000,000
Cross currency swaps
Derivatives, Fair Value [Line Items]
Net investment hedge	23,070,000,000			23,070,000,000
Cross currency swaps | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Pre-tax gains (loss) recognized in other comprehensive income (loss)	(3,000,000,000)
Forward starting interest rate swaps
Derivatives, Fair Value [Line Items]
Net investment hedge	2,000,000,000			3,000,000,000
Forward starting interest rate swaps | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period		0
Notional amount of derivative settled during period	1,000,000,000	1,000,000,000
Pre-tax gains (loss) recognized in other comprehensive income (loss)	(840,000,000)	(203,000,000)
Treasury Lock
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period	1,600,000,000	0
Treasury Lock | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period	500,000,000	0
Euro Denominated Debt | Net Investment Hedges
Derivatives, Fair Value [Line Items]
Net investment hedge | €			€ 750,000,000		€ 750,000,000
Foreign exchange forwards
Derivatives, Fair Value [Line Items]
Notional amount of derivative instruments entered during period	2,700,000,000	3,000,000,000
Notional amount of derivative settled during period	2,800,000,000	$ 2,600,000,000
Net investment hedge	$ 955,000,000			$ 1,130,000,000

Fair Value Measurements - Debt

Fair Value Measurements - Debt Excluding Capital Leases (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	$ 116,557	$ 110,373
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	136,548	129,200
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	91,754	86,712
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	44,794	42,488
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	$ 0	$ 0

Fair Value Measurements - Notio

Fair Value Measurements - Notional Amounts of Outstanding Derivative Instruments (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Interest rate swaps
Derivative [Line Items]
Notional Amount	$ 17,909	$ 17,004
Cross currency swaps
Derivative [Line Items]
Notional Amount	23,070	23,070
Forward starting interest rate swaps
Derivative [Line Items]
Notional Amount	2,000	3,000
Interest rate caps
Derivative [Line Items]
Notional Amount	409	679
Foreign exchange forwards
Derivative [Line Items]
Notional Amount	$ 955	$ 1,130

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - Long-term debt - Fair Value Hedges - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Carrying amount of hedged liabilities	$ 19,296	$ 17,337
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities	$ 1,491	$ 433

Employee Benefits - Costs by Pl

Employee Benefits - Costs by Plans (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 73	$ 61
Amortization of prior service cost (credit)	15	15
Expected return on plan assets	(297)	(282)
Interest cost	140	178
Remeasurement loss (gain), net	182	(96)
Other components	40	(185)
Total	113	(124)
Pension | Cost of services
Defined Benefit Plan Disclosure [Line Items]
Service cost	59	50
Pension | Selling, general and administrative expense
Defined Benefit Plan Disclosure [Line Items]
Service cost	14	11
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	27	24
Amortization of prior service cost (credit)	(241)	(243)
Expected return on plan assets	(7)	(9)
Interest cost	107	157
Remeasurement loss (gain), net	0	0
Other components	(141)	(95)
Total	(114)	(71)
Health Care and Life | Cost of services
Defined Benefit Plan Disclosure [Line Items]
Service cost	22	20
Health Care and Life | Selling, general and administrative expense
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5	$ 4

Employee Benefits - Additional

Employee Benefits - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Amount paid in severance benefits over the period	$ 123
Post employment benefits liability	471
Pension
Defined Benefit Plan Disclosure [Line Items]
Severance Charges	(182)	$ 96
(Credit) charge due to change in discount rate assumption	(196)	54
(Charge) credit due to difference between estimated and actual return on assets		(150)
Pension | Qualified Plan
Defined Benefit Plan Disclosure [Line Items]
Employer discretionary contribution amount	$ 0	$ 300

Equity and Accumulated Other _3

Equity and Accumulated Other Comprehensive Income - Changes in Components of Total equity (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jan. 01, 2020	Jan. 01, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 62,835
Net income attributable to Verizon	4,156	$ 5,032
Foreign currency translation adjustments	(120)	24
Unrealized loss on cash flow hedges, net of tax of $792 and $5	(2,210)	(13)
Unrealized gain (loss) on marketable securities	(1)	4
Defined benefit pension and postretirement plans	(169)	(169)
Other comprehensive loss	$ (2,500)
Shareholder plans (in shares)	2,200
Total comprehensive income	$ 1,787	5,006
Ending Balance	$ 61,653	$ 57,460
Dividends declared per common share (USD per share)	$ 0.615	$ 0.6025
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 429	$ 429
Beginning balance (in shares)	4,291,434	4,291,434
Ending Balance (in shares)	4,291,434	4,291,434
Ending Balance	$ 429	$ 429
Additional Paid In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	13,419	13,437
Other	(117)	(19)
Ending Balance	13,302	13,418
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	53,147	43,542
Opening balance sheet adjustment			$ (200)	$ 410
Adjusted Beginning Balance			52,947	43,952
Net income attributable to Verizon	4,156	5,032
Dividends declared ($0.6150, $0.6025 per share)	(2,546)	(2,491)
Ending Balance	54,557	46,493
Accumulated Other Comprehensive Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	998	2,370
Foreign currency translation adjustments	(120)	24
Unrealized loss on cash flow hedges, net of tax of $792 and $5	(2,210)	(13)
Unrealized gain (loss) on marketable securities	(1)	4
Defined benefit pension and postretirement plans	(169)	(169)
Other comprehensive loss	(2,500)	(154)
Ending Balance	(1,502)	2,216
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ (6,820)	$ (6,986)
Beginning balance (in shares)	155,606	159,400
Employee plans (in shares)	2,164	3,668
Employee plans	$ 95	$ 161
Shareholder plans (in shares)	4	5
Shareholder plans	$ 0	$ 0
Ending Balance (in shares)	153,438	155,727
Ending Balance	$ (6,725)	$ (6,825)
Deferred Compensation-ESOPs and Other
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	222	353
Restricted stock equity grant	15	35
Amortization	(88)	(263)
Ending Balance	149	125
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	1,440	1,565
Opening balance sheet adjustment			0	1
Adjusted Beginning Balance			$ 1,440	$ 1,566
Total comprehensive income	131	128
Distributions and other	(128)	(90)
Ending Balance	$ 1,443	$ 1,604

Equity and Accumulated Other _4

Equity and Accumulated Other Comprehensive Income - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2020	Feb. 29, 2020
Stockholders' Equity Note [Abstract]
Stock repurchase program, number of shares authorized to be repurchased (in shares)		100,000,000
Stock repurchase program, remaining shares available for purchase (in shares)	100,000,000
Number of common shares issued from treasury stock (in shares)	2,200,000

Equity and Accumulated Other _5

Equity and Accumulated Other Comprehensive Income - Changes in AOCI (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning Balance	$ 62,835
Other comprehensive loss	(2,935)
Amounts reclassified to net income	435
Net other comprehensive loss	(2,500)
Ending Balance	61,653	$ 57,460
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning Balance	(584)
Other comprehensive loss	(120)
Amounts reclassified to net income	0
Net other comprehensive loss	(120)
Ending Balance	(704)
Unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning Balance	(816)
Other comprehensive loss	(2,814)
Amounts reclassified to net income	604
Net other comprehensive loss	(2,210)
Ending Balance	(3,026)
Unrealized gain (loss) on marketable securities
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning Balance	27
Other comprehensive loss	(1)
Amounts reclassified to net income	0
Net other comprehensive loss	(1)
Ending Balance	26
Defined benefit pension and postretirement plans
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning Balance	2,371
Other comprehensive loss	0
Amounts reclassified to net income	(169)
Net other comprehensive loss	(169)
Ending Balance	2,202
Accumulated Other Comprehensive Income
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning Balance	998	2,370
Net other comprehensive loss	(2,500)	(154)
Ending Balance	$ (1,502)	$ 2,216

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Operating

Segment Information - Operating Financial Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Operating revenues	$ 31,610	$ 32,128
Operating Income	6,579	7,709
Wireless equipment
Segment Reporting Information [Line Items]
Operating revenues	4,129	4,931
Service and Other
Segment Reporting Information [Line Items]
Operating revenues	27,481	27,197
Fios revenues
Segment Reporting Information [Line Items]
Operating revenues	3,061	3,007
Wireless service
Segment Reporting Information [Line Items]
Operating revenues	16,357	16,051
Consumer
Segment Reporting Information [Line Items]
Operating revenues	21,706	22,098
Consumer | Service
Segment Reporting Information [Line Items]
Operating revenues	16,343	16,261
Consumer | Wireless equipment
Segment Reporting Information [Line Items]
Operating revenues	3,377	4,166
Consumer | Other
Segment Reporting Information [Line Items]
Operating revenues	1,986	1,671
Consumer | Fios revenues
Segment Reporting Information [Line Items]
Operating revenues	2,799	2,764
Consumer | Wireless service
Segment Reporting Information [Line Items]
Operating revenues	13,476	13,357
Business
Segment Reporting Information [Line Items]
Operating revenues	7,662	7,706
Business | Wireless equipment
Segment Reporting Information [Line Items]
Operating revenues	752	765
Business | Global Enterprise
Segment Reporting Information [Line Items]
Operating revenues	2,630	2,690
Business | Small and Medium Business
Segment Reporting Information [Line Items]
Operating revenues	2,798	2,704
Business | Public Sector and Other
Segment Reporting Information [Line Items]
Operating revenues	1,474	1,471
Business | Wholesale
Segment Reporting Information [Line Items]
Operating revenues	760	841
Business | Service and Other
Segment Reporting Information [Line Items]
Operating revenues	6,900	6,900
Business | Fios revenues
Segment Reporting Information [Line Items]
Operating revenues	262	243
Business | Wireless service
Segment Reporting Information [Line Items]
Operating revenues	2,881	2,694
Total reportable segments
Segment Reporting Information [Line Items]
Operating revenues	29,368	29,804
Intersegment Eliminations
Segment Reporting Information [Line Items]
Operating revenues	78	63
Intersegment Eliminations | Consumer
Segment Reporting Information [Line Items]
Operating revenues	59	50
Intersegment Eliminations | Business
Segment Reporting Information [Line Items]
Operating revenues	19	13
Operating Segments
Segment Reporting Information [Line Items]
Operating revenues	29,446	29,867
Operating Income	8,236	8,298
Operating Segments | Consumer
Segment Reporting Information [Line Items]
Operating revenues	21,765	22,148
Operating Income	7,282	7,250
Operating Segments | Business
Segment Reporting Information [Line Items]
Operating revenues	7,681	7,719
Operating Income	$ 954	$ 1,048

Segment Information - Reconcili

Segment Information - Reconciliation of Operating Revenues (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	$ 31,610	$ 32,128
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	29,446	29,867
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	2,272	2,335
Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	$ (108)	$ (74)

Segment Information - Reconci_2

Segment Information - Reconciliation of Segments Operating Income to Consolidated Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Operating income	$ 6,579	$ 7,709
Other components of net periodic benefit charges	(203)	(203)
Loss on spectrum license transaction	(1,195)	0
Equity in losses of unconsolidated businesses	(12)	(6)
Other income, net	143	295
Interest expense	(1,034)	(1,210)
Income Before Provision For Income Taxes	5,676	6,788
Operating Segments
Segment Reporting Information [Line Items]
Operating income	8,236	8,298
Corporate and other
Segment Reporting Information [Line Items]
Operating income	$ (259)	$ (386)

Commitments and Contingencies (

Commitments and Contingencies (Detail)	3 Months Ended
	Mar. 31, 2020Agreementlegal_matter
Loss Contingencies [Line Items]
Approximate number of federal district court actions alleged for patent infringement | legal_matter	25
Guarantee obligations, term	30 years
Number of agreements | Agreement	2
Payment Guarantee
Loss Contingencies [Line Items]
Guarantee obligations, term	18 years