Verizon Communications (VZ) 10-Q 25 Oct 22 2022 Q3 Quarterly report Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2022 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	4,199,817,447
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
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
1.625% Notes due 2024
Entity Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2024
Trading Symbol	VZ 24B
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	VZ 24C
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	VZ 25
Security Exchange Name	NYSE
3.25% Notes due 2026
Entity Information [Line Items]
Title of 12(b) Security	3.25% Notes due 2026
Trading Symbol	VZ 26
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	VZ 26B
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	VZ 27E
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	VZ 28
Security Exchange Name	NYSE
1.125% Notes due 2028
Entity Information [Line Items]
Title of 12(b) Security	1.125% Notes due 2028
Trading Symbol	VZ 28A
Security Exchange Name	NYSE
2.350% Fixed Rate Notes due 2028
Entity Information [Line Items]
Title of 12(b) Security	2.350% Fixed Rate Notes due 2028
Trading Symbol	VZ 28C
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	VZ 29B
Security Exchange Name	NYSE
0.375% Notes due 2029
Entity Information [Line Items]
Title of 12(b) Security	0.375% Notes due 2029
Trading Symbol	VZ 29D
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	VZ 30
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	VZ 30A
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	VZ 31
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	VZ 31A
Security Exchange Name	NYSE
3.000% Fixed Rate Notes due 2031
Entity Information [Line Items]
Title of 12(b) Security	3.000% Fixed Rate Notes due 2031
Trading Symbol	VZ 31D
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	VZ 32
Security Exchange Name	NYSE
0.750% Notes due 2032
Entity Information [Line Items]
Title of 12(b) Security	0.750% Notes due 2032
Trading Symbol	VZ 32A
Security Exchange Name	NYSE
1.300% Notes due 2033
Entity Information [Line Items]
Title of 12(b) Security	1.300% Notes due 2033
Trading Symbol	VZ 33B
Security Exchange Name	NYSE
4.75% Notes due 2034
Entity Information [Line Items]
Title of 12(b) Security	4.75% Notes due 2034
Trading Symbol	VZ 34
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	VZ 35
Security Exchange Name	NYSE
1.125% Notes due 2035
Entity Information [Line Items]
Title of 12(b) Security	1.125% Notes due 2035
Trading Symbol	VZ 35A
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	VZ 36A
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	VZ 38B
Security Exchange Name	NYSE
1.875% Notes due 2038
Entity Information [Line Items]
Title of 12(b) Security	1.875% Notes due 2038
Trading Symbol	VZ 38C
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	VZ 39C
Security Exchange Name	NYSE
3.50% Fixed Rate Notes due 2039
Entity Information [Line Items]
Title of 12(b) Security	3.50% Fixed Rate Notes due 2039
Trading Symbol	VZ 39D
Security Exchange Name	NYSE
1.850% Notes due 2040
Entity Information [Line Items]
Title of 12(b) Security	1.850% Notes due 2040
Trading Symbol	VZ 40
Security Exchange Name	NYSE
3.850% Fixed Rate Notes due 2041
Entity Information [Line Items]
Title of 12(b) Security	3.850% Fixed Rate Notes due 2041
Trading Symbol	VZ 41C
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating Revenues
Operating Revenues	$ 34,241	$ 32,915	$ 101,584	$ 99,546
Operating Expenses
Selling, general and administrative expense	7,422	6,521	22,090	21,246
Depreciation and amortization expense	4,324	3,961	12,881	12,155
Total Operating Expenses	26,347	24,010	78,342	74,706
Operating Income	7,894	8,905	23,242	24,840
Equity in earnings of unconsolidated businesses	2	1	40	10
Other income (expense), net	(439)	269	(1,314)	1,172
Interest expense	(937)	(801)	(2,508)	(2,746)
Income Before Provision For Income Taxes	6,520	8,374	19,460	23,276
Provision for income taxes	(1,496)	(1,820)	(4,410)	(5,395)
Net Income	5,024	6,554	15,050	17,881
Net income attributable to noncontrolling interests	124	147	371	429
Net income attributable to Verizon	4,900	6,407	14,679	17,452
Net Income	$ 5,024	$ 6,554	$ 15,050	$ 17,881
Basic Earnings Per Common Share
Net income attributable to Verizon (USD per share)	$ 1.17	$ 1.55	$ 3.49	$ 4.21
Weighted-average shares outstanding (in shares)	4,202	4,142	4,201	4,141
Diluted Earnings Per Common Share
Net income attributable to Verizon (USD per share)	$ 1.17	$ 1.55	$ 3.49	$ 4.21
Weighted-average shares outstanding (in shares)	4,204	4,144	4,203	4,143
Service revenues and other
Operating Revenues
Operating Revenues	$ 27,666	$ 27,565	$ 81,999	$ 83,709
Wireless equipment
Operating Revenues
Operating Revenues	6,575	5,350	19,585	15,837
Operating Expenses
Cost of services and equipment	7,308	5,673	21,919	17,106
Service
Operating Expenses
Cost of services and equipment	$ 7,293	$ 7,855	$ 21,452	$ 24,199

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 5,024	$ 6,554	$ 15,050	$ 17,881
Other Comprehensive Income (Loss), Net of Tax (Expense) Benefit
Foreign currency translation adjustments, net of tax of $(13), $(6), $(30) and $(13)	(120)	(146)	(285)	(126)
Unrealized gain (loss) on cash flow hedges, net of tax of $(6), $61, $(97) and $15	22	(174)	301	(42)
Unrealized gain (loss) on fair value hedges, net of tax of $(30), $0, $58 and $0	105	0	(167)	0
Unrealized loss on marketable securities, net of tax of $3, $1, $10 and $2	(8)	0	(32)	(5)
Defined benefit pension and postretirement plans, net of tax of $129, $51, $201 and $154	(379)	(155)	(590)	(465)
Other comprehensive loss attributable to Verizon	(380)	(475)	(773)	(638)
Total Comprehensive Income	4,644	6,079	14,277	17,243
Comprehensive income attributable to noncontrolling interests	124	147	371	429
Comprehensive income attributable to Verizon	4,520	5,932	13,906	16,814
Total Comprehensive Income	$ 4,644	$ 6,079	$ 14,277	$ 17,243

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ (13)	$ (6)	$ (30)	$ (13)
Unrealized gain (loss) on cash flow hedges, tax	(6)	61	(97)	15
Unrealized gain (loss) from fair value hedges, tax	(30)	0	58	0
Unrealized gain (loss) on marketable securities, tax	3	1	10	2
Defined benefit pension and postretirement plans, tax	$ 129	$ 51	$ 201	$ 154

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 2,082	$ 2,921
Accounts receivable	24,475	24,742
Less Allowance for credit losses	805	896
Accounts receivable, net of allowance	23,670	23,846
Inventories	3,133	3,055
Prepaid expenses and other	10,861	6,906
Total current assets	39,746	36,728
Property, plant and equipment	300,870	289,897
Less Accumulated depreciation	197,866	190,201
Property, plant and equipment, net	103,004	99,696
Investments in unconsolidated businesses	1,083	1,061
Wireless licenses	149,292	147,619
Goodwill	28,548	28,603
Other intangible assets, net	11,196	11,677
Operating lease right-of-use assets	26,588	27,883
Other assets	15,633	13,329
Total assets	375,090	366,596
Current liabilities
Debt maturing within one year	14,995	7,443
Accounts payable and accrued liabilities	22,235	24,833
Current operating lease liabilities	3,961	3,859
Other current liabilities	11,950	11,025
Total current liabilities	53,141	47,160
Long-term debt	132,912	143,425
Employee benefit obligations	15,912	15,410
Deferred income taxes	42,094	40,685
Non-current operating lease liabilities	22,175	23,203
Other liabilities	20,073	13,513
Total long-term liabilities	233,166	236,236
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 shares issued in each period)	429	429
Additional paid in capital	13,467	13,861
Retained earnings	78,545	71,993
Accumulated other comprehensive loss	(1,700)	(927)
Common stock in treasury, at cost (91,616,199 and 93,634,725 shares outstanding)	(4,015)	(4,104)
Deferred compensation – employee stock ownership plans (ESOPs) and other	742	538
Noncontrolling interests	1,315	1,410
Total equity	88,783	83,200
Total liabilities and equity	$ 375,090	$ 366,596

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Series preferred stock, par value (USD per share)	$ 0.10	$ 0.10
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)	$ 0.10	$ 0.10
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)	91,616,199	93,634,725

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities
Net Income	$ 15,050	$ 17,881
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	12,881	12,155
Employee retirement benefits	479	(1,928)
Deferred income taxes	1,595	2,970
Provision for expected credit losses	1,048	604
Equity in losses (earnings) of unconsolidated businesses, net of dividends received	(13)	32
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses	(458)	603
Other, net	(2,383)	(1,155)
Net cash provided by operating activities	28,199	31,162
Cash Flows from Investing Activities
Capital expenditures (including capitalized software)	(15,811)	(13,861)
Cash received (paid) related to acquisitions of businesses, net of cash acquired	248	(459)
Acquisitions of wireless licenses	(2,890)	(47,027)
Collateral payments related to derivative contracts, net of repayments	(4,857)	(15)
Proceeds from disposition of business	33	4,122
Other, net	(43)	222
Net cash used in investing activities	(23,320)	(57,018)
Cash Flows from Financing Activities
Proceeds from long-term borrowings	4,605	32,482
Proceeds from asset-backed long-term borrowings	5,939	2,695
Net proceeds from short-term commercial paper	4,514	0
Repayments of long-term borrowings and finance lease obligations	(8,001)	(7,904)
Repayments of asset-backed long-term borrowings	(3,647)	(3,887)
Dividends paid	(8,066)	(7,797)
Other, net	(797)	(2,120)
Net cash provided by (used in) financing activities	(5,453)	13,469
Decrease in cash, cash equivalents and restricted cash	(574)	(12,387)
Cash, cash equivalents and restricted cash, beginning of period	4,161	23,498
Cash, cash equivalents and restricted cash, end of period	$ 3,587	$ 11,111

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
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, 2021. 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. Certain amounts have been reclassified to conform to the current period’s presentation. Earnings Per Common Share There were a total of approximately 1.6 million and 1.5 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the three and nine months ended September 30, 2022, respectively. There were a total of approximately 1.6 million and 1.7 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the three and nine months ended September 30, 2021, respectively. Cash, Cash Equivalents and Restricted Cash We consider all highly liquid investments with an original maturity of 90 days or less when purchased to be cash equivalents. Cash equivalents are stated at cost, which approximates quoted market value and includes amounts held in money market funds. Cash collections on the device payment plan agreement receivables collateralizing our asset-backed debt securities are required at certain specified times to be placed into segregated accounts. Deposits to the segregated accounts are considered restricted cash and are included in Prepaid expenses and other and Other assets in our condensed consolidated balance sheets. Cash, cash equivalents and restricted cash are included in the following line items in the condensed consolidated balance sheets: At September 30, At December 31, Increase / (Decrease) (dollars in millions) 2022 2021 Cash and cash equivalents $ 2,082 $ 2,921 $ (839) Restricted cash: Prepaid expenses and other 1,355 1,094 261 Other assets 150 146 4 Cash, cash equivalents and restricted cash $ 3,587 $ 4,161 $ (574)

Revenues and Contract Costs

Revenues and Contract Costs	9 Months Ended
	Sep. 30, 2022
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 (Small and Medium Business, Global Enterprise, Public Sector and Other, and Wholesale) within Business. See Note 10 for additional information on revenue by segment. Corporate and other primarily includes insurance captive revenues. We also earn revenues that are not accounted for under Accounting Standards Update (ASU) 2014-09, "Revenue from Contracts with Customers" (Topic 606) from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. As allowed by the practical expedient within ASU 2016-02, "Leases" (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 and nine months ended September 30, 2022, revenues from arrangements that were not accounted for under Topic 606 were approximately $774 million and $2.4 billion, respectively. During the three and nine months ended September 30, 2021, revenues from arrangements that were not accounted for under Topic 606 were approximately $803 million and $2.3 billion, 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. We 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 September 30, 2022, month-to-month service contracts represented approximately 94% of our wireless postpaid contracts and approximately 90% of our wireline Consumer and Small and Medium Business contracts, compared to September 30, 2021, for which month-to-month service contracts represented approximately 93% of our wireless postpaid contracts and 83% 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, with or without promotional credits that require maintenance of service, are generally either month-to-month and cancellable at any time, are considered to contain terms ranging from greater than one month to up to thirty-six months (typically under a device payment plan), or contain terms ranging from greater than one month to up to twenty-four months (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 are generally month-to-month; however, they may have a service term of two years or shorter than twelve months. 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 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 nine years ending in April 2032 and have aggregate contract minimum payments totaling $1.8 billion. At September 30, 2022, the transaction price related to unsatisfied performance obligations that are expected to be recognized for the remainder of 2022, 2023 and thereafter was $5.9 billion, $18.3 billion and $15.2 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 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 September 30, At January 1, At September 30, At January 1, (dollars in millions) 2022 2022 2021 2021 Receivables (1) $ 10,556 $ 10,758 $ 10,088 $ 12,029 Device payment plan agreement receivables (2) 14,680 12,888 11,178 10,358 (1) Balances do not include receivables related to the following contracts: leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. (2) Included in device payment plan agreement receivables presented in Note 6. Receivables derived from the sale of equipment on a device payment plan through an authorized agent are excluded. The following table presents information about contract balances: At September 30, At January 1, At September 30, At January 1, (dollars in millions) 2022 2022 2021 2021 Contract asset $ 869 $ 934 $ 878 $ 937 Contract liability (1) 7,954 7,229 6,034 5,598 (1) Revenue recognized related to contract liabilities existing at January 1, 2022 were $167 million and $4.8 billion for the three and nine months ended September 30, 2022, respectively. Revenue recognized related to contract liabilities existing at January 1, 2021 were $161 million and $4.2 billion for the three and nine months ended September 30, 2021, respectively. The balances of contract assets and contract liabilities recorded in our condensed consolidated balance sheets were as follows: At September 30, At December 31, (dollars in millions) 2022 2021 Assets Prepaid expenses and other $ 692 $ 739 Other assets 177 195 Total $ 869 $ 934 Liabilities Other current liabilities $ 6,475 $ 6,053 Other liabilities 1,479 1,176 Total $ 7,954 $ 7,229 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 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 The balances of deferred contract costs included in our condensed consolidated balance sheets were as follows: At September 30, At December 31, (dollars in millions) 2022 2021 Assets Prepaid expenses and other $ 2,572 $ 2,432 Other assets 2,362 2,259 Total $ 4,934 $ 4,691 For the three and nine months ended September 30, 2022, we recognized expense of $735 million and $2.2 billion, respectively, associated with the amortization of deferred contract costs, primarily within Selling, general and administrative expense in our condensed consolidated statements of income. For the three and nine months ended September 30, 2021, we recognized expense of $751 million and $2.3 billion, 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 and nine months ended September 30, 2022 or September 30, 2021.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Note 3. Acquisitions and Divestitures Spectrum License Transactions In February 2021, the Federal Communications Commission (FCC) concluded Auction 107 for C-Band wireless spectrum. Verizon paid $45.5 billion for the licenses it won, of which $44.6 billion was paid in the first quarter of 2021. In accordance with the rules applicable to the auction, Verizon is required to make payments for our allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction, which are estimated to be $7.7 billion. During the year ended December 31, 2021, we made payments of $1.3 billion primarily related to certain obligations for projected clearing costs. During the three and nine months ended September 30, 2022, we made additional payments of $196 million and $1.6 billion, respectively, for obligations related to accelerated clearing incentives and clearing costs, of which $1.4 billion were accrued as of December 31, 2021. We expect to continue to make payments related to clearing cost and incentive payment obligations through 2024. These payments are dependent on the incumbent license holders accelerated clearing of the spectrum for Verizon’s use and, therefore, the final timing and amounts could differ based on the incumbent holders’ execution of their clearing process. In accordance with the FCC order, the clearing must be completed by December 2025. The carrying value of the wireless spectrum won in Auction 107 consists of all payments required to participate and purchase licenses in the auction, including Verizon’s allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction that we are obligated to pay in order to acquire the licenses, as well as capitalized interest to the extent qualifying activities have occurred. In March 2022, Verizon signed agreements with satellite operators in which operators agreed to clear C-Band spectrum in certain markets and frequencies ahead of the previously expected December 2023 timeframe. During the three and nine months ended September 30, 2022, Verizon incurred costs of approximately $115 million and $279 million, respectively, associated with these agreements. These costs were accrued for as of September 30, 2022. This early clearance, if successful, would accelerate Verizon's access to more spectrum in a number of key markets to support its fifth-generation initiatives. During the nine months ended September 30, 2022, we entered into and completed various other wireless license acquisitions for cash consideration of an insignificant amount. During the nine months ended September 30, 2021, we recognized a pre-tax loss of $223 million ($167 million after-tax) in connection with the sale of certain wireless licenses. TracFone Wireless, Inc. In September 2020, we entered into a purchase agreement (TracFone Purchase Agreement) with América Móvil to acquire TracFone Wireless, Inc. (TracFone), a leading provider of prepaid and value mobile services in the U.S. The transaction closed on November 23, 2021 (the Acquisition Date). The acquisition positions Verizon as the leading prepaid, value and premium wireless carrier by expanding Verizon’s portfolio, bringing enhanced access of our wireless network and comprehensive suite of mobility products and services to a new customer base. In accordance with the terms of the TracFone Purchase Agreement, Verizon acquired all of TracFone's outstanding stock in exchange for approximately $3.5 billion in cash, net of cash acquired and working capital and other adjustments, subject to customary adjustments, 57,596,544 shares of Verizon common stock valued at approximately $3.0 billion, and up to an additional $650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the Verizon common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $540 million and represents a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 7 for additional information. The contingent consideration payable is based on the achievement of certain revenue and operational targets, measured over a two-year earn out period, as defined in the TracFone Purchase Agreement. In May 2022, Verizon received net cash proceeds of $248 million for the final settlement of working capital, which was included in our consideration as of the Acquisition Date. In August 2022, Verizon made a payment of $113 million related to the contingent consideration, which is reflected in Cash flows from financing activities in our condensed consolidated statements of cash flows for the nine months ended September 30, 2022. Contingent consideration payments are expected to continue through 2024. The TracFone acquisition was accounted for as a business combination. The purchase consideration was preliminarily allocated to the assets acquired and liabilities assumed based on their fair values as of the Acquisition Date. The following table summarizes the preliminary allocation of the consideration paid and payable to the identified assets acquired and liabilities assumed as of the Acquisition Date. The purchase price allocation is preliminary and is subject to revision as additional information about the fair value of the assets acquired and liabilities assumed, including related deferred income taxes, become available. November 23, Measurement Period Adjustments (1) Adjusted (dollars in millions) 2021 Fair Value Consideration: Cash, net of cash acquired and working capital and other adjustments $ 3,491 $ 17 $ 3,508 Fair value of Verizon common stock (57,596,544 shares) 2,981 — 2,981 Fair value of contingent consideration to be paid 542 (2) 540 Total consideration $ 7,014 $ 15 $ 7,029 Assets acquired: Current assets $ 1,370 $ 9 $ 1,379 Property, plant and equipment, net 96 (10) 86 Goodwill 3,723 (6) 3,717 Other intangible assets 4,374 — 4,374 Other assets 731 107 838 Total assets acquired $ 10,294 $ 100 $ 10,394 Liabilities assumed: Current liabilities 1,433 67 1,500 Deferred income taxes 1,007 (48) 959 Other liabilities 840 66 906 Total liabilities assumed $ 3,280 $ 85 $ 3,365 Net assets acquired $ 7,014 $ 15 $ 7,029 (1) Adjustments to the fair value measurements reflect new information obtained about facts and circumstances that existed as of the Acquisition Date, that if known, would have affected the measurement of the amounts recognized as of that date. The most significant adjustments related to deferred income taxes and deferred commission costs. Other intangible assets include $2.3 billion related to customer relationships, $1.3 billion related to distribution relationships, $744 million related to trade names and $110 million related to acquired technology. Goodwill is calculated as the difference between the Acquisition Date fair value of the consideration paid and payable and the fair value of the net assets acquired, representing future economic benefits that we expect to achieve as a result of the acquisition. The goodwill related to this acquisition is included within the Consumer segment. Pursuant to the TracFone Purchase Agreement, América Móvil agreed to indemnify Verizon against certain pre-acquisition tax matters and other contingencies. We have recorded total contingent liabilities and offsetting indemnification assets of $837 million for the expected reimbursement of these matters that had not been resolved as of the Acquisition Date. The liabilities are presented in Other liabilities and the indemnification assets are presented in Other assets, within our condensed consolidated balance sheets. The amounts recognized represent reasonable estimates based on an evaluation of current facts and circumstances. Actual outcome may differ significantly from these estimates. We expect that any additional liabilities that may arise related to these indemnified matters would be indemnified and reimbursed by América Móvil. Bluegrass Cellular In October 2020, we entered into a definitive agreement to acquire certain assets of Bluegrass Cellular (Bluegrass), a rural wireless operator serving central Kentucky. Bluegrass provides wireless service to 210,000 customers in 34 counties in rural service areas 3, 4, and 5 in Central Kentucky. The transaction closed in March 2021. The aggregate cash consideration paid by Verizon at the closing of the transaction was approximately $412 million, net of cash acquired. Verizon Media Divestiture On May 2, 2021, Verizon entered into a definitive agreement with an affiliate of Apollo Global Management Inc. (the Apollo Affiliate) pursuant to which we agreed to sell Verizon Media Group (Verizon Media) in return for consideration of $4.3 billion in cash, subject to customary adjustments, $750 million in non-convertible preferred limited partnership units of the Apollo Affiliate, and 10% of the fully-diluted common limited partnership units of the Apollo Affiliate. On September 1, 2021, we completed the sale of Verizon Media. As of the close of the transaction, cash proceeds, the fair value of the non-convertible preferred limited partnership units of the Apollo Affiliate, and the fair value of 10% of the fully-diluted common limited partnership units of the Apollo Affiliate were $4.3 billion, $496 million, and $124 million, respectively. We recorded a pre-tax gain on sale of approximately $1.1 billion (after-tax $1.1 billion) in Selling general and administrative expense in our condensed consolidated statement of income during both the three and nine months ended September 30, 2021. In addition, we incurred $346 million of various costs associated with this disposition which are primarily recorded in Selling general and administrative expense in our condensed consolidated statement of income for the three and nine months ended September 30, 2021. On September 28, 2021, the Apollo Affiliate redeemed $100 million of Verizon’s preferred limited partnership interest. The carrying value of our preferred limited partnership interest as of September 30, 2022 was $396 million. The redemption is reflected within Net cash used in investing activities in our condensed consolidated statement of cash flows for the nine months ended September 30, 2021. Verizon’s 10% common interest in the Apollo Affiliate is accounted for as an equity method investment. The post-sale results of Verizon’s common ownership interest in the Apollo Affiliate are recorded through the equity method of accounting, within Corporate and other, which are insignificant. In connection with the closing of the transaction, we entered into Transition Services Agreements with the Apollo Affiliate, under which Verizon will continue to provide and receive specified administrative and technical services to support operations for up to 12 months and 18 months, respectively. Under our ownership, Verizon Media generated revenues from contracts with customers under Topic 606 of approximately $1.4 billion and $5.3 billion during the three and nine months ended September 30, 2021, respectively. Other During the nine months ended September 30, 2022, we entered into and completed various other insignificant transactions for net cash consideration of an insignificant amount. In connection with divestiture and other activity we recorded a pre-tax net gain of an insignificant amount in our condensed consolidated statement of income for the nine months ended September 30, 2022.

Wireless Licenses, Goodwill and

Wireless Licenses, Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2022
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 our Wireless licenses are as follows: At September 30, At December 31, (dollars in millions) 2022 2021 Wireless licenses $ 149,292 $ 147,619 At September 30, 2022 and 2021, approximately $45.4 billion and $54.8 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded approximately $1.3 billion and $1.1 billion of capitalized interest on wireless licenses for the nine months ended September 30, 2022 and 2021, respectively. During the nine months ended September 30, 2022, we renewed various wireless licenses in accordance with FCC regulations. The average renewal period for these licenses was 15 years. Goodwill Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Consumer Business Other Total Balance at January 1, 2022 $ 21,042 $ 7,515 $ 46 $ 28,603 Acquisitions (1) (6) — — (6) Reclassifications, adjustments and other (2) — (27) (22) (49) Balance at September 30, 2022 $ 21,036 $ 7,488 $ 24 $ 28,548 (1) The change in goodwill relates to the acquisition of TracFone. See Note 3 for additional information. (2) Includes a goodwill impairment charge of $16 million, related to an early stage development company presented within Other, recorded in Selling, general and administrative expense in our condensed consolidated statements of income for the nine months ended September 30, 2022. Other Intangible Assets The following table displays the composition of Other intangible assets, net as well as the respective amortization periods: At September 30, 2022 At December 31, 2021 (dollars in millions) Gross Accumulated Net Gross Accumulated Net Customer lists (5 to 13 years) $ 4,185 $ (1,571) $ 2,614 $ 4,201 $ (1,126) $ 3,075 Non-network internal-use software (7 years) 22,644 (16,017) 6,627 21,310 (14,897) 6,413 Other (4 to 25 years) 2,996 (1,041) 1,955 2,974 (785) 2,189 Total $ 29,825 $ (18,629) $ 11,196 $ 28,485 $ (16,808) $ 11,677 The amortization expense for Other intangible assets was as follows: Three Months Ended Nine Months Ended (dollars in millions) September 30, September 30, 2022 $ 658 $ 1,944 2021 430 1,539 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 2022 $ 652 2023 2,468 2024 2,178 2025 1,993 2026 1,734 2027 1,033

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Note 5. Debt Significant Debt Transactions Debt or equity financing may be needed to fund additional investments or development activities or to maintain an appropriate capital structure to ensure our financial flexibility. The following tables show the significant transactions involving the senior unsecured debt securities of Verizon and its subsidiaries that occurred during the three and nine months ended September 30, 2022. Tender Offers (dollars in millions) Principal Amount Purchased Cash Consideration (1) Three Months Ended March 31, 2022 Verizon and subsidiary 2.987% - 8.950% notes and debentures, due 2032 - 2056 $ 5,032 $ 5,587 Three Months Ended March 31, 2022 total 5,032 5,587 Nine Months Ended September 30, 2022 total $ 5,032 $ 5,587 (1) The total cash consideration includes the tender offer consideration, plus any accrued and unpaid interest to the date of purchase. Repayments and Repurchases (dollars in millions) Principal Repaid/ Repurchased Amount Paid (1) Three Months Ended March 31, 2022 Verizon floating rate (London Inter-Bank Offered Rate + 1.000%) notes due 2022 $ 1,094 $ 1,097 Three Months Ended March 31, 2022 total 1,094 1,097 Three Months Ended June 30, 2022 Subsidiary 8.000% debentures due 2022 103 108 Open market repurchases of various Verizon notes 359 307 Three Months Ended June 30, 2022 total 462 415 Three Months Ended September 30, 2022 Open market repurchases of various Verizon notes 260 211 Three Months Ended September 30, 2022 total 260 211 Nine Months Ended September 30, 2022 total $ 1,816 $ 1,723 (1) Represents amount paid to repay or repurchase, including any accrued interest. Issuances (dollars in millions) Principal Amount Issued Net Proceeds (1) Three Months Ended March 31, 2022 Verizon 3.875% notes due 2052 (2) $ 1,000 $ 982 Verizon 4.100% notes due 2055 655 650 Three Months Ended March 31, 2022 total 1,655 1,632 Nine Months Ended September 30, 2022 total $ 1,655 $ 1,632 (1) Net proceeds were net of underwriting discounts and other issuance costs. (2) An amount equal to the net proceeds from this green bond is expected to be used to fund, in whole or in part, certain renewable energy projects, including new and existing investments made by us during the period from December 1, 2021 through the maturity date of the green bond. Short-Term Borrowing and Commercial Paper Program In March 2022, we entered into and fully drew from a $1.0 billion short-term uncommitted credit facility. As of September 30, 2022, the $1.0 billion borrowed under the facility remains outstanding. During the nine months ended September 30, 2022, we issued $26.5 billion in commercial paper and we repaid $21.9 billion of commercial paper. As of September 30, 2022, we had $4.6 billion of commercial paper outstanding. These transactions are reflected within Cash flows from financing activities in our condensed consolidated statements of cash flows. Asset-Backed Debt As of September 30, 2022 , the carrying value of our asset-backed debt was $16.5 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), a wholly-owned subsidiary of Verizon, 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 and residual interests, as applicable, in the ABS Entities, which represent the rights to all funds not needed to make required payments on the asset-backed debt and other related payments and expenses. Our asset-backed debt is secured by the transferred device payment plan agreement receivables and future collections on such receivables. The device payment plan agreement receivables transferred to the ABS Entities and related assets, consisting primarily of restricted cash, will only be available for payment of asset-backed debt and expenses related thereto, payments to the Originators in respect of additional transfers of device payment plan agreement receivables, and other obligations arising from our asset-backed debt transactions, and will not be available to pay other obligations or claims of Verizon’s creditors until the associated asset-backed debt and other obligations are satisfied. The Investors or Banks, as applicable, which hold our asset-backed debt have legal recourse to the assets securing the debt, but do not have any recourse to Verizon with respect to the payment of principal and interest on the debt. Under a parent support agreement, Verizon has agreed to guarantee certain of the payment obligations of Cellco and the Originators to the ABS Entities. Cash collections on the device payment plan agreement receivables collateralizing our asset-backed debt securities are required at certain specified times to be placed into segregated accounts. Deposits to the segregated accounts are considered restricted cash and are included in Prepaid expenses and other and Other assets in our 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. ABS Notes During the nine months ended September 30, 2022 , we completed the following ABS Notes transactions: (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued January 2022 Series 2022-1 A Senior class notes 1.040 1.49 $ 799 B Junior class notes 1.270 1.49 64 C Junior class notes 1.390 1.49 37 Series 2022-2 A Senior class notes 1.530 2.99 710 B Junior class notes 1.830 2.99 57 C Junior class notes 2.010 2.99 33 January 2022 total 1,700 May 2022 Series 2022-3 A Senior class notes 3.010 1.49 400 B Junior class notes 3.250 1.49 — C Junior class notes 3.500 1.49 16 Series 2022-4 A Senior class notes 3.400 2.99 488 B Junior class notes 3.640 2.99 42 C Junior class notes 3.890 2.99 20 May 2022 total 966 August 2022 Series 2022-5 A-1a Senior fixed rate class notes 3.720 1.44 351 A-1b Senior floating rate class notes Compounded SOFR + 0.620 (1) 1.44 57 B Junior class notes 3.960 1.44 — C Junior class notes 4.210 1.44 — Series 2022-6 A Senior class notes 3.670 2.94 479 B Junior class notes 3.910 2.94 — C Junior class notes 4.160 2.94 — August 2022 total 887 Total $ 3,553 (1) Compounded Secured Overnight Financing Rate (SOFR) is calculated using SOFR as published by the Federal Reserve Bank of New York in accordance with the terms of such notes. Compounded SOFR for the interest period ending in September 2022 was 2.285%. Under the terms of each series of ABS Notes, there is a revolving period of 18 months, two years or up to three years, as applicable, during which we may transfer additional receivables to the ABS Entity. During the nine months ended September 30, 2022 , we made aggregate principal repayments of $3.0 billion on ABS Notes that have entered the amortization period, including principal payments made in connection with optional clean-up redemptions. In October 2022, in connection with an optional acquisition of receivables and redemption of ABS Notes, we made a principal payment, in whole, for $129 million. ABS Financing Facilities In January 2022, we prepaid an aggregate of $515 million of the two loans outstanding in connection with the ABS Financing Facility entered into in December 2021. In March 2022, we borrowed an additional $1.9 billion under the loan agreements entered into in connection with such ABS Financing Facility. In May 2022, we prepaid an aggregate of $130 million of the two loans outstanding in connection with such ABS Financing Facility. In June 2022, we borrowed an additional $545 million under the loan agreements entered into in connection with such ABS Financing Facility. T he aggregate outstanding balance under such ABS Financing Facility was $6.1 billion as of September 30, 2022 . In October 2022, we entered into an ABS financing facility with a financial institution (2022 ABS Financing Facility). Under the terms of the 2022 ABS Financing Facility, the financial institution makes advances under asset-backed loans backed by certain wireless service accounts receivables of both Consumer customers and Business customers. The loan agreement entered into in connection with the 2022 ABS Financing Facility is outstanding with a final maturity date in June 2024 and the loan agreement bears interest at a floating rate. There is an 18 month revolving period, as set forth in the loan agreement, which may be extended with the approval of the financial institution. Under the 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 applicable ABS Entity. In October 2022, we borrowed $2.0 billion under the loan agreement entered into in connection with the 2022 ABS Financing Facility. 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 September 30, At December 31, (dollars in millions) 2022 2021 Assets Accounts receivable, net $ 11,312 $ 10,705 Prepaid expenses and other 1,357 1,094 Other assets 8,359 5,455 Liabilities Accounts payable and accrued liabilities 8 10 Debt maturing within one year 6,587 5,024 Long-term debt 9,923 9,178 See Note 6 for additional information on device payment plan agreement receivables used to secure asset-backed debt. Long-Term Credit Facilities At September 30, 2022 (dollars in millions) Maturities Facility Capacity Unused Capacity Principal Amount Outstanding Verizon revolving credit facility (1) 2026 $ 9,500 $ 9,434 N/A Various export credit facilities (2) 2024 - 2031 11,000 1,000 $ 7,000 Total $ 20,500 $ 10,434 $ 7,000 N/A - not applicable (1) The revolving credit facility does not require us to comply with financial covenants or maintain specified credit ratings, and it permits us to borrow even if our business has incurred a material adverse change. The revolving credit facility provides for the issuance of letters of credit. (2) During the nine months ended September 30, 2022 and 2021, we drew down $3.0 billion and $470 million , respectively, from these facilities. These credit facilities are used to finance equipment-related purchases. Borrowings under certain of these facilities amortize semi-annually in equal installments up to the applicable maturity dates. Maturities reflect maturity dates of principal amounts outstanding. Any amounts borrowed under these facilities and subsequently repaid cannot be reborrowed. Non-Cash Transactions During the nine months ended September 30, 2022 and 2021, we financed, primarily through alternative financing arrangements, the purchase of approximately $583 million and $337 million, respectively, of long-lived assets consisting primarily of network equipment. As of September 30, 2022 and December 31, 2021, $1.6 billion and $1.3 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. Debt Extinguishment Gains (Losses), Net During the three months ended September 30, 2022, we recorded debt extinguishment gains of $50 million. During the nine months ended September 30, 2022, we recorded net debt extinguishment losses of $1.1 billion. During the three months ended September 30, 2021, we did not record debt extinguishment losses. During the nine months ended September 30, 2021, we recorded debt extinguishment losses of $1.1 billion. The gains and losses are recorded in Other income (expense), net in our condensed consolidated statements of income. The total gains and losses are reflected within Other, net cash flow from operating activities and the portion of the gains and losses representing cash payments are reflected within Other, net cash flow from financing activities in our condensed consolidated statements of cash flows. Guarantees We guarantee the debentures of our operating telephone company subsidiaries. As of September 30, 2022 , $614 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. Debt Covenants We and our consolidated subsidiaries are in compliance with all of our restrictive covenants in our debt agreements.

Device Payment Plan Agreement a

Device Payment Plan Agreement and Wireless Service Receivables	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Device Payment Plan Agreement 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 sheets: At September 30, 2022 (dollars in millions) Device payment plan agreement Wireless Other receivables (1) Total Accounts receivable $ 13,281 $ 5,141 $ 6,053 $ 24,475 Less Allowance for credit losses 455 114 236 805 Accounts receivable, net of allowance $ 12,826 $ 5,027 $ 5,817 $ 23,670 (1) Other receivables primarily include wireline receivables and other receivables, the allowances for which are individually insignificant. 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. We no longer offer Consumer customers new fixed-term, subsidized service plans for devices; however, we continue to offer subsidized plans to our Business customers. We also continue to service existing plans for customers who have not yet purchased and activated devices under the Verizon device payment program. Wireless Device Payment Plan Agreement Receivables The following table displays device payment plan agreement receivables, net, recognized in our condensed consolidated balance sheets: At September 30, At December 31, (dollars in millions) 2022 2021 Device payment plan agreement receivables, gross $ 24,185 $ 21,303 Unamortized imputed interest (386) (358) Device payment plan agreement receivables, at amortized cost 23,799 20,945 Allowance (1) (772) (759) Device payment plan agreement receivables, net $ 23,027 $ 20,186 Classified in our condensed consolidated balance sheets: Accounts receivable, net $ 12,826 $ 12,783 Other assets 10,201 7,403 Device payment plan agreement receivables, net $ 23,027 $ 20,186 (1) Includes allowance for both short-term and long-term device payment plan agreement receivables. Included in our device payment plan agreement receivables at both September 30, 2022 and December 31, 2021, are net device payment plan agreement receivables of $19.5 billion and $16.0 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 In connection with certain device payment plan agreements, we may offer a promotion to 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. 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. At September 30, 2022 and December 31, 2021, the amount of the guarantee liability was $61 million and $77 million, respectively. 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. At September 30, 2022 and December 31, 2021, the amount of trade-in liability was $460 million and $366 million, respectively. In addition, we may provide the customer with additional future billing credits that will be applied against the customer’s monthly bill as long as service is maintained. These future billing credits are accounted for as consideration payable to a customer and are included in the determination of total transaction price, resulting in a contract liability. Device payment plan agreement receivables, net, does not reflect the trade-in liability, additional future credits or the guarantee liability. 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. Available external credit data from credit reporting agencies along with internal data are used to create custom credit risk scores 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 a credit class, each of which has specified offers of credit. This includes an account level spending limit and a maximum amount of credit allowed per device for Consumer customers or a required down payment percentage for Business customers. 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 less than 210 days as "new customers." The model for existing customers pools all Consumer and Business wireless customers based on 210 days or more as "existing customers." The following table presents device payment plan agreement receivables, at amortized cost, as of September 30, 2022, by credit quality indicator and year of origination: Year of Origination (1) (dollars in millions) 2022 2021 Prior to 2021 Total New customers $ 1,993 $ 1,273 $ 82 $ 3,348 Existing customers 12,299 7,608 544 20,451 Total $ 14,292 $ 8,881 $ 626 $ 23,799 (1) Includes accounts that have been suspended at a point in time. The data presented in the table above was last updated on September 30, 2022. We assess indicators for the quality of our wireless service receivables portfolio as one overall pool. As of September 30, 2022, wireless service receivables, at amortized cost, originating in 2022 and 2021 were $5.1 billion and $66 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. 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, public sector 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 is adjusted based on the historical loss amounts for current and future conditions based on management’s qualitative considerations. For global enterprise, public sector and wholesale wireline receivables, the allowance for credit losses is based on historical write-off experience and individual customer credit risk, if applicable. Activity in the allowance for credit losses by portfolio segment of receivables was as follows: (dollars in millions) Device Payment Plan Agreement Receivables (1) Wireless Service Plan Receivables Balance at January 1, 2022 $ 759 $ 130 Current period provision for expected credit losses 606 275 Write-offs charged against the allowance (619) (324) Recoveries collected 26 33 Balance at September 30, 2022 $ 772 $ 114 (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 and wireless service 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. The risk class determines the speed and severity of the collections effort including initiatives taken to facilitate customer payment. The balance and aging of the device payment plan agreement receivables, at amortized cost, were as follows: At September 30, (dollars in millions) 2022 Unbilled $ 22,567 Billed: Current 1,022 Past due 210 Device payment plan agreement receivables, at amortized cost $ 23,799

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements and Financial Instruments	Note 7. Fair Value Measurements and Financial Instruments Recurring Fair Value Measurements The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of September 30, 2022: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Prepaid expenses and other: Fixed income securities $ — $ 32 $ — $ 32 Cross currency swaps — 1 — 1 Interest rate caps — 33 — 33 Other assets: Fixed income securities — 341 — 341 Cross currency swaps — 53 — 53 Interest rate caps — 11 — 11 Total $ — $ 471 $ — $ 471 Liabilities: Other current liabilities: Interest rate swaps $ — $ 704 $ — $ 704 Foreign exchange forwards — 10 — 10 Cross currency swaps — 346 — 346 Interest rate caps — 32 — 32 Contingent consideration — — 313 313 Other liabilities: Interest rate swaps — 3,850 — 3,850 Cross currency swaps — 5,190 — 5,190 Interest rate caps — 10 — 10 Contingent consideration — — 114 114 Total $ — $ 10,142 $ 427 $ 10,569 (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. The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2021: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Prepaid expenses and other: Fixed income securities $ — $ 18 $ — $ 18 Interest rate swaps — 188 — 188 Cross currency swaps — 9 — 9 Foreign exchange forwards — 12 — 12 Other assets: Fixed income securities — 391 — 391 Interest rate swaps — 285 — 285 Cross currency swaps — 580 — 580 Interest rate caps — 44 — 44 Total $ — $ 1,527 $ — $ 1,527 Liabilities: Other current liabilities: Interest rate swaps $ — $ 1 $ — $ 1 Forward starting interest rate swaps — 302 — 302 Cross currency swaps — 218 — 218 Contingent consideration — — 231 231 Other liabilities: Interest rate swaps — 665 — 665 Cross currency swaps — 1,406 — 1,406 Interest rate caps — 44 — 44 Contingent consideration — — 313 313 Total $ — $ 2,636 $ 544 $ 3,180 (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 September 30, 2022 and December 31, 2021, the carrying amount of our investments without readily determinable fair values was $814 million and $808 million, respectively. During both the three and nine months ended September 30, 2022, there were insignificant adjustments due to observable price changes and there were insignificant impairment charges. As of September 30, 2022, cumulative adjustments due to observable price changes and impairment charges were approximately $157 million and $82 million, respectively. Verizon has a liability for contingent consideration related to its acquisition of TracFone, completed in November 2021. The fair value is calculated using a probability-weighted discounted cash flow model and represents a Level 3 measurement. Level 3 instruments include valuation based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. Subsequent to the Acquisition Date, at each reporting date, the contingent consideration liability is remeasured to fair value with changes recorded within Selling, general and administrative expense in our condensed consolidated statements of income. During the three months ended September 30, 2022, we made a payment of $113 million related to the contingent consideration. Refer to Note 3 for additional information. Fixed income securities consist primarily of investments in municipal bonds. The valuation of the fixed income securities is based on the quoted prices for similar assets in active markets or identical assets in inactive markets or models that apply inputs from observable market data. The valuation determines that these securities are classified as Level 2. Derivative contracts are valued using models based on readily observable market parameters for all substantial terms of our derivative contracts and thus are classified within Level 2. We use mid-market pricing for fair value measurements of our derivative instruments. Our derivative instruments are recorded on a gross basis. We recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. 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 Level 1 Level 2 Level 3 Total At December 31, 2021 $ 149,543 $ 106,599 $ 62,606 $ — $ 169,205 At September 30, 2022 146,326 82,250 51,393 — 133,643 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, swaptions 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 September 30, At December 31, (dollars in millions) 2022 2021 Interest rate swaps $ 26,071 $ 19,779 Cross currency swaps 32,502 32,502 Forward starting interest rate swaps — 1,000 Foreign exchange forwards 940 932 The following tables summarize the activities of our designated derivatives: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Interest Rate Swaps: Notional value entered into $ — $ — $ 7,155 $ 2,550 Notional value settled — 851 863 3,540 Pre-tax gain recognized in Interest expense 2 — 2 1 Cross Currency Swaps: Notional value entered into — — — 6,214 Notional value settled — — — — Pre-tax loss recognized in Other comprehensive loss (1) N/A (1,057) (430) (1,984) Pre-tax loss on cross currency swaps recognized in Interest expense (2,039) N/A (3,847) N/A Pre-tax gain on hedged debt recognized in Interest expense 2,039 N/A 3,847 N/A Excluded components recognized in Other comprehensive loss 169 N/A (171) N/A Initial value of the excluded component amortized into Interest expense 27 N/A 54 N/A Forward Starting Interest Rate Swaps: Notional value entered into — — — — Notional value settled — — 1,000 1,000 Pre-tax gain recognized in Other comprehensive loss — — 196 279 Treasury Rate Locks: Notional value entered into — — — 4,650 Notional value settled — — — 4,650 Pre-tax gain recognized in Other comprehensive loss — — — 251 N/A - not applicable (1) Represents amounts recorded under the cash flow hedge model. These instruments were re-designated as fair value hedges on March 31, 2022. Nine Months Ended September 30, (dollars in millions) 2022 2021 Other, net Cash Flows from Operating Activities: Cash received for settlement of interest rate swaps $ 40 $ 110 Cash paid for settlement of forward starting interest rate swaps (107) (237) Cash received for settlement of treasury rate locks — 251 The following table displays the amounts recorded in Long-term debt in our condensed consolidated balance sheets related to cumulative basis adjustments for fair value hedges. The cumulative amounts exclude cumulative basis adjustments related to foreign exchange risk. At September 30, At December 31, (dollars in millions) 2022 2021 Carrying amount of hedged liabilities $ 21,836 $ 20,027 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (4,432) (113) Cumulative amount of fair value hedging adjustment remaining for which hedge accounting has been discontinued 510 575 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, 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 primarily offset by changes in the fair value of the hedged debt due to changes in interest rates. Cross Currency Swaps We have entered into cross currency swaps previously designated as cash flow hedges through March 31, 2022 to exchange our British Pound Sterling, Euro, Swiss Franc, Canadian Dollar 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. A portion of the loss recognized in Other comprehensive loss was reclassified to Interest expense to offset the related pre-tax foreign currency transaction gain or loss on the underlying hedged item. On March 31, 2022, we elected to de-designate our cross currency swaps as cash flow hedges and re-designated these swaps as fair value hedges. For these hedges, we have elected to exclude the change in fair value of the cross currency swaps related to both time value and cross currency basis spread from the assessment of hedge effectiveness (the excluded components). The initial value of the excluded components of $1.0 billion as of March 31, 2022 will continue to be amortized into Interest expense over the remaining life of the hedging instruments. We estimate that $108 million will be amortized into Interest expense within the next 12 months. We record the cross currency swaps at fair value in our condensed consolidated balance sheets as assets and liabilities. Changes in the fair value of the cross currency swaps attributable to changes in the spot rate of the hedged item and changes in the recorded value of the hedged debt due to changes in spot rates are recorded in the same income statement line item. We present exchange gains and losses from the conversion of foreign currency denominated debt as a part of Interest expense. During the three and nine months ended September 30, 2022 , these amounts completely offset each other and no net gain or loss was recorded. Changes in the fair value of cross currency swaps attributable to time value and cross currency basis spread are initially recorded to Other comprehensive loss. Unrealized gains or losses on excluded components are recorded in Other comprehensive loss and are recognized into Interest expense on a systematic and rational basis through the swap accrual over the life of the hedging instrument. The amount remaining in Accumulated other comprehensive loss related to cash flow hedges on the date of transition will be reclassified to earnings when the hedged item is recognized in earnings or when it becomes probable that the forecasted transactions will not occur. During the three and nine months ended September 30, 2022 , the amortization of the initial value of the excluded component completely offset the amortization related to the amount remaining in Other comprehensive loss related to cash flow hedges. See Note 9 for additional information. 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. We recognize gains and losses resulting from interest rate movements in Other comprehensive loss . Treasury Rate Locks We enter into treasury rate locks to mitigate our interest rate risk. We recognize gains and losses resulting from interest rate movements in Other comprehensive loss . 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 Euro-denominated debt designated as a net investment hedge was €750 million as of both September 30, 2022 and December 31, 2021. 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. The following table summarizes the activity of our derivatives not designated in hedging relationships: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Foreign Exchange Forwards: Notional value entered into $ 2,642 $ 2,745 $ 8,144 $ 9,970 Notional value settled 2,703 3,365 8,136 10,505 Pre-tax loss recognized in Other income (expense), net (75) (29) (169) (51) Swaptions: Notional value sold — 1,000 1,000 1,000 Notional value settled — — 1,000 — Pre-tax loss recognized in Interest expense — — (33) — 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. Swaptions We enter into swaptions to achieve a targeted mix of fixed and variable rate debt. 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.

Employee Benefits

Employee Benefits	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 2021 2022 2021 Service cost - Cost of services $ 52 $ 59 $ 20 $ 24 Service cost - Selling, general and administrative expense 7 8 4 4 Service cost $ 59 $ 67 $ 24 $ 28 Amortization of prior service cost (credit) $ 24 $ 16 $ (106) $ (223) Expected return on plan assets (274) (309) (6) (6) Interest cost 151 102 83 72 Remeasurement loss, net 645 144 — — Other components $ 546 $ (47) $ (29) $ (157) Total $ 605 $ 20 $ (5) $ (129) (dollars in millions) Pension Health Care and Life Nine Months Ended September 30, 2022 2021 2022 2021 Service cost - Cost of services $ 168 $ 186 $ 60 $ 71 Service cost - Selling, general and administrative expense 23 26 11 14 Service cost $ 191 $ 212 $ 71 $ 85 Amortization of prior service cost (credit) $ 54 $ 46 $ (419) $ (670) Expected return on plan assets (865) (927) (20) (17) Interest cost 375 296 249 217 Remeasurement loss (gain), net 843 (1,170) — — Other components $ 407 $ (1,755) $ (190) $ (470) Total $ 598 $ (1,543) $ (119) $ (385) 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 (expense), net. During the three months ended September 30, 2022, we updated the expected return on plan assets assumption for our pension plans from 6.25% at December 31, 2021 to 7.25% based upon the expected market returns for our targeted asset allocation. Severance Payments During the three and nine months ended September 30, 2022, we paid severance benefits of an insignificant amount and $155 million, respectively. At September 30, 2022, we had a remaining severance liability of $400 million, a portion of which includes future contractual payments to separated employees. Employer Contributions During both the three and nine months ended September 30, 2022 and September 30, 2021, we made no contributions to our qualified pension plans and made insignificant contributions to our nonqualified pension plans. We do not expect mandatory pension funding through December 31, 2022. There have been no significant changes with respect to the nonqualified pension and other postretirement benefit plans contributions in 2022. Remeasurement loss (gain), net During the three and nine months ended September 30, 2022, we recorded a net pre-tax remeasurement loss of $645 million and $843 million, respectively, in our pension plans triggered by settlements as well as amendments to our collective bargaining agreements. During the three months ended September 30, 2022, we recorded a net pre-tax remeasurement loss of $645 million in our pension plans triggered by settlements as well as amendments to our collective bargaining agreements, primarily driven by a $3.5 billion charge resulting from the difference between our estimated and actual return on assets, partially offset by a credit of $2.9 billion mainly due to changes in our discount rate and changes in our lump sum interest rate assumptions used to determine the current year liabilities of our pension plans. During the three months ended June 30, 2022, we recorded a net pre-tax remeasurement loss of $198 million in our pension plans triggered by settlements, primarily driven by a $654 million charge resulting from the difference between our estimated and actual return on assets, partially offset by a credit of $456 million mainly due to changes in our discount rate and changes in our lump sum interest rate assumptions used to determine the current year liabilities of our pension plans. During the three and nine months ended September 30, 2021, we recorded a net pre-tax remeasurement loss of $144 million and a net pre-tax remeasurement gain of $1.2 billion, respectively, in our pension plans triggered by settlements. During the three months ended September 30, 2021, we recorded a pre-tax remeasurement loss of $144 million in our pension plans driven by a $667 million charge due to changes in our discount rate and other assumption changes, offset by a $523 million credit resulting from the difference between our estimated and our actual return on assets. During the three months ended June 30, 2021, we recorded a pre-tax remeasurement gain of $1.3 billion in our pension plans triggered by settlements, primarily driven by a $1.2 billion credit mainly due to changes in our discount rate and changes in our lump sum interest rate assumptions used to determine the current year liabilities of our pension plans and a $122 million credit resulting from the difference between our estimated and our actual return on assets. 2022 Collective Bargaining Negotiations In July 2022, union members ratified the extension of our collective bargaining agreements with the Communications Workers of America and the International Brotherhood of Electrical Workers for three years, from August 5, 2023 until August 1, 2026. Change in Defined Benefit Pension Plans During the three months ended September 30, 2022, amendments were made to certain pension plans for certain union represented employees. The impact of the plan amendments was an increase in our defined benefit pension plan obligations of approximately $427 million, which has been recorded as a net decrease to Accumulated other comprehensive income of $317 million (net of taxes of $110 million). The impact of the amount recorded in Accumulated other comprehensive income that will be reclassified to net periodic benefit cost is minimal.

Equity and Accumulated Other Co

Equity and Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Equity and Accumulated Other Comprehensive Loss	Note 9. Equity and Accumulated Other Comprehensive Loss 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 September 30, 2022 2021 Shares Amount Shares Amount Common Stock Balance at beginning of period 4,291,434 $ 429 4,291,434 $ 429 Balance at end of period 4,291,434 429 4,291,434 429 Additional Paid In Capital Balance at beginning of period 13,872 13,403 Other (1) (405) (1) Balance at end of period 13,467 13,402 Retained Earnings Balance at beginning of period 76,401 66,310 Net income attributable to Verizon 4,900 6,407 Dividends declared ($0.6525, $0.6400 per share) (2,741) (2,651) Other (15) (4) Balance at end of period 78,545 70,062 Accumulated Other Comprehensive Loss Balance at beginning of period attributable to Verizon (1,320) (234) Foreign currency translation adjustments (120) (146) Unrealized gain (loss) on cash flow hedges 22 (174) Unrealized gain on fair value hedges 105 — Unrealized loss on marketable securities (8) — Defined benefit pension and postretirement plans (379) (155) Other comprehensive loss (380) (475) Balance at end of period attributable to Verizon (1,700) (709) Treasury Stock Balance at beginning of period (91,719) (4,020) (151,318) (6,632) Employee plans 103 5 48 2 Balance at end of period (91,616) (4,015) (151,270) (6,630) Deferred Compensation-ESOPs and Other Balance at beginning of period 654 408 Restricted stock equity grant 98 85 Amortization (10) (3) Balance at end of period 742 490 Noncontrolling Interests Balance at beginning of period 1,341 1,428 Total comprehensive income 124 147 Distributions and other (1) (150) (130) Balance at end of period 1,315 1,445 Total Equity $ 88,783 $ 78,489 (1) 2022 period includes adjustments related to the acquisition of additional interests in certain controlled wireless partnerships. (dollars in millions, except per share amounts, and shares in thousands) Nine months ended September 30, 2022 2021 Shares Amount Shares Amount Common Stock Balance at beginning of period 4,291,434 $ 429 4,291,434 $ 429 Balance at end of period 4,291,434 429 4,291,434 429 Additional Paid In Capital Balance at beginning of period 13,861 13,404 Other (1) (394) (2) Balance at end of period 13,467 13,402 Retained Earnings Balance at beginning of period 71,993 60,464 Net income attributable to Verizon 14,679 17,452 Dividends declared ($1.9325, $1.8950 per share) (8,120) (7,850) Other (7) (4) Balance at end of period 78,545 70,062 Accumulated Other Comprehensive Loss Balance at beginning of period attributable to Verizon (927) (71) Foreign currency translation adjustments (285) (126) Unrealized gain (loss) on cash flow hedges 301 (42) Unrealized loss on fair value hedges (167) — Unrealized loss on marketable securities (32) (5) Defined benefit pension and postretirement plans (590) (465) Other comprehensive loss (773) (638) Balance at end of period attributable to Verizon (1,700) (709) Treasury Stock Balance at beginning of period (93,635) (4,104) (153,304) (6,719) Employee plans 2,016 89 2,031 89 Shareholder plans 3 — 3 — Balance at end of period (91,616) (4,015) (151,270) (6,630) Deferred Compensation-ESOPs and Other Balance at beginning of period 538 335 Restricted stock equity grant 368 315 Amortization (164) (160) Balance at end of period 742 490 Noncontrolling Interests Balance at beginning of period 1,410 1,430 Total comprehensive income 371 429 Distributions and other (1) (466) (414) Balance at end of period 1,315 1,445 Total Equity $ 88,783 $ 78,489 (1) 2022 period includes adjustments related to the acquisition of additional interests in certain controlled wireless partnerships. Common Stock Verizon did not repurchase any shares of Verizon common stock through its previously authorized share buyback program during the nine months ended September 30, 2022. At September 30, 2022, 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 2.0 million shares of common stock issued from Treasury stock during the nine months ended September 30, 2022. Noncontrolling Interests During the three months ended September 30, 2022, Verizon entered into and completed an agreement to acquire additional interests in certain controlled wireless partnerships for cash consideration of $458 million. Verizon continues to retain controlling financial interest within these partnerships, therefore the changes in ownership interest were accounted for as equity transactions which resulted in a reduction of additional paid-in capital of $406 million and noncontrolling interest of $52 million for both the three and nine months ended September 30, 2022. These transactions were recorded within Other, net cash flow from financing activities in our condensed consolidated statements of cash flows for the nine months ended September 30, 2022. Accumulated Other Comprehensive Loss The changes in the balances of Accumulated other comprehensive loss by component were as follows: (dollars in millions) Foreign Unrealized gain (loss) on cash flow hedges Unrealized loss on fair value hedges Unrealized gain (loss) on marketable securities Defined benefit pension and postretirement plans Total Balance at January 1, 2022 $ (545) $ (1,472) $ — $ 16 $ 1,074 $ (927) Excluded components recognized in other comprehensive income — — (127) — — (127) Other comprehensive loss (285) (174) — (32) (317) (808) Amounts reclassified to net income — 475 (40) — (273) 162 Net other comprehensive income (loss) (285) 301 (167) (32) (590) (773) Balance at September 30, 2022 $ (830) $ (1,171) $ (167) $ (16) $ 484 $ (1,700) The amounts presented above in Net other comprehensive income (loss) are net of taxes. The amounts reclassified to net income related to unrealized gain (loss) on cash flow hedges and unrealized loss on fair value hedges in the table above are included in Interest expense in our condensed consolidated statements of income. See Note 7 for additional information. The amounts reclassified to net income related to unrealized loss on marketable securities in the table above are included in Other income (expense), net in our condensed consolidated statements of income. The amounts reclassified to net income related to defined benefit pension and postretirement plans in the table above are included in Other income (expense), net in our condensed consolidated statements of income. See Note 8 for additional information.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
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 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, TracFone brands and through wholesale and other arrangements. We also provide fixed wireless access (FWA) broadband through our wireless networks. 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 through our Verizon Fios product portfolio 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, including data, video and conferencing 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 also provide FWA broadband through our wireless networks. 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: Small and Medium Business, Global Enterprise, Public Sector and Other, and Wholesale. Corporate and other primarily includes insurance captives, investments in unconsolidated businesses and development stage businesses that support our strategic initiatives, as well as 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, including Verizon Media, and other adjustments and gains and losses that are not allocated in assessing segment performance due to their nature. Although such transactions are excluded from the business segment results, they are included in reported consolidated earnings. Gains and losses from these transactions that are not individually significant are included in segment results as these items are included in the chief operating decision maker’s assessment of segment performance. We completed the sale of Verizon Media on September 1, 2021. Refer to Note 3 for additional information on the sale of Verizon Media. The following table provides operating financial information for our two reportable segments: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 External Operating Revenues Consumer Service $ 18,421 $ 16,889 $ 54,696 $ 50,159 Wireless equipment 5,558 4,530 16,640 13,461 Other (1) 1,809 1,852 5,247 5,807 Total Consumer 25,788 23,271 76,583 69,427 Business Small and Medium Business 3,191 2,929 9,315 8,644 Global Enterprise 2,449 2,551 7,310 7,690 Public Sector and Other 1,531 1,548 4,587 4,807 Wholesale 656 645 1,926 2,038 Total Business 7,827 7,673 23,138 23,179 Total reportable segments $ 33,615 $ 30,944 $ 99,721 $ 92,606 Intersegment Revenues Consumer $ 52 $ 57 $ 153 $ 176 Business 10 16 34 53 Total reportable segments $ 62 $ 73 $ 187 $ 229 Total Operating Revenues Consumer $ 25,840 $ 23,328 $ 76,736 $ 69,603 Business (2) 7,837 7,689 23,172 23,232 Total reportable segments $ 33,677 $ 31,017 $ 99,908 $ 92,835 Operating Income Consumer $ 7,349 $ 7,590 $ 21,818 $ 22,606 Business 698 886 2,046 2,641 Total reportable segments $ 8,047 $ 8,476 $ 23,864 $ 25,247 (1) Other revenue includes fees that partially recover the direct and indirect costs of complying with regulatory and industry obligations and programs, revenues associated with certain products included in our device protection offerings, leasing and interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. (2) Service and other revenues included in our Business segment amounted to $6.8 billion and $6.9 billion for the three months ended September 30, 2022 and 2021, respectively, and $20.2 billion and $20.9 billion for the nine months ended September 30, 2022 and 2021, respectively. Wireless equipment revenues included in our Business segment amounted to $1.0 billion and $820 million for the three months ended September 30, 2022 and 2021, respectively, and $2.9 billion and $2.4 billion for the nine months ended September 30, 2022 and 2021, respectively. The following table provides Fios revenue for our two reportable segments: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Consumer $ 2,902 $ 2,893 $ 8,708 $ 8,648 Business 304 287 897 844 Total Fios revenue $ 3,206 $ 3,180 $ 9,605 $ 9,492 The following table provides Wireless service revenue for our reportable segments and includes intersegment activity: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Consumer $ 15,517 $ 13,982 $ 45,970 $ 41,460 Business 3,273 3,097 9,580 9,247 Total Wireless service revenue $ 18,790 $ 17,079 $ 55,550 $ 50,707 Reconciliation to Consolidated Financial Information The reconciliation of segment operating revenues and operating income to consolidated operating revenues and operating income below includes the effects of the special items that the chief operating decision maker does not consider in assessing segment performance, primarily due to their nature. A reconciliation of the reportable segment operating revenues to consolidated operating revenues is as follows: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Total reportable segment operating revenues $ 33,677 $ 31,017 $ 99,908 $ 92,835 Corporate and other 627 2,009 1,868 7,093 Eliminations (63) (111) (192) (382) Total consolidated operating revenues $ 34,241 $ 32,915 $ 101,584 $ 99,546 A reconciliation of the total reportable segment's operating income to consolidated income before provision for income taxes is as follows: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Total reportable segment operating income $ 8,047 $ 8,476 $ 23,864 $ 25,247 Corporate and other (85) 621 (299) 392 Other components of net periodic benefit charges (Note 8) (68) (192) (323) (576) Loss on spectrum licenses (Note 3) — — — (223) Total consolidated operating income 7,894 8,905 23,242 24,840 Equity in earnings of unconsolidated businesses 2 1 40 10 Other income (expense), net (439) 269 (1,314) 1,172 Interest expense (937) (801) (2,508) (2,746) Income Before Provision For Income Taxes $ 6,520 $ 8,374 $ 19,460 $ 23,276 No single customer accounted for more than 10% of our total operating revenues during the three and nine months ended September 30, 2022 or 2021. The chief operating decision maker does not review disaggregated assets on a segment basis; therefore, such information is not presented. Depreciation and amortization included in the measure of segment profitability is primarily allocated based on proportional usage, and is included within Total reportable segment operating income.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
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 20 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. During the nine months ended September 30, 2022, Verizon entered into two renewable energy purchase agreements (REPAs) with third parties. Each of the REPAs is based on the expected operation of a renewable energy-generating facility and has a fixed price term from 12 to 15 years from commencement of the facility's entry into commercial operation. The REPAs generally are expected to be financially settled based on the prevailing market price as energy is generated by the facilities.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
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, 2021. 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.
Reclassifications	Certain amounts have been reclassified to conform to the current period’s presentation.
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.
Revenues	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 (Small and Medium Business, Global Enterprise, Public Sector and Other, and Wholesale) within Business. See Note 10 for additional information on revenue by segment. Corporate and other primarily includes insurance captive revenues. 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 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 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 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.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, At December 31, Increase / (Decrease) (dollars in millions) 2022 2021 Cash and cash equivalents $ 2,082 $ 2,921 $ (839) Restricted cash: Prepaid expenses and other 1,355 1,094 261 Other assets 150 146 4 Cash, cash equivalents and restricted cash $ 3,587 $ 4,161 $ (574)
Schedule of Restricted Cash	Cash, cash equivalents and restricted cash are included in the following line items in the condensed consolidated balance sheets: At September 30, At December 31, Increase / (Decrease) (dollars in millions) 2022 2021 Cash and cash equivalents $ 2,082 $ 2,921 $ (839) Restricted cash: Prepaid expenses and other 1,355 1,094 261 Other assets 150 146 4 Cash, cash equivalents and restricted cash $ 3,587 $ 4,161 $ (574)

Revenues and Contract Costs (Ta

Revenues and Contract Costs (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table presents information about receivables from contracts with customers: At September 30, At January 1, At September 30, At January 1, (dollars in millions) 2022 2022 2021 2021 Receivables (1) $ 10,556 $ 10,758 $ 10,088 $ 12,029 Device payment plan agreement receivables (2) 14,680 12,888 11,178 10,358 (1) Balances do not include receivables related to the following contracts: leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. (2) Included in device payment plan agreement receivables presented in Note 6. Receivables derived from the sale of equipment on a device payment plan through an authorized agent are excluded. The following table presents information about contract balances: At September 30, At January 1, At September 30, At January 1, (dollars in millions) 2022 2022 2021 2021 Contract asset $ 869 $ 934 $ 878 $ 937 Contract liability (1) 7,954 7,229 6,034 5,598 (1) Revenue recognized related to contract liabilities existing at January 1, 2022 were $167 million and $4.8 billion for the three and nine months ended September 30, 2022, respectively. Revenue recognized related to contract liabilities existing at January 1, 2021 were $161 million and $4.2 billion for the three and nine months ended September 30, 2021, respectively. The balances of contract assets and contract liabilities recorded in our condensed consolidated balance sheets were as follows: At September 30, At December 31, (dollars in millions) 2022 2021 Assets Prepaid expenses and other $ 692 $ 739 Other assets 177 195 Total $ 869 $ 934 Liabilities Other current liabilities $ 6,475 $ 6,053 Other liabilities 1,479 1,176 Total $ 7,954 $ 7,229
Capitalized Contract Cost	The balances of deferred contract costs included in our condensed consolidated balance sheets were as follows: At September 30, At December 31, (dollars in millions) 2022 2021 Assets Prepaid expenses and other $ 2,572 $ 2,432 Other assets 2,362 2,259 Total $ 4,934 $ 4,691

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary allocation of the consideration paid and payable to the identified assets acquired and liabilities assumed as of the Acquisition Date. The purchase price allocation is preliminary and is subject to revision as additional information about the fair value of the assets acquired and liabilities assumed, including related deferred income taxes, become available. November 23, Measurement Period Adjustments (1) Adjusted (dollars in millions) 2021 Fair Value Consideration: Cash, net of cash acquired and working capital and other adjustments $ 3,491 $ 17 $ 3,508 Fair value of Verizon common stock (57,596,544 shares) 2,981 — 2,981 Fair value of contingent consideration to be paid 542 (2) 540 Total consideration $ 7,014 $ 15 $ 7,029 Assets acquired: Current assets $ 1,370 $ 9 $ 1,379 Property, plant and equipment, net 96 (10) 86 Goodwill 3,723 (6) 3,717 Other intangible assets 4,374 — 4,374 Other assets 731 107 838 Total assets acquired $ 10,294 $ 100 $ 10,394 Liabilities assumed: Current liabilities 1,433 67 1,500 Deferred income taxes 1,007 (48) 959 Other liabilities 840 66 906 Total liabilities assumed $ 3,280 $ 85 $ 3,365 Net assets acquired $ 7,014 $ 15 $ 7,029 (1) Adjustments to the fair value measurements reflect new information obtained about facts and circumstances that existed as of the Acquisition Date, that if known, would have affected the measurement of the amounts recognized as of that date. The most significant adjustments related to deferred income taxes and deferred commission costs.

Wireless Licenses, Goodwill a_2

Wireless Licenses, Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying Amount of Wireless Licenses	The carrying amounts of our Wireless licenses are as follows: At September 30, At December 31, (dollars in millions) 2022 2021 Wireless licenses $ 149,292 $ 147,619
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, 2022 $ 21,042 $ 7,515 $ 46 $ 28,603 Acquisitions (1) (6) — — (6) Reclassifications, adjustments and other (2) — (27) (22) (49) Balance at September 30, 2022 $ 21,036 $ 7,488 $ 24 $ 28,548 (1) The change in goodwill relates to the acquisition of TracFone. See Note 3 for additional information. (2) Includes a goodwill impairment charge of $16 million, related to an early stage development company presented within Other, recorded in Selling, general and administrative expense in our condensed consolidated statements of income for the nine months ended September 30, 2022.
Composition of Other Intangible Assets, Net	The following table displays the composition of Other intangible assets, net as well as the respective amortization periods: At September 30, 2022 At December 31, 2021 (dollars in millions) Gross Accumulated Net Gross Accumulated Net Customer lists (5 to 13 years) $ 4,185 $ (1,571) $ 2,614 $ 4,201 $ (1,126) $ 3,075 Non-network internal-use software (7 years) 22,644 (16,017) 6,627 21,310 (14,897) 6,413 Other (4 to 25 years) 2,996 (1,041) 1,955 2,974 (785) 2,189 Total $ 29,825 $ (18,629) $ 11,196 $ 28,485 $ (16,808) $ 11,677
Amortization Expense for Other Intangible Assets	The amortization expense for Other intangible assets was as follows: Three Months Ended Nine Months Ended (dollars in millions) September 30, September 30, 2022 $ 658 $ 1,944 2021 430 1,539
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 2022 $ 652 2023 2,468 2024 2,178 2025 1,993 2026 1,734 2027 1,033

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt Transactions	The following tables show the significant transactions involving the senior unsecured debt securities of Verizon and its subsidiaries that occurred during the three and nine months ended September 30, 2022. Tender Offers (dollars in millions) Principal Amount Purchased Cash Consideration (1) Three Months Ended March 31, 2022 Verizon and subsidiary 2.987% - 8.950% notes and debentures, due 2032 - 2056 $ 5,032 $ 5,587 Three Months Ended March 31, 2022 total 5,032 5,587 Nine Months Ended September 30, 2022 total $ 5,032 $ 5,587 (1) The total cash consideration includes the tender offer consideration, plus any accrued and unpaid interest to the date of purchase. Repayments and Repurchases (dollars in millions) Principal Repaid/ Repurchased Amount Paid (1) Three Months Ended March 31, 2022 Verizon floating rate (London Inter-Bank Offered Rate + 1.000%) notes due 2022 $ 1,094 $ 1,097 Three Months Ended March 31, 2022 total 1,094 1,097 Three Months Ended June 30, 2022 Subsidiary 8.000% debentures due 2022 103 108 Open market repurchases of various Verizon notes 359 307 Three Months Ended June 30, 2022 total 462 415 Three Months Ended September 30, 2022 Open market repurchases of various Verizon notes 260 211 Three Months Ended September 30, 2022 total 260 211 Nine Months Ended September 30, 2022 total $ 1,816 $ 1,723 (1) Represents amount paid to repay or repurchase, including any accrued interest. Issuances (dollars in millions) Principal Amount Issued Net Proceeds (1) Three Months Ended March 31, 2022 Verizon 3.875% notes due 2052 (2) $ 1,000 $ 982 Verizon 4.100% notes due 2055 655 650 Three Months Ended March 31, 2022 total 1,655 1,632 Nine Months Ended September 30, 2022 total $ 1,655 $ 1,632 (1) Net proceeds were net of underwriting discounts and other issuance costs. (2) An amount equal to the net proceeds from this green bond is expected to be used to fund, in whole or in part, certain renewable energy projects, including new and existing investments made by us during the period from December 1, 2021 through the maturity date of the green bond. During the nine months ended September 30, 2022 , we completed the following ABS Notes transactions: (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued January 2022 Series 2022-1 A Senior class notes 1.040 1.49 $ 799 B Junior class notes 1.270 1.49 64 C Junior class notes 1.390 1.49 37 Series 2022-2 A Senior class notes 1.530 2.99 710 B Junior class notes 1.830 2.99 57 C Junior class notes 2.010 2.99 33 January 2022 total 1,700 May 2022 Series 2022-3 A Senior class notes 3.010 1.49 400 B Junior class notes 3.250 1.49 — C Junior class notes 3.500 1.49 16 Series 2022-4 A Senior class notes 3.400 2.99 488 B Junior class notes 3.640 2.99 42 C Junior class notes 3.890 2.99 20 May 2022 total 966 August 2022 Series 2022-5 A-1a Senior fixed rate class notes 3.720 1.44 351 A-1b Senior floating rate class notes Compounded SOFR + 0.620 (1) 1.44 57 B Junior class notes 3.960 1.44 — C Junior class notes 4.210 1.44 — Series 2022-6 A Senior class notes 3.670 2.94 479 B Junior class notes 3.910 2.94 — C Junior class notes 4.160 2.94 — August 2022 total 887 Total $ 3,553 (1) Compounded Secured Overnight Financing Rate (SOFR) is calculated using SOFR as published by the Federal Reserve Bank of New York in accordance with the terms of such notes. Compounded SOFR for the interest period ending in September 2022 was 2.285%.
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 September 30, At December 31, (dollars in millions) 2022 2021 Assets Accounts receivable, net $ 11,312 $ 10,705 Prepaid expenses and other 1,357 1,094 Other assets 8,359 5,455 Liabilities Accounts payable and accrued liabilities 8 10 Debt maturing within one year 6,587 5,024 Long-term debt 9,923 9,178
Schedule of Line of Credit Facilities	Long-Term Credit Facilities At September 30, 2022 (dollars in millions) Maturities Facility Capacity Unused Capacity Principal Amount Outstanding Verizon revolving credit facility (1) 2026 $ 9,500 $ 9,434 N/A Various export credit facilities (2) 2024 - 2031 11,000 1,000 $ 7,000 Total $ 20,500 $ 10,434 $ 7,000 N/A - not applicable (1) The revolving credit facility does not require us to comply with financial covenants or maintain specified credit ratings, and it permits us to borrow even if our business has incurred a material adverse change. The revolving credit facility provides for the issuance of letters of credit. (2) During the nine months ended September 30, 2022 and 2021, we drew down $3.0 billion and $470 million , respectively, from these facilities. These credit facilities are used to finance equipment-related purchases. Borrowings under certain of these facilities amortize semi-annually in equal installments up to the applicable maturity dates. Maturities reflect maturity dates of principal amounts outstanding. Any amounts borrowed under these facilities and subsequently repaid cannot be reborrowed.

Device Payment Plan and Wireles

Device Payment Plan and Wireless Service Receivables (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Schedule of Receivables, Net	The following table presents information about accounts receivable, net of allowances, recorded in our condensed consolidated balance sheets: At September 30, 2022 (dollars in millions) Device payment plan agreement Wireless Other receivables (1) Total Accounts receivable $ 13,281 $ 5,141 $ 6,053 $ 24,475 Less Allowance for credit losses 455 114 236 805 Accounts receivable, net of allowance $ 12,826 $ 5,027 $ 5,817 $ 23,670 (1) Other receivables primarily include wireline receivables and other receivables, the allowances for which are individually insignificant. The following table displays device payment plan agreement receivables, net, recognized in our condensed consolidated balance sheets: At September 30, At December 31, (dollars in millions) 2022 2021 Device payment plan agreement receivables, gross $ 24,185 $ 21,303 Unamortized imputed interest (386) (358) Device payment plan agreement receivables, at amortized cost 23,799 20,945 Allowance (1) (772) (759) Device payment plan agreement receivables, net $ 23,027 $ 20,186 Classified in our condensed consolidated balance sheets: Accounts receivable, net $ 12,826 $ 12,783 Other assets 10,201 7,403 Device payment plan agreement receivables, net $ 23,027 $ 20,186
Financing Receivable Credit Quality Indicators	The following table presents device payment plan agreement receivables, at amortized cost, as of September 30, 2022, by credit quality indicator and year of origination: Year of Origination (1) (dollars in millions) 2022 2021 Prior to 2021 Total New customers $ 1,993 $ 1,273 $ 82 $ 3,348 Existing customers 12,299 7,608 544 20,451 Total $ 14,292 $ 8,881 $ 626 $ 23,799 (1) Includes accounts that have been suspended at a point in time.
Activity in Allowance for Credit Losses for Device Payment Plan Agreement Receivables	Activity in the allowance for credit losses by portfolio segment of receivables was as follows: (dollars in millions) Device Payment Plan Agreement Receivables (1) Wireless Service Plan Receivables Balance at January 1, 2022 $ 759 $ 130 Current period provision for expected credit losses 606 275 Write-offs charged against the allowance (619) (324) Recoveries collected 26 33 Balance at September 30, 2022 $ 772 $ 114 (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 September 30, (dollars in millions) 2022 Unbilled $ 22,567 Billed: Current 1,022 Past due 210 Device payment plan agreement receivables, at amortized cost $ 23,799

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Prepaid expenses and other: Fixed income securities $ — $ 32 $ — $ 32 Cross currency swaps — 1 — 1 Interest rate caps — 33 — 33 Other assets: Fixed income securities — 341 — 341 Cross currency swaps — 53 — 53 Interest rate caps — 11 — 11 Total $ — $ 471 $ — $ 471 Liabilities: Other current liabilities: Interest rate swaps $ — $ 704 $ — $ 704 Foreign exchange forwards — 10 — 10 Cross currency swaps — 346 — 346 Interest rate caps — 32 — 32 Contingent consideration — — 313 313 Other liabilities: Interest rate swaps — 3,850 — 3,850 Cross currency swaps — 5,190 — 5,190 Interest rate caps — 10 — 10 Contingent consideration — — 114 114 Total $ — $ 10,142 $ 427 $ 10,569 (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. The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2021: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Prepaid expenses and other: Fixed income securities $ — $ 18 $ — $ 18 Interest rate swaps — 188 — 188 Cross currency swaps — 9 — 9 Foreign exchange forwards — 12 — 12 Other assets: Fixed income securities — 391 — 391 Interest rate swaps — 285 — 285 Cross currency swaps — 580 — 580 Interest rate caps — 44 — 44 Total $ — $ 1,527 $ — $ 1,527 Liabilities: Other current liabilities: Interest rate swaps $ — $ 1 $ — $ 1 Forward starting interest rate swaps — 302 — 302 Cross currency swaps — 218 — 218 Contingent consideration — — 231 231 Other liabilities: Interest rate swaps — 665 — 665 Cross currency swaps — 1,406 — 1,406 Interest rate caps — 44 — 44 Contingent consideration — — 313 313 Total $ — $ 2,636 $ 544 $ 3,180 (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 Level 1 Level 2 Level 3 Total At December 31, 2021 $ 149,543 $ 106,599 $ 62,606 $ — $ 169,205 At September 30, 2022 146,326 82,250 51,393 — 133,643
Notional Amounts of Outstanding Derivative Instruments	The following table sets forth the notional amounts of our outstanding derivative instruments: At September 30, At December 31, (dollars in millions) 2022 2021 Interest rate swaps $ 26,071 $ 19,779 Cross currency swaps 32,502 32,502 Forward starting interest rate swaps — 1,000 Foreign exchange forwards 940 932
Schedule Of Derivative Instruments Activity	The following tables summarize the activities of our designated derivatives: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Interest Rate Swaps: Notional value entered into $ — $ — $ 7,155 $ 2,550 Notional value settled — 851 863 3,540 Pre-tax gain recognized in Interest expense 2 — 2 1 Cross Currency Swaps: Notional value entered into — — — 6,214 Notional value settled — — — — Pre-tax loss recognized in Other comprehensive loss (1) N/A (1,057) (430) (1,984) Pre-tax loss on cross currency swaps recognized in Interest expense (2,039) N/A (3,847) N/A Pre-tax gain on hedged debt recognized in Interest expense 2,039 N/A 3,847 N/A Excluded components recognized in Other comprehensive loss 169 N/A (171) N/A Initial value of the excluded component amortized into Interest expense 27 N/A 54 N/A Forward Starting Interest Rate Swaps: Notional value entered into — — — — Notional value settled — — 1,000 1,000 Pre-tax gain recognized in Other comprehensive loss — — 196 279 Treasury Rate Locks: Notional value entered into — — — 4,650 Notional value settled — — — 4,650 Pre-tax gain recognized in Other comprehensive loss — — — 251 N/A - not applicable (1) Represents amounts recorded under the cash flow hedge model. These instruments were re-designated as fair value hedges on March 31, 2022. Nine Months Ended September 30, (dollars in millions) 2022 2021 Other, net Cash Flows from Operating Activities: Cash received for settlement of interest rate swaps $ 40 $ 110 Cash paid for settlement of forward starting interest rate swaps (107) (237) Cash received for settlement of treasury rate locks — 251 The following table summarizes the activity of our derivatives not designated in hedging relationships: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Foreign Exchange Forwards: Notional value entered into $ 2,642 $ 2,745 $ 8,144 $ 9,970 Notional value settled 2,703 3,365 8,136 10,505 Pre-tax loss recognized in Other income (expense), net (75) (29) (169) (51) Swaptions: Notional value sold — 1,000 1,000 1,000 Notional value settled — — 1,000 — Pre-tax loss recognized in Interest expense — — (33) —
Schedule of Cumulative Basis Adjustments for Fair Value hedges	The following table displays the amounts recorded in Long-term debt in our condensed consolidated balance sheets related to cumulative basis adjustments for fair value hedges. The cumulative amounts exclude cumulative basis adjustments related to foreign exchange risk. At September 30, At December 31, (dollars in millions) 2022 2021 Carrying amount of hedged liabilities $ 21,836 $ 20,027 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (4,432) (113) Cumulative amount of fair value hedging adjustment remaining for which hedge accounting has been discontinued 510 575

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 2021 2022 2021 Service cost - Cost of services $ 52 $ 59 $ 20 $ 24 Service cost - Selling, general and administrative expense 7 8 4 4 Service cost $ 59 $ 67 $ 24 $ 28 Amortization of prior service cost (credit) $ 24 $ 16 $ (106) $ (223) Expected return on plan assets (274) (309) (6) (6) Interest cost 151 102 83 72 Remeasurement loss, net 645 144 — — Other components $ 546 $ (47) $ (29) $ (157) Total $ 605 $ 20 $ (5) $ (129) (dollars in millions) Pension Health Care and Life Nine Months Ended September 30, 2022 2021 2022 2021 Service cost - Cost of services $ 168 $ 186 $ 60 $ 71 Service cost - Selling, general and administrative expense 23 26 11 14 Service cost $ 191 $ 212 $ 71 $ 85 Amortization of prior service cost (credit) $ 54 $ 46 $ (419) $ (670) Expected return on plan assets (865) (927) (20) (17) Interest cost 375 296 249 217 Remeasurement loss (gain), net 843 (1,170) — — Other components $ 407 $ (1,755) $ (190) $ (470) Total $ 598 $ (1,543) $ (119) $ (385)

Equity and Accumulated Other _2

Equity and Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 2021 Shares Amount Shares Amount Common Stock Balance at beginning of period 4,291,434 $ 429 4,291,434 $ 429 Balance at end of period 4,291,434 429 4,291,434 429 Additional Paid In Capital Balance at beginning of period 13,872 13,403 Other (1) (405) (1) Balance at end of period 13,467 13,402 Retained Earnings Balance at beginning of period 76,401 66,310 Net income attributable to Verizon 4,900 6,407 Dividends declared ($0.6525, $0.6400 per share) (2,741) (2,651) Other (15) (4) Balance at end of period 78,545 70,062 Accumulated Other Comprehensive Loss Balance at beginning of period attributable to Verizon (1,320) (234) Foreign currency translation adjustments (120) (146) Unrealized gain (loss) on cash flow hedges 22 (174) Unrealized gain on fair value hedges 105 — Unrealized loss on marketable securities (8) — Defined benefit pension and postretirement plans (379) (155) Other comprehensive loss (380) (475) Balance at end of period attributable to Verizon (1,700) (709) Treasury Stock Balance at beginning of period (91,719) (4,020) (151,318) (6,632) Employee plans 103 5 48 2 Balance at end of period (91,616) (4,015) (151,270) (6,630) Deferred Compensation-ESOPs and Other Balance at beginning of period 654 408 Restricted stock equity grant 98 85 Amortization (10) (3) Balance at end of period 742 490 Noncontrolling Interests Balance at beginning of period 1,341 1,428 Total comprehensive income 124 147 Distributions and other (1) (150) (130) Balance at end of period 1,315 1,445 Total Equity $ 88,783 $ 78,489 (1) 2022 period includes adjustments related to the acquisition of additional interests in certain controlled wireless partnerships. (dollars in millions, except per share amounts, and shares in thousands) Nine months ended September 30, 2022 2021 Shares Amount Shares Amount Common Stock Balance at beginning of period 4,291,434 $ 429 4,291,434 $ 429 Balance at end of period 4,291,434 429 4,291,434 429 Additional Paid In Capital Balance at beginning of period 13,861 13,404 Other (1) (394) (2) Balance at end of period 13,467 13,402 Retained Earnings Balance at beginning of period 71,993 60,464 Net income attributable to Verizon 14,679 17,452 Dividends declared ($1.9325, $1.8950 per share) (8,120) (7,850) Other (7) (4) Balance at end of period 78,545 70,062 Accumulated Other Comprehensive Loss Balance at beginning of period attributable to Verizon (927) (71) Foreign currency translation adjustments (285) (126) Unrealized gain (loss) on cash flow hedges 301 (42) Unrealized loss on fair value hedges (167) — Unrealized loss on marketable securities (32) (5) Defined benefit pension and postretirement plans (590) (465) Other comprehensive loss (773) (638) Balance at end of period attributable to Verizon (1,700) (709) Treasury Stock Balance at beginning of period (93,635) (4,104) (153,304) (6,719) Employee plans 2,016 89 2,031 89 Shareholder plans 3 — 3 — Balance at end of period (91,616) (4,015) (151,270) (6,630) Deferred Compensation-ESOPs and Other Balance at beginning of period 538 335 Restricted stock equity grant 368 315 Amortization (164) (160) Balance at end of period 742 490 Noncontrolling Interests Balance at beginning of period 1,410 1,430 Total comprehensive income 371 429 Distributions and other (1) (466) (414) Balance at end of period 1,315 1,445 Total Equity $ 88,783 $ 78,489 (1) 2022 period includes adjustments related to the acquisition of additional interests in certain controlled wireless partnerships.
Schedule of Components in Accumulated Other Comprehensive Income	The changes in the balances of Accumulated other comprehensive loss by component were as follows: (dollars in millions) Foreign Unrealized gain (loss) on cash flow hedges Unrealized loss on fair value hedges Unrealized gain (loss) on marketable securities Defined benefit pension and postretirement plans Total Balance at January 1, 2022 $ (545) $ (1,472) $ — $ 16 $ 1,074 $ (927) Excluded components recognized in other comprehensive income — — (127) — — (127) Other comprehensive loss (285) (174) — (32) (317) (808) Amounts reclassified to net income — 475 (40) — (273) 162 Net other comprehensive income (loss) (285) 301 (167) (32) (590) (773) Balance at September 30, 2022 $ (830) $ (1,171) $ (167) $ (16) $ 484 $ (1,700)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Operating Information	Our segments and their principal activities consist of the following: Segment Description Verizon 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, TracFone brands and through wholesale and other arrangements. We also provide fixed wireless access (FWA) broadband through our wireless networks. 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 through our Verizon Fios product portfolio 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, including data, video and conferencing 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 also provide FWA broadband through our wireless networks. 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. The following table provides operating financial information for our two reportable segments: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 External Operating Revenues Consumer Service $ 18,421 $ 16,889 $ 54,696 $ 50,159 Wireless equipment 5,558 4,530 16,640 13,461 Other (1) 1,809 1,852 5,247 5,807 Total Consumer 25,788 23,271 76,583 69,427 Business Small and Medium Business 3,191 2,929 9,315 8,644 Global Enterprise 2,449 2,551 7,310 7,690 Public Sector and Other 1,531 1,548 4,587 4,807 Wholesale 656 645 1,926 2,038 Total Business 7,827 7,673 23,138 23,179 Total reportable segments $ 33,615 $ 30,944 $ 99,721 $ 92,606 Intersegment Revenues Consumer $ 52 $ 57 $ 153 $ 176 Business 10 16 34 53 Total reportable segments $ 62 $ 73 $ 187 $ 229 Total Operating Revenues Consumer $ 25,840 $ 23,328 $ 76,736 $ 69,603 Business (2) 7,837 7,689 23,172 23,232 Total reportable segments $ 33,677 $ 31,017 $ 99,908 $ 92,835 Operating Income Consumer $ 7,349 $ 7,590 $ 21,818 $ 22,606 Business 698 886 2,046 2,641 Total reportable segments $ 8,047 $ 8,476 $ 23,864 $ 25,247 (1) Other revenue includes fees that partially recover the direct and indirect costs of complying with regulatory and industry obligations and programs, revenues associated with certain products included in our device protection offerings, leasing and interest on equipment financed under a device payment plan agreement when sold to the customer by an authorized agent. (2) Service and other revenues included in our Business segment amounted to $6.8 billion and $6.9 billion for the three months ended September 30, 2022 and 2021, respectively, and $20.2 billion and $20.9 billion for the nine months ended September 30, 2022 and 2021, respectively. Wireless equipment revenues included in our Business segment amounted to $1.0 billion and $820 million for the three months ended September 30, 2022 and 2021, respectively, and $2.9 billion and $2.4 billion for the nine months ended September 30, 2022 and 2021, respectively. The following table provides Fios revenue for our two reportable segments: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Consumer $ 2,902 $ 2,893 $ 8,708 $ 8,648 Business 304 287 897 844 Total Fios revenue $ 3,206 $ 3,180 $ 9,605 $ 9,492 The following table provides Wireless service revenue for our reportable segments and includes intersegment activity: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Consumer $ 15,517 $ 13,982 $ 45,970 $ 41,460 Business 3,273 3,097 9,580 9,247 Total Wireless service revenue $ 18,790 $ 17,079 $ 55,550 $ 50,707
Summary of Reconciliation of Segment Operating Revenues	A reconciliation of the reportable segment operating revenues to consolidated operating revenues is as follows: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Total reportable segment operating revenues $ 33,677 $ 31,017 $ 99,908 $ 92,835 Corporate and other 627 2,009 1,868 7,093 Eliminations (63) (111) (192) (382) Total consolidated operating revenues $ 34,241 $ 32,915 $ 101,584 $ 99,546
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 Nine Months Ended September 30, September 30, (dollars in millions) 2022 2021 2022 2021 Total reportable segment operating income $ 8,047 $ 8,476 $ 23,864 $ 25,247 Corporate and other (85) 621 (299) 392 Other components of net periodic benefit charges (Note 8) (68) (192) (323) (576) Loss on spectrum licenses (Note 3) — — — (223) Total consolidated operating income 7,894 8,905 23,242 24,840 Equity in earnings of unconsolidated businesses 2 1 40 10 Other income (expense), net (439) 269 (1,314) 1,172 Interest expense (937) (801) (2,508) (2,746) Income Before Provision For Income Taxes $ 6,520 $ 8,374 $ 19,460 $ 23,276

Basis of Presentation - Earning

Basis of Presentation - Earnings Per Common Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Dilutive securities (in shares)	1.6	1.6	1.5	1.7

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 2,082		$ 2,921
Cash, cash equivalents and restricted cash	3,587	$ 11,111	4,161	$ 23,498
Increase/(Decrease) in cash, cash equivalents, restricted cash and assets held for sale	(574)	$ (12,387)
Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Increase/(Decrease) in cash, cash equivalents, restricted cash and assets held for sale	(839)
Prepaid expenses and other
Cash and Cash Equivalents [Line Items]
Restricted cash	1,355		1,094
Increase/(Decrease) in cash, cash equivalents, restricted cash and assets held for sale	261
Other assets
Cash and Cash Equivalents [Line Items]
Restricted cash	150		$ 146
Increase/(Decrease) in cash, cash equivalents, restricted cash and assets held for sale	$ 4

Revenues and Contract Costs - A

Revenues and Contract Costs - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments | segment			2
Revenue from arrangements not accounted for under Topic 606	$ 774,000,000	$ 803,000,000	$ 2,400,000,000	$ 2,300,000,000
Amortization of deferred contract costs	735,000,000	751,000,000	2,200,000,000	2,300,000,000
Contract assets impairment charge	$ 0	$ 0	$ 0	$ 0
Wireless postpaid contracts
Disaggregation of Revenue [Line Items]
Percentage of month-to-month contracts of total service contracts	94%	93%	94%	93%
Wireline Consumer and Small and Medium Business contracts
Disaggregation of Revenue [Line Items]
Percentage of month-to-month contracts of total service contracts	90%	83%	90%	83%
Minimum
Disaggregation of Revenue [Line Items]
Deferred contract cost, amortization period	2 years		2 years
Minimum | Wireless Service, Option One
Disaggregation of Revenue [Line Items]
Customer contracts service term			1 month
Minimum | Wireless Service, Option Two
Disaggregation of Revenue [Line Items]
Customer contracts service term			1 month
Minimum | Consumer
Disaggregation of Revenue [Line Items]
Customer contracts service term			12 months
Minimum | Consumer | Reseller Arrangements
Disaggregation of Revenue [Line Items]
Customer contracts service term			2 years
Maximum
Disaggregation of Revenue [Line Items]
Deferred contract cost, amortization period	6 years		6 years
Maximum | Wireless Service, Option One
Disaggregation of Revenue [Line Items]
Customer contracts service term			36 months
Maximum | Wireless Service, Option Two
Disaggregation of Revenue [Line Items]
Customer contracts service term			24 months
Maximum | Consumer
Disaggregation of Revenue [Line Items]
Customer contracts service term			2 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	Sep. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 5.9
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 18.3
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 15.2
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]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1.8
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 years

Revenues and Contract Costs - S

Revenues and Contract Costs - Schedule of Receivables from Contracts with Customers (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jan. 01, 2022	Sep. 30, 2021	Jan. 01, 2021
Revenue from Contract with Customer [Abstract]
Receivables	$ 10,556	$ 10,758	$ 10,088	$ 12,029
Device payment plan agreement receivables	$ 14,680	$ 12,888	$ 11,178	$ 10,358

Revenues and Contract Costs - C

Revenues and Contract Costs - Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jan. 01, 2022	Dec. 31, 2021	Jan. 01, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized related to contract liabilities existing	$ (167)	$ (161)	$ (4,800)	$ (4,200)
Contract asset, current	692		692			$ 739
Contract asset, noncurrent	177		177			195
Contract asset	869	878	869	878	$ 934	934	$ 937
Contract liability, current	6,475		6,475			6,053
Contract liability, noncurrent	1,479		1,479			1,176
Contract liability	$ 7,954	$ 6,034	$ 7,954	$ 6,034	$ 7,229	$ 7,229	$ 5,598

Revenues and Contract Costs -_2

Revenues and Contract Costs - Schedule of Cost Incurred to Obtain or Fulfill Contracts with Customers (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Capitalized Contract Cost [Line Items]
Cost incurred to obtain or fulfill contracts with customers, current	$ 2,572	$ 2,432
Cost incurred to obtain or fulfill contracts with customers, noncurrent	2,362	2,259
Cost incurred to obtain or fulfill contracts with customers	$ 4,934	$ 4,691

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisitions (Details) $ in Millions		1 Months Ended				3 Months Ended			9 Months Ended		12 Months Ended
	Nov. 23, 2021 USD ($) shares	Aug. 31, 2022 USD ($)	May 31, 2022 USD ($)	Mar. 31, 2021 USD ($) county customer	Feb. 28, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Payments for deposits									$ 2,890	$ 47,027
Loss on disposition of licenses, pre-tax						$ 0	$ 0		0	223
Business acquisition, purchase price in cash									(248)	459
Spectrum licenses | Spectrum Licenses, C-Band
Business Acquisition [Line Items]
Payments for deposits								$ 44,600			$ 45,500
Estimated clearing and incentive costs					$ 7,700
Costs incurred for license agreements acquired						115			279
Spectrum licenses | Spectrum Licenses, C-Band | Projected Clearing Costs
Business Acquisition [Line Items]
Payments for deposits						196			$ 1,600		1,300
Accrued clearing incentives and clearing costs											$ 1,400
Various Other Wireless Licenses | Spectrum licenses
Business Acquisition [Line Items]
Loss on disposition of licenses, pre-tax										223
Loss on disposition of licenses										$ 167
TracFone Wireless, Inc.
Business Acquisition [Line Items]
Business acquisition, purchase price in cash	$ 3,491
Number of shares issuable (in shares) | shares	57,596,544
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 2,981
Future cash consideration related to achievement of certain performance measures	650
Estimated fair value of the contingent consideration	$ 540
Contingent consideration, earn out period	2 years
Cash proceeds from acquisition			$ 248
Contingent consideration payment		$ 113				$ 113
Other intangible assets	$ 4,374
Contingent liability	837
Indemnification assets	837
Business acquisition consideration	7,014
TracFone Wireless, Inc. | Customer Relationships
Business Acquisition [Line Items]
Other intangible assets	2,300
TracFone Wireless, Inc. | Distribution Relationships
Business Acquisition [Line Items]
Other intangible assets	1,300
TracFone Wireless, Inc. | Trade Names
Business Acquisition [Line Items]
Other intangible assets	744
TracFone Wireless, Inc. | Acquired Technology
Business Acquisition [Line Items]
Other intangible assets	$ 110
Bluegrass Cellular, Certain Assets
Business Acquisition [Line Items]
Number of customers | customer				210,000
Number of counties customers are serviced | county				34
Business acquisition consideration				$ 412

Acquisitions and Divestitures_2

Acquisitions and Divestitures - TracFone Wireless, Inc. (Details) - USD ($) $ in Millions		9 Months Ended
	Nov. 23, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash, net of cash acquired and working capital and other adjustments		$ (248)	$ 459
Assets acquired:
Goodwill		28,548		$ 28,603
Measurement period adjustment, goodwill		$ (6)
TracFone Wireless, Inc.
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash, net of cash acquired and working capital and other adjustments	$ 3,491
Measurement period adjustment, cash, net of cash acquired	17
Fair value of Verizon common stock (57,596,544 shares)	2,981
Measurement period adjustment, fair value of Verizon common stock	0
Fair value of contingent consideration to be paid	542
Measurement period adjustment, fair value of contingent consideration to be paid	(2)
Total consideration	7,014
Measurement period adjustment, total consideration	15
Assets acquired:
Current assets	1,370
Measurement period adjustment, current assets	9
Property, plant and equipment, net	96
Measurement period adjustment, property, plant, ,and equipment	(10)
Goodwill	3,723
Measurement period adjustment, goodwill	(6)
Other intangible assets	4,374
Measurement period adjustment, other intangible assets	0
Other assets	731
Measurement period adjustment, other assets	107
Total assets acquired	10,294
Measurement period adjustment, total assets acquired	100
Liabilities assumed:
Current liabilities	1,433
Measurement period adjustment, current liabilities	67
Deferred income taxes	1,007
Measurement period adjustment, deferred income taxes	(48)
Other liabilities	840
Measurement period adjustment, other liabilities	66
Total liabilities assumed	3,280
Measurement period adjustment, total liabilities assumed	85
Net assets acquired	7,014
Measurement period adjustment, net assets acquired	$ 15
Number of shares issuable (in shares)	57,596,544
TracFone Wireless, Inc. | Adjusted Fair Value
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash, net of cash acquired and working capital and other adjustments	$ 3,508
Fair value of Verizon common stock (57,596,544 shares)	2,981
Fair value of contingent consideration to be paid	540
Total consideration	7,029
Assets acquired:
Current assets	1,379
Property, plant and equipment, net	86
Goodwill	3,717
Other intangible assets	4,374
Other assets	838
Total assets acquired	10,394
Liabilities assumed:
Current liabilities	1,500
Deferred income taxes	959
Other liabilities	906
Total liabilities assumed	3,365
Net assets acquired	$ 7,029

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Verizon Media (Details) - Discontinued Operations, Disposed of by Sale - USD ($) $ in Millions			3 Months Ended	9 Months Ended
	Sep. 01, 2021	May 02, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2022	Sep. 28, 2021
Media Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue from contract with customer			$ 1,400	$ 5,300
Media Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal costs			346	346
Media Business | Common Limited Partnership Units
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest after disposal	10%
Media Business | Apollo Global Management Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration	$ 4,300	$ 4,300
Pre-tax gain on sale			1,100	1,100
After-tax gain on sale			$ 1,100	$ 1,100
Administrative services support period	12 months
Technical services support period	18 months
Media Business | Apollo Global Management Inc. | Preferred Limited Partnership Units
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration, limited partnership units	$ 496	$ 750			$ 396
Limited partnership units redeemed						$ 100
Media Business | Apollo Global Management Inc. | Common Limited Partnership Units
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration, limited partnership units	$ 124
Ownership interest after disposal		10%

Wireless Licenses, Goodwill a_3

Wireless Licenses, Goodwill and Other Intangible Assets - Carrying Amount of Wireless Licenses (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Wireless licenses	$ 149,292	$ 147,619

Wireless Licenses, Goodwill a_4

Wireless Licenses, Goodwill and Other Intangible Assets - Additional Information (Detail) - Wireless Licenses - USD ($) $ in Billions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Indefinite-lived Intangible Assets [Line Items]
Wireless licenses under development	$ 45.4	$ 54.8
Interest costs capitalized	$ 1.3	$ 1.1
Average remaining renewal period of wireless license portfolio (in years)	15 years

Wireless Licenses, Goodwill a_5

Wireless Licenses, Goodwill and Other Intangible Assets - Changes in Carrying Value of Goodwill (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 28,603
Acquisitions	(6)
Reclassifications, adjustments and other	(49)
Ending balance	28,548
Goodwill, impairment charge	16
Operating Segments | Consumer
Goodwill [Roll Forward]
Beginning balance	21,042
Acquisitions	(6)
Reclassifications, adjustments and other	0
Ending balance	21,036
Operating Segments | Business
Goodwill [Roll Forward]
Beginning balance	7,515
Acquisitions	0
Reclassifications, adjustments and other	(27)
Ending balance	7,488
Other
Goodwill [Roll Forward]
Beginning balance	46
Acquisitions	0
Reclassifications, adjustments and other	(22)
Ending balance	$ 24

Wireless Licenses, Goodwill a_6

Wireless Licenses, Goodwill and Other Intangible Assets - Composition of Other Intangible Assets, Net (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 29,825	$ 28,485
Accumulated Amortization	(18,629)	(16,808)
Net Amount	11,196	11,677
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Gross Amount	4,185	4,201
Accumulated Amortization	(1,571)	(1,126)
Net Amount	$ 2,614	3,075
Customer Lists | Minimum
Finite-Lived Intangible Assets [Line Items]
Other intangible asset, useful life	5 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]
Other intangible asset, useful life	7 years
Gross Amount	$ 22,644	21,310
Accumulated Amortization	(16,017)	(14,897)
Net Amount	6,627	6,413
Other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	2,996	2,974
Accumulated Amortization	(1,041)	(785)
Net Amount	$ 1,955	$ 2,189
Other | Minimum
Finite-Lived Intangible Assets [Line Items]
Other intangible asset, useful life	4 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for other intangible assets	$ 658	$ 430	$ 1,944	$ 1,539
Remainder of 2022	652		652
2023	2,468		2,468
2024	2,178		2,178
2025	1,993		1,993
2026	1,734		1,734
2027	$ 1,033		$ 1,033

Debt - Schedule of Senior Unsec

Debt - Schedule of Senior Unsecured Debt Securities (Details) - Debt Tender Offers - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2022
Debt Instrument [Line Items]
Principal Amount Purchased	$ 5,032	$ 5,032
Cash consideration	5,587	$ 5,587
Verizon and subsidiary 2.987% - 8.950% notes and debentures, due 2032 - 2056
Debt Instrument [Line Items]
Principal Amount Purchased	5,032
Cash consideration	$ 5,587
Minimum | Verizon and subsidiary 2.987% - 8.950% notes and debentures, due 2032 - 2056
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.987%
Maximum | Verizon and subsidiary 2.987% - 8.950% notes and debentures, due 2032 - 2056
Debt Instrument [Line Items]
Stated interest rate on debt instrument	8.95%

Debt - Repayments, Redemptions

Debt - Repayments, Redemptions and Repurchases (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2022
Debt Instrument [Line Items]
Principal Repaid/ Repurchased	$ 1,816		$ 1,094	$ 1,816
Amount Paid	211	$ 415	$ 1,097	1,723
Floating Rate, LIBOR plus 1.000%
Debt Instrument [Line Items]
Basis spread on variable rate			1%
Principal Repaid/ Repurchased			$ 1,094
Amount Paid			$ 1,097
Operating Telephone Company Subsidiary 8.000% Debentures Due 2022 And Various Verizon Notes Of Open Market Repurchase
Debt Instrument [Line Items]
Principal Repaid/ Repurchased		$ 462
Subsidiary 8.000% debentures due 2022
Debt Instrument [Line Items]
Stated interest rate on debt instrument		8%
Principal Repaid/ Repurchased		$ 103
Amount Paid		108
Open market repurchases of various Verizon notes
Debt Instrument [Line Items]
Principal Repaid/ Repurchased	260	359		$ 260
Amount Paid	$ 211	$ 307

Debt - Debt Issuances (Details)

Debt - Debt Issuances (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2022
Senior Notes
Debt Instrument [Line Items]
Principal Amount Issued	$ 1,655	$ 1,655
Net Proceeds	$ 1,632	$ 1,632
Verizon 3.875% notes due 2052
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.875%
Verizon 3.875% notes due 2052 | Senior Notes
Debt Instrument [Line Items]
Principal Amount Issued	$ 1,000
Net Proceeds	$ 982
Verizon 4.100% notes due 2055
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.10%
Verizon 4.100% notes due 2055 | Senior Notes
Debt Instrument [Line Items]
Principal Amount Issued	$ 655
Net Proceeds	$ 650

Debt - Short-Term Borrowings an

Debt - Short-Term Borrowings and Commercial Paper Program (Details) - USD ($)	1 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2022
Short-term Debt [Line Items]
Facility Capacity		$ 20,500,000,000
Principal Amount Outstanding		7,000,000,000
Line of Credit
Short-term Debt [Line Items]
Facility Capacity	$ 1,000,000,000
Amount drawn from credit facilities	$ 1,000,000,000
Principal Amount Outstanding		1,000,000,000
Commercial Paper
Short-term Debt [Line Items]
Commercial paper issued		26,500,000,000
Repayments of short-term debt		21,900,000,000
Commercial paper		$ 4,600,000,000

Debt - Asset-Backed Debt Narrat

Debt - Asset-Backed Debt Narrative (Detail) $ in Millions	1 Months Ended						3 Months Ended			9 Months Ended
	Oct. 25, 2022 USD ($)	Jun. 30, 2022 USD ($)	May 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jan. 31, 2022 USD ($)	Dec. 31, 2021 agreement	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
Repayments of debt							$ 211	$ 415	$ 1,097	$ 1,723
Asset-Backed Debt
Debt Instrument [Line Items]
Secured debt, carrying value							16,500			16,500
2021 ABS Financing Facility
Debt Instrument [Line Items]
Repayments of debt			$ 130		$ 515
Number of loan agreements | agreement						2
Amount drawn from credit facilities		$ 545		$ 1,900
Debt outstanding							$ 6,100			6,100
Secured Debt | Asset Backed Notes
Debt Instrument [Line Items]
Repayments of debt										$ 3,000
Secured Debt | Asset Backed Notes | Subsequent Event
Debt Instrument [Line Items]
Repayments of debt	$ 129
Secured Debt | Asset Backed Notes | Minimum
Debt Instrument [Line Items]
Revolving period										18 months
Secured Debt | Asset Backed Notes | Median
Debt Instrument [Line Items]
Revolving period										2 years
Secured Debt | Asset Backed Notes | Maximum
Debt Instrument [Line Items]
Revolving period										3 years
Secured Debt | 2022 ABS Financing Facility | Subsequent Event
Debt Instrument [Line Items]
Revolving period	18 months
Amount drawn from credit facilities	$ 2,000

Debt - Schedule of ABS Notes Tr

Debt - Schedule of ABS Notes Transactions (Details) - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2022	Aug. 31, 2022	May 31, 2022	Jan. 31, 2022
Asset Backed Notes
Debt Instrument [Line Items]
Principal Amount Issued	$ 3,553	$ 887	$ 966	$ 1,700
January 2021 ABS Notes | A Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument				1.04%
Expected Weighted-average Life to Maturity (in years)				1 year 5 months 26 days
Principal Amount Issued				$ 799
January 2021 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument				1.27%
Expected Weighted-average Life to Maturity (in years)				1 year 5 months 26 days
Principal Amount Issued				$ 64
January 2021 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument				1.39%
Expected Weighted-average Life to Maturity (in years)				1 year 5 months 26 days
Principal Amount Issued				$ 37
January 2021 ABS Notes | A Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument				1.53%
Expected Weighted-average Life to Maturity (in years)				2 years 11 months 26 days
Principal Amount Issued				$ 710
January 2021 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument				1.83%
Expected Weighted-average Life to Maturity (in years)				2 years 11 months 26 days
Principal Amount Issued				$ 57
January 2021 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument				2.01%
Expected Weighted-average Life to Maturity (in years)				2 years 11 months 26 days
Principal Amount Issued				$ 33
May 2022 ABS Notes | A Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			3.01%
Expected Weighted-average Life to Maturity (in years)			1 year 5 months 26 days
Principal Amount Issued			$ 400
May 2022 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			3.25%
Expected Weighted-average Life to Maturity (in years)			1 year 5 months 26 days
Principal Amount Issued			$ 0
May 2022 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			3.50%
Expected Weighted-average Life to Maturity (in years)			1 year 5 months 26 days
Principal Amount Issued			$ 16
May 2022 ABS Notes | A Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			3.40%
Expected Weighted-average Life to Maturity (in years)			2 years 11 months 26 days
Principal Amount Issued			$ 488
May 2022 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			3.64%
Expected Weighted-average Life to Maturity (in years)			2 years 11 months 26 days
Principal Amount Issued			$ 42
May 2022 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			3.89%
Expected Weighted-average Life to Maturity (in years)			2 years 11 months 26 days
Principal Amount Issued			$ 20
August 2022 ABS Notes | A-1a Senior fixed rate class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		3.72%
Expected Weighted-average Life to Maturity (in years)		1 year 5 months 8 days
Principal Amount Issued		$ 351
August 2022 ABS Notes | A-1b Senior floating rate class notes
Debt Instrument [Line Items]
Expected Weighted-average Life to Maturity (in years)		1 year 5 months 8 days
Principal Amount Issued		$ 57
August 2022 ABS Notes | A-1b Senior floating rate class notes | Secured Overnight Financial Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.285%	0.62%
August 2022 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		3.96%
Expected Weighted-average Life to Maturity (in years)		1 year 5 months 8 days
Principal Amount Issued		$ 0
August 2022 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.21%
Expected Weighted-average Life to Maturity (in years)		1 year 5 months 8 days
Principal Amount Issued		$ 0
August 2022 ABS Notes | A Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		3.67%
Expected Weighted-average Life to Maturity (in years)		2 years 11 months 8 days
Principal Amount Issued		$ 479
August 2022 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		3.91%
Expected Weighted-average Life to Maturity (in years)		2 years 11 months 8 days
Principal Amount Issued		$ 0
August 2022 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.16%
Expected Weighted-average Life to Maturity (in years)		2 years 11 months 8 days
Principal Amount Issued		$ 0

Debt - Assets and Liabilities R

Debt - Assets and Liabilities Related to Asset-backed Debt Arrangements (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Prepaid expenses and other	$ 10,861	$ 6,906
Other assets	15,633	13,329
Accounts payable and accrued liabilities	22,235	24,833
Debt maturing within one year	14,995	7,443
Long-term debt	132,912	143,425
Variable Interest Entity, Primary Beneficiary
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Accounts receivable, net	11,312	10,705
Prepaid expenses and other	1,357	1,094
Other assets	8,359	5,455
Accounts payable and accrued liabilities	8	10
Debt maturing within one year	6,587	5,024
Long-term debt	$ 9,923	$ 9,178

Debt - Credit Facilities, Non-C

Debt - Credit Facilities, Non-Cash Transaction, Guarantees (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Facility Capacity	$ 20,500,000,000		$ 20,500,000,000
Unused Capacity	10,434,000,000		10,434,000,000
Principal Amount Outstanding	7,000,000,000		7,000,000,000
Debt extinguishment gains (losses)	50,000,000	$ 0	(1,100,000,000)	$ (1,100,000,000)
Guarantee of Debentures of Operating Telephone Company Subsidiaries
Debt Instrument [Line Items]
Principal amount outstanding in connection with the guarantee of debt obligations	614,000,000		614,000,000
Network Equipment | Alternative Financing Facility
Debt Instrument [Line Items]
Value of purchase assets financed			583,000,000	337,000,000
Long-term debt maturing within one year	1,600,000,000		1,600,000,000		$ 1,300,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Facility Capacity	9,500,000,000		9,500,000,000
Unused Capacity	9,434,000,000		9,434,000,000
Equipment Credit Facilities
Debt Instrument [Line Items]
Facility Capacity	11,000,000,000		11,000,000,000
Unused Capacity	1,000,000,000		1,000,000,000
Principal Amount Outstanding	$ 7,000,000,000		7,000,000,000
Amount drawn from credit facilities			$ 3,000,000,000	$ 470,000,000

Device Payment Plan Agreement_2

Device Payment Plan Agreement and Wireless Service Receivables - Schedule of Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable, net	$ 12,826	$ 12,783
Accounts and Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable	24,475	24,742
Less Allowance for credit losses	805	896
Accounts receivable, net of allowance	23,670	$ 23,846
Device payment plan agreement
Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable	13,281
Less Allowance for credit losses	455
Accounts receivable, net	12,826
Wireless Service Plan Receivables
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable	5,141
Less Allowance for credit losses	114
Accounts receivable, net	5,027
Other receivables
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable	6,053
Less Allowance for credit losses	236
Accounts receivable, net	$ 5,817

Device Payment Plan Agreement_3

Device Payment Plan Agreement and Wireless Service Receivables - Schedule of Device Payment Plan Agreement Receivables (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Device payment plan agreement receivables, gross	$ 24,185	$ 21,303
Unamortized imputed interest	(386)	(358)
Device payment plan agreement receivables, at amortized cost	23,799	20,945
Allowance	(772)	(759)
Device payment plan agreement receivables, net	23,027	20,186
Accounts receivable, net	12,826	12,783
Other assets	$ 10,201	$ 7,403

Device Payment Plan Agreement_4

Device Payment Plan Agreement and Wireless Service Receivables - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Jan. 01, 2022	Dec. 31, 2021	Sep. 30, 2021	Jan. 01, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables transferred to ABS Entities	$ 23,027		$ 20,186
Guarantee liability	61		77
Device payment plan agreement, trade-in liability	7,954	$ 7,229	7,229	$ 6,034	$ 5,598
Asset Pledged as Collateral without Right
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables transferred to ABS Entities	19,500		16,000
Wireless Service Plan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables originating in 2022	5,100
Receivables originating in 2021	66
Product Trade-in
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement, trade-in liability	$ 460		$ 366
Verizon Business Group And Verizon Consumer Group
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 | Minimum | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	12 months
Business | Maximum | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	12 months
Consumer | Minimum | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	45 days
Consumer | Maximum | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	45 days

Device Payment Plan Agreement_5

Device Payment Plan Agreement and Wireless Service Receivables - Schedule of Credit Quality Indicators (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Device payment plan agreement receivables, at amortized cost	$ 24,185	$ 21,303
Device payment plan agreement
Financing Receivable, Credit Quality Indicator [Line Items]
2022	14,292
2021	8,881
Prior to 2021	626
Device payment plan agreement receivables, at amortized cost	23,799
New customers | Device payment plan agreement
Financing Receivable, Credit Quality Indicator [Line Items]
2022	1,993
2021	1,273
Prior to 2021	82
Device payment plan agreement receivables, at amortized cost	3,348
Existing customers | Device payment plan agreement
Financing Receivable, Credit Quality Indicator [Line Items]
2022	12,299
2021	7,608
Prior to 2021	544
Device payment plan agreement receivables, at amortized cost	$ 20,451

Device Payment Plan Agreement_6

Device Payment Plan Agreement and Wireless Service Receivables - Allowance for Credit Losses (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 759
Ending balance	772
Device payment plan agreement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	759
Current period provision for expected credit losses	606
Write-offs charged against the allowance	(619)
Recoveries collected	26
Ending balance	772
Wireless Service Plan Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	130
Current period provision for expected credit losses	275
Write-offs charged against the allowance	(324)
Recoveries collected	33
Ending balance	$ 114

Device Payment Plan Agreement_7

Device Payment Plan Agreement and Wireless Service Receivables - Balance and Aging of Receivables (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 24,185	$ 21,303
Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	23,799
Unbilled | Current | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	22,567
Billed | Current | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	1,022
Billed | Past due | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 210

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets:
Total	$ 471	$ 1,527
Liabilities:
Total	10,569	3,180
Fixed income securities | Prepaid expenses and other
Assets:
Fixed income securities	32	18
Fixed income securities | Other assets
Assets:
Fixed income securities	341	391
Interest rate swaps | Prepaid expenses and other
Assets:
Derivative asset		188
Interest rate swaps | Other assets
Assets:
Derivative asset		285
Interest rate swaps | Other current liabilities
Liabilities:
Derivative liabilities	704	1
Interest rate swaps | Other liabilities
Liabilities:
Derivative liabilities	3,850	665
Forward starting interest rate swaps
Liabilities:
Derivative liabilities		302
Cross currency swaps | Prepaid expenses and other
Assets:
Derivative asset	1	9
Cross currency swaps | Other assets
Assets:
Derivative asset	53	580
Cross currency swaps | Other current liabilities
Liabilities:
Derivative liabilities	346	218
Cross currency swaps | Other liabilities
Liabilities:
Derivative liabilities	5,190	1,406
Interest rate caps
Assets:
Derivative asset		44
Liabilities:
Derivative liabilities		44
Interest rate caps | Prepaid expenses and other
Assets:
Derivative asset	33
Interest rate caps | Other assets
Assets:
Derivative asset	11
Interest rate caps | Other current liabilities
Liabilities:
Derivative liabilities	32
Interest rate caps | Other liabilities
Liabilities:
Derivative liabilities	10
Foreign exchange forwards
Assets:
Derivative asset		12
Liabilities:
Derivative liabilities	10
Contingent consideration | Other current liabilities
Liabilities:
Derivative liabilities	313	231
Contingent consideration | Other liabilities
Liabilities:
Derivative liabilities	114	313
Level 1
Assets:
Total	0	0
Liabilities:
Total	0	0
Level 1 | Fixed income securities | Prepaid expenses and other
Assets:
Fixed income securities	0	0
Level 1 | Fixed income securities | Other assets
Assets:
Fixed income securities	0	0
Level 1 | Interest rate swaps | Prepaid expenses and other
Assets:
Derivative asset		0
Level 1 | Interest rate swaps | Other assets
Assets:
Derivative asset		0
Level 1 | Interest rate swaps | Other current liabilities
Liabilities:
Derivative liabilities	0	0
Level 1 | Interest rate swaps | Other liabilities
Liabilities:
Derivative liabilities	0	0
Level 1 | Forward starting interest rate swaps
Liabilities:
Derivative liabilities		0
Level 1 | Cross currency swaps | Prepaid expenses and other
Assets:
Derivative asset	0	0
Level 1 | Cross currency swaps | Other assets
Assets:
Derivative asset	0	0
Level 1 | Cross currency swaps | Other current liabilities
Liabilities:
Derivative liabilities	0	0
Level 1 | Cross currency swaps | Other liabilities
Liabilities:
Derivative liabilities	0	0
Level 1 | Interest rate caps
Assets:
Derivative asset		0
Liabilities:
Derivative liabilities		0
Level 1 | Interest rate caps | Prepaid expenses and other
Assets:
Derivative asset	0
Level 1 | Interest rate caps | Other assets
Assets:
Derivative asset	0
Level 1 | Interest rate caps | Other current liabilities
Liabilities:
Derivative liabilities	0
Level 1 | Interest rate caps | Other liabilities
Liabilities:
Derivative liabilities	0
Level 1 | Foreign exchange forwards
Assets:
Derivative asset		0
Liabilities:
Derivative liabilities	0
Level 1 | Contingent consideration | Other current liabilities
Liabilities:
Derivative liabilities	0	0
Level 1 | Contingent consideration | Other liabilities
Liabilities:
Derivative liabilities	0	0
Level 2
Assets:
Total	471	1,527
Liabilities:
Total	10,142	2,636
Level 2 | Fixed income securities | Prepaid expenses and other
Assets:
Fixed income securities	32	18
Level 2 | Fixed income securities | Other assets
Assets:
Fixed income securities	341	391
Level 2 | Interest rate swaps | Prepaid expenses and other
Assets:
Derivative asset		188
Level 2 | Interest rate swaps | Other assets
Assets:
Derivative asset		285
Level 2 | Interest rate swaps | Other current liabilities
Liabilities:
Derivative liabilities	704	1
Level 2 | Interest rate swaps | Other liabilities
Liabilities:
Derivative liabilities	3,850	665
Level 2 | Forward starting interest rate swaps
Liabilities:
Derivative liabilities		302
Level 2 | Cross currency swaps | Prepaid expenses and other
Assets:
Derivative asset	1	9
Level 2 | Cross currency swaps | Other assets
Assets:
Derivative asset	53	580
Level 2 | Cross currency swaps | Other current liabilities
Liabilities:
Derivative liabilities	346	218
Level 2 | Cross currency swaps | Other liabilities
Liabilities:
Derivative liabilities	5,190	1,406
Level 2 | Interest rate caps
Assets:
Derivative asset		44
Liabilities:
Derivative liabilities		44
Level 2 | Interest rate caps | Prepaid expenses and other
Assets:
Derivative asset	33
Level 2 | Interest rate caps | Other assets
Assets:
Derivative asset	11
Level 2 | Interest rate caps | Other current liabilities
Liabilities:
Derivative liabilities	32
Level 2 | Interest rate caps | Other liabilities
Liabilities:
Derivative liabilities	10
Level 2 | Foreign exchange forwards
Assets:
Derivative asset		12
Liabilities:
Derivative liabilities	10
Level 2 | Contingent consideration | Other current liabilities
Liabilities:
Derivative liabilities	0	0
Level 2 | Contingent consideration | Other liabilities
Liabilities:
Derivative liabilities	0	0
Level 3
Assets:
Total	0	0
Liabilities:
Total	427	544
Level 3 | Fixed income securities | Prepaid expenses and other
Assets:
Fixed income securities	0	0
Level 3 | Fixed income securities | Other assets
Assets:
Fixed income securities	0	0
Level 3 | Interest rate swaps | Prepaid expenses and other
Assets:
Derivative asset		0
Level 3 | Interest rate swaps | Other assets
Assets:
Derivative asset		0
Level 3 | Interest rate swaps | Other current liabilities
Liabilities:
Derivative liabilities	0	0
Level 3 | Interest rate swaps | Other liabilities
Liabilities:
Derivative liabilities	0	0
Level 3 | Forward starting interest rate swaps
Liabilities:
Derivative liabilities		0
Level 3 | Cross currency swaps | Prepaid expenses and other
Assets:
Derivative asset	0	0
Level 3 | Cross currency swaps | Other assets
Assets:
Derivative asset	0	0
Level 3 | Cross currency swaps | Other current liabilities
Liabilities:
Derivative liabilities	0	0
Level 3 | Cross currency swaps | Other liabilities
Liabilities:
Derivative liabilities	0	0
Level 3 | Interest rate caps
Assets:
Derivative asset		0
Liabilities:
Derivative liabilities		0
Level 3 | Interest rate caps | Prepaid expenses and other
Assets:
Derivative asset	0
Level 3 | Interest rate caps | Other assets
Assets:
Derivative asset	0
Level 3 | Interest rate caps | Other current liabilities
Liabilities:
Derivative liabilities	0
Level 3 | Interest rate caps | Other liabilities
Liabilities:
Derivative liabilities	0
Level 3 | Foreign exchange forwards
Assets:
Derivative asset		0
Liabilities:
Derivative liabilities	0
Level 3 | Contingent consideration | Other current liabilities
Liabilities:
Derivative liabilities	313	231
Level 3 | Contingent consideration | Other liabilities
Liabilities:
Derivative liabilities	$ 114	$ 313

Fair Value Measurements and F_4

Fair Value Measurements and Financial Instruments - Additional Information (Detail) € in Millions	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Aug. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 EUR (€)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)
Derivatives, Fair Value [Line Items]
Carrying amount of our investments without readily determinable fair values		$ 814,000,000	$ 814,000,000				$ 808,000,000
Cumulative adjustments due to observable price changes		157,000,000	157,000,000
Cumulative adjustments due to impairment charges		82,000,000	82,000,000
Initial value of the excluded component						$ 1,000,000,000
Exchange gains and losses from the conversion of foreign currency denominated as debt		0	0
Derivative liability fair value of collateral		4,900,000,000	4,900,000,000
Derivative asset fair value of collateral		0	0				100,000,000
Scenario, Forecast | Interest Expense
Derivatives, Fair Value [Line Items]
Excluded component estimated to be amortized into interest expense				$ 108,000,000
TracFone Wireless, Inc.
Derivatives, Fair Value [Line Items]
Contingent consideration payment	$ 113,000,000	113,000,000
Cross currency swaps
Derivatives, Fair Value [Line Items]
Net investment hedge		32,502,000,000	32,502,000,000				32,502,000,000
Interest rate swaps
Derivatives, Fair Value [Line Items]
Net investment hedge		26,071,000,000	26,071,000,000				19,779,000,000
Forward starting interest rate swaps
Derivatives, Fair Value [Line Items]
Net investment hedge		$ 0	$ 0				$ 1,000,000,000
Euro Denominated Debt | Net Investment Hedges
Derivatives, Fair Value [Line Items]
Net investment hedge | €					€ 750			€ 750

Fair Value Measurements and F_5

Fair Value Measurements and Financial Instruments - Debt Excluding Capital Leases (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	$ 146,326	$ 149,543
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	133,643	169,205
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	82,250	106,599
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	51,393	62,606
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	$ 0	$ 0

Fair Value Measurements and F_6

Fair Value Measurements and Financial Instruments - Notional Amounts of Outstanding Derivative Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Interest rate swaps
Derivative [Line Items]
Notional amount	$ 26,071	$ 19,779
Cross currency swaps
Derivative [Line Items]
Notional amount	32,502	32,502
Forward starting interest rate swaps
Derivative [Line Items]
Notional amount	0	1,000
Foreign exchange forwards
Derivative [Line Items]
Notional amount	$ 940	$ 932

Fair Value Measurements and F_7

Fair Value Measurements and Financial Instruments - Schedule of Designated Derivative Activity (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest rate swaps | Fair Value Hedges
Derivative [Line Items]
Notional value entered into	$ 0	$ 0	$ 7,155	$ 2,550
Notional value settled	0	851	863	3,540
Cash received (paid) for settlement of derivatives			40	110
Interest rate swaps | Fair Value Hedges | Interest Expense
Derivative [Line Items]
Pre-tax gain recognized in Interest expense	2	0	2	1
Cross currency swaps | Fair Value Hedges
Derivative [Line Items]
Notional value entered into	0
Notional value settled	0
Pre-tax loss on cross currency swaps recognized in Interest expense	(2,039)		(3,847)
Pre-tax gain on hedged debt recognized in Interest expense	2,039		3,847
Excluded component	169		(171)
Cross currency swaps | Fair Value Hedges | Interest Expense
Derivative [Line Items]
Excluded component	27		54
Cross currency swaps | Cash Flow Hedging
Derivative [Line Items]
Notional value entered into		0	0	6,214
Notional value settled		0	0	0
Pre-tax gain (loss) recognized in other comprehensive loss		(1,057)	(430)	(1,984)
Forward starting interest rate swaps | Cash Flow Hedging
Derivative [Line Items]
Notional value entered into	0	0	0	0
Notional value settled	0	0	1,000	1,000
Pre-tax gain (loss) recognized in other comprehensive loss	0	0	196	279
Cash received (paid) for settlement of derivatives			(107)	(237)
Treasury rate locks | Cash Flow Hedging
Derivative [Line Items]
Notional value entered into	0	0	0	4,650
Notional value settled	0	0	0	4,650
Pre-tax gain (loss) recognized in other comprehensive loss	$ 0	$ 0	0	251
Cash received (paid) for settlement of derivatives			$ 0	$ 251

Fair Value Measurements and F_8

Fair Value Measurements and Financial Instruments - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - Long-term Debt - Fair Value Hedges - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Carrying amount of hedged liabilities	$ 21,836	$ 20,027
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities	(4,432)	(113)
Cumulative amount of fair value hedging adjustment remaining for which hedge accounting has been discontinued	$ 510	$ 575

Fair Value Measurements and F_9

Fair Value Measurements and Financial Instruments - Schedule of Derivatives Not Designated as Hedges (Details) - Not Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Foreign exchange forwards
Derivative [Line Items]
Notional value entered into	$ 2,642	$ 2,745	$ 8,144	$ 9,970
Notional value settled	2,703	3,365	8,136	10,505
Pre-tax loss recognized	(75)	(29)	(169)	(51)
Swaptions
Derivative [Line Items]
Notional value settled	0	0	1,000	0
Pre-tax loss recognized	0	0	(33)	0
Notional value sold	$ 0	$ 1,000	$ 1,000	$ 1,000

Employee Benefits - Costs by Pl

Employee Benefits - Costs by Plans (Detail) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 59		$ 67		$ 191	$ 212
Amortization of prior service cost (credit)	24		16		54	46
Expected return on plan assets	(274)		(309)		(865)	(927)
Interest cost	151		102		375	296
Remeasurement loss, net	645	$ 198	144	$ (1,300)	843	(1,170)
Other components	546		(47)		407	(1,755)
Total	605		20		598	(1,543)
Pension | Cost of services
Defined Benefit Plan Disclosure [Line Items]
Service cost	52		59		168	186
Pension | Selling, general and administrative expense
Defined Benefit Plan Disclosure [Line Items]
Service cost	7		8		23	26
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	24		28		71	85
Amortization of prior service cost (credit)	(106)		(223)		(419)	(670)
Expected return on plan assets	(6)		(6)		(20)	(17)
Interest cost	83		72		249	217
Remeasurement loss, net	0		0		0	0
Other components	(29)		(157)		(190)	(470)
Total	(5)		(129)		(119)	(385)
Health Care and Life | Cost of services
Defined Benefit Plan Disclosure [Line Items]
Service cost	20		24		60	71
Health Care and Life | Selling, general and administrative expense
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4		$ 4		$ 11	$ 14

Employee Benefits - Additional

Employee Benefits - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended				6 Months Ended	9 Months Ended
	Jul. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Amount paid in severance benefits over the period							$ 155,000,000
Post employment benefits liability		$ 400,000,000					400,000,000
Collective bargaining agreement, extension period	3 years
Pension
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets		7.25%				6.25%
Employer discretionary contribution amount		$ 0		$ 0			0	$ 0
Remeasurement gain (loss), net		(645,000,000)	$ (198,000,000)	(144,000,000)	$ 1,300,000,000		$ (843,000,000)	$ 1,170,000,000
Credit (charge) due to difference between estimated and actual return on assets		3,500,000,000	654,000,000	523,000,000	122,000,000
Credit due to change in discount rate assumption		2,900,000,000	$ 456,000,000	$ 667,000,000	$ 1,200,000,000
Increase in defined benefit pension plan obligations due to plan amendments		427,000,000
Decrease to Accumulated other comprehensive income		317,000,000
Defined benefit plan, adjustment due to amendments, tax		$ 110,000,000

Equity and Accumulated Other _3

Equity and Accumulated Other Comprehensive Loss - Changes in Components of Total equity (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Loss [Line Items]
Dividends declared per common share (USD per share)	$ 0.6525	$ 0.6400	$ 1.9325	$ 1.8950
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 83,200
Net income attributable to Verizon	$ 4,900	$ 6,407	14,679	$ 17,452
Foreign currency translation adjustments	(120)	(146)	(285)	(126)
Unrealized gain (loss) on cash flow hedges	22	(174)	301	(42)
Unrealized loss on fair value hedges	105	0	(167)	0
Unrealized loss on marketable securities	(8)	0	(32)	(5)
Defined benefit pension and postretirement plans	(379)	(155)	$ (590)	(465)
Shareholder plans (in shares)			2,000
Total comprehensive income	4,644	6,079	$ 14,277	17,243
Ending balance	$ 88,783	$ 78,489	$ 88,783	$ 78,489
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	4,291,434	4,291,434	4,291,434	4,291,434
Beginning balance	$ 429	$ 429	$ 429	$ 429
Ending balance (in shares)	4,291,434	4,291,434	4,291,434	4,291,434
Ending balance	$ 429	$ 429	$ 429	$ 429
Additional Paid In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	13,872	13,403	13,861	13,404
Other	(405)	(1)	(394)	(2)
Ending balance	13,467	13,402	13,467	13,402
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	76,401	66,310	71,993	60,464
Net income attributable to Verizon	4,900	6,407	14,679	17,452
Dividends declared ($0.6525, $0.6400 per share)	(2,741)	(2,651)	(8,120)	(7,850)
Other	(15)	(4)	(7)	(4)
Ending balance	78,545	70,062	78,545	70,062
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,320)	(234)	(927)	(71)
Foreign currency translation adjustments	(120)	(146)	(285)	(126)
Unrealized gain (loss) on cash flow hedges	22	(174)	301	(42)
Unrealized loss on fair value hedges	105	0	(167)	0
Unrealized loss on marketable securities	(8)	0	(32)	(5)
Defined benefit pension and postretirement plans	(379)	(155)	(590)	(465)
Other comprehensive loss	(380)	(475)	(773)	(638)
Ending balance	$ (1,700)	$ (709)	$ (1,700)	$ (709)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	91,719	151,318	93,635	153,304
Beginning balance	$ (4,020)	$ (6,632)	$ (4,104)	$ (6,719)
Employee plans (in shares)	103	48	2,016	2,031
Employee plans	$ 5	$ 2	$ 89	$ 89
Shareholder plans (in shares)			3	3
Shareholder plans			$ 0	$ 0
Ending balance (in shares)	91,616	151,270	91,616	151,270
Ending balance	$ (4,015)	$ (6,630)	$ (4,015)	$ (6,630)
Deferred Compensation-ESOPs and Other
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	654	408	538	335
Restricted stock equity grant	98	85	368	315
Amortization	(10)	(3)	(164)	(160)
Ending balance	742	490	742	490
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,341	1,428	1,410	1,430
Total comprehensive income	124	147	371	429
Distributions and other	(150)	(130)	(466)	(414)
Ending balance	$ 1,315	$ 1,445	$ 1,315	$ 1,445

Equity and Accumulated Other _4

Equity and Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Loss [Line Items]
Stock repurchase program, remaining shares available for purchase (in shares)	100,000,000		100,000,000
Number of common shares issued from treasury stock (in shares)			2,000,000
Controlled Wireless Partnerships
Accumulated Other Comprehensive Loss [Line Items]
Payments to acquire noncontrolling interest	$ 458
Additional Paid In Capital | Controlled Wireless Partnerships
Accumulated Other Comprehensive Loss [Line Items]
Acquisition of additional interests in certain controlled wireless partnerships	406		$ 406
Noncontrolling Interests
Accumulated Other Comprehensive Loss [Line Items]
Acquisition of additional interests in certain controlled wireless partnerships	(150)	$ (130)	(466)	$ (414)
Noncontrolling Interests | Controlled Wireless Partnerships
Accumulated Other Comprehensive Loss [Line Items]
Acquisition of additional interests in certain controlled wireless partnerships	$ 52		$ 52

Equity and Accumulated Other _5

Equity and Accumulated Other Comprehensive Loss - Changes in AOCI (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning balance			$ 83,200
Ending balance	$ 88,783	$ 78,489	88,783	$ 78,489
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning balance	(1,320)	(234)	(927)	(71)
Other comprehensive loss			(808)
Amounts reclassified to net income			162
Other comprehensive loss	(380)	(475)	(773)	(638)
Ending balance	(1,700)	$ (709)	(1,700)	$ (709)
Foreign  currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning balance			(545)
Other comprehensive loss			(285)
Other comprehensive loss			(285)
Ending balance	(830)		(830)
Unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning balance			(1,472)
Other comprehensive loss			(174)
Amounts reclassified to net income			475
Other comprehensive loss			301
Ending balance	(1,171)		(1,171)
Unrealized gain (loss) from fair value hedges
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning balance			0
Other comprehensive loss			(127)
Amounts reclassified to net income			(40)
Other comprehensive loss			(167)
Ending balance	(167)		(167)
Unrealized loss on marketable securities
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning balance			16
Other comprehensive loss			(32)
Other comprehensive loss			(32)
Ending balance	(16)		(16)
Defined benefit pension and postretirement plans
AOCI Including Portion Attributable to Noncontrolling Interest [Abstract]
Beginning balance			1,074
Other comprehensive loss			(317)
Amounts reclassified to net income			(273)
Other comprehensive loss			(590)
Ending balance	$ 484		$ 484

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Operating

Segment Information - Operating Financial Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Operating revenues	$ 34,241	$ 32,915	$ 101,584	$ 99,546
Operating Income	7,894	8,905	23,242	24,840
Wireless equipment
Segment Reporting Information [Line Items]
Operating revenues	6,575	5,350	19,585	15,837
Service revenues and other
Segment Reporting Information [Line Items]
Operating revenues	27,666	27,565	81,999	83,709
Fios revenues
Segment Reporting Information [Line Items]
Operating revenues	3,206	3,180	9,605	9,492
Wireless service
Segment Reporting Information [Line Items]
Operating revenues	18,790	17,079	55,550	50,707
Consumer | Fios revenues
Segment Reporting Information [Line Items]
Operating revenues	2,902	2,893	8,708	8,648
Consumer | Wireless service
Segment Reporting Information [Line Items]
Operating revenues	15,517	13,982	45,970	41,460
Business | Wireless equipment
Segment Reporting Information [Line Items]
Operating revenues	1,000	820	2,900	2,400
Business | Service revenues and other
Segment Reporting Information [Line Items]
Operating revenues	6,800	6,900	20,200	20,900
Business | Fios revenues
Segment Reporting Information [Line Items]
Operating revenues	304	287	897	844
Business | Wireless service
Segment Reporting Information [Line Items]
Operating revenues	3,273	3,097	9,580	9,247
Operating Segments Excluding Intersegment Elimination
Segment Reporting Information [Line Items]
Operating revenues	33,615	30,944	99,721	92,606
Operating Segments Excluding Intersegment Elimination | Consumer
Segment Reporting Information [Line Items]
Operating revenues	25,788	23,271	76,583	69,427
Operating Segments Excluding Intersegment Elimination | Consumer | Service
Segment Reporting Information [Line Items]
Operating revenues	18,421	16,889	54,696	50,159
Operating Segments Excluding Intersegment Elimination | Consumer | Wireless equipment
Segment Reporting Information [Line Items]
Operating revenues	5,558	4,530	16,640	13,461
Operating Segments Excluding Intersegment Elimination | Consumer | Other
Segment Reporting Information [Line Items]
Operating revenues	1,809	1,852	5,247	5,807
Operating Segments Excluding Intersegment Elimination | Business
Segment Reporting Information [Line Items]
Operating revenues	7,827	7,673	23,138	23,179
Operating Segments Excluding Intersegment Elimination | Business | Small and Medium Business
Segment Reporting Information [Line Items]
Operating revenues	3,191	2,929	9,315	8,644
Operating Segments Excluding Intersegment Elimination | Business | Global Enterprise
Segment Reporting Information [Line Items]
Operating revenues	2,449	2,551	7,310	7,690
Operating Segments Excluding Intersegment Elimination | Business | Public Sector and Other
Segment Reporting Information [Line Items]
Operating revenues	1,531	1,548	4,587	4,807
Operating Segments Excluding Intersegment Elimination | Business | Wholesale
Segment Reporting Information [Line Items]
Operating revenues	656	645	1,926	2,038
Intersegment Eliminations
Segment Reporting Information [Line Items]
Operating revenues	62	73	187	229
Intersegment Eliminations | Consumer
Segment Reporting Information [Line Items]
Operating revenues	52	57	153	176
Intersegment Eliminations | Business
Segment Reporting Information [Line Items]
Operating revenues	10	16	34	53
Operating Segments
Segment Reporting Information [Line Items]
Operating revenues	33,677	31,017	99,908	92,835
Operating Income	8,047	8,476	23,864	25,247
Operating Segments | Consumer
Segment Reporting Information [Line Items]
Operating revenues	25,840	23,328	76,736	69,603
Operating Income	7,349	7,590	21,818	22,606
Operating Segments | Business
Segment Reporting Information [Line Items]
Operating revenues	7,837	7,689	23,172	23,232
Operating Income	$ 698	$ 886	$ 2,046	$ 2,641

Segment Information - Reconcili

Segment Information - Reconciliation of Operating Revenues (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	$ 34,241	$ 32,915	$ 101,584	$ 99,546
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	33,677	31,017	99,908	92,835
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	627	2,009	1,868	7,093
Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	$ (63)	$ (111)	$ (192)	$ (382)

Segment Information - Reconci_2

Segment Information - Reconciliation of Segments Operating Income to Consolidated Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Operating income	$ 7,894	$ 8,905	$ 23,242	$ 24,840
Other components of net periodic benefit charges	(68)	(192)	(323)	(576)
Loss on spectrum licenses	0	0	0	(223)
Equity in earnings of unconsolidated businesses	2	1	40	10
Other income (expense), net	(439)	269	(1,314)	1,172
Interest expense	(937)	(801)	(2,508)	(2,746)
Income Before Provision For Income Taxes	6,520	8,374	19,460	23,276
Operating Segments
Segment Reporting Information [Line Items]
Operating income	8,047	8,476	23,864	25,247
Corporate and other
Segment Reporting Information [Line Items]
Operating income	$ (85)	$ 621	$ (299)	$ 392

Commitments and Contingencies (

Commitments and Contingencies (Detail)	9 Months Ended
	Sep. 30, 2022 agreement legalMatter
Guarantor Obligations [Line Items]
Approximate number of federal district court actions alleged for patent infringement | legalMatter	20
Payment Guarantee
Guarantor Obligations [Line Items]
Number of renewable energy purchase agreements | agreement	2
Payment Guarantee | Minimum
Guarantor Obligations [Line Items]
Fixed price term	12 years
Payment Guarantee | Maximum
Guarantor Obligations [Line Items]
Fixed price term	15 years