Verizon Communications (VZ) 10-K 12 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Jan. 31, 2025	Jun. 30, 2024
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-8606
Entity Registrant Name	Verizon Communications Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-2259884
Entity Address, Address Line One	1095 Avenue of the Americas
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	212
Local Phone Number	395-1000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 173.6
Entity Common Stock, Shares Outstanding		4,209,703,958
Documents Incorporated by Reference	Portions of the registrant's definitive Proxy Statement to be delivered to shareholders in connection with the registrant's 2025 Annual Meeting of Shareholders (Part III).
Entity Central Index Key	0000732712
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
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
4.250% Notes due 2030
Entity Information [Line Items]
Title of 12(b) Security	4.250% Notes due 2030
Trading Symbol	VZ 30D
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
3.500% Notes due 2032
Entity Information [Line Items]
Title of 12(b) Security	3.500% Notes due 2032
Trading Symbol	VZ 32B
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
4.750% Notes due 2034
Entity Information [Line Items]
Title of 12(b) Security	4.750% Notes due 2034
Trading Symbol	VZ 34C
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
3.750% Notes due 2036
Entity Information [Line Items]
Title of 12(b) Security	3.750% Notes due 2036
Trading Symbol	VZ 36B
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
New York Stock Exchange | Common Stock, par value $0.10
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.10
Trading Symbol	VZ
Security Exchange Name	NYSE
The NASDAQ Global Select Market | Common Stock, par value $0.10
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.10
Trading Symbol	VZ
Security Exchange Name	NASDAQ

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	New York, NY
Auditor Firm ID	42

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Revenues
Operating Revenues	$ 134,788	$ 133,974	$ 136,835
Operating Expenses
Selling, general and administrative expense	34,113	32,745	30,136
Depreciation and amortization expense	17,892	17,624	17,099
Verizon Business Group goodwill impairment	0	5,841	0
Total Operating Expenses	106,102	111,097	106,368
Operating Income	28,686	22,877	30,467
Equity in earnings (losses) of unconsolidated businesses	(53)	(53)	44
Other income (expense), net	995	(313)	1,373
Interest expense	(6,649)	(5,524)	(3,613)
Income Before Provision For Income Taxes	22,979	16,987	28,271
Provision for income taxes	(5,030)	(4,892)	(6,523)
Net Income	17,949	12,095	21,748
Net income attributable to noncontrolling interests	443	481	492
Net income attributable to Verizon	17,506	11,614	21,256
Net Income	$ 17,949	$ 12,095	$ 21,748
Basic Earnings Per Common Share
Net income attributable to Verizon (in USD per share)	$ 4.15	$ 2.76	$ 5.06
Weighted-average shares outstanding (in shares)	4,218	4,211	4,202
Diluted Earnings Per Common Share
Net income attributable to Verizon (in USD per share)	$ 4.14	$ 2.75	$ 5.06
Weighted-average shares outstanding (in shares)	4,223	4,215	4,204
Service revenues and other
Operating Revenues
Operating Revenues	$ 111,571	$ 109,652	$ 109,625
Wireless equipment
Operating Revenues
Operating Revenues	23,217	24,322	27,210
Operating Expenses
Cost of services and wireless equipment	26,100	26,787	30,496
Service
Operating Expenses
Cost of services and wireless equipment	$ 27,997	$ 28,100	$ 28,637

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 17,949	$ 12,095	$ 21,748
Other Comprehensive Income (Loss), Net of Tax (Expense) Benefit
Foreign currency translation adjustments, net of tax of $(13), $6 and $(13)	(97)	62	(153)
Unrealized gain on cash flow hedges, net of tax of $(27), $(30) and $(111)	81	88	322
Unrealized gain (loss) on fair value hedges, net of tax of $(162), $(181) and $148	484	536	(431)
Unrealized gain (loss) on marketable securities, net of tax of $1, $(2) and $8	(3)	7	(25)
Defined benefit pension and postretirement plans, net of tax of $4, $68 and $221	(8)	(208)	(651)
Other comprehensive income (loss) attributable to Verizon	457	485	(938)
Total Comprehensive Income	18,406	12,580	20,810
Comprehensive income attributable to noncontrolling interests	443	481	492
Comprehensive income attributable to Verizon	17,963	12,099	20,318
Total Comprehensive Income	$ 18,406	$ 12,580	$ 20,810

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ (13)	$ 6	$ (13)
Unrealized gain (loss) on cash flow hedges, tax	(27)	(30)	(111)
Unrealized loss on fair value hedges, tax	(162)	(181)	148
Unrealized loss on marketable securities, tax	1	(2)	8
Defined benefit pension and postretirement plans, tax	$ 4	$ 68	$ 221

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 4,194	$ 2,065
Accounts receivable	27,261	26,102
Less Allowance for credit losses	1,152	1,017
Accounts receivable, net	26,109	25,085
Inventories	2,247	2,057
Prepaid expenses and other	7,973	7,607
Total current assets	40,523	36,814
Property, plant and equipment	331,406	320,108
Less Accumulated depreciation	222,884	211,798
Property, plant and equipment, net	108,522	108,310
Investments in unconsolidated businesses	842	953
Wireless licenses	156,613	155,667
Goodwill	22,841	22,843
Other intangible assets, net	11,129	11,057
Operating lease right-of-use assets	24,472	24,726
Other assets	19,769	19,885
Total assets	384,711	380,255
Current liabilities
Debt maturing within one year	22,633	12,973
Accounts payable and accrued liabilities	23,374	23,453
Current operating lease liabilities	4,415	4,266
Other current liabilities	14,349	12,531
Total current liabilities	64,771	53,223
Long-term debt	121,381	137,701
Employee benefit obligations	11,997	13,189
Deferred income taxes	46,732	45,781
Non-current operating lease liabilities	19,928	20,002
Other liabilities	19,327	16,560
Total long-term liabilities	219,365	233,233
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	13,466	13,631
Retained earnings	89,110	82,915
Accumulated other comprehensive loss	(923)	(1,380)
Common stock in treasury, at cost (81,753,488 and 87,172,997 shares outstanding)	(3,583)	(3,821)
Deferred compensation – employee stock ownership plans (ESOPs) and other	738	656
Noncontrolling interests	1,338	1,369
Total equity	100,575	93,799
Total liabilities and equity	$ 384,711	$ 380,255

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Series preferred stock, par value (in 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 (in 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 outstanding (in shares)	81,753,488	87,172,997

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net Income	$ 17,949	$ 12,095	$ 21,748
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	17,892	17,624	17,099
Employee retirement benefits	(52)	1,206	(2,046)
Deferred income taxes	815	2,388	2,973
Provision for expected credit losses	2,338	2,214	1,611
Equity in losses (earnings) of unconsolidated businesses, net of dividends received	75	84	(10)
Verizon Business Group goodwill impairment	0	5,841	0
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses:
Accounts receivable	(2,565)	(2,198)	(1,978)
Inventories	(196)	287	627
Prepaid expenses and other	(626)	(435)	928
Accounts payable and accrued liabilities and Other current liabilities	1,109	2,079	(33)
Other, net	173	(3,710)	(3,778)
Net cash provided by operating activities	36,912	37,475	37,141
Cash Flows from Investing Activities
Capital expenditures (including capitalized software)	(17,090)	(18,767)	(23,087)
Cash received (paid) related to acquisitions of businesses, net of cash acquired	0	(30)	248
Acquisitions of wireless licenses	(900)	(5,796)	(3,653)
Collateral receipts (payments) related to derivative contracts, net	(712)	880	(2,265)
Proceeds from disposition of business	0	0	33
Other, net	28	281	62
Net cash used in investing activities	(18,674)	(23,432)	(28,662)
Cash Flows from Financing Activities
Proceeds from long-term borrowings	3,146	2,018	7,074
Proceeds from asset-backed long-term borrowings	12,422	6,594	10,732
Net proceeds from (repayments of) short-term commercial paper	0	(150)	106
Repayments of long-term borrowings and finance lease obligations	(11,854)	(6,181)	(8,616)
Repayments of asset-backed long-term borrowings	(8,490)	(4,443)	(4,948)
Dividends paid	(11,249)	(11,025)	(10,805)
Other, net	(1,075)	(1,470)	(2,072)
Net cash used in financing activities	(17,100)	(14,657)	(8,529)
Increase (decrease) in cash, cash equivalents and restricted cash	1,138	(614)	(50)
Cash, cash equivalents and restricted cash, beginning of period	3,497	4,111	4,161
Cash, cash equivalents and restricted cash, end of period	$ 4,635	$ 3,497	$ 4,111

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Deferred Compensation-ESOPs and Other	Noncontrolling Interests
Balance at beginning of year (in shares) at Dec. 31, 2021		4,291,434,000
Treasury stock, beginning balance (in shares) at Dec. 31, 2021						(93,635,000)
Balance at beginning of year at Dec. 31, 2021		$ 429	$ 13,861	$ 71,993	$ (927)	$ (4,104)	$ 538	$ 1,410
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other			(441)	(9)
Net income attributable to Verizon	$ 21,256			21,256
Dividends declared ($2.685, $2.635, $2.585 per share)				(10,860)
Foreign currency translation adjustments	(153)				(153)
Unrealized gain on cash flow hedges	322				322
Unrealized gain (loss) on fair value hedges	(431)				(431)
Unrealized gain (loss) on marketable securities	(25)				(25)
Defined benefit pension and postretirement plans	(651)				(651)
Other comprehensive income (loss) attributable to Verizon	$ (938)				(938)
Employee plans (in shares)						2,048,000
Employee plans						$ 90
Shareowner plans (in shares)	2,100,000					15,000
Shareowner plans	$ 91					$ 1
Restricted stock equity grant							423
Amortization							(168)
Total comprehensive income	20,810							492
Distributions and other								(583)
Balance at end of year (in shares) at Dec. 31, 2022		4,291,434,000
Treasury stock, ending balance (in shares) at Dec. 31, 2022						(91,572,000)
Balance at end of year at Dec. 31, 2022	92,463	$ 429	13,420	82,380	(1,865)	$ (4,013)	793	1,319
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other			211	3
Net income attributable to Verizon	11,614			11,614
Dividends declared ($2.685, $2.635, $2.585 per share)				(11,082)
Foreign currency translation adjustments	62				62
Unrealized gain on cash flow hedges	88				88
Unrealized gain (loss) on fair value hedges	536				536
Unrealized gain (loss) on marketable securities	7				7
Defined benefit pension and postretirement plans	(208)				(208)
Other comprehensive income (loss) attributable to Verizon	$ 485				485
Employee plans (in shares)						4,380,000
Employee plans						$ 191
Shareowner plans (in shares)	4,400,000					19,000
Shareowner plans	$ 192					$ 1
Restricted stock equity grant							296
Amortization							(433)
Total comprehensive income	$ 12,580							481
Distributions and other								(431)
Balance at end of year (in shares) at Dec. 31, 2023		4,291,434,000
Treasury stock, ending balance (in shares) at Dec. 31, 2023	(87,172,997)					(87,173,000)
Balance at end of year at Dec. 31, 2023	$ 93,799	$ 429	13,631	82,915	(1,380)	$ (3,821)	656	1,369
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other			(165)	(5)
Net income attributable to Verizon	17,506			17,506
Dividends declared ($2.685, $2.635, $2.585 per share)				(11,306)
Foreign currency translation adjustments	(97)				(97)
Unrealized gain on cash flow hedges	81				81
Unrealized gain (loss) on fair value hedges	484				484
Unrealized gain (loss) on marketable securities	(3)				(3)
Defined benefit pension and postretirement plans	(8)				(8)
Other comprehensive income (loss) attributable to Verizon	$ 457				457
Employee plans (in shares)						5,407,000
Employee plans						$ 237
Shareowner plans (in shares)	5,400,000					13,000
Shareowner plans	$ 238					$ 1
Restricted stock equity grant							447
Amortization							(365)
Total comprehensive income	$ 18,406							443
Distributions and other								(474)
Balance at end of year (in shares) at Dec. 31, 2024		4,291,434,000
Treasury stock, ending balance (in shares) at Dec. 31, 2024	(81,753,488)					(81,753,000)
Balance at end of year at Dec. 31, 2024	$ 100,575	$ 429	$ 13,466	$ 89,110	$ (923)	$ (3,583)	$ 738	$ 1,338

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in USD per share)	$ 2.685	$ 2.635	$ 2.585

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1. Description of Business and Summary of Significant Accounting Policies Description of Business Verizon Communications Inc. (the Company) is a holding company that, acting through its subsidiaries (together with the Company, collectively, Verizon), is one of the world’s leading providers of communications, technology, information and streaming products and services to consumers, businesses and government entities. With a presence around the world, we offer data, video and voice services and solutions on our networks and platforms that are designed to meet customers’ demand for mobility, reliable network connectivity and security. We have two reportable segments that we operate and manage as strategic business units - Verizon Consumer Group (Consumer) and Verizon Business Group (Business). Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the United States (U.S.) under the Verizon family of brands and through wholesale and other arrangements. We also provide fixed wireless access (FWA) broadband through our fifth-generation (5G) or fourth-generation (4G) Long-Term Evolution (LTE) networks as an alternative to traditional landline internet access. 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. Our Business segment provides wireless and wireline communications services and products, including FWA broadband, data, video and advanced communication services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various Internet of Things (IoT) services and products. We provide these products and services to businesses, public sector customers and wireless and wireline carriers across the U.S. and a subset of these products and services to customers around the world. Consolidation The method of accounting applied to investments, whether consolidated or equity, involves an evaluation of all significant terms of the investments that explicitly grant or suggest evidence of control or influence over the operations of the investee. The consolidated financial statements include our controlled subsidiaries, as well as variable interest entities (VIE) where we are deemed to be the primary beneficiary. For controlled subsidiaries that are not wholly-owned, the noncontrolling interests are included in Net income and Total equity. Investments in businesses that we do not control, but have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method. Equity method investments are included in Investments in unconsolidated businesses in our consolidated balance sheets. All significant intercompany accounts and transactions have been eliminated. Basis of Presentation We have reclassified certain prior year amounts to conform to the current year presentation. Use of Estimates We prepare our financial statements using U.S. generally accepted accounting principles (GAAP), which requires management to make estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions take into account historical and forward-looking factors that the Company believes are reasonable. Actual results could differ significantly from those estimates. Examples of significant estimates include the allowance for credit losses, the recoverability of property, plant and equipment and other long-lived assets, the incremental borrowing rate for the lease liability, fair value measurements, including those related to financial instruments, goodwill, spectrum licenses and intangible assets, unrecognized tax benefits, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations. Revenue Recognition We earn revenue from contracts with customers, primarily through the provision of telecommunications and other services and through the sale of wireless equipment. These services include a variety of communication and connectivity services for our Consumer and Business customers including other carriers that use our facilities to provide services to their customers, as well as professional and integrated managed services for our large enterprise and government customers. We account for these revenues under Topic 606. We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. Nature of Products and Services Telecommunications Service We offer wireless services through a variety of plans on a postpaid or prepaid basis. For wireless service, we recognize revenue using an output method, either as the service allowance units are used or as time elapses, because it reflects the pattern by which we satisfy our performance obligation through the transfer of service to the customer. Monthly service is generally billed in advance, which results in a contract liability. See Note 2 for additional information. For postpaid plans, where monthly usage exceeds the allowance, the overage usage represents options held by the customer for incremental services and the usage-based fee is recognized when the customer exercises the option (typically on a month-to-month basis). For our contracts related to wireline communication and connectivity services, in general, fixed monthly fees for service are billed one month in advance, which results in a contract liability, and service revenue is recognized over the enforceable contract term as the service is rendered, as the customer simultaneously receives and consumes the benefits of the services through network access and usage. While substantially all of our wireline service revenue contracts are the result of providing access to our networks, revenue from services that are not fixed in amount and, instead, are based on usage are generally billed in arrears and recognized as the usage occurs. Equipment We sell wireless devices and accessories under the Verizon brand and other brands. Equipment revenue is generally recognized when the products are delivered to and accepted by the customer, as this is when control passes to the customer. In addition to offering the sale of equipment on a standalone basis, we have two primary offerings through which customers pay for a wireless device, in connection with a service contract: fixed-term plans (for our Business customers) and device payment plans. Under a fixed-term plan, the customer is sold the wireless device without any upfront charge or at a discounted price in exchange for entering into a fixed-term service contract (typically for a term of 36 months or less). Under a device payment plan, the customer is sold the wireless device in exchange for a non-interest-bearing installment note, which is repaid by the customer, typically over a 36-month term, and concurrently enters into a month-to-month contract for wireless service. We may offer certain promotions that provide billing credits applied over a specified term, contingent upon the customer maintaining service. The credits are included in the transaction price, which are allocated to the performance obligations based on their relative selling price and are recognized when earned. A financing component exists in both our fixed-term plans and device payment plans because the timing of the payment for the device, which occurs over the contract term, differs from the satisfaction of the performance obligation, which occurs at contract inception upon transfer of the device to the customer. We periodically assess, at the contract level, the significance of the financing component inherent in our fixed-term and device payment plan receivable based on qualitative and quantitative considerations related to our customer classes. These considerations include assessing the commercial objective of our plans, the term and duration of financing provided, interest rates prevailing in the marketplace, and credit risks of our customer classes, all of which impact our selection of appropriate discount rates. Based on current facts and circumstances, we determined that the financing component in our existing wireless device payments and fixed-term contracts sold through the direct channel is not significant and therefore is not accounted for separately. See Note 8 for additional information on the interest on equipment financed on a device payment plan agreement when sold to the customer by an authorized agent in our indirect channel. Wireless Contracts For our wireless contracts, total contract revenue, which represents the transaction price for wireless service and wireless equipment, is allocated between service and equipment revenue based on their estimated standalone selling prices. We estimate the standalone selling price of the device or accessory to be its retail price excluding subsidies or conditional purchase discounts. We estimate the standalone selling price of wireless service to be the price that we offer to customers on month-to-month contracts that can be cancelled at any time without penalty (i.e., when there is no fixed-term for service) or when service is procured without the concurrent purchase of a wireless device. In addition, we also assess whether the service term is impacted by certain legally enforceable rights and obligations in our contract with customers, such as penalties that a customer would have to pay to early terminate a fixed-term contract or billing credits that would cease if the month-to-month wireless service is canceled. The assessment of these legally enforceable rights and obligations involves judgment and impacts our determination of the transaction price and related disclosures. From time to time, we may offer certain promotions that provide our customers on device payment plans with the right to upgrade to a new device after paying a specified portion of their device payment plan agreement amount and trading in their device in good working order. We account for this trade-in right as a guarantee obligation. The full amount of the trade-in right's fair value is recognized as a guarantee liability and results in a reduction to the revenue recognized upon the sale of the device. The total transaction price is reduced by the guarantee, which is accounted for outside the scope of Topic 606, and the remaining transaction price is allocated between the performance obligations within the contract. Our fixed-term plans generally include the sale of a wireless device at subsidized prices. This results in the creation of a contract asset at the time of sale, which represents the recognition of equipment revenue in excess of amounts billed. For our device payment plans, billing credits are accounted for as consideration payable to a customer and are included in the determination of total transaction price, resulting in a contract liability. We may provide a right of return on our products and services for a short time period after a sale. These rights are accounted for as variable consideration when determining the transaction price, and accordingly we recognize revenue based on the estimated amount to which we expect to be entitled after considering expected returns. Returns and credits are estimated at contract inception and updated at the end of each reporting period as additional information becomes available. We also may provide credits or incentives on our products and services for contracts with resellers, which are accounted for as variable consideration when estimating the amount of revenue to recognize. Wireline Contracts Total consideration for wireline services that are bundled in a single contract is allocated to each performance obligation based on our standalone selling price for each service. While many contracts include one or more service performance obligations, the revenue recognition pattern is generally not impacted by the allocation since the services are generally satisfied over the same period of time. We estimate the standalone selling price to be the price of the services when sold on a standalone basis without any promotional discount. In addition, we also assess whether the service term is impacted by certain legally enforceable rights and obligations in our contract with customers such as penalties that a customer would have to pay to early terminate a fixed-term contract. The assessment of these legally enforceable rights and obligations involves judgment and impacts our determination of transaction price and related disclosures. We may provide performance-based credits or incentives on our products and services for contracts with our Business customers, which are accounted for as variable consideration when estimating the transaction price. Credits are estimated at contract inception and are updated at the end of each reporting period as additional information becomes available. Wireless and Wireline Contracts For offers that include third-party providers, we evaluate whether we are acting as the principal or as the agent with respect to the goods or services provided to the customer. This principal-versus-agent assessment involves judgment and focuses on whether the facts and circumstances of the arrangement indicate that the goods or services were controlled by us prior to transferring them to the customer. To evaluate if we have control, we consider various factors including whether we are primarily responsible for fulfillment, bear risk of loss and have discretion over pricing. Other We offer telematics services including smart fleet management and optimization software. Telematics service revenue is generated primarily through subscription contracts. We recognize revenue over time for our subscription contracts. We report taxes collected from customers on behalf of governmental authorities on revenue-producing transactions on a net basis. Maintenance and Repairs We charge the cost of maintenance and repairs, including the cost of replacing minor items not constituting substantial betterments, principally to Cost of services as these costs are incurred. Advertising Costs Costs for advertising products and services, as well as other promotional and sponsorship costs, are charged to Selling, general and administrative expense in the periods in which they are incurred. See Note 15 for additional information. Earnings Per Common Share Basic earnings per common share are based on the weighted-average number of shares outstanding during the period. Where appropriate, diluted earnings per common share include the dilutive effect of shares issuable under our stock-based compensation plans. There were a total of approximately 4.7 million and 4.2 million outstanding dilutive securities, primarily consisting of performance stock units and restricted stock units, included in the computation of diluted earnings per common share for the years ended December 31, 2024 and 2023, respectively. There was a total of approximately 1.9 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the year ended December 31, 2022 . 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 receivables and on the underlying receivables related to the participation interest 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. Cash, cash equivalents and restricted cash are included in the following line items in the consolidated balance sheets: (dollars in millions) At December 31, 2024 2023 Increase / (Decrease) Cash and cash equivalents $ 4,194 $ 2,065 $ 2,129 Restricted cash: Prepaid expenses and other 319 1,244 (925) Other assets 122 188 (66) Cash, cash equivalents and restricted cash $ 4,635 $ 3,497 $ 1,138 Investments in Debt and Equity Securities Investments in equity securities that are not accounted for under equity method accounting or result in consolidation are to be measured at fair value. For investments in equity securities without readily determinable fair values, Verizon elects the measurement alternative permitted under GAAP to measure these investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. For investments in debt securities without quoted prices, Verizon uses an alternative matrix pricing method. Investments in equity securities that do not result in consolidation of the investee are included in Investments in unconsolidated businesses and debt securities are included in Other assets in our consolidated balance sheets. Allowance for Credit Losses Accounts receivable are recorded at amortized cost less an allowance for credit losses that are not expected to be recovered. The gross amount of accounts receivable and corresponding allowance for credit losses are presented separately in the consolidated balance sheets. We maintain allowances for credit losses resulting from the expected failure or inability of our customers to make required payments. We recognize the allowance for credit losses at inception and reassess quarterly based on management’s expectation of the asset’s collectability. The allowance is based on multiple factors including historical experience with bad debts, the credit quality of the customer base, the aging of such receivables and current macroeconomic conditions, as well as management’s expectations of conditions in the future, as applicable. Our allowance for credit losses is based on management’s assessment of the collectability of assets pooled together with similar risk characteristics. We pool our device payment plan agreement receivables based on the credit quality indicators and shared risk characteristics of "new customers" and "existing customers." New customers are defined as customers who have been with Verizon for less than 210 days. Existing customers are defined as customers who have been with Verizon for 210 days or more. We record an allowance to reduce the receivables to the amount that is expected to be collectible. For device payment plan agreement receivables, we record bad debt expense based on a default and loss calculation using our proprietary loss model. The expected loss rate is determined based on customer credit scores and other qualitative factors as noted above. The loss rate is assigned individually on a customer by customer basis and the custom credit scores are then aggregated by vintage and used in our proprietary loss model to calculate the weighted-average loss rate used for determining the allowance balance. We monitor the collectability of our wireless service receivables as one overall pool. Wireline service receivables are disaggregated and pooled by the following types of customers and related contracts: consumer, small and medium business, 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 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. We consider multiple factors in determining the allowance as discussed above. Inventories Inventory consists of wireless and wireline equipment held for sale, which is carried at the lower of cost (determined principally on either an average cost or first-in, first-out basis) or net realizable value. Property, Plant and Equipment and Depreciation We record property, plant and equipment at cost. Property, plant and equipment are generally depreciated on a straight-line basis. Leasehold improvements are amortized over the shorter of the estimated life of the improvement or the remaining term of the related lease, calculated from the time the asset was placed in service. When depreciable assets are retired or otherwise disposed of, the related cost and accumulated depreciation are deducted from the property, plant and equipment accounts and any gains or losses on disposition are recognized in Selling, general and administrative expense. We capitalize and depreciate network software purchased or developed within property, plant and equipment assets. We also capitalize interest associated with the acquisition or construction of network-related assets. Capitalized interest is reported as a reduction in interest expense and depreciated as part of the cost of the network-related assets. Computer Software and Cloud Computing Costs We capitalize the cost of internal-use network and non-network software and defer the costs associated with cloud computing service arrangements that have a useful life and term in excess of one year. Subsequent additions, modifications or upgrades to internal-use network and non-network software are capitalized only to the extent that they add significant new functionality. Planning, software maintenance and training costs for internal-use software and cloud computing arrangements are expensed in the period in which they are incurred. We capitalize interest associated with the development of internal-use network and non-network software. Capitalized non-network internal-use software costs are amortized using the straight-line method over a period of 3 to 7 years and are included in Other intangible assets, net in our consolidated balance sheets. Costs incurred in implementing a cloud computing service arrangement are deferred during the application-development stage and recorded as Prepaid expense and other in our consolidated balance sheets. Once a project is substantially complete and ready for its intended use, we stop deferring the related cloud computing arrangement costs. For a discussion of our impairment policy for capitalized non-network software costs, see "Goodwill and Other Intangible Assets" below. See Note 4 for additional information of internal-use non-network software reflected in our consolidated balance sheets. Similar to capitalized software costs, deferred costs associated with cloud computing arrangements are subject to impairment testing. Goodwill and Other Intangible Assets Goodwill Goodwill is the excess of the acquisition cost of businesses over the fair value of the identifiable net assets acquired. Impairment testing for goodwill is performed annually in the fourth quarter or more frequently if impairment indicators are present. To determine if goodwill is potentially impaired, we have the option to perform a qualitative assessment. However, we may elect to bypass the qualitative assessment and perform a quantitative impairment test even if no indications of a potential impairment exist. It is our policy to perform quantitative impairment assessment at least every three years. Under the qualitative assessment, we consider several factors, including the enterprise value of the reporting unit from the last quantitative test and the excess of fair value over carrying value from this test, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations (including industry revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) margin results, projections and recent merger and acquisition activity), the recent and projected financial performance of the reporting unit, as well as other factors. The quantitative impairment test for goodwill is performed at the reporting unit level and compares the fair value of the reporting unit (calculated using a combination of a market approach and a discounted cash flow method, as a form of the income approach) to its carrying value. Estimated fair values of reporting units are Level 3 measures in the fair value hierarchy, see "Fair Value Measurements" discussion below for additional information. The market approach includes the use of comparative multiples of guideline companies to complement discounted cash flow results. The discounted cash flow method is based on the present value of two components, projected cash flows and a terminal value. The terminal value represents the expected normalized future cash flows of the reporting unit beyond the cash flows from the discrete projection period. The fair value of the reporting unit is calculated based on the sum of the present value of the cash flows from the discrete period and the present value of the terminal value. The discount rate represents our estimate of the weighted-average cost of capital, or expected return, that a marketplace participant would have required as of the valuation date. If the carrying value exceeds the fair value, an impairment charge is booked for the excess carrying value over fair value, limited to the total amount of goodwill of that reporting unit. During the fourth quarter each year, we update our three-year strategic planning review for each of our reporting units. Those plans consider current economic conditions and trends, estimated future operating results, our view of growth-rates and anticipated future economic and regulatory conditions. See Note 4 for additional information regarding our goodwill impairment testing. Intangible Assets Not Subject to Amortization A significant portion of our intangible assets are wireless licenses that provide our wireless operations with the exclusive right to utilize designated radio frequency spectrum to provide wireless communication services. While licenses are issued for only a fixed time, generally ten We test our wireless licenses for potential impairment annually or more frequently if impairment indicators are present. We have the option to first perform a qualitative assessment to determine whether it is necessary to perform a quantitative impairment test. However, we may elect to bypass the qualitative assessment in any period and proceed directly to performing the quantitative impairment test. It is our policy to perform quantitative impairment assessment at least every three years. As part of our qualitative assessment we consider several factors including the enterprise value of our combined wireless business, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations (including industry revenue and EBITDA margin results, projections and recent merger and acquisition activity), the recent and projected financial performance of our combined wireless business as a whole, as well as other factors including the result of our last quantitative assessment. See Note 4 for additional information regarding our impairment tests. Our quantitative impairment assessment consists of comparing the estimated fair value of our aggregate wireless licenses to the aggregated carrying amount as of the test date. Under our quantitative assessment, we estimate the fair value of our wireless licenses using the Greenfield approach. The Greenfield approach is an income based valuation approach that values the wireless licenses by calculating the cash flow generating potential of a hypothetical start-up company that goes into business with no assets except the wireless licenses to be valued. A discounted cash flow analysis is used to estimate what a marketplace participant would be willing to pay to purchase the aggregated wireless licenses as of the valuation date. If the estimated fair value of the aggregated wireless licenses is less than the aggregated carrying amount of the wireless licenses, then an impairment charge is recognized. Interest expense incurred while qualifying activities are performed to ready wireless licenses for their intended use is capitalized as part of wireless licenses. The capitalization period ends when the development is discontinued or substantially completed and the license is ready for its intended use. Wireless licenses can be purchased through public auctions conducted by the FCC. Deposits required to participate in these auctions and purchase licenses are recorded within Other assets in our consolidated balance sheets until the corresponding licenses are received and within Net cash used in investing activities in our consolidated statements of cash flows. Intangible Assets Subject to Amortization and Long-Lived Assets Our intangible assets that do not have indefinite lives (primarily customer lists and non-network internal-use software) are amortized over their estimated useful lives. All of our intangible assets subject to amortization and other long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If any indications of impairment are present, we would test for recoverability by comparing the carrying amount of the asset group to the net undiscounted cash flows expected to be generated from the asset group. If those net undiscounted cash flows do not exceed the carrying amount, we would perform the next step, which is to determine the fair value of the asset group and record an impairment, if any. We re-evaluate the useful life determinations for these intangible assets each year to determine whether events and circumstances warrant a revision to their remaining useful lives. See Note 4 for information related to the carrying amount of goodwill, wireless licenses and other intangible assets, as well as the major components and average useful lives of our other acquired intangible assets. Leases We lease network equipment including towers, distributed antenna systems, small cells, real estate, connectivity mediums which include dark fiber, equipment, and other various types of assets for use in our operations under both operating and finance leases. We assess whether an arrangement is a lease or contains a lease at inception. For arrangements considered leases or that contain a lease that is accounted for separately, we determine the classification and initial measurement of the right-of-use asset and lease liability at the lease commencement date, which is the date that the underlying asset becomes available for use. For both operating and finance leases, we recognize a right-of-use asset, which represents our right to use the underlying asset for the lease term, and a lease liability, which represents the present value of our obligation to make payments arising over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases. The incremental borrowing rate is determined using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. Management uses the unsecured borrowing rate and risk-adjusts that rate to approximate a collateralized rate, which is updated on a quarterly basis. In those circumstances where Verizon is the lessee, we account for non-lease components associated with our leases (e.g., common area maintenance costs) and lease components as a single lease component for substantially all of our asset classes. Additionally, in arrangements where we are the lessor, we have customer premise equipment for which we account for non-lease components (e.g., service revenue) and lease components as combined components under the revenue recog

Revenue and Contract Costs

Revenue and Contract Costs	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue and Contract Costs	Note 2. Revenue and Contract Costs We earn revenue from contracts with customers, primarily through the provision of telecommunications and other services and through the sale of wireless equipment. 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 (Enterprise and Public Sector, Business Markets and Other, and Wholesale) within Business. See Note 13 for additional information on revenue by segment, including Corporate and other. We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. We have elected the practical expedient within Topic 842, to combine the lease and non-lease components for those customer arrangements under Topic 606 that involve customer premise equipment where we are the lessor. Revenues from arrangements that were not accounted for under Topic 606 were approximately $3.1 billion, $2.9 billion and $3.2 billion for the years ended December 31, 2024, 2023 and 2022, 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 December 31, 2024, month-to-month service contracts represented approximately 95% of both our wireless postpaid contracts and our wireline Consumer and our Business Markets and Other contracts, compared to December 31, 2023, for which month-to-month service contracts represented approximately 95% of our wireless postpaid contracts and 94% of our wireline Consumer and our Business Markets and Other 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, or considered to contain terms ranging from greater than one month to up to thirty-six months (typically under a device payment plan or 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 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 twenty-nine years ending in September 2053 and have aggregate contract minimum payments totaling $1.8 billion. At December 31, 2024, the transaction price related to unsatisfied performance obligations that are expected to be recognized for 2025, 2026 and thereafter was $28.5 billion, $17.5 billion and $7.2 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 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. The following table presents information about receivables from contracts with customers: At December 31, At December 31, (dollars in millions) 2024 2023 Accounts Receivable (1) $ 9,225 $ 9,760 Device payment plan agreement receivables (2) 19,766 18,528 (1) Balances do not include receivables related to the following: activity associated with certain vendor agreements, leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and device payment plan agreement receivables presented separately. (2) Included in device payment plan agreement receivables presented in Note 8. Receivables derived from the sale of equipment on a device payment plan through an authorized agent are excluded. 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 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 assets increased $128 million during the year ended December 31, 2024. The change in contract assets was primarily due to new contracts and increases in sales promotions recognized upfront, driven by customer activity related to wireless and Fios services. These items were partially offset by reclassifications to accounts receivable due to billings on existing contracts and impairment charges of $53 million. Contract liabilities arise when we bill our customers and receive consideration in advance of providing the goods or services promised in the contract. We typically bill service one month in advance, which is the primary component of the contract liability balance. Contract liabilities are recognized as revenue when services are provided to the customer. The contract liability balances are presented in our consolidated balance sheets as Other current liabilities and Other liabilities. Contract liabilities increased $776 million during the year ended December 31, 2024. The change in contract liabilities was primarily due to increases in sales promotions recognized over time, upfront fees and wireless pricing actions. Revenue recognized during the years ended December 31, 2024 and 2023 related to contract liabilities existing at January 1, 2024 and 2023 were $5.0 billion and $4.9 billion, respectively, as performance obligations related to services were satisfied. The balance of contract assets and contract liabilities recorded in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2024 2023 Assets Prepaid expenses and other $ 621 $ 546 Other assets 321 268 Total Contract Assets $ 942 $ 814 Liabilities Other current liabilities $ 7,492 $ 6,955 Other liabilities 2,186 1,947 Total Contract Liabilities $ 9,678 $ 8,902 Contract Costs As discussed in Note 1, 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 consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2024 2023 Assets Prepaid expenses and other $ 2,932 $ 2,756 Other assets 2,808 2,639 Total $ 5,740 $ 5,395 For the years ended December 31, 2024 and 2023, we recognized expense of $3.4 billion and $3.2 billion, respectively, associated with the amortization of deferred contract costs, primarily within Selling, general and administrative expense in our consolidated statements of income. We assess our deferred contract costs for impairment on a quarterly basis. We recognize an impairment charge to the extent the carrying amount of a deferred cost exceeds the remaining amount of consideration we expect to receive in exchange for the goods and services related to the cost, less the expected costs related directly to providing those goods and services that have not yet been recognized as expenses. There were no impairment charges recognized for the year ended December 31, 2024. There were insignificant impairment charges recognized for the year ended December 31, 2023.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Note 3. Acquisitions and Divestitures Spectrum License Transactions In February 2021, the FCC concluded Auction 107 for C-Band wireless spectrum. 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 $7.5 billion. During 2024, 2023 and 2022, we made payments of $269 million, $4.3 billion and $1.6 billion respectively, for obligations related to clearing costs and accelerated clearing incentives. 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 timeframe. During 2022, Verizon incurred costs associated with these agreements of approximately $340 million, of which $310 million was paid as of December 31, 2022 and the remainder was paid in 2023. This early clearance accelerated Verizon's access to more spectrum in a number of key markets to support its 5G network initiatives. On October 17, 2024, Verizon entered into a license purchase agreement to acquire select spectrum licenses of United States Cellular Corporation and certain of its subsidiaries (UScellular) for total consideration of $1.0 billion, subject to certain potential adjustments. The closing of this transaction is subject to the receipt of regulatory approvals and other closing conditions, including the consummation of UScellular's proposed sale of its wireless operations and select spectrum assets to T-Mobile US, Inc., and the termination of certain post-closing arrangements with respect to that sale. Business Acquisitions and Divestitures TracFone Wireless, Inc. On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). 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, 57,596,544 shares of common stock of the Company 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 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 $560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. During 2024, 2023 and 2022, Verizon made payments of $52 million, $257 million and $188 million, respectively, related to the contingent consideration, which are reflected in Cash flows from financing activities in our consolidated statements of cash flows. During 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. Frontier Communications Parent, Inc. On September 4, 2024, Verizon entered into an Agreement and Plan of Merger (the Merger Agreement) to acquire Frontier Communications Parent, Inc. (Frontier), a U.S. provider of broadband internet and other communication services. The transaction is structured as a merger of the Company's subsidiary with and into Frontier, as a result of which Frontier will become a wholly owned subsidiary of the Company and shares of Frontier common stock outstanding immediately prior to the effective time of merger (subject to certain limited exceptions) will be cancelled and converted into the right to receive a per share merger consideration of $38.50, in cash. In November 2024, Frontier shareholders approved the transaction. Consummation of the transaction is subject to the receipt of certain regulatory approvals and other customary closing conditions. Under certain circumstances, if the Merger Agreement is terminated, Frontier may be required to pay Verizon a termination fee of $320 million. Under certain other specified circumstances, Verizon may be required to pay Frontier a termination fee of $590 million.

Wireless Licenses, Goodwill and

Wireless Licenses, Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Wireless Licenses, Goodwill and Other Intangible Assets	Note 4. Wireless Licenses, Goodwill and Other Intangible Assets Wireless Licenses The carrying amounts of Wireless licenses are as follows: (dollars in millions) At December 31, 2024 2023 Wireless licenses $ 156,613 $ 155,667 During 2024 and 2023, we made payments of $269 million and $4.3 billion, respectively, for obligations related to clearing costs and accelerated clearing incentives for wireless licenses in connection with Auction 107. See Note 3 for additional information. At December 31, 2024 and 2023, approximately $10.1 billion and $15.0 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded $616 million and $1.4 billion of capitalized interest on wireless licenses for the years ended December 31, 2024 and 2023, respectively. During 2024 and 2023, we renewed various wireless licenses in accordance with FCC regulations with an average renewal period of 10 years. See Note 1 for additional information. As discussed in Note 1, we test our wireless licenses for potential impairment annually or more frequently if impairment indicators are present. In 2023, we performed a qualitative impairment assessment, which indicated it was more likely than not that the fair value of our wireless licenses remained above their carrying amount and, therefore, did not result in an impairment. In 2024, we performed a quantitative impairment assessment, in accordance with our policy, which compared the estimated fair value of our aggregate wireless licenses, estimated using the Greenfield approach, to the aggregate carrying amount of the licenses as of the test date. Our annual assessment in 2024 indicated that the fair value of our wireless licenses exceeded the carrying value and, therefore, did not result in an impairment. Our strategy requires significant capital investments primarily to acquire wireless spectrum, put the spectrum into service, provide additional capacity for growth in our networks, invest in the fiber that supports our businesses, evolve and maintain our networks and develop and maintain significant advanced information technology systems and data system capabilities. Goodwill Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Consumer Business Other Total Balance at January 1, 2023 (1) $ 21,142 $ 7,502 $ 27 $ 28,671 Acquisitions 35 — — 35 Verizon Business Group goodwill impairment — (5,841) — (5,841) Reclassifications, adjustments and other (2) — 5 (27) (22) Balance at December 31, 2023 (3) 21,177 1,666 — 22,843 Reclassifications, adjustments and other — (2) — (2) Balance at December 31, 2024 (3) $ 21,177 $ 1,664 $ — $ 22,841 (1) Goodwill balances are net of an accumulated impairment charge of $16 million presented within both Other and Total. (2) Includes a goodwill impairment charge of $27 million related to non-strategic businesses presented within Other, recorded in Selling, general and administrative expense in our consolidated statement of income for the year ended December 31, 2023. (3) Goodwill balances are net of accumulated impairment charges of $5.8 billion, $43 million and $5.9 billion presented within Business, Other and Total, respectively. During the fourth quarter of 2023, we performed a qualitative impairment assessment for our Consumer reporting unit. Our qualitative assessment indicated that it was more likely than not that the fair value of our Consumer reporting unit exceeded its carrying value and, therefore, did not result in an impairment. During the fourth quarter of 2024, we performed a quantitative impairment assessment for our Consumer reporting unit in accordance with our policy. We applied a combination of a market approach and a discounted cash flow method reflecting current assumptions and inputs, including our revised projections, discount rate and expected growth rates. Our assessment indicated that the fair value of our Consumer reporting unit exceeded its carrying value and, therefore, did not result in an impairment. During the fourth quarter of 2023, we performed a quantitative impairment assessment for our Business reporting unit given the low excess of fair value over carrying value identified in our 2022 annual impairment assessment and increased competitive and market pressures experienced throughout 2023. These pressures resulted in lower projected cash flows primarily driven by secular declines in wireline services and products across our Business customer groups. In connection with Verizon’s annual budget process in the fourth quarter of 2023, leadership completed a comprehensive five-year strategic planning review of our Business reporting unit resulting in declines in financial projections driven by market dynamics as compared to the prior year five-year strategic planning cycle. The revised projections were used as a key input into the Business reporting unit’s annual goodwill impairment test performed in the fourth quarter of 2023. In addition, changes in the macroeconomic environment, including interest rate and inflationary pressures also impacted the fair value of the reporting unit. We applied a combination of a market approach and a discounted cash flow method reflecting current assumptions and inputs, including our revised projections, discount rate and expected growth rates, which resulted in the determination that the fair value of our Business reporting unit was less than its carrying amount. As a result, in the fourth quarter of 2023, we recorded a noncash goodwill impairment charge of approximately $5.8 billion ($5.8 billion after-tax) in our consolidated statement of income. During the fourth quarter of 2024, we performed a quantitative impairment assessment for our Business reporting unit given the impairment of the Business reporting unit's goodwill in the prior year. In addition, the Business reporting unit has continued to experience competitive and market pressures throughout 2024, that may persist over the near term. We applied a combination of a market approach and a discounted cash flow method reflecting current assumptions and inputs, including our revised projections, discount rate and expected growth rates, which indicated that the fair value of our Business reporting unit exceeded its carrying value and, therefore, did not result in an impairment. We do not anticipate reasonable changes in significant assumptions to change the outcome of the quantitative impairment assessment. However, management believes there is a continued risk that our Business reporting unit may be required to recognize an impairment charge in the future. A projected sustained decline in the reporting unit's revenues and earnings could have a significant negative impact on its fair value and could result in impairment charges. Such a decline could be driven by, among other things: (1) decreases in sales volumes or long-term growth rate as a result of competitive pressures or other factors; or (2) the inability to achieve or delays in achieving the goals in strategic initiatives. Adverse changes to macroeconomic factors, such as increases in long-term interest rates, would also negatively impact the fair value of the reporting unit. Other Intangible Assets The following table displays the composition of Other intangible assets, net as well as the respective amortization period: (dollars in millions) 2024 2023 At December 31, Gross Accumulated Net Gross Amount Accumulated Net Customer lists (5 to 13 years) $ 4,242 $ (2,629) $ 1,613 $ 4,335 $ (2,193) $ 2,142 Non-network internal-use software (3 to 7 years) 28,136 (19,743) 8,393 25,524 (17,949) 7,575 Other (4 to 25 years) 2,664 (1,541) 1,123 2,656 (1,316) 1,340 Total $ 35,042 $ (23,913) $ 11,129 $ 32,515 $ (21,458) $ 11,057 The amortization expense for Other intangible assets was as follows: Years (dollars in millions) 2024 $ 2,781 2023 2,687 2022 2,507 Estimated annual amortization expense for Other intangible assets is as follows: Years (dollars in millions) 2025 $ 2,825 2026 2,571 2027 2,025 2028 1,549 2029 887

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 5. Property, Plant and Equipment The following table displays the details of Property, plant and equipment, which is stated at cost: (dollars in millions) At December 31, Lives (years) 2024 2023 Land - $ 740 $ 751 Buildings and equipment 7 to 45 39,130 36,940 Central office and other network equipment 3 to 15 176,680 170,161 Antennas, cable, conduit, poles and towers 4 to 50 82,810 78,355 Leasehold improvements 5 to 20 10,562 10,355 Work in progress - 9,424 12,092 Furniture, vehicles and other 3 to 20 12,060 11,454 331,406 320,108 Less accumulated depreciation 222,884 211,798 Property, plant and equipment, net $ 108,522 $ 108,310

Leasing Arrangements

Leasing Arrangements	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leasing Arrangements	Note 6. Leasing Arrangements We enter into various lease arrangements for network equipment including towers, distributed antenna systems, small cells, real estate and connectivity mediums including dark fiber, equipment, and other various types of assets for use in our operations. Our leases have remaining lease terms ranging from 1 year to 30 years, some of which include options that we can elect to extend the leases term for up to 25 years, and some of which include options to terminate the leases. For the majority of leases entered into during the current period, we have concluded it is not reasonably certain that we would exercise the options to extend the lease or not terminate the lease. Therefore, as of the lease commencement date, our lease terms generally do not include these options. We include options to extend the lease when it is reasonably certain that we will exercise that option. During December 2024, we completed a transaction with Vertical Bridge REIT, LLC (Vertical Bridge) pursuant to which Vertical Bridge obtained the exclusive rights to lease, operate and manage over 6,000 wireless towers from Verizon in exchange for an upfront payment of $2.8 billion. Under the terms of the agreement, Vertical Bridge has exclusive rights to lease, operate and manage the towers over an average term of approximately 30 years, with the option to acquire the towers at the end of the lease terms. We have leased back a portion of the capacity on the towers from Vertical Bridge for an initial term of 10 years, with eight optional renewal terms of five years each, subject to certain early termination rights. We continue to include the towers in Property, plant and equipment, net in our consolidated balance sheets and depreciate them accordingly. The upfront payment, which is primarily included within Other liabilities on our consolidated balance sheet, is accounted for as prepaid rent and as a financing obligation. We recorded prepaid rent of $2.0 billion related to the portion of the towers for which the right-of-use has passed to Vertical Bridge, which is reflected in Cash flows from operating activities in our consolidated statements of cash flows. In addition, we recorded a financing obligation of $830 million related to the portion of the towers that we continue to occupy and use for network operations, which is reflected in Cash flows from financing activities in our consolidated statements of cash flows. During March 2015, we completed a transaction with American Tower Corporation (American Tower) pursuant to which American Tower acquired the exclusive rights to lease and operate approximately 11,300 of our wireless towers for an upfront payment of $5.0 billion. We have subleased capacity on the towers from American Tower for a minimum of 10 years at current market rates in 2015, with options to renew. We continue to include the towers in Property, plant and equipment, net in our consolidated balance sheets and depreciate them accordingly. In addition to the rights to lease and operate the towers, Vertical Bridge and American Tower assumed the interest in the underlying ground leases related to these towers. While Vertical Bridge and American Tower can renegotiate the terms of and are responsible for paying the ground leases, we are still the primary obligor for these leases and accordingly, the present value of these ground leases are included in our operating lease right-of-use assets and operating lease liabilities. We do not expect to be required to make ground lease payments unless Vertical Bridge or American Tower defaults, which we determined to be remote. The components of net lease cost were as follows: (dollars in millions) Years Ended December 31, Classification 2024 2023 2022 Operating lease cost (1) Cost of services $ 5,607 $ 5,432 $ 5,345 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 329 259 224 Interest on lease liabilities Interest expense 98 69 36 Short-term lease cost (1) Cost of services 21 29 23 Variable lease cost (1) Cost of services 310 313 294 Sublease income Service revenues and other (216) (210) (199) Total net lease cost $ 6,149 $ 5,892 $ 5,723 (1) All operating lease costs, including short-term and variable lease costs, are split between Cost of services and Selling, general and administrative expense in the consolidated statements of income based on the use of the facility or equipment that the rent is being paid on. See Note 1 for additional information. Variable lease costs represent payments that are dependent on a rate or index, or on usage of the asset. Supplemental disclosure for the statements of cash flows related to operating and finance leases were as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Cash Flows from Operating Activities Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ (5,067) $ (4,929) $ (4,490) Operating cash flows for finance leases (98) (69) (36) Cash Flows from Financing Activities Financing cash flows for finance leases (794) (612) (449) Supplemental lease cash flow disclosures Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 4,385 2,634 2,392 Right-of-use assets obtained in exchange for new finance lease liabilities 1,051 968 832 Supplemental disclosures for the balance sheet related to finance leases were as follows: (dollars in millions) At December 31, 2024 2023 Assets Property, plant and equipment, net $ 1,692 $ 1,459 Liabilities Debt maturing within one year $ 894 $ 753 Long-term debt 1,455 1,338 Total Finance lease liabilities $ 2,349 $ 2,091 The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows: At December 31, 2024 2023 Weighted-average remaining lease term (years) Operating leases 8 8 Finance leases 3 3 Weighted-average discount rate Operating leases 4.1 % 3.6 % Finance leases 4.8 % 2.9 % The following table presents the maturity analysis of operating and finance lease liabilities as of December 31, 2024: (dollars in millions) Years Operating Leases Finance Leases 2025 $ 5,013 $ 954 2026 4,685 714 2027 4,392 457 2028 3,004 248 2029 2,505 116 Thereafter 9,451 53 Total lease payments 29,050 2,542 Less interest 4,707 193 Present value of lease liabilities 24,343 2,349 Less current obligation 4,415 894 Long-term obligation at December 31, 2024 $ 19,928 $ 1,455 As of December 31, 2024, we have contractually obligated lease payments amounting to $1.4 billion primarily for office facility operating leases and small cell colocation and fiber operating leases that have not yet commenced. We have legally obligated lease payments for various other operating leases that have not yet commenced for which the total obligation was not significant. We have certain rights and obligations for these leases, but have not recognized an operating lease right-of-use asset or an operating lease liability since they have not yet commenced.
Leasing Arrangements	Note 6. Leasing Arrangements We enter into various lease arrangements for network equipment including towers, distributed antenna systems, small cells, real estate and connectivity mediums including dark fiber, equipment, and other various types of assets for use in our operations. Our leases have remaining lease terms ranging from 1 year to 30 years, some of which include options that we can elect to extend the leases term for up to 25 years, and some of which include options to terminate the leases. For the majority of leases entered into during the current period, we have concluded it is not reasonably certain that we would exercise the options to extend the lease or not terminate the lease. Therefore, as of the lease commencement date, our lease terms generally do not include these options. We include options to extend the lease when it is reasonably certain that we will exercise that option. During December 2024, we completed a transaction with Vertical Bridge REIT, LLC (Vertical Bridge) pursuant to which Vertical Bridge obtained the exclusive rights to lease, operate and manage over 6,000 wireless towers from Verizon in exchange for an upfront payment of $2.8 billion. Under the terms of the agreement, Vertical Bridge has exclusive rights to lease, operate and manage the towers over an average term of approximately 30 years, with the option to acquire the towers at the end of the lease terms. We have leased back a portion of the capacity on the towers from Vertical Bridge for an initial term of 10 years, with eight optional renewal terms of five years each, subject to certain early termination rights. We continue to include the towers in Property, plant and equipment, net in our consolidated balance sheets and depreciate them accordingly. The upfront payment, which is primarily included within Other liabilities on our consolidated balance sheet, is accounted for as prepaid rent and as a financing obligation. We recorded prepaid rent of $2.0 billion related to the portion of the towers for which the right-of-use has passed to Vertical Bridge, which is reflected in Cash flows from operating activities in our consolidated statements of cash flows. In addition, we recorded a financing obligation of $830 million related to the portion of the towers that we continue to occupy and use for network operations, which is reflected in Cash flows from financing activities in our consolidated statements of cash flows. During March 2015, we completed a transaction with American Tower Corporation (American Tower) pursuant to which American Tower acquired the exclusive rights to lease and operate approximately 11,300 of our wireless towers for an upfront payment of $5.0 billion. We have subleased capacity on the towers from American Tower for a minimum of 10 years at current market rates in 2015, with options to renew. We continue to include the towers in Property, plant and equipment, net in our consolidated balance sheets and depreciate them accordingly. In addition to the rights to lease and operate the towers, Vertical Bridge and American Tower assumed the interest in the underlying ground leases related to these towers. While Vertical Bridge and American Tower can renegotiate the terms of and are responsible for paying the ground leases, we are still the primary obligor for these leases and accordingly, the present value of these ground leases are included in our operating lease right-of-use assets and operating lease liabilities. We do not expect to be required to make ground lease payments unless Vertical Bridge or American Tower defaults, which we determined to be remote. The components of net lease cost were as follows: (dollars in millions) Years Ended December 31, Classification 2024 2023 2022 Operating lease cost (1) Cost of services $ 5,607 $ 5,432 $ 5,345 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 329 259 224 Interest on lease liabilities Interest expense 98 69 36 Short-term lease cost (1) Cost of services 21 29 23 Variable lease cost (1) Cost of services 310 313 294 Sublease income Service revenues and other (216) (210) (199) Total net lease cost $ 6,149 $ 5,892 $ 5,723 (1) All operating lease costs, including short-term and variable lease costs, are split between Cost of services and Selling, general and administrative expense in the consolidated statements of income based on the use of the facility or equipment that the rent is being paid on. See Note 1 for additional information. Variable lease costs represent payments that are dependent on a rate or index, or on usage of the asset. Supplemental disclosure for the statements of cash flows related to operating and finance leases were as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Cash Flows from Operating Activities Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ (5,067) $ (4,929) $ (4,490) Operating cash flows for finance leases (98) (69) (36) Cash Flows from Financing Activities Financing cash flows for finance leases (794) (612) (449) Supplemental lease cash flow disclosures Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 4,385 2,634 2,392 Right-of-use assets obtained in exchange for new finance lease liabilities 1,051 968 832 Supplemental disclosures for the balance sheet related to finance leases were as follows: (dollars in millions) At December 31, 2024 2023 Assets Property, plant and equipment, net $ 1,692 $ 1,459 Liabilities Debt maturing within one year $ 894 $ 753 Long-term debt 1,455 1,338 Total Finance lease liabilities $ 2,349 $ 2,091 The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows: At December 31, 2024 2023 Weighted-average remaining lease term (years) Operating leases 8 8 Finance leases 3 3 Weighted-average discount rate Operating leases 4.1 % 3.6 % Finance leases 4.8 % 2.9 % The following table presents the maturity analysis of operating and finance lease liabilities as of December 31, 2024: (dollars in millions) Years Operating Leases Finance Leases 2025 $ 5,013 $ 954 2026 4,685 714 2027 4,392 457 2028 3,004 248 2029 2,505 116 Thereafter 9,451 53 Total lease payments 29,050 2,542 Less interest 4,707 193 Present value of lease liabilities 24,343 2,349 Less current obligation 4,415 894 Long-term obligation at December 31, 2024 $ 19,928 $ 1,455 As of December 31, 2024, we have contractually obligated lease payments amounting to $1.4 billion primarily for office facility operating leases and small cell colocation and fiber operating leases that have not yet commenced. We have legally obligated lease payments for various other operating leases that have not yet commenced for which the total obligation was not significant. We have certain rights and obligations for these leases, but have not recognized an operating lease right-of-use asset or an operating lease liability since they have not yet commenced.

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Note 7. Debt Outstanding long-term debt obligations as of December 31, 2024 and 2023 are as follows: (dollars in millions) At December 31, Maturities Interest 2024 2023 Verizon Communications < 5 Years 0.75 - 6.94 $ 29,325 $ 33,316 5-10 Years 1.50 - 7.88 33,851 37,229 > 10 Years 1.13 - 8.95 52,719 55,355 < 5 Years Floating (1) 1,171 2,099 5-10 Years Floating (1) 1,735 2,029 Alltel Corporation < 5 Years 6.80 38 N/A 5-10 Years 6.80 - 7.88 56 94 Operating telephone company subsidiaries – debentures < 5 Years 6.00 - 8.38 286 79 5-10 Years 5.13 - 8.75 328 535 Other subsidiaries – asset-backed debt < 5 Years 0.50 - 6.09 16,363 14,048 < 5 Years Floating (1) 9,805 8,163 Finance lease obligations (average rate of 4.8% and 2.9% in 2024 and 2023, respectively) (2) 2,349 2,091 Vendor financing arrangements (2) 85 64 Unamortized discount, net of premium (3,604) (3,812) Unamortized debt issuance costs (558) (616) Total long-term debt, including current maturities 143,949 150,674 Less long-term debt maturing within one year 22,568 12,973 Total long-term debt $ 121,381 $ 137,701 Long-term debt maturing within one year $ 22,568 $ 12,973 Add short-term vendor financing arrangements (2) 65 — Debt maturing within one year $ 22,633 $ 12,973 Add long-term debt 121,381 137,701 Total debt $ 144,014 $ 150,674 N/A - not applicable (1) For the period ending December 2024, the debt obligations bore interest at floating rates, including floating rates associated with the Secured Overnight Financing Rate (SOFR) for the interest period plus an applicable interest margin per annum. Floating rates associated with SOFR for the interest payments made in December 2024 ranged from 4.598% to 5.556%. (2) Finance lease and vendor financing obligations are part of alternative financing arrangements. Maturities of long-term debt (secured and unsecured) outstanding, including current maturities, excluding finance lease obligations and unamortized debt issuance costs, at December 31, 2024 are as follows: Years (dollars in millions) 2025 $ 21,709 2026 7,823 2027 9,158 2028 11,592 2029 8,673 Thereafter 83,203 During 2024, we received $15.6 billion of proceeds from long-term borrowings, which included $12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. During 2023, we received $8.6 billion of proceeds from long-term borrowings, which included $6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. 2024 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 the Company and its subsidiaries that occurred during the year ended December 31, 2024. Exchange Offers (dollars in millions) Principal Amount Exchanged Principal Amount Issued Verizon 0.850% - 4.329% notes and floating rate notes, due 2025 - 2028 $ 2,256 $ — Verizon 4.780% notes due 2035 (1) — 2,191 Total (2) $ 2,256 $ 2,191 (1) The principal amount issued in exchange does not include either an insignificant amount of cash paid in lieu of the issuance of fractional new notes or accrued and unpaid interest paid on the old notes accepted for exchange to the date of exchange. (2) The debt exchange offers above meet the criteria to be accounted for as a modification of debt. As a result, the excess of the principal amount of notes exchanged over the principal amount of new notes issued of $65 million was recorded as a premium to Long-term debt in the consolidated balance sheets. Tender Offers (dollars in millions) Principal Amount Purchased Cash Consideration (1) Verizon 0.875% - 3.250% notes due 2025 - 2028 € 1,981 $ 2,237 Verizon 0.850% - 3.376% notes and floating rate notes, due 2025 - 2026 $ 3,314 3,267 Total $ 5,504 (1) The total cash consideration includes the tender offer consideration, plus any accrued and unpaid interest to the date of purchase. In addition, for securities denominated in a currency other than the U.S. dollar, cash consideration is shown on a U.S. dollar equivalent basis and includes the amount payable per the derivatives entered into in connection with the transaction. See Note 9 for additional information on cross currency swap transactions related to the transaction. Repayments and Repurchases (dollars in millions) Principal Repaid/ Repurchased Amount Paid (1) Verizon 1.625% notes due 2024 € 685 $ 840 Verizon 4.073% notes due 2024 £ 413 582 Verizon 0.750% notes due 2024 $ 999 1,003 Verizon floating rate notes due 2024 95 96 Verizon 3.500% notes due 2024 1,161 1,182 Open market repurchases of various Verizon notes (2) 1,255 985 Total $ 4,688 (1) Represents amount paid to repay or repurchase, including any accrued interest. In addition, for securities denominated in a currency other than the U.S. dollar, amount paid is shown on a U.S. dollar equivalent basis and includes the amount payable per the derivatives entered into in connection with the transaction. See Note 9 for additional information on cross currency swap transactions related to the transaction. (2) During 2024, we recorded gains of $267 million in connection with the open market repurchases, which were reflected within Other income (expense), net in our consolidated statement of income. Issuances (dollars in millions) Principal Amount Issued Net Proceeds (1) Verizon 3.500% notes due 2032 € 1,000 $ 1,062 Verizon 3.750% notes due 2036 € 1,000 1,061 Verizon 5.500% notes due 2054 (2) $ 1,000 980 Total $ 3,103 (1) Net proceeds were net of underwriting discounts and other issuance costs. In addition, for securities denominated in a currency other than the U.S. dollar, net proceeds are shown on a U.S. dollar equivalent basis. See Note 9 for additional information on cross currency swap transactions related to the issuances. (2) An amount equal to the net proceeds from these notes 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 May 1, 2023 through the maturity date of the notes. Commercial Paper Program In 2024, we issued $27.5 billion in net proceeds and made $27.5 billion in principal repayments of commercial paper. These transactions are reflected within Cash flows from financing activities in our consolidated statements of cash flows on a net basis. As of December 31, 2024, we had no commercial paper outstanding. Asset-Backed Debt As of December 31, 2024, the carrying value of our asset-backed debt was $26.1 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 the Company, and certain other Company affiliates (collectively, the Originators) transfer device payment plan agreement receivables and certain other receivables (collectively referred to as certain receivables) or a participation interest in certain other receivables to one of the ABS Entities, which in turn transfers such receivables and participation interest 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 receivables and participation interest, and future collections on such receivables and underlying receivables related to such participation interest. These receivables and participation interest 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 certain receivables and participation interest, 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, the Company has agreed to guarantee certain of the payment obligations of Cellco and the Originators to the ABS Entities. Cash collections on the receivables and on the underlying receivables related to the participation interest collateralizing our asset-backed debt securities are required at certain specified times to be placed into segregated accounts. Deposits to the segregated accounts are considered restricted cash and are included in Prepaid expenses and other and Other assets in our consolidated balance sheets. Proceeds from our asset-backed debt transactions are reflected in Cash flows from financing activities in our consolidated statements of cash flows. The asset-backed debt issued is included in Debt maturing within one year and Long-term debt in our consolidated balance sheets. ABS Notes During the year ended December 31, 2024, we completed the following ABS Notes transactions: (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued January 2024 Series 2024-1 A-1a Senior class notes 5.000 1.92 $ 835 A-1b Senior class notes Compounded SOFR + 0.650 1.92 279 B Junior class notes 5.240 1.92 — C Junior class notes 5.490 1.92 51 Series 2024-2 A Senior class notes 4.830 4.92 668 B Junior class notes 5.080 4.92 51 C Junior class notes 5.320 4.92 31 January 2024 total 1,915 April 2024 Series 2024-3 A-1a Senior class notes 5.340 2.99 605 A-1b Senior class notes Compounded SOFR + 0.580 2.99 175 B Junior class notes 5.540 2.99 59 C Junior class notes 5.730 2.99 36 April 2024 total 875 June 2024 Series 2024-4 A-1a Senior class notes 5.210 1.98 289 A-1b Senior class notes Compounded SOFR + 0.550 1.98 246 B Junior class notes 5.400 1.98 41 C Junior class notes 5.600 1.98 25 Series 2024-5 A Senior class notes 5.000 4.98 512 B Junior class notes 5.250 4.98 39 C Junior class notes 5.490 4.98 24 June 2024 total 1,176 September 2024 Series 2024-6 A-1a Senior class notes 4.170 2.92 1,069 A-1b Senior class notes Compounded SOFR + 0.670 2.92 267 B Junior class notes 4.420 2.92 — C Junior class notes 4.670 2.92 61 Series 2024-7 A Senior class notes 4.350 4.92 535 B Junior class notes 4.600 4.92 — C Junior class notes 4.840 4.92 25 September 2024 total 1,957 (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued November 2024 Series 2024-8 A-1a Senior class notes 4.620 2.98 $ 816 A-1b Senior class notes Compounded SOFR + 0.420 2.98 75 B Junior class notes 4.820 2.98 68 C Junior class notes 4.990 2.98 41 November 2024 total 1,000 Total $ 6,923 Under the terms of each series of ABS Notes outstanding as of December 31, 2024, there is a revolving period of up to two years, three years, or five years, as applicable, during which we may transfer additional receivables to the ABS Entity. During the years ended December 31, 2024 and 2023 , we made aggregate principal repayments of $4.5 billion and $3.7 billion, respectively, in connection with anticipated redemptions of ABS Notes and notes that have entered the amortization period, including payments in connection with any note redemptions. In January 2025, we issued $1.1 billion aggregate principal amount of two series of senior and junior ABS Notes, with a blended interest rate of approximately 4.740% and 4.970%, through an ABS Entity. In addition, in connection with an anticipated redemption of ABS Notes, we made a principal repayment, in whole, for $800 million. ABS Financing Facilities Under the two loan agreements outstanding in connection with the ABS Financing Facility originally entered into in 2021 and most recently renewed in 2023 (2021 ABS Financing Facility) we prepaid an aggregate of $900 million in January 2024, borrowed an additional $600 million in March 2024, prepaid an aggregate of $900 million in April 2024, borrowed an additional $225 million in June 2024, prepaid an aggregate of $1.2 billion in August 2024, prepaid an aggregate of $950 million in September 2024, borrowed an additional $450 million in September 2024, borrowed an additional $1.6 billion in October 2024 and borrowed an additional $650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $8.0 billion as of December 31, 2024. Under the loan agreement outstanding in connection with the ABS Financing Facility originally entered into in 2022 and initially renewed in 2023 (2022 ABS Financing Facility), we borrowed an additional $1.1 billion in June 2024. In December 2024, we renewed the loan agreement in connection with the 2022 ABS Financing Facility which reset the revolving period by one year and we borrowed an additional $1.0 billion. T he aggregate outstanding balance under the 2022 ABS Financing Facility was $5.0 billion as of December 31, 2024 . Variable Interest Entities The ABS Entities meet the definition of a VIE for which we have determined that we are the primary beneficiary as we have both the power to direct the activities of the entity that most significantly impact the entity’s performance and the obligation to absorb losses or the right to receive benefits of the entity. Therefore, the assets, liabilities and activities of the ABS Entities are consolidated in our financial results and are included in amounts presented on the face of our consolidated balance sheets. The assets and liabilities related to our asset-backed debt arrangements included in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2024 2023 Assets Accounts receivable, net $ 18,339 $ 14,550 Prepaid expenses and other 322 1,288 Other assets 11,647 11,682 Liabilities Accounts payable and accrued liabilities 37 29 Debt maturing within one year 17,312 7,483 Long-term debt 8,827 14,700 The Accounts receivable, net amounts above do not include underlying receivables for which a participation interest has been transferred to the ABS Entities. See Note 8 for additional information on certain receivables and participation interest used to secure asset-backed debt. Long-Term Credit Facilities At December 31, 2024 (dollars in millions) Maturities Facility Capacity Unused Capacity Principal Amount Outstanding Verizon revolving credit facility (1) 2028 $ 12,000 $ 11,963 $ — Various export credit facilities (2) 2025 - 2031 10,000 — 5,441 Total $ 22,000 $ 11,963 $ 5,441 (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. As of December 31, 2024, there have been no drawings against the revolving credit facility since its inception. (2) During 2024, there were no drawings from these facilities. During 2023, we drew down $1.0 billion from these facilities. Borrowings under certain of these facilities are amortized 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. In March 2024, we amended our $9.5 billion revolving credit facility to increase the capacity to $12.0 billion and extended its maturity to 2028. Non-Cash Transactions During the years ended December 31, 2024, 2023 and 2022, we financed, primarily through alternative financing arrangements, the purchase of approximately $1.6 billion, $1.3 billion and $832 million, respectively, of long-lived assets consisting primarily of network equipment. As of December 31, 2024 and 2023, $2.5 billion and $2.2 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 consolidated statements of cash flows. Net Debt Extinguishment Gains (Losses) During the years ended December 31, 2024 and 2023, we recorded net debt extinguishment gains of $385 million and $308 million, respectively. During the year ended December 31, 2022, we recorded net debt extinguishment losses of $1.1 billion. The net gains and losses are recorded in Other income (expense), net in our consolidated statements of income. The total non-cash debt extinguishment gains are reflected within Other, net cash flow from operating activities, and the total cash payments to extinguish the debt are reflected within Other, net cash flow from financing activities in our consolidated statements of cash flows. Guarantees We guarantee the debentures of our operating telephone company subsidiaries. As of December 31, 2024, $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 the Company. Debt Covenants

Device Payment Plan Agreement a

Device Payment Plan Agreement and Wireless Service Receivables	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Device Payment Plan Agreement and Wireless Service Receivables	Note 8. Device Payment Plan Agreement and Wireless Service Receivables The following table presents information about accounts receivable, net of allowances, recorded in our consolidated balance sheet: At December 31, 2024 (dollars in millions) Device payment plan agreement Wireless Other receivables (1) Total Accounts receivable $ 15,839 $ 5,809 $ 5,613 $ 27,261 Less Allowance for credit losses 698 240 214 1,152 Accounts receivable, net of allowance $ 15,141 $ 5,569 $ 5,399 $ 26,109 (1) Other receivables primarily include wireline and other receivables, of which the allowances are individually insignificant. Included in Other assets and Accounts receivable, net at December 31, 2024 are net device payment plan agreement receivables, net wireless service receivables and net other receivables of $29.9 billion, which have been transferred to ABS Entities and continue to be reported in our consolidated balance sheet. Included in Other Assets and Accounts receivable, net at December 31, 2023 are net device payment plan agreement receivables and net wireless service receivables of $26.1 billion, which have been transferred to ABS Entities and continue to be reported in our consolidated balance sheet. Included in Accounts receivable, net at December 31, 2024 and December 31, 2023 are net other receivables of $1.2 billion and $911 million, respectively, on which a participation interest has been transferred to ABS Entities and continue to be reported in our consolidated balance sheets. See Note 7 for additional information. We believe the carrying value of these receivables approximate their fair value using a Level 3 expected cash flow model. 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 generally 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. While we no longer offer Consumer customers fixed-term subsidized service plans for devices, 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 both the current and non-current portions of device payment plan agreement receivables, net, recognized in our consolidated balance sheets: (dollars in millions) At December 31, 2024 2023 Device payment plan agreement receivables, gross $ 31,308 $ 29,206 Unamortized imputed interest (975) (758) Device payment plan agreement receivables, at amortized cost 30,333 28,448 Allowance (1) (1,315) (1,151) Device payment plan agreement receivables, net $ 29,018 $ 27,297 Classified in our consolidated balance sheets: Accounts receivable, net $ 15,141 $ 13,173 Other assets 13,877 14,124 Device payment plan agreement receivables, net $ 29,018 $ 27,297 (1) Includes allowance for both short-term and long-term device payment plan agreement receivables. 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. The associated interest income, which is included within Service revenues and other in our 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 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 December 31, 2024 and December 31, 2023, the amount of trade-in liability was $396 million and $566 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, disclosed in the table above, 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, and gross write-offs recorded, as of and for the twelve months ended December 31, 2024, by credit quality indicator and year of origination: Year of Origination (1) (dollars in millions) 2024 2023 2022 and prior Total Device payment plan agreement receivables, at amortized cost New customers $ 3,277 $ 1,542 $ 397 $ 5,216 Existing customers 14,136 8,075 2,906 25,117 Total $ 17,413 $ 9,617 $ 3,303 $ 30,333 Gross write-offs New customers $ 376 $ 563 $ 111 $ 1,050 Existing customers 52 201 155 408 Total $ 428 $ 764 $ 266 $ 1,458 (1) Includes accounts that have been suspended at a point in time. The data presented in the table above was last updated on December 31, 2024. We assess indicators for the quality of our wireless service receivables portfolio as one overall pool. The following table presents wireless service receivables, at amortized cost, and gross write-offs recorded, as of and for the twelve months ended December 31, 2024, by year of origination: Year of Origination (dollars in millions) 2024 2023 and prior Total Wireless service receivables, at amortized cost $ 5,760 $ 49 $ 5,809 Gross write-offs 374 183 557 The data presented in the table above was last updated on December 31, 2024. 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 types of customers and related contracts: consumer, small and medium business, 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 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, 2024 $ 1,151 $ 213 Current period provision for expected credit losses 1,585 538 Write-offs charged against the allowance (1,458) (557) Recoveries collected 37 46 Balance at December 31, 2024 $ 1,315 $ 240 (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: (dollars in millions) At December 31, 2024 Unbilled $ 28,916 Billed: Current 1,116 Past due 301 Device payment plan agreement receivables, at amortized cost $ 30,333

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements and Financial Instruments	Note 9. Fair Value Measurements and Financial Instruments Recurring Fair Value Measurements The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2024: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Prepaid expenses and other: Fixed income securities $ — $ 16 $ — $ 16 Interest rate caps — 3 — 3 Other assets: Fixed income securities — 269 — 269 Cross currency swaps — 500 — 500 Total $ — $ 788 $ — $ 788 Liabilities: Other current liabilities: Interest rate swaps $ — $ 1,964 $ — $ 1,964 Cross currency swaps — 345 — 345 Foreign exchange forwards — 5 — 5 Interest rate caps — 3 — 3 Other liabilities: Interest rate swaps — 3,338 — 3,338 Cross currency swaps — 2,344 — 2,344 Total $ — $ 7,999 $ — $ 7,999 (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, 2023: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Prepaid expenses and other: Fixed income securities $ — $ 25 $ — $ 25 Cross currency swaps — 4 — 4 Foreign exchange forwards — 4 — 4 Interest rate caps — 37 — 37 Other assets: Fixed income securities — 254 — 254 Cross currency swaps — 758 — 758 Interest rate caps — 7 — 7 Total $ — $ 1,089 $ — $ 1,089 Liabilities: Other current liabilities: Interest rate swaps $ — $ 823 $ — $ 823 Cross currency swaps — 294 — 294 Foreign exchange forwards — 1 — 1 Interest rate caps — 37 — 37 Contingent consideration — — 52 52 Other liabilities: Interest rate swaps — 3,648 — 3,648 Cross currency swaps — 1,791 — 1,791 Interest rate caps — 7 — 7 Total $ — $ 6,601 $ 52 $ 6,653 (1) Quoted prices in active markets for identical assets or liabilities. (2) Observable inputs other than quoted prices in active markets for identical assets and liabilities. (3) Unobservable pricing inputs in the market. Certain of our equity investments do not have readily determinable fair values and are excluded from the tables above. Such investments are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer and are included in Investments in unconsolidated businesses in our consolidated balance sheets. As of December 31, 2024 and December 31, 2023, the carrying amount of our investments without readily determinable fair values was $724 million and $764 million, respectively. During 2024, there were insignificant adjustments due to observable price changes and insignificant impairment charges. Cumulative adjustments due to observable price changes and impairment charges were approximately $186 million and $120 million, respectively. Verizon had a liability for contingent consideration related to its acquisition of TracFone, completed in November 2021. The fair value was calculated using a probability-weighted discounted cash flow model and represented 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 was remeasured to fair value. Contingent consideration payments were completed in January of 2024. During 2024 and 2023, we made payments of $52 million and $257 million, respectively, related to the contingent consideration. See 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, 2024 $ 141,665 $ 81,552 $ 55,464 $ — $ 137,016 At December 31, 2023 148,583 86,806 58,804 — 145,610 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: (dollars in millions) At December 31, 2024 2023 Interest rate swaps $ 24,025 $ 26,071 Cross currency swaps 32,053 33,526 Foreign exchange forwards 620 1,050 The following tables summarize the activities of our designated derivatives: (dollars in millions) Years Ended December 31, 2024 2023 Interest Rate Swaps: Notional value entered into $ — $ — Notional value settled 2,046 — Pre-tax gain recognized in Interest expense 4 1 Cross Currency Swaps: Notional value entered into 2,146 — Notional value settled 3,619 1,450 Pre-tax gain (loss) on cross currency swaps recognized in Interest expense (1,839) 1,119 Pre-tax gain (loss) on hedged debt recognized in Interest expense 1,839 (1,119) Excluded components recognized in Other comprehensive income (loss) 730 826 Initial value of the excluded component amortized into Interest expense 96 109 Treasury Rate Locks: Notional value entered into 1,000 500 Notional value settled 1,000 500 Pre-tax gain (loss) recognized in Other comprehensive income (loss) (21) 5 (dollars in millions) Years Ended December 31, 2024 2023 Other, net Cash Flows from Operating Activities: Cash paid for settlement of interest rate swaps $ (57) $ — Cash received (paid) for settlement of treasury rate locks (21) 5 Other, net Cash Flows from Financing Activities: Cash paid for settlement of cross currency swaps, net (243) (67) The following table displays the amounts recorded in Long-term debt in our consolidated balance sheets related to cumulative basis adjustments for our interest rate swaps designated as fair value hedges. The cumulative amounts exclude cumulative basis adjustments related to foreign exchange risk. (dollars in millions) At December 31, 2024 2023 Carrying amount of hedged liabilities $ 18,863 $ 21,838 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (5,192) (4,354) Cumulative amount of fair value hedging adjustment remaining for which hedge accounting has been discontinued 281 400 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 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 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. These swaps are designated as fair value hedges. We record the cross currency swaps at fair value in our 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 years ended December 31, 2024 and 2023, 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 income (loss). Unrealized gains or losses on excluded components are recorded in Other comprehensive income (loss) and are recognized into Interest expense on a systematic and rational basis through the swap accrual over the life of the hedging instrument. On March 31, 2022, we elected to de-designate our cross currency swaps previously designated as cash flow hedges and re-designated these swaps as fair value hedges. 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. For the fair value hedges, we 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 ended December 31, 2024 and 2023, the amortization of the initial value of the excluded component completely offset the amortization related to the amount remaining in Other comprehensive income (loss) related to cash flow hedges. See Note 14 for additional information. We estimate that $94 million will be amortized into Interest expense within the next 12 months. Treasury Rate Locks We enter into treasury rate locks designated as cash flow hedges to mitigate our interest rate risk on future transactions. We recognize gains and losses resulting from interest rate movements in Other comprehensive income (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 December 31, 2024 and 2023. 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: (dollars in millions) Years Ended December 31, 2024 2023 Foreign Exchange Forwards: Notional value entered into $ 8,640 $ 11,175 Notional value settled 9,070 11,045 Pre-tax gain (loss) recognized in Other income (expense), net (50) 25 Foreign Exchange Forwards We entered 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. Concentrations of Credit Risk Financial instruments that subject us to concentrations of credit risk consist primarily of temporary cash investments, short-term and long-term investments, trade receivables, including device payment plan agreement receivables, certain notes receivable, including lease receivables, and derivative contracts. Counterparties to our derivative contracts are major financial institutions with whom we have negotiated derivatives agreements (ISDA master agreements) and credit support annex (CSA) agreements which provide rules for collateral exchange. The CSA agreements contain fixed cap amounts or rating based thresholds such that we or our counterparties may be required to hold or post collateral based upon changes in outstanding positions as compared to established thresholds or caps and changes in credit ratings. We do not offset fair value amounts recognized for derivative instruments and fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral arising from derivative instruments recognized at fair value. At both December 31, 2024 and 2023, we did not hold any collateral. At December 31, 2024 and 2023, we posted $2.1 billion and $1.4 billion, respectively, of collateral related to derivative contracts under collateral exchange agreements, which were recorded as Prepaid expenses and other in our consolidated balance sheets. While we may be exposed to credit losses due to the nonperformance of our counterparties, we consider the risk remote and do not expect that any such nonperformance would result in a significant effect on our results of operations or financial condition due to our diversified pool of counterparties.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 10. Stock-Based Compensation Verizon Long-Term Incentive Plan In May 2017, our shareholders approved the 2017 Long-Term Incentive Plan (the 2017 Plan) and terminated the Company's authority to grant new awards under the Verizon 2009 Long-Term Incentive Plan (the 2009 Plan). The 2017 Plan provides for broad-based equity grants to employees, including executive officers, and permits the granting of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units and other awards. Upon approval of the 2017 Plan, we reserved for issuance under the 2017 Plan the number of shares that were remaining but not issued under the 2009 Plan. Shares subject to outstanding awards under the 2009 Plan that expire, are canceled or otherwise terminated will also be available for awards under the 2017 Plan. As of December 31, 2024, 50 million shares are reserved for future issuance under the 2017 Plan. Restricted Stock Units Restricted Stock Units (RSUs) granted under the 2017 Plan generally vest in three equal installments on each anniversary of the grant date. The RSUs that are paid in stock upon vesting and are thus classified as equity awards are measured using the grant date fair value of Verizon common stock and are not remeasured at the end of each reporting period. In 2020, Verizon announced a broad-based program that provides for the annual award of cash-settled RSUs under the 2017 Plan to all full-time and part-time employees who meet eligibility requirements. The RSUs that are settled in cash are classified as liability awards and the liability is measured at its fair value at the end of each reporting period. All RSUs granted under the 2017 Plan have dividend equivalent units (DEUs), which will be paid to participants if, and only to the extent the applicable RSU award vests, and is paid at the time the RSU award is paid, and in the same proportion as the RSU award. We estimate forfeitures at the time of grant and revise those estimates in subsequent periods if actual forfeitures differ from those estimates. We use historical data to estimate forfeitures and recognize that estimated compensation cost of restricted stock units, net of estimated forfeitures, on a straight-line basis over the vesting period. Performance Stock Units The 2017 Plan also provides for grants of Performance Stock Units (PSUs) that generally vest at the end of the third year after the grant. As defined by the 2017 Plan, the Human Resources Committee of the Board of Directors determines the number of PSUs a participant earns based on the extent to which the corresponding performance goals have been achieved over the three-year performance cycle. The PSUs that are paid in stock upon vesting and are classified as equity awards are measured using the grant date fair value of Verizon common stock and are not remeasured at the end of each reporting period. The PSUs that are settled in cash and are classified as liability awards are measured at its fair value at the end of each reporting period and, therefore, will fluctuate based on the price of Verizon common stock as well as performance relative to the targets. All PSUs granted under the 2017 Plan have DEUs, which will be paid to participants if, and only to the extent the applicable PSU award vests, and is paid at the time that PSU award is paid, and in the same proportion as the PSU award. The granted and cancelled activity for the PSU award includes adjustments for the performance goals achieved. The following table summarizes Verizon’s Restricted Stock Unit and Performance Stock Unit activity: Restricted Stock Units Performance Stock Units (shares in thousands) Equity Awards Liability Awards Equity Awards Liability Awards Outstanding January 1, 2022 6,779 17,290 8,640 4,465 Granted 4,149 11,309 5,752 197 Payments (3,313) (6,363) — (2,075) Cancelled/Forfeited (362) (1,627) (567) (2,171) Outstanding December 31, 2022 7,253 20,609 13,825 416 Granted 13,047 17,441 2,537 12 Payments (3,612) (12,198) (3,495) (121) Cancelled/Forfeited (836) (2,366) (693) (31) Outstanding December 31, 2023 15,852 23,486 12,174 276 Granted 11,118 16,172 (12) (46) Payments (6,439) (12,393) (2,175) (71) Cancelled/Forfeited (533) (1,379) (181) (1) Outstanding December 31, 2024 19,998 25,886 9,806 158 As of December 31, 2024, unrecognized compensation expense related to the unvested portion of Verizon’s RSUs and PSUs was approximately $745 million and is expected to be recognized over approximately 2 years. The equity awards granted in 2024, 2023 and 2022 have weighted-average grant date fair values of $40.31, $37.53 and $53.26 per unit, respectively. During 2024, 2023 and 2022, we paid $508 million, $415 million and $433 million, respectively, to settle RSUs and PSUs classified as liability awards. Stock-Based Compensation Expense After-tax compensation expense for stock-based compensation related to RSUs and PSUs described above included in Net income attributable to Verizon was $795 million, $533 million and $609 million for 2024, 2023 and 2022, respectively.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefits	Note 11. Employee Benefits We maintain non-contributory defined benefit pension plans for certain employees. In addition, we maintain postretirement health care and life insurance plans for certain retirees and their dependents, which are both contributory and non-contributory, and include a limit on our share of the cost for certain current and future retirees. In accordance with our accounting policy for pension and other postretirement benefits, operating expenses include service costs associated with pension and other postretirement benefits while other credits and/or charges based on actuarial assumptions, including projected discount rates, an estimated return on plan assets, and impact from health care trend rates are reported in Other income (expense), net. These estimates are updated in the fourth quarter or upon a remeasurement event, to reflect actual return on plan assets and updated actuarial assumptions. The adjustment is recognized in the income statement during the fourth quarter and upon a remeasurement event pursuant to our accounting policy for the recognition of actuarial gains and losses. Pension and Other Postretirement Benefits Pension and other postretirement benefits for certain employees are subject to collective bargaining agreements. Modifications in benefits have been bargained from time to time, and we may also periodically amend the benefits in the management plans. The following tables summarize benefit costs, as well as the benefit obligations, plan assets, funded status and rate assumptions associated with pension and postretirement health care and life insurance benefit plans. Obligations and Funded Status (dollars in millions) Pension Health Care and Life At December 31, 2024 2023 2024 2023 Change in Benefit Obligations Beginning of year $ 15,133 $ 15,369 $ 11,455 $ 11,107 Service cost 185 208 52 54 Interest cost 479 752 543 545 Plan amendments — — — (26) Actuarial (gain) loss, net (1,130) 5 (533) 757 Benefits paid (419) (1,008) (978) (982) Curtailment and termination benefits 6 5 — — Settlements paid (725) (198) — — Annuity contracts transfer (5,611) — — — End of year 7,918 15,133 10,539 11,455 Change in Plan Assets Beginning of year 13,536 13,739 466 450 Actual return on plan assets (400) 751 43 62 Company contributions 421 252 935 936 Benefits paid (419) (1,008) (978) (982) Settlements paid (725) (198) — — Annuity contracts transfer (5,611) — — — End of year 6,802 13,536 466 466 Funded Status - End of year $ (1,116) $ (1,597) $ (10,073) $ (10,989) (dollars in millions) Pension Health Care and Life At December 31, 2024 2023 2024 2023 Amounts recognized in the balance sheets Current liabilities $ (38) $ (42) $ (643) $ (685) Non-current liabilities (1,078) (1,555) (9,430) (10,304) Total $ (1,116) $ (1,597) $ (10,073) $ (10,989) Amounts recognized in Accumulated other comprehensive loss (pre-tax) Prior service cost (benefit) $ 523 $ 635 $ (833) $ (962) Total $ 523 $ 635 $ (833) $ (962) The accumulated benefit obligation for all defined benefit pension plans was $7.9 billion and $15.1 billion at December 31, 2024 and 2023, respectively. Pension Annuitization On February 29, 2024, we entered into two separate commitment agreements, one by and between the Company, State Street Global Advisors Trust Company (State Street), as independent fiduciary of the Verizon Management Pension Plan and Verizon Pension Plan for Associates (the Pension Plans), and The Prudential Insurance Company of America (Prudential), and one by and between the Company, State Street and RGA Reinsurance Company (RGA), under which the Pension Plans purchased nonparticipating single premium group annuity contracts from Prudential and RGA, respectively, to settle approximately $5.8 billion of benefit liabilities of the Pension Plans, net of certain adjustments, resulting in a net pre-tax settlement gain of $200 million. The purchase of the group annuity contracts closed on March 6, 2024. The group annuity contracts primarily cover a population that includes 56,000 retirees who commenced benefit payments from the Pension Plans prior to January 1, 2023 (Transferred Participants). Prudential and RGA each irrevocably guarantee and assume the sole obligation to make future payments to the Transferred Participants as provided under their respective group annuity contracts, with direct payments beginning July 1, 2024. The aggregate amount of each Transferred Participant's payment under the group annuity contracts will be equal to the amount of each individual’s payment under the Pension Plans. The purchase of the group annuity contracts was funded directly by transferring $5.6 billion, of assets of the Pension Plans, net of certain settlements. The Company made additional contributions to the Pension Plans prior to the closing date of the transaction, as discussed below. With these contributions, the funded ratio of each of the Pension Plans does not change as a result of this transaction. Pension plan assets and liabilities are primarily presented within Employee benefit obligations in our consolidated balance sheets. Actuarial (Gain) Loss, Net The net actuarial gain in 2024 is primarily the result of a $1.4 billion gain ($764 million in our pension plans and $656 million in our postretirement benefit plans) due to an increase in our discount rate assumption used to determine the current year liabilities of our pension plans and postretirement benefit plans from a weighted-average of 5.0% for both our pension and postretirement plans at December 31, 2023 to a weighted-average of 5.8% for our pension plans and 5.6% for our postretirement plans at December 31, 2024, as well as a net pre-tax settlement gain of $200 million resulting from the pension annuitization transaction discussed above. The net actuarial loss in 2023 is primarily the result of a $534 million loss in our postretirement benefit plans due to an increase in our healthcare cost trend rate assumption used to determine the current year liabilities of our postretirement benefit plans from a weighted-average of 6.6% at December 31, 2022 to a weighted-average of 7.3% at December 31, 2023; and a $503 million loss ($288 million in our pension plans and $215 million in our postretirement benefit plans) due to a decrease in our discount rate assumption used to determine the current year liabilities of our pension plans and postretirement benefit plans from a weighted-average of 5.2% at December 31, 2022 to a weighted-average of 5.0% at December 31, 2023. Plan Amendments The reclassifications from the amounts recorded in Accumulated other comprehensive income (loss) as a result of collective bargaining agreements and plan amendments made in 2016, 2017, 2018 and 2022 resulted in a net increase to net periodic benefit cost and net decrease to pre-tax income of an insignificant amount during 2024. The similar reclassifications resulted in a net decrease to net periodic benefit cost and net increase to pre-tax income of $252 million during 2023 and $390 million during 2022. Information for pension plans with an accumulated benefit obligation in excess of plan assets follows: (dollars in millions) At December 31, 2024 2023 Accumulated benefit obligation $ 7,881 $ 15,086 Fair value of plan assets 6,802 13,534 Information for pension plans with a projected benefit obligation in excess of plan assets follows: (dollars in millions) At December 31, 2024 2023 Projected benefit obligation $ 7,918 $ 15,133 Fair value of plan assets 6,802 13,536 Net Periodic Benefit Cost (Income) The following table summarizes the components of net periodic benefit cost (income) related to our pension and postretirement health care and life insurance plans: (dollars in millions) Pension Health Care and Life Years Ended December 31, 2024 2023 2022 2024 2023 2022 Service cost - Cost of services $ 159 $ 182 $ 216 $ 44 $ 46 $ 79 Service cost - Selling, general and administrative expense 26 26 30 8 8 15 Service cost 185 208 246 52 54 94 Amortization of prior service cost (credit) 112 112 82 (129) (419) (530) Expected return on plan assets (620) (1,013) (1,119) (28) (31) (27) Interest cost 479 752 544 543 545 332 Remeasurement loss (gain), net (110) 266 1,505 (547) 726 (3,182) Curtailment and termination benefits — — 2 — — — Other components (139) 117 1,014 (161) 821 (3,407) Total $ 46 $ 325 $ 1,260 $ (109) $ 875 $ (3,313) The service cost component of net periodic benefit cost (income) is recorded in Cost of services and Selling, general and administrative expense in the consolidated statements of income while the other components, including mark-to-market adjustments, if any, are recorded in Other income (expense), net. Other pre-tax changes in plan assets and benefit obligations recognized in Other comprehensive (income) loss are as follows: (dollars in millions) Pension Health Care and Life At December 31, 2024 2023 2022 2024 2023 2022 Reversal of amortization items Prior service cost (benefit) $ (112) $ (112) $ (82) $ 129 $ 419 $ 530 Total recognized in Other comprehensive loss (income) (pre-tax) $ (112) $ (112) $ (82) $ 129 $ 419 $ 530 Assumptions The weighted-average assumptions used in determining benefit obligations follow: Pension Health Care and Life At December 31, 2024 2023 2024 2023 Discount Rate 5.80 % 5.00 % 5.60 % 5.00 % Rate of compensation increases 3.00 % 3.00 % N/A N/A N/A - not applicable The weighted-average assumptions used in determining net periodic cost follow: Pension Health Care and Life At December 31, 2024 2023 2022 2024 2023 2022 Discount rate in effect for determining service cost 5.40 % 5.30 % 3.80 % 5.10 % 5.30 % 3.20 % Discount rate in effect for determining interest cost 5.20 5.10 3.20 4.90 5.10 2.30 Expected return on plan assets 7.90 7.70 6.70 6.30 7.30 4.90 Rate of compensation increases 3.00 3.00 3.00 N/A N/A N/A N/A - not applicable In determining our pension and other postretirement benefit obligations, we used a weighted-average discount rate of 5.7% in 2024. The rates were selected to approximate the composite interest rates available on a selection of high-quality bonds available in the market at December 31, 2024. The bonds selected had maturities that coincided with the time periods during which benefits payments are expected to occur, were non-callable (or callable with certain selection criteria met) and available in sufficient quantities to ensure marketability (at least $300 million par outstanding). In order to project the long-term target investment return for the total portfolio, estimates are prepared for the total return of each major asset class over the subsequent 10-year period. Those estimates are based on a combination of factors including the current market interest rates and valuation levels, consensus earnings expectations and historical long-term risk premiums. To determine the aggregate return for the pension trust, the projected return of each individual asset class is then weighted according to the allocation to that investment area in the trust’s long-term asset allocation policy. The assumed health care cost trend rates are as follows: Health Care and Life At December 31, 2024 2023 2022 Weighted-average healthcare cost trend rate assumed for next year 8.80 % 7.30 % 6.60 % Rate to which cost trend rate gradually declines 4.50 4.50 4.50 Year the rate reaches the level it is assumed to remain thereafter 2034 2032 2031 Plan Assets The Company’s overall investment strategy is to achieve a mix of assets that allows us to meet projected benefit payments while taking into consideration risk and return. While target allocation percentages will vary over time, the current target allocation for plan assets is designed so that 53% to 63% of the assets have the objective of achieving a return in excess of the growth in liabilities (comprised of public equities, private equities, real estate, hedge funds, high yield bonds and emerging market debt) and 41% to 51% of the assets are invested as liability hedging assets (where interest rate sensitivity of the liability hedging assets better match the interest rate sensitivity of the liability) and a maximum of 10% is in cash. This allocation will shift as funded status improves to a higher allocation of liability hedging assets. Target policies will be revisited periodically to ensure they are in line with fund objectives. Both active and passive management approaches are used depending on perceived market efficiencies and various other factors. Due to our diversification and risk control processes, there are no significant concentrations of risk, in terms of sector, industry, geography or company names. Pension and healthcare and life plans assets do not include significant amounts of Verizon bonds or common stock. Pension Plans The fair values for the pension plans by asset category at December 31, 2024 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 542 $ 530 $ 12 $ — Equity securities 12 12 — — Fixed income securities U.S. Treasuries and agencies 720 527 193 — Corporate bonds 1,129 627 502 — International bonds 113 — 113 — Other 82 (87) 169 — Real estate 934 — — 934 Other Private equity 564 — — 564 Hedge funds 50 — 27 23 Total investments at fair value 4,146 1,609 1,016 1,521 Investments measured at NAV 2,656 Total $ 6,802 $ 1,609 $ 1,016 $ 1,521 The fair values for the pension plans by asset category at December 31, 2023 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,956 $ 1,771 $ 185 $ — Equity securities 69 55 14 — Fixed income securities U.S. Treasuries and agencies 1,412 1,274 138 — Corporate bonds 2,994 204 2,790 — International bonds 341 3 338 — Other 768 234 534 — Real estate 996 — — 996 Other Private equity 512 — — 512 Hedge funds 56 — 30 26 Total investments at fair value 9,104 3,541 4,029 1,534 Investments measured at NAV 4,432 Total $ 13,536 $ 3,541 $ 4,029 $ 1,534 The following is a reconciliation of the beginning and ending balance of pension plan assets that are measured at fair value using significant unobservable inputs: (dollars in millions) Real Private Hedge Total Balance at January 1, 2023 $ 1,002 $ 569 $ 52 $ 1,623 Actual gain (loss) on plan assets (54) 14 4 (36) Purchases (sales) 48 (67) (1) (20) Transfers out — (4) (29) (33) Balance at December 31, 2023 996 512 26 1,534 Actual gain (loss) on plan assets (69) 55 1 (13) Purchases (sales) 12 (1) (1) 10 Transfers out (5) (2) (3) (10) Balance at December 31, 2024 $ 934 $ 564 $ 23 $ 1,521 Health Care and Life Plans The fair values for the other postretirement benefit plans by asset category at December 31, 2024 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 21 $ — $ 21 $ — Equity securities 223 223 — — Fixed income securities U.S. Treasuries and agencies 149 135 14 — Corporate bonds 45 32 13 — International bonds 15 11 4 — Other 10 — 10 — Total investments at fair value 463 401 62 — Investments measured at NAV 3 Total $ 466 $ 401 $ 62 $ — The fair values for the other postretirement benefit plans by asset category at December 31, 2023 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 27 $ — $ 27 $ — Equity securities 229 229 — — Fixed income securities U.S. Treasuries and agencies 138 118 20 — Corporate bonds 41 29 12 — International bonds 12 10 2 — Other 14 — 14 — Total investments at fair value 461 386 75 — Investments measured at NAV 5 Total $ 466 $ 386 $ 75 $ — The following are general descriptions of asset categories, as well as the valuation methodologies and inputs used to determine the fair value of each major category of assets. Cash and cash equivalents include short-term investment funds (less than 90 days to maturity), primarily in diversified portfolios of investment grade money market instruments and are valued using quoted market prices or other valuation methods. The carrying value of cash equivalents approximates fair value due to the short-term nature of these investments. Investments in securities traded on national and foreign securities exchanges are valued by the trustee at the last reported sale prices on the last business day of the year or, if no sales were reported on that date, at the last reported bid prices. Government obligations, corporate bonds, international bonds and asset-backed debt are valued using matrix prices with input from independent third-party valuation sources. Over-the-counter securities are valued at the bid prices or the average of the bid and ask prices on the last business day of the year from published sources or, if not available, from other sources considered reliable such as multiple broker quotes. Commingled funds not traded on national exchanges are priced by the custodian or fund's administrator at their net asset value (NAV). Commingled funds held by third-party custodians appointed by the fund managers provide the fund managers with a NAV. The fund managers have the responsibility for providing this information to the custodian of the respective plan. The investment manager of the entity values venture capital, corporate finance and natural resource limited partnership investments. Real estate investments are valued at amounts based upon appraisal reports prepared by either independent real estate appraisers or the investment manager using discounted cash flows or market comparable data. Loans secured by mortgages are carried at the lesser of the unpaid balance or appraised value of the underlying properties. The values assigned to these investments are based upon available and current market information and do not necessarily represent amounts that might ultimately be realized. Because of the inherent uncertainty of valuation, estimated fair values might differ significantly from the values that would have been used had a ready market for the securities existed. These differences could be material. Forward currency contracts, futures, and options are valued by the trustee at the exchange rates and market prices prevailing on the last business day of the year. Both exchange rates and market prices are readily available from published sources. These securities are classified by the asset class of the underlying holdings. Hedge funds are valued by the custodian at NAV based on statements received from the investment manager. These funds are valued in accordance with the terms of their corresponding offering or private placement memoranda. Commingled funds, hedge funds, venture capital, corporate finance, natural resource and real estate limited partnership investments for which fair value is measured using the NAV per share as a practical expedient are not leveled within the fair value hierarchy but are included in total investments. Employer Contributions In 2024, we made discretionary contributions in the aggregate amount of $365 million to the Pension Plans, $56 million of contributions to our nonqualified pension plans and $935 million of contributions to our other postretirement benefit plans. For 2025, we expect no required qualified pension plan contributions and insignificant nonqualified pension plan contributions. Contributions to our other postretirement benefit plans are estimated to be approximately $726 million in 2025. Estimated Future Benefit Payments The benefit payments to retirees are expected to be paid as follows: (dollars in millions) Year Pension Benefits Health Care and Life 2025 $ 1,024 $ 754 2026 770 795 2027 357 810 2028 384 829 2029 412 836 2030 to 2034 2,448 4,364 Savings Plan and Employee Stock Ownership Plans We maintain four leveraged employee stock ownership plans (ESOP). We match a certain percentage of eligible employee contributions to certain savings plans with shares of our common stock from this ESOP. At December 31, 2024, the number of allocated shares of common stock in this ESOP was 39 million. There were no unallocated shares of common stock in this ESOP at December 31, 2024. All leveraged ESOP shares are included in earnings per share computations. Total savings plan costs were $700 million in 2024, $724 million in 2023 and $620 million in 2022. Severance Benefits The following table provides an analysis of our severance liability: (dollars in millions) Year Beginning of Year Charged to Payments End of Year 2022 $ 548 $ 319 $ (214) $ 653 2023 653 531 (617) 567 2024 567 1,494 (966) 1,095 Severance, Pension and Benefits Charges (Credits) During 2024, we recorded net pre-tax severance charges of $1.5 billion, p rincipally as a result of our voluntary separation program, but also as a result of other headcount reduction initiatives, in Selling, general and administrative expense in our consolidated statements of income. In June 2024, we announced a voluntary separation program for select U.S.-based management employees. Approximately 4,800 eligible employees will separate from Verizon under this program by the end of March 2025, with the majority of these employees having exited through December 31, 2024. During 2023 and 2022, we recorded net pre-tax severance charges of $531 million and $319 million, respectively in Selling, general and administrative expense in our consolidated statements of income. During 2024, in accordance with our accounting policy to recognize actuarial gains and losses in the period in which they occur, we recorded net pre-tax pension and benefits credits of $657 million in our pension and postretirement benefit plans. The net gain was recorded in Other income (expense), net, in our consolidated statement of income. This was primarily driven by a credit of $1.4 billion ($764 million for pension plans and $656 million for postretirement benefit plans) due to an increase in our discount rate assumption used to determine the current year liabilities of our pension plans from a weighted-average of 5.0% for both our pension and post retirement plans at December 31, 2023 to a weighted-average of 5.8% for our pension plans and 5.6% for our postretirement benefit plans at December 31, 2024; a charge of $1.0 billion due to the difference between our estimated and our actual return on plan assets; and a net pre-tax settlement credit of $200 million resulting from the pension annuitization transaction discussed above. During 2023, we recorded net pre-tax pension and benefits charges of $992 million in our pension and postretirement benefit plans. The charges were recorded in Other income (expense), net, in our consolidated statement of income and were primarily driven by a charge of $534 million due to an increase in our healthcare cost trend rate assumption used to determine the current year liabilities of our postretirement benefit plans from a weighted-average of 6.6% at December 31, 2022 to a weighted-average of 7.3% at December 31, 2023; a charge of $503 million due to a decrease in our discount rate assumption used to determine the current year liabilities of our pension plans ($288 million) and postretirement benefit plans ($215 million) from a weighted-average of 5.2% at December 31, 2022 to a weighted-average of 5.0% at December 31, 2023; a net credit of $45 million primarily due to changes in other actuarial assumption adjustments, which includes the difference between our estimated and our actual return on plan assets. During 2022, we recorded net pre-tax pension and benefits credits of $1.7 billion in our pension and postretirement benefit plans. The credits were recorded in Other income (expense), net in our consolidated statement of income and were primarily driven by a credit of $7.0 billion due to an increase in our discount rate assumption used to determine the current year liabilities of our pension plans ($4.1 billion) and postretirement benefit plans ($2.9 billion) from a weighted-average of 2.9% at December 31, 2021 to a weighted-average of 5.2% at December 31, 2022, a charge of $5.5 billion due to the difference between our estimated and our actual return on assets and a credit of $206 million due to other actuarial assumption adjustments.

Taxes

Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Taxes	Note 12. Taxes The components of income before provision for income taxes are as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Domestic $ 21,253 $ 15,668 $ 26,822 Foreign 1,726 1,319 1,449 Total $ 22,979 $ 16,987 $ 28,271 The components of the provision for income taxes are as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Current Federal $ 3,367 $ 2,070 $ 2,411 Foreign 240 219 201 State and local 608 215 938 Total 4,215 2,504 3,550 Deferred Federal 807 1,799 2,529 Foreign (4) 28 (22) State and local 12 561 466 Total 815 2,388 2,973 Total income tax provision $ 5,030 $ 4,892 $ 6,523 The following table shows the principal reasons for the difference between the effective income tax rate and the statutory federal income tax rate: (dollars in millions) 2024 2023 2022 Years Ended December 31, Amount Percent Amount Percent Amount Percent U.S. federal statutory tax rate $ 4,825 21.0 % $ 3,567 21.0 % $ 5,937 21.0 % State and local income taxes, net of federal income tax effect (1) 566 2.5 664 3.9 1,104 3.9 Foreign tax effects (68) (0.3) (16) (0.1) (120) (0.4) Effect of cross-border tax laws — — 18 0.1 15 0.1 Tax credits (27) (0.1) (27) (0.2) (30) (0.1) Changes in valuation allowances 15 0.1 — — 11 — Nontaxable or nondeductible items Goodwill impairment — — 1,149 6.8 — — Other (116) (0.5) (133) (0.8) (145) (0.5) Changes in unrecognized tax benefits 40 0.2 (27) (0.2) (118) (0.4) Other adjustments Federal refund claims (17) (0.1) (245) (1.4) — — Other (188) (0.9) (58) (0.3) (131) (0.5) Effective income tax rate $ 5,030 21.9 % $ 4,892 28.8 % $ 6,523 23.1 % (1) The states that contribute to the majority (greater than 50%) of the tax effect in this category include California, Maryland and Pennsylvania for 2024, California, Georgia, Illinois, Maryland and Virginia for 2023, and California, Florida, Georgia, Illinois, New Jersey, Oregon and Pennsylvania for 2022. The effective income tax rate for 2024 was 21.9% compared to 28.8% for 2023. The decrease in the effective income tax rate was primarily due to the Verizon Business Group goodwill impairment charge of $5.8 billion in 2023 that substantially decreased income before income taxes and was not deductible. The increase in the provision for income taxes was primarily due to the increase in income before income taxes in the current period. The effective income tax rate for 2023 was 28.8% compared to 23.1% for 2022. The increase in the effective income tax rate was primarily due to the Verizon Business Group goodwill impairment charge of $5.8 billion that substantially decreased income before income taxes and was not deductible. The decrease in the provision for income taxes was primarily due to the decrease in income before income taxes in the current period. The amounts of cash taxes paid by Verizon are as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Federal $ 4,745 $ 1,447 $ 1,865 State 665 672 670 Foreign Ireland 156 143 147 All other foreign 66 81 54 Income taxes, net of amounts refunded 5,632 2,343 2,736 Employment taxes 992 1,016 1,245 Property and other taxes 1,836 2,007 1,959 Total $ 8,460 $ 5,366 $ 5,940 In 2024, there were no individual jurisdictions with cash taxes paid that equaled or exceeded 5% of total income taxes paid. In 2022 and 2023, the only jurisdiction with cash taxes paid that equaled or exceeded 5% of total income taxes paid was Ireland. Deferred Tax Assets and Liabilities Deferred taxes arise because of differences in the book and tax bases of certain assets and liabilities. Significant components of deferred tax assets and liabilities are as follows: (dollars in millions) At December 31, 2024 2023 Deferred tax assets Employee benefits $ 3,676 $ 3,913 Tax loss, credit, and other carry forwards 1,719 1,922 Lease liabilities 5,138 5,480 Other - assets 1,735 1,708 12,268 13,023 Valuation allowances (1,399) (1,341) Deferred tax assets 10,869 11,682 Deferred tax liabilities Spectrum and other intangible amortization 29,302 28,535 Depreciation 20,424 20,884 Lease right-of-use assets 4,822 5,200 Other - liabilities 2,904 2,696 Deferred tax liabilities 57,452 57,315 Net deferred tax liability $ 46,583 $ 45,633 Undistributed earnings of certain foreign subsidiaries continue to be indefinitely invested outside the U.S. The majority of Verizon's cash flow is generated from domestic operations and we are not dependent on foreign cash or earnings to meet our funding requirements, nor do we intend to repatriate these undistributed foreign earnings to fund U.S. operations. Furthermore, a portion of these undistributed earnings represents amounts that legally must be kept in reserve in accordance with certain foreign jurisdictional requirements and are unavailable for distribution or repatriation. As a result, we have not provided U.S. deferred taxes on these undistributed earnings because we intend that they will remain indefinitely reinvested outside of the U.S. and, therefore unavailable for use in funding U.S. operations. Determination of the amount of unrecognized deferred taxes related to these undistributed earnings is not practicable. At December 31, 2024, we had net after-tax loss, credit, and other carry forwards for income tax purposes of approximately $1.7 billion that relate to federal, state and foreign taxes. Of these net after-tax loss, credit, and other carry forwards, approximately $1.1 billion will expire between 2025 and 2044 and approximately $591 million may be carried forward indefinitely. During 2024, the valuation allowance increased by $59 million. The $1.4 billion valuation allowance at December 31, 2024 is primarily related to state and foreign taxes. Unrecognized Tax Benefits A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows: (dollars in millions) 2024 2023 2022 Balance at January 1, $ 2,705 $ 2,812 $ 3,134 Additions based on tax positions related to the current year 91 114 123 Additions for tax positions of prior years 203 185 122 Reductions for tax positions of prior years (229) (154) (419) Settlements (70) (50) (92) Lapses of statutes of limitations (65) (202) (56) Balance at December 31, $ 2,635 $ 2,705 $ 2,812 Included in the total unrecognized tax benefits at December 31, 2024, 2023 and 2022 is $2.3 billion, $2.3 billion and $2.5 billion, respectively, that if recognized, would favorably affect the effective income tax rate. We recognized the following net after-tax expenses (benefit) related to interest and penalties in the provision for income taxes: Years Ended December 31, (dollars in millions) 2024 $ 55 2023 86 2022 35 The after-tax accruals for the payment of interest and penalties in the consolidated balance sheets are as follows: At December 31, (dollars in millions) 2024 $ 684 2023 630 The decrease in unrecognized tax benefits in 2024 was primarily due to the resolution of issues under income tax examinations. The decrease in unrecognized tax benefits for 2023 was primarily due to lapses of statutes of limitations.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	Note 13. 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 (CODM) assessment of segment performance. The Company's CODM is the Chief Executive Officer. The CODM uses segment operating income to allocate resources (including employees, financial or capital resources) and to assess performance during the monthly and quarterly financial strategic review process. When assessing segment performance and how to allocate resources, the CODM focuses on evaluating whether revenues generated are sufficient to cover variable and fixed costs with an appropriate return on investment. Key decisions considered by the CODM using segment operating income include prioritization and timing of changes to network technologies, allocation of capital expenditures based on the Company's priorities, geographic expansion of wireline and wireless networks, establishment of key financial and operational targets, pricing decisions, branding matters and people management. Our segments and their principal activities consist of the following: Segment Description Verizon Consumer Group Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the U.S. under the Verizon family of brands and through wholesale and other arrangements. We also provide FWA broadband through our 5G or 4G LTE networks as an alternative to traditional landline internet access. 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 FWA broadband, data, video and advanced communication services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various IoT services and products. We provide these products and services to businesses, public sector customers and wireless and wireline carriers across the U.S. and a subset of these 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 for these offerings: Enterprise and Public Sector, Business Markets and Other, and Wholesale. Corporate and other primarily includes device insurance programs, 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 and other adjustments and gains and losses that are not allocated or used 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 and therefore included in the CODM’s assessment of segment performance. The following tables provide operating financial information for our two reportable segments: (dollars in millions) 2024 Consumer Business Total External Operating Revenues Service $ 76,880 $ — $ 76,880 Wireless equipment 19,598 — 19,598 Other (1) 6,213 — 6,213 Enterprise and Public Sector — 14,218 14,218 Business Markets and Other — 13,081 13,081 Wholesale — 2,196 2,196 Intersegment revenues 213 36 249 Total Operating Revenues (2) 102,904 29,531 132,435 Operating Expenses (3) Cost of wireless equipment 21,259 4,841 26,100 Centrally managed network and shared service costs (4) 17,781 10,200 27,981 Depreciation and amortization expense 13,552 4,307 17,859 Other segment expenses (5) 20,828 8,125 28,953 Total Operating Expenses 73,420 27,473 100,893 Operating Income $ 29,484 $ 2,058 $ 31,542 (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 recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. (2) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $25.9 billion and $3.6 billion, respectively, for the year ended December 31, 2024. (3) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (4) Centrally managed network and shared service costs include costs for network and leased assets, supply chain and other centralized services that are allocated to our Consumer and Business segments based on proportionate usage of services. (5) Other segment expenses for each reportable segment include certain personnel, digital content, sales-related, overhead, other direct and operating costs. (dollars in millions) 2023 Consumer Business Total External Operating Revenues Service $ 74,874 $ — $ 74,874 Wireless equipment 20,645 — 20,645 Other (1) 5,898 — 5,898 Enterprise and Public Sector — 15,076 15,076 Business Markets and Other — 12,697 12,697 Wholesale — 2,313 2,313 Intersegment revenues 209 36 245 Total Operating Revenues (2) 101,626 30,122 131,748 Operating Expenses (3) Cost of wireless equipment 21,827 4,959 26,786 Centrally managed network and shared service costs (4) 17,496 10,590 28,086 Depreciation and amortization expense 13,077 4,488 17,565 Other segment expenses (5) 20,215 8,019 28,234 Total Operating Expenses 72,615 28,056 100,671 Operating Income $ 29,011 $ 2,066 $ 31,077 (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 recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. (2) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $26.4 billion and $3.7 billion, respectively, for the year ended December 31, 2023. (3) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (4) Centrally managed network and shared service costs include costs for network and leased assets, supply chain and other centralized services that are allocated to our Consumer and Business segments based on proportionate usage of services. (5) Other segment expenses for each reportable segment include certain personnel, digital content, sales-related, overhead, other direct and operating costs. (dollars in millions) 2022 Consumer Business Total External Operating Revenues Service $ 73,139 $ — $ 73,139 Wireless equipment 23,168 — 23,168 Other (1) 6,996 — 6,996 Enterprise and Public Sector — 15,692 15,692 Business Markets and Other — 12,753 12,753 Wholesale — 2,584 2,584 Intersegment revenues 203 43 246 Total Operating Revenues (2) 103,506 31,072 134,578 Operating Expenses (3) Cost of wireless equipment 25,134 5,362 30,496 Centrally managed network and shared service costs (4) 16,997 10,840 27,837 Depreciation and amortization expense 12,716 4,312 17,028 Other segment expenses (5) 19,813 7,927 27,740 Total Operating Expenses 74,660 28,441 103,101 Operating Income $ 28,846 $ 2,631 $ 31,477 (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 recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. (2) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $27.0 billion and $4.0 billion, respectively, for the year ended December 31, 2022. (3) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (4) Centrally managed network and shared service costs include costs for network and leased assets, supply chain and other centralized services that are allocated to our Consumer and Business segments based on proportionate usage of services. (5) Other segment expenses for each reportable segment include certain personnel, digital content, sales-related, overhead, other direct and operating costs. The following table provides Fios revenues for our two reportable segments and includes intersegment activity: (dollars in millions) Years Ended December 31, 2024 2023 2022 Consumer $ 11,647 $ 11,614 $ 11,622 Business 1,252 1,235 1,201 Total Fios revenue $ 12,899 $ 12,849 $ 12,823 The following table provides Wireless service revenue for our reportable segments and includes intersegment activity: (dollars in millions) Years Ended December 31, 2024 2023 2022 Consumer $ 65,374 $ 63,358 $ 61,509 Business 13,753 13,372 12,845 Total Wireless service revenue $ 79,127 $ 76,730 $ 74,354 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 special items that the CODM does not consider in assessing segment performance, primarily because of their nature. A reconciliation of the total reportable segments’ operating revenues to consolidated operating revenues is as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Operating Revenues Total reportable segments $ 132,435 $ 131,748 $ 134,578 Corporate and other 2,609 2,479 2,510 Reconciling items: Eliminations (256) (253) (253) Consolidated Operating Revenues $ 134,788 $ 133,974 $ 136,835 A reconciliation of the total reportable segments' operating income to consolidated income before provision for income taxes is as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Operating Income Total reportable segments $ 31,542 $ 31,077 $ 31,477 Corporate and other (610) (643) (319) Reconciling items: Severance charges (1,733) (533) (304) Other components of net periodic pension and benefit charges (Note 11) (33) (248) (387) Asset and business rationalization (374) (480) — Legacy legal matter (106) — — Verizon Business Group goodwill impairment — (5,841) — Legal settlement — (100) — Business transformation costs — (176) — Non-strategic business shutdown — (179) — Consolidated operating income 28,686 22,877 30,467 Equity in earnings (losses) of unconsolidated businesses (53) (53) 44 Other income (expense), net 995 (313) 1,373 Interest expense (6,649) (5,524) (3,613) Income Before Provision For Income Taxes $ 22,979 $ 16,987 $ 28,271 No single customer accounted for more than 10% of our total operating revenues during the years ended December 31, 2024, 2023 or 2022. International operating revenues were not significant during the years ended December 31, 2024, 2023 and 2022. As of December 31, 2024 and 2023, international long-lived assets were not significant.

Equity and Comprehensive Income

Equity and Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Equity and Comprehensive Income (Loss)	Note 14. Equity and Comprehensive Income (Loss) Equity Common Stock In February 2020, the Board of Directors of the Company authorized a share buyback program to repurchase up to 100 million shares of our common stock. The program will terminate when the aggregate number of shares purchased reaches 100 million or a new share repurchase plan superseding the current plan is authorized, whichever is sooner. During the years ended December 31, 2024, 2023, and 2022, we did not repurchase any shares of our common stock under our authorized share buyback program. At December 31, 2024, the maximum number of shares that could be purchased by or on behalf of Verizon under our share buyback program was 100 million. Common stock has been used from time to time to satisfy some of the funding requirements of employee and shareholder plans. During the years ended December 31, 2024, 2023, and 2022, we issued 5.4 million, 4.4 million and 2.1 million shares of common stock from treasury stock, which had aggregate values of $238 million, $192 million and $91 million, respectively. Noncontrolling Interests During the year ended December 31, 2024, Verizon entered into and completed agreements to acquire additional interests in certain controlled entities for cash consideration of $280 million. Verizon continues to retain controlling financial interest within these entities; therefore, the changes in ownership interest were accounted for as equity transactions. This resulted in a reduction of additional paid-in capital of $228 million, reflected in Other, and a reduction of noncontrolling interest of $52 million, reflected in Distributions and other, both within our consolidated statement of changes in equity for the year ended December 31, 2024. These transactions were recorded within Other, net cash flow from financing activities in our consolidated statement of cash flows for the year ended December 31, 2024. Accumulated Other Comprehensive Income (Loss) Comprehensive income consists of net income and other gains and losses affecting equity that, under U.S. GAAP, are excluded from net income. Significant changes in the components of Other comprehensive income (loss), net of provision for income taxes are described below. The changes in the balances of Accumulated other comprehensive income (loss) by component are as follows: (dollars in millions) Foreign currency translation adjustments Unrealized gain (loss) on cash flow hedges Unrealized gain (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 — — (371) — — (371) Other comprehensive loss (153) (174) — (25) (317) (669) Amounts reclassified to net income — 496 (60) — (334) 102 Net other comprehensive income (loss) (153) 322 (431) (25) (651) (938) Balance at December 31, 2022 (698) (1,150) (431) (9) 423 (1,865) Excluded components recognized in other comprehensive income — — 617 — — 617 Other comprehensive income 62 3 — 5 — 70 Amounts reclassified to net income — 85 (81) 2 (208) (202) Net other comprehensive income (loss) 62 88 536 7 (208) 485 Balance at December 31, 2023 (636) (1,062) 105 (2) 215 (1,380) Excluded components recognized in other comprehensive income — — 547 — — 547 Other comprehensive loss (97) (16) — (3) — (116) Amounts reclassified to net income — 97 (63) — (8) 26 Net other comprehensive income (loss) (97) 81 484 (3) (8) 457 Balance at December 31, 2024 $ (733) $ (981) $ 589 $ (5) $ 207 $ (923) 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 gain (loss) on fair value hedges in the table above are included in Other income (expense), net and Interest expense in our consolidated statements of income. See Note 9 for additional information. The amounts reclassified to net income related to unrealized gain (loss) on marketable securities in the table above are included in Other income (expense), net in our consolidated statements of income. The amounts reclassified to net income related to defined benefit pension and postretirement plans in the table above are included in Other income (expense), net in our consolidated statements of income. See Note 11 for additional information.

Additional Financial Informatio

Additional Financial Information	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Information	Note 15. Additional Financial Information The following tables provide additional financial information related to our consolidated financial statements: Income Statement Information (dollars in millions) Years Ended December 31, 2024 2023 2022 Depreciation expense $ 15,112 $ 14,937 $ 14,592 Interest costs on debt balances 7,382 7,123 5,429 Net amortization of debt discount 230 219 214 Capitalized interest costs (963) (1,818) (2,030) Advertising expense 3,976 3,847 3,556 (dollars in millions) Years Ended December 31, 2024 2023 2022 Other income (expense), net Interest income $ 336 $ 354 $ 146 Other components of net periodic benefit (cost) income 300 (938) 2,386 Net debt extinguishment gains (losses) 385 308 (1,077) Other, net (26) (37) (82) $ 995 $ (313) $ 1,373 Balance Sheet Information (dollars in millions) At December 31, 2024 2023 Prepaid expenses and other Prepaid taxes $ 811 $ 550 Deferred contract costs 2,932 2,756 Collateral payments related to derivative contracts 2,118 1,406 Restricted cash 319 1,244 Other prepaid expense and other 1,793 1,651 $ 7,973 $ 7,607 Accounts payable and accrued liabilities Accounts payable $ 10,425 $ 10,021 Accrued expenses 5,058 5,190 Accrued vacation, salaries and wages 4,436 4,060 Interest payable 1,553 1,570 Taxes payable 1,902 2,612 $ 23,374 $ 23,453 Other current liabilities Dividends payable $ 2,878 $ 2,821 Contract liability 7,492 6,955 Other 3,979 2,755 $ 14,349 $ 12,531 As of December 31, 2024 and 2023, Property, plant and equipment includes approximately $3.3 billion and $3.8 billion, respectively, of additions that have not yet been paid. Cash Flow Information (dollars in millions) Years Ended December 31, 2024 2023 2022 Cash Paid Interest, net of amounts capitalized $ 5,505 $ 4,384 $ 3,316 Income taxes, net of amounts refunded 5,632 2,343 2,736 Other, net Cash Flows from Operating Activities Changes in device payment plan agreement non-current receivables $ (538) $ (2,975) $ (4,919) Net debt extinguishment (gains) losses (385) (308) 1,077 Other, net 1,096 (427) 64 $ 173 $ (3,710) $ (3,778) Other, net Cash Flows from Financing Activities Net debt related costs (1) $ (259) $ (73) $ (366) Other, net (816) (1,397) (1,706) $ (1,075) $ (1,470) $ (2,072) (1) These costs include the premiums paid for the early extinguishment of debt, fees paid in connection with exchange and tender offers, and settlements of associated instruments. Supplier Finance Program We maintain a voluntary supplier finance program (SFP) with a financial institution which provides certain suppliers the option, at their sole discretion, to participate in the program and sell their receivables due from Verizon to the financial institution on a non-recourse basis. The eligible suppliers negotiate the terms directly with the financial institution and we have no involvement in establishing those terms nor are we a party to these agreements. Our payments associated with the invoices from the suppliers participating in the SFP are made to the financial institution according to the original invoice terms generally at 90 days from the invoice date and for the original invoice amount. No additional payments are exchanged between Verizon and the financial institution related to the SFP. Verizon does not pledge any assets nor provide any guarantees to the financial institution in connection with the SFP. The SFP can be terminated by Verizon or the financial institution with a 60-day notice period. The following table presents the confirmed obligations in the SFP and the related activities: (dollars in millions) Year Ended December 31, 2024 Confirmed obligations outstanding at the beginning of the year $ 817 Invoices added during the year 3,549 Invoices paid during the year (3,594) Confirmed obligations outstanding at the end of year $ 772 Confirmed obligations outstanding related to suppliers participating in the SFP are recorded within Accounts payable and accrued liabilities in our consolidated balance sheets and the associated payments are reflected in the operating activities section of our consolidated statements of cash flows. As of December 31, 2024 and 2023 obligations outstanding related to suppliers

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 16. Commitments and Contingencies In the ordinary course of business, Verizon is involved in various 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, Verizon 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 30 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 have gone to trial or 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. As of December 31, 2024, letters of credit totaling approximately $816 million, which were executed in the normal course of business and support several financing arrangements and payment obligations to third parties, were outstanding. As of December 31, 2024, Verizon had 28 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 of 12 to 20 years from the commencement of the facility's entry into commercial operation. Nineteen of the facilities have entered into commercial operation, and the remainder are under development. The REPAs generally are expected to be financially settled based on the prevailing market price as energy is generated by the facilities. We have various unconditional purchase obligations, which represent agreements to purchase goods or services that are enforceable and legally binding. We estimate that these unconditional purchase obligations, for contracts with terms in excess of one year, total $16.7 billion, and primarily represent commitments to purchase content, network equipment, software and services, marketing services and other items which will be used or sold in the ordinary course of business from a variety of suppliers. Of this total amount, $6.2 billion is attributable to 2025, $5.5 billion is attributable to 2026, $3.1 billion is attributable to 2027, $1.3 billion is attributable to 2028, $291 million is attributable to 2029 and $363 million is attributable to years thereafter. These amounts do not represent our entire anticipated purchases in the future, but represent only those items that are the subject of contractual obligations. Our commitments are generally determined based on the noncancelable quantities to which we are contractually obliged. Since the commitments to purchase programming services from television networks and broadcast stations have no minimum volume requirement, we estimated our obligation based on number of subscribers at December 31, 2024, and applicable rates stipulated in the contracts in effect at that time. We also purchase products and services as needed with no firm commitment.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II - Valuation and Qualifying Accounts Verizon Communications Inc. and Subsidiaries For the Years Ended December 31, 2024, 2023 and 2022 (dollars in millions) Additions Description Balance at Charged to Charged to Other Accounts (a) Deductions (b) Balance at End of Period (c) Allowance for credit losses deducted from accounts receivable: Year 2024 $ 1,609 $ 2,269 $ 113 $ 2,222 $ 1,769 Year 2023 1,261 2,146 38 1,836 1,609 Year 2022 1,151 1,531 69 1,490 1,261 Additions Description Balance at Charged to Charged to Other Accounts (d) Deductions (e) Balance at End of Period Valuation allowance for deferred tax assets: Year 2024 $ 1,341 $ 157 $ — $ 99 $ 1,399 Year 2023 1,347 68 13 87 1,341 Year 2022 1,574 41 — 268 1,347 (a) Charged to Other Accounts primarily includes amounts previously written off which were credited directly to this account when recovered. (b) Deductions primarily include amounts written off as uncollectible or transferred to other accounts or utilized. (c) Allowance for credit losses includes approximately $617 million, $592 million, and $436 million at December 31, 2024, 2023, and 2022, respectively, related to long-term device payment receivables. (d) Charged to Other Accounts includes current year increase to valuation allowance charged to equity and reclassifications from other balance sheet accounts. (e) Reductions to valuation allowances related to deferred tax assets.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 17,506	$ 11,614	$ 21,256

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Verizon’s Senior Vice President and Chief Information Security Officer (CISO) has responsibility for the management of cybersecurity risks at Verizon. The CISO and her team are responsible for Verizon’s information security strategy, policy, standards, architecture and processes. The CISO brings nearly two decades of cybersecurity experience to her work at Verizon. Prior to joining Verizon, she held executive-level cybersecurity roles at other large public companies, where she was responsible for cybersecurity strategy and operations, including incident response, threat intelligence, security services, architecture, commercial operational technology security, and regulatory and compliance matters. Verizon effectuates cybersecurity management by providing for close cooperation among the CISO’s team and other teams within the company, as well as by integrating cybersecurity risk into Verizon’s overall enterprise risk management structures and processes. Each of our business units and certain functional groups have a Business Information Security Officer, who is an integral member of that unit or group, but reports to the CISO. This structure provides the CISO with line of sight across the enterprise. The CISO and members of her leadership team also meet regularly with business unit senior leaders, including the CEO, the Chief Financial Officer (CFO) and the Chief Human Resources Officer, to discuss business priorities, emerging threats and trends, and the performance of the cybersecurity program. The Verizon Executive Security Council (VESC) oversees and evaluates the work of the CISO and their team. The VESC is jointly chaired by the head of Verizon Global Services and the President of Global Networks and Technology and includes Verizon’s Chief Compliance Officer, Chief Legal Officer, Senior Vice President of Internal Audit and senior executives in business and technology functions. The VESC provides oversight of all aspects of Verizon’s cybersecurity program and, at regular intervals throughout the year, evaluates key cybersecurity metrics as well as planned and ongoing initiatives to reduce cybersecurity risks. Verizon’s Management Audit Committee (VMAC), which includes our CFO, Senior Vice President of Internal Audit and other senior executives, is responsible for overseeing components of our overall risk management strategy. The VMAC receives quarterly updates from the CISO on Verizon’s cybersecurity program. Verizon also operates a robust internal audit program. Each year, Verizon’s internal audit team conducts an overall business risk assessment, which includes an evaluation of cybersecurity risks. The results of the assessment are presented to the leaders of the relevant business teams, who are responsible for prioritizing and addressing the risks identified.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Integrated Cybersecurity Risk Management Verizon’s Senior Vice President and Chief Information Security Officer (CISO) has responsibility for the management of cybersecurity risks at Verizon. The CISO and her team are responsible for Verizon’s information security strategy, policy, standards, architecture and processes. The CISO brings nearly two decades of cybersecurity experience to her work at Verizon. Prior to joining Verizon, she held executive-level cybersecurity roles at other large public companies, where she was responsible for cybersecurity strategy and operations, including incident response, threat intelligence, security services, architecture, commercial operational technology security, and regulatory and compliance matters. Verizon effectuates cybersecurity management by providing for close cooperation among the CISO’s team and other teams within the company, as well as by integrating cybersecurity risk into Verizon’s overall enterprise risk management structures and processes. Each of our business units and certain functional groups have a Business Information Security Officer, who is an integral member of that unit or group, but reports to the CISO. This structure provides the CISO with line of sight across the enterprise. The CISO and members of her leadership team also meet regularly with business unit senior leaders, including the CEO, the Chief Financial Officer (CFO) and the Chief Human Resources Officer, to discuss business priorities, emerging threats and trends, and the performance of the cybersecurity program. The Verizon Executive Security Council (VESC) oversees and evaluates the work of the CISO and their team. The VESC is jointly chaired by the head of Verizon Global Services and the President of Global Networks and Technology and includes Verizon’s Chief Compliance Officer, Chief Legal Officer, Senior Vice President of Internal Audit and senior executives in business and technology functions. The VESC provides oversight of all aspects of Verizon’s cybersecurity program and, at regular intervals throughout the year, evaluates key cybersecurity metrics as well as planned and ongoing initiatives to reduce cybersecurity risks. Verizon’s Management Audit Committee (VMAC), which includes our CFO, Senior Vice President of Internal Audit and other senior executives, is responsible for overseeing components of our overall risk management strategy. The VMAC receives quarterly updates from the CISO on Verizon’s cybersecurity program. Verizon also operates a robust internal audit program. Each year, Verizon’s internal audit team conducts an overall business risk assessment, which includes an evaluation of cybersecurity risks. The results of the assessment are presented to the leaders of the relevant business teams, who are responsible for prioritizing and addressing the risks identified.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Audit Committee of the Board of Directors (Board) has primary responsibility for overseeing Verizon’s risk management and compliance programs relating to cybersecurity and data protection and privacy. As part of the Board’s oversight of risks from cybersecurity threats, the CISO leads an annual review and discussion with the full Board dedicated to Verizon’s cybersecurity risks, threats and protections. The CISO provides a mid-year update to this annual review to the Audit Committee and, as warranted, additional updates throughout the year. The Audit Committee also receives a report from senior management on Verizon’s cybersecurity posture and related matters at each of its other meetings during the year at which the CISO is not present.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Verizon Executive Security Council (VESC) oversees and evaluates the work of the CISO and their team. The VESC is jointly chaired by the head of Verizon Global Services and the President of Global Networks and Technology and includes Verizon’s Chief Compliance Officer, Chief Legal Officer, Senior Vice President of Internal Audit and senior executives in business and technology functions. The VESC provides oversight of all aspects of Verizon’s cybersecurity program and, at regular intervals throughout the year, evaluates key cybersecurity metrics as well as planned and ongoing initiatives to reduce cybersecurity risks. Verizon’s Management Audit Committee (VMAC), which includes our CFO, Senior Vice President of Internal Audit and other senior executives, is responsible for overseeing components of our overall risk management strategy. The VMAC receives quarterly updates from the CISO on Verizon’s cybersecurity program. The Audit Committee of the Board of Directors (Board) has primary responsibility for overseeing Verizon’s risk management and compliance programs relating to cybersecurity and data protection and privacy.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee of the Board of Directors (Board) has primary responsibility for overseeing Verizon’s risk management and compliance programs relating to cybersecurity and data protection and privacy. As part of the Board’s oversight of risks from cybersecurity threats, the CISO leads an annual review and discussion with the full Board dedicated to Verizon’s cybersecurity risks, threats and protections. The CISO provides a mid-year update to this annual review to the Audit Committee and, as warranted, additional updates throughout the year. The Audit Committee also receives a report from senior management on Verizon’s cybersecurity posture and related matters at each of its other meetings during the year at which the CISO is not present.
Cybersecurity Risk Role of Management [Text Block]	Verizon’s Senior Vice President and Chief Information Security Officer (CISO) has responsibility for the management of cybersecurity risks at Verizon. The CISO and her team are responsible for Verizon’s information security strategy, policy, standards, architecture and processes. The CISO brings nearly two decades of cybersecurity experience to her work at Verizon. Prior to joining Verizon, she held executive-level cybersecurity roles at other large public companies, where she was responsible for cybersecurity strategy and operations, including incident response, threat intelligence, security services, architecture, commercial operational technology security, and regulatory and compliance matters. Verizon effectuates cybersecurity management by providing for close cooperation among the CISO’s team and other teams within the company, as well as by integrating cybersecurity risk into Verizon’s overall enterprise risk management structures and processes. Each of our business units and certain functional groups have a Business Information Security Officer, who is an integral member of that unit or group, but reports to the CISO. This structure provides the CISO with line of sight across the enterprise. The CISO and members of her leadership team also meet regularly with business unit senior leaders, including the CEO, the Chief Financial Officer (CFO) and the Chief Human Resources Officer, to discuss business priorities, emerging threats and trends, and the performance of the cybersecurity program. The Verizon Executive Security Council (VESC) oversees and evaluates the work of the CISO and their team. The VESC is jointly chaired by the head of Verizon Global Services and the President of Global Networks and Technology and includes Verizon’s Chief Compliance Officer, Chief Legal Officer, Senior Vice President of Internal Audit and senior executives in business and technology functions. The VESC provides oversight of all aspects of Verizon’s cybersecurity program and, at regular intervals throughout the year, evaluates key cybersecurity metrics as well as planned and ongoing initiatives to reduce cybersecurity risks. Verizon’s Management Audit Committee (VMAC), which includes our CFO, Senior Vice President of Internal Audit and other senior executives, is responsible for overseeing components of our overall risk management strategy. The VMAC receives quarterly updates from the CISO on Verizon’s cybersecurity program. Verizon also operates a robust internal audit program. Each year, Verizon’s internal audit team conducts an overall business risk assessment, which includes an evaluation of cybersecurity risks. The results of the assessment are presented to the leaders of the relevant business teams, who are responsible for prioritizing and addressing the risks identified.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Verizon’s Senior Vice President and Chief Information Security Officer (CISO) has responsibility for the management of cybersecurity risks at Verizon. The CISO and her team are responsible for Verizon’s information security strategy, policy, standards, architecture and processes. The CISO brings nearly two decades of cybersecurity experience to her work at Verizon. Prior to joining Verizon, she held executive-level cybersecurity roles at other large public companies, where she was responsible for cybersecurity strategy and operations, including incident response, threat intelligence, security services, architecture, commercial operational technology security, and regulatory and compliance matters. Verizon effectuates cybersecurity management by providing for close cooperation among the CISO’s team and other teams within the company, as well as by integrating cybersecurity risk into Verizon’s overall enterprise risk management structures and processes. Each of our business units and certain functional groups have a Business Information Security Officer, who is an integral member of that unit or group, but reports to the CISO. This structure provides the CISO with line of sight across the enterprise. The CISO and members of her leadership team also meet regularly with business unit senior leaders, including the CEO, the Chief Financial Officer (CFO) and the Chief Human Resources Officer, to discuss business priorities, emerging threats and trends, and the performance of the cybersecurity program. The Verizon Executive Security Council (VESC) oversees and evaluates the work of the CISO and their team. The VESC is jointly chaired by the head of Verizon Global Services and the President of Global Networks and Technology and includes Verizon’s Chief Compliance Officer, Chief Legal Officer, Senior Vice President of Internal Audit and senior executives in business and technology functions. The VESC provides oversight of all aspects of Verizon’s cybersecurity program and, at regular intervals throughout the year, evaluates key cybersecurity metrics as well as planned and ongoing initiatives to reduce cybersecurity risks. Verizon’s Management Audit Committee (VMAC), which includes our CFO, Senior Vice President of Internal Audit and other senior executives, is responsible for overseeing components of our overall risk management strategy. The VMAC receives quarterly updates from the CISO on Verizon’s cybersecurity program. Verizon also operates a robust internal audit program. Each year, Verizon’s internal audit team conducts an overall business risk assessment, which includes an evaluation of cybersecurity risks. The results of the assessment are presented to the leaders of the relevant business teams, who are responsible for prioritizing and addressing the risks identified.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The CISO brings nearly two decades of cybersecurity experience to her work at Verizon. Prior to joining Verizon, she held executive-level cybersecurity roles at other large public companies, where she was responsible for cybersecurity strategy and operations, including incident response, threat intelligence, security services, architecture, commercial operational technology security, and regulatory and compliance matters.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	As part of the Board’s oversight of risks from cybersecurity threats, the CISO leads an annual review and discussion with the full Board dedicated to Verizon’s cybersecurity risks, threats and protections. The CISO provides a mid-year update to this annual review to the Audit Committee and, as warranted, additional updates throughout the year. The Audit Committee also receives a report from senior management on Verizon’s cybersecurity posture and related matters at each of its other meetings during the year at which the CISO is not present.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Consolidation	Consolidation The method of accounting applied to investments, whether consolidated or equity, involves an evaluation of all significant terms of the investments that explicitly grant or suggest evidence of control or influence over the operations of the investee. The consolidated financial statements include our controlled subsidiaries, as well as variable interest entities (VIE) where we are deemed to be the primary beneficiary. For controlled subsidiaries that are not wholly-owned, the noncontrolling interests are included in Net income and Total equity. Investments in businesses that we do not control, but have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method. Equity method investments are included in Investments in unconsolidated businesses in our consolidated balance sheets. All significant intercompany accounts and transactions have been eliminated.
Basis of Presentation	Basis of Presentation We have reclassified certain prior year amounts to conform to the current year presentation.
Use of Estimates	Use of Estimates We prepare our financial statements using U.S. generally accepted accounting principles (GAAP), which requires management to make estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions take into account historical and forward-looking factors that the Company believes are reasonable. Actual results could differ significantly from those estimates. Examples of significant estimates include the allowance for credit losses, the recoverability of property, plant and equipment and other long-lived assets, the incremental borrowing rate for the lease liability, fair value measurements, including those related to financial instruments, goodwill, spectrum licenses and intangible assets, unrecognized tax benefits, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations.
Revenue Recognition	Revenue Recognition We earn revenue from contracts with customers, primarily through the provision of telecommunications and other services and through the sale of wireless equipment. These services include a variety of communication and connectivity services for our Consumer and Business customers including other carriers that use our facilities to provide services to their customers, as well as professional and integrated managed services for our large enterprise and government customers. We account for these revenues under Topic 606. We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. Nature of Products and Services Telecommunications Service We offer wireless services through a variety of plans on a postpaid or prepaid basis. For wireless service, we recognize revenue using an output method, either as the service allowance units are used or as time elapses, because it reflects the pattern by which we satisfy our performance obligation through the transfer of service to the customer. Monthly service is generally billed in advance, which results in a contract liability. See Note 2 for additional information. For postpaid plans, where monthly usage exceeds the allowance, the overage usage represents options held by the customer for incremental services and the usage-based fee is recognized when the customer exercises the option (typically on a month-to-month basis). For our contracts related to wireline communication and connectivity services, in general, fixed monthly fees for service are billed one month in advance, which results in a contract liability, and service revenue is recognized over the enforceable contract term as the service is rendered, as the customer simultaneously receives and consumes the benefits of the services through network access and usage. While substantially all of our wireline service revenue contracts are the result of providing access to our networks, revenue from services that are not fixed in amount and, instead, are based on usage are generally billed in arrears and recognized as the usage occurs. Equipment We sell wireless devices and accessories under the Verizon brand and other brands. Equipment revenue is generally recognized when the products are delivered to and accepted by the customer, as this is when control passes to the customer. In addition to offering the sale of equipment on a standalone basis, we have two primary offerings through which customers pay for a wireless device, in connection with a service contract: fixed-term plans (for our Business customers) and device payment plans. Under a fixed-term plan, the customer is sold the wireless device without any upfront charge or at a discounted price in exchange for entering into a fixed-term service contract (typically for a term of 36 months or less). Under a device payment plan, the customer is sold the wireless device in exchange for a non-interest-bearing installment note, which is repaid by the customer, typically over a 36-month term, and concurrently enters into a month-to-month contract for wireless service. We may offer certain promotions that provide billing credits applied over a specified term, contingent upon the customer maintaining service. The credits are included in the transaction price, which are allocated to the performance obligations based on their relative selling price and are recognized when earned. A financing component exists in both our fixed-term plans and device payment plans because the timing of the payment for the device, which occurs over the contract term, differs from the satisfaction of the performance obligation, which occurs at contract inception upon transfer of the device to the customer. We periodically assess, at the contract level, the significance of the financing component inherent in our fixed-term and device payment plan receivable based on qualitative and quantitative considerations related to our customer classes. These considerations include assessing the commercial objective of our plans, the term and duration of financing provided, interest rates prevailing in the marketplace, and credit risks of our customer classes, all of which impact our selection of appropriate discount rates. Based on current facts and circumstances, we determined that the financing component in our existing wireless device payments and fixed-term contracts sold through the direct channel is not significant and therefore is not accounted for separately. See Note 8 for additional information on the interest on equipment financed on a device payment plan agreement when sold to the customer by an authorized agent in our indirect channel. Wireless Contracts For our wireless contracts, total contract revenue, which represents the transaction price for wireless service and wireless equipment, is allocated between service and equipment revenue based on their estimated standalone selling prices. We estimate the standalone selling price of the device or accessory to be its retail price excluding subsidies or conditional purchase discounts. We estimate the standalone selling price of wireless service to be the price that we offer to customers on month-to-month contracts that can be cancelled at any time without penalty (i.e., when there is no fixed-term for service) or when service is procured without the concurrent purchase of a wireless device. In addition, we also assess whether the service term is impacted by certain legally enforceable rights and obligations in our contract with customers, such as penalties that a customer would have to pay to early terminate a fixed-term contract or billing credits that would cease if the month-to-month wireless service is canceled. The assessment of these legally enforceable rights and obligations involves judgment and impacts our determination of the transaction price and related disclosures. From time to time, we may offer certain promotions that provide our customers on device payment plans with the right to upgrade to a new device after paying a specified portion of their device payment plan agreement amount and trading in their device in good working order. We account for this trade-in right as a guarantee obligation. The full amount of the trade-in right's fair value is recognized as a guarantee liability and results in a reduction to the revenue recognized upon the sale of the device. The total transaction price is reduced by the guarantee, which is accounted for outside the scope of Topic 606, and the remaining transaction price is allocated between the performance obligations within the contract. Our fixed-term plans generally include the sale of a wireless device at subsidized prices. This results in the creation of a contract asset at the time of sale, which represents the recognition of equipment revenue in excess of amounts billed. For our device payment plans, billing credits are accounted for as consideration payable to a customer and are included in the determination of total transaction price, resulting in a contract liability. We may provide a right of return on our products and services for a short time period after a sale. These rights are accounted for as variable consideration when determining the transaction price, and accordingly we recognize revenue based on the estimated amount to which we expect to be entitled after considering expected returns. Returns and credits are estimated at contract inception and updated at the end of each reporting period as additional information becomes available. We also may provide credits or incentives on our products and services for contracts with resellers, which are accounted for as variable consideration when estimating the amount of revenue to recognize. Wireline Contracts Total consideration for wireline services that are bundled in a single contract is allocated to each performance obligation based on our standalone selling price for each service. While many contracts include one or more service performance obligations, the revenue recognition pattern is generally not impacted by the allocation since the services are generally satisfied over the same period of time. We estimate the standalone selling price to be the price of the services when sold on a standalone basis without any promotional discount. In addition, we also assess whether the service term is impacted by certain legally enforceable rights and obligations in our contract with customers such as penalties that a customer would have to pay to early terminate a fixed-term contract. The assessment of these legally enforceable rights and obligations involves judgment and impacts our determination of transaction price and related disclosures. We may provide performance-based credits or incentives on our products and services for contracts with our Business customers, which are accounted for as variable consideration when estimating the transaction price. Credits are estimated at contract inception and are updated at the end of each reporting period as additional information becomes available. Wireless and Wireline Contracts For offers that include third-party providers, we evaluate whether we are acting as the principal or as the agent with respect to the goods or services provided to the customer. This principal-versus-agent assessment involves judgment and focuses on whether the facts and circumstances of the arrangement indicate that the goods or services were controlled by us prior to transferring them to the customer. To evaluate if we have control, we consider various factors including whether we are primarily responsible for fulfillment, bear risk of loss and have discretion over pricing. Other We offer telematics services including smart fleet management and optimization software. Telematics service revenue is generated primarily through subscription contracts. We recognize revenue over time for our subscription contracts. We report taxes collected from customers on behalf of governmental authorities on revenue-producing transactions on a net basis. The timing of revenue recognition may differ from the time of billing to our customers. Receivables presented in our 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 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. As discussed in Note 1, 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.
Maintenance and Repairs	Maintenance and Repairs We charge the cost of maintenance and repairs, including the cost of replacing minor items not constituting substantial betterments, principally to Cost of services as these costs are incurred.
Advertising Costs	Advertising Costs
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share are based on the weighted-average number of shares outstanding during the period. Where appropriate, diluted earnings per common share include the dilutive effect of shares issuable under our stock-based compensation plans.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash We consider all highly liquid investments with an original maturity of 90 days or less when purchased to be cash equivalents. Cash equivalents are stated at cost, which approximates quoted market value and includes amounts held in money market funds. Cash collections on the receivables and on the underlying receivables related to the participation interest 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.
Investments in Debt and Equity Securities	Investments in Debt and Equity Securities
Allowance for Credit Losses	Allowance for Credit Losses Accounts receivable are recorded at amortized cost less an allowance for credit losses that are not expected to be recovered. The gross amount of accounts receivable and corresponding allowance for credit losses are presented separately in the consolidated balance sheets. We maintain allowances for credit losses resulting from the expected failure or inability of our customers to make required payments. We recognize the allowance for credit losses at inception and reassess quarterly based on management’s expectation of the asset’s collectability. The allowance is based on multiple factors including historical experience with bad debts, the credit quality of the customer base, the aging of such receivables and current macroeconomic conditions, as well as management’s expectations of conditions in the future, as applicable. Our allowance for credit losses is based on management’s assessment of the collectability of assets pooled together with similar risk characteristics. We pool our device payment plan agreement receivables based on the credit quality indicators and shared risk characteristics of "new customers" and "existing customers." New customers are defined as customers who have been with Verizon for less than 210 days. Existing customers are defined as customers who have been with Verizon for 210 days or more. We record an allowance to reduce the receivables to the amount that is expected to be collectible. For device payment plan agreement receivables, we record bad debt expense based on a default and loss calculation using our proprietary loss model. The expected loss rate is determined based on customer credit scores and other qualitative factors as noted above. The loss rate is assigned individually on a customer by customer basis and the custom credit scores are then aggregated by vintage and used in our proprietary loss model to calculate the weighted-average loss rate used for determining the allowance balance. We monitor the collectability of our wireless service receivables as one overall pool. Wireline service receivables are disaggregated and pooled by the following types of customers and related contracts: consumer, small and medium business, 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 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. We consider multiple factors in determining the allowance as discussed above.
Inventories	Inventories Inventory consists of wireless and wireline equipment held for sale, which is carried at the lower of cost (determined principally on either an average cost or first-in, first-out basis) or net realizable value.
Property, Plant and Equipment and Depreciation	Property, Plant and Equipment and Depreciation We record property, plant and equipment at cost. Property, plant and equipment are generally depreciated on a straight-line basis. Leasehold improvements are amortized over the shorter of the estimated life of the improvement or the remaining term of the related lease, calculated from the time the asset was placed in service. When depreciable assets are retired or otherwise disposed of, the related cost and accumulated depreciation are deducted from the property, plant and equipment accounts and any gains or losses on disposition are recognized in Selling, general and administrative expense. We capitalize and depreciate network software purchased or developed within property, plant and equipment assets. We also capitalize interest associated with the acquisition or construction of network-related assets. Capitalized interest is reported as a reduction in interest expense and depreciated as part of the cost of the network-related assets.
Computer Software and Cloud Computing Costs	Computer Software and Cloud Computing Costs We capitalize the cost of internal-use network and non-network software and defer the costs associated with cloud computing service arrangements that have a useful life and term in excess of one year. Subsequent additions, modifications or upgrades to internal-use network and non-network software are capitalized only to the extent that they add significant new functionality. Planning, software maintenance and training costs for internal-use software and cloud computing arrangements are expensed in the period in which they are incurred. We capitalize interest associated with the development of internal-use network and non-network software. Capitalized non-network internal-use software costs are amortized using the straight-line method over a period of 3 to 7 years and are included in Other intangible assets, net in our consolidated balance sheets. Costs incurred in implementing a cloud computing service arrangement are deferred during the application-development stage and recorded as Prepaid expense and other in our consolidated balance sheets. Once a project is substantially complete and ready for its intended use, we stop deferring the related cloud computing arrangement costs. For a discussion of our impairment policy for capitalized non-network software costs, see "Goodwill and Other Intangible Assets" below. See Note 4 for additional information of internal-use non-network software reflected in our consolidated balance sheets. Similar to capitalized software costs, deferred costs associated with cloud computing arrangements are subject to impairment testing.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill Goodwill is the excess of the acquisition cost of businesses over the fair value of the identifiable net assets acquired. Impairment testing for goodwill is performed annually in the fourth quarter or more frequently if impairment indicators are present. To determine if goodwill is potentially impaired, we have the option to perform a qualitative assessment. However, we may elect to bypass the qualitative assessment and perform a quantitative impairment test even if no indications of a potential impairment exist. It is our policy to perform quantitative impairment assessment at least every three years. Under the qualitative assessment, we consider several factors, including the enterprise value of the reporting unit from the last quantitative test and the excess of fair value over carrying value from this test, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations (including industry revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) margin results, projections and recent merger and acquisition activity), the recent and projected financial performance of the reporting unit, as well as other factors. The quantitative impairment test for goodwill is performed at the reporting unit level and compares the fair value of the reporting unit (calculated using a combination of a market approach and a discounted cash flow method, as a form of the income approach) to its carrying value. Estimated fair values of reporting units are Level 3 measures in the fair value hierarchy, see "Fair Value Measurements" discussion below for additional information. The market approach includes the use of comparative multiples of guideline companies to complement discounted cash flow results. The discounted cash flow method is based on the present value of two components, projected cash flows and a terminal value. The terminal value represents the expected normalized future cash flows of the reporting unit beyond the cash flows from the discrete projection period. The fair value of the reporting unit is calculated based on the sum of the present value of the cash flows from the discrete period and the present value of the terminal value. The discount rate represents our estimate of the weighted-average cost of capital, or expected return, that a marketplace participant would have required as of the valuation date. If the carrying value exceeds the fair value, an impairment charge is booked for the excess carrying value over fair value, limited to the total amount of goodwill of that reporting unit. During the fourth quarter each year, we update our three-year strategic planning review for each of our reporting units. Those plans consider current economic conditions and trends, estimated future operating results, our view of growth-rates and anticipated future economic and regulatory conditions. See Note 4 for additional information regarding our goodwill impairment testing. Intangible Assets Not Subject to Amortization A significant portion of our intangible assets are wireless licenses that provide our wireless operations with the exclusive right to utilize designated radio frequency spectrum to provide wireless communication services. While licenses are issued for only a fixed time, generally ten We test our wireless licenses for potential impairment annually or more frequently if impairment indicators are present. We have the option to first perform a qualitative assessment to determine whether it is necessary to perform a quantitative impairment test. However, we may elect to bypass the qualitative assessment in any period and proceed directly to performing the quantitative impairment test. It is our policy to perform quantitative impairment assessment at least every three years. As part of our qualitative assessment we consider several factors including the enterprise value of our combined wireless business, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations (including industry revenue and EBITDA margin results, projections and recent merger and acquisition activity), the recent and projected financial performance of our combined wireless business as a whole, as well as other factors including the result of our last quantitative assessment. See Note 4 for additional information regarding our impairment tests. Our quantitative impairment assessment consists of comparing the estimated fair value of our aggregate wireless licenses to the aggregated carrying amount as of the test date. Under our quantitative assessment, we estimate the fair value of our wireless licenses using the Greenfield approach. The Greenfield approach is an income based valuation approach that values the wireless licenses by calculating the cash flow generating potential of a hypothetical start-up company that goes into business with no assets except the wireless licenses to be valued. A discounted cash flow analysis is used to estimate what a marketplace participant would be willing to pay to purchase the aggregated wireless licenses as of the valuation date. If the estimated fair value of the aggregated wireless licenses is less than the aggregated carrying amount of the wireless licenses, then an impairment charge is recognized. Interest expense incurred while qualifying activities are performed to ready wireless licenses for their intended use is capitalized as part of wireless licenses. The capitalization period ends when the development is discontinued or substantially completed and the license is ready for its intended use. Wireless licenses can be purchased through public auctions conducted by the FCC. Deposits required to participate in these auctions and purchase licenses are recorded within Other assets in our consolidated balance sheets until the corresponding licenses are received and within Net cash used in investing activities in our consolidated statements of cash flows. Intangible Assets Subject to Amortization and Long-Lived Assets Our intangible assets that do not have indefinite lives (primarily customer lists and non-network internal-use software) are amortized over their estimated useful lives. All of our intangible assets subject to amortization and other long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If any indications of impairment are present, we would test for recoverability by comparing the carrying amount of the asset group to the net undiscounted cash flows expected to be generated from the asset group. If those net undiscounted cash flows do not exceed the carrying amount, we would perform the next step, which is to determine the fair value of the asset group and record an impairment, if any. We re-evaluate the useful life determinations for these intangible assets each year to determine whether events and circumstances warrant a revision to their remaining useful lives. See Note 4 for information related to the carrying amount of goodwill, wireless licenses and other intangible assets, as well as the major components and average useful lives of our other acquired intangible assets.
Leases	Leases We lease network equipment including towers, distributed antenna systems, small cells, real estate, connectivity mediums which include dark fiber, equipment, and other various types of assets for use in our operations under both operating and finance leases. We assess whether an arrangement is a lease or contains a lease at inception. For arrangements considered leases or that contain a lease that is accounted for separately, we determine the classification and initial measurement of the right-of-use asset and lease liability at the lease commencement date, which is the date that the underlying asset becomes available for use. For both operating and finance leases, we recognize a right-of-use asset, which represents our right to use the underlying asset for the lease term, and a lease liability, which represents the present value of our obligation to make payments arising over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases. The incremental borrowing rate is determined using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. Management uses the unsecured borrowing rate and risk-adjusts that rate to approximate a collateralized rate, which is updated on a quarterly basis. In those circumstances where Verizon is the lessee, we account for non-lease components associated with our leases (e.g., common area maintenance costs) and lease components as a single lease component for substantially all of our asset classes. Additionally, in arrangements where we are the lessor, we have customer premise equipment for which we account for non-lease components (e.g., service revenue) and lease components as combined components under the revenue recognition guidance in Topic 606 as the service revenues are the predominant components in the arrangements. Rent expense for operating leases is recognized on a straight-line basis over the term of the lease and is included in either Cost of services or Selling, general and administrative expense in our consolidated statements of income, based on the use of the facility or equipment on which rent is being paid. Variable rent payments related to both operating and finance leases are expensed in the period incurred. Our variable lease payments consist of payments dependent on various external indicators, including real estate taxes, common area maintenance charges and utility usage. Operating leases with a term of 12 months or less are not recorded in our consolidated balance sheets; we recognize rent expense for these leases on a straight-line basis over the lease term. We recognize the amortization of the right-of-use asset for our finance leases on a straight-line basis over the shorter of the lease term or the useful life of the right-of-use asset in Depreciation and amortization expense in our consolidated statements of income. The interest expense related to finance leases is recognized using the effective interest method based on the discount rate determined at lease commencement and is included within Interest expense in our consolidated statements of income. See Note 6 for additional information related to leases, including disclosure required under Topic 842.
Fair Value Measurements	Fair Value Measurements Fair value of financial and non-financial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The three-tier hierarchy for inputs used in measuring fair value, which prioritizes the inputs used in the methodologies of measuring fair value for assets and liabilities, is as follows: Level 1 — Quoted prices in active markets for identical assets or liabilities Level 2 — Observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3 — Unobservable pricing inputs in the market
Income Taxes	Income Taxes Our effective tax rate is based on pre-tax income, statutory tax rates, tax laws and regulations and tax planning strategies available to us in the various jurisdictions in which we operate. Deferred income taxes are provided for temporary differences in the basis between financial statement and income tax assets and liabilities. Deferred income taxes are recalculated annually at tax rates in effect for the years in which those tax assets and liabilities are expected to be realized or settled. We record valuation allowances to reduce our deferred tax assets to the amount that is more likely than not to be realized. We use a two-step approach for recognizing and measuring tax benefits taken or expected to be taken in a tax return. The first step is recognition: we determine whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. In evaluating whether a tax position has met the more-likely-than-not recognition threshold, we presume that the position will be examined by the appropriate taxing authority that has full knowledge of all relevant information. The second step is measurement: a tax position that meets the more-likely-than-not recognition threshold is measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Differences between tax positions taken in a tax return and amounts recognized in the financial statements will generally result in one or more of the following: an increase in a liability for income taxes payable, a reduction of an income tax refund receivable, a reduction in a deferred tax asset or an increase in a deferred tax liability. Significant management judgment is required in evaluating our tax positions and in determining our effective tax rate.
Stock-Based Compensation	Stock-Based Compensation We measure and recognize compensation expense for all stock-based compensation awards made to employees and directors based on estimated fair values. See Note 10 for additional information.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions The functional currency of our foreign operations is generally the local currency. For these foreign entities, we translate their financial statements into U.S. dollars using average exchange rates for the period for income statement amounts and using end-of-period exchange rates for assets and liabilities. We record these translation adjustments in Accumulated other comprehensive loss, a separate component of Equity, in our consolidated balance sheets. We record exchange gains and losses resulting from the conversion of transaction currency to functional currency as a component of Other income (expense), net.
Employee Benefit Plans	Employee Benefit Plans Pension and postretirement health care and life insurance benefits earned during the year, as well as interest on projected benefit obligations, are accrued. Prior service costs and credits resulting from changes in plan benefits are generally amortized over the average remaining service period of the employees expected to receive benefits. Expected return on plan assets is determined by applying the return on assets assumption to the actual fair value of plan assets. Actuarial gains and losses are recognized in Other income (expense), net in the year in which they occur. These gains and losses are measured annually as of December 31 and upon a remeasurement event. Verizon management employees no longer earn pension benefits or earn service towards the Company retiree medical subsidy. See Note 11 for additional information. We recognize a pension or a postretirement plan’s funded status as either an asset or liability in the consolidated balance sheets. Also, we measure any unrecognized prior service costs and credits that arise during the period as a component of Accumulated other comprehensive income (loss), net of applicable income tax.
Derivative Instruments	Derivative Instruments We enter into derivative transactions primarily to manage our exposure to fluctuations in foreign currency exchange rates and interest rates. We employ risk management strategies, which may include the use of a variety of derivatives including cross currency swaps, forward starting interest rate swaps, interest rate swaps, treasury rate locks, interest rate caps, swaptions and foreign exchange forwards. We do not hold derivatives for trading purposes. We measure all derivatives at fair value and recognize them as either assets or liabilities in our consolidated balance sheets. Our derivative instruments are valued primarily using models based on readily observable market parameters for all substantial terms of our derivative contracts and thus are classified as Level 2. Changes in the fair values of derivative instruments applied as economic hedges are recognized in earnings in the current period. For fair value hedges, the change in the fair value of the derivative instruments is recognized in earnings, along with the change in the fair value of the hedged item. Unrealized gains or losses on excluded components of fair value hedges are recorded in Other comprehensive income (loss) and are recognized into earnings on a systematic and rational basis through the swap accrual over the life of the hedged item. For cash flow hedges, the change in the fair value of the derivative instruments is reported in Other comprehensive income (loss) and recognized in earnings when the hedged item is recognized in earnings. For net investment hedges of certain of our foreign operations, the change in the fair value of the hedging instruments is reported in Other comprehensive income (loss) as part of the cumulative translation adjustment and partially offsets the impact of foreign currency changes on the value of our net investment.
Variable Interest Entities	Variable Interest Entities VIEs are entities that lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties, have equity investors that do not have the ability to make significant decisions relating to the entity’s operations through voting rights, do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity. We consolidate the assets and liabilities of VIEs when we are deemed to be the primary beneficiary. The primary beneficiary is the party that has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards The following Accounting Standards Update (ASU) was issued by the Financial Accounting Standards Board (FASB), and has been early adopted by Verizon. Description Effect on Financial Statements ASU 2023-09, Income Taxes (Topic 740) In December 2023, the FASB issued this standard update which requires enhanced disclosures primarily related to rate reconciliation and income taxes paid information. The standard is effective for annual periods beginning after December 15, 2024. A prospective transition approach should be applied; however, a retrospective application is permitted. Early adoption of this standard is permitted. Verizon has elected to early adopt this Topic effective December 31, 2024 using a retrospective approach and included the required disclosures in our notes to the financial statements for our income taxes. This standard update did not affect our operating results.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	Cash, cash equivalents and restricted cash are included in the following line items in the consolidated balance sheets: (dollars in millions) At December 31, 2024 2023 Increase / (Decrease) Cash and cash equivalents $ 4,194 $ 2,065 $ 2,129 Restricted cash: Prepaid expenses and other 319 1,244 (925) Other assets 122 188 (66) Cash, cash equivalents and restricted cash $ 4,635 $ 3,497 $ 1,138
Schedule of Restricted Cash	Cash, cash equivalents and restricted cash are included in the following line items in the consolidated balance sheets: (dollars in millions) At December 31, 2024 2023 Increase / (Decrease) Cash and cash equivalents $ 4,194 $ 2,065 $ 2,129 Restricted cash: Prepaid expenses and other 319 1,244 (925) Other assets 122 188 (66) Cash, cash equivalents and restricted cash $ 4,635 $ 3,497 $ 1,138
Accounting Standards Update and Change in Accounting Principle	The following Accounting Standards Update (ASU) was issued by the Financial Accounting Standards Board (FASB), and has been early adopted by Verizon. Description Effect on Financial Statements ASU 2023-09, Income Taxes (Topic 740) In December 2023, the FASB issued this standard update which requires enhanced disclosures primarily related to rate reconciliation and income taxes paid information. The standard is effective for annual periods beginning after December 15, 2024. A prospective transition approach should be applied; however, a retrospective application is permitted. Early adoption of this standard is permitted. Verizon has elected to early adopt this Topic effective December 31, 2024 using a retrospective approach and included the required disclosures in our notes to the financial statements for our income taxes. This standard update did not affect our operating results.

Revenue and Contract Costs (Tab

Revenue and Contract Costs (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table presents information about receivables from contracts with customers: At December 31, At December 31, (dollars in millions) 2024 2023 Accounts Receivable (1) $ 9,225 $ 9,760 Device payment plan agreement receivables (2) 19,766 18,528 (1) Balances do not include receivables related to the following: activity associated with certain vendor agreements, leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and device payment plan agreement receivables presented separately. (2) Included in device payment plan agreement receivables presented in Note 8. Receivables derived from the sale of equipment on a device payment plan through an authorized agent are excluded. The balance of contract assets and contract liabilities recorded in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2024 2023 Assets Prepaid expenses and other $ 621 $ 546 Other assets 321 268 Total Contract Assets $ 942 $ 814 Liabilities Other current liabilities $ 7,492 $ 6,955 Other liabilities 2,186 1,947 Total Contract Liabilities $ 9,678 $ 8,902
Capitalized Contract Cost	The balances of deferred contract costs included in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2024 2023 Assets Prepaid expenses and other $ 2,932 $ 2,756 Other assets 2,808 2,639 Total $ 5,740 $ 5,395

Wireless Licenses, Goodwill a_2

Wireless Licenses, Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Wireless Licenses	The carrying amounts of Wireless licenses are as follows: (dollars in millions) At December 31, 2024 2023 Wireless licenses $ 156,613 $ 155,667
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, 2023 (1) $ 21,142 $ 7,502 $ 27 $ 28,671 Acquisitions 35 — — 35 Verizon Business Group goodwill impairment — (5,841) — (5,841) Reclassifications, adjustments and other (2) — 5 (27) (22) Balance at December 31, 2023 (3) 21,177 1,666 — 22,843 Reclassifications, adjustments and other — (2) — (2) Balance at December 31, 2024 (3) $ 21,177 $ 1,664 $ — $ 22,841 (1) Goodwill balances are net of an accumulated impairment charge of $16 million presented within both Other and Total. (2) Includes a goodwill impairment charge of $27 million related to non-strategic businesses presented within Other, recorded in Selling, general and administrative expense in our consolidated statement of income for the year ended December 31, 2023. (3) Goodwill balances are net of accumulated impairment charges of $5.8 billion, $43 million and $5.9 billion presented within Business, Other and Total, respectively.
Composition of Other Intangible Assets, Net	The following table displays the composition of Other intangible assets, net as well as the respective amortization period: (dollars in millions) 2024 2023 At December 31, Gross Accumulated Net Gross Amount Accumulated Net Customer lists (5 to 13 years) $ 4,242 $ (2,629) $ 1,613 $ 4,335 $ (2,193) $ 2,142 Non-network internal-use software (3 to 7 years) 28,136 (19,743) 8,393 25,524 (17,949) 7,575 Other (4 to 25 years) 2,664 (1,541) 1,123 2,656 (1,316) 1,340 Total $ 35,042 $ (23,913) $ 11,129 $ 32,515 $ (21,458) $ 11,057
Amortization Expense for Other Intangible Assets	The amortization expense for Other intangible assets was as follows: Years (dollars in millions) 2024 $ 2,781 2023 2,687 2022 2,507
Estimated Future Amortization Expense for Other Intangible Assets	Estimated annual amortization expense for Other intangible assets is as follows: Years (dollars in millions) 2025 $ 2,825 2026 2,571 2027 2,025 2028 1,549 2029 887

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Summary of Plant, Property and Equipment	The following table displays the details of Property, plant and equipment, which is stated at cost: (dollars in millions) At December 31, Lives (years) 2024 2023 Land - $ 740 $ 751 Buildings and equipment 7 to 45 39,130 36,940 Central office and other network equipment 3 to 15 176,680 170,161 Antennas, cable, conduit, poles and towers 4 to 50 82,810 78,355 Leasehold improvements 5 to 20 10,562 10,355 Work in progress - 9,424 12,092 Furniture, vehicles and other 3 to 20 12,060 11,454 331,406 320,108 Less accumulated depreciation 222,884 211,798 Property, plant and equipment, net $ 108,522 $ 108,310

Leasing Arrangements (Tables)

Leasing Arrangements (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Components of Net Lease Cost, and Supplemental Disclosure for Statement of Cash Flows related to Operating and Finance Leases	The components of net lease cost were as follows: (dollars in millions) Years Ended December 31, Classification 2024 2023 2022 Operating lease cost (1) Cost of services $ 5,607 $ 5,432 $ 5,345 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 329 259 224 Interest on lease liabilities Interest expense 98 69 36 Short-term lease cost (1) Cost of services 21 29 23 Variable lease cost (1) Cost of services 310 313 294 Sublease income Service revenues and other (216) (210) (199) Total net lease cost $ 6,149 $ 5,892 $ 5,723 (1) All operating lease costs, including short-term and variable lease costs, are split between Cost of services and Selling, general and administrative expense in the consolidated statements of income based on the use of the facility or equipment that the rent is being paid on. See Note 1 for additional information. Variable lease costs represent payments that are dependent on a rate or index, or on usage of the asset. Supplemental disclosure for the statements of cash flows related to operating and finance leases were as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Cash Flows from Operating Activities Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ (5,067) $ (4,929) $ (4,490) Operating cash flows for finance leases (98) (69) (36) Cash Flows from Financing Activities Financing cash flows for finance leases (794) (612) (449) Supplemental lease cash flow disclosures Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 4,385 2,634 2,392 Right-of-use assets obtained in exchange for new finance lease liabilities 1,051 968 832
Supplemental Disclosure for Balance Sheet related to Finance Leases	Supplemental disclosures for the balance sheet related to finance leases were as follows: (dollars in millions) At December 31, 2024 2023 Assets Property, plant and equipment, net $ 1,692 $ 1,459 Liabilities Debt maturing within one year $ 894 $ 753 Long-term debt 1,455 1,338 Total Finance lease liabilities $ 2,349 $ 2,091
Schedule of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate related to Leases	The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows: At December 31, 2024 2023 Weighted-average remaining lease term (years) Operating leases 8 8 Finance leases 3 3 Weighted-average discount rate Operating leases 4.1 % 3.6 % Finance leases 4.8 % 2.9 %
Lessee, Operating Lease, Liability, Maturity	The following table presents the maturity analysis of operating and finance lease liabilities as of December 31, 2024: (dollars in millions) Years Operating Leases Finance Leases 2025 $ 5,013 $ 954 2026 4,685 714 2027 4,392 457 2028 3,004 248 2029 2,505 116 Thereafter 9,451 53 Total lease payments 29,050 2,542 Less interest 4,707 193 Present value of lease liabilities 24,343 2,349 Less current obligation 4,415 894 Long-term obligation at December 31, 2024 $ 19,928 $ 1,455
Finance Lease, Liability, Maturity	The following table presents the maturity analysis of operating and finance lease liabilities as of December 31, 2024: (dollars in millions) Years Operating Leases Finance Leases 2025 $ 5,013 $ 954 2026 4,685 714 2027 4,392 457 2028 3,004 248 2029 2,505 116 Thereafter 9,451 53 Total lease payments 29,050 2,542 Less interest 4,707 193 Present value of lease liabilities 24,343 2,349 Less current obligation 4,415 894 Long-term obligation at December 31, 2024 $ 19,928 $ 1,455

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Outstanding Long-term Debt Obligations	Outstanding long-term debt obligations as of December 31, 2024 and 2023 are as follows: (dollars in millions) At December 31, Maturities Interest 2024 2023 Verizon Communications < 5 Years 0.75 - 6.94 $ 29,325 $ 33,316 5-10 Years 1.50 - 7.88 33,851 37,229 > 10 Years 1.13 - 8.95 52,719 55,355 < 5 Years Floating (1) 1,171 2,099 5-10 Years Floating (1) 1,735 2,029 Alltel Corporation < 5 Years 6.80 38 N/A 5-10 Years 6.80 - 7.88 56 94 Operating telephone company subsidiaries – debentures < 5 Years 6.00 - 8.38 286 79 5-10 Years 5.13 - 8.75 328 535 Other subsidiaries – asset-backed debt < 5 Years 0.50 - 6.09 16,363 14,048 < 5 Years Floating (1) 9,805 8,163 Finance lease obligations (average rate of 4.8% and 2.9% in 2024 and 2023, respectively) (2) 2,349 2,091 Vendor financing arrangements (2) 85 64 Unamortized discount, net of premium (3,604) (3,812) Unamortized debt issuance costs (558) (616) Total long-term debt, including current maturities 143,949 150,674 Less long-term debt maturing within one year 22,568 12,973 Total long-term debt $ 121,381 $ 137,701 Long-term debt maturing within one year $ 22,568 $ 12,973 Add short-term vendor financing arrangements (2) 65 — Debt maturing within one year $ 22,633 $ 12,973 Add long-term debt 121,381 137,701 Total debt $ 144,014 $ 150,674 N/A - not applicable (1) For the period ending December 2024, the debt obligations bore interest at floating rates, including floating rates associated with the Secured Overnight Financing Rate (SOFR) for the interest period plus an applicable interest margin per annum. Floating rates associated with SOFR for the interest payments made in December 2024 ranged from 4.598% to 5.556%. (2) Finance lease and vendor financing obligations are part of alternative financing arrangements.
Maturities of Long-term Debt excluding Unamortized Debt Issuance Costs	Maturities of long-term debt (secured and unsecured) outstanding, including current maturities, excluding finance lease obligations and unamortized debt issuance costs, at December 31, 2024 are as follows: Years (dollars in millions) 2025 $ 21,709 2026 7,823 2027 9,158 2028 11,592 2029 8,673 Thereafter 83,203
Schedule of Debt Transactions	The following tables show the significant transactions involving the senior unsecured debt securities of the Company and its subsidiaries that occurred during the year ended December 31, 2024. Exchange Offers (dollars in millions) Principal Amount Exchanged Principal Amount Issued Verizon 0.850% - 4.329% notes and floating rate notes, due 2025 - 2028 $ 2,256 $ — Verizon 4.780% notes due 2035 (1) — 2,191 Total (2) $ 2,256 $ 2,191 (1) The principal amount issued in exchange does not include either an insignificant amount of cash paid in lieu of the issuance of fractional new notes or accrued and unpaid interest paid on the old notes accepted for exchange to the date of exchange. (2) The debt exchange offers above meet the criteria to be accounted for as a modification of debt. As a result, the excess of the principal amount of notes exchanged over the principal amount of new notes issued of $65 million was recorded as a premium to Long-term debt in the consolidated balance sheets. Tender Offers (dollars in millions) Principal Amount Purchased Cash Consideration (1) Verizon 0.875% - 3.250% notes due 2025 - 2028 € 1,981 $ 2,237 Verizon 0.850% - 3.376% notes and floating rate notes, due 2025 - 2026 $ 3,314 3,267 Total $ 5,504 (1) The total cash consideration includes the tender offer consideration, plus any accrued and unpaid interest to the date of purchase. In addition, for securities denominated in a currency other than the U.S. dollar, cash consideration is shown on a U.S. dollar equivalent basis and includes the amount payable per the derivatives entered into in connection with the transaction. See Note 9 for additional information on cross currency swap transactions related to the transaction. Repayments and Repurchases (dollars in millions) Principal Repaid/ Repurchased Amount Paid (1) Verizon 1.625% notes due 2024 € 685 $ 840 Verizon 4.073% notes due 2024 £ 413 582 Verizon 0.750% notes due 2024 $ 999 1,003 Verizon floating rate notes due 2024 95 96 Verizon 3.500% notes due 2024 1,161 1,182 Open market repurchases of various Verizon notes (2) 1,255 985 Total $ 4,688 (1) Represents amount paid to repay or repurchase, including any accrued interest. In addition, for securities denominated in a currency other than the U.S. dollar, amount paid is shown on a U.S. dollar equivalent basis and includes the amount payable per the derivatives entered into in connection with the transaction. See Note 9 for additional information on cross currency swap transactions related to the transaction. (2) During 2024, we recorded gains of $267 million in connection with the open market repurchases, which were reflected within Other income (expense), net in our consolidated statement of income. Issuances (dollars in millions) Principal Amount Issued Net Proceeds (1) Verizon 3.500% notes due 2032 € 1,000 $ 1,062 Verizon 3.750% notes due 2036 € 1,000 1,061 Verizon 5.500% notes due 2054 (2) $ 1,000 980 Total $ 3,103 (1) Net proceeds were net of underwriting discounts and other issuance costs. In addition, for securities denominated in a currency other than the U.S. dollar, net proceeds are shown on a U.S. dollar equivalent basis. See Note 9 for additional information on cross currency swap transactions related to the issuances. (2) An amount equal to the net proceeds from these notes 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 May 1, 2023 through the maturity date of the notes. During the year ended December 31, 2024, we completed the following ABS Notes transactions: (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued January 2024 Series 2024-1 A-1a Senior class notes 5.000 1.92 $ 835 A-1b Senior class notes Compounded SOFR + 0.650 1.92 279 B Junior class notes 5.240 1.92 — C Junior class notes 5.490 1.92 51 Series 2024-2 A Senior class notes 4.830 4.92 668 B Junior class notes 5.080 4.92 51 C Junior class notes 5.320 4.92 31 January 2024 total 1,915 April 2024 Series 2024-3 A-1a Senior class notes 5.340 2.99 605 A-1b Senior class notes Compounded SOFR + 0.580 2.99 175 B Junior class notes 5.540 2.99 59 C Junior class notes 5.730 2.99 36 April 2024 total 875 June 2024 Series 2024-4 A-1a Senior class notes 5.210 1.98 289 A-1b Senior class notes Compounded SOFR + 0.550 1.98 246 B Junior class notes 5.400 1.98 41 C Junior class notes 5.600 1.98 25 Series 2024-5 A Senior class notes 5.000 4.98 512 B Junior class notes 5.250 4.98 39 C Junior class notes 5.490 4.98 24 June 2024 total 1,176 September 2024 Series 2024-6 A-1a Senior class notes 4.170 2.92 1,069 A-1b Senior class notes Compounded SOFR + 0.670 2.92 267 B Junior class notes 4.420 2.92 — C Junior class notes 4.670 2.92 61 Series 2024-7 A Senior class notes 4.350 4.92 535 B Junior class notes 4.600 4.92 — C Junior class notes 4.840 4.92 25 September 2024 total 1,957 (dollars in millions) Interest Rates % Expected Weighted-average Life to Maturity (in years) Principal Amount Issued November 2024 Series 2024-8 A-1a Senior class notes 4.620 2.98 $ 816 A-1b Senior class notes Compounded SOFR + 0.420 2.98 75 B Junior class notes 4.820 2.98 68 C Junior class notes 4.990 2.98 41 November 2024 total 1,000 Total $ 6,923
Schedule of Assets and Liabilities Related to Asset-backed Debt Arrangements	The assets and liabilities related to our asset-backed debt arrangements included in our consolidated balance sheets were as follows: At December 31, At December 31, (dollars in millions) 2024 2023 Assets Accounts receivable, net $ 18,339 $ 14,550 Prepaid expenses and other 322 1,288 Other assets 11,647 11,682 Liabilities Accounts payable and accrued liabilities 37 29 Debt maturing within one year 17,312 7,483 Long-term debt 8,827 14,700
Schedule of Line of Credit Facilities	Long-Term Credit Facilities At December 31, 2024 (dollars in millions) Maturities Facility Capacity Unused Capacity Principal Amount Outstanding Verizon revolving credit facility (1) 2028 $ 12,000 $ 11,963 $ — Various export credit facilities (2) 2025 - 2031 10,000 — 5,441 Total $ 22,000 $ 11,963 $ 5,441 (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. As of December 31, 2024, there have been no drawings against the revolving credit facility since its inception. (2) During 2024, there were no drawings from these facilities. During 2023, we drew down $1.0 billion from these facilities. Borrowings under certain of these facilities are amortized 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 Agreement_2

Device Payment Plan Agreement and Wireless Service Receivables (Tables)	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Device Payment Plan Receivables, Net	The following table presents information about accounts receivable, net of allowances, recorded in our consolidated balance sheet: At December 31, 2024 (dollars in millions) Device payment plan agreement Wireless Other receivables (1) Total Accounts receivable $ 15,839 $ 5,809 $ 5,613 $ 27,261 Less Allowance for credit losses 698 240 214 1,152 Accounts receivable, net of allowance $ 15,141 $ 5,569 $ 5,399 $ 26,109 (1) Other receivables primarily include wireline and other receivables, of which the allowances are individually insignificant. The following table displays both the current and non-current portions of device payment plan agreement receivables, net, recognized in our consolidated balance sheets: (dollars in millions) At December 31, 2024 2023 Device payment plan agreement receivables, gross $ 31,308 $ 29,206 Unamortized imputed interest (975) (758) Device payment plan agreement receivables, at amortized cost 30,333 28,448 Allowance (1) (1,315) (1,151) Device payment plan agreement receivables, net $ 29,018 $ 27,297 Classified in our consolidated balance sheets: Accounts receivable, net $ 15,141 $ 13,173 Other assets 13,877 14,124 Device payment plan agreement receivables, net $ 29,018 $ 27,297 (1)
Financing Receivable Credit Quality Indicators	The following table presents device payment plan agreement receivables, at amortized cost, and gross write-offs recorded, as of and for the twelve months ended December 31, 2024, by credit quality indicator and year of origination: Year of Origination (1) (dollars in millions) 2024 2023 2022 and prior Total Device payment plan agreement receivables, at amortized cost New customers $ 3,277 $ 1,542 $ 397 $ 5,216 Existing customers 14,136 8,075 2,906 25,117 Total $ 17,413 $ 9,617 $ 3,303 $ 30,333 Gross write-offs New customers $ 376 $ 563 $ 111 $ 1,050 Existing customers 52 201 155 408 Total $ 428 $ 764 $ 266 $ 1,458 (1) Includes accounts that have been suspended at a point in time. The data presented in the table above was last updated on December 31, 2024. We assess indicators for the quality of our wireless service receivables portfolio as one overall pool. The following table presents wireless service receivables, at amortized cost, and gross write-offs recorded, as of and for the twelve months ended December 31, 2024, by year of origination: Year of Origination (dollars in millions) 2024 2023 and prior Total Wireless service receivables, at amortized cost $ 5,760 $ 49 $ 5,809 Gross write-offs 374 183 557 The data presented in the table above was last updated on December 31, 2024.
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, 2024 $ 1,151 $ 213 Current period provision for expected credit losses 1,585 538 Write-offs charged against the allowance (1,458) (557) Recoveries collected 37 46 Balance at December 31, 2024 $ 1,315 $ 240 (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: (dollars in millions) At December 31, 2024 Unbilled $ 28,916 Billed: Current 1,116 Past due 301 Device payment plan agreement receivables, at amortized cost $ 30,333

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2024: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Prepaid expenses and other: Fixed income securities $ — $ 16 $ — $ 16 Interest rate caps — 3 — 3 Other assets: Fixed income securities — 269 — 269 Cross currency swaps — 500 — 500 Total $ — $ 788 $ — $ 788 Liabilities: Other current liabilities: Interest rate swaps $ — $ 1,964 $ — $ 1,964 Cross currency swaps — 345 — 345 Foreign exchange forwards — 5 — 5 Interest rate caps — 3 — 3 Other liabilities: Interest rate swaps — 3,338 — 3,338 Cross currency swaps — 2,344 — 2,344 Total $ — $ 7,999 $ — $ 7,999 (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, 2023: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Prepaid expenses and other: Fixed income securities $ — $ 25 $ — $ 25 Cross currency swaps — 4 — 4 Foreign exchange forwards — 4 — 4 Interest rate caps — 37 — 37 Other assets: Fixed income securities — 254 — 254 Cross currency swaps — 758 — 758 Interest rate caps — 7 — 7 Total $ — $ 1,089 $ — $ 1,089 Liabilities: Other current liabilities: Interest rate swaps $ — $ 823 $ — $ 823 Cross currency swaps — 294 — 294 Foreign exchange forwards — 1 — 1 Interest rate caps — 37 — 37 Contingent consideration — — 52 52 Other liabilities: Interest rate swaps — 3,648 — 3,648 Cross currency swaps — 1,791 — 1,791 Interest rate caps — 7 — 7 Total $ — $ 6,601 $ 52 $ 6,653 (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, 2024 $ 141,665 $ 81,552 $ 55,464 $ — $ 137,016 At December 31, 2023 148,583 86,806 58,804 — 145,610
Notional Amounts of Outstanding Derivative Instruments	The following table sets forth the notional amounts of our outstanding derivative instruments: (dollars in millions) At December 31, 2024 2023 Interest rate swaps $ 24,025 $ 26,071 Cross currency swaps 32,053 33,526 Foreign exchange forwards 620 1,050
Schedule Of Derivative Instruments Activity	The following tables summarize the activities of our designated derivatives: (dollars in millions) Years Ended December 31, 2024 2023 Interest Rate Swaps: Notional value entered into $ — $ — Notional value settled 2,046 — Pre-tax gain recognized in Interest expense 4 1 Cross Currency Swaps: Notional value entered into 2,146 — Notional value settled 3,619 1,450 Pre-tax gain (loss) on cross currency swaps recognized in Interest expense (1,839) 1,119 Pre-tax gain (loss) on hedged debt recognized in Interest expense 1,839 (1,119) Excluded components recognized in Other comprehensive income (loss) 730 826 Initial value of the excluded component amortized into Interest expense 96 109 Treasury Rate Locks: Notional value entered into 1,000 500 Notional value settled 1,000 500 Pre-tax gain (loss) recognized in Other comprehensive income (loss) (21) 5 (dollars in millions) Years Ended December 31, 2024 2023 Other, net Cash Flows from Operating Activities: Cash paid for settlement of interest rate swaps $ (57) $ — Cash received (paid) for settlement of treasury rate locks (21) 5 Other, net Cash Flows from Financing Activities: Cash paid for settlement of cross currency swaps, net (243) (67) The following table summarizes the activity of our derivatives not designated in hedging relationships: (dollars in millions) Years Ended December 31, 2024 2023 Foreign Exchange Forwards: Notional value entered into $ 8,640 $ 11,175 Notional value settled 9,070 11,045 Pre-tax gain (loss) recognized in Other income (expense), net (50) 25
Schedule of Cumulative Basis Adjustments for Fair Value Hedges	The following table displays the amounts recorded in Long-term debt in our consolidated balance sheets related to cumulative basis adjustments for our interest rate swaps designated as fair value hedges. The cumulative amounts exclude cumulative basis adjustments related to foreign exchange risk. (dollars in millions) At December 31, 2024 2023 Carrying amount of hedged liabilities $ 18,863 $ 21,838 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (5,192) (4,354) Cumulative amount of fair value hedging adjustment remaining for which hedge accounting has been discontinued 281 400

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted and Performance Stock Unit Activity	The following table summarizes Verizon’s Restricted Stock Unit and Performance Stock Unit activity: Restricted Stock Units Performance Stock Units (shares in thousands) Equity Awards Liability Awards Equity Awards Liability Awards Outstanding January 1, 2022 6,779 17,290 8,640 4,465 Granted 4,149 11,309 5,752 197 Payments (3,313) (6,363) — (2,075) Cancelled/Forfeited (362) (1,627) (567) (2,171) Outstanding December 31, 2022 7,253 20,609 13,825 416 Granted 13,047 17,441 2,537 12 Payments (3,612) (12,198) (3,495) (121) Cancelled/Forfeited (836) (2,366) (693) (31) Outstanding December 31, 2023 15,852 23,486 12,174 276 Granted 11,118 16,172 (12) (46) Payments (6,439) (12,393) (2,175) (71) Cancelled/Forfeited (533) (1,379) (181) (1) Outstanding December 31, 2024 19,998 25,886 9,806 158

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Change In Benefit Obligations, Change In Plan Assets, Funded Status, Amounts Recognized on Balance Sheet, and Amounts Recognized In Accumulated Other Comprehensive Income (Pretax)	The following tables summarize benefit costs, as well as the benefit obligations, plan assets, funded status and rate assumptions associated with pension and postretirement health care and life insurance benefit plans. Obligations and Funded Status (dollars in millions) Pension Health Care and Life At December 31, 2024 2023 2024 2023 Change in Benefit Obligations Beginning of year $ 15,133 $ 15,369 $ 11,455 $ 11,107 Service cost 185 208 52 54 Interest cost 479 752 543 545 Plan amendments — — — (26) Actuarial (gain) loss, net (1,130) 5 (533) 757 Benefits paid (419) (1,008) (978) (982) Curtailment and termination benefits 6 5 — — Settlements paid (725) (198) — — Annuity contracts transfer (5,611) — — — End of year 7,918 15,133 10,539 11,455 Change in Plan Assets Beginning of year 13,536 13,739 466 450 Actual return on plan assets (400) 751 43 62 Company contributions 421 252 935 936 Benefits paid (419) (1,008) (978) (982) Settlements paid (725) (198) — — Annuity contracts transfer (5,611) — — — End of year 6,802 13,536 466 466 Funded Status - End of year $ (1,116) $ (1,597) $ (10,073) $ (10,989) (dollars in millions) Pension Health Care and Life At December 31, 2024 2023 2024 2023 Amounts recognized in the balance sheets Current liabilities $ (38) $ (42) $ (643) $ (685) Non-current liabilities (1,078) (1,555) (9,430) (10,304) Total $ (1,116) $ (1,597) $ (10,073) $ (10,989) Amounts recognized in Accumulated other comprehensive loss (pre-tax) Prior service cost (benefit) $ 523 $ 635 $ (833) $ (962) Total $ 523 $ 635 $ (833) $ (962)
Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets	Information for pension plans with an accumulated benefit obligation in excess of plan assets follows: (dollars in millions) At December 31, 2024 2023 Accumulated benefit obligation $ 7,881 $ 15,086 Fair value of plan assets 6,802 13,534
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets	Information for pension plans with a projected benefit obligation in excess of plan assets follows: (dollars in millions) At December 31, 2024 2023 Projected benefit obligation $ 7,918 $ 15,133 Fair value of plan assets 6,802 13,536
Benefit or (Income) Cost Related to Pension and Postretirement Health Care and Life Insurance	The following table summarizes the components of net periodic benefit cost (income) related to our pension and postretirement health care and life insurance plans: (dollars in millions) Pension Health Care and Life Years Ended December 31, 2024 2023 2022 2024 2023 2022 Service cost - Cost of services $ 159 $ 182 $ 216 $ 44 $ 46 $ 79 Service cost - Selling, general and administrative expense 26 26 30 8 8 15 Service cost 185 208 246 52 54 94 Amortization of prior service cost (credit) 112 112 82 (129) (419) (530) Expected return on plan assets (620) (1,013) (1,119) (28) (31) (27) Interest cost 479 752 544 543 545 332 Remeasurement loss (gain), net (110) 266 1,505 (547) 726 (3,182) Curtailment and termination benefits — — 2 — — — Other components (139) 117 1,014 (161) 821 (3,407) Total $ 46 $ 325 $ 1,260 $ (109) $ 875 $ (3,313)
Other Pretax Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Income) Loss	Other pre-tax changes in plan assets and benefit obligations recognized in Other comprehensive (income) loss are as follows: (dollars in millions) Pension Health Care and Life At December 31, 2024 2023 2022 2024 2023 2022 Reversal of amortization items Prior service cost (benefit) $ (112) $ (112) $ (82) $ 129 $ 419 $ 530 Total recognized in Other comprehensive loss (income) (pre-tax) $ (112) $ (112) $ (82) $ 129 $ 419 $ 530
Weighted Average Assumptions Used in Determining Benefit Obligations and Net Periodic Cost	The weighted-average assumptions used in determining benefit obligations follow: Pension Health Care and Life At December 31, 2024 2023 2024 2023 Discount Rate 5.80 % 5.00 % 5.60 % 5.00 % Rate of compensation increases 3.00 % 3.00 % N/A N/A N/A - not applicable The weighted-average assumptions used in determining net periodic cost follow: Pension Health Care and Life At December 31, 2024 2023 2022 2024 2023 2022 Discount rate in effect for determining service cost 5.40 % 5.30 % 3.80 % 5.10 % 5.30 % 3.20 % Discount rate in effect for determining interest cost 5.20 5.10 3.20 4.90 5.10 2.30 Expected return on plan assets 7.90 7.70 6.70 6.30 7.30 4.90 Rate of compensation increases 3.00 3.00 3.00 N/A N/A N/A N/A - not applicable
Health Care Cost Trend Rates	The assumed health care cost trend rates are as follows: Health Care and Life At December 31, 2024 2023 2022 Weighted-average healthcare cost trend rate assumed for next year 8.80 % 7.30 % 6.60 % Rate to which cost trend rate gradually declines 4.50 4.50 4.50 Year the rate reaches the level it is assumed to remain thereafter 2034 2032 2031
Fair Values for Plans by Asset Category	The fair values for the pension plans by asset category at December 31, 2024 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 542 $ 530 $ 12 $ — Equity securities 12 12 — — Fixed income securities U.S. Treasuries and agencies 720 527 193 — Corporate bonds 1,129 627 502 — International bonds 113 — 113 — Other 82 (87) 169 — Real estate 934 — — 934 Other Private equity 564 — — 564 Hedge funds 50 — 27 23 Total investments at fair value 4,146 1,609 1,016 1,521 Investments measured at NAV 2,656 Total $ 6,802 $ 1,609 $ 1,016 $ 1,521 The fair values for the pension plans by asset category at December 31, 2023 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,956 $ 1,771 $ 185 $ — Equity securities 69 55 14 — Fixed income securities U.S. Treasuries and agencies 1,412 1,274 138 — Corporate bonds 2,994 204 2,790 — International bonds 341 3 338 — Other 768 234 534 — Real estate 996 — — 996 Other Private equity 512 — — 512 Hedge funds 56 — 30 26 Total investments at fair value 9,104 3,541 4,029 1,534 Investments measured at NAV 4,432 Total $ 13,536 $ 3,541 $ 4,029 $ 1,534 Health Care and Life Plans The fair values for the other postretirement benefit plans by asset category at December 31, 2024 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 21 $ — $ 21 $ — Equity securities 223 223 — — Fixed income securities U.S. Treasuries and agencies 149 135 14 — Corporate bonds 45 32 13 — International bonds 15 11 4 — Other 10 — 10 — Total investments at fair value 463 401 62 — Investments measured at NAV 3 Total $ 466 $ 401 $ 62 $ — The fair values for the other postretirement benefit plans by asset category at December 31, 2023 are as follows: (dollars in millions) Asset Category Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 27 $ — $ 27 $ — Equity securities 229 229 — — Fixed income securities U.S. Treasuries and agencies 138 118 20 — Corporate bonds 41 29 12 — International bonds 12 10 2 — Other 14 — 14 — Total investments at fair value 461 386 75 — Investments measured at NAV 5 Total $ 466 $ 386 $ 75 $ —
Reconciliation of Beginning and Ending Balance of Plan Assets Measured at Fair Value	The following is a reconciliation of the beginning and ending balance of pension plan assets that are measured at fair value using significant unobservable inputs: (dollars in millions) Real Private Hedge Total Balance at January 1, 2023 $ 1,002 $ 569 $ 52 $ 1,623 Actual gain (loss) on plan assets (54) 14 4 (36) Purchases (sales) 48 (67) (1) (20) Transfers out — (4) (29) (33) Balance at December 31, 2023 996 512 26 1,534 Actual gain (loss) on plan assets (69) 55 1 (13) Purchases (sales) 12 (1) (1) 10 Transfers out (5) (2) (3) (10) Balance at December 31, 2024 $ 934 $ 564 $ 23 $ 1,521
Expected Benefit Payments to Retirees	The benefit payments to retirees are expected to be paid as follows: (dollars in millions) Year Pension Benefits Health Care and Life 2025 $ 1,024 $ 754 2026 770 795 2027 357 810 2028 384 829 2029 412 836 2030 to 2034 2,448 4,364
Schedule of Recorded Severance Liability	The following table provides an analysis of our severance liability: (dollars in millions) Year Beginning of Year Charged to Payments End of Year 2022 $ 548 $ 319 $ (214) $ 653 2023 653 531 (617) 567 2024 567 1,494 (966) 1,095

Taxes (Tables)

Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Components of Income before Provision for Income Taxes	The components of income before provision for income taxes are as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Domestic $ 21,253 $ 15,668 $ 26,822 Foreign 1,726 1,319 1,449 Total $ 22,979 $ 16,987 $ 28,271
Components of Provision for Income Taxes	The components of the provision for income taxes are as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Current Federal $ 3,367 $ 2,070 $ 2,411 Foreign 240 219 201 State and local 608 215 938 Total 4,215 2,504 3,550 Deferred Federal 807 1,799 2,529 Foreign (4) 28 (22) State and local 12 561 466 Total 815 2,388 2,973 Total income tax provision $ 5,030 $ 4,892 $ 6,523
Schedule for Principal Reasons for Difference in Effective and Statutory Tax Rates	The following table shows the principal reasons for the difference between the effective income tax rate and the statutory federal income tax rate: (dollars in millions) 2024 2023 2022 Years Ended December 31, Amount Percent Amount Percent Amount Percent U.S. federal statutory tax rate $ 4,825 21.0 % $ 3,567 21.0 % $ 5,937 21.0 % State and local income taxes, net of federal income tax effect (1) 566 2.5 664 3.9 1,104 3.9 Foreign tax effects (68) (0.3) (16) (0.1) (120) (0.4) Effect of cross-border tax laws — — 18 0.1 15 0.1 Tax credits (27) (0.1) (27) (0.2) (30) (0.1) Changes in valuation allowances 15 0.1 — — 11 — Nontaxable or nondeductible items Goodwill impairment — — 1,149 6.8 — — Other (116) (0.5) (133) (0.8) (145) (0.5) Changes in unrecognized tax benefits 40 0.2 (27) (0.2) (118) (0.4) Other adjustments Federal refund claims (17) (0.1) (245) (1.4) — — Other (188) (0.9) (58) (0.3) (131) (0.5) Effective income tax rate $ 5,030 21.9 % $ 4,892 28.8 % $ 6,523 23.1 % (1) The states that contribute to the majority (greater than 50%) of the tax effect in this category include California, Maryland and Pennsylvania for 2024, California, Georgia, Illinois, Maryland and Virginia for 2023, and California, Florida, Georgia, Illinois, New Jersey, Oregon and Pennsylvania for 2022.
Schedule of Cash Taxes Paid	The amounts of cash taxes paid by Verizon are as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Federal $ 4,745 $ 1,447 $ 1,865 State 665 672 670 Foreign Ireland 156 143 147 All other foreign 66 81 54 Income taxes, net of amounts refunded 5,632 2,343 2,736 Employment taxes 992 1,016 1,245 Property and other taxes 1,836 2,007 1,959 Total $ 8,460 $ 5,366 $ 5,940
Schedule of Deferred Taxes	Deferred taxes arise because of differences in the book and tax bases of certain assets and liabilities. Significant components of deferred tax assets and liabilities are as follows: (dollars in millions) At December 31, 2024 2023 Deferred tax assets Employee benefits $ 3,676 $ 3,913 Tax loss, credit, and other carry forwards 1,719 1,922 Lease liabilities 5,138 5,480 Other - assets 1,735 1,708 12,268 13,023 Valuation allowances (1,399) (1,341) Deferred tax assets 10,869 11,682 Deferred tax liabilities Spectrum and other intangible amortization 29,302 28,535 Depreciation 20,424 20,884 Lease right-of-use assets 4,822 5,200 Other - liabilities 2,904 2,696 Deferred tax liabilities 57,452 57,315 Net deferred tax liability $ 46,583 $ 45,633
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows: (dollars in millions) 2024 2023 2022 Balance at January 1, $ 2,705 $ 2,812 $ 3,134 Additions based on tax positions related to the current year 91 114 123 Additions for tax positions of prior years 203 185 122 Reductions for tax positions of prior years (229) (154) (419) Settlements (70) (50) (92) Lapses of statutes of limitations (65) (202) (56) Balance at December 31, $ 2,635 $ 2,705 $ 2,812
Schedule of After Tax (Expenses) Benefits Related to Interest and Penalties in Provision for Income Taxes	We recognized the following net after-tax expenses (benefit) related to interest and penalties in the provision for income taxes: Years Ended December 31, (dollars in millions) 2024 $ 55 2023 86 2022 35
Schedule of After Tax Accrual for Payment of Interest and Penalties in Consolidated Balance Sheet	The after-tax accruals for the payment of interest and penalties in the consolidated balance sheets are as follows: At December 31, (dollars in millions) 2024 $ 684 2023 630

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Summary of Operating Financial Information for Reportable Segments	Our segments and their principal activities consist of the following: Segment Description Verizon Consumer Group Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the U.S. under the Verizon family of brands and through wholesale and other arrangements. We also provide FWA broadband through our 5G or 4G LTE networks as an alternative to traditional landline internet access. 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 FWA broadband, data, video and advanced communication services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various IoT services and products. We provide these products and services to businesses, public sector customers and wireless and wireline carriers across the U.S. and a subset of these products and services to customers around the world. The following tables provide operating financial information for our two reportable segments: (dollars in millions) 2024 Consumer Business Total External Operating Revenues Service $ 76,880 $ — $ 76,880 Wireless equipment 19,598 — 19,598 Other (1) 6,213 — 6,213 Enterprise and Public Sector — 14,218 14,218 Business Markets and Other — 13,081 13,081 Wholesale — 2,196 2,196 Intersegment revenues 213 36 249 Total Operating Revenues (2) 102,904 29,531 132,435 Operating Expenses (3) Cost of wireless equipment 21,259 4,841 26,100 Centrally managed network and shared service costs (4) 17,781 10,200 27,981 Depreciation and amortization expense 13,552 4,307 17,859 Other segment expenses (5) 20,828 8,125 28,953 Total Operating Expenses 73,420 27,473 100,893 Operating Income $ 29,484 $ 2,058 $ 31,542 (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 recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. (2) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $25.9 billion and $3.6 billion, respectively, for the year ended December 31, 2024. (3) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (4) Centrally managed network and shared service costs include costs for network and leased assets, supply chain and other centralized services that are allocated to our Consumer and Business segments based on proportionate usage of services. (5) Other segment expenses for each reportable segment include certain personnel, digital content, sales-related, overhead, other direct and operating costs. (dollars in millions) 2023 Consumer Business Total External Operating Revenues Service $ 74,874 $ — $ 74,874 Wireless equipment 20,645 — 20,645 Other (1) 5,898 — 5,898 Enterprise and Public Sector — 15,076 15,076 Business Markets and Other — 12,697 12,697 Wholesale — 2,313 2,313 Intersegment revenues 209 36 245 Total Operating Revenues (2) 101,626 30,122 131,748 Operating Expenses (3) Cost of wireless equipment 21,827 4,959 26,786 Centrally managed network and shared service costs (4) 17,496 10,590 28,086 Depreciation and amortization expense 13,077 4,488 17,565 Other segment expenses (5) 20,215 8,019 28,234 Total Operating Expenses 72,615 28,056 100,671 Operating Income $ 29,011 $ 2,066 $ 31,077 (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 recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. (2) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $26.4 billion and $3.7 billion, respectively, for the year ended December 31, 2023. (3) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (4) Centrally managed network and shared service costs include costs for network and leased assets, supply chain and other centralized services that are allocated to our Consumer and Business segments based on proportionate usage of services. (5) Other segment expenses for each reportable segment include certain personnel, digital content, sales-related, overhead, other direct and operating costs. (dollars in millions) 2022 Consumer Business Total External Operating Revenues Service $ 73,139 $ — $ 73,139 Wireless equipment 23,168 — 23,168 Other (1) 6,996 — 6,996 Enterprise and Public Sector — 15,692 15,692 Business Markets and Other — 12,753 12,753 Wholesale — 2,584 2,584 Intersegment revenues 203 43 246 Total Operating Revenues (2) 103,506 31,072 134,578 Operating Expenses (3) Cost of wireless equipment 25,134 5,362 30,496 Centrally managed network and shared service costs (4) 16,997 10,840 27,837 Depreciation and amortization expense 12,716 4,312 17,028 Other segment expenses (5) 19,813 7,927 27,740 Total Operating Expenses 74,660 28,441 103,101 Operating Income $ 28,846 $ 2,631 $ 31,477 (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 recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. (2) Service and other revenues and Wireless equipment revenues included in our Business segment amounted to approximately $27.0 billion and $4.0 billion, respectively, for the year ended December 31, 2022. (3) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (4) Centrally managed network and shared service costs include costs for network and leased assets, supply chain and other centralized services that are allocated to our Consumer and Business segments based on proportionate usage of services. (5) Other segment expenses for each reportable segment include certain personnel, digital content, sales-related, overhead, other direct and operating costs. The following table provides Fios revenues for our two reportable segments and includes intersegment activity: (dollars in millions) Years Ended December 31, 2024 2023 2022 Consumer $ 11,647 $ 11,614 $ 11,622 Business 1,252 1,235 1,201 Total Fios revenue $ 12,899 $ 12,849 $ 12,823 The following table provides Wireless service revenue for our reportable segments and includes intersegment activity: (dollars in millions) Years Ended December 31, 2024 2023 2022 Consumer $ 65,374 $ 63,358 $ 61,509 Business 13,753 13,372 12,845 Total Wireless service revenue $ 79,127 $ 76,730 $ 74,354
Summary of Reconciliation of Segment Operating Revenues	A reconciliation of the total reportable segments’ operating revenues to consolidated operating revenues is as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Operating Revenues Total reportable segments $ 132,435 $ 131,748 $ 134,578 Corporate and other 2,609 2,479 2,510 Reconciling items: Eliminations (256) (253) (253) Consolidated Operating Revenues $ 134,788 $ 133,974 $ 136,835
Summary of Reconciliation of Segment Operating Income	A reconciliation of the total reportable segments' operating income to consolidated income before provision for income taxes is as follows: (dollars in millions) Years Ended December 31, 2024 2023 2022 Operating Income Total reportable segments $ 31,542 $ 31,077 $ 31,477 Corporate and other (610) (643) (319) Reconciling items: Severance charges (1,733) (533) (304) Other components of net periodic pension and benefit charges (Note 11) (33) (248) (387) Asset and business rationalization (374) (480) — Legacy legal matter (106) — — Verizon Business Group goodwill impairment — (5,841) — Legal settlement — (100) — Business transformation costs — (176) — Non-strategic business shutdown — (179) — Consolidated operating income 28,686 22,877 30,467 Equity in earnings (losses) of unconsolidated businesses (53) (53) 44 Other income (expense), net 995 (313) 1,373 Interest expense (6,649) (5,524) (3,613) Income Before Provision For Income Taxes $ 22,979 $ 16,987 $ 28,271

Equity and Comprehensive Inco_2

Equity and Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Components in Accumulated Other Comprehensive Income	The changes in the balances of Accumulated other comprehensive income (loss) by component are as follows: (dollars in millions) Foreign currency translation adjustments Unrealized gain (loss) on cash flow hedges Unrealized gain (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 — — (371) — — (371) Other comprehensive loss (153) (174) — (25) (317) (669) Amounts reclassified to net income — 496 (60) — (334) 102 Net other comprehensive income (loss) (153) 322 (431) (25) (651) (938) Balance at December 31, 2022 (698) (1,150) (431) (9) 423 (1,865) Excluded components recognized in other comprehensive income — — 617 — — 617 Other comprehensive income 62 3 — 5 — 70 Amounts reclassified to net income — 85 (81) 2 (208) (202) Net other comprehensive income (loss) 62 88 536 7 (208) 485 Balance at December 31, 2023 (636) (1,062) 105 (2) 215 (1,380) Excluded components recognized in other comprehensive income — — 547 — — 547 Other comprehensive loss (97) (16) — (3) — (116) Amounts reclassified to net income — 97 (63) — (8) 26 Net other comprehensive income (loss) (97) 81 484 (3) (8) 457 Balance at December 31, 2024 $ (733) $ (981) $ 589 $ (5) $ 207 $ (923)

Additional Financial Informat_2

Additional Financial Information (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Income Statement Information	The following tables provide additional financial information related to our consolidated financial statements: Income Statement Information (dollars in millions) Years Ended December 31, 2024 2023 2022 Depreciation expense $ 15,112 $ 14,937 $ 14,592 Interest costs on debt balances 7,382 7,123 5,429 Net amortization of debt discount 230 219 214 Capitalized interest costs (963) (1,818) (2,030) Advertising expense 3,976 3,847 3,556 (dollars in millions) Years Ended December 31, 2024 2023 2022 Other income (expense), net Interest income $ 336 $ 354 $ 146 Other components of net periodic benefit (cost) income 300 (938) 2,386 Net debt extinguishment gains (losses) 385 308 (1,077) Other, net (26) (37) (82) $ 995 $ (313) $ 1,373
Balance Sheet Information	Balance Sheet Information (dollars in millions) At December 31, 2024 2023 Prepaid expenses and other Prepaid taxes $ 811 $ 550 Deferred contract costs 2,932 2,756 Collateral payments related to derivative contracts 2,118 1,406 Restricted cash 319 1,244 Other prepaid expense and other 1,793 1,651 $ 7,973 $ 7,607 Accounts payable and accrued liabilities Accounts payable $ 10,425 $ 10,021 Accrued expenses 5,058 5,190 Accrued vacation, salaries and wages 4,436 4,060 Interest payable 1,553 1,570 Taxes payable 1,902 2,612 $ 23,374 $ 23,453 Other current liabilities Dividends payable $ 2,878 $ 2,821 Contract liability 7,492 6,955 Other 3,979 2,755 $ 14,349 $ 12,531
Cash Flow Information	Cash Flow Information (dollars in millions) Years Ended December 31, 2024 2023 2022 Cash Paid Interest, net of amounts capitalized $ 5,505 $ 4,384 $ 3,316 Income taxes, net of amounts refunded 5,632 2,343 2,736 Other, net Cash Flows from Operating Activities Changes in device payment plan agreement non-current receivables $ (538) $ (2,975) $ (4,919) Net debt extinguishment (gains) losses (385) (308) 1,077 Other, net 1,096 (427) 64 $ 173 $ (3,710) $ (3,778) Other, net Cash Flows from Financing Activities Net debt related costs (1) $ (259) $ (73) $ (366) Other, net (816) (1,397) (1,706) $ (1,075) $ (1,470) $ (2,072) (1) These costs include the premiums paid for the early extinguishment of debt, fees paid in connection with exchange and tender offers, and settlements of associated instruments.
Supplier Finance Program	The following table presents the confirmed obligations in the SFP and the related activities: (dollars in millions) Year Ended December 31, 2024 Confirmed obligations outstanding at the beginning of the year $ 817 Invoices added during the year 3,549 Invoices paid during the year (3,594) Confirmed obligations outstanding at the end of year $ 772

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Narrative (Detail) shares in Millions	12 Months Ended
	Dec. 31, 2024 state plan segment shares	Dec. 31, 2023 shares	Dec. 31, 2022 shares
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments | segment	2
Number of states in which wireline services are provided | state	9
Number of payment plans | plan	2
Restricted stock units outstanding to purchase shares included in diluted earnings per common share (in shares) | shares	4.7	4.2	1.9
Minimum threshold period for existing customers	210 days
Maximum threshold period for new customers	210 days
Wireless Licenses
Organization And Summary Of Significant Accounting Policies [Line Items]
Average remaining renewal period of wireless license portfolio (in years)	10 years	10 years
Wireless Licenses | Maximum
Organization And Summary Of Significant Accounting Policies [Line Items]
Average remaining renewal period of wireless license portfolio (in years)	15 years
Wireless Licenses | Minimum
Organization And Summary Of Significant Accounting Policies [Line Items]
Average remaining renewal period of wireless license portfolio (in years)	10 years
Non-Network Internal-Use Software | Maximum
Organization And Summary Of Significant Accounting Policies [Line Items]
Useful life for finite-lived intangible assets, years	7 years
Non-Network Internal-Use Software | Minimum
Organization And Summary Of Significant Accounting Policies [Line Items]
Useful life for finite-lived intangible assets, years	3 years
Fixed Term Plan
Organization And Summary Of Significant Accounting Policies [Line Items]
Contract term	36 months
Device Payment Plan
Organization And Summary Of Significant Accounting Policies [Line Items]
Contract term	36 months

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 4,194	$ 2,065
Restricted cash, current	319	1,244
Restricted cash, noncurrent	122	188
Cash, cash equivalents and restricted cash	4,635	3,497	$ 4,111	$ 4,161
Increase (Decrease) in cash, cash equivalents and restricted cash	1,138	$ (614)	$ (50)
Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Increase (Decrease) in cash, cash equivalents and restricted cash	2,129
Prepaid expenses and other
Cash and Cash Equivalents [Line Items]
Increase (Decrease) in cash, cash equivalents and restricted cash	(925)
Other assets
Cash and Cash Equivalents [Line Items]
Increase (Decrease) in cash, cash equivalents and restricted cash	$ (66)

Revenue and Contract Costs - Na

Revenue and Contract Costs - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments | segment	2
Revenue from arrangements not accounted for under Topic 606	$ 3,100,000,000	$ 2,900,000,000	$ 3,200,000,000
Contract with customer asset period increase	128,000,000
Contract with customer, asset, credit loss expense (reversal)	53,000,000
Contract with customer liability period increase	776,000,000
Revenue recognized from previously recognized contract liability	5,000,000,000	4,900,000,000
Amortization of deferred contract costs	3,400,000,000	3,200,000,000
Deferred contract costs, impairment charges	$ 0	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation	$ 28,500,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation	$ 17,500,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period
Revenue, remaining performance obligation	$ 7,200,000,000
Minimum
Disaggregation of Revenue [Line Items]
Deferred contract cost, amortization period	2 years
Minimum | Consumer
Disaggregation of Revenue [Line Items]
Contract term	12 months
Maximum
Disaggregation of Revenue [Line Items]
Deferred contract cost, amortization period	7 years
Maximum | Consumer
Disaggregation of Revenue [Line Items]
Contract term	2 years
Maximum | Business
Disaggregation of Revenue [Line Items]
Contract term	12 months
Wireless postpaid contracts
Disaggregation of Revenue [Line Items]
Percentage of month-to-month contracts of total service contracts	95%	95%
Wireline Consumer And Business Markets And Other Contracts
Disaggregation of Revenue [Line Items]
Percentage of month-to-month contracts of total service contracts	95%	94%
Wireless Service, Device Payment Plans | Minimum
Disaggregation of Revenue [Line Items]
Contract term	1 month
Wireless Service, Device Payment Plans | Maximum
Disaggregation of Revenue [Line Items]
Contract term	36 months
Reseller Arrangements | Minimum | Consumer
Disaggregation of Revenue [Line Items]
Contract term	2 years
Customer Contracts that Have Contract Minimum over Total Contract Term | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	29 years
Revenue, remaining performance obligation	$ 1,800,000,000

Revenue and Contract Costs - Sc

Revenue and Contract Costs - Schedule of Receivables from Contracts with Customers (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts Receivable	$ 9,225	$ 9,760
Device payment plan agreement receivables	$ 19,766	$ 18,528

Revenue and Contract Costs - Co

Revenue and Contract Costs - Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Prepaid expenses and other	$ 621	$ 546
Other assets	321	268
Total Contract Assets	942	814
Liabilities
Other current liabilities	7,492	6,955
Other liabilities	2,186	1,947
Total Contract Liabilities	$ 9,678	$ 8,902

Revenue and Contract Costs - _2

Revenue and Contract Costs - Schedule of Cost Incurred to Obtain or Fulfill Contracts with Customers (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Prepaid expenses and other	$ 2,932	$ 2,756
Other assets	2,808	2,639
Total	$ 5,740	$ 5,395

Acquisitions and Divestitures -

Acquisitions and Divestitures - Spectrum License Transactions (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Oct. 17, 2024	Feb. 28, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Payments for intangible assets			$ 900	$ 5,796	$ 3,653
Spectrum Licenses, United States Cellular Corporation (UScellular)
Business Acquisition [Line Items]
Asset acquisition, consideration transferred	$ 1,000
Spectrum Licenses, C-Band | Spectrum Licenses
Business Acquisition [Line Items]
Estimated clearing and incentive costs		$ 7,500
Spectrum Licenses, C-Band | Spectrum Licenses | Satellite Agreements
Business Acquisition [Line Items]
Payments for intangible assets					310
Costs incurred for license agreements acquired					340
Spectrum Licenses, C-Band | Spectrum Licenses | Projected Clearing Costs
Business Acquisition [Line Items]
Payments for intangible assets			$ 269	$ 4,300	$ 1,600

Acquisitions and Divestitures_2

Acquisitions and Divestitures - TracFone Wireless, Inc. (Details) - USD ($) $ in Millions		12 Months Ended
	Nov. 23, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Business acquisition, purchase price in cash		$ 0	$ 30	$ (248)
TracFone Wireless, Inc.
Business Acquisition [Line Items]
Business acquisition, purchase price in cash	$ 3,500
Number of shares issuable (in shares)	57,596,544
Common stock value consideration to acquire business	$ 3,000
Future cash consideration related to achievement of certain performance measures	650
Contingent consideration	$ 560
Contingent consideration, earnout period	2 years
Contingent consideration payment		$ 52	$ 257	188
Cash acquired				$ 248

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Frontier Communications Parent, Inc. (Details) - Frontier $ / shares in Units, $ in Millions	Sep. 04, 2024 USD ($) $ / shares
Business Acquisition [Line Items]
Business acquisition, share price (in dollars per share) | $ / shares	$ 38.50
Business combination, termination fee	$ 590
Frontier
Business Acquisition [Line Items]
Business combination, termination fee	$ 320

Wireless Licenses, Goodwill a_3

Wireless Licenses, Goodwill and Other Intangible Assets - Schedule of Carrying Amount of Wireless Licenses (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Wireless licenses	$ 156,613	$ 155,667

Wireless Licenses, Goodwill a_4

Wireless Licenses, Goodwill and Other Intangible Assets - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Indefinite-lived Intangible Assets [Line Items]
Payments for intangible assets		$ 900	$ 5,796	$ 3,653
Capitalized interest costs		963	1,818	2,030
Verizon Business Group goodwill impairment	$ 5,800	0	5,841	0
Goodwill impairment, after-tax	5,800
Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Wireless licenses under development	$ 15,000	10,100	15,000
Capitalized interest costs		$ 616	$ 1,400
Average remaining renewal period of wireless license portfolio (in years)		10 years	10 years
Spectrum Licenses, C-Band | Loss on spectrum license transactions | Projected Clearing Costs
Indefinite-lived Intangible Assets [Line Items]
Payments for intangible assets		$ 269	$ 4,300	$ 1,600

Wireless Licenses, Goodwill a_5

Wireless Licenses, Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balance		$ 22,843	$ 28,671
Acquisitions			35
Verizon Business Group goodwill impairment	$ (5,800)	0	(5,841)	$ 0
Reclassifications, adjustments and other		(2)	(22)
Ending balance	22,843	22,841	22,843	28,671
Goodwill accumulated impairment	5,900		5,900	16
Selling, general and administrative expense
Goodwill [Roll Forward]
Verizon Business Group goodwill impairment			(27)
Business
Goodwill [Roll Forward]
Goodwill accumulated impairment	5,800		5,800
Operating Segments | Consumer
Goodwill [Roll Forward]
Beginning balance		21,177	21,142
Acquisitions			35
Verizon Business Group goodwill impairment			0
Reclassifications, adjustments and other		0	0
Ending balance	21,177	21,177	21,177	21,142
Operating Segments | Business
Goodwill [Roll Forward]
Beginning balance		1,666	7,502
Acquisitions			0
Verizon Business Group goodwill impairment			(5,841)
Reclassifications, adjustments and other		(2)	5
Ending balance	1,666	1,664	1,666	7,502
Segment Reporting, Reconciling Item, Corporate Nonsegment
Goodwill [Roll Forward]
Beginning balance		0	27
Acquisitions			0
Verizon Business Group goodwill impairment			0
Reclassifications, adjustments and other		0	(27)
Ending balance	0	$ 0	0	$ 27
Goodwill accumulated impairment	$ 43		$ 43

Wireless Licenses, Goodwill a_6

Wireless Licenses, Goodwill and Other Intangible Assets - Composition of Other Intangible Assets, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 35,042	$ 32,515
Accumulated Amortization	(23,913)	(21,458)
Net Amount	11,129	11,057
Customer lists
Finite-Lived Intangible Assets [Line Items]
Gross Amount	4,242	4,335
Accumulated Amortization	(2,629)	(2,193)
Net Amount	$ 1,613	2,142
Customer lists | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	5 years
Customer lists | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	13 years
Non-Network Internal-Use Software
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 28,136	25,524
Accumulated Amortization	(19,743)	(17,949)
Net Amount	$ 8,393	7,575
Non-Network Internal-Use Software | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	3 years
Non-Network Internal-Use Software | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	7 years
Other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 2,664	2,656
Accumulated Amortization	(1,541)	(1,316)
Net Amount	$ 1,123	$ 1,340
Other | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	4 years
Other | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	25 years

Wireless Licenses, Goodwill a_7

Wireless Licenses, Goodwill and Other Intangible Assets - Amortization Expense for Other Intangible Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for other intangible assets	$ 2,781	$ 2,687	$ 2,507

Wireless Licenses, Goodwill a_8

Wireless Licenses, Goodwill and Other Intangible Assets - Estimated Future Amortization Expense for Other Intangible Assets (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 2,825
2026	2,571
2027	2,025
2028	1,549
2029	$ 887

Property, Plant and Equipment_2

Property, Plant and Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 331,406	$ 320,108
Less Accumulated depreciation	222,884	211,798
Property, plant and equipment, net	108,522	108,310
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	740	751
Buildings and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 39,130	36,940
Buildings and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	7 years
Buildings and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	45 years
Central office and other network equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 176,680	170,161
Central office and other network equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Central office and other network equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	15 years
Antennas, cable, conduit, poles and towers
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 82,810	78,355
Antennas, cable, conduit, poles and towers | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	4 years
Antennas, cable, conduit, poles and towers | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	50 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 10,562	10,355
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	5 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	20 years
Work in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 9,424	12,092
Furniture, vehicles and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 12,060	$ 11,454
Furniture, vehicles and other | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Furniture, vehicles and other | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	20 years

Leasing Arrangements - Addition

Leasing Arrangements - Additional Information (Details) wireless_tower in Thousands, $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2024 USD ($) renewal_term wireless_tower	Mar. 31, 2015 USD ($) tower	Dec. 31, 2024 USD ($) renewal_term wireless_tower	Dec. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Leases renewal term			25 years
Finance lease obligations	$ 2,349		$ 2,349	$ 2,091
Contractually obligated lease payments for operating leases not yet commenced	$ 1,400		$ 1,400
Vertical Bridge REIT, LLC
Lessee, Lease, Description [Line Items]
Number of wireless towers | wireless_tower	6		6
Lessor, operating lease, upfront payment	$ 2,800
Lessor, operating lease, term of contract	30 years		30 years
Sale leaseback transaction, lease term	10 years
Lessor, operating lease, number of optional renewal terms | renewal_term	8		8
Lessor, operating lease, renewal term	5 years		5 years
Prepaid rent	$ 2,000		$ 2,000
Finance lease obligations	$ 830		$ 830
Minimum
Lessee, Lease, Description [Line Items]
Leases remaining lease term			1 year
Maximum
Lessee, Lease, Description [Line Items]
Leases remaining lease term			30 years
Tower Monetization Transaction
Lessee, Lease, Description [Line Items]
Number of towers subject to failed sale leaseback | tower		11,300
Proceeds from failed sale lease back		$ 5,000
Minimum number of years to sublease capacity on towers		10 years

Leasing Arrangements - Componen

Leasing Arrangements - Components of Net Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 5,607	$ 5,432	$ 5,345
Amortization of right-of-use assets	329	259	224
Interest on lease liabilities	98	69	36
Short-term lease cost	21	29	23
Variable lease cost	310	313	294
Sublease income	(216)	(210)	(199)
Total net lease cost	$ 6,149	$ 5,892	$ 5,723

Leasing Arrangements - Suppleme

Leasing Arrangements - Supplemental Disclosure for Statement of Cash Flows related to Operating and Finance Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Operating cash flows for operating leases	$ (5,067)	$ (4,929)	$ (4,490)
Operating cash flows for finance leases	(98)	(69)	(36)
Cash Flows from Financing Activities
Financing cash flows for finance leases	(794)	(612)	(449)
Supplemental lease cash flow disclosures
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	4,385	2,634	2,392
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 1,051	$ 968	$ 832

Leasing Arrangements - Supple_2

Leasing Arrangements - Supplemental Disclosure for Balance Sheet related to Finance Leases (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment	Property, plant and equipment
Property, plant and equipment, net	$ 1,692	$ 1,459
Liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Debt maturing within one year	Debt maturing within one year
Debt maturing within one year	$ 894	$ 753
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Long-term debt	$ 1,455	$ 1,338
Total Finance lease liabilities	$ 2,349	$ 2,091

Leasing Arrangements - Schedule

Leasing Arrangements - Schedule of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate related to Leases (Details)	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating leases, weighted average remaining lease term	8 years	8 years
Finance leases, weighted average remaining lease term	3 years	3 years
Operating leases, weighted average discount rate	4.10%	3.60%
Finance leases, weighted average discount rate	4.80%	2.90%

Leasing Arrangements - Schedu_2

Leasing Arrangements - Schedule of Lease Liability Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 5,013
2026	4,685
2027	4,392
2028	3,004
2029	2,505
Thereafter	9,451
Total lease payments	29,050
Less interest	4,707
Present value of lease liabilities	24,343
Less current obligation	4,415	$ 4,266
Long-term obligation at December 31, 2024	19,928	20,002
Finance Leases
2025	954
2026	714
2027	457
2028	248
2029	116
Thereafter	53
Total lease payments	2,542
Less interest	193
Total Finance lease liabilities	2,349	2,091
Less current obligation	894	753
Long-term obligation at December 31, 2024	$ 1,455	$ 1,338

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt Obligations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule of Capitalization, Long-term Debt [Line Items]
Finance lease obligations	$ 2,349	$ 2,091
Unamortized discount, net of premium	(3,604)	(3,812)
Unamortized debt issuance costs	(558)	(616)
Total long-term debt, including current maturities	143,949	150,674
Less long-term debt maturing within one year	22,568	12,973
Total long-term debt	121,381	137,701
Add short-term vendor financing arrangements	65	0
Debt maturing within one year	22,633	12,973
Total debt	$ 144,014	$ 150,674
Finance Lease, Liability
Schedule of Capitalization, Long-term Debt [Line Items]
Finance lease obligations average rate	4.80%	2.90%
Vendor Financing Arrangements
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 85	$ 64
Floating Rate, Maturities Less Than 5 Years And 5 To 10 Years | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, percentage points added to the reference rate	4.598%
Floating Rate, Maturities Less Than 5 Years And 5 To 10 Years | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, percentage points added to the reference rate	5.556%
Verizon Communications | Maturities Less Than 5 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 29,325	33,316
Verizon Communications | Maturities Less Than 5 Years | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	0.75%
Verizon Communications | Maturities Less Than 5 Years | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	6.94%
Verizon Communications | Maturities 5 To 10 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 33,851	37,229
Verizon Communications | Maturities 5 To 10 Years | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	1.50%
Verizon Communications | Maturities 5 To 10 Years | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	7.88%
Verizon Communications | Maturities Greater Than 10 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 52,719	55,355
Verizon Communications | Maturities Greater Than 10 Years | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	1.13%
Verizon Communications | Maturities Greater Than 10 Years | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	8.95%
Verizon Communications | Floating Rate, Maturities Less Than 5 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 1,171	2,099
Verizon Communications | Floating Rate, Maturities 5 To 10 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 1,735	2,029
Alltel Corporation | Maturities Less Than 5 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	6.80%
Long-term debt, gross	$ 38
Alltel Corporation | Maturities 5 To 10 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 56	94
Alltel Corporation | Maturities 5 To 10 Years | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	6.80%
Alltel Corporation | Maturities 5 To 10 Years | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	7.88%
Operating telephone company subsidiaries—debentures | Maturities Less Than 5 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 286	79
Operating telephone company subsidiaries—debentures | Maturities Less Than 5 Years | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	6%
Operating telephone company subsidiaries—debentures | Maturities Less Than 5 Years | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	8.38%
Operating telephone company subsidiaries—debentures | Maturities 5 To 10 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 328	535
Operating telephone company subsidiaries—debentures | Maturities 5 To 10 Years | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	5.13%
Operating telephone company subsidiaries—debentures | Maturities 5 To 10 Years | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	8.75%
Other subsidiaries – asset-backed debt | Maturities Less Than 5 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 16,363	14,048
Other subsidiaries – asset-backed debt | Maturities Less Than 5 Years | Minimum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	0.50%
Other subsidiaries – asset-backed debt | Maturities Less Than 5 Years | Maximum
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	6.09%
Other subsidiaries – asset-backed debt | Floating Rate, Maturities Less Than 5 Years
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 9,805	$ 8,163

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-Term Debt (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 21,709
2026	7,823
2027	9,158
2028	11,592
2029	8,673
Thereafter	$ 83,203

Debt - Schedule of Significant

Debt - Schedule of Significant Debt Transactions (Details) € in Millions, £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 GBP (£)
Exchange Offers
Principal Amount Exchanged	$ 2,256
Principal Amount Issued	2,191
Debt instrument, unamortized premium	65
Tender Offer
Principal Amount Purchased
Cash Consideration	5,504
Repayments, Redemptions and Repurchases
Repayments of debt	4,688
Issuances
Net Proceeds	3,103
Verizon 0.850%-4.329% Notes Due 2025-2028
Exchange Offers
Principal Amount Exchanged	2,256
Principal Amount Issued	$ 0
Verizon 4.780% Notes Due 2035
Exchange Offers
Debt instrument, interest rate, stated percentage	4.78%	4.78%	4.78%
Principal Amount Exchanged	$ 0
Principal Amount Issued	2,191
Verizon 0.875%-3.250% Notes And Floating Rate Notes Due 2025-2028
Tender Offer
Principal Amount Purchased	1,981
Cash Consideration	2,237
Verizon 0.850% - 3.376% notes and floating rate notes, due 2025 - 2026
Tender Offer
Principal Amount Purchased	3,314
Cash Consideration	$ 3,267
Verizon 1.625% notes due 2024
Exchange Offers
Debt instrument, interest rate, stated percentage	1.625%	1.625%	1.625%
Repayments, Redemptions and Repurchases
Principal Repaid/ Repurchased | €		€ 685
Repayments of debt	$ 840
Verizon 4.073% notes due 2024
Exchange Offers
Debt instrument, interest rate, stated percentage	4.073%	4.073%	4.073%
Repayments, Redemptions and Repurchases
Principal Repaid/ Repurchased | £			£ 413
Repayments of debt	$ 582
Verizon 0.750% notes due 2024
Exchange Offers
Debt instrument, interest rate, stated percentage	0.75%	0.75%	0.75%
Repayments, Redemptions and Repurchases
Principal Repaid/ Repurchased	$ 999
Repayments of debt	1,003
Verizon Floating Rate Notes Due 2024
Repayments, Redemptions and Repurchases
Principal Repaid/ Repurchased	95
Repayments of debt	$ 96
Verizon 3.500% notes due 2024
Exchange Offers
Debt instrument, interest rate, stated percentage	3.50%	3.50%	3.50%
Repayments, Redemptions and Repurchases
Principal Repaid/ Repurchased	$ 1,161
Repayments of debt	1,182
Open market repurchases of various Verizon notes
Repayments, Redemptions and Repurchases
Principal Repaid/ Repurchased	1,255
Repayments of debt	985
Gain on debt repurchase	$ 267
3.500% Notes due 2032
Exchange Offers
Debt instrument, interest rate, stated percentage	3.50%	3.50%	3.50%
Issuances
Principal Amount Issued | €		€ 1,000
Net Proceeds	$ 1,062
3.750% Notes due 2036
Exchange Offers
Debt instrument, interest rate, stated percentage	3.75%	3.75%	3.75%
Issuances
Principal Amount Issued | €		€ 1,000
Net Proceeds	$ 1,061
5.500% Notes Due 2054
Exchange Offers
Debt instrument, interest rate, stated percentage	5.50%	5.50%	5.50%
Issuances
Principal Amount Issued	$ 1,000
Net Proceeds	$ 980
Minimum | Verizon 0.850%-4.329% Notes Due 2025-2028
Exchange Offers
Debt instrument, interest rate, stated percentage	0.85%	0.85%	0.85%
Minimum | Verizon 0.875%-3.250% Notes And Floating Rate Notes Due 2025-2028
Exchange Offers
Debt instrument, interest rate, stated percentage	0.875%	0.875%	0.875%
Minimum | Verizon 0.850% - 3.376% notes and floating rate notes, due 2025 - 2026
Exchange Offers
Debt instrument, interest rate, stated percentage	0.85%	0.85%	0.85%
Maximum | Verizon 0.850%-4.329% Notes Due 2025-2028
Exchange Offers
Debt instrument, interest rate, stated percentage	4.329%	4.329%	4.329%
Maximum | Verizon 0.875%-3.250% Notes And Floating Rate Notes Due 2025-2028
Exchange Offers
Debt instrument, interest rate, stated percentage	3.25%	3.25%	3.25%
Maximum | Verizon 0.850% - 3.376% notes and floating rate notes, due 2025 - 2026
Exchange Offers
Debt instrument, interest rate, stated percentage	3.376%	3.376%	3.376%

Debt - Narrative (Detail)

Debt - Narrative (Detail)	1 Months Ended										12 Months Ended
	Jan. 31, 2025 USD ($) series	Dec. 31, 2024 USD ($)	Oct. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)	Aug. 31, 2024 USD ($)	Jun. 30, 2024 USD ($)	Apr. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Jan. 31, 2024 USD ($)	Dec. 31, 2021 agreement	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Feb. 29, 2024 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt											$ 15,600,000,000	$ 8,600,000,000
Repayments of debt and capital lease obligations											20,300,000,000	10,600,000,000
Repayments of debt											4,688,000,000
Facility Capacity		$ 22,000,000,000									22,000,000,000
Principal Amount Outstanding		5,441,000,000									5,441,000,000
Value of purchase assets financed											3,300,000,000	3,800,000,000
Less long-term debt maturing within one year		22,568,000,000									22,568,000,000	12,973,000,000
Gain (loss) on debt extinguishment											385,000,000	308,000,000	$ (1,100,000,000)
Subsequent event
Debt Instrument [Line Items]
Debt instrument, number of notes | series	2
Verizon revolving credit facility
Debt Instrument [Line Items]
Amount drawn from credit facilities											0
Facility Capacity		12,000,000,000						$ 12,000,000,000			12,000,000,000			$ 9,500,000,000
Principal Amount Outstanding		0									0
Alternative Financing Facility | Network Equipment
Debt Instrument [Line Items]
Value of purchase assets financed											1,600,000,000	1,300,000,000	$ 832,000,000
Less long-term debt maturing within one year		2,500,000,000									2,500,000,000	2,200,000,000
Asset-Backed Debt
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt											12,400,000,000	6,600,000,000
Repayments of debt											8,500,000,000	4,400,000,000
Secured debt, carrying value		26,100,000,000									26,100,000,000
Green Bond
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt											1,000,000,000	1,000,000,000
Commercial Paper
Debt Instrument [Line Items]
Proceeds from commercial paper											27,500,000,000
Repayments of short-term debt											27,500,000,000
Commercial paper, amount outstanding		0									0
Asset Backed Notes
Debt Instrument [Line Items]
Principal Amount Issued		6,923,000,000									6,923,000,000
Asset Backed Notes | Subsequent event
Debt Instrument [Line Items]
Repayments of debt	$ 800,000,000
Principal Amount Issued	$ 1,100,000,000
Asset Backed Notes | Subsequent event | Minimum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.74%
Asset Backed Notes | Subsequent event | Maximum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.97%
Asset Backed Notes | Senior asset-backed notes
Debt Instrument [Line Items]
Repayments of debt											$ 4,500,000,000	$ 3,700,000,000
Asset Backed Notes | Senior asset-backed notes | Term Two
Debt Instrument [Line Items]
Debt revolving period											2 years
Asset Backed Notes | Senior asset-backed notes | Term Three
Debt Instrument [Line Items]
Debt revolving period											3 years
Asset Backed Notes | Senior asset-backed notes | Term Four
Debt Instrument [Line Items]
Debt revolving period											5 years
2021 ABS Financing Facility
Debt Instrument [Line Items]
Repayments of debt				$ 950,000,000			$ 900,000,000		$ 900,000,000
Amount drawn from credit facilities		650,000,000	$ 1,600,000,000	$ 450,000,000	$ 1,200,000,000	$ 225,000,000		$ 600,000,000
Number of loan agreements | agreement										2
Outstanding balance		8,000,000,000									$ 8,000,000,000
2022 ABS Financing Facility | Senior asset-backed notes
Debt Instrument [Line Items]
Amount drawn from credit facilities		$ 1,000,000,000				$ 1,100,000,000
Debt revolving period		1 year
Outstanding balance		$ 5,000,000,000									5,000,000,000
Guarantee of Debentures of Operating Telephone Company Subsidiaries
Debt Instrument [Line Items]
Principal amount outstanding in connection with the guarantee of debt obligations		$ 614,000,000									$ 614,000,000

Debt - Schedule of Asset-Backed

Debt - Schedule of Asset-Backed Notes Transactions (Details) - USD ($) $ in Millions	1 Months Ended
	Nov. 30, 2024	Sep. 30, 2024	Jun. 30, 2024	Apr. 30, 2024	Jan. 31, 2024	Dec. 31, 2024
Asset Backed Notes
Debt Instrument [Line Items]
Principal Amount Issued						$ 6,923
January 2024 ABS Notes
Debt Instrument [Line Items]
Principal Amount Issued					$ 1,915
January 2024 ABS Notes | A-1a Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument					5%
Expected Weighted-average Life to Maturity (in years)					1 year 11 months 1 day
Principal Amount Issued					$ 835
January 2024 ABS Notes | A-1b Senior class notes
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate					0.65%
Expected Weighted-average Life to Maturity (in years)					1 year 11 months 1 day
Principal Amount Issued					$ 279
January 2024 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument					5.24%
Expected Weighted-average Life to Maturity (in years)					1 year 11 months 1 day
Principal Amount Issued					$ 0
January 2024 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument					5.49%
Expected Weighted-average Life to Maturity (in years)					1 year 11 months 1 day
Principal Amount Issued					$ 51
January 2024 ABS Notes | A Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument					4.83%
Expected Weighted-average Life to Maturity (in years)					4 years 11 months 1 day
Principal Amount Issued					$ 668
January 2024 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument					5.08%
Expected Weighted-average Life to Maturity (in years)					4 years 11 months 1 day
Principal Amount Issued					$ 51
January 2024 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument					5.32%
Expected Weighted-average Life to Maturity (in years)					4 years 11 months 1 day
Principal Amount Issued					$ 31
April 2024 ABS Notes
Debt Instrument [Line Items]
Principal Amount Issued				$ 875
April 2024 ABS Notes | A-1a Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument				5.34%
Expected Weighted-average Life to Maturity (in years)				2 years 11 months 26 days
Principal Amount Issued				$ 605
April 2024 ABS Notes | A-1b Senior class notes
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate				0.58%
Expected Weighted-average Life to Maturity (in years)				2 years 11 months 26 days
Principal Amount Issued				$ 175
April 2024 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument				5.54%
Expected Weighted-average Life to Maturity (in years)				2 years 11 months 26 days
Principal Amount Issued				$ 59
April 2024 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument				5.73%
Expected Weighted-average Life to Maturity (in years)				2 years 11 months 26 days
Principal Amount Issued				$ 36
June 2024 ABS Notes
Debt Instrument [Line Items]
Principal Amount Issued			$ 1,176
June 2024 ABS Notes | A-1a Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			5.21%
Expected Weighted-average Life to Maturity (in years)			1 year 11 months 23 days
Principal Amount Issued			$ 289
June 2024 ABS Notes | A-1b Senior class notes
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate			0.55%
Expected Weighted-average Life to Maturity (in years)			1 year 11 months 23 days
Principal Amount Issued			$ 246
June 2024 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			5.40%
Expected Weighted-average Life to Maturity (in years)			1 year 11 months 23 days
Principal Amount Issued			$ 41
June 2024 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			5.60%
Expected Weighted-average Life to Maturity (in years)			1 year 11 months 23 days
Principal Amount Issued			$ 25
June 2024 ABS Notes | A Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			5%
Expected Weighted-average Life to Maturity (in years)			4 years 11 months 23 days
Principal Amount Issued			$ 512
June 2024 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			5.25%
Expected Weighted-average Life to Maturity (in years)			4 years 11 months 23 days
Principal Amount Issued			$ 39
June 2024 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			5.49%
Expected Weighted-average Life to Maturity (in years)			4 years 11 months 23 days
Principal Amount Issued			$ 24
September 2024 ABS Notes
Debt Instrument [Line Items]
Principal Amount Issued		$ 1,957
September 2024 ABS Notes | A-1a Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.17%
Expected Weighted-average Life to Maturity (in years)		2 years 11 months 1 day
Principal Amount Issued		$ 1,069
September 2024 ABS Notes | A-1b Senior class notes
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate		0.67%
Expected Weighted-average Life to Maturity (in years)		2 years 11 months 1 day
Principal Amount Issued		$ 267
September 2024 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.42%
Expected Weighted-average Life to Maturity (in years)		2 years 11 months 1 day
Principal Amount Issued		$ 0
September 2024 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.67%
Expected Weighted-average Life to Maturity (in years)		2 years 11 months 1 day
Principal Amount Issued		$ 61
September 2024 ABS Notes | A Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.35%
Expected Weighted-average Life to Maturity (in years)		4 years 11 months 1 day
Principal Amount Issued		$ 535
September 2024 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.60%
Expected Weighted-average Life to Maturity (in years)		4 years 11 months 1 day
Principal Amount Issued		$ 0
September 2024 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument		4.84%
Expected Weighted-average Life to Maturity (in years)		4 years 11 months 1 day
Principal Amount Issued		$ 25
November 2024 ABS Notes
Debt Instrument [Line Items]
Principal Amount Issued	$ 1,000
November 2024 ABS Notes | A-1a Senior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.62%
Expected Weighted-average Life to Maturity (in years)	2 years 11 months 23 days
Principal Amount Issued	$ 816
November 2024 ABS Notes | A-1b Senior class notes
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	0.42%
Expected Weighted-average Life to Maturity (in years)	2 years 11 months 23 days
Principal Amount Issued	$ 75
November 2024 ABS Notes | B Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.82%
Expected Weighted-average Life to Maturity (in years)	2 years 11 months 23 days
Principal Amount Issued	$ 68
November 2024 ABS Notes | C Junior class notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.99%
Expected Weighted-average Life to Maturity (in years)	2 years 11 months 23 days
Principal Amount Issued	$ 41

Debt - Schedule of Assets and L

Debt - Schedule of Assets and Liabilities Related to Asset-backed Debt Arrangements (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Prepaid expenses and other	$ 7,973	$ 7,607
Other assets	19,769	19,885
Accounts payable and accrued liabilities	23,374	23,453
Debt maturing within one year	22,633	12,973
Long-term debt	121,381	137,701
Variable Interest Entity, Primary Beneficiary
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Accounts receivable, net	18,339	14,550
Prepaid expenses and other	322	1,288
Other assets	11,647	11,682
Accounts payable and accrued liabilities	37	29
Debt maturing within one year	17,312	7,483
Long-term debt	$ 8,827	$ 14,700

Debt - Schedule of Long-Term Cr

Debt - Schedule of Long-Term Credit Facilities (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2024	Feb. 29, 2024
Debt Instrument [Line Items]
Facility Capacity	$ 22,000,000,000
Unused Capacity	11,963,000,000
Principal Amount Outstanding	5,441,000,000
Verizon revolving credit facility
Debt Instrument [Line Items]
Facility Capacity	12,000,000,000		$ 12,000,000,000	$ 9,500,000,000
Unused Capacity	11,963,000,000
Principal Amount Outstanding	0
Amount drawn from credit facilities	0
Various export credit facilities
Debt Instrument [Line Items]
Facility Capacity	10,000,000,000
Unused Capacity	0
Principal Amount Outstanding	5,441,000,000
Amount drawn from credit facilities	$ 0	$ 1,000,000,000

Device Payment Plan Agreement_3

Device Payment Plan Agreement and Wireless Service Receivables - Schedule of Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable, net of allowance	$ 15,141	$ 13,173
Accounts and Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable	27,261	26,102
Less Allowance for credit losses	1,152	1,017
Accounts receivable, net	26,109	$ 25,085
Device payment plan agreement
Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable	15,839
Less Allowance for credit losses	698
Accounts receivable, net of allowance	15,141
Wireless service
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable	5,809
Less Allowance for credit losses	240
Accounts receivable, net	5,569
Other receivables
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable	5,613
Less Allowance for credit losses	214
Accounts receivable, net	$ 5,399

Device Payment Plan Agreement_4

Device Payment Plan Agreement and Wireless Service Receivables - Narrative (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables transferred to ABS Entities	$ 29,018	$ 27,297
Other receivables, net	1,200	911
Device payment plan agreement, trade-in liability	$ 9,678	8,902
Maximum threshold period for new customers	210 days
Minimum threshold period for existing customers	210 days
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
Minimum | Device payment plan agreement | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	45 days
Minimum | Device payment plan agreement | Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	12 months
Maximum | Device payment plan agreement | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	45 days
Maximum | Device payment plan agreement | Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer tenure period	12 months
Product Trade-In
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement, trade-in liability	$ 396	566
Asset Pledged as Collateral without Right
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables transferred to ABS Entities	$ 29,900	$ 26,100

Device Payment Plan Agreement_5

Device Payment Plan Agreement and Wireless Service Receivables - Schedule of Device Payment Plan Receivables, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Device payment plan agreement receivables, gross	$ 31,308	$ 29,206
Unamortized imputed interest	(975)	(758)
Device payment plan agreement receivables, at amortized cost	30,333	28,448
Allowance	(1,315)	(1,151)
Device payment plan agreement receivables, net	29,018	27,297
Accounts receivable, net	15,141	13,173
Other assets	$ 13,877	$ 14,124

Device Payment Plan Agreement_6

Device Payment Plan Agreement and Wireless Service Receivables - Schedule of Credit Quality Indicators (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Device payment plan agreement receivables, at amortized cost
Device payment plan agreement receivables, at amortized cost	$ 31,308	$ 29,206
Wireless service
Gross write-offs
Gross write-offs	557
Device payment plan agreement
Device payment plan agreement receivables, at amortized cost
2024	17,413
2023	9,617
Prior to 2021	3,303
Device payment plan agreement receivables, at amortized cost	30,333
Gross write-offs
2024	428
2023	764
2022 and prior	266
Gross write-offs	1,458
Wireless service
Device payment plan agreement receivables, at amortized cost
2024	5,760
2023	49
Device payment plan agreement receivables, at amortized cost	5,809
Gross write-offs
2024	374
2023 and prior	183
Gross write-offs	557
New customers | Device payment plan agreement
Device payment plan agreement receivables, at amortized cost
2024	3,277
2023	1,542
Prior to 2021	397
Device payment plan agreement receivables, at amortized cost	5,216
Gross write-offs
2024	376
2023	563
2022 and prior	111
Gross write-offs	1,050
Existing customers | Device payment plan agreement
Device payment plan agreement receivables, at amortized cost
2024	14,136
2023	8,075
Prior to 2021	2,906
Device payment plan agreement receivables, at amortized cost	25,117
Gross write-offs
2024	52
2023	201
2022 and prior	155
Gross write-offs	$ 408

Device Payment Plan Agreement_7

Device Payment Plan Agreement and Wireless Service Receivables - Allowance for Credit Losses (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 1,151
Ending balance	1,315
Device payment plan agreement
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,151
Current period provision for expected credit losses	1,585
Write-offs charged against the allowance	(1,458)
Recoveries collected	37
Ending balance	1,315
Wireless service
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	213
Current period provision for expected credit losses	538
Write-offs charged against the allowance	(557)
Recoveries collected	46
Ending balance	$ 240

Device Payment Plan Agreement_8

Device Payment Plan Agreement and Wireless Service Receivables - Balance and Aging of Receivables (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 31,308	$ 29,206
Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	30,333
Unbilled | Financial Asset, Not Past Due | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	28,916
Billed | Financial Asset, Not Past Due | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	1,116
Billed | Financial Asset, Past Due | Device payment plan agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 301

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets:
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, Prepaid expenses and other
Total	$ 788	$ 1,089
Liabilities:
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities, Other liabilities
Business combination, contingent consideration, liability, current		52
Total	$ 7,999	6,653
Fixed income securities
Assets:
Debt securities, available-for-sale, current	16	25
Debt securities, available-for-sale, noncurrent	269	254
Interest rate swaps
Liabilities:
Derivative liability, current	1,964	823
Derivative liability, noncurrent	3,338	3,648
Cross currency swaps
Assets:
Derivative asset, current		4
Derivative asset, noncurrent	500	758
Liabilities:
Derivative liability, current	345	294
Derivative liability, noncurrent	2,344	1,791
Foreign exchange forwards
Assets:
Derivative asset, current		4
Liabilities:
Derivative liability, current	5	1
Interest rate caps
Assets:
Derivative asset, current	3	37
Derivative asset, noncurrent		7
Liabilities:
Derivative liability, current	3	37
Derivative liability, noncurrent		7
Level 1
Assets:
Total	0	0
Liabilities:
Business combination, contingent consideration, liability, current		0
Total	0	0
Level 1 | Fixed income securities
Assets:
Debt securities, available-for-sale, current	0	0
Debt securities, available-for-sale, noncurrent	0	0
Level 1 | Interest rate swaps
Liabilities:
Derivative liability, current	0	0
Derivative liability, noncurrent	0	0
Level 1 | Cross currency swaps
Assets:
Derivative asset, current		0
Derivative asset, noncurrent	0	0
Liabilities:
Derivative liability, current	0	0
Derivative liability, noncurrent	0	0
Level 1 | Foreign exchange forwards
Assets:
Derivative asset, current		0
Liabilities:
Derivative liability, current	0	0
Level 1 | Interest rate caps
Assets:
Derivative asset, current	0	0
Derivative asset, noncurrent		0
Liabilities:
Derivative liability, current	0	0
Derivative liability, noncurrent		0
Level 2
Assets:
Total	788	1,089
Liabilities:
Business combination, contingent consideration, liability, current		0
Total	7,999	6,601
Level 2 | Fixed income securities
Assets:
Debt securities, available-for-sale, current	16	25
Debt securities, available-for-sale, noncurrent	269	254
Level 2 | Interest rate swaps
Liabilities:
Derivative liability, current	1,964	823
Derivative liability, noncurrent	3,338	3,648
Level 2 | Cross currency swaps
Assets:
Derivative asset, current		4
Derivative asset, noncurrent	500	758
Liabilities:
Derivative liability, current	345	294
Derivative liability, noncurrent	2,344	1,791
Level 2 | Foreign exchange forwards
Assets:
Derivative asset, current		4
Liabilities:
Derivative liability, current	5	1
Level 2 | Interest rate caps
Assets:
Derivative asset, current	3	37
Derivative asset, noncurrent		7
Liabilities:
Derivative liability, current	3	37
Derivative liability, noncurrent		7
Level 3
Assets:
Total	0	0
Liabilities:
Business combination, contingent consideration, liability, current		52
Total	0	52
Level 3 | Fixed income securities
Assets:
Debt securities, available-for-sale, current	0	0
Debt securities, available-for-sale, noncurrent	0	0
Level 3 | Interest rate swaps
Liabilities:
Derivative liability, current	0	0
Derivative liability, noncurrent	0	0
Level 3 | Cross currency swaps
Assets:
Derivative asset, current		0
Derivative asset, noncurrent	0	0
Liabilities:
Derivative liability, current	0	0
Derivative liability, noncurrent	0	0
Level 3 | Foreign exchange forwards
Assets:
Derivative asset, current		0
Liabilities:
Derivative liability, current	0	0
Level 3 | Interest rate caps
Assets:
Derivative asset, current	0	0
Derivative asset, noncurrent		0
Liabilities:
Derivative liability, current	$ 0	0
Derivative liability, noncurrent		$ 0

Fair Value Measurements and F_4

Fair Value Measurements and Financial Instruments - Additional Information (Detail) € in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 EUR (€)	Mar. 31, 2022 USD ($)
Derivatives, Fair Value [Line Items]
Carrying amount of our investments without readily determinable fair values		$ 724,000,000	$ 764,000,000
Cumulative adjustments due to observable price changes		186,000,000
Cumulative adjustments due to impairment charges		120,000,000
Initial value of the excluded components							$ 1,000,000,000
Hedged Liability, Statement of Financial Position [Extensible Enumeration]							Other liabilities
Derivative asset fair value of collateral		0	0
Collateral payments related to derivative contracts		2,118,000,000	1,406,000,000
Scenario, Forecast | Interest Expense
Derivatives, Fair Value [Line Items]
Excluded components	$ 94,000,000
TracFone Wireless, Inc.
Derivatives, Fair Value [Line Items]
Contingent consideration payment		$ 52,000,000	$ 257,000,000	$ 188,000,000
Euro-denominated debt | Net Investment Hedges
Derivatives, Fair Value [Line Items]
Notional amount | €					€ 750	€ 750

Fair Value Measurements and F_5

Fair Value Measurements and Financial Instruments - Fair Value of Short-term and Long-term Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	$ 81,552	$ 86,806
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	55,464	58,804
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	0	0
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	141,665	148,583
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument fair value	$ 137,016	$ 145,610

Fair Value Measurements and F_6

Fair Value Measurements and Financial Instruments - Notional Amounts of Outstanding Derivative Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Interest rate swaps
Derivative [Line Items]
Notional amount	$ 24,025	$ 26,071
Cross currency swaps
Derivative [Line Items]
Notional amount	32,053	33,526
Foreign exchange forwards
Derivative [Line Items]
Notional amount	$ 620	$ 1,050

Fair Value Measurements and F_7

Fair Value Measurements and Financial Instruments - Derivative Activity (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Interest rate swaps | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Notional value entered into	$ 0	$ 0
Notional value settled	2,046	0
Cash received (paid) for settlement of derivatives	(57)	0
Interest rate swaps | Fair Value Hedges | Interest Expense
Derivatives, Fair Value [Line Items]
Pre-tax gain recognized in Interest expense	4	1
Cross currency swaps | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Notional value entered into	2,146	0
Notional value settled	3,619	1,450
Exchange gains and losses from the conversion of foreign currency denominated as debt	(1,839)	1,119
Excluded components	730	826
Cash received (paid) for settlement of derivatives	(243)	(67)
Cross currency swaps | Fair Value Hedges | Verizon Stated And Floating Rate Notes And Bonds
Derivatives, Fair Value [Line Items]
Exchange gains and losses from the conversion of foreign currency denominated as debt	1,839	(1,119)
Cross currency swaps | Fair Value Hedges | Interest Expense
Derivatives, Fair Value [Line Items]
Excluded components	96	109
Treasury rate locks | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Notional value entered into	1,000	500
Notional value settled	1,000	500
Pre-tax gain (loss) recognized in Other comprehensive income (loss)	(21)	5
Cash received (paid) for settlement of derivatives	$ (21)	$ 5

Fair Value Measurements and F_8

Fair Value Measurements and Financial Instruments - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - Fair Value Hedges - Long-term debt - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Carrying amount of hedged liabilities	$ 18,863	$ 21,838
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities	(5,192)	(4,354)
Cumulative amount of fair value hedging adjustment remaining for which hedge accounting has been discontinued	$ 281	$ 400

Fair Value Measurements and F_9

Fair Value Measurements and Financial Instruments - Schedule of Derivatives Not Designated as Hedges (Details) - Foreign exchange forwards - Not Designated as Hedging Instrument - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Notional value entered into	$ 8,640	$ 11,175
Notional value settled	9,070	11,045
Pre-tax gain (loss) recognized in Other comprehensive income (loss)	$ (50)	$ 25

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Detail) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) installment $ / shares shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per unit (in usd per share) | $ / shares	$ 40.31	$ 37.53	$ 53.26
Payments made to settle compensation classified as liability awards	$ 508	$ 415	$ 433
Restricted Stock Units and Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to the unvested portion of RSUs and PSUs	$ 745
Weighted-average period of unrecognized compensation expense related to the unvested portion of RSUs and PSUs (in years)	2 years
Share-based compensation	$ 795	$ 533	$ 609
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award performance cycle	3 years
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for awards under the long-term incentive plan (in shares) | shares	50
2017 Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal annual installments for award vesting | installment	3

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted and Performance Stock Unit Activity (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units Equity Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance (in shares)	15,852	7,253	6,779
Granted (in shares)	11,118	13,047	4,149
Payments (in shares)	(6,439)	(3,612)	(3,313)
Cancelled/Forfeited (in shares)	(533)	(836)	(362)
Ending Balance (in shares)	19,998	15,852	7,253
Restricted Stock Units Liability Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance (in shares)	23,486	20,609	17,290
Granted (in shares)	16,172	17,441	11,309
Payments (in shares)	(12,393)	(12,198)	(6,363)
Cancelled/Forfeited (in shares)	(1,379)	(2,366)	(1,627)
Ending Balance (in shares)	25,886	23,486	20,609
Performance Stock Units Equity Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance (in shares)	12,174	13,825	8,640
Granted (in shares)		2,537	5,752
Payments (in shares)	(2,175)	(3,495)	0
Cancelled/Forfeited (in shares)	(181)	(693)	(567)
Ending Balance (in shares)	9,806	12,174	13,825
Performance Stock Units Liability Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance (in shares)	276	416	4,465
Granted (in shares)		12	197
Payments (in shares)	(71)	(121)	(2,075)
Cancelled/Forfeited (in shares)	(1)	(31)	(2,171)
Ending Balance (in shares)	158	276	416
Performance Stock Units Equity Awards, Net of Adjustments
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	(12)
Performance Stock Units Liability Awards Net of Adjustments
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	(46)

Employee Benefits - Change In B

Employee Benefits - Change In Benefit Obligations Change In Plan Assets Funded Status (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension
Change in Benefit Obligations
Beginning of year	$ 15,133	$ 15,369
Service cost	185	208	$ 246
Interest cost	479	752	544
Plan amendments	0	0
Actuarial (gain) loss, net	(1,130)	5
Benefits paid	(419)	(1,008)
Curtailment and termination benefits	6	5
Settlements paid	(725)	(198)
Annuity contracts transfer	(5,611)	0
End of year	7,918	15,133	15,369
Change in Plan Assets
Beginning of year	13,536	13,739
Actual return on plan assets	(400)	751
Company contributions	421	252
Benefits paid	(419)	(1,008)
Settlements paid	(725)	(198)
Annuity contracts transfer	5,611	0
End of year	6,802	13,536	13,739
Funded Status
Funded Status - End of year	(1,116)	(1,597)
Health Care and Life
Change in Benefit Obligations
Beginning of year	11,455	11,107
Service cost	52	54	94
Interest cost	543	545	332
Plan amendments	0	(26)
Actuarial (gain) loss, net	(533)	757
Benefits paid	(978)	(982)
Curtailment and termination benefits	0	0
Settlements paid	0	0
Annuity contracts transfer	0	0
End of year	10,539	11,455	11,107
Change in Plan Assets
Beginning of year	466	450
Actual return on plan assets	43	62
Company contributions	935	936
Benefits paid	(978)	(982)
Settlements paid	0	0
Annuity contracts transfer	0	0
End of year	466	466	$ 450
Funded Status
Funded Status - End of year	$ (10,073)	$ (10,989)

Employee Benefits - Amounts Rec

Employee Benefits - Amounts Recognized on Balance Sheet and Amounts Recognized in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Amounts recognized in the balance sheets
Non-current liabilities	$ (11,997)	$ (13,189)
Pension
Amounts recognized in the balance sheets
Current liabilities	(38)	(42)
Non-current liabilities	(1,078)	(1,555)
Total	(1,116)	(1,597)
Amounts recognized in Accumulated other comprehensive loss (pre-tax)
Prior service cost (benefit)	523	635
Total	523	635
Health Care and Life
Amounts recognized in the balance sheets
Current liabilities	(643)	(685)
Non-current liabilities	(9,430)	(10,304)
Total	(10,073)	(10,989)
Amounts recognized in Accumulated other comprehensive loss (pre-tax)
Prior service cost (benefit)	(833)	(962)
Total	$ (833)	$ (962)

Employee Benefits - Narrative (

Employee Benefits - Narrative (Detail) $ in Millions			10 Months Ended	12 Months Ended
	Mar. 06, 2024 retiree	Feb. 29, 2024 USD ($) agreement	Mar. 31, 2025 employee	Dec. 31, 2024 USD ($) plan shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation for all defined benefit pension plans				$ 7,900	$ 15,100
Defined benefit plan, number of pension authorization commitment agreements | agreement		2
Liability, defined benefit plan		$ 5,800
Defined benefit plan, benefit obligation, actuarial gain (loss) from assumptions used calculating benefit obligation, discount rate				$ 1,400	$ (503)	$ 7,000
Discount Rate					5%	5.20%	2.90%
Defined benefit plan, benefit obligation, actuarial gain (loss) from healthcare cost assumptions used calculating benefit obligation, discount rate					$ (534)
Weighted-average healthcare cost trend rate assumed for next year				8.80%	7.30%	6.60%
Defined benefit plan, reclassification adjustment from AOCI				$ 0	$ 252	$ 390
Defined benefit plan, period used to determine overall expected long term rate of return on assets assumption (in years)				10 years
Number of leveraged employee stock ownership plans (ESOP) | plan				4
Number of allocated shares of common stock in ESOP (in shares) | shares				39,000,000
Number of unallocated shares of common stock in ESOP (in shares) | shares				0
Total savings plan cost				$ 700	724	620
Severance liability charged to expense				1,494	531	319
Defined benefit plan, actuarial gain (loss), immediate recognition as component in net periodic benefit (cost) credit				657	(992)	1,700
Pension and benefit credits (charges) from actual return				(1,000)	(503)	206
Defined benefit plan, benefit obligation, actuarial gain (loss) from actuarial assumption adjustments					45	(5,500)
Scenario, Forecast
Defined Benefit Plan Disclosure [Line Items]
Restructuring and related cost, number of positions eliminated | employee			4,800
Minimum
Defined Benefit Plan Disclosure [Line Items]
Selected bonds				$ 300
Minimum | Return Seeking Assets
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets				53%
Minimum | Liability Hedging Assets
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets				41%
Maximum | Return Seeking Assets
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets				63%
Maximum | Liability Hedging Assets
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets				51%
Maximum | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets				10%
Pension
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, number of retirees receiving benefit payments from pension plan | retiree	56,000
Annuity contracts transfer				$ 5,611	0
Defined benefit plan, benefit obligation, actuarial gain (loss) from assumptions used calculating benefit obligation, discount rate				$ 764	$ (288)	4,100
Discount Rate				5.80%	5%
Defined benefit plan, benefit obligation, actuarial gain (loss) from pension annuitization		$ 200		$ 200
Defined benefit plan, benefit obligation, actuarial gain (loss) from healthcare cost assumptions used calculating benefit obligation, discount rate					$ (534)
Company contributions				421	252
Defined benefit plan, actuarial gain (loss), immediate recognition as component in net periodic benefit (cost) credit				110	(266)	(1,505)
Pension | Qualified Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions				365
Pension | Nonqualified Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions				56
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Annuity contracts transfer				0	0
Defined benefit plan, benefit obligation, actuarial gain (loss) from assumptions used calculating benefit obligation, discount rate				$ 656	$ (215)	2,900
Discount Rate				5.60%	5%
Company contributions				$ 935	$ 936
Defined benefit plan contributions by employer in next fiscal year				726
Defined benefit plan, actuarial gain (loss), immediate recognition as component in net periodic benefit (cost) credit				$ 547	$ (726)	$ 3,182
Pension and Postretirement Plan
Defined Benefit Plan Disclosure [Line Items]
Discount Rate				5.70%

Employee Benefits - Information

Employee Benefits - Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Retirement Benefits [Abstract]
Accumulated benefit obligation	$ 7,881	$ 15,086
Fair value of plan assets	6,802	13,534
Projected benefit obligation	7,918	15,133
Fair value of plan assets	$ 6,802	$ 13,536

Employee Benefits - Benefit (In

Employee Benefits - Benefit (Income) Cost Related to Pension and Postretirement Health Care and Life Insurance Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Remeasurement loss (gain), net	$ (657)	$ 992	$ (1,700)
Other components	(300)	938	(2,386)
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	185	208	246
Amortization of prior service cost (credit)	112	112	82
Expected return on plan assets	(620)	(1,013)	(1,119)
Interest cost	479	752	544
Remeasurement loss (gain), net	(110)	266	1,505
Curtailment and termination benefits	0	0	2
Other components	(139)	117	1,014
Total	46	325	1,260
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	52	54	94
Amortization of prior service cost (credit)	(129)	(419)	(530)
Expected return on plan assets	(28)	(31)	(27)
Interest cost	543	545	332
Remeasurement loss (gain), net	(547)	726	(3,182)
Curtailment and termination benefits	0	0	0
Other components	(161)	821	(3,407)
Total	(109)	875	(3,313)
Cost of services | Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	159	182	216
Cost of services | Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	44	46	79
Selling, general and administrative expense | Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	26	26	30
Selling, general and administrative expense | Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 8	$ 8	$ 15

Employee Benefits - Other Pre-t

Employee Benefits - Other Pre-tax Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Income) Loss (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension
Reversal of amortization items
Prior service cost (benefit)	$ (112)	$ (112)	$ (82)
Total recognized in Other comprehensive loss (income) (pre-tax)	(112)	(112)	(82)
Health Care and Life
Reversal of amortization items
Prior service cost (benefit)	129	419	530
Total recognized in Other comprehensive loss (income) (pre-tax)	$ 129	$ 419	$ 530

Employee Benefits - Weighted Av

Employee Benefits - Weighted Average Assumptions Used In Determining Benefit Obligations (Detail)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Discount rate		5%	5.20%	2.90%
Pension
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.80%	5%
Rate of compensation increases	3%	3%
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.60%	5%

Employee Benefits - Weighted _2

Employee Benefits - Weighted Average Assumptions Used In Determining Net Periodic Cost (Detail)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension
Defined Benefit Plan Disclosure [Line Items]
Discount rate in effect for determining service cost	5.40%	5.30%	3.80%
Discount rate in effect for determining interest cost	5.20%	5.10%	3.20%
Expected return on plan assets	7.90%	7.70%	6.70%
Rate of compensation increases	3%	3%	3%
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
Discount rate in effect for determining service cost	5.10%	5.30%	3.20%
Discount rate in effect for determining interest cost	4.90%	5.10%	2.30%
Expected return on plan assets	6.30%	7.30%	4.90%

Employee Benefits - Health Care

Employee Benefits - Health Care Cost Trend Rates (Detail)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Weighted-average healthcare cost trend rate assumed for next year	8.80%	7.30%	6.60%
Rate to which cost trend rate gradually declines	4.50%	4.50%	4.50%

Employee Benefits - Fair Values

Employee Benefits - Fair Values for Pension Plans by Asset Category (Detail) - Pension - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	$ 6,802	$ 13,536	$ 13,739
Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	4,146	9,104
Fair Value, Inputs, Level 1, 2 and 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	542	1,956
Fair Value, Inputs, Level 1, 2 and 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	12	69
Fair Value, Inputs, Level 1, 2 and 3 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	720	1,412
Fair Value, Inputs, Level 1, 2 and 3 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,129	2,994
Fair Value, Inputs, Level 1, 2 and 3 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	113	341
Fair Value, Inputs, Level 1, 2 and 3 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	82	768
Fair Value, Inputs, Level 1, 2 and 3 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	934	996
Fair Value, Inputs, Level 1, 2 and 3 | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	564	512
Fair Value, Inputs, Level 1, 2 and 3 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	50	56
Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,609	3,541
Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	530	1,771
Level 1 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	12	55
Level 1 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	527	1,274
Level 1 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	627	204
Level 1 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	3
Level 1 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	(87)	234
Level 1 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 1 | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 1 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,016	4,029
Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	12	185
Level 2 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	14
Level 2 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	193	138
Level 2 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	502	2,790
Level 2 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	113	338
Level 2 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	169	534
Level 2 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2 | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	27	30
Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	1,521	1,534	1,623
Level 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	934	996	1,002
Level 3 | Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	564	512	569
Level 3 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	23	26	$ 52
Investments measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	$ 2,656	$ 4,432

Employee Benefits - Reconciliat

Employee Benefits - Reconciliation of Beginning and Ending Balance of Pension Plan Assets Measured at Fair Value (Detail) - Pension - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	$ 13,536	$ 13,739
End of year	6,802	13,536
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	1,534	1,623
Actual gain (loss) on plan assets	(13)	(36)
Purchases (sales)	10	(20)
Transfers out	(10)	(33)
End of year	1,521	1,534
Level 3 | Equity securities
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	0
End of year	0	0
Level 3 | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	0
End of year	0	0
Level 3 | International bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	0
End of year	0	0
Level 3 | Real estate
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	996	1,002
Actual gain (loss) on plan assets	(69)	(54)
Purchases (sales)	12	48
Transfers out	(5)	0
End of year	934	996
Level 3 | Private equity
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	512	569
Actual gain (loss) on plan assets	55	14
Purchases (sales)	(1)	(67)
Transfers out	(2)	(4)
End of year	564	512
Level 3 | Hedge funds
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning of year	26	52
Actual gain (loss) on plan assets	1	4
Purchases (sales)	(1)	(1)
Transfers out	(3)	(29)
End of year	$ 23	$ 26

Employee Benefits - Fair Valu_2

Employee Benefits - Fair Values For Other Postretirement Benefit Plans By Asset Category (Detail) - Health Care and Life - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	$ 466	$ 466	$ 450
Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	463	461
Fair Value, Inputs, Level 1, 2 and 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	21	27
Fair Value, Inputs, Level 1, 2 and 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	223	229
Fair Value, Inputs, Level 1, 2 and 3 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	149	138
Fair Value, Inputs, Level 1, 2 and 3 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	45	41
Fair Value, Inputs, Level 1, 2 and 3 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	15	12
Fair Value, Inputs, Level 1, 2 and 3 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	10	14
Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	401	386
Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 1 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	223	229
Level 1 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	135	118
Level 1 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	32	29
Level 1 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	11	10
Level 1 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	62	75
Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	21	27
Level 2 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 2 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	14	20
Level 2 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	13	12
Level 2 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	4	2
Level 2 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	10	14
Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | U.S. Treasuries and agencies
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | International bonds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Level 3 | Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	0	0
Investments measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets amount	$ 3	$ 5

Employee Benefits - Expected Be

Employee Benefits - Expected Benefit Payments to Retirees (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Pension
Defined Benefit Plan Disclosure [Line Items]
2025	$ 1,024
2026	770
2027	357
2028	384
2029	412
2030 to 2034	2,448
Health Care and Life
Defined Benefit Plan Disclosure [Line Items]
2025	754
2026	795
2027	810
2028	829
2029	836
2030 to 2034	$ 4,364

Employee Benefits - Recorded Se

Employee Benefits - Recorded Severance Liability (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movements in Severance Benefits [Roll Forward]
Beginning of Year	$ 567	$ 653	$ 548
Charged to Expense	1,494	531	319
Payments	(966)	(617)	(214)
End of Year	$ 1,095	$ 567	$ 653

Taxes - Components of Income be

Taxes - Components of Income before (Provision) benefit for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ 21,253	$ 15,668	$ 26,822
Foreign	1,726	1,319	1,449
Income Before Provision For Income Taxes	$ 22,979	$ 16,987	$ 28,271

Taxes - Components of Provision

Taxes - Components of Provision (benefit) for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current
Federal	$ 3,367	$ 2,070	$ 2,411
Foreign	240	219	201
State and local	608	215	938
Total	4,215	2,504	3,550
Deferred
Federal	807	1,799	2,529
Foreign	(4)	28	(22)
State and local	12	561	466
Total	815	2,388	2,973
Total income tax provision	$ 5,030	$ 4,892	$ 6,523

Taxes - Schedule for Principal

Taxes - Schedule for Principal Reasons for Difference in Effective and Statutory Tax Rates (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amount
U.S. federal statutory tax rate	$ 4,825	$ 3,567	$ 5,937
State and local income taxes, net of federal income tax effect	566	664	1,104
Foreign tax effects	(68)	(16)	(120)
Effect of cross-border tax laws	0	18	15
Tax credits	(27)	(27)	(30)
Changes in valuation allowances	15	0	11
Nontaxable or nondeductible items
Goodwill impairment	0	1,149	0
Other	(116)	(133)	(145)
Changes in unrecognized tax benefits	40	(27)	(118)
Other adjustments
Federal refund claims	(17)	(245)	0
Other	(188)	(58)	(131)
Total income tax provision	$ 5,030	$ 4,892	$ 6,523
Percent
U.S. federal statutory tax rate	21%	21%	21%
State and local income taxes, net of federal income tax effect	2.50%	3.90%	3.90%
Foreign tax effects	(0.30%)	(0.10%)	(0.40%)
Effect of cross-border tax laws	0%	0.10%	0.10%
Tax credits	(0.10%)	(0.20%)	(0.10%)
Changes in valuation allowances	0.10%	0%	0%
Nontaxable or nondeductible items
Goodwill impairment	0%	6.80%	0%
Other	(0.50%)	(0.80%)	(0.50%)
Changes in unrecognized tax benefits	0.20%	(0.20%)	(0.40%)
Other adjustments
Federal refund claims	(0.10%)	(1.40%)	0%
Other	(0.90%)	(0.30%)	(0.50%)
Effective income tax rate	21.90%	28.80%	23.10%

Taxes - Narrative (Detail)

Taxes - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate		21.90%	28.80%	23.10%
Verizon Business Group goodwill impairment	$ 5,800	$ 0	$ 5,841	$ 0
Net tax loss and credit carry forwards (tax effected)	1,922	1,719	1,922
Net tax loss and credit carry forwards (tax effected), portion that will expire		1,100
Operating loss carry forwards amount		591
Valuation allowance, deferred tax asset, increase, amount		59
Valuation allowance	1,341	1,399	1,341
Unrecognized tax benefits, that if recognized, would favorably affect the effective income tax rate	$ 2,300	$ 2,300	$ 2,300	$ 2,500

Taxes - Schedule of Cash Taxes

Taxes - Schedule of Cash Taxes Paid (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Examination [Line Items]
Federal	$ 4,745	$ 1,447	$ 1,865
State	665	672	670
Income taxes, net of amounts refunded	5,632	2,343	2,736
Employment taxes	992	1,016	1,245
Property and other taxes	1,836	2,007	1,959
Total	8,460	5,366	5,940
Ireland
Income Tax Examination [Line Items]
Foreign	156	143	147
All other foreign
Income Tax Examination [Line Items]
Foreign	$ 66	$ 81	$ 54

Taxes - Schedule of Deferred Ta

Taxes - Schedule of Deferred Taxes (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets
Employee benefits	$ 3,676	$ 3,913
Tax loss, credit, and other carry forwards	1,719	1,922
Lease liabilities	5,138	5,480
Other - assets	1,735	1,708
Deferred tax assets, gross	12,268	13,023
Valuation allowances	(1,399)	(1,341)
Deferred tax assets	10,869	11,682
Deferred tax liabilities
Spectrum and other intangible amortization	29,302	28,535
Depreciation	20,424	20,884
Lease right-of-use assets	4,822	5,200
Other - liabilities	2,904	2,696
Deferred tax liabilities	57,452	57,315
Net deferred tax liability	$ 46,583	$ 45,633

Taxes - Reconciliation of Begin

Taxes - Reconciliation of Beginning and Ending Balance of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Balance at January 1,	$ 2,705	$ 2,812	$ 3,134
Additions based on tax positions related to the current year	91	114	123
Additions for tax positions of prior years	203	185	122
Reductions for tax positions of prior years	(229)	(154)	(419)
Settlements	(70)	(50)	(92)
Lapses of statutes of limitations	(65)	(202)	(56)
Balance at December 31,	$ 2,635	$ 2,705	$ 2,812

Taxes - Schedule of After-tax (

Taxes - Schedule of After-tax (Expenses) Benefits Related To Interest and Penalties in Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax examination, penalties and interest expense	$ 55	$ 86	$ 35

Taxes - After-tax Accrual for P

Taxes - After-tax Accrual for Payment of Interest and Penalties in Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax examination, penalties and interest accrued	$ 684	$ 630

Segment Information - Narrative

Segment Information - Narrative (Detail)	12 Months Ended
	Dec. 31, 2024 state segment
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Number of states in which wireline services are provided | state	9

Segment Information - Operating

Segment Information - Operating Financial Information for Reportable Segments (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Operating Revenues	$ 134,788	$ 133,974	$ 136,835
Depreciation and amortization expense	17,892	17,624	17,099
Total Operating Expenses	106,102	111,097	106,368
Operating Income	28,686	22,877	30,467
Service
Segment Reporting Information [Line Items]
Cost of services and wireless equipment	27,997	28,100	28,637
Wireless equipment
Segment Reporting Information [Line Items]
Operating Revenues	23,217	24,322	27,210
Cost of services and wireless equipment	26,100	26,787	30,496
Service revenues and other
Segment Reporting Information [Line Items]
Operating Revenues	111,571	109,652	109,625
Fios Revenues
Segment Reporting Information [Line Items]
Operating Revenues	12,899	12,849	12,823
Fios Revenues | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	11,647	11,614	11,622
Fios Revenues | Business
Segment Reporting Information [Line Items]
Operating Revenues	1,252	1,235	1,201
Wireless Service
Segment Reporting Information [Line Items]
Operating Revenues	79,127	76,730	74,354
Wireless Service | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	65,374	63,358	61,509
Wireless Service | Business
Segment Reporting Information [Line Items]
Operating Revenues	13,753	13,372	12,845
Operating Segments Excluding Intersegment Elimination | Service
Segment Reporting Information [Line Items]
Operating Revenues	76,880	74,874	73,139
Operating Segments Excluding Intersegment Elimination | Service | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	76,880	74,874	73,139
Operating Segments Excluding Intersegment Elimination | Service | Business
Segment Reporting Information [Line Items]
Operating Revenues	0	0	0
Operating Segments Excluding Intersegment Elimination | Wireless equipment
Segment Reporting Information [Line Items]
Operating Revenues	19,598	20,645	23,168
Operating Segments Excluding Intersegment Elimination | Wireless equipment | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	19,598	20,645	23,168
Operating Segments Excluding Intersegment Elimination | Wireless equipment | Business
Segment Reporting Information [Line Items]
Operating Revenues	0	0	0
Operating Segments Excluding Intersegment Elimination | Other
Segment Reporting Information [Line Items]
Operating Revenues	6,213	5,898	6,996
Operating Segments Excluding Intersegment Elimination | Other | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	6,213	5,898	6,996
Operating Segments Excluding Intersegment Elimination | Other | Business
Segment Reporting Information [Line Items]
Operating Revenues	0	0	0
Operating Segments Excluding Intersegment Elimination | Enterprise and Public Sector
Segment Reporting Information [Line Items]
Operating Revenues	14,218	15,076	15,692
Operating Segments Excluding Intersegment Elimination | Enterprise and Public Sector | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	0	0	0
Operating Segments Excluding Intersegment Elimination | Enterprise and Public Sector | Business
Segment Reporting Information [Line Items]
Operating Revenues	14,218	15,076	15,692
Operating Segments Excluding Intersegment Elimination | Business Markets and Other
Segment Reporting Information [Line Items]
Operating Revenues	13,081	12,697	12,753
Operating Segments Excluding Intersegment Elimination | Business Markets and Other | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	0	0	0
Operating Segments Excluding Intersegment Elimination | Business Markets and Other | Business
Segment Reporting Information [Line Items]
Operating Revenues	13,081	12,697	12,753
Operating Segments Excluding Intersegment Elimination | Wholesale
Segment Reporting Information [Line Items]
Operating Revenues	2,196	2,313	2,584
Operating Segments Excluding Intersegment Elimination | Wholesale | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	0	0	0
Operating Segments Excluding Intersegment Elimination | Wholesale | Business
Segment Reporting Information [Line Items]
Operating Revenues	2,196	2,313	2,584
Intersegment Eliminations
Segment Reporting Information [Line Items]
Operating Revenues	249	245	246
Intersegment Eliminations | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	213	209	203
Intersegment Eliminations | Business
Segment Reporting Information [Line Items]
Operating Revenues	36	36	43
Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	132,435	131,748	134,578
Centrally managed network and shared service costs	27,981	28,086	27,837
Depreciation and amortization expense	17,859	17,565	17,028
Other segment expenses	28,953	28,234	27,740
Total Operating Expenses	100,893	100,671	103,101
Operating Income	31,542	31,077	31,477
Operating Segments | Consumer
Segment Reporting Information [Line Items]
Operating Revenues	102,904	101,626	103,506
Centrally managed network and shared service costs	17,781	17,496	16,997
Depreciation and amortization expense	13,552	13,077	12,716
Other segment expenses	20,828	20,215	19,813
Total Operating Expenses	73,420	72,615	74,660
Operating Income	29,484	29,011	28,846
Operating Segments | Business
Segment Reporting Information [Line Items]
Operating Revenues	29,531	30,122	31,072
Centrally managed network and shared service costs	10,200	10,590	10,840
Depreciation and amortization expense	4,307	4,488	4,312
Other segment expenses	8,125	8,019	7,927
Total Operating Expenses	27,473	28,056	28,441
Operating Income	2,058	2,066	2,631
Operating Segments | Wireless equipment
Segment Reporting Information [Line Items]
Cost of services and wireless equipment	26,100	26,786	30,496
Operating Segments | Wireless equipment | Consumer
Segment Reporting Information [Line Items]
Cost of services and wireless equipment	21,259	21,827	25,134
Operating Segments | Wireless equipment | Business
Segment Reporting Information [Line Items]
Operating Revenues	3,600	3,700	4,000
Cost of services and wireless equipment	4,841	4,959	5,362
Operating Segments | Service revenues and other | Business
Segment Reporting Information [Line Items]
Operating Revenues	$ 25,900	$ 26,400	$ 27,000

Segment Information - Summary o

Segment Information - Summary of Reconciliation of Segment Operating Revenues (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	$ 134,788	$ 133,974	$ 136,835
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	132,435	131,748	134,578
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	2,609	2,479	2,510
Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	$ (256)	$ (253)	$ (253)

Segment Information - Reconcili

Segment Information - Reconciliation of Total Reportable Segments Operating Income to Consolidated Income before Provision for Income Taxes (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Operating Income		$ 28,686	$ 22,877	$ 30,467
Severance charges		(1,733)	(533)	(304)
Other components of net periodic pension and benefit charges		(33)	(248)	(387)
Asset and business rationalization		(374)	(480)	0
Legacy legal matter		(106)	0	0
Verizon Business Group goodwill impairment	$ (5,800)	0	(5,841)	0
Legal settlement		0	(100)	0
Business transformation costs		0	(176)	0
Non-strategic business shutdown		0	(179)	0
Equity in earnings (losses) of unconsolidated businesses		(53)	(53)	44
Other income (expense), net		995	(313)	1,373
Interest expense		(6,649)	(5,524)	(3,613)
Income Before Provision For Income Taxes		22,979	16,987	28,271
Operating Segments
Segment Reporting Information [Line Items]
Operating Income		31,542	31,077	31,477
Corporate and other
Segment Reporting Information [Line Items]
Operating Income		$ (610)	$ (643)	$ (319)

Equity and Comprehensive Inco_3

Equity and Comprehensive Income (Loss) - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Feb. 29, 2020
Class of Stock [Line Items]
Number of shares authorized to be repurchased (in shares)				100,000,000
Number of shares repurchased (in shares)	0	0	0
Remaining number of shares authorized for repurchase (in shares)	100,000,000
Common shares issued from Treasury stock (in shares)	5,400,000	4,400,000	2,100,000
Common shares issued from treasury stock	$ 238	$ 192	$ 91
Payments to acquire additional interest in subsidiaries	280
Adjustments to additional paid in capital, other	228
Noncontrolling interest, decrease from redemptions or purchase of interests	$ 52

Equity and Comprehensive Inco_4

Equity and Comprehensive Income (Loss) - Comprehensive Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	$ 93,799	$ 92,463
Other comprehensive income (loss) attributable to Verizon	457	485	$ (938)
Balance at end of year	100,575	93,799	92,463
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(1,380)	(1,865)	(927)
Other comprehensive income (loss)	(116)	70	(669)
Amounts reclassified to net income	26	(202)	102
Other comprehensive income (loss) attributable to Verizon	457	485	(938)
Balance at end of year	(923)	(1,380)	(1,865)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(636)	(698)	(545)
Other comprehensive income (loss)	(97)	62	(153)
Other comprehensive income (loss) attributable to Verizon	(97)	62	(153)
Balance at end of year	(733)	(636)	(698)
Unrealized gain (loss) on cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(1,062)	(1,150)	(1,472)
Other comprehensive income (loss)	(16)	3	(174)
Amounts reclassified to net income	97	85	496
Other comprehensive income (loss) attributable to Verizon	81	88	322
Balance at end of year	(981)	(1,062)	(1,150)
Unrealized gain (loss) on fair value hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	105	(431)	0
Other comprehensive income (loss)	547	617	(371)
Amounts reclassified to net income	(63)	(81)	(60)
Other comprehensive income (loss) attributable to Verizon	484	536	(431)
Balance at end of year	589	105	(431)
Unrealized gain (loss) on marketable securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(2)	(9)	16
Other comprehensive income (loss)	(3)	5	(25)
Amounts reclassified to net income		2
Other comprehensive income (loss) attributable to Verizon	(3)	7	(25)
Balance at end of year	(5)	(2)	(9)
Defined benefit pension and postretirement plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	215	423	1,074
Other comprehensive income (loss)			(317)
Amounts reclassified to net income	(8)	(208)	(334)
Other comprehensive income (loss) attributable to Verizon	(8)	(208)	(651)
Balance at end of year	$ 207	$ 215	$ 423

Additional Financial Informat_3

Additional Financial Information - Income Statement Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation expense	$ 15,112	$ 14,937	$ 14,592
Interest costs on debt balances	7,382	7,123	5,429
Net amortization of debt discount	230	219	214
Capitalized interest costs	(963)	(1,818)	(2,030)
Advertising expense	3,976	3,847	3,556
Other income (expense), net
Interest income	336	354	146
Other components of net periodic benefit (cost) income	300	(938)	2,386
Net debt extinguishment gains (losses)	385	308	(1,077)
Other, net	(26)	(37)	(82)
Other income (expense), net	$ 995	$ (313)	$ 1,373

Additional Financial Informat_4

Additional Financial Information - Balance Sheet Information (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Prepaid expenses and other
Prepaid taxes	$ 811	$ 550
Deferred contract costs	2,932	2,756
Collateral payments related to derivative contracts	2,118	1,406
Restricted cash	319	1,244
Other prepaid expense and other	1,793	1,651
Prepaid expenses and other	7,973	7,607
Accounts payable and accrued liabilities
Accounts payable	10,425	10,021
Accrued expenses	5,058	5,190
Accrued vacation, salaries and wages	4,436	4,060
Interest payable	1,553	1,570
Taxes payable	1,902	2,612
Total accounts payable and accrued liabilities	23,374	23,453
Other current liabilities
Dividends payable	2,878	2,821
Contract liability	7,492	6,955
Other	3,979	2,755
Total other current liabilities	$ 14,349	$ 12,531

Additional Financial Informat_5

Additional Financial Information - Narrative (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Value of purchase assets financed	$ 3,300	$ 3,800
Supplier finance program, termination notice, period	60 days
Supplier finance program, obligation, current	$ 772	$ 817
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued liabilities

Additional Financial Informat_6

Additional Financial Information - Cash Flow Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Paid
Interest, net of amounts capitalized	$ 5,505	$ 4,384	$ 3,316
Income taxes, net of amounts refunded	5,632	2,343	2,736
Other, net Cash Flows from Operating Activities
Changes in device payment plan agreement non-current receivables	(538)	(2,975)	(4,919)
Net debt extinguishment (gains) losses	(385)	(308)	1,077
Other, net	1,096	(427)	64
Other, net Cash Flows from Operating Activities	173	(3,710)	(3,778)
Other, net Cash Flows from Financing Activities
Net debt related costs	(259)	(73)	(366)
Other, net	(816)	(1,397)	(1,706)
Other, net Cash Flows from Financing Activities	$ (1,075)	$ (1,470)	$ (2,072)

Additional Financial Informat_7

Additional Financial Information - Supplier Finance Program (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Supplier Finance Program, Obligation [Roll Forward]
Confirmed obligations outstanding at the beginning of the year	$ 817
Invoices added during the year	3,549
Invoices paid during the year	(3,594)
Confirmed obligations outstanding at the end of year	$ 772

Commitments and Contingencies (

Commitments and Contingencies (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) facility court_action agreement
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Approximate number of federal district court actions alleged for patent infringement | court_action	30
Letters of credit	$ 816
Purchase commitments	16,700
Purchase commitments due in 2025	6,200
Purchase commitments due in 2026	5,500
Purchase commitments due in 2027	3,100
Purchase commitments due in 2028	1,300
Purchase commitments due in 2029	291
Purchase commitments due thereafter	$ 363
Payment Guarantee
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Number of agreements | agreement	28
Number of facilities entering into commercial operation | facility	19
Payment Guarantee | Minimum
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Guarantee obligations, year term	12 years
Payment Guarantee | Maximum
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Guarantee obligations, year term	20 years

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for credit losses deducted from accounts receivable:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 1,609	$ 1,261	$ 1,151
Charged to Expenses	2,269	2,146	1,531
Charged to Other Accounts	113	38	69
Deductions	2,222	1,836	1,490
Balance at End of Period	1,769	1,609	1,261
Allowance for credit losses deducted from accounts receivable: | Device payment plan agreement
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	592	436
Balance at End of Period	617	592	436
Valuation allowance for deferred tax assets:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	1,341	1,347	1,574
Charged to Expenses	157	68	41
Charged to Other Accounts	0	13	0
Deductions	99	87	268
Balance at End of Period	$ 1,399	$ 1,341	$ 1,347