Verizon Communications (VZ) 10-Q 24 Oct 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	30-Sep-13
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Trading Symbol	VZ
Entity Registrant Name	VERIZON COMMUNICATIONS INC
Entity Central Index Key	732712
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	2,861,750,762

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended		9 Months Ended
In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Operating Revenues	$30,279	$29,007	$89,485	$85,801
Operating Expenses
Cost of services and sales (exclusive of items shown below)	10,960	10,991	32,925	33,206
Selling, general and administrative expense	8,037	8,366	24,232	23,943
Depreciation and amortization expense	4,154	4,167	12,423	12,323
Total Operating Expenses	23,151	23,524	69,580	69,472
Operating Income	7,128	5,483	19,905	16,329
Equity in earnings of unconsolidated businesses	19	62	134	237
Other income, net	20	10	84	63
Interest expense	-555	-632	-1,606	-1,996
Income Before Provision For Income Taxes	6,612	4,923	18,517	14,633
Provision for income taxes	-1,034	-631	-2,886	-2,150
Net Income	5,578	4,292	15,631	12,483
Net income attributable to noncontrolling interests	3,346	2,699	9,201	7,379
Net income attributable to Verizon	2,232	1,593	6,430	5,104
Net Income	$5,578	$4,292	$15,631	$12,483
Basic Earnings Per Common Share
Net income attributable to Verizon	$0.78	$0.56	$2.24	$1.79
Weighted-average shares outstanding (in millions)	2,866	2,857	2,866	2,850
Diluted Earnings Per Common Share
Net income attributable to Verizon	$0.78	$0.56	$2.24	$1.79
Weighted-average shares outstanding (in millions)	2,874	2,866	2,874	2,859
Dividends declared per common share	$0.53	$0.52	$1.56	$1.51

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net Income	$5,578	$4,292	$15,631	$12,483
Other comprehensive income (loss), net of taxes
Foreign currency translation adjustments	140	103	4	12
Unrealized gain (loss) on cash flow hedges	6	-5	-12	-38
Unrealized gain (loss) on marketable securities	14	19	-1	32
Defined benefit pension and postretirement plans	-36	-7	-108	-18
Other comprehensive income (loss) attributable to Verizon	124	110	-117	-12
Other comprehensive income (loss) attributable to noncontrolling interests	4	7	-11	2
Total Comprehensive Income	5,706	4,409	15,503	12,473
Comprehensive income attributable to noncontrolling interests	3,350	2,706	9,190	7,381
Comprehensive income attributable to Verizon	2,356	1,703	6,313	5,092
Total Comprehensive Income	$5,706	$4,409	$15,503	$12,473

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Current assets
Cash and cash equivalents	$56,710	$3,093
Short-term investments	631	470
Accounts receivable, net of allowances of $670 and $641	12,111	12,576
Inventories	1,193	1,075
Prepaid expenses and other	3,060	4,021
Total current assets	73,705	21,235
Plant, property and equipment	218,336	209,575
Less accumulated depreciation	129,809	120,933
Plant, property and equipment, net	88,527	88,642
Investments in unconsolidated businesses	3,423	3,401
Wireless licenses	76,503	77,744
Goodwill	24,339	24,139
Other intangible assets, net	5,732	5,933
Other assets	4,446	4,128
Total assets	276,675	225,222
Current liabilities
Debt maturing within one year	8,202	4,369
Accounts payable and accrued liabilities	15,622	16,182
Other	6,467	6,405
Total current liabilities	30,291	26,956
Long-term debt	90,938	47,618
Employee benefit obligations	33,738	34,346
Deferred income taxes	25,821	24,677
Other liabilities	5,622	6,092
Equity
Series preferred stock ($.10 par value; none issued)
Common stock ($.10 par value; 2,967,610,119 shares issued in both periods)	297	297
Contributed capital	37,918	37,990
Accumulated deficit	-1,768	-3,734
Accumulated other comprehensive income	2,118	2,235
Common stock in treasury, at cost	-3,970	-4,071
Deferred compensation - employee stock ownership plans and other	390	440
Noncontrolling interests	55,280	52,376
Total equity	90,265	85,533
Total liabilities and equity	$276,675	$225,222

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, except Share data, unless otherwise specified
Accounts receivable, allowances	$670	$641
Series preferred stock, par value	$0.10	$0.10
Series preferred stock, issued
Common stock, par value	$0.10	$0.10
Common stock, shares issued	2,967,610,119	2,967,610,119

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash Flows from Operating Activities
Net Income	$15,631	$12,483
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	12,423	12,323
Employee retirement benefits	649	1,126
Deferred income taxes	3,011	1,665
Provision for uncollectible accounts	746	709
Equity in earnings of unconsolidated businesses, net of dividends received	-100	-197
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses	-1,078	-197
Other, net	-2,895	-3,154
Net cash provided by operating activities	28,387	24,758
Cash Flows from Investing Activities
Capital expenditures (including capitalized software)	-11,807	-11,315
Acquisitions of investments and businesses, net of cash acquired	-81	-838
Acquisitions of wireless licenses	-430	-3,816
Proceeds from dispositions of wireless licenses	2,111
Net change in short-term investments	-11	28
Other, net	195	516
Net cash used in investing activities	-10,023	-15,425
Cash Flows from Financing Activities
Proceeds from long-term borrowings	49,166
Repayments of long-term borrowings and capital lease obligations	-2,392	-2,878
Increase (decrease) in short-term obligations, excluding current maturities	-324	375
Dividends paid	-4,420	-3,887
Proceeds from sale of common stock	76	278
Purchase of common stock for treasury	-153
Special distribution to noncontrolling interest	-3,150	-4,500
Other, net	-3,550	-2,369
Net cash provided by (used in) financing activities	35,253	-12,981
Increase (decrease) in cash and cash equivalents	53,617	-3,648
Cash and cash equivalents, beginning of period	3,093	13,362
Cash and cash equivalents, end of period	$56,710	$9,714

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Basis of Presentation	1	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared based upon Securities and Exchange Commission rules that permit reduced disclosure for interim periods. For a more complete discussion of significant accounting policies and certain other information, you should refer to the financial statements included in the Verizon Communications Inc. (Verizon or the Company) Annual Report on Form 10-K for the year ended December 31, 2012. These financial statements reflect all adjustments that are necessary for a fair presentation of results of operations and financial condition for the interim periods shown including normal recurring accruals and other items. The results for the interim periods are not necessarily indicative of results for the full year. We have reclassified prior year amounts to conform to the current year presentation.
	Recently Adopted Accounting Standards
	During the first quarter of 2013, we adopted the accounting standard update regarding testing of intangible assets for impairment. This standard update allows companies the option to perform a qualitative assessment to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired. An entity is not required to calculate the fair value of an indefinite-lived intangible asset and perform the quantitative impairment test unless the entity determines that it is more likely than not the asset is impaired. The adoption of this standard update did not have an impact on our condensed consolidated financial statements.
	During the first quarter of 2013, we adopted the accounting standard update regarding reclassifications out of accumulated other comprehensive income. This standard update requires companies to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in our condensed consolidated statements of income if the amount being reclassified is required to be reclassified in its entirety to net income. For other amounts that are not required to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference to other required disclosures that provide additional detail about those amounts. See Note 8 (“Equity and Accumulated Other Comprehensive Income”) for additional details.
	During the third quarter of 2013, we adopted the accounting standard update regarding the ability to use the Federal Funds Effective Swap Rate as a United States (U.S.) benchmark interest rate for hedge accounting purposes. Previously the interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate (LIBOR) were considered to be the only benchmark interest rates. The adoption of this standard update did not have a significant impact on our condensed consolidated financial statements.
	Leasing Arrangements
	At each reporting period, we monitor the credit quality of the various lessees in our portfolios. Regarding the leveraged lease portfolio, external credit reports are used where available and where not available we use internally developed indicators. These indicators or internal credit risk grades factor historic loss experience, the value of the underlying collateral, delinquency trends, and industry and general economic conditions. The credit quality of our lessees primarily varies from AAA to CCC+. For each reporting period the leveraged leases within the portfolio are reviewed for indicators of impairment where it is probable the rent due according to the contractual terms of the lease will not be collected. All significant accounts, individually or in the aggregate, are current and none are classified as impaired.
	Earnings Per Common Share
	There were a total of approximately 8 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the three and nine months ended September 30, 2013, respectively. There were a total of approximately 9 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the three and nine months ended September 30, 2012, respectively. Outstanding options to purchase shares that were not included in the computation of diluted earnings per common share because to do so would have been anti-dilutive for the period, were not significant for the three and nine months ended September 30, 2013, and 2012, respectively.
	Recent Accounting Standards
	In July 2013, the accounting standard update relating to the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists was issued. The standard update provides that a liability related to an unrecognized tax benefit should be offset against same jurisdiction deferred tax assets for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. We will adopt this standard update during the first quarter of 2014. We are currently evaluating the impact that this standard update will have on our condensed consolidated financial statements.

Acquisitions_and_Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2013
Acquisitions and Divestitures	2	Acquisitions and Divestitures
	Wireless Transaction
	On September 2, 2013, Verizon entered into a stock purchase agreement (the Stock Purchase Agreement) with Vodafone Group Plc (Vodafone) and Vodafone 4 Limited (Seller), pursuant to which Verizon agreed to acquire Vodafone’s indirect 45% interest in Cellco Partnership d/b/a Verizon Wireless (the Partnership, and such interest, the Vodafone Interest).
	Pursuant to the terms and subject to the conditions set forth in the Stock Purchase Agreement, Verizon will acquire (the Wireless Transaction) from Seller all of the issued and outstanding capital stock (the Transferred Shares) of Vodafone Americas Finance 1 Inc., a subsidiary of Seller (VF1 Inc), which indirectly through certain subsidiaries (together with VF1 Inc, the Purchased Entities) owns the Vodafone Interest. In consideration for the Transferred Shares, Verizon has agreed to, upon completion of the Wireless Transaction, (i) pay approximately $58.89 billion in cash, (ii) issue approximately $60.15 billion of Verizon’s common stock, par value $0.10 per share (the Stock Consideration), (iii) issue senior unsecured Verizon notes in an aggregate principal amount of $5.0 billion (the Verizon Notes), (iv) transfer Verizon’s indirectly owned 23.1% interest in Vodafone Omnitel N.V. (Omnitel, and such interest, the Omnitel Interest), valued at $3.5 billion and (v) provide other consideration of approximately $2.5 billion. The exact number of shares of Verizon’s common stock to be issued in the Wireless Transaction will be determined prior to the closing of the Wireless Transaction based on the volume-weighted average trading price per share of Verizon common stock on the New York Stock Exchange during the 20 trading days ending on the third business day prior to the closing, except that the price used for this purpose will not be less than $47.00 or more than $51.00 per share. As a result of the Wireless Transaction, Verizon expects to issue a minimum of 1.18 billion shares and a maximum of 1.28 billion shares. In addition, Verizon has the right to increase the cash portion of the purchase price (and correspondingly reduce the Stock Consideration) by up to $15.0 billion in certain circumstances. All of the Stock Consideration will be issued directly or distributed to the Vodafone ordinary shareholders. The total cash expected to be paid to Vodafone and the other expected costs of the Wireless Transaction, including financing, legal and bank fees, is expected to be financed through the incurrence of third-party indebtedness (see Note 4). The Wireless Transaction is expected to close during the first quarter of 2014.
	Each of Verizon and Vodafone has made representations, warranties and covenants with respect to itself and the Wireless Transaction and, in the case of Vodafone, with respect to the Vodafone Interest and the Purchased Entities. The Stock Purchase Agreement also provides that each of Verizon and Vodafone will indemnify the other for certain losses, subject to the limits set forth therein. The closing of the Wireless Transaction is subject to the satisfaction or waiver of certain conditions, including, among others, approval by the shareholders of Verizon and Vodafone and the receipt of any required approval by the Federal Communications Commission.
	The Stock Purchase Agreement contains certain termination rights for each of Verizon and Vodafone, which if exercised give rise to termination fees or expense reimbursement obligations in specified circumstances. Verizon must pay to Vodafone a termination fee of (i) $1.55 billion in the event of termination by either party as a result of failure to obtain Verizon shareholder approval of the share issuance, (ii) $4.65 billion in the event of termination by Vodafone as a result of a change of recommendation of the Verizon Board of Directors or (iii) $10.0 billion in the event of a termination by Vodafone as a result of a financing failure as defined in the Stock Purchase Agreement. Vodafone must pay to Verizon a termination fee of $1.55 billion in the event of (i) a termination by either party as a result of failure to obtain Vodafone shareholder approval of the Vodafone sale resolutions, (ii) a termination by Verizon as a result of a change of recommendation of the Vodafone Board of Directors or (iii) a termination by Vodafone as a result of a Vodafone material adverse financial effect as defined in the Stock Purchase Agreement. If the Stock Purchase Agreement is terminated by either party for a material incurable or uncured breach, the breaching party must reimburse the terminating party’s out-of-pocket expenses, subject to a limit of $1.55 billion.
	In accordance with the accounting standard on consolidation, a change in a parent’s ownership interest while the parent retains a controlling financial interest in its subsidiary is accounted for as an equity transaction and remeasurement of assets and liabilities of previously controlled and consolidated subsidiaries is not permitted. As a result, we will account for the Wireless Transaction by adjusting the carrying amount of the noncontrolling interest to reflect the change in Verizon’s ownership interest in Verizon Wireless. Any difference between the fair value of the consideration paid and the amount by which the noncontrolling interest is adjusted will be recognized in equity attributable to Verizon.
	Omnitel Transaction
	Verizon and Vodafone have agreed to implement the transfer of the Omnitel Interest (the Omnitel Transaction) by a subsidiary of Verizon to a subsidiary of Vodafone in connection with the Wireless Transaction pursuant to a separate share purchase agreement. The completion of the Wireless Transaction is a condition to the completion of the Omnitel Transaction. However, completion of the Omnitel Transaction is not a condition to the completion of the Wireless Transaction. If the Omnitel Transaction does not close concurrently with the Wireless Transaction, Verizon has agreed to issue a note to Seller in the amount of $3.5 billion, which note will be surrendered to the Verizon subsidiary upon completion of the Omnitel Transaction in payment for the Omnitel Interest. Either party may terminate the Omnitel share purchase agreement if the Omnitel Transaction has not been consummated by the second anniversary of the completion of the Wireless Transaction. The Omnitel Note would mature upon such termination and may be settled in cash, Verizon common stock or a combination thereof, at Verizon’s election. We expect to recognize a gain on the disposal of the Omnitel interest.
	Verizon Notes
	The Stock Purchase Agreement provides that the Verizon Notes will be issued pursuant to Verizon’s existing indenture. The Verizon Notes will be issued in two separate series, with $2.5 billion due on the eighth anniversary of the closing of the Wireless Transaction and $2.5 billion due on the eleventh anniversary of the closing of the Wireless Transaction. The Verizon Notes will bear interest at a floating rate equal to three-month LIBOR, plus an agreed margin, which rate will be reset quarterly, with interest payable quarterly in arrears, beginning three months after closing of the Wireless Transaction. The indenture that will govern the Verizon Notes contains certain negative covenants, including a negative pledge covenant and a merger or similar transaction covenant, affirmative covenants and events of default that are customary for companies maintaining an investment grade credit rating. An event of default for either series of the Verizon Notes may result in acceleration of the entire principal amount of all debt securities of that series. Beginning two years after the closing of the Wireless Transaction, Verizon may redeem all or any portion of the outstanding Verizon Notes held by Vodafone or any of its affiliates for a redemption price of 100% of the principal amount plus accrued and unpaid interest. The Verizon Notes may only be transferred by Vodafone to third parties in specified amounts during specified periods, commencing January 1, 2017. The Verizon Notes held by third parties will not be redeemable. Verizon has agreed to file a registration statement with respect to the Verizon Notes at least three months prior to the Verizon Notes becoming transferable.
	Other Consideration
	Included in the other consideration to be paid to Vodafone is the indirect assumption of long-term obligations with respect to 5.143% Class D and Class E cumulative preferred stock issued by one of the Purchased Entities. Both the Class D (825,000 shares outstanding) and Class E shares (825,000 shares outstanding) are mandatorily redeemable in April 2020 at $1,000 per share plus any accrued and unpaid dividends. Dividends accrue at 5.143% per annum and will be treated as interest expense. Both the Class D and Class E shares will be classified as liability instruments and will be recorded at fair value as determined at the closing of the Wireless Transaction.
	Spectrum License Transactions
	During the first quarter of 2013, we completed license exchange transactions with T-Mobile License LLC (T-Mobile) and Cricket License Company, LLC, a subsidiary of Leap Wireless, to exchange certain Advanced Wireless Services (AWS) licenses. These non-cash exchanges include a number of intra-market swaps that will enable Verizon Wireless to make more efficient use of the AWS band. As a result of these exchanges, we received an aggregate $0.5 billion of AWS licenses at fair value and recorded an immaterial gain.
	On April 18, 2012, we announced plans to initiate an open sale process for all of our 700 MHz lower A and B block spectrum licenses, subject to the receipt of acceptable bids. We acquired these licenses as part of Federal Communications Commission (FCC) Auction 73 in 2008. On January 25, 2013, Verizon Wireless agreed to sell 39 lower 700 MHz B block spectrum licenses to AT&T Inc. (AT&T) in exchange for a payment of $1.9 billion and the transfer by AT&T to Verizon Wireless of AWS (10 MHz) licenses in certain markets in the western United States. Verizon Wireless also agreed to sell certain lower 700 MHz B block spectrum licenses to an investment firm for a payment of $0.2 billion. During the third quarter of 2013, after receiving the required regulatory approvals, Verizon Wireless completed these spectrum license transactions. As a result, we received $0.5 billion of AWS licenses at fair value and we recorded a pretax gain of approximately $0.3 billion in Selling, general and administrative expense on our condensed consolidated statements of income for the three and nine months ended September 30, 2013. We are still exploring various options regarding the 700 MHz A block licenses. We expect to deploy any licenses for which we do not enter a sale or swap transaction to meet network capacity requirements.
	Technology Innovation Joint Venture
	In August 2013, Verizon Wireless and affiliates of Comcast Corporation, Time Warner Cable and Bright House Networks (cable companies) dissolved the technology innovation joint venture they had formed in 2011 for the development of technology to better integrate wireline and wireless products and services. Verizon Wireless and the cable companies, together with cable provider Cox Communications, continue to market certain of each other’s products under the agent agreements also entered into in 2011.

Wireless_Licenses_Goodwill_and

Wireless Licenses, Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2013
Wireless Licenses, Goodwill and Other Intangible Assets	3	Wireless Licenses, Goodwill and Other Intangible Assets
	Wireless Licenses
	Changes in the carrying amount of Wireless licenses are as follows:
	(dollars in millions)
	Balance at January 1, 2013		$	77,744
	Acquisitions (Note 2)			574
	Dispositions (Note 2)			(2,338	)
	Capitalized interest on wireless licenses			419
	Reclassifications, adjustments and other			104
	Balance at September 30, 2013		$	76,503
	Reclassifications, adjustments and other includes the exchange of wireless licenses completed during the first quarter of 2013. See Note 2 for additional details.
	At September 30, 2013, approximately $7.7 billion of Wireless licenses were under development for commercial service for which we were capitalizing interest costs.
	Goodwill
	Changes in the carrying amount of Goodwill are as follows:
	(dollars in millions)		Wireless			Wireline			Total
	Balance at January 1, 2013		$	18,172		$	5,967		$	24,139
	Acquisitions			203			–			203
	Reclassifications, adjustments and other			–			(3	)		(3	)
	Balance at September 30, 2013		$	18,375		$	5,964		$	24,339
	The increase in Goodwill at September 30, 2013 was recorded by Verizon Wireless upon obtaining control of previously unconsolidated wireless partnerships, which were previously accounted for under the equity method and are now consolidated. This resulted in an immaterial gain recorded during the nine months ended September 30, 2013.
	Other Intangible Assets
	The following table displays the composition of Other intangible assets, net:
			At September 30, 2013									At December 31, 2012
	(dollars in millions)		Gross			Accumulated			Net			Gross		Accumulated			Net
			Amount			Amortization			Amount			Amount		Amortization			Amount
	Customer lists (6 to 13 years)		$	3,592		$	(2,589	)	$	1,003		$	3,556	$	(2,338	)	$	1,218
	Non-network internal-use software (3 to 7 years)			11,366			(7,015	)		4,351			10,415		(6,210	)		4,205
	Other (2 to 25 years)			736			(358	)		378			802		(292	)		510
	Total		$	15,694		$	(9,962	)	$	5,732		$	14,773	$	(8,840	)	$	5,933
	The amortization expense for Other intangible assets was as follows:
	(dollars in millions)		Three Months Ended			Nine Months Ended
			September 30,			September 30,
	2013			$                 398			$              1,183
	2012			384			1,112
	Estimated annual amortization expense for Other intangible assets is as follows:
	Years		(dollars in millions)
	2013			$    1,574
	2014			1,404
	2015			1,154
	2016			914
	2017			723

Debt

Debt	9 Months Ended
	Sep. 30, 2013
Debt	4	Debt
	Changes to debt during the nine months ended September 30, 2013 are as follows:
	(dollars in millions)		Debt Maturing			Long-term			Total
			within One Year			Debt
	Balance at January 1, 2013		$	4,369		$	47,618		$	51,987
	Proceeds from long-term borrowings			–			49,166			49,166
	Repayments of long-term borrowings and capital leases obligations			(2,142	)		(250	)		(2,392	)
	Decrease in short-term obligations, excluding current maturities			(324	)		–			(324	)
	Reclassifications of long-term debt			6,045			(6,045	)		–
	Other			254			449			703
	Balance at September 30, 2013		$	8,202		$	90,938		$	99,140
	During March 2013, we issued $0.5 billion aggregate principal amount of floating rate Notes due 2015 in a private placement resulting in cash proceeds of approximately $0.5 billion, net of discounts and issuance costs. The proceeds were used for the repayment of commercial paper.
	During April 2013, $1.25 billion of 5.25% Verizon Communications Notes matured and were repaid. During May 2013, $0.1 billion of 7.0% Verizon New York Inc. Debentures matured and were repaid. During June 2013, $0.5 billion of 4.375% Verizon Communications Notes and $0.1 billion of 7.0% Verizon New York Inc. Debentures matured and were repaid. In addition, during June 2013, we redeemed $0.25 billion of 7.15% Verizon Maryland LLC Debentures at a redemption price of 100% of the principal amount of the debentures.
	During September 2013, in connection with the Wireless Transaction, we issued $49.0 billion aggregate principal amount of fixed and floating rate notes resulting in cash proceeds of approximately $48.7 billion, net of discounts and issuance costs. The issuances consisted of the following: $2.25 billion aggregate principal amount of floating rate Notes due 2016 that bear interest at a rate equal to three-month LIBOR plus 1.53% which rate will be reset quarterly, $1.75 billion aggregate principal amount of floating rate Notes due 2018 that bear interest at a rate equal to three-month LIBOR plus 1.75% which rate will be reset quarterly, $4.25 billion aggregate principal amount of 2.50% Notes due 2016, $4.75 billion aggregate principal amount of 3.65% Notes due 2018, $4.0 billion aggregate principal amount of 4.50% Notes due 2020, $11.0 billion aggregate principal amount of 5.15% Notes due 2023, $6.0 billion aggregate principal amount of 6.40% Notes due 2033 and $15.0 billion aggregate principal amount of 6.55% Notes due 2043 (collectively, the new notes). The proceeds of the new notes will be used to finance, in part, the Wireless Transaction and to pay related fees and expenses. In the event that (i) the Wireless Transaction is not completed on or prior to September 2, 2014 or (ii) the Stock Purchase agreement is terminated on or prior to such date, we are required to redeem each series of new notes at 101% of the aggregate principal amount of such series, plus accrued and unpaid interest. As a result of the issuance of the new notes, we incurred interest expense related to the Wireless Transaction of $0.1 billion during the three and nine months ended September 30, 2013.
	During October 2013, $0.3 billion of 4.75% Verizon New England Inc. Debentures matured and were repaid.
	Term Loan Agreement
	During October 2013, we entered into a term loan agreement with a group of major financial institutions pursuant to which we may draw up to $12.0 billion to finance, in part, the Wireless Transaction and to pay transaction costs. Half of any loans under the term loan agreement will have a maturity of three years and the other half will have a maturity of five years (the 5-Year Loans). The 5-Year Loans will provide for the partial amortization of principal during the last two years that they are outstanding. Loans under the term loan agreement will bear interest at floating rates. The term loan agreement contains certain negative covenants, including a negative pledge covenant, a merger or similar transaction covenant and an accounting changes covenant, affirmative covenants and events of default that are customary for companies maintaining an investment grade credit rating. In addition, the term loan agreement requires us to maintain a leverage ratio (as defined in the term loan agreement) not in excess of 3.50:1.00, until our credit ratings reach a certain level.
	As a result of our entry into additional debt agreements to finance the Wireless Transaction, we expect to incur fees of approximately $0.7 billion, which includes fees associated with the bridge credit agreement noted below.
	Bridge Credit Agreement
	During September 2013, we entered into a $61.0 billion bridge credit agreement with a group of major financial institutions. The credit agreement provided us with the ability to borrow up to $61.0 billion to finance, in part, the Wireless Transaction and to pay related transaction costs. Following the September 2013 issuance of the notes described above, borrowing availability under the bridge credit agreement was reduced to $12.0 billion. Following the effectiveness of the term loan agreement in October 2013, as described above, the bridge credit agreement was terminated in accordance with its terms and as such, the related fees of $0.2 billion will be recognized in the fourth quarter of 2013.
	Other Credit Facilities
	On August 13, 2013, we amended our $6.2 billion credit facility with a group of major financial institutions to extend the maturity date to August 12, 2017. As of September 30, 2013, the unused borrowing capacity under this credit facility was approximately $6.1 billion.
	During October 2013, we entered into a $2.0 billion 364-day revolving credit agreement with a group of major financial institutions. Although effective as of October 2013, we may not draw on this revolving credit agreement prior to the completion of the Wireless Transaction. We may use borrowings under the 364-day credit agreement for general corporate purposes. The 364-day revolving credit agreement contains certain negative covenants, including a negative pledge covenant, a merger or similar transaction covenant and an accounting changes covenant, affirmative covenants and events of default that are customary for companies maintaining an investment grade credit rating. In addition, this agreement requires us to maintain a leverage ratio (as defined in the agreement) not in excess of 3.50:1.00, until our credit ratings reach a certain level.
	Early Debt Redemption
	During October 2013, we announced that our subsidiary, Verizon New York Inc., will redeem the entire outstanding principal amount of its $0.3 billion 6.70% Debentures due November 1, 2023. The redemption date for the securities will be November 18, 2013 (the Redemption Date). The redemption price will be equal to 100% of the principal amount of these securities, plus accrued and unpaid interest to the Redemption Date, and will be payable on the Redemption Date.
	Guarantees
	We guarantee the debentures and first mortgage bonds of our operating telephone company subsidiaries. As of September 30, 2013, $3.8 billion principal amount of these obligations remain outstanding. Each guarantee will remain in place for the life of the obligation unless terminated pursuant to its terms, including the operating telephone company no longer being a wholly-owned subsidiary of Verizon.
	We also guarantee the debt obligations of GTE Corporation that were issued and outstanding prior to July 1, 2003. As of September 30, 2013, $1.7 billion principal amount of these obligations remain outstanding.
	Debt Covenants
	We and our consolidated subsidiaries are in compliance with all of our debt covenants.

Fair_Value_Measurements

Fair Value Measurements

9 Months Ended

Sep. 30, 2013

Fair Value Measurements

5

Fair Value Measurements

The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of September 30, 2013:

(dollars in millions)

Level 1(1)

Level 2(2)

Level 3(3)

Total

Assets:

Cash and cash equivalents:

Fixed income securities

$

3,000

$

–

$

–

$

3,000

Short-term investments:

Equity securities

367

–

–

367

Fixed income securities

–

264

–

264

Other current assets:

Interest rate swaps

–

16

–

16

Other assets:

Fixed income securities

–

885

–

885

Cross currency swaps

–

142

–

142

Total

$

3,367

$

1,307

$

–

$

4,674

(1)

quoted prices in active markets for identical assets or liabilities

(2)

observable inputs other than quoted prices in active markets for identical assets and liabilities

(3)

no observable pricing inputs in the market

Equity securities consist of investments in common stock of domestic and international corporations measured using quoted prices in active markets.

Fixed income securities consist primarily of investments in U.S. Treasuries, as well as municipal bonds. We use quoted prices in active markets for our U.S. Treasury securities, and therefore these securities are classified as Level 1. For all other fixed income securities that do not have quoted prices in active markets, we use alternative matrix pricing resulting in these debt securities being classified as Level 2.

Derivative contracts are valued using models based on readily observable market parameters for all substantial terms of our derivative contracts and thus are classified within Level 2. We use mid-market pricing for fair value measurements of our derivative instruments. Our derivative instruments are recorded on a gross basis.

We recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. There were no transfers within the fair value hierarchy during the nine months ended September 30, 2013.

Fair Value of Short-term and Long-term Debt

The fair value of our debt is determined using various methods, including quoted prices for identical terms and maturities, which is a Level 1 measurement, as well as quoted prices for similar terms and maturities in inactive markets and future cash flows discounted at current rates, which are Level 2 measurements. The fair value of our short-term and long-term debt, excluding capital leases, was as follows:

At September 30, 2013

At December 31, 2012

(dollars in millions)

Carrying

Fair Value

Carrying

Fair Value

Amount

Amount

Short- and long-term debt, excluding capital leases

$

98,839

$

107,401

$

51,689

$

61,552

Derivative Instruments

We enter into derivative transactions to manage our exposure to fluctuations in foreign currency exchange rates, interest rates, and equity and commodity prices. We employ risk management strategies, which may include the use of a variety of derivatives including cross currency swaps, foreign currency and prepaid forwards and collars, interest rate swap agreements, commodity swap and forward agreements and interest rate locks. We do not hold derivatives for trading purposes.

We measure all derivatives, including derivatives embedded in other financial instruments, at fair value and recognize them as either assets or liabilities on our condensed consolidated balance sheets. Changes in the fair values of derivative instruments not qualifying as hedges or any ineffective portion of hedges are recognized in earnings in the current period. Changes in the fair values of derivative instruments used effectively as fair value hedges are recognized in earnings, along with changes in the fair value of the hedged item. Changes in the fair value of the effective portions of cash flow hedges are reported in Other comprehensive income (loss) and recognized in earnings when the hedged item is recognized in earnings.

Interest Rate Swaps

We have entered into domestic interest rate swaps to achieve a targeted mix of fixed and variable rate debt. We principally receive fixed rates and pay variable rates based on the London Interbank Offered Rate, resulting in a net increase or decrease to Interest expense. These swaps are designated as fair value hedges and hedge against changes in the fair value of our debt portfolio. We record the interest rate swaps at fair value on our condensed consolidated balance sheets as assets and liabilities. During the second quarter of 2013, interest rate swaps with a notional value of $1.25 billion matured and the impact to our condensed consolidated financial statements was not material. During the third quarter of 2013, we entered into interest rate swaps with a notional value of $1.8 billion. The fair value of these contracts was not material at September 30, 2013 and December 31, 2012, respectively. As of September 30, 2013, the total notional amount of the interest rate swaps was $1.8 billion.

Cross Currency Swaps

Verizon Wireless previously entered into cross currency swaps designated as cash flow hedges to exchange approximately $1.6 billion of British Pound Sterling and Euro-denominated debt into U.S. dollars and to fix our future interest and principal payments in U.S. dollars, as well as to mitigate the effect of foreign currency transaction gains or losses. A portion of the gains and losses recognized in Other comprehensive income (loss) was reclassified to Other income, net to offset the related pretax foreign currency transaction gain or loss on the underlying debt obligations. The fair value of the outstanding swaps was $0.1 billion at September 30, 2013 and was not material at December 31, 2012. During the three and nine months ended September 30, 2013, a pretax gain of $0.1 billion and an immaterial pretax loss, respectively, were recognized in Other comprehensive income (loss). During the three and nine months ended September 30, 2012, the pretax gains recognized in Other comprehensive income (loss) were not material.

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2013
Stock-Based Compensation	6	Stock-Based Compensation
	Verizon Communications Long-Term Incentive Plan
	The Verizon Communications Inc. Long-Term Incentive Plan (the Plan) permits the granting of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units and other awards. The maximum number of shares available for awards from the Plan is 119.6 million shares.
	Restricted Stock Units
	The Plan provides for grants of Restricted Stock Units (RSUs) that generally vest at the end of the third year after the grant. The RSUs are classified as equity awards because the RSUs will be paid in Verizon common stock upon vesting. The RSU equity awards are measured using the grant date fair value of Verizon common stock and are not remeasured at the end of each reporting period. Dividend equivalent units are also paid to participants at the time the RSU award is paid, and in the same proportion as the RSU award.
	Performance Stock Units
	The 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 Plan, the Human Resources Committee of the Board of Directors determines the number of PSUs a participant earns based on the extent to which the corresponding performance goals have been achieved over the three-year performance cycle. The PSUs are classified as liability awards because the PSU awards are paid in cash upon vesting. The PSU award liability is measured at its fair value at the end of each reporting period and, therefore, will fluctuate based on the price of Verizon common stock as well as performance relative to the targets. Dividend equivalent units are also paid to participants at the time that the PSU award is determined and paid, and in the same proportion as the PSU award.
	The following table summarizes the Restricted Stock Unit and Performance Stock Unit activity:
	(shares in thousands)		Restricted			Performance
			Stock Units			Stock Units
	Outstanding, beginning of year			18,669			39,463
	Granted			4,739			7,182
	Payments			(7,237	)		(22,703	)
	Cancelled/Forfeited			(122	)		(436	)
	Outstanding, September 30, 2013			16,049			23,506
	As of September 30, 2013, unrecognized compensation expense related to the unvested portion of outstanding RSUs and PSUs was approximately $0.5 billion and is expected to be recognized over approximately two years.
	The RSUs granted in 2013 have a weighted-average grant date fair value of $47.96 per unit.

Employee_Benefits

Employee Benefits	9 Months Ended
	Sep. 30, 2013
Employee Benefits	7	Employee Benefits
	We maintain non-contributory defined benefit pension plans for many of our employees. In addition, we maintain postretirement health care and life insurance plans for our retirees and their dependents, which are both contributory and non-contributory, and include a limit on our share of the cost for certain recent and future retirees. In accordance with our accounting policy for pension and other postretirement benefits, operating expenses include pension and benefit related credits and/or charges based on actuarial assumptions, including projected discount rates and an estimated return on plan assets. These estimates are updated in the fourth quarter to reflect actual return on plan assets and updated actuarial assumptions. The adjustment will be recognized in the income statement during the fourth quarter or upon a remeasurement event pursuant to our accounting policy for the recognition of actuarial gains and losses.
	Net Periodic Benefit Cost
	The following table summarizes the benefit (income) cost related to our pension and postretirement health care and life insurance plans:
	(dollars in millions)		Pension						Health Care and Life
	Three Months Ended September 30,		2013			2012			2013			2012
	Service cost		$	99		$	89		$	79		$	92
	Amortization of prior service cost (credit)			2			(1	)		(62	)		(8	)
	Subtotal			101			88			17			84
	Expected return on plan assets			(311	)		(442	)		(36	)		(44	)
	Interest cost			251			362			273			327
	Net periodic benefit cost		$	41		$	8		$	254		$	367
	(dollars in millions)		Pension						Health Care and Life
	Nine Months Ended September 30,		2013			2012			2013			2012
	Service cost		$	296		$	268		$	238		$	277
	Amortization of prior service cost (credit)			5			(3	)		(185	)		(26	)
	Subtotal			301			265			53			251
	Expected return on plan assets			(933	)		(1,327	)		(108	)		(129	)
	Interest cost			752			1,086			821			980
	Subtotal			120			24			766			1,102
	Remeasurement (gain) loss, net			(237	)		–			–			–
	Net periodic benefit (income) cost		$	(117	)	$	24		$	766		$	1,102
	Pension Remeasurement
	During the second quarter of 2013, we recorded net pretax pension remeasurement credits of approximately $0.2 billion, in accordance with our accounting policy to recognize actuarial gains and losses in the period in which they occur. The pension remeasurement credits relate to settlements for employees who received lump-sum distributions. The credits were primarily driven by an approximately 75 basis point increase in our discount rate assumption used to determine the current year liabilities of one of our pension plans. The change in discount rate resulted in a gain of $0.3 billion, partially offset by a loss resulting from the difference between our expected return on assets assumption of 7.5% at December 31, 2012 and our annualized actual return on assets of 7.2% at June 30, 2013, as well as other losses ($0.1 billion). Our weighted-average discount rate assumption increased from 4.2% at December 31, 2012 to 5.0% at June 30, 2013.
	During the three months ended September 30, 2013, as a result of the settlements noted above, we performed a pension remeasurement in accordance with our accounting policy to recognize actuarial gains and losses in the period in which they occur. This remeasurement was not material to our condensed consolidated statement of income for the period.
	Severance Payments
	During the three and nine months ended September 30, 2013, we paid severance benefits of $0.1 billion and $0.3 billion, respectively. At September 30, 2013, we had a remaining severance liability of $0.7 billion, a portion of which includes future contractual payments to employees separated as of September 30, 2013.
	Employer Contributions
	During the three and nine months ended September 30, 2013, we contributed $0.4 billion and $1.1 billion to our other postretirement benefit plans, respectively. The contributions to our qualified pension plans were not material during the three and nine months ended September 30, 2013. During the three and nine months ended September 30, 2013, we contributed an immaterial amount and $0.1 billion to our nonqualified pension plans, respectively. There have been no material changes to the estimated qualified and nonqualified pension contributions in 2013 as previously disclosed in Part II. Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2012.

Equity_and_Accumulated_Other_C

Equity and Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2013
Equity and Accumulated Other Comprehensive Income	8	Equity and Accumulated Other Comprehensive Income
	Equity
	Changes in the components of Total equity were as follows:
	(dollars in millions)		Attributable			Noncontrolling			Total
			to Verizon			Interests			Equity
	Balance at January 1, 2013		$	33,157		$	52,376		$	85,533
	Net income			6,430			9,201			15,631
	Other comprehensive loss			(117	)		(11	)		(128	)
	Comprehensive income			6,313			9,190			15,503
	Contributed capital			(72	)		–			(72	)
	Dividends declared			(4,464	)		–			(4,464	)
	Common stock in treasury			101			–			101
	Distributions and other			(50	)		(6,286	)		(6,336	)
	Balance at September 30, 2013		$	34,985		$	55,280		$	90,265
	Noncontrolling interests included in our condensed consolidated financial statements primarily consist of Vodafone’s 45% ownership interest in Verizon Wireless.
	Common Stock
	During the first quarter of 2013, Verizon purchased approximately 3.5 million shares under our authorized share buyback program for approximately $0.2 billion. At September 30, 2013, the maximum number of shares that could be purchased by or on behalf of Verizon under our share buyback program was 96.5 million.
	Special Distribution
	In May 2013, the Board of Representatives of Verizon Wireless declared a distribution to its owners, which was paid in the second quarter of 2013 in proportion to their partnership interests on the payment date, in the aggregate amount of $7.0 billion. As a result, Vodafone received a cash payment of $3.15 billion and the remainder of the distribution was received by Verizon.
	Accumulated Other Comprehensive Income
	The changes in the balances of Accumulated other comprehensive income by component are as follows:
	(dollars in millions)		Foreign currency			Unrealized			Unrealized			Defined benefit			Total
			translation			loss on cash			loss on			pension and
			adjustments			flow hedges			marketable			postretirement
									securities			plans
	Balance at January 1, 2013		$	793		$	88		$	101		$	1,253		$	2,235
	Other comprehensive income			4			–			12			–			16
	Amounts reclassified to net income			–			(12	)		(13	)		(108	)		(133	)
	Net other comprehensive income (loss)			4			(12	)		(1	)		(108	)		(117	)
	Balance at September 30, 2013		$	797		$	76		$	100		$	1,145		$	2,118
	The amounts presented above in net other comprehensive income (loss) are net of taxes and noncontrolling interests, which are not significant. For the nine months ended September 30, 2013, the amounts reclassified to net income related to defined benefit pension and postretirement plans in the table above are included in Cost of services and sales and Selling, general and administrative expense on our condensed consolidated statements of income. For the nine months ended September 30, 2013, all other amounts reclassified to net income in the table above are included in Other income, net on our condensed consolidated statements of income.

Segment_Information

Segment Information	9 Months Ended
	Sep. 30, 2013
Segment Information	9	Segment Information
	Reportable Segments
	We have two reportable segments, which we operate and manage as strategic business units and organize by products and services. We measure and evaluate our reportable segments based on segment operating income, consistent with the chief operating decision maker’s assessment of segment performance.
	Corporate, eliminations and other includes unallocated corporate expenses, intersegment eliminations recorded in consolidation, the results of other businesses, such as our investments in unconsolidated businesses, pension and other employee benefit related costs, lease financing, as well as other adjustments and gains and losses that are not allocated in assessing segment performance due to their non-operational nature. Although such transactions are excluded from the business segment results, they are included in reported consolidated earnings. Gains and losses that are not individually significant are included in all segment results as these items are included in the chief operating decision maker’s assessment of segment performance.
	Our segments and their principal activities consist of the following:
	Segment		Description
	Wireless		Wireless’ communications products and services include wireless voice and data services and equipment sales, which are provided to consumer, business and government customers across the United States.
	Wireline		Wireline’s voice, data and video communications products and enhanced services include local and long distance voice, broadband Internet access and video, corporate networking solutions, data center and cloud services and security and managed network services. We provide these products and services to consumers in the United States, as well as to carriers, businesses and government customers both in the United States and in over 150 other countries around the world.
	The following table provides operating financial information for our two reportable segments:
			Three Months Ended						Nine Months Ended
			September 30,						September 30,
	(dollars in millions)		2013			2012			2013			2012
	External Operating Revenues
	Wireless
	Retail service		$	16,764		$	15,523		$	49,327		$	45,610
	Other service			737			616			1,950			1,684
	Service revenue			17,501			16,139			51,277			47,294
	Equipment			1,921			1,855			5,679			5,456
	Other			952			1,008			2,866			3,057
	Total Wireless			20,374			19,002			59,822			55,807
	Wireline
	Consumer retail			3,709			3,554			10,941			10,473
	Small business			650			667			1,945			1,990
	Mass Markets			4,359			4,221			12,886			12,463
	Strategic services			2,112			2,010			6,278			5,962
	Core			1,551			1,769			4,760			5,488
	Global Enterprise			3,663			3,779			11,038			11,450
	Global Wholesale			1,412			1,512			4,320			4,666
	Other			112			120			330			373
	Total Wireline			9,546			9,632			28,574			28,952
	Total segments			29,920			28,634			88,396			84,759
	Corporate, eliminations and other			359			373			1,089			1,042
	Total consolidated – reported		$	30,279		$	29,007		$	89,485		$	85,801
	Intersegment Revenues
	Wireless		$	25		$	22		$	76		$	67
	Wireline			268			282			804			838
	Total segments			293			304			880			905
	Corporate, eliminations and other			(293)			(304)			(880)			(905	)
	Total consolidated – reported		$	–		$	–		$	–		$	–
	Total Operating Revenues
	Wireless		$	20,399		$	19,024		$	59,898		$	55,874
	Wireline			9,814			9,914			29,378			29,790
	Total segments			30,213			28,938			89,276			85,664
	Corporate, eliminations and other			66			69			209			137
	Total consolidated – reported		$	30,279		$	29,007		$	89,485		$	85,801
	Operating Income
	Wireless		$	6,886		$	6,047		$	19,768		$	16,977
	Wireline			155			41			242			386
	Total segments			7,041			6,088			20,010			17,363
	Reconciling items			87			(605)			(105)			(1,034	)
	Total consolidated – reported		$	7,128		$	5,483		$	19,905		$	16,329
	(dollars in millions)		At September 30,			At December 31,
			2013			2012
	Assets
	Wireless		$	148,328		$	142,485
	Wireline			86,593			84,815
	Total segments			234,921			227,300
	Reconciling items			41,754			(2,078	)
	Total consolidated – reported		$	276,675		$	225,222
	A reconciliation of the total of the reportable segments’ operating income to consolidated income before provision for income taxes is as follows:
			Three Months Ended						Nine Months Ended
			September 30,						September 30,
	(dollars in millions)		2013			2012			2013			2012
	Total segment operating income		$	7,041		$	6,088		$	20,010		$	17,363
Gain on spectrum license transactions (Note 2)			278			–			278			–
Pension remeasurement (Note 7)			–			–			237			–
Litigation settlements (Note 10)			–			(384	)		–			(384	)
Corporate, eliminations and other			(191	)		(221	)		(620	)		(650	)
Total consolidated operating income			7,128			5,483			19,905			16,329
Equity in earnings of unconsolidated businesses			19			62			134			237
Other income, net			20			10			84			63
Interest expense			(555	)		(632	)		(1,606	)		(1,996	)
Income Before Provision For Income Taxes		$	6,612		$	4,923		$	18,517		$	14,633
We generally account for intersegment sales of products and services and asset transfers at current market prices. No single customer accounted for more than 10% of our total operating revenues during the three and nine months ended September 30, 2013 and 2012.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies	10	Commitments and Contingencies
	In the ordinary course of business Verizon is involved in various commercial litigation and regulatory proceedings at the state and federal level. Where it is determined, in consultation with counsel based on litigation and settlement risks, that a loss is probable and estimable in a given matter, the Company establishes an accrual. In none of the currently pending matters is the amount of accrual material. An estimate of the reasonably possible loss or range of loss in excess of the amounts already accrued cannot be made at this time due to various factors typical in contested proceedings, including (1) uncertain damage theories and demands; (2) a less than complete factual record; (3) uncertainty concerning legal theories and their resolution by courts or regulators; and (4) the unpredictable nature of the opposing party and its demands. We continuously monitor these proceedings as they develop and adjust any accrual or disclosure as needed. We do not expect that the ultimate resolution of any pending regulatory or legal matter in future periods, including the Hicksville matter described below, 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.
	During 2003, under a government-approved plan, remediation commenced at the site of a former Sylvania facility in Hicksville, New York that processed nuclear fuel rods in the 1950s and 1960s. Remediation beyond original expectations proved to be necessary and a reassessment of the anticipated remediation costs was conducted. A reassessment of costs related to remediation efforts at several other former facilities was also undertaken. In September 2005, the Army Corps of Engineers (ACE) accepted the Hicksville site into the Formerly Utilized Sites Remedial Action Program. This may result in the ACE performing some or all of the remediation effort for the Hicksville site with a corresponding decrease in costs to Verizon. To the extent that the ACE assumes responsibility for remedial work at the Hicksville site, an adjustment to a reserve previously established for the remediation may be made. Adjustments to the reserve may also be made based upon actual conditions discovered during the remediation at this or any other site requiring remediation.
	Verizon is currently involved in approximately 50 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 seek injunctive relief as well. These cases have progressed to various stages and a small number may go to trial in the coming 12 months if they are not otherwise resolved. In the third quarter of 2012, we settled a number of patent litigation matters, including cases with ActiveVideo Networks Inc. (ActiveVideo) and TiVo Inc. (TiVo). In connection with the settlements with ActiveVideo and TiVo, we recorded a charge of $0.4 billion in the third quarter of 2012 and will pay and recognize over the following six years an additional $0.2 billion.
	In connection with the execution of agreements for the sales of businesses and investments, Verizon ordinarily provides representations and warranties to the purchasers pertaining to a variety of nonfinancial matters, such as ownership of the securities being sold, as well as indemnity from certain financial losses. From time to time, counterparties may make claims under these provisions, and Verizon will seek to defend against those claims and resolve them in the ordinary course of business.
	Subsequent to the sale of Verizon Information Services Canada in 2004, we continue to provide a guarantee to publish directories, which was issued when the directory business was purchased in 2001 and had a 30-year term (before extensions). The preexisting guarantee continues, without modification, despite the subsequent sale of Verizon Information Services Canada and the spin-off of our domestic print and Internet yellow pages directories business. The possible financial impact of the guarantee, which is not expected to be adverse, cannot be reasonably estimated as a variety of the potential outcomes available under the guarantee result in costs and revenues or benefits that may offset each other. We do not believe performance under the guarantee is likely.

Wireless_Licenses_Goodwill_and1

Wireless Licenses, Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2013
Changes In The Carrying Amount Of Wireless Licenses	Changes in the carrying amount of Wireless licenses are as follows:
	(dollars in millions)
	Balance at January 1, 2013	$	77,744
	Acquisitions (Note 2)		574
	Dispositions (Note 2)		(2,338	)
	Capitalized interest on wireless licenses		419
	Reclassifications, adjustments and other		104
	Balance at September 30, 2013	$	76,503
Changes In The Carrying Amount Of Goodwill	Changes in the carrying amount of Goodwill are as follows:
	(dollars in millions)	Wireless			Wireline			Total
	Balance at January 1, 2013	$	18,172		$	5,967		$	24,139
	Acquisitions		203			–			203
	Reclassifications, adjustments and other		–			(3	)		(3	)
	Balance at September 30, 2013	$	18,375		$	5,964		$	24,339
Composition of Other Intangible Assets, Net	The following table displays the composition of Other intangible assets, net:
		At September 30, 2013									At December 31, 2012
	(dollars in millions)	Gross			Accumulated			Net			Gross		Accumulated			Net
		Amount			Amortization			Amount			Amount		Amortization			Amount
	Customer lists (6 to 13 years)	$	3,592		$	(2,589	)	$	1,003		$	3,556	$	(2,338	)	$	1,218
	Non-network internal-use software (3 to 7 years)		11,366			(7,015	)		4,351			10,415		(6,210	)		4,205
	Other (2 to 25 years)		736			(358	)		378			802		(292	)		510
	Total	$	15,694		$	(9,962	)	$	5,732		$	14,773	$	(8,840	)	$	5,933
Amortization Expense for Other Intangible Assets	The amortization expense for Other intangible assets was as follows:
	(dollars in millions)	Three Months Ended			Nine Months Ended
		September 30,			September 30,
	2013		$                 398			$              1,183
	2012		384			1,112
Estimated Annual Amortization Expense for Other Intangible Assets	Estimated annual amortization expense for Other intangible assets is as follows:
	Years	(dollars in millions)
	2013		$    1,574
	2014		1,404
	2015		1,154
	2016		914
	2017		723

Debt_Tables

Debt (Tables)	9 Months Ended
	Sep. 30, 2013
Combined Schedule of Current and Noncurrent Debt and Capital Lease Obligations	Changes to debt during the nine months ended September 30, 2013 are as follows:
	(dollars in millions)	Debt Maturing			Long-term			Total
		within One Year			Debt
	Balance at January 1, 2013	$	4,369		$	47,618		$	51,987
	Proceeds from long-term borrowings		–			49,166			49,166
	Repayments of long-term borrowings and capital leases obligations		(2,142	)		(250	)		(2,392	)
	Decrease in short-term obligations, excluding current maturities		(324	)		–			(324	)
	Reclassifications of long-term debt		6,045			(6,045	)		–
	Other		254			449			703
	Balance at September 30, 2013	$	8,202		$	90,938		$	99,140

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of September 30, 2013:
	(dollars in millions)		Level 1(1)				Level 2(2)				Level 3(3)		Total
	Assets:
	Cash and cash equivalents:
	Fixed income securities		$	3,000			$	–			$	–	$	3,000
	Short-term investments:
	Equity securities			367				–				–		367
	Fixed income securities			–				264				–		264
	Other current assets:
	Interest rate swaps			–				16				–		16
	Other assets:
	Fixed income securities			–				885				–		885
	Cross currency swaps			–				142				–		142
	Total		$	3,367			$	1,307			$	–	$	4,674
	(1)	quoted prices in active markets for identical assets or liabilities
	(2)	observable inputs other than quoted prices in active markets for identical assets and liabilities
	(3)	no observable pricing inputs in the market
Schedule of Fair Value of Short-Term and Long-Term Debt, Excluding Capital Leases	The fair value of our short-term and long-term debt, excluding capital leases, was as follows:
			At September 30, 2013						At December 31, 2012
	(dollars in millions)		Carrying		Fair Value				Carrying		Fair Value
			Amount						Amount
	Short- and long-term debt, excluding capital leases		$	98,839	$	107,401			$	51,689	$	61,552

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2013
Schedule of Restricted and Performance Stock Unit Activity	The following table summarizes the Restricted Stock Unit and Performance Stock Unit activity:
	(shares in thousands)	Restricted			Performance
		Stock Units			Stock Units
	Outstanding, beginning of year		18,669			39,463
	Granted		4,739			7,182
	Payments		(7,237	)		(22,703	)
	Cancelled/Forfeited		(122	)		(436	)
	Outstanding, September 30, 2013		16,049			23,506

Employee_Benefits_Tables

Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2013
Benefit or (Income) Cost Related to Pension and Postretirement Health Care and Life Insurance	The following table summarizes the benefit (income) cost related to our pension and postretirement health care and life insurance plans:
	(dollars in millions)	Pension						Health Care and Life
	Three Months Ended September 30,	2013			2012			2013			2012
	Service cost	$	99		$	89		$	79		$	92
	Amortization of prior service cost (credit)		2			(1	)		(62	)		(8	)
	Subtotal		101			88			17			84
	Expected return on plan assets		(311	)		(442	)		(36	)		(44	)
	Interest cost		251			362			273			327
	Net periodic benefit cost	$	41		$	8		$	254		$	367
	(dollars in millions)	Pension						Health Care and Life
	Nine Months Ended September 30,	2013			2012			2013			2012
	Service cost	$	296		$	268		$	238		$	277
	Amortization of prior service cost (credit)		5			(3	)		(185	)		(26	)
	Subtotal		301			265			53			251
	Expected return on plan assets		(933	)		(1,327	)		(108	)		(129	)
	Interest cost		752			1,086			821			980
	Subtotal		120			24			766			1,102
	Remeasurement (gain) loss, net		(237	)		–			–			–
	Net periodic benefit (income) cost	$	(117	)	$	24		$	766		$	1,102

Equity_and_Accumulated_Other_C1

Equity and Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2013
Schedule Of Changes In Components Of Total Equity	Changes in the components of Total equity were as follows:
	(dollars in millions)	Attributable			Noncontrolling			Total
		to Verizon			Interests			Equity
	Balance at January 1, 2013	$	33,157		$	52,376		$	85,533
	Net income		6,430			9,201			15,631
	Other comprehensive loss		(117	)		(11	)		(128	)
	Comprehensive income		6,313			9,190			15,503
	Contributed capital		(72	)		–			(72	)
	Dividends declared		(4,464	)		–			(4,464	)
	Common stock in treasury		101			–			101
	Distributions and other		(50	)		(6,286	)		(6,336	)
	Balance at September 30, 2013	$	34,985		$	55,280		$	90,265
Schedule Of Components In Accumulated Other Comprehensive Income	The changes in the balances of Accumulated other comprehensive income by component are as follows:
	(dollars in millions)	Foreign currency			Unrealized			Unrealized			Defined benefit			Total
		translation			loss on cash			loss on			pension and
		adjustments			flow hedges			marketable			postretirement
								securities			plans
	Balance at January 1, 2013	$	793		$	88		$	101		$	1,253		$	2,235
	Other comprehensive income		4			–			12			–			16
	Amounts reclassified to net income		–			(12	)		(13	)		(108	)		(133	)
	Net other comprehensive income (loss)		4			(12	)		(1	)		(108	)		(117	)
	Balance at September 30, 2013	$	797		$	76		$	100		$	1,145		$	2,118

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2013
Summary of Operating Financial Information for Reportable Segments	The following table provides operating financial information for our two reportable segments:
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(dollars in millions)	2013			2012			2013			2012
	External Operating Revenues
	Wireless
	Retail service	$	16,764		$	15,523		$	49,327		$	45,610
	Other service		737			616			1,950			1,684
	Service revenue		17,501			16,139			51,277			47,294
	Equipment		1,921			1,855			5,679			5,456
	Other		952			1,008			2,866			3,057
	Total Wireless		20,374			19,002			59,822			55,807
	Wireline
	Consumer retail		3,709			3,554			10,941			10,473
	Small business		650			667			1,945			1,990
	Mass Markets		4,359			4,221			12,886			12,463
	Strategic services		2,112			2,010			6,278			5,962
	Core		1,551			1,769			4,760			5,488
	Global Enterprise		3,663			3,779			11,038			11,450
	Global Wholesale		1,412			1,512			4,320			4,666
	Other		112			120			330			373
	Total Wireline		9,546			9,632			28,574			28,952
	Total segments		29,920			28,634			88,396			84,759
	Corporate, eliminations and other		359			373			1,089			1,042
	Total consolidated – reported	$	30,279		$	29,007		$	89,485		$	85,801
	Intersegment Revenues
	Wireless	$	25		$	22		$	76		$	67
	Wireline		268			282			804			838
	Total segments		293			304			880			905
	Corporate, eliminations and other		(293)			(304)			(880)			(905	)
	Total consolidated – reported	$	–		$	–		$	–		$	–
	Total Operating Revenues
	Wireless	$	20,399		$	19,024		$	59,898		$	55,874
	Wireline		9,814			9,914			29,378			29,790
	Total segments		30,213			28,938			89,276			85,664
	Corporate, eliminations and other		66			69			209			137
	Total consolidated – reported	$	30,279		$	29,007		$	89,485		$	85,801
	Operating Income
	Wireless	$	6,886		$	6,047		$	19,768		$	16,977
	Wireline		155			41			242			386
	Total segments		7,041			6,088			20,010			17,363
	Reconciling items		87			(605)			(105)			(1,034	)
	Total consolidated – reported	$	7,128		$	5,483		$	19,905		$	16,329
Summary of Reconciliation of Segment Assets
	(dollars in millions)	At September 30,			At December 31,
		2013			2012
	Assets
	Wireless	$	148,328		$	142,485
	Wireline		86,593			84,815
	Total segments		234,921			227,300
	Reconciling items		41,754			(2,078	)
	Total consolidated – reported	$	276,675		$	225,222
Summary of Reconciliation of Segment Operating Income	A reconciliation of the total of the reportable segments’ operating income to consolidated income before provision for income taxes is as follows:
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(dollars in millions)	2013			2012			2013			2012
	Total segment operating income	$	7,041		$	6,088		$	20,010		$	17,363
	Gain on spectrum license transactions (Note 2)		278			–			278			–
	Pension remeasurement (Note 7)		–			–			237			–
	Litigation settlements (Note 10)		–			(384	)		–			(384	)
	Corporate, eliminations and other		(191	)		(221	)		(620	)		(650	)
	Total consolidated operating income		7,128			5,483			19,905			16,329
	Equity in earnings of unconsolidated businesses		19			62			134			237
	Other income, net		20			10			84			63
	Interest expense		(555	)		(632	)		(1,606	)		(1,996	)
	Income Before Provision For Income Taxes	$	6,612		$	4,923		$	18,517		$	14,633

Basis_of_Presentation_Addition

Basis of Presentation - Additional Information (Detail)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Organization And Summary Of Significant Accounting Policies [Line Items]
Restricted stock units outstanding to purchase shares included in diluted earnings per common share	8	9	8	9

Acquisitions_and_Divestitures_

Acquisitions and Divestitures - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 02, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Reimbursement fee maximum by breaching party for material breach

Verizon Notes

Vodafone Omnitel N.V.

Stock Purchase Agreement

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

AT&T Spectrum License Transaction Amount Received Upon Closing

Investment Firm Spectrum License Transaction Amount Received Upon Closing

ATT and Investment Firm License Transactions

ATT and Investment Firm License Transactions

5.143% Class D Cumulative Preferred Stock

5.143% Class E Cumulative Preferred Stock

Minimum

Maximum

Termination Fee by Verizon as Result of Failure to Obtain Verizon Shareholder Approval of Share Issuance

Termination Fee by Verizon as Result of Change of Recommendation of Verizon Board of Directors

Termination Fee by Verizon as Result of Financing Failure

Termination Fee by Vodafone for Events Related to Vodafone

Verizon Notes Due Eighth Anniversary

Verizon Notes Due Eleventh Anniversary

Business Acquisition [Line Items]

Percentage of noncontrolling interest by Vodafone Group Plc in Cellco Partnership joint venture

45.00%

45.00%

45.00%

Cash expected to be paid to complete the Wireless Transaction

$58,890,000,000

Aggregate value of common shares to be issued to Vodafone shareholders

60,150,000,000

Common stock, par value

$0.10

$0.10

$0.10

$0.10

Aggregate principal amount

500,000,000

5,000,000,000

3,500,000,000

2,500,000,000

2,500,000,000

Verizon's ownership interest in Vodafone Omnitel

23.10%

Selling price (fair value) of Verizon's equity method investment in Vodafone Omnitel

3,500,000,000

Other consideration to be paid to Vodafone

2,500,000,000

Number of trading days used to calculate the volume-weighted average trading price per share of Verizon common stock (subject to a collar), which will determine the number of shares to be issued as part of the Wireless Transaction

20 days

Common Stock issued price

$47

$51

Common stock expected to be issued, shares

1,180,000,000

1,280,000,000

Potential increase in cash portion of purchase price and reduction of stock consideration

15,000,000,000

Potential payment of termination fees if certain circumstances arise

1,550,000,000

1,550,000,000

4,650,000,000

10,000,000,000

1,550,000,000

Redemption price of notes percentage

100.00%

101.00%

Preferred stock shares outstanding

825,000

825,000

Preferred stock redemption date

2020-04

Preferred stock redemption price, per share

$1,000

Preferred stock dividend rate, percentage

5.14%

Acquisitions

500,000,000

License purchase and exchange transactions, net cash proceeds

2,111,000,000

1,900,000,000

200,000,000

Gain on sale of licenses

$278,000,000

$278,000,000

$300,000,000

$300,000,000

Changes_in_Carrying_Amount_of_

Changes in Carrying Amount of Wireless Licenses (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013
In Millions, unless otherwise specified			Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Balance at January 1, 2013	$76,503	$77,744	$77,744
Acquisitions (Note 2)			574
Dispositions (Note 2)			-2,338
Capitalized interest on wireless licenses			419
Reclassifications, adjustments and other			104
Balance at September 30, 2013	$76,503	$77,744	$76,503

Wireless_Licenses_Goodwill_and2

Wireless Licenses Goodwill and Other Intangible Assets - Additional Information (Detail) (Wireless Licenses, USD $)	Sep. 30, 2013
In Billions, unless otherwise specified
Wireless Licenses
Wireless Licenses, Goodwill and Other Intangible Assets [Line Items]
Wireless licenses under development	$7.70

Changes_in_Carrying_Amount_of_1

Changes in Carrying Amount of Goodwill (Detail) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
Wireless Licenses, Goodwill and Other Intangible Assets [Line Items]
Balance at January 1, 2013	$24,139
Acquisitions	203
Reclassifications, adjustments and other	-3
Balance at September 30, 2013	24,339
Wireless
Wireless Licenses, Goodwill and Other Intangible Assets [Line Items]
Balance at January 1, 2013	18,172
Acquisitions	203
Balance at September 30, 2013	18,375
Wireline
Wireless Licenses, Goodwill and Other Intangible Assets [Line Items]
Balance at January 1, 2013	5,967
Reclassifications, adjustments and other	-3
Balance at September 30, 2013	$5,964

Composition_of_Other_Intangibl

Composition of Other Intangible Assets Net (Detail) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

In Millions, unless otherwise specified

Customer Lists (6 to 13 years)

Customer Lists (6 to 13 years)

Customer Lists (6 to 13 years)

Customer Lists (6 to 13 years)

Non-Network Internal-Use Software (3 To 7 Years)

Non-Network Internal-Use Software (3 To 7 Years)

Non-Network Internal-Use Software (3 To 7 Years)

Non-Network Internal-Use Software (3 To 7 Years)

Other (2 To 25 Years)

Other (2 To 25 Years)

Other (2 To 25 Years)

Other (2 To 25 Years)

Minimum

Maximum

Minimum

Maximum

Minimum

Maximum

Finite-Lived Intangible Assets [Line Items]

Gross Amount

$15,694

$14,773

$3,592

$3,556

$11,366

$10,415

$736

$802

Accumulated Amortization

-9,962

-8,840

-2,589

-2,338

-7,015

-6,210

-358

-292

Net Amount

$5,732

$5,933

$1,003

$1,218

$4,351

$4,205

$378

$510

Useful life for finite-lived intangible assets, years

6 years

13 years

3 years

7 years

2 years

25 years

Amortization_Expense_for_Other

Amortization Expense for Other Intangible Assets (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Finite-Lived Intangible Assets [Line Items]
Amortization expense for other intangible assets	$398	$384	$1,183	$1,112

Estimated_Annual_Amortization_

Estimated Annual Amortization Expense for Other Intangible Assets (Detail) (USD $)	Sep. 30, 2013
In Millions, unless otherwise specified
Wireless Licenses, Goodwill and Other Intangible Assets [Line Items]
2013	$1,574
2014	1,404
2015	1,154
2016	914
2017	$723

Changes_to_Debt_Detail

Changes to Debt (Detail) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Debt Instrument [Line Items]
Debt maturing within one year, Balance at January 1, 2013	$4,369
Long-term debt, Balance at January 1, 2013	47,618
Total, Balance at January 1, 2013	51,987
Proceeds from long-term borrowings	49,166
Repayments of long-term borrowings and capital leases obligations	-2,392	-2,878
Decrease in short-term obligations, excluding current maturities	-324	375
Other	703
Debt maturing within one year, Balance at September 30, 2013	8,202
Long-term debt, Balance at September 30, 2013	90,938
Total, Balance at September 30, 2013	99,140
Long-term Debt
Debt Instrument [Line Items]
Long-term debt, Balance at January 1, 2013	47,618
Proceeds from long-term borrowings	49,166
Repayments of long-term borrowings and capital leases obligations	-250
Reclassifications of long-term debt	-6,045
Other	449
Long-term debt, Balance at September 30, 2013	90,938
Debt Maturing Within One Year
Debt Instrument [Line Items]
Debt maturing within one year, Balance at January 1, 2013	4,369
Repayments of long-term borrowings and capital leases obligations	-2,142
Decrease in short-term obligations, excluding current maturities	-324
Reclassifications of long-term debt	6,045
Other	254
Debt maturing within one year, Balance at September 30, 2013	$8,202

Debt_Additional_Information_De

Debt - Additional Information (Detail) (USD $)

1 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

1 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

Mar. 31, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Oct. 24, 2013

Oct. 24, 2013

Sep. 30, 2013

Sep. 30, 2013

Jun. 30, 2013

Apr. 30, 2013

Jun. 30, 2013

31-May-13

Oct. 24, 2013

Jun. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Oct. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Oct. 24, 2013

Oct. 24, 2013

Oct. 24, 2013

Sep. 30, 2013

Sep. 30, 2013

Bridge Loan

Subsequent Event

Subsequent Event

Verizon Wireless

Verizon Wireless

Verizon Communications Notes

Verizon Communications Notes

Verizon New York Inc Debentures

Verizon New York Inc Debentures

Verizon New York Inc Debentures

Verizon Maryland LLC Debentures

Guarantee Of Debentures And First Mortgage Bonds Of Operating Telephone Company Subsidiaries

Guarantee of Debt Obligations of GTE Corporation

October 31, 2013 Verizon New England Inc. Debentures

Fixed and Floating Rate Notes Issued Related to Wireless Transaction

Floating Rate Notes Due 2016

Floating Rate Notes Due 2018

Notes Due 2016

Notes Due 2018

Notes Due 2020

Notes Due 2023

Notes Due 2033

Notes Due 2043

Fixed and Floating Rate Verizon Notes from Noncontrolling Interest Purchase Transaction

Fixed and Floating Rate Verizon Notes from Noncontrolling Interest Purchase Transaction

Term Loan Agreement

Term Loan Agreement Maturity 3 Years

Term Loan Agreement Maturity 5 Years

Reduction in Debt Borrowing Capacity

Four Year Credit Facility

364-Day Revolving Credit Agreement

364-Day Revolving Credit Agreement

Term Loan and Bridge Loan

Subsequent Event

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Verizon Wireless

Subsequent Event

Subsequent Event

Subsequent Event

Bridge Loan

Maximum

Debt Instrument [Line Items]

Aggregate principal amount

$500,000,000

$49,000,000,000

$2,250,000,000

$1,750,000,000

$4,250,000,000

$4,750,000,000

$4,000,000,000

$11,000,000,000

$6,000,000,000

$15,000,000,000

Debt instrument maturity date

2015

2016

2018

2016

2018

2020

2023

2033

2043

Cash proceeds from issuance of debt, net of discounts and issuance costs

500,000,000

48,700,000,000

Amount of notes repaid

500,000,000

1,250,000,000

100,000,000

100,000,000

300,000,000

250,000,000

300,000,000

Stated interest rate on debt instrument

4.38%

5.25%

7.00%

7.00%

6.70%

7.15%

4.75%

1.53%

1.75%

2.50%

3.65%

4.50%

5.15%

6.40%

6.55%

Redemption price of notes percentage

101.00%

100.00%

100.00%

Debt instrument, description of variable rate basis

LIBOR plus 1.53%

LIBOR plus 1.75%

Debt instrument maturity date

2-Sep-14

1-Nov-23

Interest expense on debt related to the Wireless Transaction

100,000,000

100,000,000

Borrowing capacity of term loan agreement

12,000,000,000

6,200,000,000

Debt instrument maturity period

3 years

5 years

Leverage ratio

3.5

3.5

Transaction fees associated with additional debt agreement

700,000,000

Amount of borrowing capacity under bridge credit agreement

61,000,000,000

12,000,000,000

Related fees for termination of bridge credit agreement

200,000,000

Credit facility, maturity date

12-Aug-17

Amount of unused borrowing capacity on four-year credit facility

6,100,000,000

Amount of borrowing under revolving credit agreement

2,000,000,000

Principal amount outstanding in connection with the guarantee of debt obligations

$99,140,000,000

$51,987,000,000

$3,800,000,000

$1,700,000,000

Schedule_of_Assets_and_Liabili

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (Fair Value, Measurements, Recurring, USD $)	Sep. 30, 2013
In Millions, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	$4,674
Cash and Cash Equivalents | Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	3,000
Short-term Investments | Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	264
Short-term Investments | Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	367
Other Current Assets | Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	16
Other Assets | Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	885
Other Assets | Cross Currency Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	142
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	3,367	[1]
Level 1 | Cash and Cash Equivalents | Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	3,000	[1]
Level 1 | Short-term Investments | Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	367	[1]
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	1,307	[2]
Level 2 | Short-term Investments | Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	264	[2]
Level 2 | Other Current Assets | Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	16	[2]
Level 2 | Other Assets | Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	885	[2]
Level 2 | Other Assets | Cross Currency Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	$142	[2]
[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

Fair_Value_of_Short_Term_and_L

Fair Value of Short Term and Long Term Debt Excluding Capital Leases (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short- and long-term debt	$99,140	$51,987
Carrying Amount, Fair Value Disclosure | Excluding Capital Leases
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short- and long-term debt	98,839	51,689
Fair Value, Fair Value Disclosure | Excluding Capital Leases
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short- and long-term debt	$107,401	$61,552

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
In Billions, unless otherwise specified	Interest Rate Swaps	Interest Rate Swaps	Cross Currency Swaps	Cross Currency Swaps
Derivatives, Fair Value [Line Items]
Notional amount of interest rate swaps	$1.80	$1.25
Proceeds from other debt				1.6
Fair value of cross currency swaps			0.1	0.1
Pre-tax gain (loss) recognized in other comprehensive income			$0.10

Stock_Based_Compensation_Addit

Stock Based Compensation - Additional Information (Detail) (USD $)	9 Months Ended
In Billions, except Share data in Millions, unless otherwise specified	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for awards under the Long-Term Incentive Plan	119.6
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 Verizon's RSUs and PSUs	$0.50
Weighted-average period of unrecognized compensation expense related to the unvested portion of Verizon's RSUs and PSUs (in years)	2 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per unit	$47.96

Restricted_and_Performance_Sto

Restricted and Performance Stock Unit Activity (Detail)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning of year	18,669
Granted	4,739
Payments	-7,237
Cancelled/Forfeited	-122
Outstanding September 30, 2013	16,049
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning of year	39,463
Granted	7,182
Payments	-22,703
Cancelled/Forfeited	-436
Outstanding September 30, 2013	23,506

Benefit_or_Income_Cost_Related

Benefit or Income Cost Related to Pension and Postretirement Health Care and Life Insurance Plans (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Defined Benefit Plan Disclosure [Line Items]
Remeasurement (gain) loss, net			($237)
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	296	268	99	89
Amortization of prior service cost (credit)	5	-3	2	-1
Subtotal	301	265	101	88
Expected return on plan assets	-933	-1,327	-311	-442
Interest cost	752	1,086	251	362
Subtotal	120	24
Remeasurement (gain) loss, net	-237
Net periodic benefit (income) cost	-117	24	41	8
Health Care And Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	238	277	79	92
Amortization of prior service cost (credit)	-185	-26	-62	-8
Subtotal	53	251	17	84
Expected return on plan assets	-108	-129	-36	-44
Interest cost	821	980	273	327
Subtotal	766	1,102
Net periodic benefit (income) cost	$766	$1,102	$254	$367

Employee_Benefits_Additional_I

Employee Benefits - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended	12 Months Ended		3 Months Ended		3 Months Ended			9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Jun. 30, 2013	Jun. 30, 2013	Dec. 31, 2012	Jun. 30, 2013	Jun. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
					Pension Remeasurement Credit	Pension Remeasurement Credit	Pension Remeasurement Gain Primarily Driven By Increase In Discount Rate Assumption	Pension Charges Driven By Difference Between Expected Return on Assets and Annualized Actual Return On Assets And Other	Other Postretirement Benefit Plans	Other Postretirement Benefit Plans	Non Qualified Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Pension remeasurement credit (charges)		$237,000,000			$200,000,000		$300,000,000	($100,000,000)
Discount rate basis point increase (decrease)					75
Discount rate				5.00%		4.20%
Expected return on plan assets			7.50%
Actual return on assets					7.20%
Amount paid in severance benefits over the period	100,000,000	300,000,000
Post employment benefits liability	700,000,000	700,000,000
Defined benefit plan contributions by employer									$400,000,000	$1,100,000,000	$100,000,000

Changes_in_Components_of_Total

Changes in Components of Total equity (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Equity Note [Line Items]
Balance at January 1, 2013			$85,533
Net Income	5,578	4,292	15,631	12,483
Other comprehensive loss			-128
Total Comprehensive Income	5,706	4,409	15,503	12,473
Contributed capital			-72
Dividends declared			-4,464
Common stock in treasury			101
Distributions and other			-6,336
Balance at September 30, 2013	90,265		90,265
Noncontrolling Interests
Equity Note [Line Items]
Balance at January 1, 2013			52,376
Net Income			9,201
Other comprehensive loss			-11
Total Comprehensive Income			9,190
Distributions and other			-6,286
Balance at September 30, 2013	55,280		55,280
Verizon
Equity Note [Line Items]
Balance at January 1, 2013			33,157
Net Income			6,430
Other comprehensive loss			-117
Total Comprehensive Income			6,313
Contributed capital			-72
Dividends declared			-4,464
Common stock in treasury			101
Distributions and other			-50
Balance at September 30, 2013	$34,985		$34,985

Equity_and_Accumulated_Other_C2

Equity and Accumulated Other Comprehensive Income - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended		3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2013	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013	Jun. 30, 2013
				Verizon Wireless	Verizon Wireless
					Paid by Verizon Wireless to Vodafone Group Plc
Equity and Comprehensive Income [Line Items]
Percentage of noncontrolling interest by Vodafone Group Plc in Verizon Wireless joint venture		45.00%
Authorized share buyback program, number of shares repurchased	3.5
Purchase of common stock for treasury	$200	$153
Authorized share buyback program, maximum number of shares to be repurchased		96.5
Dividends payable, date declared				2013-05
Distribution to partners		$3,150	$4,500	$7,000	$3,150

Changes_in_Balances_of_Accumul

Changes in Balances of Accumulated Other Comprehensive Income by Component (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2013			$2,235
Other comprehensive income			16
Amounts reclassified to net income			-133
Other comprehensive income (loss) attributable to Verizon	124	110	-117	-12
Balance at September 30, 2013	2,118		2,118
Foreign currency translation adjustments
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2013			793
Other comprehensive income			4
Other comprehensive income (loss) attributable to Verizon			4
Balance at September 30, 2013	797		797
Unrealized loss on cash flow hedges
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2013			88
Amounts reclassified to net income			-12
Other comprehensive income (loss) attributable to Verizon			-12
Balance at September 30, 2013	76		76
Unrealized loss on marketable securities
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2013			101
Other comprehensive income			12
Amounts reclassified to net income			-13
Other comprehensive income (loss) attributable to Verizon			-1
Balance at September 30, 2013	100		100
Defined benefit pension and postretirement plans
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2013			1,253
Amounts reclassified to net income			-108
Other comprehensive income (loss) attributable to Verizon			-108
Balance at September 30, 2013	$1,145		$1,145

Segment_Information_Additional

Segment Information - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
			Segment
Segment Reporting Information [Line Items]
Number of reportable segments			2
Number of customers individually accounting for more than ten percent of total operating revenues	No single customer accounted for more than 10% of our total operating revenues	No single customer accounted for more than 10% of our total operating revenues	No single customer accounted for more than 10% of our total operating revenues	No single customer accounted for more than 10% of our total operating revenues
Percentage maximum accounted for	10.00%	10.00%	10.00%	10.00%
Wireline
Segment Reporting Information [Line Items]
Number of countries outside the United States of America to which our Wireline segment provides products and services	150		150

Operating_Financial_Informatio

Operating Financial Information for Reportable Segments (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Segment Reporting Information [Line Items]
Operating Revenues	$30,279	$29,007	$89,485	$85,801
Operating income	7,128	5,483	19,905	16,329
Wireless
Segment Reporting Information [Line Items]
Operating Revenues	20,399	19,024	59,898	55,874
Operating income	6,886	6,047	19,768	16,977
Wireline
Segment Reporting Information [Line Items]
Operating Revenues	9,814	9,914	29,378	29,790
Operating income	155	41	242	386
Total Segments
Segment Reporting Information [Line Items]
Operating Revenues	30,213	28,938	89,276	85,664
Operating income	7,041	6,088	20,010	17,363
Corporate, Eliminations and Other
Segment Reporting Information [Line Items]
Operating Revenues	66	69	209	137
Operating income	-191	-221	-620	-650
Reconciling Items
Segment Reporting Information [Line Items]
Operating income	87	-605	-105	-1,034
External Operating Revenues
Segment Reporting Information [Line Items]
Operating Revenues	30,279	29,007	89,485	85,801
External Operating Revenues | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	20,374	19,002	59,822	55,807
External Operating Revenues | Wireless | Service Revenue Retail Service
Segment Reporting Information [Line Items]
Operating Revenues	16,764	15,523	49,327	45,610
External Operating Revenues | Wireless | Service Revenue Other Service
Segment Reporting Information [Line Items]
Operating Revenues	737	616	1,950	1,684
External Operating Revenues | Wireless | Service Revenue
Segment Reporting Information [Line Items]
Operating Revenues	17,501	16,139	51,277	47,294
External Operating Revenues | Wireless | Equipment
Segment Reporting Information [Line Items]
Operating Revenues	1,921	1,855	5,679	5,456
External Operating Revenues | Wireless | Other
Segment Reporting Information [Line Items]
Operating Revenues	952	1,008	2,866	3,057
External Operating Revenues | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	9,546	9,632	28,574	28,952
External Operating Revenues | Wireline | Mass Markets Consumer Retail
Segment Reporting Information [Line Items]
Operating Revenues	3,709	3,554	10,941	10,473
External Operating Revenues | Wireline | Mass Markets Small Business
Segment Reporting Information [Line Items]
Operating Revenues	650	667	1,945	1,990
External Operating Revenues | Wireline | Mass Markets
Segment Reporting Information [Line Items]
Operating Revenues	4,359	4,221	12,886	12,463
External Operating Revenues | Wireline | Global Enterprise Strategic Services
Segment Reporting Information [Line Items]
Operating Revenues	2,112	2,010	6,278	5,962
External Operating Revenues | Wireline | Global Enterprise Core
Segment Reporting Information [Line Items]
Operating Revenues	1,551	1,769	4,760	5,488
External Operating Revenues | Wireline | Global Enterprise
Segment Reporting Information [Line Items]
Operating Revenues	3,663	3,779	11,038	11,450
External Operating Revenues | Wireline | Global Wholesale
Segment Reporting Information [Line Items]
Operating Revenues	1,412	1,512	4,320	4,666
External Operating Revenues | Wireline | Other
Segment Reporting Information [Line Items]
Operating Revenues	112	120	330	373
External Operating Revenues | Total Segments
Segment Reporting Information [Line Items]
Operating Revenues	29,920	28,634	88,396	84,759
External Operating Revenues | Corporate, Eliminations and Other
Segment Reporting Information [Line Items]
Operating Revenues	359	373	1,089	1,042
Intersegment Revenues | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	25	22	76	67
Intersegment Revenues | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	268	282	804	838
Intersegment Revenues | Total Segments
Segment Reporting Information [Line Items]
Operating Revenues	293	304	880	905
Intersegment Revenues | Corporate, Eliminations and Other
Segment Reporting Information [Line Items]
Operating Revenues	($293)	($304)	($880)	($905)

Summary_of_Reconciliation_of_S

Summary of Reconciliation of Segment Assets (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Segment Reporting Information [Line Items]
Assets	$276,675	$225,222
Verizon Wireless
Segment Reporting Information [Line Items]
Assets	148,328	142,485
Wireline
Segment Reporting Information [Line Items]
Assets	86,593	84,815
Total Segments
Segment Reporting Information [Line Items]
Assets	234,921	227,300
Reconciling Items
Segment Reporting Information [Line Items]
Assets	$41,754	($2,078)

Reconciliation_of_Total_Report

Reconciliation of Total Reportable Segments Operating Income to Consolidated Income before Provision for Income Taxes (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Segment Reporting Information [Line Items]
Gain on spectrum license transactions (Note 2)	$278		$278
Pension remeasurement (Note 7)			237
Litigation settlements (Note 10)		-384		-384
Operating income	7,128	5,483	19,905	16,329
Equity in earnings of unconsolidated businesses	19	62	134	237
Other income, net	20	10	84	63
Interest expense	-555	-632	-1,606	-1,996
Income Before Provision For Income Taxes	6,612	4,923	18,517	14,633
Corporate, Eliminations and Other
Segment Reporting Information [Line Items]
Operating income	-191	-221	-620	-650
Total Segments
Segment Reporting Information [Line Items]
Operating income	$7,041	$6,088	$20,010	$17,363

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Loss Contingencies [Line Items]
Approximate number of federal district court actions alleged for patent infringement			50
Payments for Legal Settlements		$384,000,000		$384,000,000
Litigation settlements, payment period	6 years
Future payments for Legal Settlements		$200,000,000		$200,000,000
Guarantee obligations, year term (in years)			30