Verizon Communications (VZ) 10-Q 3 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2017shares
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	VZ
Entity Registrant Name	VERIZON COMMUNICATIONS INC
Entity Central Index Key	732,712
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	4,079,407,956

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Operating Revenues
Service revenues and other	$ 26,250	$ 26,828	$ 52,300	$ 55,045
Wireless equipment revenues	4,298	3,704	8,062	7,658
Total Operating Revenues	30,548	30,532	60,362	62,703
Operating Expenses
Cost of services (exclusive of items shown below)	7,075	7,577	13,933	15,191
Wireless cost of equipment	5,035	4,644	9,843	9,642
Selling, general and administrative expense (including net gain on sale of divested businesses of $1,774 and $1,007 for the three and six months ended June 30, 2017 and 2016, respectively)	6,039	9,775	12,947	17,375
Depreciation and amortization expense	4,167	3,982	8,226	7,999
Total Operating Expenses	22,316	25,978	44,949	50,207
Operating Income	8,232	4,554	15,413	12,496
Equity in losses of unconsolidated businesses	(28)	(20)	(49)	(40)
Other expense, net	(19)	(1,826)	(865)	(1,794)
Interest expense	(1,218)	(1,013)	(2,350)	(2,201)
Income Before Provision For Income Taxes	6,967	1,695	12,149	8,461
Provision for income taxes	(2,489)	(864)	(4,118)	(3,200)
Net Income	4,478	831	8,031	5,261
Net income attributable to noncontrolling interests	116	129	219	249
Net income attributable to Verizon	$ 4,362	$ 702	$ 7,812	$ 5,012
Basic Earnings Per Common Share
Net income attributable to Verizon	$ 1.07	$ 0.17	$ 1.91	$ 1.23
Weighted-average shares outstanding (in millions)	4,082	4,079	4,082	4,080
Diluted Earnings Per Common Share
Net income attributable to Verizon	$ 1.07	$ 0.17	$ 1.91	$ 1.23
Weighted-average shares outstanding (in millions)	4,087	4,085	4,088	4,085
Dividends declared per common share	$ 0.578	$ 0.565	$ 1.155	$ 1.130

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net gain on sale of divested business	$ 1,774	$ 1,007	$ 1,774	$ 1,007

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net income	$ 4,478	$ 831	$ 8,031	$ 5,261
Other Comprehensive Income (loss), net of taxes
Foreign currency translation adjustments	17	25	88	55
Unrealized loss on cash flow hedges	(186)	(147)	(198)	(205)
Unrealized (loss) gain on marketable securities	(20)	2	(6)	(16)
Defined benefit pension and postretirement plans	(136)	2,508	(273)	2,463
Other comprehensive income (loss) attributable to Verizon	(325)	2,388	(389)	2,297
Total Comprehensive Income	4,153	3,219	7,642	7,558
Comprehensive income attributable to noncontrolling interests	116	129	219	249
Comprehensive income attributable to Verizon	$ 4,037	$ 3,090	$ 7,423	$ 7,309

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 4,583	$ 2,880
Accounts receivable, net of allowances of $918 and $845	19,771	17,513
Inventories	1,116	1,202
Assets held for sale		882
Prepaid expenses and other	3,353	3,918
Total current assets	28,823	26,395
Plant, property and equipment	239,226	232,215
Less accumulated depreciation	152,705	147,464
Plant, property and equipment, net	86,521	84,751
Investments in unconsolidated businesses	1,075	1,110
Wireless licenses	88,004	86,673
Goodwill	28,527	27,205
Other intangible assets, net	11,143	8,897
Non-current assets held for sale	90	613
Other assets	8,795	8,536
Total assets	252,978	244,180
Current liabilities
Debt maturing within one year	1,153	2,645
Accounts payable and accrued liabilities	17,825	19,593
Other	8,780	8,102
Total current liabilities	27,758	30,340
Long-term debt	116,390	105,433
Employee benefit obligations	21,775	26,166
Deferred income taxes	47,506	45,964
Other liabilities	12,788	12,245
Equity
Series preferred stock ($.10 par value; none issued)
Common stock ($.10 par value; 4,242,374,240 shares issued in each period)	424	424
Contributed capital	11,099	11,182
Reinvested earnings	18,159	15,059
Accumulated other comprehensive income	2,284	2,673
Common stock in treasury, at cost	(7,142)	(7,263)
Deferred compensation - employee stock ownership plans and other	365	449
Noncontrolling interests	1,572	1,508
Total equity	26,761	24,032
Total liabilities and equity	$ 252,978	$ 244,180

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Accounts receivable, allowances	$ 918	$ 845
Series preferred stock, par value	$ 0.10	$ 0.10
Series preferred stock, issued	0	0
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares issued	4,242,374,240	4,242,374,240

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities
Net income	$ 8,031	$ 5,261
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	8,226	7,999
Employee retirement benefits	(223)	4,021
Deferred income taxes	1,880	(3,085)
Provision for uncollectible accounts	632	651
Equity in losses of unconsolidated businesses, net of dividends received	67	58
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses	(3,094)	(1,067)
Discretionary contributions to qualified pension plans	(3,411)
Net gain on sale of divested businesses	(1,774)	(1,007)
Other, net	(416)	77
Net cash provided by operating activities	9,918	12,908
Cash Flows from Investing Activities
Capital expenditures (including capitalized software)	(7,011)	(7,273)
Acquisitions of businesses, net of cash acquired	(6,280)	(178)
Acquisitions of wireless licenses	(315)	(282)
Proceeds from dispositions of businesses	3,512	9,882
Other, net	211	504
Net cash provided by (used in) investing activities	(9,883)	2,653
Cash Flows from Financing Activities
Proceeds from long-term borrowings	16,009
Proceeds from asset-backed long-term borrowings	2,878
Repayments of long-term borrowings and capital lease obligations	(10,294)	(11,300)
Increase (decrease) in short-term obligations, excluding current maturities	(152)	610
Dividends paid	(4,710)	(4,605)
Other, net	(2,063)	(1,879)
Net cash provided by (used in) financing activities	1,668	(17,174)
Increase (decrease) in cash and cash equivalents	1,703	(1,613)
Cash and cash equivalents, beginning of period	2,880	4,470
Cash and cash equivalents, end of period	$ 4,583	$ 2,857

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared based upon Securities and Exchange Commission (SEC) 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 Earnings Per Common Share There were a total of approximately 5 million and 6 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the three and six months ended June 30, 2017, respectively. There were a total of approximately 6 million and 5 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the three and six months ended June 30, 2016, respectively. Recently Adopted Accounting Standards In January 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-04, In March 2016, the FASB issued ASU 2016-09, Recently Issued Accounting Standards In March 2017, the FASB issued ASU 2017-07, In February 2017, the FASB issued ASU 2017-05, 610-20): In January 2017, the FASB issued ASU 2017-01, In November 2016, the FASB issued ASU 2016-18, In August 2016, the FASB issued ASU 2016-15, In June 2016, the FASB issued ASU 2016-13, In February 2016, the FASB issued ASU 2016-02, In May 2014, the FASB issued ASU 2014-09, We are in the process of evaluating the impact of the standard update. The ultimate impact on revenue resulting from the application of the new standard will be subject to assessments that are dependent on many variables, including, but not limited to, the terms of our contractual arrangements and our mix of business. Upon adoption, we expect that the allocation of revenue between equipment and service for our wireless fixed-term service plans will result in more revenue allocated to equipment and recognized earlier as compared with current GAAP. We expect the timing of recognition of our sales commission expenses will also be impacted, as a substantial portion of these costs, which are currently expensed, will be capitalized and amortized as described above. In 2016, total sales commission expenses were approximately $4.2 billion. In 2017, we expect total sales commission expenses to decline as our wireless customers continue to migrate from our fixed-term service plans to device payment plans which have lower commission structures. We have established a cross-functional coordinated implementation team to implement the standard update related to the recognition of revenue from contracts with customers. We have identified and are in the process of implementing changes to our systems, processes and internal controls to meet the standard update’s reporting and disclosure requirements.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2017
Acquisitions and Divestitures	2. Acquisitions and Divestitures Wireless Spectrum License Transactions During the fourth quarter of 2016, we entered into a license exchange agreement with affiliates of AT&T Inc. to exchange certain Advanced Wireless Services (AWS) and Personal Communication Services (PCS) spectrum licenses. This non-cash pre-tax During the first quarter of 2017, we entered into a license exchange agreement with affiliates of Sprint Corporation, which provides for the exchange of certain PCS spectrum licenses. This non-cash During the three and six months ended June 30, 2017, we acquired, for cash consideration, various other wireless licenses that were insignificant. Straight Path On May 11, 2017, we entered into an agreement (the Purchase Agreement) to acquire Straight Path Communications Inc. (Straight Path), a holder of millimeter wave spectrum configured for 5G wireless services. Under the terms of the Purchase Agreement, we agreed to acquire Straight Path for $184.00 per share, reflecting an enterprise value of approximately $3.1 billion. The acquisition is subject to customary regulatory approvals and closing conditions, and is expected to close by the end of the first quarter of 2018. Wireline XO Holdings In February 2016, we entered into a purchase agreement to acquire XO Holdings’ wireline business (XO), which owns and operates one of the largest fiber-based Internet Protocol (IP) and Ethernet networks. Concurrently, we entered into a separate agreement to lease certain wireless spectrum from a wholly-owned subsidiary of XO Holdings that holds its wireless spectrum, which included an option, exercisable upon the closing of the XO transaction, to buy the subsidiary. In February 2017, we completed our acquisition of XO for total cash consideration of approximately $1.8 billion, of which $0.1 billion was paid in 2015. In April 2017, we exercised our option to buy the subsidiary for approximately $0.2 billion, subject to certain adjustments. The transaction is subject to customary regulatory approvals and is expected to close by the end of 2017. Upon closing, the spectrum acquired as part of the transaction will be utilized by the Wireless segment. The condensed consolidated financial statements include the results of XO’s operations from the date the acquisition closed. If the acquisition of XO had been completed as of January 1, 2016, the results of operations of Verizon would not have been significantly different than our previously reported results of operations. The acquisition of XO was accounted for as a business combination. Since the business combination and the lease agreement with the purchase option were entered into contemporaneously, the total cash consideration of $1.8 billion has been preliminarily allocated between them on a relative fair value basis. The preliminary allocation of the purchase price for the business combination will be finalized within 12 months following the close of the acquisition. Upon closing, we preliminarily recorded approximately $0.4 billion of goodwill, and $0.2 billion of other intangibles. Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired. The goodwill recorded as a result of the XO transaction represents future economic benefits we expect to achieve as a result of the acquisition. The goodwill related to this acquisition is included within our Wireline segment (see Note 3 for additional information). Data Center Sale On December 6, 2016, we entered into a definitive agreement, which was subsequently amended on March 21, 2017, with Equinix, Inc. pursuant to which we agreed to sell 23 customer-facing data center sites in the United States and Latin America, for approximately $3.6 billion, subject to certain adjustments (Data Center Sale). The sale did not affect Verizon’s data center services delivered from 27 sites in Europe, Asia-Pacific and Canada, or its managed hosting and cloud offerings. The transaction closed on May 1, 2017. For the three and six months ended June 30, 2017, these businesses generated revenues of an insignificant amount and $0.1 billion, respectively, and operating income of an insignificant amount and $0.1 billion, respectively, for Verizon. For the three and six months ended June 30, 2016, these businesses generated revenues of $0.1 billion and $0.2 billion, respectively, and operating income of $0.1 billion and $0.1 billion, respectively. As a result of the closing of the transaction, we derecognized assets with a carrying value of $1.4 billion, primarily consisting of goodwill, plant, property and equipment and other intangible assets. The liabilities associated with the sale were insignificant. In connection with the Data Center Sale and other insignificant transactions, we recorded a net gain on sale of divested businesses of approximately $1.8 billion in Selling, general and administrative expense on our condensed consolidated statements of income for the three and six months ended June 30, 2017. Other Acquisition of Yahoo! Inc.’s Operating Business On July 23, 2016, Verizon entered into a stock purchase agreement (the Purchase Agreement) with Yahoo! Inc. (Yahoo). Pursuant to the Purchase Agreement, upon the terms and subject to the conditions thereof, we agreed to acquire the stock of one or more subsidiaries of Yahoo holding all of Yahoo’s operating business, for approximately $4.83 billion in cash, subject to certain adjustments (the Transaction). On February 20, 2017, Verizon and Yahoo entered into an amendment to the Purchase Agreement, pursuant to which the Transaction purchase price was reduced by $350 million to approximately $4.48 billion in cash, subject to certain adjustments. Subject to certain exceptions, the parties also agreed that certain user security and data breaches incurred by Yahoo (and the losses arising therefrom) were to be disregarded (1) for purposes of specified conditions to Verizon’s obligations to close the Transaction and (2) in determining whether a “Business Material Adverse Effect” under the Purchase Agreement has occurred. Concurrently with the amendment of the Purchase Agreement, Yahoo and Yahoo Holdings, Inc., a wholly owned subsidiary of Yahoo that Verizon agreed to purchase pursuant to the Transaction, also entered into an amendment to the related reorganization agreement, pursuant to which Yahoo (which changed its name to Altaba Inc. following the closing of the Transaction) retains 50% of certain post-closing liabilities arising out of governmental or third party investigations, litigations or other claims related to certain user security and data breaches incurred by Yahoo. In accordance with the original Transaction agreements, Yahoo will continue to retain 100% of any liabilities arising out of any shareholder lawsuits (including derivative claims) and investigations and actions by the SEC. Prior to the closing of the Transaction, pursuant to a related reorganization agreement, Yahoo transferred all of the assets and liabilities constituting Yahoo’s operating business to the subsidiaries that we acquired in the Transaction. The assets that we acquired did not include Yahoo’s cash, its ownership interests in Alibaba, Yahoo! Japan and certain other investments, certain undeveloped land recently divested by Yahoo or certain non-core non-exclusive, On June 13, 2017, we completed the Transaction. As a result, Yahoo Holdings, Inc. became a wholly-owned subsidiary of Verizon. The aggregate purchase consideration at the closing of the Transaction was approximately $4.8 billion. Verizon has combined Yahoo’s operating business with its existing Media business to create a newly branded organization, Oath, a diverse house of more than 50 media and technology brands that engages approximately a billion people around the world. We believe that the Transaction represents a critical step in growing the global scale needed for our digital media company and building the future of brands using powerful technology, trusted content and differentiated data. The acquisition of Yahoo’s operating business has been accounted for as a business combination. We are currently assessing the identification and measurement of the assets acquired and liabilities assumed. The preliminary results, which are summarized below, will be finalized within 12 months following the close of the acquisition. The preliminary results do not include any amount for potential liability arising from certain user security and data breaches since a reasonable estimate of loss, if any, cannot be determined at this time. We will continue to evaluate the accounting for these contingencies in conjunction with finalizing our accounting for this business combination and thereafter. The fair values of the assets acquired and liabilities assumed were determined using the income, cost, market and multiple period excess earnings approaches. The fair value measurements were primarily based on significant inputs that are not observable in the market and thus represent a Level 3 measurement as defined in ASC 820, Fair Value Measurement, other than long-term debt assumed in the acquisition. The income approach was primarily used to value the intangible assets, consisting primarily of acquired technology and customer relationships. The income approach indicates value for an asset based on the present value of cash flow projected to be generated by the asset. Projected cash flow is discounted at a required rate of return that reflects the relative risk of achieving the cash flow and the time value of money. The cost approach, which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility, was used, as appropriate, for plant, property and equipment. The cost to replace a given asset reflects the estimated reproduction or replacement cost for the property, less an allowance for loss in value due to depreciation. The following table summarizes the consideration to Yahoo’s shareholders and the preliminary identification of the assets acquired, including cash acquired of $0.2 billion, and liabilities assumed as of the close of the acquisition, as well as the fair value at the acquisition date of Yahoo’s noncontrolling interests: (dollars in millions) As of June 13, 2017 Cash payment to Yahoo’s equity holders $ 4,723 Estimated liabilities to be paid 38 Total consideration $ 4,761 Assets acquired: Goodwill $ 874 Intangible assets subject to amortization 2,586 Property, plant, and equipment 1,796 Other 1,362 Total assets acquired 6,618 Liabilities assumed: Total liabilities assumed 1,824 Net assets acquired: 4,794 Noncontrolling interest (33 ) Total consideration $ 4,761 On the closing date of the Transaction, each unvested and outstanding Yahoo restricted stock unit award that was held by an employee who became an employee of Verizon was replaced with a Verizon restricted stock unit award, which is generally payable in cash upon the applicable vesting date. The value of those outstanding restricted stock units on the acquisition date was approximately $1.0 billion. Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired. The goodwill is primarily attributable to increased synergies that are expected to be achieved from the integration of Yahoo’s operating business into our Media business. The preliminary goodwill related to this acquisition is included within Corporate and other (see Note 3 for additional information). The condensed consolidated financial statements include the results of Yahoo’s operating business from the date the acquisition closed. If the acquisition of Yahoo’s operating business had been completed as of January 1, 2016, the results of operations of Verizon would not have been significantly different than our previously reported results of operations. During the three and six months ended June 30, 2017, the operating revenues and net income of Yahoo’s operating business included in our condensed consolidated statements of income were insignificant. Acquisition and Integration Related Charges In connection with the Yahoo Transaction, we recognized the following charges, which were recorded in Selling, general and administrative expense on our condensed consolidated statements of income: Three Months Ended Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Severance $ 370 $ - $ 370 $ - Transaction costs 66 - 66 - Integration costs 56 - 56 - $ 492 $ - $ 492 $ -

Wireless Licenses, Goodwill and

Wireless Licenses, Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2017
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, 2017 $ 86,673 Acquisitions (Note 2) 76 Capitalized interest on wireless licenses 239 Reclassifications, adjustments and other 1,016 Balance at June 30, 2017 $ 88,004 Reclassifications, adjustments and other includes $1.0 billion received in exchanges of wireless licenses during the six months ended June 30, 2017. At June 30, 2017, approximately $10.0 billion of wireless licenses were under development for commercial service for which we were capitalizing interest costs. The average remaining renewal period for our wireless licenses portfolio was 5.6 years as of June 30, 2017. Goodwill Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Wireless Wireline Other Total Balance at January 1, 2017 $ 18,393 $ 3,784 $ 5,028 $ 27,205 Acquisitions (Note 2) 5 432 887 1,324 Reclassifications, adjustments and other - (5 ) 3 (2 ) Balance at June 30, 2017 $ 18,398 $ 4,211 $ 5,918 $ 28,527 At June 30, 2017, we recognized preliminary goodwill of $0.9 billion in Corporate and other as a result of the acquisition of Yahoo’s operating business. At June 30, 2017, we recognized preliminary goodwill of $0.4 billion in Wireline as a result of the acquisition of XO. See Note 2 for additional information. Other Intangible Assets The following table displays the composition of Other intangible assets, net: At June 30, 2017 At December 31, 2016 (dollars in millions) Gross Accumulated Net Amount Gross Accumulated Net Customer lists (8 to 13 years) $ 4,014 $ (529 ) $ 3,485 $ 2,884 $ (480 ) $ 2,404 Non-network internal-use 17,249 (11,525 ) 5,724 16,135 (10,913 ) 5,222 Other (5 to 25 years) 2,602 (668 ) 1,934 1,854 (583 ) 1,271 Total $ 23,865 $ (12,722 ) $ 11,143 $ 20,873 $ (11,976 ) $ 8,897 At June 30, 2017, we recognized preliminary other intangible assets of $2.6 billion in Corporate and other as a result of the acquisition of Yahoo’s operating business. At June 30, 2017, we recognized preliminary other intangible assets of $0.2 billion (primarily customer lists) in Wireline as a result of the acquisition of XO. See Note 2 for additional information. The amortization expense for Other intangible assets was as follows: (dollars in millions) Three Months Ended June 30, Six Months Ended June 30, 2017 $ 485 $ 937 2016 401 836 The estimated future amortization expense for Other intangible assets is as follows: Years (dollars in millions) Remainder of 2017 $ 1,393 2018 1,891 2019 1,656 2020 1,406 2021 1,222

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt	4. Debt Changes to debt during the six months ended June 30, 2017 are as follows: (dollars in millions) Debt Maturing Long-term Total Balance at January 1, 2017 $ 2,645 $ 105,433 $ 108,078 Proceeds from long-term borrowings 65 15,944 16,009 Proceeds from asset-backed long-term borrowings - 2,878 2,878 Repayments of long-term borrowings and capital leases obligations (3,158 ) (7,136 ) (10,294 ) Decrease in short-term obligations, excluding current maturities (152 ) - (152 ) Reclassifications of long-term debt 1,569 (1,569 ) - Debt acquired (Note 2) 7 52 59 Other 177 788 965 Balance at June 30, 2017 $ 1,153 $ 116,390 $ 117,543 January Exchange Offers and Cash Offers On January 25, 2017, we commenced eighteen separate private offers to exchange (the January Exchange Offers) specified series of outstanding Notes issued by Verizon Communications (the Old Notes) for new Notes to be issued by Verizon Communications and, for certain series, cash. In connection with the January Exchange Offers, which expired on January 31, 2017 and settled on February 3, 2017, we issued $3.2 billion aggregate principal amount of Verizon Communications 2.946% Notes due 2022 (the 2022 New Notes), $1.7 billion aggregate principal amount of Verizon Communications 4.812% Notes due 2039 (the 2039 New Notes) and $4.1 billion aggregate principal amount of Verizon Communications 5.012% Notes due 2049 (the 2049 New Notes) plus applicable cash of $0.6 billion (not including accrued and unpaid interest on the Old Notes) in exchange for $8.3 billion aggregate principal amount of tendered Old Notes. We concurrently commenced eighteen separate offers to purchase for cash (the January Cash Offers) the Old Notes. In connection with the January Cash Offers, which expired on January 31, 2017 and settled on February 3, 2017, we repurchased $0.5 billion aggregate principal amount of Old Notes for $0.5 billion, exclusive of accrued interest. On February 10, 2017, we purchased for $0.1 billion, exclusive of accrued interest, an additional $0.1 billion of Old Notes (the “subsequent cash purchases”) from certain holders whose tenders of Old Notes in the January Cash Offers had been rejected. The table below lists the series of Old Notes included in the January Exchange Offers for the 2022 New Notes and the January Cash Offers, referred to as Group 1: (dollars in millions) Interest Maturity Principal Principal Principal (1) Verizon Communications Inc. 5.500% 2018 $ 737 $ 83 $ 8 6.100% 2018 753 77 9 3.650% 2018 2,698 508 97 2.550% 2019 500 154 35 1.375% 2019 1,000 376 38 2.625% 2020 3,304 1,925 55 $ 3,123 $ 242 (1) The table below lists the series of Old Notes included in the January Exchange Offers for the 2039 New Notes and the January Cash Offers, referred to as Group 2: (dollars in millions) Interest Maturity Principal Principal Principal (1) Verizon Communications Inc. 5.150% 2023 $ 8,517 $ 715 $ 217 7.750% 2030 930 184 4 7.750% 2032 218 2 - 6.400% 2033 1,729 640 6 $ 1,541 $ 227 (1) The table below lists the series of Old Notes included in the January Exchange Offers for the 2049 New Notes and the January Cash Offers, referred to as Group 3: (dollars in millions) Interest Maturity Principal Principal Principal (1) Verizon Communications Inc. 5.850% 2035 $ 1,250 $ 447 $ 4 6.250% 2037 636 189 5 6.400% 2038 750 228 6 6.900% 2038 384 111 4 8.950% 2039 290 48 - 7.350% 2039 412 225 1 6.000% 2041 1,000 480 20 6.550% 2043 4,245 1,933 46 $ 3,661 $ 86 (1) Term Loan Credit Agreement In March 2017, we prepaid $1.7 billion of the outstanding $3.3 billion term loan that had an original maturity date of July 2019. During April 2017, we repaid the remaining outstanding amount under the term loan agreement. March Tender Offer On March 13, 2017, we announced the commencement of a tender offer (the March Tender Offer) to purchase for cash any and all of the series of notes listed below. The Tender Offer expired on March 17, 2017 and most of which was settled on March 20, 2017. In addition to the purchase price, any accrued and unpaid interest on the purchased notes was paid to the date of purchase. (dollars in millions, except for Purchase Price) Interest Maturity Principal Purchase Price (1) Principal Verizon Communications Inc. 8.950% 2039 $ 242 $ 1,537.18 $ 131 7.750% 2032 215 1,341.68 36 6.550% 2043 2,266 1,239.85 847 6.400% 2033 1,083 1,216.85 612 7.350% 2039 186 1,324.60 27 6.900% 2038 270 1,273.29 49 7.750% 2030 742 1,379.04 160 6.400% 2038 515 1,206.61 118 6.250% 2037 443 1,189.56 103 5.850% 2035 800 1,151.79 249 6.000% 2041 500 1,151.23 206 6.100% 2018 667 1,048.45 153 5.500% 2018 646 1,037.01 113 Verizon New York Inc. 7.375% 2032 244 1,285.50 39 6.500% 2028 72 1,177.23 1 Verizon Pennsylvania LLC 8.750% 2031 53 1,426.33 17 8.350% 2030 48 1,384.37 16 6.000% 2028 68 1,139.69 11 Verizon Delaware LLC 8.625% 2031 10 1,416.70 8 Verizon Maryland LLC 8.300% 2031 24 1,378.75 2 8.000% 2029 28 1,332.71 1 5.125% 2033 179 1,063.06 15 Verizon Virginia LLC 8.375% 2029 19 1,367.57 9 7.875% 2022 57 1,206.35 - Verizon New England Inc. 7.875% 2029 173 1,322.35 26 Verizon New Jersey Inc. 7.850% 2029 87 1,319.96 8 8.000% 2022 146 1,227.16 25 GTE LLC 8.750% 2021 207 1,240.28 14 6.940% 2028 413 1,270.73 85 6.840% 2018 332 1,056.27 38 $ 3,119 (1) Per $1,000 principal amount of notes tendered. Debt Issuances and Redemptions During February 2017, we redeemed $0.2 billion of the $0.6 billion 6.94% GTE LLC Notes due 2028 at 124.8% of the principal amount of the notes redeemed (see “Early Debt Redemptions”). During February 2017, we issued approximately $1.5 billion aggregate principal amount of 4.95% Notes due 2047. The issuance of these notes resulted in cash proceeds of approximately $1.5 billion, net of discounts and issuance costs and after reimbursement of certain expenses. The net proceeds were used for general corporate purposes. During March 2017, we issued $11.0 billion aggregate principal amount of fixed and floating rate notes. The issuance of these notes resulted in cash proceeds of approximately $10.9 billion, net of discounts and issuance costs and after reimbursement of certain expenses. The issuance consisted of the following series of notes: $1.4 billion aggregate principal amount of Verizon Communications Floating Rate Notes due 2022, $1.85 billion aggregate principal amount of Verizon Communications 3.125% Notes due 2022, $3.25 billion aggregate principal amount of Verizon Communications 4.125% Notes due 2027, $3.0 billion aggregate principal amount of Verizon Communications 5.250% Notes due 2037, and $1.5 billion aggregate principal amount of Verizon Communications 5.500% Notes due 2047. The floating rate notes bear interest at a rate equal to the three-month LIBOR plus 1.000% which rate will be reset quarterly. The net proceeds were primarily used for the tender offer and general corporate purposes, including discretionary contributions to our qualified pension plans of $3.4 billion. We used the remaining net proceeds for the financing of our acquisition of Yahoo’s operating business. During April 2017, we redeemed in whole $0.5 billion aggregate principal amount of Verizon Communications 6.100% Notes due 2018 at 104.5% of the principal amount of such notes and $0.5 billion aggregate principal amount of Verizon Communications 5.50% Notes due 2018 at 103.3% of the principal amount of such notes, plus accrued and unpaid interest to the date of redemption. During May 2017, we issued $1.5 billion aggregate principal amount of Verizon Communications floating rate notes due 2020. The issuance of these notes resulted in cash proceeds of approximately $1.5 billion, net of discounts and issuance costs and after reimbursement of certain expenses. The floating rate notes bear interest at a rate equal to three-month LIBOR plus 0.550% which will be reset quarterly. The net proceeds were primarily used for general corporate purposes, which included the repayment of outstanding indebtedness. In addition we issued CHF 0.6 billion aggregate principal amount of Verizon Communications 0.375% Bonds due 2023, and CHF 0.4 billion aggregate principal amount of Verizon Communications 1.00% Bonds due 2027. The issuance of these bonds resulted in cash proceeds of approximately $1.0 billion, net of discounts and issuance costs. The net proceeds were primarily used for general corporate purposes including the repayment of debt. During May 2017, we initiated a retail notes program in connection with the issuance and sale from time to time of our notes that are due nine months or more from the date of issue. As of June 30, 2017 we have issued $0.5 billion of Verizon Communication Notes with interest rates ranging from 2.600% to 4.900% and maturity dates ranging from 2022 to 2047. During June 2017, $1.3 billion of Verizon Communication floating rate notes matured and were repaid. During June 2017, we redeemed in whole $0.5 billion aggregate principal amount of Verizon Communications 1.100% Notes due 2017 at 100.003% of the principal amount of such notes, plus accrued and unpaid interest to the date of redemption. Asset-Backed Debt As of June 30, 2017, the carrying value of our asset-backed debt was $7.9 billion. Our asset-backed debt includes notes (the Asset-Backed Notes) issued to third-party investors (Investors) and loans (ABS Financing Facility) received from banks and their conduit facilities (collectively, the Banks). Our consolidated asset-backed securitization bankruptcy remote legal entities (each, an ABS Entity or collectively, the ABS Entities) issue the debt or are otherwise party to the transaction documentation in connection with our asset-backed debt transactions. Under the terms of our asset-backed debt, we transfer device payment plan agreement receivables from Cellco Partnership and certain other affiliates of Verizon (collectively, the Originators) to one of the ABS Entities, which in turn transfers such receivables to another ABS Entity that issues the debt. Verizon entities retain the equity interests in the ABS Entities, which represent the rights to all funds not needed to make required payments on the asset-backed debt and other related payments and expenses. Our asset-backed debt is secured by the transferred device payment plan agreement receivables and future collections on such receivables. The device payment plan agreement receivables transferred to the ABS Entities and related assets, consisting primarily of restricted cash, will only be available for payment of asset-backed debt and expenses related thereto, payments to the Originators in respect of additional transfers of device payment plan agreement receivables, and other obligations arising from our asset-backed debt transactions, and will not be available to pay other obligations or claims of Verizon’s creditors until the associated asset-backed debt and other obligations are satisfied. The Investors or Banks, as applicable, which hold our asset-backed debt have legal recourse to the assets securing the debt, but do not have any recourse to Verizon with respect to the payment of principal and interest on the debt. Under a parent support agreement, Verizon has agreed to guarantee certain of the payment obligations of Cellco Partnership and the Originators to the ABS Entities. Cash collections on the device payment plan agreement receivables are required at certain specified times to be placed into segregated accounts. Deposits to the segregated accounts are considered restricted cash and are included in Prepaid expenses and other and Other assets on our condensed consolidated balance sheets. Proceeds from our asset-backed debt transactions, deposits to the segregated accounts and payments to the Originators in respect of additional transfers of device payment plan agreement receivables are reflected in Cash flows from financing activities in our condensed consolidated statements of cash flows. Repayments of our asset-backed debt and related interest payments made from the segregated accounts are non-cash Asset-Backed Notes In March 2017, we issued approximately $1.3 billion aggregate principal amount of senior and junior Asset-Backed Notes through an ABS Entity. The Class A senior Asset-Backed Notes had an expected weighted-average life to maturity of 2.6 years at issuance and bear interest at 2.06% per annum, the Class B junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.38 years at issuance and bear interest at 2.45% per annum and the Class C junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.64 years at issuance and bear interest at 2.65% per annum. In June 2017, we issued approximately $1.3 billion aggregate principal amount of senior and junior Asset-Backed Notes through an ABS Entity. The Class A senior Asset-Backed Notes had an expected weighted-average life to maturity of 2.47 years at issuance and bear interest at 1.92% per annum, the Class B junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.11 years at issuance and bear interest at 2.22% per annum and the Class C junior Asset-Backed Notes had an expected weighted-average life to maturity of 3.34 years at issuance and bear interest at 2.38% per annum. Under the terms of the Asset-Backed Notes, there is a two-year ABS Financing Facility As of June 30, 2017, aggregate outstanding borrowings under the ABS Financing Facility were approximately $2.8 billion and $0.3 billion of such amount was drawn down pursuant to a second series loan agreement that was entered into in May 2017. Under both series of the ABS Financing Facility there is a two year revolving period, which may be extended, during which we may transfer additional receivables to the ABS Entity. Subject to certain conditions, we may also remove receivables from the ABS Entity. Although the ABS Financing Facility is fully drawn as of June 30, 2017, we have the right to prepay all or a portion thereof at any time without penalty, but in certain cases, with breakage costs. If we choose to prepay, the amount prepaid shall be available for further drawdowns until September 2018, except in certain circumstances. Variable Interest Entities (VIEs) The ABS Entities meet the definition of a VIE for which we have determined that we are the primary beneficiary as we have both the power to direct the activities of the entity that most significantly impact the entity’s performance and the obligation to absorb losses or the right to receive benefits of the entity. Therefore, the assets, liabilities and activities of the ABS Entities are consolidated in our financial results and are included in amounts presented on the face of our condensed consolidated balance sheets. The assets and liabilities related to our asset-backed debt arrangements included on our condensed consolidated balance sheets were as follows: (dollars in millions) At June 30, At December 31, Assets Account receivable, net $ 6,472 $ 3,383 Prepaid expenses and other 396 236 Other assets 3,071 2,383 Liabilities Accounts payable and accrued liabilities 4 4 Long-term debt 7,869 4,988 See Note 5 for additional information on device payment plan agreement receivables used to secure asset-backed debt. Credit Facilities As of June 30, 2017, the unused borrowing capacity under our $9.0 billion credit facility was approximately $8.9 billion. The credit facility does not require us to comply with financial covenants or maintain specified credit ratings, and it permits us to borrow even if our business has incurred a material adverse change. We use the credit facility for the issuance of letters of credit and for general corporate purposes. As of June 30, 2017, the equipment credit facility insured by Eksportkreditnamnden Stockholm, Sweden (EKN), the Swedish export credit agency, was fully drawn at $1.0 billion. We used this credit facility to finance network equipment-related purchases. Additional Financing Activities (Non-Cash During the six months ended June 30, 2017, we financed, primarily through alternative financing arrangements, the purchase of approximately $0.2 billion of long-lived assets consisting primarily of network equipment. At June 30, 2017, $1.2 billion relating to these financing arrangements, including those entered into in prior years and liabilities assumed through acquisitions, remained outstanding. These purchases are non-cash Early Debt Redemptions During the first quarter of 2017, we recorded a net pre-tax We recognize early debt redemption costs in Other expense, net on our condensed consolidated statements of income. Guarantees We guarantee the debentures of our operating telephone company subsidiaries. As of June 30, 2017, $1.0 billion aggregate principal amount of these obligations remained outstanding. Each guarantee will remain in place for the life of the obligation unless terminated pursuant to its terms, including the operating telephone company no longer being a wholly-owned subsidiary of Verizon. We also guarantee the debt obligations of GTE LLC as successor in interest to GTE Corporation that were issued and outstanding prior to July 1, 2003. As of June 30, 2017, $0.8 billion aggregate principal amount of these obligations remain outstanding.

Wireless Device Payment Plans

Wireless Device Payment Plans	6 Months Ended
	Jun. 30, 2017
Wireless Device Payment Plans	5. Wireless Device Payment Plans Under the Verizon device payment program, our eligible wireless customers purchase wireless devices under a device payment plan agreement. Customers that activate service on devices purchased under the device payment program pay lower service fees as compared to those under our fixed-term service plans, and their device payment plan charge is included on their standard wireless monthly bill. As of January 2017, we no longer offer consumers fixed-term service plans for phones. Wireless Device Payment Plan Agreement Receivables The following table displays device payment plan agreement receivables, net, that continue to be recognized in our condensed consolidated balance sheets: (dollars in millions) At June 30, At December 31, Device payment plan agreement receivables, gross $ 14,505 $ 11,797 Unamortized imputed interest (654 ) (511 ) Device payment plan agreement receivables, net of unamortized imputed interest 13,851 11,286 Allowance for credit losses (715 ) (688 ) Device payment plan agreement receivables, net $ 13,136 $ 10,598 Classified on our condensed consolidated balance sheets: Accounts receivable, net $ 8,548 $ 6,140 Other assets 4,588 4,458 Device payment plan agreement receivables, net $ 13,136 $ 10,598 Included in our device payment plan agreement receivables, net at June 30, 2017, are net device payment plan agreement receivables of $9.5 billion that have been transferred to ABS Entities and continue to be reported in our condensed consolidated balance sheet. We may offer our customers certain promotions where a customer can trade-in trade-in trade-in trade-in. trade-in trade-in From time to time, on select devices, certain marketing promotions have been revocably offered to customers to upgrade to a new device after paying down a certain specified portion of the required device payment plan agreement amount as well as trading in their device in good working order. At the time of the sale of a device, we impute risk adjusted interest on the device payment plan agreement receivables. We record the imputed interest as a reduction to the related accounts receivable. Interest income, which is included within Service revenues and other on our condensed consolidated statements of income, is recognized over the financed device payment term. When originating device payment plan agreements, we use internal and external data sources to create a credit risk score to measure the credit quality of a customer and to determine eligibility for the device payment program. If a customer is either new to Verizon Wireless or has less than 210 days of customer tenure with Verizon Wireless (a new customer), the credit decision process relies more heavily on external data sources. If the customer has 210 days or more of customer tenure with Verizon Wireless (an existing customer), the credit decision process relies on internal data sources. Verizon Wireless’ experience has been that the payment attributes of longer tenured customers are highly predictive when considering their ability to pay in the future. External data sources include obtaining a credit report from a national consumer credit reporting agency, if available. Verizon Wireless uses its internal data and/or credit data obtained from the credit reporting agencies to create a custom credit risk score. The custom credit risk score is generated automatically (except with respect to a small number of applications where the information needs manual intervention) from the applicant’s credit data using Verizon Wireless’ proprietary custom credit models, which are empirically derived, demonstrably and statistically sound. The credit risk score measures the likelihood that the potential customer will become severely delinquent and be disconnected for non-payment. Based on the custom credit risk score, we assign each customer to a credit class, each of which has a specified required down payment percentage and specified credit limits. Device payment plan agreement receivables originated from customers assigned to credit classes requiring no down payment represent the lowest risk. Device payment plan agreement receivables originated from customers assigned to credit classes requiring a down payment represent a higher risk. Subsequent to origination, Verizon Wireless monitors delinquency and write-off The balance and aging of the device payment plan agreement receivables on a gross basis were as follows: (dollars in millions) At June 30, At December 31, Unbilled $ 13,714 $ 11,089 Billed: Current 659 557 Past due 132 151 Device payment plan agreement receivables, gross $ 14,505 $ 11,797 Activity in the allowance for credit losses for the device payment plan agreement receivables was as follows: (dollars in millions) 2017 2016 Balance at January 1, $ 688 $ 444 Bad debt expense 315 310 Write-offs (288 ) (210 ) Allowance related to receivables sold - 28 Other - 6 Balance at June 30, $ 715 $ 578 Sales of Wireless Device Payment Plan Agreement Receivables During 2015 and 2016, we established programs pursuant to a Receivables Purchase Agreement, or RPA, to sell from time to time, on an uncommitted basis, eligible device payment plan agreement receivables to a group of primarily relationship banks (Purchasers) on both a revolving (Revolving Program) and non-revolving (Non-Revolving Under the Non-Revolving We continue to bill and collect on the receivables in exchange for a monthly servicing fee, which is insignificant. Eligible receivables under the RPA excluded device payment plan agreements where a new customer was required to provide a down payment. The sales of receivables under the RPA did not have a significant impact on our condensed consolidated statements of income. The cash proceeds received from the Purchasers were recorded within Cash flows provided by operating activities on our condensed consolidated statements of cash flows. There were no sales of device payment plan agreement receivables under the Revolving Program or the Non-Revolving Deferred Purchase Price Under the RPA, the deferred purchase price was initially recorded at fair value, based on the remaining device payment amounts expected to be collected, adjusted, as applicable, for the time value of money and by the timing and estimated value of the device trade-in trade-in Variable Interest Entities (VIEs) Under the RPA, the Sellers’ sole business consists of the acquisition of the receivables from Cellco Partnership and certain other affiliates of Verizon and the resale of the receivables to the Purchasers. The assets of the Sellers are not available to be used to satisfy obligations of any Verizon entities other than the Sellers. We determined that the Sellers are VIEs as they lack sufficient equity to finance their activities. Given that we have the power to direct the activities of the Sellers that most significantly impact the Sellers’ economic performance, we are deemed to be the primary beneficiary of the Sellers. As a result, we consolidate the assets and liabilities of the Sellers into our condensed consolidated balance sheets. Continuing Involvement Verizon has continuing involvement with the sold receivables as it services the receivables. We continue to service the customer and their related receivables on behalf of the Purchasers, including facilitating customer payment collection, in exchange for a monthly servicing fee. While servicing the receivables, the same policies and procedures are applied to the sold receivables that apply to owned receivables, and we continue to maintain normal relationships with our customers. The credit quality of the customers we continue to service is consistent throughout the periods presented. To date, we have collected and remitted approximately $9.6 billion, net of fees. To date, cash proceeds received, net of remittances, were $0.5 billion. Credit losses on receivables sold were insignificant during both the six months ended June 30, 2017 and 2016. In addition, we have continuing involvement related to the sold receivables as we may be responsible for absorbing additional credit losses pursuant to the agreements. The Company’s maximum exposure to loss related to the involvement with the Sellers is limited to the amount of the outstanding deferred purchase price, which was $1.1 billion as of June 30, 2017. The maximum exposure to loss represents an estimated loss that would be incurred under severe, hypothetical circumstances whereby the Company would not receive the portion of the proceeds withheld by the Purchasers. As we believe the probability of these circumstances occurring is remote, the maximum exposure to loss is not an indication of the Company’s expected loss.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements	6. Fair Value Measurements Recurring Fair Value Measurements The following table presents the balances of assets and liabilities measured at fair value on a recurring basis at June 30, 2017: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Equity securities $ 77 $ - $ - $ 77 Fixed income securities - 349 - 349 Interest rate swaps - 169 - 169 Cross currency swaps - 192 - 192 Interest rate cap - 4 - 4 Total $ 77 $ 714 $ - $ 791 Liabilities: Other liabilities: Interest rate swaps $ - $ 181 $ - $ 181 Cross currency swaps - 1,400 - 1,400 Total $ - $ 1,581 $ - $ 1,581 The following table presents the balances of assets and liabilities measured at fair value on a recurring basis at December 31, 2016: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Equity securities $ 123 $ - $ - $ 123 Fixed income securities 10 566 - 576 Interest rate swaps - 71 - 71 Cross currency swaps - 45 - 45 Interest rate caps - 10 - 10 Total $ 133 $ 692 $ - $ 825 Liabilities: Other liabilities: Interest rate swaps $ - $ 236 $ - $ 236 Cross currency swaps - 1,803 - 1,803 Total $ - $ 2,039 $ - $ 2,039 (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 municipal bonds as well as U.S. Treasury securities. We use quoted prices in active markets for our U.S. Treasury securities, 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 We recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. There were no transfers between Level 1 and Level 2 during the six months ended June 30, 2017 and 2016, respectively. 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 June 30, 2017 At December 31, 2016 (dollars in millions) Carrying Fair Value Carrying Fair Value Short- and long-term debt, excluding capital leases $ 116,537 $ 127,281 $ 107,128 $ 117,584 Derivative Instruments The following table sets forth the notional amounts of our outstanding derivative instruments: At June 30, 2017 At December 31, 2016 (dollars in millions) Notional Amount Notional Amount Interest rate swaps $ 16,635 $ 13,099 Cross currency swaps 13,911 12,890 Interest rate caps 2,840 2,540 Interest Rate Swaps We enter into interest rate swaps to achieve a targeted mix of fixed and variable rate debt. We principally receive fixed rates and pay variable rates based on LIBOR, resulting in a net increase or decrease to Interest expense. These swaps are designated as fair value hedges and hedge against interest rate risk exposure of designated debt issuances. We record the interest rate swaps at fair value on our condensed consolidated balance sheets as assets and liabilities. Changes in the fair value of the interest rate swaps are recorded to Interest expense, which are offset by changes in the fair value of the hedged debt due to changes in interest rates. During the first quarter of 2017, we entered into interest rate swaps with a total notional value of $3.5 billion. The ineffective portion of our interest rate swaps was insignificant for the three and six months ended June 30, 2017 and 2016, respectively. Forward Interest Rate Swaps In order to manage our exposure to future interest rate changes, we periodically enter into forward interest rate swaps. We designate these contracts as cash flow hedges. During the three and six months ended June 30, 2016, pre-tax Cross Currency Swaps We have entered into cross currency swaps designated as cash flow hedges to exchange our British Pound Sterling, Euro and Swiss Franc-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 impact of foreign currency transaction gains or losses. During the second quarter of 2017, we entered into cross currency swaps with a total notional value of $1.0 billion. During the three and six months ended June 30, 2017, pre-tax pre-tax pre-tax Net Investment Hedges We have designated certain foreign currency instruments as net investment hedges to mitigate foreign exchange exposure related to non-U.S. Undesignated Derivatives We also have the following derivative contracts which we use as an economic hedge but for which we have elected not to apply hedge accounting. Interest Rate Caps We enter into interest rate caps to mitigate our interest exposure to interest rate increases on our ABS Financing Facility. During the second quarter of 2017, we entered into interest rate caps with a total notional value of $0.3 billion. During the three and six months ended June 30, 2017, we recognized an insignificant increase in Interest expense, respectively. Concentrations of Credit Risk Financial instruments that subject us to concentrations of credit risk consist primarily of temporary cash investments, short-term and long-term investments, trade receivables, including device payment plan agreement receivables, certain notes receivable, including lease receivables, and derivative contracts. Our policy is to deposit our temporary cash investments with major financial institutions. Counterparties to our derivative contracts are also major financial institutions with whom we have negotiated derivatives agreements (ISDA master agreements) and credit support annex agreements (CSA) which provide rules for collateral exchange. Our CSAs generally require collateralized arrangements with our counterparties in connection with uncleared derivatives, but as of June 30, 2017, we have entered into amendments to our CSA agreements with substantially all of our counterparties that suspend the requirement for cash collateral posting for a specified period of time by both counterparties. While we may be exposed to credit losses due to the nonperformance of our counterparties, we consider the risk remote and do not expect that any such nonperformance would result in a significant effect on our results of operations or financial condition. During the first and second quarter of 2017, we paid an insignificant amount of cash to extend certain of such amendments to certain collateral exchange arrangements. As a result of the amendments to the CSA agreements, we did not post any collateral at June 30, 2017. At December 31, 2016, we posted collateral of approximately $0.2 billion related to derivative contracts under collateral exchange arrangements, which were recorded as Prepaid expenses and other in our condensed consolidated balance sheet.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2017
Stock-Based Compensation	7. Stock-Based Compensation Verizon Communications Long-Term Incentive Plan In May 2017, Verizon’s shareholders approved the 2017 Long-Term Incentive Plan (the 2017 Plan) and terminated Verizon’s authority to grant new awards under the Verizon 2009 Long-Term Incentive Plan (the 2009 Plan). Consistent with the 2009 Plan, the 2017 Plan provides for broad-based equity grants to employees, including executive officers, and permits the granting of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units and other awards. Upon approval of the 2017 Plan, Verizon reserved the 91 million shares that were reserved but not issued under the 2009 Plan for future issuance under the 2017 Plan. Restricted Stock Units The 2009 Plan and 2017 Plan provide for grants of Restricted Stock Units (RSUs). For RSUs granted prior to 2017, vesting generally occurs at the end of the third year. For the 2017 grants, vesting generally occurs in three equal installments on each anniversary of the grant date. The RSUs are generally 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. In connection with our acquisition of Yahoo’s operating business, on the closing date of the Transaction each unvested and outstanding Yahoo RSU award that was held by an employee who became an employee of Verizon was replaced with a Verizon RSU award, which is generally payable in cash upon the applicable vesting date. These awards are classified as liability awards and are measured at fair value at the end of each reporting period. Performance Stock Units The 2009 Plan and 2017 Plan also provide for grants of Performance Stock Units (PSUs) that generally vest at the end of the third year after the grant. As defined by the 2009 Plan and 2017 Plan, the Human Resources Committee of the Board of Directors determines the number of PSUs a participant earns based on the extent to which the corresponding performance goals have been achieved over the three-year performance cycle. The PSUs are classified as liability awards because the PSU awards are paid in cash upon vesting. The PSU award liability is measured at its fair value at the end of each reporting period and, therefore, will fluctuate based on the price of Verizon common stock as well as performance relative to the targets. 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 granted and cancelled activity for the PSU award includes adjustments for the performance goals achieved. The following table summarizes the Restricted Stock Unit and Performance Stock Unit activity: Restricted Stock Units Performance Stock Units (shares in thousands) Equity Awards Liability Awards Outstanding, January 1, 2017 13,308 - 17,919 Granted 5,888 22,071 6,278 Payments (4,880 ) (726 ) (6,031 ) Cancelled/Forfeited (108 ) (55 ) (1,198 ) Outstanding, June 30, 2017 14,208 21,290 16,968 As of June 30, 2017, unrecognized compensation expense related to the unvested portion of Verizon’s RSUs and PSUs was approximately $1.3 billion and is expected to be recognized over approximately two years. The equity RSUs granted in 2017 have a weighted-average grant date fair value of $50.01 per unit.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2017
Employee Benefits	8. Employee Benefits We maintain non-contributory non-contributory, Net Periodic 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 June 30, 2017 2016 2017 2016 Service cost $ 70 $ 76 $ 37 $ 52 Amortization of prior service cost (credit) 9 3 (235 ) (113 ) Expected return on plan assets (316 ) (257 ) (13 ) (13 ) Interest cost 171 170 165 197 Remeasurement loss, net - 1,257 - 2,293 Net periodic benefit (income) cost $ (66 ) $ 1,249 $ (46 ) $ 2,416 (dollars in millions) Pension Health Care and Life Six Months Ended June 30, 2017 2016 2017 2016 Service cost $ 140 $ 156 $ 74 $ 113 Amortization of prior service cost (credit) 19 2 (470 ) (186 ) Expected return on plan assets (632 ) (528 ) (26 ) (28 ) Interest cost 342 356 330 421 Remeasurement loss, net - 1,422 - 2,293 Net periodic benefit (income) cost $ (131 ) $ 1,408 $ (92 ) $ 2,613 Severance, Pension and Benefit Charges During the three and six months ended June 30, 2017, we recorded a pre-tax During the three months ended June 30, 2016, we recorded net pre-tax pre-tax pre-tax pre-tax lump-sum During the six months ended June 30, 2016, we also recorded a net pre-tax lump-sum Severance Payments During the three and six months ended June 30, 2017, we paid severance benefits of $0.2 billion and $0.4 billion, respectively. At June 30, 2017, we had a remaining severance liability of $0.7 billion, a portion of which includes future contractual payments to employees separated as of June 30, 2017. Employer Contributions During the three and six months ended June 30, 2017, we contributed $0.2 billion and $3.8 billion, respectively, to our qualified pension plans, which included $3.4 billion of discretionary contributions during the six months ended June 30, 2017. The discretionary contribution together with previous estimates of $0.6 billion for minimum contributions result in an expected $4.0 billion in pension funding to qualified plans in 2017. The contributions to our nonqualified pension plans were insignificant during the three and six months ended June 30, 2017, respectively. There have been no significant changes with respect to the nonqualified pension and other postretirement benefit plans contributions in 2017 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

Equity and Accumulated Other Co

Equity and Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2017
Equity and Accumulated Other Comprehensive Income	9. Equity and Accumulated Other Comprehensive Income Equity Changes in the components of Total equity were as follows: Attributable Noncontrolling Total (dollars in millions) to Verizon Interests Equity Balance at January 1, 2017 $ 22,524 $ 1,508 $ 24,032 Net income 7,812 219 8,031 Other comprehensive loss (389 ) - (389 ) Comprehensive income 7,423 219 7,642 Contributed capital (83 ) - (83 ) Dividends declared (4,712 ) - (4,712 ) Common stock in treasury 121 - 121 Distributions and other (84 ) (155 ) (239 ) Balance at June 30, 2017 $ 25,189 $ 1,572 $ 26,761 Common Stock On February 28, 2017, our previously authorized share buyback program expired. On March 3, 2017, the Verizon Board of Directors approved a new share buyback program, which authorized the repurchase of up to 100 million shares of Verizon common stock terminating no later than the close of business on February 28, 2020. The program permits Verizon to repurchase shares over time, with the amount and timing of repurchases depending on market conditions and corporate needs. Verizon did not repurchase any shares of Verizon common stock through its authorized share buyback program during the six months ended June 30, 2017. Common stock has been used from time to time to satisfy some of the funding requirements of employee and shareowner plans, including 2.7 million common shares issued from Treasury stock during the six months ended June 30, 2017. 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 loss on cash flow hedges Unrealized loss on Defined benefit pension and Total Balance at January 1, 2017 $ (713 ) $ (80) $ 46 $ 3,420 $ 2,673 Other comprehensive income 88 331 13 - 432 Amounts reclassified to net income - (529) (19 ) (273 ) (821 ) Net other comprehensive income (loss) 88 (198) (6 ) (273 ) (389 ) Balance at June 30, 2017 $ (625 ) $ (278) $ 40 $ 3,147 $ 2,284 The amounts presented above in net other comprehensive income (loss) are net of taxes. The amounts reclassified to net income related to unrealized loss on cash flow hedges in the table above are included in Other expense, net and Interest expense on our condensed consolidated statements of income (see Note 6 for additional information). The amounts reclassified to net income related to unrealized loss on marketable securities in the table above are included in Other expense, net on our condensed consolidated statements of income. The amounts reclassified to net income related to defined benefit pension and postretirement plans in the table above are included in Cost of services and Selling, general and administrative expense on our condensed consolidated statements of income (see Note 8 for additional information).

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2017
Segment Information	10. Segment Information Reportable Segments We have two reportable segments, Wireless and Wireline, which we operate and manage as strategic business units and organize by products and services, and customer groups, respectively. We measure and evaluate our reportable segments based on segment operating income, consistent with the chief operating decision maker’s assessment of segment performance. Our segments and their principal activities consist of the following: Segment Description 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 broadband video and data, corporate networking solutions, data center and cloud services, security and managed network services and local and long distance voice 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 around the world. Corporate and other includes the results of our media business including Oath, our telematics and other businesses, investments in unconsolidated businesses, unallocated corporate expenses, pension and other employee benefit related costs and lease financing. Corporate and other also includes the historical results of divested businesses and other adjustments and gains and losses that are not allocated in assessing segment performance due to their nature. Although such transactions are excluded from the business segment results, they are included in reported consolidated earnings. Gains and losses 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. We completed our acquisition of Yahoo’s operating business on June 13, 2017. The results of operations of Yahoo’s operating business from the date of closing until June 30, 2017 were insignificant to our condensed consolidated statements of income. On April 1, 2016, we completed the sale of our local exchange business and related landline activities in California, Florida and Texas, including Fios Internet and video customers, switched and special access lines and high-speed Internet service and long distance voice accounts in these three states to Frontier Communications Corporation (Frontier). The transaction, which included the acquisition by Frontier of the equity interests of Verizon’s incumbent local exchange carriers (ILECs) in California, Florida and Texas, did not involve any assets or liabilities of Verizon Wireless. Additionally, on May 1, 2017, we completed the Data Center Sale (see Note 2 for additional information). The results of operations for these divestitures is included within Corporate and other for all periods presented to reflect comparable segment operating results consistent with the information regularly reviewed by our chief operating decision maker. In addition, Corporate and other includes the results of our telematics businesses for all periods presented, which were reclassified from our Wireline segment effective April 1, 2016. The impact of this reclassification was insignificant to our condensed consolidated financial statements or our segment results of operations. During the first quarter of 2017, Verizon reorganized the customer groups within its Wireline segment. Previously, the customer groups in the Wireline segment consisted of Mass Markets (which included Consumer Retail and Small Business subgroups), Global Enterprise and Global Wholesale. Pursuant to the reorganization, there are now four customer groups within the Wireline segment: Consumer Markets, which includes the customers previously included in Consumer Retail; Enterprise Solutions, which includes the large business customers, including multinational corporations, and federal government customers previously included in Global Enterprise; Partner Solutions, which includes the customers previously included in Global Wholesale; and Business Markets, a new customer group, which includes U.S.-based small business customers previously included in Mass Markets and U.S.-based medium business customers, state and local government customers and educational institutions previously included in Global Enterprise. The reconciliation of segment operating revenues and expenses to consolidated operating revenues and expenses below includes the effects of special items that management does not consider in assessing segment performance, primarily because of their nature. We have adjusted prior period consolidated and segment information, where applicable, to conform to the current period presentation. The following table provides operating financial information for our two reportable segments: Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 External Operating Revenues Wireless Service $ 15,605 $ 16,692 $ 31,335 $ 33,461 Equipment 4,298 3,704 8,062 7,658 Other 1,306 1,216 2,588 2,412 Total Wireless 21,209 21,612 41,985 43,531 Wireline Consumer Markets 3,184 3,165 6,385 6,345 Enterprise Solutions 2,387 2,378 4,779 4,802 Partner Solutions 1,008 1,002 1,999 2,031 Business Markets 921 845 1,803 1,707 Other 74 84 135 166 Total Wireline 7,574 7,474 15,101 15,051 Total reportable segments $ 28,783 $ 29,086 $ 57,086 $ 58,582 Intersegment Revenues Wireless $ 73 $ 92 $ 175 $ 177 Wireline 228 239 469 476 Total reportable segments $ 301 $ 331 $ 644 $ 653 Total Operating Revenues Wireless $ 21,282 $ 21,704 $ 42,160 $ 43,708 Wireline 7,802 7,713 15,570 15,527 Total reportable segments $ 29,084 $ 29,417 $ 57,730 $ 59,235 Operating Income (Loss) Wireless $ 7,410 $ 8,017 $ 14,486 $ 15,897 Wireline 68 (524 ) 287 (653 ) Total reportable segments $ 7,478 $ 7,493 $ 14,773 $ 15,244 (dollars in millions) At June 30, At December 31, Assets Wireless $ 222,275 $ 211,345 Wireline 67,778 66,679 Total reportable segments 290,053 278,024 Corporate and other 225,651 213,787 Eliminations (262,726 ) (247,631 ) Total consolidated - reported $ 252,978 $ 244,180 A reconciliation of the reportable segment operating revenues to consolidated operating revenues is as follows: Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Total reportable segment operating revenues $ 29,084 $ 29,417 $ 57,730 $ 59,235 Corporate and other 1,778 1,366 3,238 2,675 Eliminations (351 ) (361 ) (751 ) (706 ) Operating results from divested businesses 37 110 145 1,499 Total consolidated operating revenues $ 30,548 $ 30,532 $ 60,362 $ 62,703 Fios revenues are included within our Wireline segment and amounted to approximately $2.9 billion and $5.8 billion, respectively for the three and six months ended June 30, 2017. Fios revenues amounted to approximately $2.8 billion and $5.5 billion, respectively, for the three and six months ended June 30, 2016. 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 June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Total reportable segment operating income $ 7,478 $ 7,493 $ 14,773 $ 15,244 Corporate and other (285 ) (457 ) (599 ) (966 ) Severance, pension and benefit charges (Note 8) (607 ) (3,550 ) (607 ) (3,715 ) Net gain on sale of divested businesses (Note 2) 1,774 1,007 1,774 1,007 Acquisition and integration related charges (Note 2) (152 ) - (152 ) - Gain on spectrum license transaction (Note 2) - - 126 142 Operating results from divested businesses 24 61 98 784 Total consolidated operating income 8,232 4,554 15,413 12,496 Equity in losses of unconsolidated businesses (28 ) (20 ) (49 ) (40 ) Other expense, net (19 ) (1,826 ) (865 ) (1,794 ) Interest expense (1,218 ) (1,013 ) (2,350 ) (2,201 ) Income Before Provision For Income Taxes $ 6,967 $ 1,695 $ 12,149 $ 8,461 No single customer accounted for more than 10% of our total operating revenues during the three and six months ended June 30, 2017 and 2016.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies	11. Commitments and Contingencies In the ordinary course of business, Verizon is involved in various commercial litigation and regulatory proceedings at the state and federal level. Where it is determined, in consultation with counsel based on litigation and settlement risks, that a loss is probable and estimable in a given matter, the Company establishes an accrual. In none of the currently pending matters is the amount of accrual significant. 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 significant effect on our financial condition, but it could have a significant effect on our results of operations for a given reporting period. Reserves have been established to cover environmental matters relating to discontinued businesses and past telecommunications activities. These reserves include funds to address contamination at the site of a former Sylvania facility in Hicksville, NY, which had processed nuclear fuel rods in the 1950s and 1960s. In September 2005, the Army Corps of Engineers (ACE) accepted the site into its Formerly Utilized Sites Remedial Action Program. As a result, the ACE has taken primary responsibility for addressing the contamination at the site. An adjustment to the reserves may be made after a cost allocation is conducted with respect to the past and future expenses of all of the parties. Adjustments to the environmental reserve may also be made based upon the actual conditions found at other sites requiring remediation. Verizon is currently involved in approximately 35 federal district court actions alleging that Verizon is infringing various patents. Most of these cases are brought by non-practicing 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 spin-off

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2017
Summary of Severance, Acquisition and Integration Related Charges Related to Acquisition	In connection with the Yahoo Transaction, we recognized the following charges, which were recorded in Selling, general and administrative expense on our condensed consolidated statements of income: Three Months Ended Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Severance $ 370 $ - $ 370 $ - Transaction costs 66 - 66 - Integration costs 56 - 56 - $ 492 $ - $ 492 $ -
Yahoo! Inc.
Purchase Price Identified Based on Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the consideration to Yahoo’s shareholders and the preliminary identification of the assets acquired, including cash acquired of $0.2 billion, and liabilities assumed as of the close of the acquisition, as well as the fair value at the acquisition date of Yahoo’s noncontrolling interests: (dollars in millions) As of June 13, 2017 Cash payment to Yahoo’s equity holders $ 4,723 Estimated liabilities to be paid 38 Total consideration $ 4,761 Assets acquired: Goodwill $ 874 Intangible assets subject to amortization 2,586 Property, plant, and equipment 1,796 Other 1,362 Total assets acquired 6,618 Liabilities assumed: Total liabilities assumed 1,824 Net assets acquired: 4,794 Noncontrolling interest (33 ) Total consideration $ 4,761

Wireless Licenses, Goodwill a20

Wireless Licenses, Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Changes in Carrying Amount of Wireless Licenses	Changes in the carrying amount of Wireless licenses are as follows: (dollars in millions) Balance at January 1, 2017 $ 86,673 Acquisitions (Note 2) 76 Capitalized interest on wireless licenses 239 Reclassifications, adjustments and other 1,016 Balance at June 30, 2017 $ 88,004
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of Goodwill are as follows: (dollars in millions) Wireless Wireline Other Total Balance at January 1, 2017 $ 18,393 $ 3,784 $ 5,028 $ 27,205 Acquisitions (Note 2) 5 432 887 1,324 Reclassifications, adjustments and other - (5 ) 3 (2 ) Balance at June 30, 2017 $ 18,398 $ 4,211 $ 5,918 $ 28,527
Composition of Other Intangible Assets, Net	The following table displays the composition of Other intangible assets, net: At June 30, 2017 At December 31, 2016 (dollars in millions) Gross Accumulated Net Amount Gross Accumulated Net Customer lists (8 to 13 years) $ 4,014 $ (529 ) $ 3,485 $ 2,884 $ (480 ) $ 2,404 Non-network internal-use 17,249 (11,525 ) 5,724 16,135 (10,913 ) 5,222 Other (5 to 25 years) 2,602 (668 ) 1,934 1,854 (583 ) 1,271 Total $ 23,865 $ (12,722 ) $ 11,143 $ 20,873 $ (11,976 ) $ 8,897
Amortization Expense for Other Intangible Assets	The amortization expense for Other intangible assets was as follows: (dollars in millions) Three Months Ended June 30, Six Months Ended June 30, 2017 $ 485 $ 937 2016 401 836
Estimated Future Amortization Expense for Other Intangible Assets	The estimated future amortization expense for Other intangible assets is as follows: Years (dollars in millions) Remainder of 2017 $ 1,393 2018 1,891 2019 1,656 2020 1,406 2021 1,222

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Combined Schedule of Current and Noncurrent Debt and Capital Lease Obligations	Changes to debt during the six months ended June 30, 2017 are as follows: (dollars in millions) Debt Maturing Long-term Total Balance at January 1, 2017 $ 2,645 $ 105,433 $ 108,078 Proceeds from long-term borrowings 65 15,944 16,009 Proceeds from asset-backed long-term borrowings - 2,878 2,878 Repayments of long-term borrowings and capital leases obligations (3,158 ) (7,136 ) (10,294 ) Decrease in short-term obligations, excluding current maturities (152 ) - (152 ) Reclassifications of long-term debt 1,569 (1,569 ) - Debt acquired (Note 2) 7 52 59 Other 177 788 965 Balance at June 30, 2017 $ 1,153 $ 116,390 $ 117,543
Schedule of Notes Included in Exchange and Cash Offer	The table below lists the series of Old Notes included in the January Exchange Offers for the 2022 New Notes and the January Cash Offers, referred to as Group 1: (dollars in millions) Interest Maturity Principal Principal Principal (1) Verizon Communications Inc. 5.500% 2018 $ 737 $ 83 $ 8 6.100% 2018 753 77 9 3.650% 2018 2,698 508 97 2.550% 2019 500 154 35 1.375% 2019 1,000 376 38 2.625% 2020 3,304 1,925 55 $ 3,123 $ 242 (1) The table below lists the series of Old Notes included in the January Exchange Offers for the 2039 New Notes and the January Cash Offers, referred to as Group 2: (dollars in millions) Interest Maturity Principal Principal Principal (1) Verizon Communications Inc. 5.150% 2023 $ 8,517 $ 715 $ 217 7.750% 2030 930 184 4 7.750% 2032 218 2 - 6.400% 2033 1,729 640 6 $ 1,541 $ 227 (1) The table below lists the series of Old Notes included in the January Exchange Offers for the 2049 New Notes and the January Cash Offers, referred to as Group 3: (dollars in millions) Interest Maturity Principal Principal Principal (1) Verizon Communications Inc. 5.850% 2035 $ 1,250 $ 447 $ 4 6.250% 2037 636 189 5 6.400% 2038 750 228 6 6.900% 2038 384 111 4 8.950% 2039 290 48 - 7.350% 2039 412 225 1 6.000% 2041 1,000 480 20 6.550% 2043 4,245 1,933 46 $ 3,661 $ 86 (1)
Schedule of Notes included in the Tender Offer	On March 13, 2017, we announced the commencement of a tender offer (the March Tender Offer) to purchase for cash any and all of the series of notes listed below. The Tender Offer expired on March 17, 2017 and most of which was settled on March 20, 2017. In addition to the purchase price, any accrued and unpaid interest on the purchased notes was paid to the date of purchase. (dollars in millions, except for Purchase Price) Interest Maturity Principal Purchase Price (1) Principal Verizon Communications Inc. 8.950% 2039 $ 242 $ 1,537.18 $ 131 7.750% 2032 215 1,341.68 36 6.550% 2043 2,266 1,239.85 847 6.400% 2033 1,083 1,216.85 612 7.350% 2039 186 1,324.60 27 6.900% 2038 270 1,273.29 49 7.750% 2030 742 1,379.04 160 6.400% 2038 515 1,206.61 118 6.250% 2037 443 1,189.56 103 5.850% 2035 800 1,151.79 249 6.000% 2041 500 1,151.23 206 6.100% 2018 667 1,048.45 153 5.500% 2018 646 1,037.01 113 Verizon New York Inc. 7.375% 2032 244 1,285.50 39 6.500% 2028 72 1,177.23 1 Verizon Pennsylvania LLC 8.750% 2031 53 1,426.33 17 8.350% 2030 48 1,384.37 16 6.000% 2028 68 1,139.69 11 Verizon Delaware LLC 8.625% 2031 10 1,416.70 8 Verizon Maryland LLC 8.300% 2031 24 1,378.75 2 8.000% 2029 28 1,332.71 1 5.125% 2033 179 1,063.06 15 Verizon Virginia LLC 8.375% 2029 19 1,367.57 9 7.875% 2022 57 1,206.35 - Verizon New England Inc. 7.875% 2029 173 1,322.35 26 Verizon New Jersey Inc. 7.850% 2029 87 1,319.96 8 8.000% 2022 146 1,227.16 25 GTE LLC 8.750% 2021 207 1,240.28 14 6.940% 2028 413 1,270.73 85 6.840% 2018 332 1,056.27 38 $ 3,119 (1) Per $1,000 principal amount of notes tendered.
Schedule of Assets and Liabilities Related to Asset-backed Debt Arrangements	The assets and liabilities related to our asset-backed debt arrangements included on our condensed consolidated balance sheets were as follows: (dollars in millions) At June 30, At December 31, Assets Account receivable, net $ 6,472 $ 3,383 Prepaid expenses and other 396 236 Other assets 3,071 2,383 Liabilities Accounts payable and accrued liabilities 4 4 Long-term debt 7,869 4,988

Wireless Device Payment Plans (

Wireless Device Payment Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Device Payment Plan Receivables, Net	The following table displays device payment plan agreement receivables, net, that continue to be recognized in our condensed consolidated balance sheets: (dollars in millions) At June 30, At December 31, Device payment plan agreement receivables, gross $ 14,505 $ 11,797 Unamortized imputed interest (654 ) (511 ) Device payment plan agreement receivables, net of unamortized imputed interest 13,851 11,286 Allowance for credit losses (715 ) (688 ) Device payment plan agreement receivables, net $ 13,136 $ 10,598 Classified on our condensed consolidated balance sheets: Accounts receivable, net $ 8,548 $ 6,140 Other assets 4,588 4,458 Device payment plan agreement receivables, net $ 13,136 $ 10,598
Balance and Aging of Device Payment Plan Agreement Receivables on Gross Basis	The balance and aging of the device payment plan agreement receivables on a gross basis were as follows: (dollars in millions) At June 30, At December 31, Unbilled $ 13,714 $ 11,089 Billed: Current 659 557 Past due 132 151 Device payment plan agreement receivables, gross $ 14,505 $ 11,797
Activity in Allowance for Credit Losses for Device Payment Plan Agreement Receivables	Activity in the allowance for credit losses for the device payment plan agreement receivables was as follows: (dollars in millions) 2017 2016 Balance at January 1, $ 688 $ 444 Bad debt expense 315 310 Write-offs (288 ) (210 ) Allowance related to receivables sold - 28 Other - 6 Balance at June 30, $ 715 $ 578

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents the balances of assets and liabilities measured at fair value on a recurring basis at June 30, 2017: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Equity securities $ 77 $ - $ - $ 77 Fixed income securities - 349 - 349 Interest rate swaps - 169 - 169 Cross currency swaps - 192 - 192 Interest rate cap - 4 - 4 Total $ 77 $ 714 $ - $ 791 Liabilities: Other liabilities: Interest rate swaps $ - $ 181 $ - $ 181 Cross currency swaps - 1,400 - 1,400 Total $ - $ 1,581 $ - $ 1,581 The following table presents the balances of assets and liabilities measured at fair value on a recurring basis at December 31, 2016: (dollars in millions) Level 1 (1) Level 2 (2) Level 3 (3) Total Assets: Other assets: Equity securities $ 123 $ - $ - $ 123 Fixed income securities 10 566 - 576 Interest rate swaps - 71 - 71 Cross currency swaps - 45 - 45 Interest rate caps - 10 - 10 Total $ 133 $ 692 $ - $ 825 Liabilities: Other liabilities: Interest rate swaps $ - $ 236 $ - $ 236 Cross currency swaps - 1,803 - 1,803 Total $ - $ 2,039 $ - $ 2,039 (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 June 30, 2017 At December 31, 2016 (dollars in millions) Carrying Fair Value Carrying Fair Value Short- and long-term debt, excluding capital leases $ 116,537 $ 127,281 $ 107,128 $ 117,584
Notional Amounts of Outstanding Derivative Instruments	The following table sets forth the notional amounts of our outstanding derivative instruments: At June 30, 2017 At December 31, 2016 (dollars in millions) Notional Amount Notional Amount Interest rate swaps $ 16,635 $ 13,099 Cross currency swaps 13,911 12,890 Interest rate caps 2,840 2,540

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Schedule of Restricted and Performance Stock Unit Activity	The following table summarizes the Restricted Stock Unit and Performance Stock Unit activity: Restricted Stock Units Performance Stock Units (shares in thousands) Equity Awards Liability Awards Outstanding, January 1, 2017 13,308 - 17,919 Granted 5,888 22,071 6,278 Payments (4,880 ) (726 ) (6,031 ) Cancelled/Forfeited (108 ) (55 ) (1,198 ) Outstanding, June 30, 2017 14,208 21,290 16,968

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 2016 2017 2016 Service cost $ 70 $ 76 $ 37 $ 52 Amortization of prior service cost (credit) 9 3 (235 ) (113 ) Expected return on plan assets (316 ) (257 ) (13 ) (13 ) Interest cost 171 170 165 197 Remeasurement loss, net - 1,257 - 2,293 Net periodic benefit (income) cost $ (66 ) $ 1,249 $ (46 ) $ 2,416 (dollars in millions) Pension Health Care and Life Six Months Ended June 30, 2017 2016 2017 2016 Service cost $ 140 $ 156 $ 74 $ 113 Amortization of prior service cost (credit) 19 2 (470 ) (186 ) Expected return on plan assets (632 ) (528 ) (26 ) (28 ) Interest cost 342 356 330 421 Remeasurement loss, net - 1,422 - 2,293 Net periodic benefit (income) cost $ (131 ) $ 1,408 $ (92 ) $ 2,613

Equity and Accumulated Other 26

Equity and Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2017
Schedule of Changes in Components of Total Equity	Changes in the components of Total equity were as follows: Attributable Noncontrolling Total (dollars in millions) to Verizon Interests Equity Balance at January 1, 2017 $ 22,524 $ 1,508 $ 24,032 Net income 7,812 219 8,031 Other comprehensive loss (389 ) - (389 ) Comprehensive income 7,423 219 7,642 Contributed capital (83 ) - (83 ) Dividends declared (4,712 ) - (4,712 ) Common stock in treasury 121 - 121 Distributions and other (84 ) (155 ) (239 ) Balance at June 30, 2017 $ 25,189 $ 1,572 $ 26,761
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 loss on cash flow hedges Unrealized loss on Defined benefit pension and Total Balance at January 1, 2017 $ (713 ) $ (80) $ 46 $ 3,420 $ 2,673 Other comprehensive income 88 331 13 - 432 Amounts reclassified to net income - (529) (19 ) (273 ) (821 ) Net other comprehensive income (loss) 88 (198) (6 ) (273 ) (389 ) Balance at June 30, 2017 $ (625 ) $ (278) $ 40 $ 3,147 $ 2,284

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Summary of Operating Financial Information for Reportable Segments	The following table provides operating financial information for our two reportable segments: Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 External Operating Revenues Wireless Service $ 15,605 $ 16,692 $ 31,335 $ 33,461 Equipment 4,298 3,704 8,062 7,658 Other 1,306 1,216 2,588 2,412 Total Wireless 21,209 21,612 41,985 43,531 Wireline Consumer Markets 3,184 3,165 6,385 6,345 Enterprise Solutions 2,387 2,378 4,779 4,802 Partner Solutions 1,008 1,002 1,999 2,031 Business Markets 921 845 1,803 1,707 Other 74 84 135 166 Total Wireline 7,574 7,474 15,101 15,051 Total reportable segments $ 28,783 $ 29,086 $ 57,086 $ 58,582 Intersegment Revenues Wireless $ 73 $ 92 $ 175 $ 177 Wireline 228 239 469 476 Total reportable segments $ 301 $ 331 $ 644 $ 653 Total Operating Revenues Wireless $ 21,282 $ 21,704 $ 42,160 $ 43,708 Wireline 7,802 7,713 15,570 15,527 Total reportable segments $ 29,084 $ 29,417 $ 57,730 $ 59,235 Operating Income (Loss) Wireless $ 7,410 $ 8,017 $ 14,486 $ 15,897 Wireline 68 (524 ) 287 (653 ) Total reportable segments $ 7,478 $ 7,493 $ 14,773 $ 15,244
Summary of Reconciliation of Segment Assets	(dollars in millions) At June 30, At December 31, Assets Wireless $ 222,275 $ 211,345 Wireline 67,778 66,679 Total reportable segments 290,053 278,024 Corporate and other 225,651 213,787 Eliminations (262,726 ) (247,631 ) Total consolidated - reported $ 252,978 $ 244,180
Summary of Reconciliation of Segment Operating Revenues	A reconciliation of the reportable segment operating revenues to consolidated operating revenues is as follows: Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Total reportable segment operating revenues $ 29,084 $ 29,417 $ 57,730 $ 59,235 Corporate and other 1,778 1,366 3,238 2,675 Eliminations (351 ) (361 ) (751 ) (706 ) Operating results from divested businesses 37 110 145 1,499 Total consolidated operating revenues $ 30,548 $ 30,532 $ 60,362 $ 62,703
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 June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Total reportable segment operating income $ 7,478 $ 7,493 $ 14,773 $ 15,244 Corporate and other (285 ) (457 ) (599 ) (966 ) Severance, pension and benefit charges (Note 8) (607 ) (3,550 ) (607 ) (3,715 ) Net gain on sale of divested businesses (Note 2) 1,774 1,007 1,774 1,007 Acquisition and integration related charges (Note 2) (152 ) - (152 ) - Gain on spectrum license transaction (Note 2) - - 126 142 Operating results from divested businesses 24 61 98 784 Total consolidated operating income 8,232 4,554 15,413 12,496 Equity in losses of unconsolidated businesses (28 ) (20 ) (49 ) (40 ) Other expense, net (19 ) (1,826 ) (865 ) (1,794 ) Interest expense (1,218 ) (1,013 ) (2,350 ) (2,201 ) Income Before Provision For Income Taxes $ 6,967 $ 1,695 $ 12,149 $ 8,461

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) shares in Millions, $ in Billions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Basis of Presentation [Line Items]
Restricted stock units outstanding to purchase shares included in diluted earnings per common share	5	6	6	5
Accounting Standards Update 2016-15
Basis of Presentation [Line Items]
New accounting standard update					$ 1.1
Accounting Standards Update 2014-09
Basis of Presentation [Line Items]
New accounting standard update					4.2
Accounting Standards Update 2017-07
Basis of Presentation [Line Items]
New accounting standard update					$ 2.2

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Detail) $ / shares in Units, $ in Millions	Jun. 13, 2017USD ($)	May 11, 2017USD ($)$ / shares	Feb. 20, 2017USD ($)	Feb. 01, 2017USD ($)	Dec. 06, 2016USD ($)Site	Jul. 23, 2016USD ($)	May 31, 2017USD ($)	Apr. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)BrandPeople	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Feb. 28, 2017USD ($)	May 01, 2017USD ($)
Business Acquisition [Line Items]
Goodwill											$ 1,324
Proceeds from dispositions of businesses											3,512	$ 9,882
Operating Revenues									$ 30,548	$ 30,532	60,362	62,703
Operating income									8,232	4,554	15,413	12,496
Pre-tax gain on sale of business									1,774	1,007	$ 1,774	1,007
Oath
Business Acquisition [Line Items]
Number of media and technology brands owned | Brand											50
Number of people engaged | People											1,000,000,000
Advanced Wireless Services Spectrum Licenses
Business Acquisition [Line Items]
Pre-tax gain on sale of wireless licenses											$ 126	142
Acquisitions											1,000
Personal Communication Services Spectrum Licenses
Business Acquisition [Line Items]
Acquisitions							$ 100
Data Center Sale with Equinix
Business Acquisition [Line Items]
Proceeds from dispositions of businesses					$ 3,600
Operating Revenues										100	100	200
Operating income										$ 100	100	$ 100
Derecognition of net assets															$ 1,400
Selling, general and administrative expense
Business Acquisition [Line Items]
Pre-tax gain on sale of business									$ 1,800		$ 1,800
XO Holdings
Business Acquisition [Line Items]
Business acquisition, purchase price in cash													$ 100	$ 1,800
Business acquisition, cost of subsidiary acquired								$ 200
Goodwill				$ 400
Intangible assets subject to amortization				$ 200
Yahoo! Inc.
Business Acquisition [Line Items]
Aggregate purchase price	$ 4,761		$ 4,480			$ 4,830
Business acquisition, purchase price in cash	4,723
Intangible assets subject to amortization	2,586
Purchase price reduction due to Purchase Agreement Amendment			$ (350)
Post-closing liabilities arising from data breach percent retained			50.00%
Post-closing liabilities arising from shareholders percent retained			100.00%
Cash acquired	200
Yahoo! Inc. | Restricted Stock Units
Business Acquisition [Line Items]
Outstanding restricted stock units to be awarded to employees who transferred from yahoo	$ 1,000
Straight Path Communications Inc.
Business Acquisition [Line Items]
Purchase price per share | $ / shares		$ 184
Aggregate purchase price		$ 3,100
United States and Latin America | Data Center Sale with Equinix
Business Acquisition [Line Items]
Number of data center sites that were sold | Site					23
Europe, Asia-Pacific and Canada | Data Center Sale with Equinix
Business Acquisition [Line Items]
Number of data center sites | Site					27

Consideration and Preliminary I

Consideration and Preliminary Identification of Assets Acquired, Including Cash Acquired and Liabilities Assumed as well as Fair Value Of Noncontrolling Interests (Detail) - USD ($) $ in Millions	Jun. 13, 2017	Feb. 20, 2017	Jul. 23, 2016	Jun. 30, 2017	Dec. 31, 2016
Assets acquired:
Goodwill				$ 28,527	$ 27,205
Yahoo! Inc.
Business Acquisition [Line Items]
Cash payment to Yahoo's equity holders	$ 4,723
Estimated liabilities to be paid	38
Total consideration	4,761	$ 4,480	$ 4,830
Assets acquired:
Goodwill	874
Intangible assets subject to amortization	2,586
Property, plant, and equipment	1,796
Other	1,362
Total assets acquired	6,618
Liabilities assumed:
Total liabilities assumed	1,824
Net assets acquired:	4,794
Noncontrolling interest	(33)
Total consideration	$ 4,761

Summary of Severance, Acquisiti

Summary of Severance, Acquisition and Integration Related Charges Related to Acquisition (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Business Acquisition [Line Items]
Integration costs	$ 152	$ 152
Yahoo! Inc.
Business Acquisition [Line Items]
Severance	370	370
Transaction costs	66	66
Integration costs	56	56
Acquisition and Integration Related Charges	$ 492	$ 492

Changes in Carrying Amount of W

Changes in Carrying Amount of Wireless Licenses (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Indefinite-lived Intangible Assets [Line Items]
Beginning balance	$ 86,673
Ending balance	88,004
Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Beginning balance	86,673
Acquisitions (Note 2)	76
Capitalized interest on wireless licenses	239
Reclassifications, adjustments and other	1,016
Ending balance	$ 88,004

Wireless Licenses, Goodwill a33

Wireless Licenses, Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	Feb. 01, 2017	Jun. 30, 2017	Jun. 13, 2017
Indefinite-lived Intangible Assets [Line Items]
Acquisitions (Note 2)		$ 1,324
Yahoo! Inc.
Indefinite-lived Intangible Assets [Line Items]
Other intangible assets			$ 2,586
XO Holdings
Indefinite-lived Intangible Assets [Line Items]
Acquisitions (Note 2)	$ 400
Other intangible assets	$ 200
Wireline
Indefinite-lived Intangible Assets [Line Items]
Acquisitions (Note 2)		432
Wireline | XO Holdings
Indefinite-lived Intangible Assets [Line Items]
Acquisitions (Note 2)		400
Wireline | XO Holdings | Customer Lists
Indefinite-lived Intangible Assets [Line Items]
Other intangible assets		200
Corporate and Other | Yahoo! Inc.
Indefinite-lived Intangible Assets [Line Items]
Acquisitions (Note 2)		900
Other intangible assets		2,600
Wireless Licenses
Indefinite-lived Intangible Assets [Line Items]
Acquisitions (Note 2)		76
Wireless licenses under development		$ 10,000
Average remaining renewal period of wireless license portfolio (in years)		5 years 7 months 6 days
Advanced Wireless Services Spectrum Licenses
Indefinite-lived Intangible Assets [Line Items]
Acquisitions (Note 2)		$ 1,000

Changes in Carrying Amount of G

Changes in Carrying Amount of Goodwill (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Goodwill [Line Items]
Beginning balance	$ 27,205
Acquisitions (Note 2)	1,324
Reclassifications, adjustments and other	(2)
Ending balance	28,527
Wireless
Goodwill [Line Items]
Beginning balance	18,393
Acquisitions (Note 2)	5
Ending balance	18,398
Wireline
Goodwill [Line Items]
Beginning balance	3,784
Acquisitions (Note 2)	432
Reclassifications, adjustments and other	(5)
Ending balance	4,211
Other Operating Segments
Goodwill [Line Items]
Beginning balance	5,028
Acquisitions (Note 2)	887
Reclassifications, adjustments and other	3
Ending balance	$ 5,918

Composition of Other Intangible

Composition of Other Intangible Assets, Net (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 23,865	$ 20,873
Accumulated Amortization	(12,722)	(11,976)
Net Amount	11,143	8,897
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Gross Amount	4,014	2,884
Accumulated Amortization	(529)	(480)
Net Amount	$ 3,485	2,404
Customer Lists | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	8 years
Customer Lists | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	13 years
Non-Network Internal-Use Software
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 17,249	16,135
Accumulated Amortization	(11,525)	(10,913)
Net Amount	$ 5,724	5,222
Non-Network Internal-Use Software | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	5 years
Non-Network Internal-Use Software | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	7 years
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 2,602	1,854
Accumulated Amortization	(668)	(583)
Net Amount	$ 1,934	$ 1,271
Other Intangible Assets | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	5 years
Other Intangible Assets | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life for finite-lived intangible assets, years	25 years

Amortization Expense for Other

Amortization Expense for Other Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Amortization expense for other intangible assets	$ 485	$ 401	$ 937	$ 836

Estimated Future Amortization E

Estimated Future Amortization Expense for Other Intangible Assets (Detail) $ in Millions	Jun. 30, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Remainder of 2017	$ 1,393
2,018	1,891
2,019	1,656
2,020	1,406
2,021	$ 1,222

Changes to Debt (Detail)

Changes to Debt (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Debt Instrument [Line Items]
Balance at January 1, 2017	$ 2,645
Balance at January 1, 2017	105,433
Balance at January 1, 2017	108,078
Proceeds from long-term borrowings	16,009
Proceeds from asset-backed long-term borrowings	2,878
Repayments of long-term borrowings and capital leases obligations	(10,294)	$ (11,300)
Decrease in short-term obligations, excluding current maturities	(152)	$ 610
Reclassifications of long-term debt	0
Debt acquired (Note 2)	59
Other	965
Balance at June 30, 2017	1,153
Balance at June 30, 2017	116,390
Balance at June 30, 2017	117,543
Debt Maturing within One Year
Debt Instrument [Line Items]
Balance at January 1, 2017	2,645
Proceeds from long-term borrowings	65
Repayments of long-term borrowings and capital leases obligations	(3,158)
Decrease in short-term obligations, excluding current maturities	(152)
Reclassifications of long-term debt	1,569
Debt acquired (Note 2)	7
Other	177
Balance at June 30, 2017	1,153
Long-term Debt
Debt Instrument [Line Items]
Balance at January 1, 2017	105,433
Proceeds from long-term borrowings	15,944
Proceeds from asset-backed long-term borrowings	2,878
Repayments of long-term borrowings and capital leases obligations	(7,136)
Reclassifications of long-term debt	(1,569)
Debt acquired (Note 2)	52
Other	788
Balance at June 30, 2017	$ 116,390

Debt - Additional Information (

Debt - Additional Information (Detail)	Feb. 10, 2017USD ($)	Feb. 03, 2017USD ($)Offering	Jun. 30, 2017USD ($)	May 31, 2017USD ($)	Apr. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Feb. 28, 2017USD ($)	Jun. 30, 2017USD ($)	May 31, 2017CHF (SFr)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Notes payable			$ 500,000,000					$ 500,000,000
Net pre-tax losses on early debt redemption								800,000,000
Principal amount outstanding in connection with the guarantee of debt obligations			117,543,000,000					117,543,000,000		$ 108,078,000,000
Credit Facility
Debt Instrument [Line Items]
Borrowing capacity			9,000,000,000					9,000,000,000
Amount of unused borrowing capacity under credit facility			8,900,000,000					8,900,000,000
January 2017 Cash Offers
Debt Instrument [Line Items]
Aggregate principal amount	$ 100,000,000
Amount of notes repaid	$ 100,000,000
Asset-Backed Debt
Debt Instrument [Line Items]
Asset-backed debt			7,900,000,000					7,900,000,000
Guarantee of Debentures of Operating Telephone Company Subsidiaries
Debt Instrument [Line Items]
Principal amount outstanding in connection with the guarantee of debt obligations			1,000,000,000					1,000,000,000
Guarantee of Debt Obligations of GTE Corporation
Debt Instrument [Line Items]
Principal amount outstanding in connection with the guarantee of debt obligations			800,000,000					800,000,000
Term Loan Agreement
Debt Instrument [Line Items]
Term loan agreement prepaid amount						$ 1,700,000,000
Amount drawn down						$ 3,300,000,000
Debt instrument maturity date						2019-07
ABS Financing Facility
Debt Instrument [Line Items]
Asset-backed debt			2,800,000,000	$ 300,000,000				$ 2,800,000,000
Collateral revolving period								2 years
Minimum
Debt Instrument [Line Items]
Minimum threshhold term								9 months
4.95% Notes due 2047 | February Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount							$ 1,500,000,000
Stated interest rate on debt instrument							4.95%
Debt instrument maturity date							2,047
Proceeds from long-term borrowings							$ 1,500,000,000
Senior and junior asset-backed notes | Asset Backed Notes
Debt Instrument [Line Items]
Aggregate principal amount			$ 1,300,000,000			$ 1,300,000,000		$ 1,300,000,000
Class A Senior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			1.92%			2.06%		1.92%
Debt instrument maturity period			2 years 5 months 20 days			2 years 7 months 6 days
Class B Junior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			2.22%			2.45%		2.22%
Debt instrument maturity period			3 years 1 month 9 days			3 years 4 months 17 days
Class C Junior Secured Notes | Asset Backed Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			2.38%			2.65%		2.38%
Debt instrument maturity period			3 years 4 months 2 days			3 years 7 months 21 days
Qualified Pension Plans
Debt Instrument [Line Items]
Defined benefit plan discretionary contributions by employer								$ 3,400,000,000
Verizon Communications Inc | January 2017 Exchange Offers
Debt Instrument [Line Items]
Exchange offer expiration date		Jan. 31, 2017
Number of separate private offers to exchange | Offering		18
Exchange Offer Settlement Date		Feb. 3, 2017
Amount of notes repaid		$ 600,000,000
Verizon Communications Inc | 2.946% Notes due 2022
Debt Instrument [Line Items]
Aggregate principal amount		$ 3,200,000,000
Stated interest rate on debt instrument		2.946%
Debt instrument maturity date		2,022
Verizon Communications Inc | 4.812% Notes due 2039
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,700,000,000
Stated interest rate on debt instrument		4.812%
Debt instrument maturity date		2,039
Verizon Communications Inc | 5.012% Notes due 2049
Debt Instrument [Line Items]
Aggregate principal amount		$ 4,100,000,000
Stated interest rate on debt instrument		5.012%
Debt instrument maturity date		2,049
Verizon Communications Inc | January 2017 Cash Offers
Debt Instrument [Line Items]
Aggregate principal amount		$ 500,000,000
Amount of notes repaid		$ 500,000,000
Cash offer expiration date		Jan. 31, 2017
Cash offer settlement date		Feb. 3, 2017
Verizon Communications Inc | March Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount						$ 11,000,000,000
Proceeds from long-term borrowings						10,900,000,000
Verizon Communications Inc | Floating Rate Notes Due 2020
Debt Instrument [Line Items]
Amount of notes repaid			$ 1,300,000,000
Verizon Communications Inc | 1.100% Notes Due 2017
Debt Instrument [Line Items]
Stated interest rate on debt instrument			1.10%					1.10%
Debt instrument maturity date			2,017
Amount of notes repaid			$ 500,000,000
Notes purchased price of principal amount of note, percentage			100.003%
Verizon Communications Inc | Maximum | 2.600% to 4.900% Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			4.90%					4.90%
Debt instrument maturity date								2,047
Verizon Communications Inc | Minimum | 2.600% to 4.900% Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument			2.60%					2.60%
Debt instrument maturity date								2,022
Verizon Communications Inc | Old Notes in Exchange New Notes | January 2017 Exchange Offers
Debt Instrument [Line Items]
Aggregate principal amount		$ 8,300,000,000
Verizon Communications Inc | Floating Rate Notes | March Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,400,000,000
Debt instrument maturity date						2,022
Verizon Communications Inc | 3.125% Notes Due 2022 | March Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,850,000,000
Stated interest rate on debt instrument						3.125%
Debt instrument maturity date						2,022
Verizon Communications Inc | 4.125% Notes Due 2027 | March Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount						$ 3,250,000,000
Stated interest rate on debt instrument						4.125%
Debt instrument maturity date						2,027
Verizon Communications Inc | 5.250% Notes Due 2037 | March Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount						$ 3,000,000,000
Stated interest rate on debt instrument						5.25%
Debt instrument maturity date						2,037
Verizon Communications Inc | 5.500% Notes Due 2047 | March Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,500,000,000
Stated interest rate on debt instrument						5.50%
Debt instrument maturity date						2,047
Verizon Communications Inc | Floating Rate Notes Due 2020 | May Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount				$ 1,500,000,000
Debt instrument maturity date				2,020
Proceeds from long-term borrowings				$ 1,500,000,000
Verizon Communications Inc | 1.00% Bonds due 2027 | May Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount | SFr									SFr 400,000,000
Stated interest rate on debt instrument				1.00%					1.00%
Debt instrument maturity date				2,027
Verizon Communications Inc | 0.375% Bonds due 2023 | May Debt Issuance
Debt Instrument [Line Items]
Aggregate principal amount | SFr									SFr 600,000,000
Stated interest rate on debt instrument				0.375%					0.375%
Debt instrument maturity date				2,023
Verizon Communications Inc | April Debt Redemption | 6.10% Notes due 2018
Debt Instrument [Line Items]
Stated interest rate on debt instrument					6.10%
Debt instrument maturity date					2,018
Amount of notes repaid					$ 500,000,000
Notes purchased price of principal amount of note, percentage					104.50%
Verizon Communications Inc | April Debt Redemption | 5.50% Notes due 2018
Debt Instrument [Line Items]
Stated interest rate on debt instrument					5.50%
Debt instrument maturity date					2,018
Amount of notes repaid					$ 500,000,000
Notes purchased price of principal amount of note, percentage					103.30%
Verizon Communications Inc | London Interbank Offered Rate (LIBOR) | March Debt Issuance
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate						1.00%
Verizon Communications Inc | London Interbank Offered Rate (LIBOR) | Floating Rate Notes Due 2020 | May Debt Issuance
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate				0.55%
Verizon Communications Inc | Bonds Issued | May Debt Issuance
Debt Instrument [Line Items]
Proceeds from long-term borrowings				$ 1,000,000,000
GTE LLC | February Redemption | 6.94% Debentures due 2028
Debt Instrument [Line Items]
Aggregate principal amount							$ 600,000,000
Stated interest rate on debt instrument							6.94%
Debt instrument maturity date							2,028
Amount of notes repaid							$ 200,000,000
Notes purchased price of principal amount of note, percentage							124.80%
Network Equipment | Maximum | Credit Facility
Debt Instrument [Line Items]
Amount drawn down			$ 1,000,000,000					$ 1,000,000,000
Network Equipment | Vendor Financing Facility
Debt Instrument [Line Items]
Value of purchase assets financed								200,000,000
Long-term debt maturing within one year			$ 1,200,000,000					$ 1,200,000,000

Schedule of Notes Included in E

Schedule of Notes Included in Exchange and Cash Offer (Detail) - Verizon Communications Inc $ in Millions	Feb. 03, 2017USD ($)
Old Notes in Exchange for 2022 New Notes and January Cash Offers, referred to as Group 1
Debt Instrument [Line Items]
Principal Amount Accepted for Exchange	$ 3,123
Principal Amount Accepted for Cash	$ 242	[1]
Old Notes in Exchange for 2022 New Notes and January Cash Offers, referred to as Group 1 | 5.50% Notes due 2018
Debt Instrument [Line Items]
Interest Rate	5.50%
Maturity	2,018
Principal Amount Outstanding	$ 737
Principal Amount Accepted for Exchange	83
Principal Amount Accepted for Cash	$ 8	[1]
Old Notes in Exchange for 2022 New Notes and January Cash Offers, referred to as Group 1 | 6.10% Notes due 2018
Debt Instrument [Line Items]
Interest Rate	6.10%
Maturity	2,018
Principal Amount Outstanding	$ 753
Principal Amount Accepted for Exchange	77
Principal Amount Accepted for Cash	$ 9	[1]
Old Notes in Exchange for 2022 New Notes and January Cash Offers, referred to as Group 1 | 3.65% Notes due 2018
Debt Instrument [Line Items]
Interest Rate	3.65%
Maturity	2,018
Principal Amount Outstanding	$ 2,698
Principal Amount Accepted for Exchange	508
Principal Amount Accepted for Cash	$ 97	[1]
Old Notes in Exchange for 2022 New Notes and January Cash Offers, referred to as Group 1 | 2.55% Notes due 2019
Debt Instrument [Line Items]
Interest Rate	2.55%
Maturity	2,019
Principal Amount Outstanding	$ 500
Principal Amount Accepted for Exchange	154
Principal Amount Accepted for Cash	$ 35	[1]
Old Notes in Exchange for 2022 New Notes and January Cash Offers, referred to as Group 1 | 1.375% Notes Due 2019
Debt Instrument [Line Items]
Interest Rate	1.375%
Maturity	2,019
Principal Amount Outstanding	$ 1,000
Principal Amount Accepted for Exchange	376
Principal Amount Accepted for Cash	$ 38	[1]
Old Notes in Exchange for 2022 New Notes and January Cash Offers, referred to as Group 1 | 2.625% Notes due 2020
Debt Instrument [Line Items]
Interest Rate	2.625%
Maturity	2,020
Principal Amount Outstanding	$ 3,304
Principal Amount Accepted for Exchange	1,925
Principal Amount Accepted for Cash	55	[1]
Old Notes in Exchange for 2039 New Notes and January Cash Offers, referred to as Group 2
Debt Instrument [Line Items]
Principal Amount Accepted for Exchange	1,541
Principal Amount Accepted for Cash	$ 227	[1]
Old Notes in Exchange for 2039 New Notes and January Cash Offers, referred to as Group 2 | 5.15% Notes due 2023
Debt Instrument [Line Items]
Interest Rate	5.15%
Maturity	2,023
Principal Amount Outstanding	$ 8,517
Principal Amount Accepted for Exchange	715
Principal Amount Accepted for Cash	$ 217	[1]
Old Notes in Exchange for 2039 New Notes and January Cash Offers, referred to as Group 2 | 7.75% Notes due 2030
Debt Instrument [Line Items]
Interest Rate	7.75%
Maturity	2,030
Principal Amount Outstanding	$ 930
Principal Amount Accepted for Exchange	184
Principal Amount Accepted for Cash	$ 4	[1]
Old Notes in Exchange for 2039 New Notes and January Cash Offers, referred to as Group 2 | 7.75% Notes due 2032
Debt Instrument [Line Items]
Interest Rate	7.75%
Maturity	2,032
Principal Amount Outstanding	$ 218
Principal Amount Accepted for Exchange	$ 2
Old Notes in Exchange for 2039 New Notes and January Cash Offers, referred to as Group 2 | 6.40% Notes due 2033
Debt Instrument [Line Items]
Interest Rate	6.40%
Maturity	2,033
Principal Amount Outstanding	$ 1,729
Principal Amount Accepted for Exchange	640
Principal Amount Accepted for Cash	6	[1]
Old Notes in Exchange for 2049 New Notes and January Cash Offers, referred to as Group 3
Debt Instrument [Line Items]
Principal Amount Accepted for Exchange	3,661
Principal Amount Accepted for Cash	$ 86	[1]
Old Notes in Exchange for 2049 New Notes and January Cash Offers, referred to as Group 3 | 5.85% Notes due 2035
Debt Instrument [Line Items]
Interest Rate	5.85%
Maturity	2,035
Principal Amount Outstanding	$ 1,250
Principal Amount Accepted for Exchange	447
Principal Amount Accepted for Cash	$ 4	[1]
Old Notes in Exchange for 2049 New Notes and January Cash Offers, referred to as Group 3 | 6.25% Notes due 2037
Debt Instrument [Line Items]
Interest Rate	6.25%
Maturity	2,037
Principal Amount Outstanding	$ 636
Principal Amount Accepted for Exchange	189
Principal Amount Accepted for Cash	$ 5	[1]
Old Notes in Exchange for 2049 New Notes and January Cash Offers, referred to as Group 3 | 6.40% Notes due 2038
Debt Instrument [Line Items]
Interest Rate	6.40%
Maturity	2,038
Principal Amount Outstanding	$ 750
Principal Amount Accepted for Exchange	228
Principal Amount Accepted for Cash	$ 6	[1]
Old Notes in Exchange for 2049 New Notes and January Cash Offers, referred to as Group 3 | 6.90% Notes due 2038
Debt Instrument [Line Items]
Interest Rate	6.90%
Maturity	2,038
Principal Amount Outstanding	$ 384
Principal Amount Accepted for Exchange	111
Principal Amount Accepted for Cash	$ 4	[1]
Old Notes in Exchange for 2049 New Notes and January Cash Offers, referred to as Group 3 | 8.95% Notes due 2039
Debt Instrument [Line Items]
Interest Rate	8.95%
Maturity	2,039
Principal Amount Outstanding	$ 290
Principal Amount Accepted for Exchange	$ 48
Old Notes in Exchange for 2049 New Notes and January Cash Offers, referred to as Group 3 | 7.35% Notes due 2039
Debt Instrument [Line Items]
Interest Rate	7.35%
Maturity	2,039
Principal Amount Outstanding	$ 412
Principal Amount Accepted for Exchange	225
Principal Amount Accepted for Cash	$ 1	[1]
Old Notes in Exchange for 2049 New Notes and January Cash Offers, referred to as Group 3 | 6.00% Notes due 2041
Debt Instrument [Line Items]
Interest Rate	6.00%
Maturity	2,041
Principal Amount Outstanding	$ 1,000
Principal Amount Accepted for Exchange	480
Principal Amount Accepted for Cash	$ 20	[1]
Old Notes in Exchange for 2049 New Notes and January Cash Offers, referred to as Group 3 | 6.55% Notes due 2043
Debt Instrument [Line Items]
Interest Rate	6.55%
Maturity	2,043
Principal Amount Outstanding	$ 4,245
Principal Amount Accepted for Exchange	1,933
Principal Amount Accepted for Cash	$ 46	[1]
[1]	Includes amounts acquired pursuant to the subsequent cash purchases.

Tender Offer to Purchase for Ca

Tender Offer to Purchase for Cash Any and All of Series of Notes (Detail) - March Tender Offer	Mar. 20, 2017USD ($)
Debt Instrument [Line Items]
Principal Amount Purchased	$ 3,119,000,000
Verizon Communications Inc | 8.95% Notes due 2039
Debt Instrument [Line Items]
Interest Rate	8.95%
Maturity	2,039
Principal Amount Outstanding	$ 242,000,000
Purchase Price	1,537.18	[1]
Principal Amount Purchased	$ 131,000,000
Verizon Communications Inc | 7.75% Notes due 2032
Debt Instrument [Line Items]
Interest Rate	7.75%
Maturity	2,032
Principal Amount Outstanding	$ 215,000,000
Purchase Price	1,341.68	[1]
Principal Amount Purchased	$ 36,000,000
Verizon Communications Inc | 6.55% Notes due 2043
Debt Instrument [Line Items]
Interest Rate	6.55%
Maturity	2,043
Principal Amount Outstanding	$ 2,266,000,000
Purchase Price	1,239.85	[1]
Principal Amount Purchased	$ 847,000,000
Verizon Communications Inc | 6.40% Notes due 2033
Debt Instrument [Line Items]
Interest Rate	6.40%
Maturity	2,033
Principal Amount Outstanding	$ 1,083,000,000
Purchase Price	1,216.85	[1]
Principal Amount Purchased	$ 612,000,000
Verizon Communications Inc | 7.35% Notes due 2039
Debt Instrument [Line Items]
Interest Rate	7.35%
Maturity	2,039
Principal Amount Outstanding	$ 186,000,000
Purchase Price	1,324.60	[1]
Principal Amount Purchased	$ 27,000,000
Verizon Communications Inc | 6.90% Notes due 2038
Debt Instrument [Line Items]
Interest Rate	6.90%
Maturity	2,038
Principal Amount Outstanding	$ 270,000,000
Purchase Price	1,273.29	[1]
Principal Amount Purchased	$ 49,000,000
Verizon Communications Inc | 7.75% Notes due 2030
Debt Instrument [Line Items]
Interest Rate	7.75%
Maturity	2,030
Principal Amount Outstanding	$ 742,000,000
Purchase Price	1,379.04	[1]
Principal Amount Purchased	$ 160,000,000
Verizon Communications Inc | 6.40% Notes due 2038
Debt Instrument [Line Items]
Interest Rate	6.40%
Maturity	2,038
Principal Amount Outstanding	$ 515,000,000
Purchase Price	1,206.61	[1]
Principal Amount Purchased	$ 118,000,000
Verizon Communications Inc | 6.25% Notes due 2037
Debt Instrument [Line Items]
Interest Rate	6.25%
Maturity	2,037
Principal Amount Outstanding	$ 443,000,000
Purchase Price	1,189.56	[1]
Principal Amount Purchased	$ 103,000,000
Verizon Communications Inc | 5.85% Notes due 2035
Debt Instrument [Line Items]
Interest Rate	5.85%
Maturity	2,035
Principal Amount Outstanding	$ 800,000,000
Purchase Price	1,151.79	[1]
Principal Amount Purchased	$ 249,000,000
Verizon Communications Inc | 6.00% Notes due 2041
Debt Instrument [Line Items]
Interest Rate	6.00%
Maturity	2,041
Principal Amount Outstanding	$ 500,000,000
Purchase Price	1,151.23	[1]
Principal Amount Purchased	$ 206,000,000
Verizon Communications Inc | 6.10% Notes due 2018
Debt Instrument [Line Items]
Interest Rate	6.10%
Maturity	2,018
Principal Amount Outstanding	$ 667,000,000
Purchase Price	1,048.45	[1]
Principal Amount Purchased	$ 153,000,000
Verizon Communications Inc | 5.50% Notes due 2018
Debt Instrument [Line Items]
Interest Rate	5.50%
Maturity	2,018
Principal Amount Outstanding	$ 646,000,000
Purchase Price	1,037.01	[1]
Principal Amount Purchased	$ 113,000,000
Verizon New York Inc | 7.375% Debentures due 2032
Debt Instrument [Line Items]
Interest Rate	7.375%
Maturity	2,032
Principal Amount Outstanding	$ 244,000,000
Purchase Price	1,285.50	[1]
Principal Amount Purchased	$ 39,000,000
Verizon New York Inc | 6.50% Debentures due 2028
Debt Instrument [Line Items]
Interest Rate	6.50%
Maturity	2,028
Principal Amount Outstanding	$ 72,000,000
Purchase Price	1,177.23	[1]
Principal Amount Purchased	$ 1,000,000
Verizon Pennsylvania LLC | 8.75% Debentures due 2031
Debt Instrument [Line Items]
Interest Rate	8.75%
Maturity	2,031
Principal Amount Outstanding	$ 53,000,000
Purchase Price	1,426.33	[1]
Principal Amount Purchased	$ 17,000,000
Verizon Pennsylvania LLC | 8.35% Debentures due 2030
Debt Instrument [Line Items]
Interest Rate	8.35%
Maturity	2,030
Principal Amount Outstanding	$ 48,000,000
Purchase Price	1,384.37	[1]
Principal Amount Purchased	$ 16,000,000
Verizon Pennsylvania LLC | 6.00% Debentures due 2028
Debt Instrument [Line Items]
Interest Rate	6.00%
Maturity	2,028
Principal Amount Outstanding	$ 68,000,000
Purchase Price	1,139.69	[1]
Principal Amount Purchased	$ 11,000,000
Verizon Delaware LLC | 8.625% Debentures due 2031
Debt Instrument [Line Items]
Interest Rate	8.625%
Maturity	2,031
Principal Amount Outstanding	$ 10,000,000
Purchase Price	1,416.70	[1]
Principal Amount Purchased	$ 8,000,000
Verizon Maryland LLC | 8.30% Debentures due 2031
Debt Instrument [Line Items]
Interest Rate	8.30%
Maturity	2,031
Principal Amount Outstanding	$ 24,000,000
Purchase Price	1,378.75	[1]
Principal Amount Purchased	$ 2,000,000
Verizon Maryland LLC | 8.00% Debentures due 2029
Debt Instrument [Line Items]
Interest Rate	8.00%
Maturity	2,029
Principal Amount Outstanding	$ 28,000,000
Purchase Price	1,332.71	[1]
Principal Amount Purchased	$ 1,000,000
Verizon Maryland LLC | 5.125% Debentures due 2033
Debt Instrument [Line Items]
Interest Rate	5.125%
Maturity	2,033
Principal Amount Outstanding	$ 179,000,000
Purchase Price	1,063.06	[1]
Principal Amount Purchased	$ 15,000,000
Verizon Virginia LLC | 8.375% Debentures due 2029
Debt Instrument [Line Items]
Interest Rate	8.375%
Maturity	2,029
Principal Amount Outstanding	$ 19,000,000
Purchase Price	1,367.57	[1]
Principal Amount Purchased	$ 9,000,000
Verizon Virginia LLC | 7.875% Debentures due 2022
Debt Instrument [Line Items]
Interest Rate	7.875%
Maturity	2,022
Principal Amount Outstanding	$ 57,000,000
Purchase Price	$ 1,206.35	[1]
Verizon New England Inc | 7.875% Debentures due 2029
Debt Instrument [Line Items]
Interest Rate	7.875%
Maturity	2,029
Principal Amount Outstanding	$ 173,000,000
Purchase Price	1,322.35	[1]
Principal Amount Purchased	$ 26,000,000
Verizon New Jersey Inc | 7.85% Debentures due 2029
Debt Instrument [Line Items]
Interest Rate	7.85%
Maturity	2,029
Principal Amount Outstanding	$ 87,000,000
Purchase Price	1,319.96	[1]
Principal Amount Purchased	$ 8,000,000
Verizon New Jersey Inc | 8.00% Debentures due 2022
Debt Instrument [Line Items]
Interest Rate	8.00%
Maturity	2,022
Principal Amount Outstanding	$ 146,000,000
Purchase Price	1,227.16	[1]
Principal Amount Purchased	$ 25,000,000
GTE LLC | 8.75% Debentures due 2021
Debt Instrument [Line Items]
Interest Rate	8.75%
Maturity	2,021
Principal Amount Outstanding	$ 207,000,000
Purchase Price	1,240.28	[1]
Principal Amount Purchased	$ 14,000,000
GTE LLC | 6.94% Debentures due 2028
Debt Instrument [Line Items]
Interest Rate	6.94%
Maturity	2,028
Principal Amount Outstanding	$ 413,000,000
Purchase Price	1,270.73	[1]
Principal Amount Purchased	$ 85,000,000
GTE LLC | 6.84% Debentures due 2018
Debt Instrument [Line Items]
Interest Rate	6.84%
Maturity	2,018
Principal Amount Outstanding	$ 332,000,000
Purchase Price	1,056.27	[1]
Principal Amount Purchased	$ 38,000,000
[1]	Per $1,000 principal amount of notes tendered.

Schedule of Assets and Liabilit

Schedule of Assets and Liabilities Related to Asset-backed Debt Arrangements (Detail) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Accounts Receivable, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	$ 6,472	$ 3,383
Prepaid Expenses and Other
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	396	236
Other Assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	3,071	2,383
Accounts Payable and Accrued Liabilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	4	4
Long-term Debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	$ 7,869	$ 4,988

Device Payment Plan Receivables

Device Payment Plan Receivables, Net (Detail) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 14,505	$ 11,797
Unamortized imputed interest	(654)	(511)
Device payment plan agreement receivables, net of unamortized imputed interest	13,851	11,286
Allowance for credit losses	(715)	(688)	$ (578)	$ (444)
Device payment plan agreement receivables, net	13,136	10,598
Accounts Receivable, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, net	8,548	6,140
Other Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, net	$ 4,588	$ 4,458

Wireless Device Payment Plans -

Wireless Device Payment Plans - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables transferred to ABS Entities	$ 9,500,000,000		$ 9,500,000,000
Number of customer tenure days			210 days
Receivables derecognized under receivable securitization program	1,500,000,000	$ 8,400,000,000	$ 1,500,000,000	$ 8,400,000,000
Total portfolio of device payment plan agreement receivables	16,000,000,000		16,000,000,000
Device payment plan agreement receivables sold, net	0	700,000,000	0	3,300,000,000
Cash proceeds received from new transfers				2,000,000,000
Cash proceeds received from reinvested collections		$ 600,000,000		900,000,000
Deferred purchase price recorded				$ 400,000,000
Deferred purchase price receivable collected	300,000,000		600,000,000
Finance receivables collected and remitted, net of fees			9,600,000,000
Cash proceeds received, net of remittances			500,000,000
Maximum exposure to loss related to involvement with sellers	1,100,000,000		1,100,000,000
Other Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred purchase price receivable					$ 400,000,000
Prepaid Expenses and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred purchase price receivable	$ 1,100,000,000		$ 1,100,000,000		$ 1,200,000,000

Balance and Aging of Device Pay

Balance and Aging of Device Payment Plan Agreement Receivables on Gross Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, gross	$ 14,505	$ 11,797
Unbilled
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, current	13,714	11,089
Billed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Device payment plan agreement receivables, current	659	557
Device payment plan agreement receivables, past due	$ 132	$ 151

Activity in Allowance for Credi

Activity in Allowance for Credit Losses for Device Payment Plan Agreement Receivables (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at January 1, 2017	$ 688	$ 444
Bad debt expense	315	310
Write-offs	(288)	(210)
Allowance related to receivables sold		28
Other		6
Balance at June 30, 2017	$ 715	$ 578

Schedule of Assets and Liabil47

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions		Jun. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis		$ 791	$ 825
Fair value of liabilities measured on a recurring basis		1,581	2,039
Other Assets | Interest Rate Caps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis		4	10
Other Assets | Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis		77	123
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		349	576
Other 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		169	71
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		192	45
Other Liabilities | Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis		181	236
Other Liabilities | Cross Currency Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis		1,400	1,803
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	[1]	77	133
Level 1 | Other Assets | Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	[1]	77	123
Level 1 | 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	[1]		10
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	[2]	714	692
Fair value of liabilities measured on a recurring basis	[2]	1,581	2,039
Level 2 | Other Assets | Interest Rate Caps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets measured on a recurring basis	[2]	4	10
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	[2]	349	566
Level 2 | Other 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	[2]	169	71
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	[2]	192	45
Level 2 | Other Liabilities | Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	[2]	181	236
Level 2 | Other Liabilities | Cross Currency Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities measured on a recurring basis	[2]	$ 1,400	$ 1,803
[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 Lo

Fair Value of Short Term and Long Term Debt Excluding Capital Leases (Detail) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Estimate of Fair Value Measurement | Excluding Capital Leases
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short- and long-term debt	$ 127,281	$ 117,584
Carrying Amount, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short- and long-term debt	$ 116,537	$ 107,128

Notional Amounts of Outstanding

Notional Amounts of Outstanding Derivative Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Interest Rate Swaps
Derivative [Line Items]
Notional amount	$ 16,635	$ 13,099
Cross Currency Swaps
Derivative [Line Items]
Notional amount	13,911	12,890
Interest Rate Caps
Derivative [Line Items]
Notional amount	$ 2,840	$ 2,540

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative liability fair value of collateral	$ 0		$ 0			$ 200,000,000
Net Investment Hedges | Euro Denominated Debt
Derivatives, Fair Value [Line Items]
Notional amount	800,000,000		800,000,000			800,000,000
Forward Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Pre-tax gains (loss) recognized in other comprehensive income (loss)		$ (100,000,000)	(200,000,000)
New Cross Currency Swaps | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Notional amount	1,000,000,000		1,000,000,000
New Interest Rate Swaps | Fair Value Hedges
Derivatives, Fair Value [Line Items]
Notional amount					$ 3,500,000,000
Cross Currency Swaps
Derivatives, Fair Value [Line Items]
Notional amount	13,911,000,000		13,911,000,000			$ 12,890,000,000
Pre-tax gains (loss) recognized in other comprehensive income (loss)	400,000,000	$ (400,000,000)	500,000,000	$ (200,000,000)
New Interest Rate Caps
Derivatives, Fair Value [Line Items]
Notional amount	$ 300,000,000		$ 300,000,000

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Billions	6 Months Ended
	Jun. 30, 2017USD ($)Installment$ / shares	May 31, 2017shares
Verizon 2009 Plan Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved under stock based compensation | shares		91,000,000
Restricted Stock Units and Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to the unvested portion of RSUs and PSUs | $	$ 1.3
Weighted-average period of unrecognized compensation expense related to the unvested portion of RSUs and PSUs (in years)	2 years
Restricted Stock Units Equity Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal vesting installments | Installment	3
Weighted average grant date fair value per unit | $ / shares	$ 50.01

Restricted and Performance Stoc

Restricted and Performance Stock Unit Activity (Detail) shares in Thousands	6 Months Ended
	Jun. 30, 2017shares
Restricted Stock Units Equity Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance	13,308
Granted	5,888
Payments	(4,880)
Cancelled/Forfeited	(108)
Ending Balance	14,208
Restricted Stock Units Liability Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	22,071
Payments	(726)
Cancelled/Forfeited	(55)
Ending Balance	21,290
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance	17,919
Granted	6,278
Payments	(6,031)
Cancelled/Forfeited	(1,198)
Ending Balance	16,968

Benefit or Income Cost Related

Benefit or Income Cost Related to Pension and Postretirement Health Care and Life Insurance Plans (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 70	$ 76	$ 140	$ 156
Amortization of prior service cost (credit)	9	3	19	2
Expected return on plan assets	(316)	(257)	(632)	(528)
Interest cost	171	170	342	356
Remeasurement loss, net		1,257		1,422
Net periodic benefit (income) cost	(66)	1,249	(131)	1,408
Health Care And Life
Defined Benefit Plan Disclosure [Line Items]
Service cost	37	52	74	113
Amortization of prior service cost (credit)	(235)	(113)	(470)	(186)
Expected return on plan assets	(13)	(13)	(26)	(28)
Interest cost	165	197	330	421
Remeasurement loss, net		2,293		2,293
Net periodic benefit (income) cost	$ (46)	$ 2,416	$ (92)	$ 2,613

Employee Benefits - Additional

Employee Benefits - Additional Information (Detail) $ in Millions	May 31, 2016USD ($)plan	Apr. 01, 2016USD ($)plan	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)plan	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)plan	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Severance, Pension and Benefit (Credits) Charges			$ 607	$ 3,550	$ 607	$ 3,715
Pension and other postretirement benefit remeasurement (credits) charges						$ 200
Amount paid in severance benefits over the period			200		400
Post employment benefits liability			700		700
Weighted Average
Defined Benefit Plan Disclosure [Line Items]
Discount rate assumption	3.99%						4.60%
Pension and Benefit Plans | Lump Sum Distributions
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges	$ 100
Number of defined benefit pension plans | plan	3			1		1
Pension and Benefit Plans | Defined Benefit Plan Curtailments
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges		$ 800
Number of defined benefit pension plans | plan		3
Number of other postretirement benefit plans | plan		1
Pension and Benefit Plans | Contractual Healthcare Caps and Bargain
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges	$ 2,700
Number of defined benefit pension plans | plan	2
Number of other postretirement benefit plans | plan	3
Pension and Benefit Plans | Charges Primarily Driven by Updated Health Care Trend Cost Assumptions
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit remeasurement (credits) charges	$ 900
Qualified Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan contributions by employer			$ 200		3,800
Defined benefit plan discretionary contributions by employer					3,400
Minimum expected cash contribution to qualified pension benefits plan					600
Expected cash contribution to qualified pension benefits plan					$ 4,000

Changes in Components of Total

Changes in Components of Total equity (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Equity Note [Line Items]
Balance at January 1, 2017			$ 24,032
Net income	$ 4,478	$ 831	8,031	$ 5,261
Other comprehensive loss			(389)
Total Comprehensive Income	4,153	$ 3,219	7,642	$ 7,558
Contributed capital			(83)
Dividends declared			(4,712)
Common stock in treasury			121
Distributions and other			(239)
Balance at June 30, 2017	26,761		26,761
Verizon
Equity Note [Line Items]
Balance at January 1, 2017			22,524
Net income			7,812
Other comprehensive loss			(389)
Total Comprehensive Income			7,423
Contributed capital			(83)
Dividends declared			(4,712)
Common stock in treasury			121
Distributions and other			(84)
Balance at June 30, 2017	25,189		25,189
Noncontrolling Interests
Equity Note [Line Items]
Balance at January 1, 2017			1,508
Net income			219
Total Comprehensive Income			219
Distributions and other			(155)
Balance at June 30, 2017	$ 1,572		$ 1,572

Equity and Accumulated Other 56

Equity and Accumulated Other Comprehensive Income - Additional Information (Detail) - shares	6 Months Ended
	Jun. 30, 2017	Mar. 03, 2017
Equity and Comprehensive Income [Line Items]
Stock repurchase program, number of shares authorized to be repurchased		100,000,000
Common shares issued from Treasury stock	2,700,000

Changes in Balances of Accumula

Changes in Balances of Accumulated Other Comprehensive Income by Component (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2017	$ 24,032
Net other comprehensive income (loss)	(389)
Balance at June 30, 2017	26,761
Foreign currency translation adjustments
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2017	(713)
Other comprehensive income	88
Net other comprehensive income (loss)	88
Balance at June 30, 2017	(625)
Unrealized loss on cash flow hedges
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2017	(80)
Other comprehensive income	331
Amounts reclassified to net income	(529)
Net other comprehensive income (loss)	(198)
Balance at June 30, 2017	(278)
Unrealized loss on marketable securities
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2017	46
Other comprehensive income	13
Amounts reclassified to net income	(19)
Net other comprehensive income (loss)	(6)
Balance at June 30, 2017	40
Defined benefit pension and postretirement plans
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2017	3,420
Amounts reclassified to net income	(273)
Net other comprehensive income (loss)	(273)
Balance at June 30, 2017	3,147
Accumulated Other Comprehensive Income
Equity And Accumulated Other Comprehensive Income [Line Items]
Balance at January 1, 2017	2,673
Other comprehensive income	432
Amounts reclassified to net income	(821)
Net other comprehensive income (loss)	(389)
Balance at June 30, 2017	$ 2,284

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)Segment	Jun. 30, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment			2
Segment reporting information, revenue	$ 30,548	$ 30,532	$ 60,362	$ 62,703
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 during the three and six months ended June 30, 2017 and 2016.
Wireline
Segment Reporting Information [Line Items]
Segment reporting information, revenue	7,802	7,713	$ 15,570	15,527
Fios revenues | Wireline
Segment Reporting Information [Line Items]
Segment reporting information, revenue	$ 2,900	$ 2,800	$ 5,800	$ 5,500

Operating Financial Information

Operating Financial Information for Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Operating Revenues	$ 30,548	$ 30,532	$ 60,362	$ 62,703
Operating income (Loss)	8,232	4,554	15,413	12,496
Wireless
Segment Reporting Information [Line Items]
Operating Revenues	21,282	21,704	42,160	43,708
Operating income (Loss)	7,410	8,017	14,486	15,897
Wireline
Segment Reporting Information [Line Items]
Operating Revenues	7,802	7,713	15,570	15,527
Operating income (Loss)	68	(524)	287	(653)
Operating Segments
Segment Reporting Information [Line Items]
Operating Revenues	29,084	29,417	57,730	59,235
Operating income (Loss)	7,478	7,493	14,773	15,244
Operating Segments | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	21,209	21,612	41,985	43,531
Operating Segments | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	7,574	7,474	15,101	15,051
Operating Segments | Reportable Segment
Segment Reporting Information [Line Items]
Operating Revenues	28,783	29,086	57,086	58,582
Operating Segments | Service | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	15,605	16,692	31,335	33,461
Operating Segments | Equipment Revenue | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	4,298	3,704	8,062	7,658
Operating Segments | Other External Operating Non-Service Revenues | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	1,306	1,216	2,588	2,412
Operating Segments | Consumer Markets | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	3,184	3,165	6,385	6,345
Operating Segments | Enterprise Solutions | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	2,387	2,378	4,779	4,802
Operating Segments | Partner Solutions | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	1,008	1,002	1,999	2,031
Operating Segments | Business Markets | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	921	845	1,803	1,707
Operating Segments | Other | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	74	84	135	166
Operating Segments | Intersegment Revenues
Segment Reporting Information [Line Items]
Operating Revenues	301	331	644	653
Operating Segments | Intersegment Revenues | Wireless
Segment Reporting Information [Line Items]
Operating Revenues	73	92	175	177
Operating Segments | Intersegment Revenues | Wireline
Segment Reporting Information [Line Items]
Operating Revenues	$ 228	$ 239	$ 469	$ 476

Reconciliation of Segment Asset

Reconciliation of Segment Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Assets	$ 252,978	$ 244,180
Operating Segments
Segment Reporting Information [Line Items]
Assets	290,053	278,024
Operating Segments | Wireless
Segment Reporting Information [Line Items]
Assets	222,275	211,345
Operating Segments | Wireline
Segment Reporting Information [Line Items]
Assets	67,778	66,679
Corporate and Other
Segment Reporting Information [Line Items]
Assets	225,651	213,787
Eliminations
Segment Reporting Information [Line Items]
Assets	$ (262,726)	$ (247,631)

Summary of Reconciliation of Se

Summary of Reconciliation of Segment Operating Revenues (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	$ 30,548	$ 30,532	$ 60,362	$ 62,703
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	29,084	29,417	57,730	59,235
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	1,778	1,366	3,238	2,675
Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	(351)	(361)	(751)	(706)
Operating Results from Divested Businesses
Segment Reporting, Revenue Reconciling Item [Line Items]
Segment reporting information, revenue	$ 37	$ 110	$ 145	$ 1,499

Reconciliation of Total Reporta

Reconciliation of Total Reportable Segments Operating Income to Consolidated Income before Provision for Income Taxes (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Severance, pension and benefit charges (Note 8)	$ (607)	$ (3,550)	$ (607)	$ (3,715)
Net gain on sale of divested businesses (Note 2)	1,774	1,007	1,774	1,007
Acquisition and integration related charges (Note 2)	(152)		(152)
Operating income	8,232	4,554	15,413	12,496
Equity in losses of unconsolidated businesses	(28)	(20)	(49)	(40)
Other expense, net	(19)	(1,826)	(865)	(1,794)
Interest expense	(1,218)	(1,013)	(2,350)	(2,201)
Income Before Provision For Income Taxes	6,967	1,695	12,149	8,461
Advanced Wireless Services Spectrum Licenses
Segment Reporting Information [Line Items]
Gain on spectrum license transaction (Note 2)			126	142
Operating Segments
Segment Reporting Information [Line Items]
Operating income	7,478	7,493	14,773	15,244
Corporate and Other
Segment Reporting Information [Line Items]
Operating income	(285)	(457)	(599)	(966)
Operating Income Generated By Assets Sold
Segment Reporting Information [Line Items]
Operating income	$ 24	$ 61	$ 98	$ 784

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2017LegalMatter
Loss Contingencies [Line Items]
Approximate number of federal district court actions alleged for patent infringement	35
Guarantee obligations, year term (in years)	30 years