2019 Q4 Form 10-K Financial Statement

#000073271221000012 Filed on February 25, 2021

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q2 2019 Q1
Revenue $34.78B $32.07B $32.13B
YoY Change 1.44% -0.41% 1.12%
Cost Of Revenue $15.63B $12.72B $12.99B
YoY Change 2.22% -4.55% 63.48%
Gross Profit $19.14B $19.35B $19.14B
YoY Change 0.81% 2.52% -19.68%
Gross Profit Margin 55.05% 60.33% 59.57%
Selling, General & Admin $8.010B $7.268B $7.198B
YoY Change 8.17% -4.43% 5.17%
% of Gross Profit 41.84% 37.56% 37.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.105B $4.232B $4.231B
YoY Change -5.68% -2.71% -2.15%
% of Gross Profit 21.44% 21.87% 22.11%
Operating Expenses $12.12B $7.268B $7.198B
YoY Change 3.06% -4.43% 5.17%
Operating Profit $6.639B $7.850B $7.709B
YoY Change 942.23% 18.63% 4.9%
Interest Expense -$1.127B $1.215B $1.210B
YoY Change 2.27% -0.57% 0.75%
% of Operating Profit -16.98% 15.48% 15.7%
Other Income/Expense, Net $191.0M -$1.312B $295.0M
YoY Change 6.7% -464.44% -493.33%
Pretax Income $3.712B $5.310B $6.788B
YoY Change 171.54% -3.93% 12.12%
Income Tax -$1.505B $1.236B $1.628B
% Of Pretax Income -40.54% 23.28% 23.98%
Net Earnings $5.095B $3.944B $5.032B
YoY Change 162.76% -4.27% 10.72%
Net Earnings / Revenue 14.65% 12.3% 15.66%
Basic Earnings Per Share $1.23 $0.95 $1.22
Diluted Earnings Per Share $1.23 $0.95 $1.22
COMMON SHARES
Basic Shares Outstanding 4.138B shares 4.138B shares
Diluted Shares Outstanding 4.139B shares 4.140B shares

Balance Sheet

Concept 2019 Q4 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.594B $1.949B $2.322B
YoY Change -5.5% 11.37% 20.75%
Cash & Equivalents $2.594B $1.949B $2.322B
Short-Term Investments $0.00
Other Short-Term Assets $7.180B $4.454B $4.419B
YoY Change 52.9% 7.35% -15.38%
Inventory $1.422B $1.167B $1.417B
Prepaid Expenses
Receivables $25.43B $24.93B $24.47B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $37.47B $33.31B $33.40B
YoY Change 8.19% 7.88% 7.65%
LONG-TERM ASSETS
Property, Plant & Equipment $91.92B $87.82B $87.85B
YoY Change 2.94% 0.04% -0.08%
Goodwill $24.39B $24.64B $24.64B
YoY Change -0.91% -15.63% -15.4%
Intangibles
YoY Change
Long-Term Investments $558.0M $650.0M $674.0M
YoY Change -16.84% -17.41% -32.19%
Other Assets $10.14B $10.43B $9.669B
YoY Change -13.45% -4.72% -11.83%
Total Long-Term Assets $254.3B $249.8B $250.6B
YoY Change 10.45% 7.47% 7.31%
TOTAL ASSETS
Total Short-Term Assets $37.47B $33.31B $33.40B
Total Long-Term Assets $254.3B $249.8B $250.6B
Total Assets $291.7B $283.1B $283.9B
YoY Change 10.16% 7.52% 7.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.725B $17.63B $18.66B
YoY Change 6.82% -4.99% 9.45%
Accrued Expenses $5.984B $3.154B $2.997B
YoY Change 0.61%
Deferred Revenue $4.651B
YoY Change 10.55%
Short-Term Debt $0.00 $800.0M $0.00
YoY Change -100.0%
Long-Term Debt Due $10.78B $7.973B $8.614B
YoY Change 49.89% 45.87% 36.23%
Total Short-Term Liabilities $44.87B $38.21B $38.61B
YoY Change 18.29% 18.2% 22.12%
LONG-TERM LIABILITIES
Long-Term Debt $100.7B $104.6B $105.0B
YoY Change -4.87% -4.19% -6.82%
Other Long-Term Liabilities $12.26B $11.83B $12.11B
YoY Change -11.91% -10.39% -1.88%
Total Long-Term Liabilities $184.0B $186.9B $187.9B
YoY Change 6.87% 5.38% 4.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.87B $38.21B $38.61B
Total Long-Term Liabilities $184.0B $186.9B $187.9B
Total Liabilities $228.9B $225.2B $226.5B
YoY Change 8.93% 7.36% 6.75%
SHAREHOLDERS EQUITY
Retained Earnings $53.15B $47.95B $43.95B
YoY Change 22.06% 15.09% 16.07%
Common Stock $429.0M $429.0M $429.0M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.820B $6.823B $6.825B
YoY Change -2.38% -2.39% -2.39%
Treasury Stock Shares 155.6M shares
Shareholders Equity $61.40B $56.58B $55.86B
YoY Change
Total Liabilities & Shareholders Equity $291.7B $283.1B $283.9B
YoY Change 10.16% 7.52% 7.35%

Cashflow Statement

Concept 2019 Q4 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $5.095B $3.944B $5.032B
YoY Change 162.76% -4.27% 10.72%
Depreciation, Depletion And Amortization $4.105B $4.232B $4.231B
YoY Change -5.68% -2.71% -2.15%
Cash From Operating Activities $8.998B $8.755B $7.081B
YoY Change 11.16% -10.53% 6.51%
INVESTING ACTIVITIES
Capital Expenditures -$6.206B -$3.794B -$4.372B
YoY Change 30.54% 9.31% -20.83%
Acquisitions $25.00M
YoY Change -21.88%
Other Investing Activities $782.0M $8.000M $406.0M
YoY Change -1877.27% -71.43% -250.93%
Cash From Investing Activities -$5.424B -$3.786B -$4.803B
YoY Change 13.05% 9.96% -9.12%
FINANCING ACTIVITIES
Cash Dividend Paid $2.489B
YoY Change 3.41%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.863B -5.386B -$2.657B
YoY Change 30.68% -17.76% 101.9%
NET CHANGE
Cash From Operating Activities 8.998B 8.755B $7.081B
Cash From Investing Activities -5.424B -3.786B -$4.803B
Cash From Financing Activities -3.863B -5.386B -$2.657B
Net Change In Cash -289.0M -417.0M -$379.0M
YoY Change -184.75% 101.45% -906.38%
FREE CASH FLOW
Cash From Operating Activities $8.998B $8.755B $7.081B
Capital Expenditures -$6.206B -$3.794B -$4.372B
Free Cash Flow $15.20B $12.55B $11.45B
YoY Change 18.33% -5.33% -5.89%

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CY2019Q4 us-gaap Treasury Stock Value
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CY2020 us-gaap Provision For Doubtful Accounts
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CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 vz Proceeds From Issuance Of Longterm Debt Excluding Assetbacked Debt
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CY2019 vz Proceeds From Issuance Of Longterm Debt Excluding Assetbacked Debt
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CY2020 us-gaap Proceeds From Issuance Of Secured Debt
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CY2019 us-gaap Proceeds From Issuance Of Secured Debt
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CY2018 us-gaap Proceeds From Issuance Of Secured Debt
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CY2019 vz Repayments Of Long Term Borrowings And Finance Lease Obligations
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CY2018 vz Repayments Of Long Term Borrowings And Finance Lease Obligations
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020 us-gaap Number Of Reportable Segments
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CY2020 us-gaap Lease Cost
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CY2020 us-gaap Prior Period Reclassification Adjustment Description
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<div style="margin-bottom:5pt"><span style="color:#da291c;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We have reclassified certain prior year amounts to conform to the current year presentation.</span></div>
CY2020 us-gaap Use Of Estimates
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<div style="margin-bottom:5pt"><span style="color:#da291c;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We prepare our financial statements using U.S. generally accepted accounting principles (GAAP), which requires management to make estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions take into account historical and forward-looking factors that the Company believes are reasonable, including but not limited to the potential impacts arising from the novel coronavirus (COVID-19) pandemic and public and private sector policies and initiatives aimed at reducing its transmission. As the extent and duration of the impacts from COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from those estimates.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Examples of significant estimates include the allowance for credit losses, the recoverability of intangible assets, property, plant and equipment, and other long-lived assets, the incremental borrowing rate for the lease liability, fair value measurements, including those related to financial instruments, goodwill, spectrum licenses and intangible assets, unrecognized tax benefits, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations.</span></div>
CY2020 vz Contract With Customer Number Of Payment Plans
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CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2000000 shares
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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19581000000 USD
CY2020 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
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<div style="margin-bottom:5pt"><span style="color:#da291c;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Allowance for Credit Losses</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Prior to January 1, 2020, accounts receivable were recorded at cost less an allowance for doubtful accounts. The gross amount of accounts receivable and corresponding allowance for doubtful accounts were presented separately in the consolidated balance sheets. We maintained allowances for uncollectible accounts receivable, including our direct-channel device payment plan agreement receivables, for estimated losses resulting from the failure or inability of our customers to make required payments. Indirect-channel device payment receivables are considered financial instruments and were initially recorded at fair value net of imputed interest, and credit losses were recorded as incurred. However, receivable balances were assessed quarterly for impairment and an allowance was recorded if the receivable was considered impaired. Subsequent to January 1, 2020, accounts receivable are recorded at amortized cost less an allowance for credit losses that are not expected to be recovered. The gross amount of accounts receivable and corresponding allowance for credit losses are presented separately in the consolidated balance sheets. We maintain allowances for credit losses resulting from the expected failure or inability of our customers to make required payments. We recognize the allowance for credit losses at inception and reassess quarterly based on management’s expectation of the asset’s collectability. The allowance is based on multiple factors including historical experience with bad debts, the credit quality of the customer base, the aging of such receivables and current macroeconomic conditions, such as the COVID-19 pandemic, as well as management’s expectations of conditions in the future, if applicable. Our allowance for credit losses is based on management’s assessment of the collectability of assets pooled together with similar risk characteristics.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We pool our device payment plan agreement receivables based on the credit quality indicators and shared risk characteristics of "new customers" and "existing customers." New customers are defined as customers who have been with Verizon for less than 210 days if they are classified as a Consumer segment customer, or less than 12 months if they are classified as a Business segment customer. Existing customers are defined as customers who have been with Verizon for more than 210 days if they are in Consumer, or more than 12 months if they are in Business. We record an allowance to reduce the receivables to the amount that is expected to be collectible. For device payment plan agreement receivables, we record bad debt expense based on a default and loss calculation using our proprietary loss model. The expected loss rate is determined based on customer credit scores and other qualitative factors as noted above. The loss rate is assigned individually on a customer by customer basis and the custom credit scores are then aggregated by vintage and used in our proprietary loss model to calculate the weighted-average loss rate used for determining the allowance balance.</span></div>We monitor the collectability of our wireless service receivables as one overall pool. Wireline service receivables are disaggregated and pooled by the following customer groups: consumer, small and medium business, global enterprise, public sector and wholesale. For wireless service receivables and wireline consumer and small and medium business receivables, the allowance is calculated based on a 12 month rolling average write-off balance multiplied by the average life-cycle of an account from billing to write-off. The risk of loss is assessed over the contractual life of the receivables and we adjust the historical loss amounts for current and future conditions based on management’s qualitative considerations. For global enterprise, public sector and wholesale wireline receivables, the allowance for credit losses is based on historical write-off experience and individual customer credit risk, if applicable. We consider multiple factors in determining the allowance as discussed above.
CY2019Q4 us-gaap Other Assets Noncurrent
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CY2019Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
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CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2018Q4 us-gaap Minority Interest
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CY2019Q1 us-gaap Minority Interest
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CY2018Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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3289000000 USD
CY2017Q4 us-gaap Minority Interest
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1591000000 USD
CY2018Q1 us-gaap Minority Interest
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1635000000 USD
CY2020 us-gaap Number Of Reportable Segments
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2 plan
CY2020 vz Revenues From Leasing Arrangements Captive Reinsurance Arrangements And Interest On Equipment Financed
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3000000000.0 USD
CY2019 vz Revenues From Leasing Arrangements Captive Reinsurance Arrangements And Interest On Equipment Financed
RevenuesFromLeasingArrangementsCaptiveReinsuranceArrangementsAndInterestOnEquipmentFinanced
3100000000 USD
CY2018 vz Revenues From Leasing Arrangements Captive Reinsurance Arrangements And Interest On Equipment Financed
RevenuesFromLeasingArrangementsCaptiveReinsuranceArrangementsAndInterestOnEquipmentFinanced
4500000000 USD
CY2020 us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
Contracts for wireless services are generally either month-to-month and cancellable at any time (typically under a device payment plan) or contain terms ranging from greater than one month to up to two years (typically under a fixed-term plan).
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
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17400000000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
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6900000000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
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1500000000 USD
CY2020Q4 vz Accounts Receivable From Contract With Customer
AccountsReceivableFromContractWithCustomer
12029000000 USD
CY2019Q4 vz Accounts Receivable From Contract With Customer
AccountsReceivableFromContractWithCustomer
12078000000 USD
CY2019Q1 vz Accounts Receivable From Contract With Customer
AccountsReceivableFromContractWithCustomer
12104000000 USD
CY2020Q4 vz Financing Receivable From Contract With Customer
FinancingReceivableFromContractWithCustomer
10358000000 USD
CY2019Q4 vz Financing Receivable From Contract With Customer
FinancingReceivableFromContractWithCustomer
11741000000 USD
CY2019Q1 vz Financing Receivable From Contract With Customer
FinancingReceivableFromContractWithCustomer
8940000000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
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937000000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
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1150000000 USD
CY2019Q1 us-gaap Contract With Customer Asset Net
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1003000000 USD
CY2020Q4 us-gaap Contract With Customer Liability
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5598000000 USD
CY2019Q4 us-gaap Contract With Customer Liability
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5307000000 USD
CY2019Q1 us-gaap Contract With Customer Liability
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4943000000 USD
CY2020 vz Contract With Customer Asset Period Increase Decrease
ContractWithCustomerAssetPeriodIncreaseDecrease
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CY2020 us-gaap Contract With Customer Asset Credit Loss Expense
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75000000 USD
CY2019 vz Contract With Customer Asset Period Increase Decrease
ContractWithCustomerAssetPeriodIncreaseDecrease
147000000 USD
CY2019 us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
113000000 USD
CY2020 vz Contract With Customer Liability Period Increase Decrease
ContractWithCustomerLiabilityPeriodIncreaseDecrease
291000000 USD
CY2019 vz Contract With Customer Liability Period Increase Decrease
ContractWithCustomerLiabilityPeriodIncreaseDecrease
364000000 USD
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4300000000 USD
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4200000000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
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937000000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
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1150000000 USD
CY2020Q4 us-gaap Contract With Customer Liability
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5598000000 USD
CY2019Q4 us-gaap Contract With Customer Liability
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5307000000 USD
CY2020Q4 us-gaap Capitalized Contract Cost Net
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4542000000 USD
CY2019Q4 us-gaap Capitalized Contract Cost Net
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4489000000 USD
CY2020 us-gaap Capitalized Contract Cost Amortization
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3100000000 USD
CY2019 us-gaap Capitalized Contract Cost Amortization
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2700000000 USD
CY2019 us-gaap Capitalized Contract Cost Impairment Loss
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CY2020 us-gaap Capitalized Contract Cost Impairment Loss
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CY2019 vz Number Of Millimeter Wave Spectrum License Auctions Participated
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2 auction
CY2020Q1 vz Number Of Licenses Acquired
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CY2018Q4 us-gaap Goodwill
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CY2019Q1 us-gaap Goodwill Acquired During Period
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1000000 USD
CY2019Q1 us-gaap Goodwill
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CY2019Q2 us-gaap Goodwill Transfers
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CY2019Q2 us-gaap Goodwill
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24635000000 USD
us-gaap Goodwill Acquired During Period
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us-gaap Goodwill Impairment Loss
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186000000 USD
us-gaap Goodwill Other Increase Decrease
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CY2019Q4 us-gaap Goodwill
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CY2020 us-gaap Goodwill Acquired During Period
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CY2020 us-gaap Goodwill Other Increase Decrease
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12000000 USD
CY2020Q4 us-gaap Goodwill
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24773000000 USD
CY2019Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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4800000000 USD
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
4800000000 USD
CY2019Q4 us-gaap Goodwill Impairment Loss
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186000000 USD
CY2019Q4 us-gaap Goodwill Impairment Loss Net Of Tax
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176000000 USD
CY2018Q4 us-gaap Goodwill Impairment Loss
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4600000000 USD
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27477000000 USD
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18064000000 USD
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16895000000 USD
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2445000000 USD
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2311000000 USD
CY2018 us-gaap Amortization Of Intangible Assets
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2217000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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94833000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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2337000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2009000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1639000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1210000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
846000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
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279737000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
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265734000000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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184904000000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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173819000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
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91915000000 USD
CY2020 vz Lessee Operating Lease And Finance Lease Renewal Term
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P25Y
CY2020 us-gaap Operating Lease Cost
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5016000000 USD
CY2019 us-gaap Operating Lease Cost
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4746000000 USD
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
309000000 USD
CY2019 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
330000000 USD
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
39000000 USD
CY2019 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
38000000 USD
CY2020 us-gaap Short Term Lease Cost
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22000000 USD
CY2019 us-gaap Short Term Lease Cost
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40000000 USD
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
295000000 USD
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
218000000 USD
CY2020 us-gaap Sublease Income
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291000000 USD
CY2019 us-gaap Sublease Income
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275000000 USD
CY2019 us-gaap Lease Cost
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5097000000 USD
CY2020 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
0 USD
CY2019 us-gaap Sale And Leaseback Transaction Gain Loss Net
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-391000000 USD
CY2020 us-gaap Operating Lease Payments
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4813000000 USD
CY2019 us-gaap Operating Lease Payments
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4392000000 USD
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
39000000 USD
CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
38000000 USD
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
394000000 USD
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
352000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3800000000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3510000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
562000000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
564000000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1127000000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
939000000 USD
CY2020Q4 us-gaap Finance Lease Liability Current
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368000000 USD
CY2019Q4 us-gaap Finance Lease Liability Current
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336000000 USD
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
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916000000 USD
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
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780000000 USD
CY2020Q4 us-gaap Finance Lease Liability
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1284000000 USD
CY2019Q4 us-gaap Finance Lease Liability
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1116000000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P8Y
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P5Y
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.035
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.025
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.032
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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4327000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
373000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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3924000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
324000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3561000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
267000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3023000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
211000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2189000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
90000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
7970000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
101000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24994000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1366000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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3509000000 USD
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
82000000 USD
CY2020Q4 us-gaap Operating Lease Liability
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21485000000 USD
CY2020Q4 us-gaap Finance Lease Liability
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1284000000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
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3485000000 USD
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
368000000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
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18000000000 USD
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
916000000 USD
CY2020Q4 vz Lessee Operating Lease Lease Not Yet Commenced Amount
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1600000000 USD
CY2019Q3 vz Sale Leaseback Transaction Gross Proceeds
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1000000000.0 USD
CY2019Q3 us-gaap Sale Leaseback Transaction Lease Terms
SaleLeasebackTransactionLeaseTerms
two years
CY2019Q3 vz Sale Leaseback Transaction Number Of Renewal Options
SaleLeasebackTransactionNumberOfRenewalOptions
4 option
CY2019Q3 vz Sale Leaseback Transaction Renewal Term
SaleLeasebackTransactionRenewalTerm
P3M
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4100000000 USD
CY2020Q4 us-gaap Finance Lease Liability
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1284000000 USD
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1116000000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
6057000000 USD
CY2019Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
4480000000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
604000000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
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492000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
128742000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
111489000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
5569000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
10777000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
123173000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
100712000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
128742000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
111489000000 USD
CY2020Q4 us-gaap Short Term Borrowings
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320000000 USD
CY2019Q4 us-gaap Short Term Borrowings
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0 USD
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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129062000000 USD
CY2019Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
111489000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5227000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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8645000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
7511000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
4286000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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8528000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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93865000000 USD
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
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31500000000 USD
CY2020 us-gaap Repayments Of Debt And Capital Lease Obligations
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17200000000 USD
CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
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18700000000 USD
CY2019 us-gaap Repayments Of Debt And Capital Lease Obligations
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23900000000 USD
CY2020 us-gaap Repayments Of Debt
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8840000000 USD
CY2020 us-gaap Proceeds From Debt Net Of Issuance Costs
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24627000000 USD
CY2020Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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17000000000 USD
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10392000000 USD
CY2020Q4 us-gaap Line Of Credit
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25169000000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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1252000000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
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23917000000 USD
CY2020Q4 us-gaap Notes Receivable Gross
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17959000000 USD
CY2019Q4 us-gaap Notes Receivable Gross
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19493000000 USD
CY2020Q4 us-gaap Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
453000000 USD
CY2019Q4 us-gaap Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
454000000 USD
CY2020Q4 us-gaap Receivable With Imputed Interest Net Amount
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17506000000 USD
CY2019Q4 us-gaap Receivable With Imputed Interest Net Amount
ReceivableWithImputedInterestNetAmount
19039000000 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
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940000000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
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472000000 USD
CY2020Q4 us-gaap Notes Receivable Net
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16566000000 USD
CY2019Q4 us-gaap Notes Receivable Net
NotesReceivableNet
18567000000 USD
CY2020Q4 us-gaap Notes Receivable Net
NotesReceivableNet
16566000000 USD
CY2019Q4 us-gaap Notes Receivable Net
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18567000000 USD
CY2020Q4 us-gaap Pledged Assets Not Separately Reported Finance Receivables
PledgedAssetsNotSeparatelyReportedFinanceReceivables
12100000000 USD
CY2019Q4 us-gaap Pledged Assets Not Separately Reported Finance Receivables
PledgedAssetsNotSeparatelyReportedFinanceReceivables
14300000000 USD
CY2020Q4 us-gaap Assets Fair Value Disclosure
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2704000000 USD
CY2020Q4 us-gaap Liabilities Fair Value Disclosure
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1298000000 USD
CY2019Q4 us-gaap Assets Fair Value Disclosure
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1226000000 USD
CY2019Q4 us-gaap Liabilities Fair Value Disclosure
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1689000000 USD
CY2020Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
402000000 USD
CY2019Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
284000000 USD
CY2020 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount
101000000 USD
CY2020Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Cumulative Amount
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81000000 USD
CY2020Q4 us-gaap Derivative Asset Fair Value Of Collateral
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200000000 USD
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
57.38
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
56.66
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
961000000 USD
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
737000000 USD
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
773000000 USD
CY2020Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
22200000000 USD
CY2019Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
21200000000 USD
CY2019Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.033
CY2020Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.026
CY2018Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.044
CY2019Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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0.033
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CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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CY2019Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
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CY2019Q4 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Projected Benefit Obligation
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CY2019 vz Severance Liability Charged To Expense
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CY2019Q4 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
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CY2018Q4 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
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CY2020Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
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CY2020Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
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CY2020 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
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CY2019 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
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897000000 USD
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CY2018 vz Other Severance Liability
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CY2018Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
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CY2018Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
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CY2019 us-gaap Payments For Postemployment Benefits
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CY2019 vz Other Severance Liability
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CY2019Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
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CY2019Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
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565000000 USD
CY2020 vz Severance Liability Charged To Expense
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CY2020 us-gaap Payments For Postemployment Benefits
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248000000 USD
CY2020 vz Other Severance Liability
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CY2020Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
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CY2020 vz Severance Pension And Benefit Credits Charges
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CY2019Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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0.033
CY2020Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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CY2020 vz Severance Liability Charged To Expense
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CY2019 vz Severance Pension And Benefit Credits Charges
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CY2018Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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0.044
CY2019Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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CY2019 vz Severance Liability Charged To Expense
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CY2018 vz Severance Pension And Benefit Credits Charges
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CY2018Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019 us-gaap Current Foreign Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2018 us-gaap Effective Income Tax Rate Continuing Operations
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5218000000 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
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5048000000 USD
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2848000000 USD
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CY2019Q4 us-gaap Deferred Tax Assets Other
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CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2019Q4 us-gaap Deferred Income Tax Liabilities
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CY2020Q4 us-gaap Deferred Tax Liabilities
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CY2018Q4 us-gaap Unrecognized Tax Benefits
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CY2017Q4 us-gaap Unrecognized Tax Benefits
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CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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58000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2020 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2019 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2020Q4 us-gaap Unrecognized Tax Benefits
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CY2019Q4 us-gaap Unrecognized Tax Benefits
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CY2018Q4 us-gaap Unrecognized Tax Benefits
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2500000000 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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2400000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2019 vz Income Tax Examination Penalties And Interest Expense Benefit
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CY2018 vz Income Tax Examination Penalties And Interest Expense Benefit
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388000000 USD
CY2019Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
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385000000 USD
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2 plan
CY2020 us-gaap Number Of Reportable Segments
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CY2020 us-gaap Number Of Reportable Segments
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CY2019 us-gaap Revenues
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CY2018 us-gaap Revenues
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