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During 2023, the Company granted 16,545,510 RSUs to certain employees and directors pursuant to the 2017 LTIP with an aggregate fair value of $ 53,510 ($ 3.23 per share) which are being expensed over the vesting period. Most of these awards vest over three years in 33 -1/3 annual increments. | text | 33 | percentItemType | text: <entity> 33 </entity> <entity type> percentItemType </entity type> <context> During 2023, the Company granted 16,545,510 RSUs to certain employees and directors pursuant to the 2017 LTIP with an aggregate fair value of $ 53,510 ($ 3.23 per share) which are being expensed over the vesting period. Most of these awards vest over three years in 33 -1/3 annual increments. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage |
In the third quarter of 2021, Lightpath Management Incentive Aggregator LLC ("LMIA") established a Management Incentive Plan (the "Lightpath Plan") for the benefit of employees of Lightpath by issuing equity interests in LMIA which holds an equivalent number of equity interests in Lightpath Holdings LLC (“Holdings”), the parent of Lightpath. These equity interests allow employees to participate in the long-term growth of Lightpath. The Lightpath Plan provides for an aggregate of 650,000 Class A-1 management incentive units and 350,000 Class A-2 management incentive units for issuance. | text | 650000 | sharesItemType | text: <entity> 650000 </entity> <entity type> sharesItemType </entity type> <context> In the third quarter of 2021, Lightpath Management Incentive Aggregator LLC ("LMIA") established a Management Incentive Plan (the "Lightpath Plan") for the benefit of employees of Lightpath by issuing equity interests in LMIA which holds an equivalent number of equity interests in Lightpath Holdings LLC (“Holdings”), the parent of Lightpath. These equity interests allow employees to participate in the long-term growth of Lightpath. The Lightpath Plan provides for an aggregate of 650,000 Class A-1 management incentive units and 350,000 Class A-2 management incentive units for issuance. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
In the third quarter of 2021, Lightpath Management Incentive Aggregator LLC ("LMIA") established a Management Incentive Plan (the "Lightpath Plan") for the benefit of employees of Lightpath by issuing equity interests in LMIA which holds an equivalent number of equity interests in Lightpath Holdings LLC (“Holdings”), the parent of Lightpath. These equity interests allow employees to participate in the long-term growth of Lightpath. The Lightpath Plan provides for an aggregate of 650,000 Class A-1 management incentive units and 350,000 Class A-2 management incentive units for issuance. | text | 350000 | sharesItemType | text: <entity> 350000 </entity> <entity type> sharesItemType </entity type> <context> In the third quarter of 2021, Lightpath Management Incentive Aggregator LLC ("LMIA") established a Management Incentive Plan (the "Lightpath Plan") for the benefit of employees of Lightpath by issuing equity interests in LMIA which holds an equivalent number of equity interests in Lightpath Holdings LLC (“Holdings”), the parent of Lightpath. These equity interests allow employees to participate in the long-term growth of Lightpath. The Lightpath Plan provides for an aggregate of 650,000 Class A-1 management incentive units and 350,000 Class A-2 management incentive units for issuance. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
As of December 31, 2023, 536,140 Class A-1 management incentive units and 273,538 Class A-2 management incentive units ("Award Units") granted to certain employees of Lightpath were outstanding. Vested units will be redeemed upon a partial exit, a change in control or the completion of an initial public offering, as defined in the Holdings LLC agreement. The grant date fair value of the Award Units outstanding aggregated $ 32,687 and will be expensed in the period in which a partial exit or a liquidity event is consummated. | text | 536140 | sharesItemType | text: <entity> 536140 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2023, 536,140 Class A-1 management incentive units and 273,538 Class A-2 management incentive units ("Award Units") granted to certain employees of Lightpath were outstanding. Vested units will be redeemed upon a partial exit, a change in control or the completion of an initial public offering, as defined in the Holdings LLC agreement. The grant date fair value of the Award Units outstanding aggregated $ 32,687 and will be expensed in the period in which a partial exit or a liquidity event is consummated. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
As of December 31, 2023, 536,140 Class A-1 management incentive units and 273,538 Class A-2 management incentive units ("Award Units") granted to certain employees of Lightpath were outstanding. Vested units will be redeemed upon a partial exit, a change in control or the completion of an initial public offering, as defined in the Holdings LLC agreement. The grant date fair value of the Award Units outstanding aggregated $ 32,687 and will be expensed in the period in which a partial exit or a liquidity event is consummated. | text | 273538 | sharesItemType | text: <entity> 273538 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2023, 536,140 Class A-1 management incentive units and 273,538 Class A-2 management incentive units ("Award Units") granted to certain employees of Lightpath were outstanding. Vested units will be redeemed upon a partial exit, a change in control or the completion of an initial public offering, as defined in the Holdings LLC agreement. The grant date fair value of the Award Units outstanding aggregated $ 32,687 and will be expensed in the period in which a partial exit or a liquidity event is consummated. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
In January 2024, CSC Holdings issued $ 2,050,000 in aggregate principal amount of senior guaranteed notes due 2029 ("CSC Holdings 2029 Guaranteed Notes"). These notes bear interest at a rate of 11.750 % and will mature on January 31, 2029. The proceeds from the sale of these notes were used to repay certain indebtedness including (i) the outstanding principal balance of the Term Loan B, (ii) the outstanding principal balance of the Incremental Term Loan B-3, and (iii) pay the fees, costs and expenses associated with these transactions. | text | 2050000 | monetaryItemType | text: <entity> 2050000 </entity> <entity type> monetaryItemType </entity type> <context> In January 2024, CSC Holdings issued $ 2,050,000 in aggregate principal amount of senior guaranteed notes due 2029 ("CSC Holdings 2029 Guaranteed Notes"). These notes bear interest at a rate of 11.750 % and will mature on January 31, 2029. The proceeds from the sale of these notes were used to repay certain indebtedness including (i) the outstanding principal balance of the Term Loan B, (ii) the outstanding principal balance of the Incremental Term Loan B-3, and (iii) pay the fees, costs and expenses associated with these transactions. </context> | us-gaap:DebtInstrumentFaceAmount |
In January 2024, CSC Holdings issued $ 2,050,000 in aggregate principal amount of senior guaranteed notes due 2029 ("CSC Holdings 2029 Guaranteed Notes"). These notes bear interest at a rate of 11.750 % and will mature on January 31, 2029. The proceeds from the sale of these notes were used to repay certain indebtedness including (i) the outstanding principal balance of the Term Loan B, (ii) the outstanding principal balance of the Incremental Term Loan B-3, and (iii) pay the fees, costs and expenses associated with these transactions. | text | 11.750 | percentItemType | text: <entity> 11.750 </entity> <entity type> percentItemType </entity type> <context> In January 2024, CSC Holdings issued $ 2,050,000 in aggregate principal amount of senior guaranteed notes due 2029 ("CSC Holdings 2029 Guaranteed Notes"). These notes bear interest at a rate of 11.750 % and will mature on January 31, 2029. The proceeds from the sale of these notes were used to repay certain indebtedness including (i) the outstanding principal balance of the Term Loan B, (ii) the outstanding principal balance of the Incremental Term Loan B-3, and (iii) pay the fees, costs and expenses associated with these transactions. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Also in January 2024, we notified the holders of our 5.250 % Senior Notes due 2024 and 5.250 % Series B Senior Notes due 2024 that we will be redeeming these notes in full (in accordance with the terms of the indenture). We expect to drawdown $ 750,000 under our Revolving Credit Facility to repay these notes on February 28, 2024. In connection with this refinancing, the carrying value of outstanding notes of $ 742,746 as of December 31, 2023 has been classified as long-term debt. | text | 5.250 | percentItemType | text: <entity> 5.250 </entity> <entity type> percentItemType </entity type> <context> Also in January 2024, we notified the holders of our 5.250 % Senior Notes due 2024 and 5.250 % Series B Senior Notes due 2024 that we will be redeeming these notes in full (in accordance with the terms of the indenture). We expect to drawdown $ 750,000 under our Revolving Credit Facility to repay these notes on February 28, 2024. In connection with this refinancing, the carrying value of outstanding notes of $ 742,746 as of December 31, 2023 has been classified as long-term debt. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Also in January 2024, we notified the holders of our 5.250 % Senior Notes due 2024 and 5.250 % Series B Senior Notes due 2024 that we will be redeeming these notes in full (in accordance with the terms of the indenture). We expect to drawdown $ 750,000 under our Revolving Credit Facility to repay these notes on February 28, 2024. In connection with this refinancing, the carrying value of outstanding notes of $ 742,746 as of December 31, 2023 has been classified as long-term debt. | text | 750000 | monetaryItemType | text: <entity> 750000 </entity> <entity type> monetaryItemType </entity type> <context> Also in January 2024, we notified the holders of our 5.250 % Senior Notes due 2024 and 5.250 % Series B Senior Notes due 2024 that we will be redeeming these notes in full (in accordance with the terms of the indenture). We expect to drawdown $ 750,000 under our Revolving Credit Facility to repay these notes on February 28, 2024. In connection with this refinancing, the carrying value of outstanding notes of $ 742,746 as of December 31, 2023 has been classified as long-term debt. </context> | us-gaap:ProceedsFromIssuanceOfDebt |
Also in January 2024, we notified the holders of our 5.250 % Senior Notes due 2024 and 5.250 % Series B Senior Notes due 2024 that we will be redeeming these notes in full (in accordance with the terms of the indenture). We expect to drawdown $ 750,000 under our Revolving Credit Facility to repay these notes on February 28, 2024. In connection with this refinancing, the carrying value of outstanding notes of $ 742,746 as of December 31, 2023 has been classified as long-term debt. | text | 742746 | monetaryItemType | text: <entity> 742746 </entity> <entity type> monetaryItemType </entity type> <context> Also in January 2024, we notified the holders of our 5.250 % Senior Notes due 2024 and 5.250 % Series B Senior Notes due 2024 that we will be redeeming these notes in full (in accordance with the terms of the indenture). We expect to drawdown $ 750,000 under our Revolving Credit Facility to repay these notes on February 28, 2024. In connection with this refinancing, the carrying value of outstanding notes of $ 742,746 as of December 31, 2023 has been classified as long-term debt. </context> | us-gaap:SeniorNotes |
We have two reportable segments that we operate and manage as strategic business units - Verizon Consumer Group (Consumer) and Verizon Business Group (Business). | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> We have two reportable segments that we operate and manage as strategic business units - Verizon Consumer Group (Consumer) and Verizon Business Group (Business). </context> | us-gaap:NumberOfReportableSegments |
There were a total of approximately 4.7 million and 4.2 million outstanding dilutive securities, primarily consisting of performance stock units and restricted stock units, included in the computation of diluted earnings per common share for the years ended | text | 4.7 | sharesItemType | text: <entity> 4.7 </entity> <entity type> sharesItemType </entity type> <context> There were a total of approximately 4.7 million and 4.2 million outstanding dilutive securities, primarily consisting of performance stock units and restricted stock units, included in the computation of diluted earnings per common share for the years ended </context> | us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements |
There were a total of approximately 4.7 million and 4.2 million outstanding dilutive securities, primarily consisting of performance stock units and restricted stock units, included in the computation of diluted earnings per common share for the years ended | text | 4.2 | sharesItemType | text: <entity> 4.2 </entity> <entity type> sharesItemType </entity type> <context> There were a total of approximately 4.7 million and 4.2 million outstanding dilutive securities, primarily consisting of performance stock units and restricted stock units, included in the computation of diluted earnings per common share for the years ended </context> | us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements |
There was a total of approximately 1.9 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the year ended | text | 1.9 | sharesItemType | text: <entity> 1.9 </entity> <entity type> sharesItemType </entity type> <context> There was a total of approximately 1.9 million outstanding dilutive securities, primarily consisting of restricted stock units, included in the computation of diluted earnings per common share for the year ended </context> | us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements |
We have two reportable segments that we operate and manage as strategic business units, Consumer and Business. Revenue is disaggregated by products and services within Consumer, and customer groups (Enterprise and Public Sector, Business Markets and Other, and Wholesale) within Business. See Note 13 for additional information on revenue by segment, including Corporate and other. | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> We have two reportable segments that we operate and manage as strategic business units, Consumer and Business. Revenue is disaggregated by products and services within Consumer, and customer groups (Enterprise and Public Sector, Business Markets and Other, and Wholesale) within Business. See Note 13 for additional information on revenue by segment, including Corporate and other. </context> | us-gaap:NumberOfReportableSegments |
We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. We have elected the practical expedient within Topic 842, to combine the lease and non-lease components for those customer arrangements under Topic 606 that involve customer premise equipment where we are the lessor. Revenues from arrangements that were not accounted for under Topic 606 were approximately $ 3.1 billion, $ 2.9 billion and $ 3.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 3.1 | monetaryItemType | text: <entity> 3.1 </entity> <entity type> monetaryItemType </entity type> <context> We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. We have elected the practical expedient within Topic 842, to combine the lease and non-lease components for those customer arrangements under Topic 606 that involve customer premise equipment where we are the lessor. Revenues from arrangements that were not accounted for under Topic 606 were approximately $ 3.1 billion, $ 2.9 billion and $ 3.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:RevenueNotFromContractWithCustomer |
We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. We have elected the practical expedient within Topic 842, to combine the lease and non-lease components for those customer arrangements under Topic 606 that involve customer premise equipment where we are the lessor. Revenues from arrangements that were not accounted for under Topic 606 were approximately $ 3.1 billion, $ 2.9 billion and $ 3.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 2.9 | monetaryItemType | text: <entity> 2.9 </entity> <entity type> monetaryItemType </entity type> <context> We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. We have elected the practical expedient within Topic 842, to combine the lease and non-lease components for those customer arrangements under Topic 606 that involve customer premise equipment where we are the lessor. Revenues from arrangements that were not accounted for under Topic 606 were approximately $ 3.1 billion, $ 2.9 billion and $ 3.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:RevenueNotFromContractWithCustomer |
We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. We have elected the practical expedient within Topic 842, to combine the lease and non-lease components for those customer arrangements under Topic 606 that involve customer premise equipment where we are the lessor. Revenues from arrangements that were not accounted for under Topic 606 were approximately $ 3.1 billion, $ 2.9 billion and $ 3.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> We also earn revenues that are not accounted for under Topic 606 from leasing arrangements (such as those for towers and equipment), captive reinsurance arrangements primarily related to wireless device insurance and the interest recognized when equipment is sold to the customer by an authorized agent under a device payment plan agreement. We have elected the practical expedient within Topic 842, to combine the lease and non-lease components for those customer arrangements under Topic 606 that involve customer premise equipment where we are the lessor. Revenues from arrangements that were not accounted for under Topic 606 were approximately $ 3.1 billion, $ 2.9 billion and $ 3.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:RevenueNotFromContractWithCustomer |
Additionally, there are certain contracts with Business customers for wireline services that have a contractual minimum fee over the total contract term. We cannot predict the time period when revenue will be recognized related to those contracts; thus, they are excluded from the time bands below. These contracts have varying terms spanning over approximately twenty-nine years ending in September 2053 and have aggregate contract minimum payments totaling $ 1.8 billion. | text | 1.8 | monetaryItemType | text: <entity> 1.8 </entity> <entity type> monetaryItemType </entity type> <context> Additionally, there are certain contracts with Business customers for wireline services that have a contractual minimum fee over the total contract term. We cannot predict the time period when revenue will be recognized related to those contracts; thus, they are excluded from the time bands below. These contracts have varying terms spanning over approximately twenty-nine years ending in September 2053 and have aggregate contract minimum payments totaling $ 1.8 billion. </context> | us-gaap:RevenueRemainingPerformanceObligation |
At December 31, 2024, the transaction price related to unsatisfied performance obligations that are expected to be recognized for 2025, 2026 and thereafter was $ 28.5 billion, $ 17.5 billion and $ 7.2 billion, respectively. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations and changes in the timing and scope of contracts, arising from contract modifications. | text | 28.5 | monetaryItemType | text: <entity> 28.5 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the transaction price related to unsatisfied performance obligations that are expected to be recognized for 2025, 2026 and thereafter was $ 28.5 billion, $ 17.5 billion and $ 7.2 billion, respectively. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations and changes in the timing and scope of contracts, arising from contract modifications. </context> | us-gaap:RevenueRemainingPerformanceObligation |
At December 31, 2024, the transaction price related to unsatisfied performance obligations that are expected to be recognized for 2025, 2026 and thereafter was $ 28.5 billion, $ 17.5 billion and $ 7.2 billion, respectively. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations and changes in the timing and scope of contracts, arising from contract modifications. | text | 17.5 | monetaryItemType | text: <entity> 17.5 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the transaction price related to unsatisfied performance obligations that are expected to be recognized for 2025, 2026 and thereafter was $ 28.5 billion, $ 17.5 billion and $ 7.2 billion, respectively. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations and changes in the timing and scope of contracts, arising from contract modifications. </context> | us-gaap:RevenueRemainingPerformanceObligation |
At December 31, 2024, the transaction price related to unsatisfied performance obligations that are expected to be recognized for 2025, 2026 and thereafter was $ 28.5 billion, $ 17.5 billion and $ 7.2 billion, respectively. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations and changes in the timing and scope of contracts, arising from contract modifications. | text | 7.2 | monetaryItemType | text: <entity> 7.2 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the transaction price related to unsatisfied performance obligations that are expected to be recognized for 2025, 2026 and thereafter was $ 28.5 billion, $ 17.5 billion and $ 7.2 billion, respectively. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations and changes in the timing and scope of contracts, arising from contract modifications. </context> | us-gaap:RevenueRemainingPerformanceObligation |
Contract assets increased $ 128 million during the year ended December 31, 2024. The change in contract assets was primarily due to new contracts and increases in sales promotions recognized upfront, driven by customer activity related to wireless and Fios services. These items were partially offset by reclassifications to accounts receivable due to billings on existing contracts and impairment charges of $ 53 million. | text | 53 | monetaryItemType | text: <entity> 53 </entity> <entity type> monetaryItemType </entity type> <context> Contract assets increased $ 128 million during the year ended December 31, 2024. The change in contract assets was primarily due to new contracts and increases in sales promotions recognized upfront, driven by customer activity related to wireless and Fios services. These items were partially offset by reclassifications to accounts receivable due to billings on existing contracts and impairment charges of $ 53 million. </context> | us-gaap:ContractWithCustomerAssetCreditLossExpense |
Revenue recognized during the years ended December 31, 2024 and 2023 related to contract liabilities existing at January 1, 2024 and 2023 were $ 5.0 billion and $ 4.9 billion, respectively, as performance obligations related to services were satisfied. | text | 5.0 | monetaryItemType | text: <entity> 5.0 </entity> <entity type> monetaryItemType </entity type> <context> Revenue recognized during the years ended December 31, 2024 and 2023 related to contract liabilities existing at January 1, 2024 and 2023 were $ 5.0 billion and $ 4.9 billion, respectively, as performance obligations related to services were satisfied. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
Revenue recognized during the years ended December 31, 2024 and 2023 related to contract liabilities existing at January 1, 2024 and 2023 were $ 5.0 billion and $ 4.9 billion, respectively, as performance obligations related to services were satisfied. | text | 4.9 | monetaryItemType | text: <entity> 4.9 </entity> <entity type> monetaryItemType </entity type> <context> Revenue recognized during the years ended December 31, 2024 and 2023 related to contract liabilities existing at January 1, 2024 and 2023 were $ 5.0 billion and $ 4.9 billion, respectively, as performance obligations related to services were satisfied. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
For the years ended December 31, 2024 and 2023, we recognized expense of $ 3.4 billion and $ 3.2 billion, respectively, associated with the amortization of deferred contract costs, primarily within Selling, general and administrative expense in our consolidated statements of income. | text | 3.4 | monetaryItemType | text: <entity> 3.4 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024 and 2023, we recognized expense of $ 3.4 billion and $ 3.2 billion, respectively, associated with the amortization of deferred contract costs, primarily within Selling, general and administrative expense in our consolidated statements of income. </context> | us-gaap:CapitalizedContractCostAmortization |
For the years ended December 31, 2024 and 2023, we recognized expense of $ 3.4 billion and $ 3.2 billion, respectively, associated with the amortization of deferred contract costs, primarily within Selling, general and administrative expense in our consolidated statements of income. | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024 and 2023, we recognized expense of $ 3.4 billion and $ 3.2 billion, respectively, associated with the amortization of deferred contract costs, primarily within Selling, general and administrative expense in our consolidated statements of income. </context> | us-gaap:CapitalizedContractCostAmortization |
We assess our deferred contract costs for impairment on a quarterly basis. We recognize an impairment charge to the extent the carrying amount of a deferred cost exceeds the remaining amount of consideration we expect to receive in exchange for the goods and services related to the cost, less the expected costs related directly to providing those goods and services that have not yet been recognized as expenses. There were no impairment charges recognized for the year ended December 31, 2024. There were insignificant impairment charges recognized for the year ended December 31, 2023. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> We assess our deferred contract costs for impairment on a quarterly basis. We recognize an impairment charge to the extent the carrying amount of a deferred cost exceeds the remaining amount of consideration we expect to receive in exchange for the goods and services related to the cost, less the expected costs related directly to providing those goods and services that have not yet been recognized as expenses. There were no impairment charges recognized for the year ended December 31, 2024. There were insignificant impairment charges recognized for the year ended December 31, 2023. </context> | us-gaap:CapitalizedContractCostImpairmentLoss |
In February 2021, the FCC concluded Auction 107 for C-Band wireless spectrum. In accordance with the rules applicable to the auction, Verizon is required to make payments for our allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction, which are estimated to be $ 7.5 billion. During 2024, 2023 and 2022, we made payments of $ 269 million, $ 4.3 billion and $ 1.6 billion respectively, for obligations related to clearing costs and accelerated clearing incentives. The carrying value of the wireless spectrum won in Auction 107 consists of all payments required to participate and purchase licenses in the auction, including Verizon’s allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction that we are obligated to pay in order to acquire the licenses, as well as capitalized interest to the extent qualifying activities have occurred. | text | 269 | monetaryItemType | text: <entity> 269 </entity> <entity type> monetaryItemType </entity type> <context> In February 2021, the FCC concluded Auction 107 for C-Band wireless spectrum. In accordance with the rules applicable to the auction, Verizon is required to make payments for our allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction, which are estimated to be $ 7.5 billion. During 2024, 2023 and 2022, we made payments of $ 269 million, $ 4.3 billion and $ 1.6 billion respectively, for obligations related to clearing costs and accelerated clearing incentives. The carrying value of the wireless spectrum won in Auction 107 consists of all payments required to participate and purchase licenses in the auction, including Verizon’s allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction that we are obligated to pay in order to acquire the licenses, as well as capitalized interest to the extent qualifying activities have occurred. </context> | us-gaap:PaymentsToAcquireIntangibleAssets |
In February 2021, the FCC concluded Auction 107 for C-Band wireless spectrum. In accordance with the rules applicable to the auction, Verizon is required to make payments for our allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction, which are estimated to be $ 7.5 billion. During 2024, 2023 and 2022, we made payments of $ 269 million, $ 4.3 billion and $ 1.6 billion respectively, for obligations related to clearing costs and accelerated clearing incentives. The carrying value of the wireless spectrum won in Auction 107 consists of all payments required to participate and purchase licenses in the auction, including Verizon’s allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction that we are obligated to pay in order to acquire the licenses, as well as capitalized interest to the extent qualifying activities have occurred. | text | 4.3 | monetaryItemType | text: <entity> 4.3 </entity> <entity type> monetaryItemType </entity type> <context> In February 2021, the FCC concluded Auction 107 for C-Band wireless spectrum. In accordance with the rules applicable to the auction, Verizon is required to make payments for our allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction, which are estimated to be $ 7.5 billion. During 2024, 2023 and 2022, we made payments of $ 269 million, $ 4.3 billion and $ 1.6 billion respectively, for obligations related to clearing costs and accelerated clearing incentives. The carrying value of the wireless spectrum won in Auction 107 consists of all payments required to participate and purchase licenses in the auction, including Verizon’s allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction that we are obligated to pay in order to acquire the licenses, as well as capitalized interest to the extent qualifying activities have occurred. </context> | us-gaap:PaymentsToAcquireIntangibleAssets |
In February 2021, the FCC concluded Auction 107 for C-Band wireless spectrum. In accordance with the rules applicable to the auction, Verizon is required to make payments for our allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction, which are estimated to be $ 7.5 billion. During 2024, 2023 and 2022, we made payments of $ 269 million, $ 4.3 billion and $ 1.6 billion respectively, for obligations related to clearing costs and accelerated clearing incentives. The carrying value of the wireless spectrum won in Auction 107 consists of all payments required to participate and purchase licenses in the auction, including Verizon’s allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction that we are obligated to pay in order to acquire the licenses, as well as capitalized interest to the extent qualifying activities have occurred. | text | 1.6 | monetaryItemType | text: <entity> 1.6 </entity> <entity type> monetaryItemType </entity type> <context> In February 2021, the FCC concluded Auction 107 for C-Band wireless spectrum. In accordance with the rules applicable to the auction, Verizon is required to make payments for our allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction, which are estimated to be $ 7.5 billion. During 2024, 2023 and 2022, we made payments of $ 269 million, $ 4.3 billion and $ 1.6 billion respectively, for obligations related to clearing costs and accelerated clearing incentives. The carrying value of the wireless spectrum won in Auction 107 consists of all payments required to participate and purchase licenses in the auction, including Verizon’s allocable share of clearing costs incurred by, and incentive payments due to, the incumbent license holders associated with the auction that we are obligated to pay in order to acquire the licenses, as well as capitalized interest to the extent qualifying activities have occurred. </context> | us-gaap:PaymentsToAcquireIntangibleAssets |
In March 2022, Verizon signed agreements with satellite operators in which operators agreed to clear C-Band spectrum in certain markets and frequencies ahead of the previously expected timeframe. During 2022, Verizon incurred costs associated with these agreements of approximately $ 340 million, of which $ 310 million was paid as of December 31, 2022 and the remainder was paid in 2023. This early clearance accelerated Verizon's access to more spectrum in a number of key markets to support its 5G network initiatives. | text | 340 | monetaryItemType | text: <entity> 340 </entity> <entity type> monetaryItemType </entity type> <context> In March 2022, Verizon signed agreements with satellite operators in which operators agreed to clear C-Band spectrum in certain markets and frequencies ahead of the previously expected timeframe. During 2022, Verizon incurred costs associated with these agreements of approximately $ 340 million, of which $ 310 million was paid as of December 31, 2022 and the remainder was paid in 2023. This early clearance accelerated Verizon's access to more spectrum in a number of key markets to support its 5G network initiatives. </context> | us-gaap:AssetAcquisitionConsiderationTransferredTransactionCost |
In March 2022, Verizon signed agreements with satellite operators in which operators agreed to clear C-Band spectrum in certain markets and frequencies ahead of the previously expected timeframe. During 2022, Verizon incurred costs associated with these agreements of approximately $ 340 million, of which $ 310 million was paid as of December 31, 2022 and the remainder was paid in 2023. This early clearance accelerated Verizon's access to more spectrum in a number of key markets to support its 5G network initiatives. | text | 310 | monetaryItemType | text: <entity> 310 </entity> <entity type> monetaryItemType </entity type> <context> In March 2022, Verizon signed agreements with satellite operators in which operators agreed to clear C-Band spectrum in certain markets and frequencies ahead of the previously expected timeframe. During 2022, Verizon incurred costs associated with these agreements of approximately $ 340 million, of which $ 310 million was paid as of December 31, 2022 and the remainder was paid in 2023. This early clearance accelerated Verizon's access to more spectrum in a number of key markets to support its 5G network initiatives. </context> | us-gaap:PaymentsToAcquireIntangibleAssets |
On October 17, 2024, Verizon entered into a license purchase agreement to acquire select spectrum licenses of United States Cellular Corporation and certain of its subsidiaries (UScellular) for total consideration of $ 1.0 billion, subject to certain potential adjustments. The closing of this transaction is subject to the receipt of regulatory approvals and other closing conditions, including the consummation of UScellular's proposed sale of its wireless operations and select spectrum assets to T-Mobile US, Inc., and the termination of certain post-closing arrangements with respect to that sale. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> On October 17, 2024, Verizon entered into a license purchase agreement to acquire select spectrum licenses of United States Cellular Corporation and certain of its subsidiaries (UScellular) for total consideration of $ 1.0 billion, subject to certain potential adjustments. The closing of this transaction is subject to the receipt of regulatory approvals and other closing conditions, including the consummation of UScellular's proposed sale of its wireless operations and select spectrum assets to T-Mobile US, Inc., and the termination of certain post-closing arrangements with respect to that sale. </context> | us-gaap:AssetAcquisitionConsiderationTransferred |
On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. | text | 3.5 | monetaryItemType | text: <entity> 3.5 </entity> <entity type> monetaryItemType </entity type> <context> On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. </context> | us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired |
On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. | text | 57596544 | sharesItemType | text: <entity> 57596544 </entity> <entity type> sharesItemType </entity type> <context> On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. </context> | us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued |
On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. </context> | us-gaap:BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable |
On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. | text | 650 | monetaryItemType | text: <entity> 650 </entity> <entity type> monetaryItemType </entity type> <context> On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. </context> | us-gaap:BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh |
On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. | text | 560 | monetaryItemType | text: <entity> 560 </entity> <entity type> monetaryItemType </entity type> <context> On November 23, 2021 (the Acquisition Date), we completed the acquisition of TracFone Wireless, Inc. (TracFone). Verizon acquired all of TracFone's outstanding stock in exchange for approximately $ 3.5 billion in cash, net of cash acquired and working capital and other adjustments, 57,596,544 shares of common stock of the Company valued at approximately $ 3.0 billion, and up to an additional $ 650 million in future cash contingent consideration related to the achievement of certain performance measures and other commercial arrangements. The fair value of the common stock was determined on the basis of its closing market price on the Acquisition Date. The estimated fair value of the contingent consideration as of the Acquisition Date was approximately $ 560 million and represented a Level 3 measurement as defined in ASC 820, Fair Value Measurements and Disclosures. See Note 9 for additional information. The contingent consideration payable was based on the achievement of certain revenue and operational targets, measured over a two-year earn out period. Contingent consideration payments were completed in January of 2024. </context> | us-gaap:BusinessCombinationContingentConsiderationLiability |
During 2024, 2023 and 2022, Verizon made payments of $ 52 million, $ 257 million and $ 188 million, respectively, related to the contingent consideration, which are reflected in Cash flows from financing activities in our consolidated statements of cash flows. | text | 52 | monetaryItemType | text: <entity> 52 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, 2023 and 2022, Verizon made payments of $ 52 million, $ 257 million and $ 188 million, respectively, related to the contingent consideration, which are reflected in Cash flows from financing activities in our consolidated statements of cash flows. </context> | us-gaap:PaymentForContingentConsiderationLiabilityFinancingActivities |
During 2024, 2023 and 2022, Verizon made payments of $ 52 million, $ 257 million and $ 188 million, respectively, related to the contingent consideration, which are reflected in Cash flows from financing activities in our consolidated statements of cash flows. | text | 257 | monetaryItemType | text: <entity> 257 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, 2023 and 2022, Verizon made payments of $ 52 million, $ 257 million and $ 188 million, respectively, related to the contingent consideration, which are reflected in Cash flows from financing activities in our consolidated statements of cash flows. </context> | us-gaap:PaymentForContingentConsiderationLiabilityFinancingActivities |
During 2024, 2023 and 2022, Verizon made payments of $ 52 million, $ 257 million and $ 188 million, respectively, related to the contingent consideration, which are reflected in Cash flows from financing activities in our consolidated statements of cash flows. | text | 188 | monetaryItemType | text: <entity> 188 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, 2023 and 2022, Verizon made payments of $ 52 million, $ 257 million and $ 188 million, respectively, related to the contingent consideration, which are reflected in Cash flows from financing activities in our consolidated statements of cash flows. </context> | us-gaap:PaymentForContingentConsiderationLiabilityFinancingActivities |
During 2022, Verizon received net cash proceeds of $ 248 million for the final settlement of working capital, which was included in our consideration as of the Acquisition Date. | text | 248 | monetaryItemType | text: <entity> 248 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, Verizon received net cash proceeds of $ 248 million for the final settlement of working capital, which was included in our consideration as of the Acquisition Date. </context> | us-gaap:CashAcquiredFromAcquisition |
On September 4, 2024, Verizon entered into an Agreement and Plan of Merger (the Merger Agreement) to acquire Frontier Communications Parent, Inc. (Frontier), a U.S. provider of broadband internet and other communication services. The transaction is structured as a merger of the Company's subsidiary with and into Frontier, as a result of which Frontier will become a wholly owned subsidiary of the Company and shares of Frontier common stock outstanding immediately prior to the effective time of merger (subject to certain limited exceptions) will be cancelled and converted into the right to receive a per share merger consideration of $ 38.50 , in cash. In November 2024, Frontier shareholders approved the transaction. Consummation of the transaction is subject to the receipt of certain regulatory approvals and other customary closing conditions. Under certain circumstances, if the Merger Agreement is terminated, Frontier may be required to pay Verizon a termination fee of $ 320 million. Under certain other specified circumstances, Verizon may be required to pay Frontier a termination fee of $ 590 million. | text | 38.50 | perShareItemType | text: <entity> 38.50 </entity> <entity type> perShareItemType </entity type> <context> On September 4, 2024, Verizon entered into an Agreement and Plan of Merger (the Merger Agreement) to acquire Frontier Communications Parent, Inc. (Frontier), a U.S. provider of broadband internet and other communication services. The transaction is structured as a merger of the Company's subsidiary with and into Frontier, as a result of which Frontier will become a wholly owned subsidiary of the Company and shares of Frontier common stock outstanding immediately prior to the effective time of merger (subject to certain limited exceptions) will be cancelled and converted into the right to receive a per share merger consideration of $ 38.50 , in cash. In November 2024, Frontier shareholders approved the transaction. Consummation of the transaction is subject to the receipt of certain regulatory approvals and other customary closing conditions. Under certain circumstances, if the Merger Agreement is terminated, Frontier may be required to pay Verizon a termination fee of $ 320 million. Under certain other specified circumstances, Verizon may be required to pay Frontier a termination fee of $ 590 million. </context> | us-gaap:BusinessAcquisitionSharePrice |
During 2024 and 2023, we made payments of $ 269 million and $ 4.3 billion, respectively, for obligations related to clearing costs and accelerated clearing incentives for wireless licenses in connection with Auction 107. See Note 3 for additional information. | text | 269 | monetaryItemType | text: <entity> 269 </entity> <entity type> monetaryItemType </entity type> <context> During 2024 and 2023, we made payments of $ 269 million and $ 4.3 billion, respectively, for obligations related to clearing costs and accelerated clearing incentives for wireless licenses in connection with Auction 107. See Note 3 for additional information. </context> | us-gaap:PaymentsToAcquireIntangibleAssets |
During 2024 and 2023, we made payments of $ 269 million and $ 4.3 billion, respectively, for obligations related to clearing costs and accelerated clearing incentives for wireless licenses in connection with Auction 107. See Note 3 for additional information. | text | 4.3 | monetaryItemType | text: <entity> 4.3 </entity> <entity type> monetaryItemType </entity type> <context> During 2024 and 2023, we made payments of $ 269 million and $ 4.3 billion, respectively, for obligations related to clearing costs and accelerated clearing incentives for wireless licenses in connection with Auction 107. See Note 3 for additional information. </context> | us-gaap:PaymentsToAcquireIntangibleAssets |
At December 31, 2024 and 2023, approximately $ 10.1 billion and $ 15.0 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded $ 616 million and $ 1.4 billion of capitalized interest on wireless licenses for the years ended December 31, 2024 and 2023, respectively. | text | 10.1 | monetaryItemType | text: <entity> 10.1 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, approximately $ 10.1 billion and $ 15.0 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded $ 616 million and $ 1.4 billion of capitalized interest on wireless licenses for the years ended December 31, 2024 and 2023, respectively. </context> | us-gaap:ConstructionInProgressGross |
At December 31, 2024 and 2023, approximately $ 10.1 billion and $ 15.0 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded $ 616 million and $ 1.4 billion of capitalized interest on wireless licenses for the years ended December 31, 2024 and 2023, respectively. | text | 15.0 | monetaryItemType | text: <entity> 15.0 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, approximately $ 10.1 billion and $ 15.0 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded $ 616 million and $ 1.4 billion of capitalized interest on wireless licenses for the years ended December 31, 2024 and 2023, respectively. </context> | us-gaap:ConstructionInProgressGross |
At December 31, 2024 and 2023, approximately $ 10.1 billion and $ 15.0 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded $ 616 million and $ 1.4 billion of capitalized interest on wireless licenses for the years ended December 31, 2024 and 2023, respectively. | text | 616 | monetaryItemType | text: <entity> 616 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, approximately $ 10.1 billion and $ 15.0 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded $ 616 million and $ 1.4 billion of capitalized interest on wireless licenses for the years ended December 31, 2024 and 2023, respectively. </context> | us-gaap:InterestCostsCapitalized |
At December 31, 2024 and 2023, approximately $ 10.1 billion and $ 15.0 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded $ 616 million and $ 1.4 billion of capitalized interest on wireless licenses for the years ended December 31, 2024 and 2023, respectively. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, approximately $ 10.1 billion and $ 15.0 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded $ 616 million and $ 1.4 billion of capitalized interest on wireless licenses for the years ended December 31, 2024 and 2023, respectively. </context> | us-gaap:InterestCostsCapitalized |
Goodwill balances are net of an accumulated impairment charge of $ 16 million presented within both Other and Total. | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill balances are net of an accumulated impairment charge of $ 16 million presented within both Other and Total. </context> | us-gaap:GoodwillImpairedAccumulatedImpairmentLoss |
Includes a goodwill impairment charge of $ 27 million related to non-strategic businesses presented within Other, recorded in Selling, general and administrative expense in our consolidated statement of income for the year ended December 31, 2023. | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> Includes a goodwill impairment charge of $ 27 million related to non-strategic businesses presented within Other, recorded in Selling, general and administrative expense in our consolidated statement of income for the year ended December 31, 2023. </context> | us-gaap:GoodwillImpairmentLoss |
Goodwill balances are net of accumulated impairment charges of $ 5.8 billion, $ 43 million and $ 5.9 billion presented within Business, Other and Total, respectively. | text | 5.8 | monetaryItemType | text: <entity> 5.8 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill balances are net of accumulated impairment charges of $ 5.8 billion, $ 43 million and $ 5.9 billion presented within Business, Other and Total, respectively. </context> | us-gaap:GoodwillImpairedAccumulatedImpairmentLoss |
Goodwill balances are net of accumulated impairment charges of $ 5.8 billion, $ 43 million and $ 5.9 billion presented within Business, Other and Total, respectively. | text | 43 | monetaryItemType | text: <entity> 43 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill balances are net of accumulated impairment charges of $ 5.8 billion, $ 43 million and $ 5.9 billion presented within Business, Other and Total, respectively. </context> | us-gaap:GoodwillImpairedAccumulatedImpairmentLoss |
Goodwill balances are net of accumulated impairment charges of $ 5.8 billion, $ 43 million and $ 5.9 billion presented within Business, Other and Total, respectively. | text | 5.9 | monetaryItemType | text: <entity> 5.9 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill balances are net of accumulated impairment charges of $ 5.8 billion, $ 43 million and $ 5.9 billion presented within Business, Other and Total, respectively. </context> | us-gaap:GoodwillImpairedAccumulatedImpairmentLoss |
During the fourth quarter of 2023, we performed a quantitative impairment assessment for our Business reporting unit given the low excess of fair value over carrying value identified in our 2022 annual impairment assessment and increased competitive and market pressures experienced throughout 2023. These pressures resulted in lower projected cash flows primarily driven by secular declines in wireline services and products across our Business customer groups. In connection with Verizon’s annual budget process in the fourth quarter of 2023, leadership completed a comprehensive five-year strategic planning review of our Business reporting unit resulting in declines in financial projections driven by market dynamics as compared to the prior year five-year strategic planning cycle. The revised projections were used as a key input into the Business reporting unit’s annual goodwill impairment test performed in the fourth quarter of 2023. In addition, changes in the macroeconomic environment, including interest rate and inflationary pressures also impacted the fair value of the reporting unit. We applied a combination of a market approach and a discounted cash flow method reflecting current assumptions and inputs, including our revised projections, discount rate and expected growth rates, which resulted in the determination that the fair value of our Business reporting unit was less than its carrying amount. As a result, in the fourth quarter of 2023, we recorded a noncash goodwill impairment charge of approximately $ 5.8 billion ($ 5.8 billion after-tax) in our consolidated statement of income. | text | 5.8 | monetaryItemType | text: <entity> 5.8 </entity> <entity type> monetaryItemType </entity type> <context> During the fourth quarter of 2023, we performed a quantitative impairment assessment for our Business reporting unit given the low excess of fair value over carrying value identified in our 2022 annual impairment assessment and increased competitive and market pressures experienced throughout 2023. These pressures resulted in lower projected cash flows primarily driven by secular declines in wireline services and products across our Business customer groups. In connection with Verizon’s annual budget process in the fourth quarter of 2023, leadership completed a comprehensive five-year strategic planning review of our Business reporting unit resulting in declines in financial projections driven by market dynamics as compared to the prior year five-year strategic planning cycle. The revised projections were used as a key input into the Business reporting unit’s annual goodwill impairment test performed in the fourth quarter of 2023. In addition, changes in the macroeconomic environment, including interest rate and inflationary pressures also impacted the fair value of the reporting unit. We applied a combination of a market approach and a discounted cash flow method reflecting current assumptions and inputs, including our revised projections, discount rate and expected growth rates, which resulted in the determination that the fair value of our Business reporting unit was less than its carrying amount. As a result, in the fourth quarter of 2023, we recorded a noncash goodwill impairment charge of approximately $ 5.8 billion ($ 5.8 billion after-tax) in our consolidated statement of income. </context> | us-gaap:GoodwillImpairmentLoss |
During the fourth quarter of 2023, we performed a quantitative impairment assessment for our Business reporting unit given the low excess of fair value over carrying value identified in our 2022 annual impairment assessment and increased competitive and market pressures experienced throughout 2023. These pressures resulted in lower projected cash flows primarily driven by secular declines in wireline services and products across our Business customer groups. In connection with Verizon’s annual budget process in the fourth quarter of 2023, leadership completed a comprehensive five-year strategic planning review of our Business reporting unit resulting in declines in financial projections driven by market dynamics as compared to the prior year five-year strategic planning cycle. The revised projections were used as a key input into the Business reporting unit’s annual goodwill impairment test performed in the fourth quarter of 2023. In addition, changes in the macroeconomic environment, including interest rate and inflationary pressures also impacted the fair value of the reporting unit. We applied a combination of a market approach and a discounted cash flow method reflecting current assumptions and inputs, including our revised projections, discount rate and expected growth rates, which resulted in the determination that the fair value of our Business reporting unit was less than its carrying amount. As a result, in the fourth quarter of 2023, we recorded a noncash goodwill impairment charge of approximately $ 5.8 billion ($ 5.8 billion after-tax) in our consolidated statement of income. | text | 5.8 | monetaryItemType | text: <entity> 5.8 </entity> <entity type> monetaryItemType </entity type> <context> During the fourth quarter of 2023, we performed a quantitative impairment assessment for our Business reporting unit given the low excess of fair value over carrying value identified in our 2022 annual impairment assessment and increased competitive and market pressures experienced throughout 2023. These pressures resulted in lower projected cash flows primarily driven by secular declines in wireline services and products across our Business customer groups. In connection with Verizon’s annual budget process in the fourth quarter of 2023, leadership completed a comprehensive five-year strategic planning review of our Business reporting unit resulting in declines in financial projections driven by market dynamics as compared to the prior year five-year strategic planning cycle. The revised projections were used as a key input into the Business reporting unit’s annual goodwill impairment test performed in the fourth quarter of 2023. In addition, changes in the macroeconomic environment, including interest rate and inflationary pressures also impacted the fair value of the reporting unit. We applied a combination of a market approach and a discounted cash flow method reflecting current assumptions and inputs, including our revised projections, discount rate and expected growth rates, which resulted in the determination that the fair value of our Business reporting unit was less than its carrying amount. As a result, in the fourth quarter of 2023, we recorded a noncash goodwill impairment charge of approximately $ 5.8 billion ($ 5.8 billion after-tax) in our consolidated statement of income. </context> | us-gaap:GoodwillImpairmentLossNetOfTax |
During December 2024, we completed a transaction with Vertical Bridge REIT, LLC (Vertical Bridge) pursuant to which Vertical Bridge obtained the exclusive rights to lease, operate and manage over 6,000 wireless towers from Verizon in exchange for an upfront payment of $ 2.8 billion. Under the terms of the agreement, Vertical Bridge has exclusive rights to lease, operate and manage the towers over an average term of approximately 30 years, with the option to acquire the towers at the end of the lease terms. We have leased back a portion of the capacity on the towers from Vertical Bridge for an initial term of 10 years, with eight optional renewal terms of five years each, subject to certain early termination rights. We continue to include the towers in Property, plant and equipment, net in our consolidated balance sheets and depreciate them accordingly. The upfront payment, which is primarily included within Other liabilities on our consolidated balance sheet, is accounted for as prepaid rent and as a financing obligation. We recorded prepaid rent of $ 2.0 billion related to the portion of the towers for which the right-of-use has passed to Vertical Bridge, which is reflected in Cash flows from operating activities in our consolidated statements of cash flows. In addition, we recorded a financing obligation of $ 830 million related to the portion of the towers that we continue to occupy and use for network operations, which is reflected in Cash flows from financing activities in our consolidated statements of cash flows. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> During December 2024, we completed a transaction with Vertical Bridge REIT, LLC (Vertical Bridge) pursuant to which Vertical Bridge obtained the exclusive rights to lease, operate and manage over 6,000 wireless towers from Verizon in exchange for an upfront payment of $ 2.8 billion. Under the terms of the agreement, Vertical Bridge has exclusive rights to lease, operate and manage the towers over an average term of approximately 30 years, with the option to acquire the towers at the end of the lease terms. We have leased back a portion of the capacity on the towers from Vertical Bridge for an initial term of 10 years, with eight optional renewal terms of five years each, subject to certain early termination rights. We continue to include the towers in Property, plant and equipment, net in our consolidated balance sheets and depreciate them accordingly. The upfront payment, which is primarily included within Other liabilities on our consolidated balance sheet, is accounted for as prepaid rent and as a financing obligation. We recorded prepaid rent of $ 2.0 billion related to the portion of the towers for which the right-of-use has passed to Vertical Bridge, which is reflected in Cash flows from operating activities in our consolidated statements of cash flows. In addition, we recorded a financing obligation of $ 830 million related to the portion of the towers that we continue to occupy and use for network operations, which is reflected in Cash flows from financing activities in our consolidated statements of cash flows. </context> | us-gaap:PrepaidRent |
During December 2024, we completed a transaction with Vertical Bridge REIT, LLC (Vertical Bridge) pursuant to which Vertical Bridge obtained the exclusive rights to lease, operate and manage over 6,000 wireless towers from Verizon in exchange for an upfront payment of $ 2.8 billion. Under the terms of the agreement, Vertical Bridge has exclusive rights to lease, operate and manage the towers over an average term of approximately 30 years, with the option to acquire the towers at the end of the lease terms. We have leased back a portion of the capacity on the towers from Vertical Bridge for an initial term of 10 years, with eight optional renewal terms of five years each, subject to certain early termination rights. We continue to include the towers in Property, plant and equipment, net in our consolidated balance sheets and depreciate them accordingly. The upfront payment, which is primarily included within Other liabilities on our consolidated balance sheet, is accounted for as prepaid rent and as a financing obligation. We recorded prepaid rent of $ 2.0 billion related to the portion of the towers for which the right-of-use has passed to Vertical Bridge, which is reflected in Cash flows from operating activities in our consolidated statements of cash flows. In addition, we recorded a financing obligation of $ 830 million related to the portion of the towers that we continue to occupy and use for network operations, which is reflected in Cash flows from financing activities in our consolidated statements of cash flows. | text | 830 | monetaryItemType | text: <entity> 830 </entity> <entity type> monetaryItemType </entity type> <context> During December 2024, we completed a transaction with Vertical Bridge REIT, LLC (Vertical Bridge) pursuant to which Vertical Bridge obtained the exclusive rights to lease, operate and manage over 6,000 wireless towers from Verizon in exchange for an upfront payment of $ 2.8 billion. Under the terms of the agreement, Vertical Bridge has exclusive rights to lease, operate and manage the towers over an average term of approximately 30 years, with the option to acquire the towers at the end of the lease terms. We have leased back a portion of the capacity on the towers from Vertical Bridge for an initial term of 10 years, with eight optional renewal terms of five years each, subject to certain early termination rights. We continue to include the towers in Property, plant and equipment, net in our consolidated balance sheets and depreciate them accordingly. The upfront payment, which is primarily included within Other liabilities on our consolidated balance sheet, is accounted for as prepaid rent and as a financing obligation. We recorded prepaid rent of $ 2.0 billion related to the portion of the towers for which the right-of-use has passed to Vertical Bridge, which is reflected in Cash flows from operating activities in our consolidated statements of cash flows. In addition, we recorded a financing obligation of $ 830 million related to the portion of the towers that we continue to occupy and use for network operations, which is reflected in Cash flows from financing activities in our consolidated statements of cash flows. </context> | us-gaap:FinanceLeaseLiability |
For the period ending December 2024, the debt obligations bore interest at floating rates, including floating rates associated with the Secured Overnight Financing Rate (SOFR) for the interest period plus an applicable interest margin per annum. Floating rates associated with SOFR for the interest payments made in December 2024 ranged from 4.598 % to 5.556 %. | text | 4.598 | percentItemType | text: <entity> 4.598 </entity> <entity type> percentItemType </entity type> <context> For the period ending December 2024, the debt obligations bore interest at floating rates, including floating rates associated with the Secured Overnight Financing Rate (SOFR) for the interest period plus an applicable interest margin per annum. Floating rates associated with SOFR for the interest payments made in December 2024 ranged from 4.598 % to 5.556 %. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
For the period ending December 2024, the debt obligations bore interest at floating rates, including floating rates associated with the Secured Overnight Financing Rate (SOFR) for the interest period plus an applicable interest margin per annum. Floating rates associated with SOFR for the interest payments made in December 2024 ranged from 4.598 % to 5.556 %. | text | 5.556 | percentItemType | text: <entity> 5.556 </entity> <entity type> percentItemType </entity type> <context> For the period ending December 2024, the debt obligations bore interest at floating rates, including floating rates associated with the Secured Overnight Financing Rate (SOFR) for the interest period plus an applicable interest margin per annum. Floating rates associated with SOFR for the interest payments made in December 2024 ranged from 4.598 % to 5.556 %. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. | text | 15.6 | monetaryItemType | text: <entity> 15.6 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. | text | 12.4 | monetaryItemType | text: <entity> 12.4 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. | text | 20.3 | monetaryItemType | text: <entity> 20.3 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. </context> | us-gaap:RepaymentsOfDebtAndCapitalLeaseObligations |
During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. | text | 8.5 | monetaryItemType | text: <entity> 8.5 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. </context> | us-gaap:RepaymentsOfDebt |
During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we received $ 15.6 billion of proceeds from long-term borrowings, which included $ 12.4 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 20.3 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 8.5 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2024 are expected to be used to fund certain renewable energy projects. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. | text | 8.6 | monetaryItemType | text: <entity> 8.6 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. | text | 6.6 | monetaryItemType | text: <entity> 6.6 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. | text | 10.6 | monetaryItemType | text: <entity> 10.6 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. </context> | us-gaap:RepaymentsOfDebtAndCapitalLeaseObligations |
During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. | text | 4.4 | monetaryItemType | text: <entity> 4.4 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. </context> | us-gaap:RepaymentsOfDebt |
During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we received $ 8.6 billion of proceeds from long-term borrowings, which included $ 6.6 billion of proceeds from asset-backed debt transactions. The net proceeds were primarily used for general corporate purposes including the repayment of debt and the funding of certain renewable energy projects. We used $ 10.6 billion of cash to repay and repurchase long-term borrowings and finance lease obligations, including $ 4.4 billion to prepay and repay asset-backed, long-term borrowings. The net proceeds of approximately $ 1.0 billion from the notes issued in 2023 were used to fund certain renewable energy projects. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
The debt exchange offers above meet the criteria to be accounted for as a modification of debt. As a result, the excess of the principal amount of notes exchanged over the principal amount of new notes issued of $ 65 million was recorded as a premium to Long-term debt in the consolidated balance sheets. | text | 65 | monetaryItemType | text: <entity> 65 </entity> <entity type> monetaryItemType </entity type> <context> The debt exchange offers above meet the criteria to be accounted for as a modification of debt. As a result, the excess of the principal amount of notes exchanged over the principal amount of new notes issued of $ 65 million was recorded as a premium to Long-term debt in the consolidated balance sheets. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
2024, we recorded gains of $ 267 million in connection with the open market repurchases, which were reflected within | text | 267 | monetaryItemType | text: <entity> 267 </entity> <entity type> monetaryItemType </entity type> <context> 2024, we recorded gains of $ 267 million in connection with the open market repurchases, which were reflected within </context> | us-gaap:GainLossOnRepurchaseOfDebtInstrument |
In 2024, we issued $ 27.5 billion in net proceeds and made $ 27.5 billion in principal repayments of commercial paper. These transactions are reflected within Cash flows from financing activities in our consolidated statements of cash flows on a net basis. As of December 31, 2024, we had no commercial paper outstanding. | text | 27.5 | monetaryItemType | text: <entity> 27.5 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we issued $ 27.5 billion in net proceeds and made $ 27.5 billion in principal repayments of commercial paper. These transactions are reflected within Cash flows from financing activities in our consolidated statements of cash flows on a net basis. As of December 31, 2024, we had no commercial paper outstanding. </context> | us-gaap:ProceedsFromShortTermDebt |
In 2024, we issued $ 27.5 billion in net proceeds and made $ 27.5 billion in principal repayments of commercial paper. These transactions are reflected within Cash flows from financing activities in our consolidated statements of cash flows on a net basis. As of December 31, 2024, we had no commercial paper outstanding. | text | 27.5 | monetaryItemType | text: <entity> 27.5 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we issued $ 27.5 billion in net proceeds and made $ 27.5 billion in principal repayments of commercial paper. These transactions are reflected within Cash flows from financing activities in our consolidated statements of cash flows on a net basis. As of December 31, 2024, we had no commercial paper outstanding. </context> | us-gaap:RepaymentsOfShortTermDebt |
In 2024, we issued $ 27.5 billion in net proceeds and made $ 27.5 billion in principal repayments of commercial paper. These transactions are reflected within Cash flows from financing activities in our consolidated statements of cash flows on a net basis. As of December 31, 2024, we had no commercial paper outstanding. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we issued $ 27.5 billion in net proceeds and made $ 27.5 billion in principal repayments of commercial paper. These transactions are reflected within Cash flows from financing activities in our consolidated statements of cash flows on a net basis. As of December 31, 2024, we had no commercial paper outstanding. </context> | us-gaap:CommercialPaper |
As of December 31, 2024, the carrying value of our asset-backed debt was $ 26.1 billion. Our asset-backed debt includes Asset-Backed Notes (ABS Notes) issued to third-party investors (Investors) and loans (ABS Financing Facilities) received from banks and their conduit facilities (collectively, the Banks). Our consolidated asset-backed debt bankruptcy remote legal entities (each, an ABS Entity, or collectively, the ABS Entities) issue the debt or are otherwise party to the transaction documentation in connection with our asset-backed debt transactions. Under the terms of our asset-backed debt, Cellco Partnership (Cellco), a wholly-owned subsidiary of the Company, and certain other Company affiliates (collectively, the Originators) transfer device payment plan agreement receivables and certain other receivables (collectively referred to as certain receivables) or a participation interest in certain other receivables to one of the ABS Entities, which in turn transfers such receivables and participation interest to another ABS Entity that issues the debt. Verizon entities retain the equity interests and residual interests, as applicable, in the ABS Entities, which represent the rights to all funds not needed to make required payments on the asset-backed debt and other related payments and expenses. | text | 26.1 | monetaryItemType | text: <entity> 26.1 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the carrying value of our asset-backed debt was $ 26.1 billion. Our asset-backed debt includes Asset-Backed Notes (ABS Notes) issued to third-party investors (Investors) and loans (ABS Financing Facilities) received from banks and their conduit facilities (collectively, the Banks). Our consolidated asset-backed debt bankruptcy remote legal entities (each, an ABS Entity, or collectively, the ABS Entities) issue the debt or are otherwise party to the transaction documentation in connection with our asset-backed debt transactions. Under the terms of our asset-backed debt, Cellco Partnership (Cellco), a wholly-owned subsidiary of the Company, and certain other Company affiliates (collectively, the Originators) transfer device payment plan agreement receivables and certain other receivables (collectively referred to as certain receivables) or a participation interest in certain other receivables to one of the ABS Entities, which in turn transfers such receivables and participation interest to another ABS Entity that issues the debt. Verizon entities retain the equity interests and residual interests, as applicable, in the ABS Entities, which represent the rights to all funds not needed to make required payments on the asset-backed debt and other related payments and expenses. </context> | us-gaap:SecuredDebt |
, we made aggregate principal repayments of $ 4.5 billion and $ 3.7 billion, respectively, in connection with anticipated redemptions of ABS Notes and notes that have entered the amortization period, including payments in connection with any note redemptions. | text | 4.5 | monetaryItemType | text: <entity> 4.5 </entity> <entity type> monetaryItemType </entity type> <context> , we made aggregate principal repayments of $ 4.5 billion and $ 3.7 billion, respectively, in connection with anticipated redemptions of ABS Notes and notes that have entered the amortization period, including payments in connection with any note redemptions. </context> | us-gaap:RepaymentsOfDebt |
, we made aggregate principal repayments of $ 4.5 billion and $ 3.7 billion, respectively, in connection with anticipated redemptions of ABS Notes and notes that have entered the amortization period, including payments in connection with any note redemptions. | text | 3.7 | monetaryItemType | text: <entity> 3.7 </entity> <entity type> monetaryItemType </entity type> <context> , we made aggregate principal repayments of $ 4.5 billion and $ 3.7 billion, respectively, in connection with anticipated redemptions of ABS Notes and notes that have entered the amortization period, including payments in connection with any note redemptions. </context> | us-gaap:RepaymentsOfDebt |
In January 2025, we issued $ 1.1 billion aggregate principal amount of two series of senior and junior ABS Notes, with a blended interest rate of approximately 4.740 % and 4.970 %, through an ABS Entity. In addition, in connection with an anticipated redemption of ABS Notes, we made a principal repayment, in whole, for $ 800 million. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> In January 2025, we issued $ 1.1 billion aggregate principal amount of two series of senior and junior ABS Notes, with a blended interest rate of approximately 4.740 % and 4.970 %, through an ABS Entity. In addition, in connection with an anticipated redemption of ABS Notes, we made a principal repayment, in whole, for $ 800 million. </context> | us-gaap:DebtInstrumentFaceAmount |
In January 2025, we issued $ 1.1 billion aggregate principal amount of two series of senior and junior ABS Notes, with a blended interest rate of approximately 4.740 % and 4.970 %, through an ABS Entity. In addition, in connection with an anticipated redemption of ABS Notes, we made a principal repayment, in whole, for $ 800 million. | text | 4.740 | percentItemType | text: <entity> 4.740 </entity> <entity type> percentItemType </entity type> <context> In January 2025, we issued $ 1.1 billion aggregate principal amount of two series of senior and junior ABS Notes, with a blended interest rate of approximately 4.740 % and 4.970 %, through an ABS Entity. In addition, in connection with an anticipated redemption of ABS Notes, we made a principal repayment, in whole, for $ 800 million. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In January 2025, we issued $ 1.1 billion aggregate principal amount of two series of senior and junior ABS Notes, with a blended interest rate of approximately 4.740 % and 4.970 %, through an ABS Entity. In addition, in connection with an anticipated redemption of ABS Notes, we made a principal repayment, in whole, for $ 800 million. | text | 4.970 | percentItemType | text: <entity> 4.970 </entity> <entity type> percentItemType </entity type> <context> In January 2025, we issued $ 1.1 billion aggregate principal amount of two series of senior and junior ABS Notes, with a blended interest rate of approximately 4.740 % and 4.970 %, through an ABS Entity. In addition, in connection with an anticipated redemption of ABS Notes, we made a principal repayment, in whole, for $ 800 million. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In January 2025, we issued $ 1.1 billion aggregate principal amount of two series of senior and junior ABS Notes, with a blended interest rate of approximately 4.740 % and 4.970 %, through an ABS Entity. In addition, in connection with an anticipated redemption of ABS Notes, we made a principal repayment, in whole, for $ 800 million. | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> In January 2025, we issued $ 1.1 billion aggregate principal amount of two series of senior and junior ABS Notes, with a blended interest rate of approximately 4.740 % and 4.970 %, through an ABS Entity. In addition, in connection with an anticipated redemption of ABS Notes, we made a principal repayment, in whole, for $ 800 million. </context> | us-gaap:RepaymentsOfDebt |
prepaid an aggregate of $ 900 million in January 2024, | text | 900 | monetaryItemType | text: <entity> 900 </entity> <entity type> monetaryItemType </entity type> <context> prepaid an aggregate of $ 900 million in January 2024, </context> | us-gaap:RepaymentsOfDebt |
borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. | text | 600 | monetaryItemType | text: <entity> 600 </entity> <entity type> monetaryItemType </entity type> <context> borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. </context> | us-gaap:ProceedsFromLinesOfCredit |
borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. | text | 900 | monetaryItemType | text: <entity> 900 </entity> <entity type> monetaryItemType </entity type> <context> borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. </context> | us-gaap:RepaymentsOfDebt |
borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. | text | 225 | monetaryItemType | text: <entity> 225 </entity> <entity type> monetaryItemType </entity type> <context> borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. </context> | us-gaap:ProceedsFromLinesOfCredit |
borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. | text | 1.2 | monetaryItemType | text: <entity> 1.2 </entity> <entity type> monetaryItemType </entity type> <context> borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. </context> | us-gaap:ProceedsFromLinesOfCredit |
borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. | text | 950 | monetaryItemType | text: <entity> 950 </entity> <entity type> monetaryItemType </entity type> <context> borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. </context> | us-gaap:RepaymentsOfDebt |
borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. | text | 450 | monetaryItemType | text: <entity> 450 </entity> <entity type> monetaryItemType </entity type> <context> borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. </context> | us-gaap:ProceedsFromLinesOfCredit |
borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. | text | 1.6 | monetaryItemType | text: <entity> 1.6 </entity> <entity type> monetaryItemType </entity type> <context> borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. </context> | us-gaap:ProceedsFromLinesOfCredit |
borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. | text | 650 | monetaryItemType | text: <entity> 650 </entity> <entity type> monetaryItemType </entity type> <context> borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. </context> | us-gaap:ProceedsFromLinesOfCredit |
borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. | text | 8.0 | monetaryItemType | text: <entity> 8.0 </entity> <entity type> monetaryItemType </entity type> <context> borrowed an additional $ 600 million in March 2024, prepaid an aggregate of $ 900 million in April 2024, borrowed an additional $ 225 million in June 2024, prepaid an aggregate of $ 1.2 billion in August 2024, prepaid an aggregate of $ 950 million in September 2024, borrowed an additional $ 450 million in September 2024, borrowed an additional $ 1.6 billion in October 2024 and borrowed an additional $ 650 million in December 2024. The aggregate outstanding balance under the 2021 ABS Financing Facility was $ 8.0 billion as of December 31, 2024. </context> | us-gaap:LongTermDebt |
Under the loan agreement outstanding in connection with the ABS Financing Facility originally entered into in 2022 and initially renewed in 2023 (2022 ABS Financing Facility), we borrowed an additional $ 1.1 billion in June 2024. In December 2024, we renewed the loan agreement in connection with the 2022 ABS Financing Facility which reset the revolving period by one year and we borrowed an additional $ 1.0 billion. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> Under the loan agreement outstanding in connection with the ABS Financing Facility originally entered into in 2022 and initially renewed in 2023 (2022 ABS Financing Facility), we borrowed an additional $ 1.1 billion in June 2024. In December 2024, we renewed the loan agreement in connection with the 2022 ABS Financing Facility which reset the revolving period by one year and we borrowed an additional $ 1.0 billion. </context> | us-gaap:ProceedsFromLinesOfCredit |
Under the loan agreement outstanding in connection with the ABS Financing Facility originally entered into in 2022 and initially renewed in 2023 (2022 ABS Financing Facility), we borrowed an additional $ 1.1 billion in June 2024. In December 2024, we renewed the loan agreement in connection with the 2022 ABS Financing Facility which reset the revolving period by one year and we borrowed an additional $ 1.0 billion. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> Under the loan agreement outstanding in connection with the ABS Financing Facility originally entered into in 2022 and initially renewed in 2023 (2022 ABS Financing Facility), we borrowed an additional $ 1.1 billion in June 2024. In December 2024, we renewed the loan agreement in connection with the 2022 ABS Financing Facility which reset the revolving period by one year and we borrowed an additional $ 1.0 billion. </context> | us-gaap:ProceedsFromLinesOfCredit |
he aggregate outstanding balance under the 2022 ABS Financing Facility was $ 5.0 billion as of | text | 5.0 | monetaryItemType | text: <entity> 5.0 </entity> <entity type> monetaryItemType </entity type> <context> he aggregate outstanding balance under the 2022 ABS Financing Facility was $ 5.0 billion as of </context> | us-gaap:LongTermDebt |
As of December 31, 2024, there have been no drawings against the revolving credit facility since its inception. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, there have been no drawings against the revolving credit facility since its inception. </context> | us-gaap:ProceedsFromLinesOfCredit |
During 2024, there were no drawings from these | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> During 2024, there were no drawings from these </context> | us-gaap:ProceedsFromLinesOfCredit |
2023, we drew down $ 1.0 billion from these facilities. Borrowings under certain of these facilities are amortized semi-annually in equal installments up to the applicable maturity dates. Maturities reflect maturity dates of principal amounts outstanding. Any amounts borrowed under these facilities and subsequently repaid cannot be reborrowed. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> 2023, we drew down $ 1.0 billion from these facilities. Borrowings under certain of these facilities are amortized semi-annually in equal installments up to the applicable maturity dates. Maturities reflect maturity dates of principal amounts outstanding. Any amounts borrowed under these facilities and subsequently repaid cannot be reborrowed. </context> | us-gaap:ProceedsFromLinesOfCredit |
In March 2024, we amended our $ 9.5 billion revolving credit facility to increase the capacity to $ 12.0 billion and extended its maturity to 2028. | text | 9.5 | monetaryItemType | text: <entity> 9.5 </entity> <entity type> monetaryItemType </entity type> <context> In March 2024, we amended our $ 9.5 billion revolving credit facility to increase the capacity to $ 12.0 billion and extended its maturity to 2028. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
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