v3.26.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
EBP 105  
EBP, Master Trust [Line Items]  
EBP, Investment, Fair Value and NAV
The following table sets forth by level, within the fair value hierarchy, the Master Trust's assets measured at fair value as of December 31, 2025 (in thousands):
Assets at Fair Value as of December 31, 2025
Level 1Level 2Level 3Total
Investments
Cash and cash equivalents $3 $20,493 $— $20,496 
Verizon common stock 3,782,978 — — 3,782,978 
Mutual funds
U.S. fixed income 118,070 — — 118,070 
U.S. small cap 469,276 — — 469,276 
International equity 279,839 — — 279,839 
Global fixed income 111,354 — — 111,354 
Equity
International equity 3,160,526 78 — 3,160,604 
U.S. equity 3,122,223 20,994 — 3,143,217 
Fixed income
U.S. bonds — 1,270,384 — 1,270,384 
U.S. treasuries and agencies 2,132,885 957,812 — 3,090,697 
Asset-backed securities — 122,876 — 122,876 
International bonds — 677,709 — 677,709 
Convertible securities168 5,192 — 5,360 
Other - Derivatives1,786 32,010 — 33,796 
Total investments in the fair value hierarchy13,179,108 3,107,548 — 16,286,656 
Investments measured at NAV24,788,347 
Total investments at fair value$13,179,108 $3,107,548 $— $41,075,003 
The following table sets forth by level, within the fair value hierarchy, the Master Trust's assets measured at fair value as of December 31, 2024 (in thousands):
 Assets at Fair Value as of December 31, 2024
 Level 1Level 2Level 3Total
Investments
Cash and cash equivalents$352 $27,688 $— $28,040 
Verizon common stock3,871,715 — — 3,871,715 
Mutual funds
U.S. fixed income118,679 — — 118,679 
U.S. small cap476,659 — — 476,659 
International equity211,084 — — 211,084 
Global fixed income115,919 — — 115,919 
Equity
International equity3,116,277 30 — 3,116,307 
U.S. equity6,645,599 175,106 — 6,820,705 
Fixed income
U.S. bonds— 1,199,279 — 1,199,279 
U.S. treasuries and agencies1,970,561 722,668 — 2,693,229 
Asset-backed securities— 140,931 — 140,931 
International bonds— 694,584 — 694,584 
Convertible securities533 8,080 — 8,613 
Other - Derivatives3,022 19,137 — 22,159 
Total investments in the fair value hierarchy16,530,400 2,987,503 — 19,517,903 
Investments measured at NAV18,769,801 
Total investments at fair value$16,530,400 $2,987,503 $— $38,287,704