v3.26.1
Equity and Accumulated Other Comprehensive Loss
 6 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
Equity and Accumulated Other Comprehensive Loss
Note 9. Equity and Accumulated Other Comprehensive Loss
Equity
Changes in the components of Total equity were as follows:
Three Months Ended June 30,
20262025
(dollars in millions, except per share amounts, and shares in thousands)SharesAmountSharesAmount
Common Stock
Balance at beginning of period4,291,434 $429 4,291,434 $429 
Balance at end of period4,291,434 429 4,291,434 429 
Additional Paid In Capital
Balance at beginning of period13,263 13,415 
Other
(5)(3)
Balance at end of period13,258 13,412 
Retained Earnings
Balance at beginning of period96,824 91,128 
Net income attributable to Verizon3,835 5,003 
Dividends declared ($0.7075, $0.6775 per share)
(2,931)(2,856)
Balance at end of period97,728 93,275 
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon(2,372)(1,489)
Foreign currency translation adjustments8 76 
Unrealized gain (loss) on cash flow hedges23 (21)
Unrealized gain (loss) on fair value hedges542 (39)
Unrealized gain on marketable securities1 — 
Defined benefit pension and postretirement plans14 (2)
Other comprehensive income588 14 
Balance at end of period attributable to Verizon(1,784)(1,475)
Treasury Stock
Balance at beginning of period(115,874)(5,335)(75,178)(3,295)
Shares purchased(21,289)(1,000)— — 
Employee plans505 23 70 3 
Balance at end of period(136,658)(6,312)(75,108)(3,292)
Deferred Compensation-ESOPs and Other
Balance at beginning of period500 534 
Restricted stock equity grant188 183 
Amortization(87)(3)
Balance at end of period601 714 
Noncontrolling Interests
Balance at beginning of period1,313 1,315 
Total comprehensive income114 118 
Distributions and other
(151)(135)
Balance at end of period1,276 1,298 
Total Equity$105,196 $104,361 
Six Months Ended June 30,
20262025
(dollars in millions, except per share amounts, and shares in thousands)SharesAmountSharesAmount
Common Stock
Balance at beginning of period4,291,434 $429 4,291,434 $429 
Balance at end of period4,291,434 429 4,291,434 429 
Additional Paid In Capital
Balance at beginning of period13,372 13,466 
Other
(114)(54)
Balance at end of period13,258 13,412 
Retained Earnings
Balance at beginning of period94,744 89,110 
Net income attributable to Verizon8,880 9,882 
Dividends declared ($1.4150, $1.3550 per share)
(5,896)(5,717)
Balance at end of period97,728 93,275 
Accumulated Other Comprehensive Loss
Balance at beginning of period attributable to Verizon(1,727)(923)
Foreign currency translation adjustments(20)143 
Unrealized gain on cash flow hedges46 — 
Unrealized gain (loss) on fair value hedges354 (692)
Unrealized gain (loss) on marketable securities(2)1 
Defined benefit pension and postretirement plans(435)(4)
Other comprehensive loss(57)(552)
Balance at end of period attributable to Verizon(1,784)(1,475)
Treasury Stock
Balance at beginning of period(74,258)(3,255)(81,753)(3,583)
Shares purchased(72,047)(3,500)— — 
Employee plans9,647 443 6,645 291 
Balance at end of period(136,658)(6,312)(75,108)(3,292)
Deferred Compensation-ESOPs and Other
Balance at beginning of period897 738 
Restricted stock equity grant329 374 
Amortization(625)(398)
Balance at end of period601 714 
Noncontrolling Interests
Balance at beginning of period1,281 1,338 
Total comprehensive income215 222 
Distributions and other
(220)(262)
Balance at end of period1,276 1,298 
Total Equity$105,196 $104,361 

Common Stock
On January 30, 2026, the Board of Directors of the Company authorized a share repurchase program for up to $25 billion of our common stock. The program will terminate when the aggregate consideration paid to purchase shares of our common stock reaches $25 billion, exclusive of any fees, commissions or other expenses, or a new share repurchase plan superseding the current plan is authorized, whichever is sooner. Under the program, shares may be repurchased in privately negotiated transactions, on the open market, or otherwise, including through plans complying with Rule 10b5-1 or Rule 10b-18 under the Exchange Act. The timing and number of shares purchased under the program, if any, will depend on prevailing stock prices, general economic and market conditions, and other considerations. The share repurchase program does not obligate us to acquire any particular amount of common stock, and the program may be suspended or discontinued at any time at our discretion.
In February 2026, we entered into ASR agreements with certain financial institution counterparties to repurchase shares of our common stock in exchange for an upfront payment of $2.5 billion and received an initial delivery of 45,116,772 shares of common stock using a reference price of $47.10. In March 2026, these ASR transactions were completed, and we received an additional 5,641,251 shares. This resulted in a total of 50,758,023 shares repurchased under the ASR agreements at an average repurchase price of $49.25, not including related excise tax.

In April 2026, we entered into an ASR agreement with a certain financial institution counterparty to repurchase shares of our common stock in exchange for an upfront payment of $1.0 billion and received an initial delivery of 17,993,226 shares of common stock using a reference price of $47.24. In June 2026, the ASR transaction was completed, and we received an additional 3,296,217 shares. This resulted in a total of 21,289,443 shares repurchased under the ASR agreement at an average repurchase price of $46.97, not including related excise tax. For the six months ended June 30, 2026, we repurchased a total of 72,047,466 shares for an aggregate payment of $3.5 billion. All shares received under the ASR agreements were excluded from the outstanding shares used to calculate the weighted average common shares outstanding for basic and diluted earnings per share from the date the respective shares were received by the Company and classified as treasury shares. At June 30, 2026, the maximum remaining aggregate consideration that could be paid by or on behalf of Verizon under our share repurchase program was $21.5 billion.

Common stock has been used from time to time to satisfy some of the funding requirements of employee and shareholder plans, including 9.6 million shares of common stock issued from treasury stock during the six months ended June 30, 2026.

Accumulated Other Comprehensive Loss
The changes in the balances of Accumulated other comprehensive loss by component were as follows:
(dollars in millions)Foreign 
currency translation adjustments		Unrealized gain (loss) on cash flow hedgesUnrealized gain (loss) on fair value hedgesUnrealized loss on marketable securitiesDefined benefit pension and postretirement plansTotal
Balance at January 1, 2026$(607)$(989)$(328)$— $197 $(1,727)
Excluded components recognized in other comprehensive income — — 386 — — 386 
Other comprehensive loss(20)— — (2)(452)(474)
Amounts reclassified to net income— 46 (32)— 17 31 
Net other comprehensive income (loss)(20)46 354 (2)(435)(57)
Balance at June 30, 2026$(627)$(943)$26 $(2)$(238)$(1,784)

The amounts presented above in Net other comprehensive income (loss) are net of taxes. The amounts reclassified to net income related to unrealized gain (loss) on cash flow hedges and unrealized gain (loss) on fair value hedges in the table above are included in Other income, net and Interest expense in our condensed consolidated statements of income. See Note 7 for additional information. The amounts reclassified to net income related to unrealized loss on marketable securities and defined benefit pension and postretirement plans in the table above are included in Other income, net in our condensed consolidated statements of income. See Note 8 for additional information.