Verizon Communications Inc., adjusted current assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	36,814)	37,857)	36,728)	54,594)	37,473)
Adjustments
Add: Allowance for credit losses	1,017)	826)	896)	1,252)	733)
After Adjustment
Adjusted current assets	37,831)	38,683)	37,624)	55,846)	38,206)

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Verizon Communications Inc., adjusted total assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	380,255)	379,680)	366,596)	316,481)	291,727)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowance for credit losses	1,017)	826)	896)	1,252)	733)
Less: Deferred tax assets²	148)	173)	168)	88)	84)
After Adjustment
Adjusted total assets	381,124)	380,333)	367,324)	317,645)	292,376)

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax assets. See details »

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Verizon Communications Inc., adjusted total liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	286,456)	287,217)	283,396)	247,209)	228,892)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax liabilities²	45,781)	43,441)	40,685)	35,711)	34,703)
After Adjustment
Adjusted total liabilities	240,675)	243,776)	242,711)	211,498)	194,189)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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Verizon Communications Inc., adjusted equity attributable to Verizon

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Equity attributable to Verizon	92,430)	91,144)	81,790)	67,842)	61,395)
Adjustments
Less: Net deferred tax asset (liability)¹	(45,633)	(43,268)	(40,517)	(35,623)	(34,619)
Add: Allowance for credit losses	1,017)	826)	896)	1,252)	733)
Add: Noncontrolling interests	1,369)	1,319)	1,410)	1,430)	1,440)
After Adjustment
Adjusted total equity	140,449)	136,557)	124,613)	106,147)	98,187)

¹ Net deferred tax asset (liability). See details »

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Verizon Communications Inc., adjusted capitalization table

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Debt maturing within one year	12,973)	9,963)	7,443)	5,889)	10,777)
Long-term debt, excluding maturing within one year	137,701)	140,676)	143,425)	123,173)	100,712)
Total reported debt	150,674)	150,639)	150,868)	129,062)	111,489)
Equity attributable to Verizon	92,430)	91,144)	81,790)	67,842)	61,395)
Total reported capital	243,104)	241,783)	232,658)	196,904)	172,884)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Current operating lease liabilities²	4,266)	4,134)	3,859)	3,485)	3,261)
Add: Non-current operating lease liabilities³	20,002)	21,558)	23,203)	18,000)	18,393)
Adjusted total debt	174,942)	176,331)	177,930)	150,547)	133,143)
Adjustments to Equity
Less: Net deferred tax asset (liability)⁴	(45,633)	(43,268)	(40,517)	(35,623)	(34,619)
Add: Allowance for credit losses	1,017)	826)	896)	1,252)	733)
Add: Noncontrolling interests	1,369)	1,319)	1,410)	1,430)	1,440)
Adjusted total equity	140,449)	136,557)	124,613)	106,147)	98,187)
After Adjustment
Adjusted total capital	315,391)	312,888)	302,543)	256,694)	231,330)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liabilities. See details »

³ Non-current operating lease liabilities. See details »

⁴ Net deferred tax asset (liability). See details »

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Verizon Communications Inc., adjusted net income attributable to Verizon

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income attributable to Verizon	11,614)	21,256)	22,065)	17,801)	19,265)
Adjustments
Add: Deferred income tax expense (benefit)¹	2,388)	2,973)	4,264)	1,553)	1,232)
Add: Increase (decrease) in allowance for credit losses	191)	(70)	(356)	519)	(32)
Add: Other comprehensive income (loss), net of tax	485)	(938)	(856)	(1,069)	(1,372)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	481)	492)	553)	547)	523)
After Adjustment
Adjusted net income	15,159)	23,713)	25,670)	19,351)	19,616)

¹ Deferred income tax expense (benefit). See details »

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Verizon Communications Inc. (NYSE:VZ)

Adjustments to Financial Statements