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Equity and Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Equity and Accumulated Other Comprehensive Income
9.
Equity and Accumulated Other Comprehensive Income

Equity
Changes in the components of Total equity were as follows:
 
Attributable

 
Noncontrolling

 
Total

(dollars in millions)
to Verizon

 
Interests

 
Equity

Balance at January 1, 2018
$
43,096

 
$
1,591

 
$
44,687

Opening balance sheet adjustment related to adoption of Topic 606, ASU 2018-02 and other ASUs (Note 1)
2,862

 
44

 
2,906

Adjusted opening balance, January 1, 2018
45,958

 
1,635

 
47,593

 
 
 
 
 
 
Net income
13,589

 
385

 
13,974

Other comprehensive loss
(88
)
 
—

 
(88
)
Comprehensive income
13,501

 
385

 
13,886

 
 
 
 
 
 
Common stock
5

 
—

 
5

Contributed capital
2,335

 
—

 
2,335

Dividends declared
(7,365
)
 
—

 
(7,365
)
Common stock in treasury
152

 
—

 
152

Distributions and other
(91
)
 
(428
)
 
(519
)
Balance at September 30, 2018
$
54,495

 
$
1,592

 
$
56,087



Common Stock
Verizon did not repurchase any shares of Verizon common stock through its previously authorized share buyback program during the nine months ended September 30, 2018. At September 30, 2018, the maximum number of shares that could be purchased by or on behalf of Verizon under our share buyback program was 100 million.

Common stock has been used from time to time to satisfy some of the funding requirements of employee and shareowner plans, including 3.5 million common shares issued from Treasury stock during the nine months ended September 30, 2018.

In connection with our acquisition of Straight Path in February 2018, we issued approximately 49 million shares of Verizon common stock, valued at approximately $2.4 billion.

Accumulated Other Comprehensive Income
The changes in the balances of Accumulated other comprehensive income by component are as follows:
(dollars in millions)
Foreign 
currency
translation
adjustments

 
Unrealized
gain (loss) on cash
flow hedges

 
Unrealized
gain (loss) on
marketable
securities

 
Defined
benefit
pension and
postretirement
plans

 
Total

Balance at January 1, 2018
$
(468
)
 
$
(111
)
 
$
32

 
$
3,206

 
$
2,659

Opening balance sheet adjustment related to the adoption of ASU 2018-02 and other ASUs (Note 1)
(15
)
 
(24
)
 
(13
)
 
682

 
630

Adjusted opening balance, January 1, 2018
(483
)
 
(135
)
 
19

 
3,888

 
3,289

Other comprehensive income (loss)
(65
)
 
226

 
(5
)
 
(169
)
 
(13
)
Amounts reclassified to net income
(8
)
 
452

 
—

 
(519
)
 
(75
)
Net other comprehensive income (loss)
(73
)
 
678

 
(5
)
 
(688
)
 
(88
)
Balance at September 30, 2018
$
(556
)
 
$
543

 
$
14

 
$
3,200

 
$
3,201



The amounts presented above in net other comprehensive income (loss) are net of taxes. The amounts reclassified to net income related to unrealized gain on cash flow hedges in the table above are included in Other income (expense), 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 defined benefit pension and postretirement plans in the table above are included in Cost of services and Selling, general and administrative expense in our condensed consolidated statements of income. See Note 8 for additional information.