XML 49 R25.htm IDEA: XBRL DOCUMENT v3.24.0.1
Additional Financial Information
 12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Financial Information
Note 15. Additional Financial Information
The following tables provide additional financial information related to our consolidated financial statements:

Income Statement Information
(dollars in millions)
Years Ended December 31,202320222021
Depreciation expense$14,937 $14,592 $14,119 
Interest costs on debt balances7,123 5,429 5,148 
Net amortization of debt discount219 214 178 
Capitalized interest costs(1,818)(2,030)(1,841)
Advertising expense3,847 3,556 3,394 
(dollars in millions)
Years Ended December 31,202320222021
Other income (expense), net
Interest income$354 $146 $48 
Other components of net periodic benefit (cost) income(938)2,386 3,785 
Net debt extinguishment gains (losses)308 (1,077)(3,541)
Other, net(37)(82)20 
$(313)$1,373 $312 
Balance Sheet Information
(dollars in millions)
At December 31,20232022
Prepaid expenses and other
Prepaid taxes$550 $167 
Deferred contract costs2,756 2,629 
Collateral payments related to derivative contracts1,406 2,286 
Restricted cash1,244 1,343 
Other prepaid expense and other1,651 1,933 
$7,607 $8,358 
Accounts payable and accrued liabilities
Accounts payable$10,021 $8,750 
Accrued expenses5,190 7,824 
Accrued vacation, salaries and wages4,060 3,950 
Interest payable1,570 1,577 
Taxes payable2,612 1,876 
$23,453 $23,977 
Other current liabilities
Dividends payable$2,821 $2,764 
Contract liability6,955 6,583 
Other2,755 2,750 
$12,531 $12,097 

As of December 31, 2023 and 2022, Property, plant and equipment includes approximately $3.8 billion and $6.0 billion of additions that have not yet been paid.
Cash Flow Information
(dollars in millions)
Years Ended December 31,202320222021
Cash Paid
Interest, net of amounts capitalized$4,384 $3,316 $3,435 
Income taxes, net of amounts refunded2,343 2,736 3,040 
Other, net Cash Flows from Operating Activities
Changes in device payment plan agreement non-current receivables$(2,975)$(4,919)$(2,438)
Net debt extinguishment (gains) losses(308)1,077 3,541 
Loss on spectrum licenses— — 223 
Gain on disposition of Media business— — (1,051)
Other, net(427)64 (368)
$(3,710)$(3,778)$(93)
Other, net Cash Flows from Financing Activities
Net debt related costs(1)
$(73)$(366)$(2,309)
Other, net(1,397)(1,706)(1,523)
$(1,470)$(2,072)$(3,832)
(1) These costs include the premiums paid for the early extinguishment of debt, fees paid in connection with exchange and tender offers, and settlements of associated instruments.

Supplier Finance Program
We maintain a voluntary supplier finance program (SFP) with a financial institution which provides certain suppliers the option, at their sole discretion, to participate in the program and sell their receivables due from Verizon to the financial institution on a non-recourse basis. The eligible suppliers negotiate the terms directly with the financial institution and we have no involvement in establishing those terms nor are we a party to these agreements.

Our payments associated with the invoices from the suppliers participating in the SFP are made to the financial institution according to the original invoice terms generally at 90 days from the invoice date and for the original invoice amount. No additional payments are exchanged between Verizon and the financial institution related to the SFP. Verizon does not pledge any assets nor provide any guarantees to the financial institution in connection with the SFP. The SFP can be terminated by Verizon or the financial institution with a 60-day notice period.
Confirmed obligations outstanding related to suppliers participating in the SFP are recorded within Accounts payable and accrued liabilities in our consolidated balance sheets and the associated payments are reflected in the operating activities section of our consolidated statements of cash flows. As of December 31, 2023 and 2022, $817 million and $1.0 billion, respectively, remained as confirmed obligations outstanding related to suppliers participating in the SFP.