Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name VERIZON COMMUNICATIONS INC
CIK 0000732712
Accession number 0001193125-14-073266
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/732712/000119312514073266/vz-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock

Significant components of deferred tax assets and liabilities are as follows:

 

     (dollars in millions)  
At December 31,    2013     2012  

Employee benefits

    $   10,242     $   13,644  

Tax loss and credit carry forwards

      2,747       4,819  

Uncollectible accounts receivable

      213       206  

Other - assets

      959       1,050  
  

 

 

  
     14,161       19,719  

Valuation allowances

      (1,596 )      (2,041 ) 
  

 

 

  

Deferred tax assets

      12,565       17,678  
  

 

 

  

Former MCI intercompany accounts receivable basis difference

      1,121       1,275  

Depreciation

      14,030       13,953  

Leasing activity

      997       1,208  

Wireless joint venture including wireless licenses

      23,032       22,171  

Other - liabilities

      1,470       1,320  
  

 

 

  

Deferred tax liabilities

      40,650       39,927  
  

 

 

  

Net deferred tax liability

    $ 28,085     $ 22,249  
  

 

 

  

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 14,161,000,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance -1,596,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 12,565,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -40,650,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -28,085,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 0
Deferred tax assets, net, noncurrent 0
Deferred tax liabilities, net, current 0
Deferred tax liabilities, net, noncurrent -28,639,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -28,085,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 12,565,000,000
Deferred tax liabilities, net -40,650,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -28,085,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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