Debt (Tables)

6 Months Ended

Jun. 30, 2014

Combined Schedule of Current and Noncurrent Debt and Capital Lease Obligations

Changes to debt during the six months ended June 30, 2014 are as follows:


(dollars in millions)	Debt Maturing within One Year			Long-term Debt			Total
Balance at January 1, 2014	$	3,933		$	89,658		$	93,591
Proceeds from long-term borrowings		–			20,245			20,245
Verizon Notes		–			5,000			5,000
Preferred Stock		–			1,650			1,650
Repayments of long-term borrowings and capital leases obligations		(2,516	)		(8,801	)		(11,317	)
Increase in short-term obligations, excluding current maturities		279			–			279
Reclassifications of long-term debt		565			(565	)		–
Other		22			509			531

Balance at June 30, 2014	$	2,283		$	107,696		$	109,979

Schedule of Notes Repurchased as part of a Tender Offer

On March 10, 2014, we announced the commencement of a tender offer (the Tender Offer) to purchase for cash any and all of the series of notes listed in the following table:


(dollars in millions, except for Purchase Price)	Interest Rate			Maturity		Principal Amount Outstanding		Purchase Price ⁽¹⁾		Principal Amount Purchased
Verizon Communications		6.10	%		2018	$	1,500	$	1,170.07	$	748
		5.50	%		2018		1,500		1,146.91		763
		8.75	%		2018		1,300		1,288.35		564
		5.55	%		2016		1,250		1,093.62		652
		5.50	%		2017		750		1,133.22		353

Cellco Partnership and Verizon Wireless Capital LLC		8.50	%		2018		1,000		1,279.63		619

Alltel Corporation		7.00	%		2016		300		1,125.26		157

GTE Corporation		6.84	%		2018		600		1,196.85		266

										$	4,122

⁽¹⁾	Per $1,000 principal amount of notes