Changes to debt during the six months ended June 30, 2017 are as follows:


(dollars in millions)	Debt Maturing within One Year			Long-term Debt			Total
Balance at January 1, 2017	$	2,645		$	105,433		$	108,078
Proceeds from long-term borrowings		65			15,944			16,009
Proceeds from asset-backed long-term borrowings		-			2,878			2,878
Repayments of long-term borrowings and capital leases obligations		(3,158	)		(7,136	)		(10,294	)
Decrease in short-term obligations, excluding current maturities		(152	)		-			(152	)
Reclassifications of long-term debt		1,569			(1,569	)		-
Debt acquired (Note 2)		7			52			59
Other		177			788			965

Balance at June 30, 2017	$	1,153		$	116,390		$	117,543

The table below lists the series of Old Notes included in the January Exchange Offers for the 2022 New Notes and the January Cash Offers, referred to as Group 1:


(dollars in millions)	Interest Rate		Maturity		Principal Amount Outstanding		Principal Amount Accepted for Exchange		Principal Amount Accepted for Cash ⁽¹⁾
Verizon Communications Inc.		5.500%		2018	$	737	$	83	$	8
		6.100%		2018		753		77		9
		3.650%		2018		2,698		508		97
		2.550%		2019		500		154		35
		1.375%		2019		1,000		376		38
		2.625%		2020		3,304		1,925		55

							$	3,123	$	242


⁽¹⁾ Includes amounts acquired pursuant to the subsequent cash purchases.

The table below lists the series of Old Notes included in the January Exchange Offers for the 2039 New Notes and the January Cash Offers, referred to as Group 2:



(dollars in millions)	Interest Rate		Maturity		Principal Amount Outstanding		Principal Amount Accepted for Exchange		Principal Amount Accepted for Cash ⁽¹⁾
Verizon Communications Inc.		5.150%		2023	$	8,517	$	715	$	217
		7.750%		2030		930		184		4
		7.750%		2032		218		2		-
		6.400%		2033		1,729		640		6

							$	1,541	$	227

⁽¹⁾ Includes amounts acquired pursuant to the subsequent cash purchases.

The table below lists the series of Old Notes included in the January Exchange Offers for the 2049 New Notes and the January Cash Offers, referred to as Group 3:


(dollars in millions)	Interest Rate		Maturity		Principal Amount Outstanding		Principal Amount Accepted for Exchange		Principal Amount Accepted for Cash ⁽¹⁾
Verizon Communications Inc.		5.850%		2035	$	1,250	$	447	$	4
		6.250%		2037		636		189		5
		6.400%		2038		750		228		6
		6.900%		2038		384		111		4
		8.950%		2039		290		48		-
		7.350%		2039		412		225		1
		6.000%		2041		1,000		480		20
		6.550%		2043		4,245		1,933		46

							$	3,661	$	86


⁽¹⁾ Includes amounts acquired pursuant to the subsequent cash purchases.

On March 13, 2017, we announced the commencement of a tender offer (the March Tender Offer) to purchase for cash any and all of the series of notes listed below. The Tender Offer expired on March 17, 2017 and most of which was settled on March 20, 2017. In addition to the purchase price, any accrued and unpaid interest on the purchased notes was paid to the date of purchase.



(dollars in millions, except for Purchase Price)	Interest Rate		Maturity		Principal Amount Outstanding		Purchase Price ⁽¹⁾		Principal Amount Purchased
Verizon Communications Inc.		8.950%		2039	$	242	$	1,537.18	$	131
		7.750%		2032		215		1,341.68		36
		6.550%		2043		2,266		1,239.85		847
		6.400%		2033		1,083		1,216.85		612
		7.350%		2039		186		1,324.60		27
		6.900%		2038		270		1,273.29		49
		7.750%		2030		742		1,379.04		160
		6.400%		2038		515		1,206.61		118
		6.250%		2037		443		1,189.56		103
		5.850%		2035		800		1,151.79		249
		6.000%		2041		500		1,151.23		206
		6.100%		2018		667		1,048.45		153
		5.500%		2018		646		1,037.01		113

Verizon New York Inc.		7.375%		2032		244		1,285.50		39
		6.500%		2028		72		1,177.23		1

Verizon Pennsylvania LLC		8.750%		2031		53		1,426.33		17
		8.350%		2030		48		1,384.37		16
		6.000%		2028		68		1,139.69		11

Verizon Delaware LLC		8.625%		2031		10		1,416.70		8
Verizon Maryland LLC		8.300%		2031		24		1,378.75		2
		8.000%		2029		28		1,332.71		1
		5.125%		2033		179		1,063.06		15

Verizon Virginia LLC		8.375%		2029		19		1,367.57		9
		7.875%		2022		57		1,206.35		-

Verizon New England Inc.		7.875%		2029		173		1,322.35		26

Verizon New Jersey Inc.		7.850%		2029		87		1,319.96		8
		8.000%		2022		146		1,227.16		25

GTE LLC		8.750%		2021		207		1,240.28		14
		6.940%		2028		413		1,270.73		85
		6.840%		2018		332		1,056.27		38

									$	3,119

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

The assets and liabilities related to our asset-backed debt arrangements included on our condensed consolidated balance sheets were as follows:


(dollars in millions)	At June 30, 2017		At December 31, 2016
Assets
Account receivable, net	$	6,472	$	3,383
Prepaid expenses and other		396		236
Other assets		3,071		2,383

Liabilities
Accounts payable and accrued liabilities		4		4
Long-term debt		7,869		4,988