VZ · 10-Q · 2026Q2 · Full report

U.S. Tax Law Changes

VERIZON COMMUNICATIONS INC · 2026-07-31 · Importance 65 · Surprise 60

Verizon reported that operating cash flow increased $1.7 billion during the six months ended June 30, 2026, primarily because of the timing of cash tax payments resulting from the One Big Beautiful Bill legislation. The legislation also affected working-capital timing, while lower upgrade volumes provided additional working-capital benefits. The filing does not quantify the legislation’s full-year effect on tax expense or cash taxes, but identifies it as a material driver of year-to-date operating cash flow.