VZ · 10-Q · 2026Q2 · Full report

FX / Currency Impact

VERIZON COMMUNICATIONS INC · 2026-07-31 · Importance 10 · Surprise 6 · In source text

Verizon’s primary foreign-currency translation exposures at June 30, 2026 were the British Pound Sterling, Euro, Australian Dollar and Swedish Krona. The company uses cross-currency swaps to convert British Pound Sterling, Euro, Swiss Franc, Canadian Dollar and Australian Dollar cash flows into U.S. dollars and to mitigate transaction gains and losses. The notional amount of cross-currency swaps increased to $40.2 billion at June 30, 2026 from $36.1 billion at December 31, 2025. Verizon also held $600 million of Euro foreign-exchange forwards to hedge non-functional-currency monetary assets and liabilities of international subsidiaries.

Key facts

• The total notional amount of Verizon's cross currency swaps was $40.2 billion at June 30, 2026 and $36.1 billion at December 31, 2025. source
• The fair value of the asset of Verizon's cross currency swaps was $1.2 billion at June 30, 2026 and $1.4 billion at December 31, 2025; the fair value of the liability was $1.4 billion at June 30, 2026 and $1.2 billion at December 31, 2025. source
• Verizon's foreign exchange forwards had total notional amounts of $600 million at June 30, 2026 and $570 million at December 31, 2025, and fair value of asset and liability was insignificant at both dates. source
• Verizon's primary translation exposure at June 30, 2026 was to the British Pound Sterling, Euro, Australian Dollar and Swedish Krona. source

Impact estimates