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 "markdown": "Verizon Communications Inc.\n\n\nNon-GAAP Reconciliations - Segments\n\n\n**Segment EBITDA and Segment EBITDA Margin**\n\n\nConsumer\n\n<table>\n<tr><td></td><td></td><td></td><td></td><td colspan=\"2\">(dollars in millions)</td></tr>\n<tr><td></td><td>3 Mos. Ended</td><td>3 Mos. Ended</td><td>3 Mos. Ended</td><td>3 Mos. Ended</td><td>3 Mos.<br>Ended</td></tr>\n<tr><td>Unaudited</td><td>3/31/25</td><td>6/30/25</td><td>9/30/25</td><td>12/31/25</td><td>3/31/26</td></tr>\n<tr><td>Operating Income</td><td>$ 7,424</td><td>$ 7,643</td><td>$ 7,664</td><td>$ 6,897</td><td>$ 7,714</td></tr>\n<tr><td>Add Depreciation and amortization expense</td><td>3,543</td><td>3,582</td><td>3,568</td><td>3,480</td><td>3,730</td></tr>\n<tr><td>Segment EBITDA</td><td>$ 10,967</td><td>$ 11,225</td><td>$ 11,232</td><td>$ 10,377</td><td>$ 11,444</td></tr>\n<tr><td>Total operating revenues</td><td>$ 25,618</td><td>$ 26,648</td><td>$ 26,105</td><td>$ 28,436</td><td>$ 26,453</td></tr>\n<tr><td>Operating Income Margin</td><td>29.0 %</td><td>28.7 %</td><td>29.4 %</td><td>24.3 %</td><td>29.2 %</td></tr>\n<tr><td>Segment EBITDA Margin</td><td>42.8 %</td><td>42.1 %</td><td>43.0 %</td><td>36.5 %</td><td>43.3 %</td></tr>\n<tr><td>Segment EBITDA - Year over year change %</td><td></td><td></td><td></td><td></td><td>4.3 %</td></tr>\n</table>\n\nBusiness\n\n<table>\n<tr><td></td><td></td><td></td><td></td><td colspan=\"2\">(dollars in millions)</td></tr>\n<tr><td></td><td>3 Mos.<br>Ended</td><td>3 Mos.<br>Ended</td><td>3 Mos.<br>Ended</td><td>3 Mos.<br>Ended</td><td>3 Mos.<br>Ended</td></tr>\n<tr><td>Unaudited</td><td>3/31/25</td><td>6/30/25</td><td>9/30/25</td><td>12/31/25</td><td>3/31/26</td></tr>\n<tr><td>Operating Income</td><td>$ 664</td><td>$ 638</td><td>$ 637</td><td>$ 593</td><td>$ 884</td></tr>\n<tr><td>Add Depreciation and amortization expense</td><td>1,020</td><td>1,031</td><td>1,035</td><td>1,026</td><td>1,081</td></tr>\n<tr><td>Segment EBITDA</td><td>$ 1,684</td><td>$ 1,669</td><td>$ 1,672</td><td>$ 1,619</td><td>$ 1,965</td></tr>\n<tr><td>Total operating revenues</td><td>$ 7,286</td><td>$ 7,275</td><td>$ 7,142</td><td>$ 7,366</td><td>$ 7,419</td></tr>\n<tr><td>Operating Income Margin</td><td>9.1 %</td><td>8.8 %</td><td>8.9 %</td><td>8.1 %</td><td>11.9 %</td></tr>\n<tr><td>Segment EBITDA Margin</td><td>23.1 %</td><td>22.9 %</td><td>23.4 %</td><td>22.0 %</td><td>26.5 %</td></tr>\n<tr><td>Segment EBITDA - Year over year change %</td><td></td><td></td><td></td><td></td><td>16.7 %</td></tr>\n</table>\n\n16\n\n<!-- doc_id=parse-01m0ffnkb9qk1akc3s8vf10cd1 -->",
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