Summary by Futu AI
Verizon Communications Inc. has filed its annual 11-K report with the SEC for the fiscal year ended December 31, 2023. The report covers the Verizon Savings and Security Plan for Mid-Atlantic Associates, detailing the financial statements and supplemental schedules. The independent audit, conducted by Mitchell & Titus, LLP, concluded that the financial statements present fairly the net assets available for benefits and the changes in net assets for the year in accordance with U.S. GAAP. The Plan's net assets available for benefits increased from $2,907,057,000 at the end of 2022 to $3,203,310,000 at the end of 2023. The Plan includes various investment options for participants and is subject to risks such as interest rate, market, and credit risks. The Plan is in compliance with the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code, and it is not currently under audit by taxing jurisdictions for years prior to 2020.