Analyzing and Interpreting Footnote on Operating and Capital Leases

Verizon Communications Inc. provides the following footnote relating to adoption of the new lease accounting standards (Topic 842) in its 10-Q report for the quarter ended March 31, 2019.

The cumulative after-tax effect of the changes made to our condensed consolidated balance sheet for the adoption of Topic 842 were as follows:

		Adjustments
($ millions)	At Dec. 31, 2018	due to Topic 842	At Jan. 1, 2019
Prepaid expenses and other	$5,583	$(329)	$5,254
Operating lease right-of-use assets		23,371	23,371
Other assets	11,847	(2,048)	9,799
Accounts payable and accrued liabilities	22,631	(3)	22,628
Other current liabilities	8,369	(2)	8,367
Current operating lease liabilities		3,061	3,061
Deferred income taxes	33,925	269	34,194
Noncurrent operating lease liabilities		19,333	19,333
Other liabilities	14,052	(1,815)	12,237
Retained earnings	43,672	540	44,212
Noncontrolling interests	1,695	1	1,696

Rent expense for operating leases is recognized on a straight-line basis over the term of the lease and is included in either Cost of services - or - Selling, general and administrative expense in our condensed consolidated statements of income, based on the use of the facility on which rent is being paid.

What is the amount of the right-of-use asset the company added to its balance sheet upon adoption of the new standard?

$Answer

million

What is the amount of the total operating lease liabilities the company added to its balance sheet upon adoption of the new standard?

$Answer

million