Notes to Consolidated Financial Statements
NOTE 19
ADDITIONAL FINANCIAL INFORMATION
The tables that follow provide additional financial information related to our consolidated financial statements:
Income Statement Information
(dollars in millions) |
|||||||||
Years Ended December 31, |
2008 |
|
2007 |
|
2006 |
|
|||
|---|---|---|---|---|---|---|---|---|---|
Depreciation expense |
$ |
13,182 |
|
$ |
13,036 |
|
$ |
13,122 |
|
Interest cost incurred |
|
2,566 |
|
|
2,258 |
|
|
2,811 |
|
Capitalized interest |
|
(747 |
) |
|
(429 |
) |
|
(462 |
) |
Advertising costs |
|
2,754 |
|
|
2,463 |
|
|
2,271 |
|
Balance Sheet Information
(dollars in millions) |
||||||
At December 31, |
2008 |
|
2007 |
|
||
|---|---|---|---|---|---|---|
Accounts Payable and Accrued Liabilities |
||||||
Accounts payable |
$ |
3,856 |
|
$ |
4,491 |
|
Accrued expenses |
|
2,299 |
|
|
2,400 |
|
Accrued vacation, salaries and wages |
|
4,871 |
|
|
4,828 |
|
Interest payable |
|
652 |
|
|
473 |
|
Accrued taxes |
|
2,136 |
|
|
2,270 |
|
|
$ |
13,814 |
|
$ |
14,462 |
|
|
||||||
Other Current Liabilities |
||||||
Advance billings and customer deposits |
$ |
2,651 |
|
$ |
2,476 |
|
Dividends payable |
|
1,584 |
|
|
1,266 |
|
Other |
|
2,864 |
|
|
3,583 |
|
|
$ |
7,099 |
|
$ |
7,325 |
|
Cash Flow Information
(dollars in millions) |
|||||||||
Years Ended December 31, |
2008 |
|
2007 |
|
2006 |
|
|||
|---|---|---|---|---|---|---|---|---|---|
Cash Paid |
|||||||||
Income taxes, net of amounts refunded |
$ |
1,206 |
|
$ |
2,491 |
|
$ |
3,299 |
|
Interest, net of amounts capitalized |
|
1,664 |
|
|
1,682 |
|
|
2,103 |
|
|
|||||||||
Supplemental Investing and Financing Transactions |
|||||||||
Cash acquired in business combinations |
|
397 |
|
|
17 |
|
|
2,361 |
|
Assets acquired in business combinations |
|
2,803 |
|
|
589 |
|
|
18,511 |
|
Liabilities assumed in business combinations |
|
384 |
|
|
154 |
|
|
7,813 |
|
Debt assumed in business combinations |
|
1,505 |
|
|
— |
|
|
6,169 |
|
Shares issued to Price to acquire limited partnership interest in VZ East (Note 8) |
|
— |
|
|
— |
|
|
1,007 |
|
Other, net cash provided by operating activities – continuing operations primarily included the add back of the minority interest's share of Verizon Wireless earnings, net of dividends paid to minority partners, of $5,218 million in 2008, $3,953 million in 2007 and $3,232 million in 2006.