Selected Financial Data

(dollars in millions, except per share amounts)

 

2009

 

2008

 

2007

 

2006

 

2005

Results of Operations

Operating revenues

$

107,808

 

$

97,354

 

$

93,469

 

$

88,182

 

$

69,518

Operating income

 

14,027

 

 

16,884

 

 

15,578

 

 

13,373

 

 

12,581

Income before discontinued

operations, extraordinary item

and cumulative effect of accounting

change attributable to Verizon

 

3,651

 

 

6,428

 

 

5,510

 

 

5,480

 

 

6,027

Per common share – basic

 

1.29

 

 

2.26

 

 

1.90

 

 

1.88

 

 

2.18

Per common share – diluted

 

1.29

 

 

2.26

 

 

1.90

 

 

1.88

 

 

2.16

Net income attributable to Verizon

  

3,651

 

 

6,428

 

 

5,521

 

 

6,197

 

 

7,397

Per common share – basic

  

1.29

 

 

2.26

 

 

1.91

 

 

2.13

 

 

2.67

Per common share – diluted

  

1.29

 

 

2.26

 

 

1.90

 

 

2.12

 

 

2.65

Cash dividends declared per common share

  

1.87

 

 

1.78

 

 

1.67

 

 

1.62

 

 

1.62

Net income attributable to

noncontrolling interest

  

6,707

 

 

6,155

 

 

5,053

 

 

4,038

 

 

3,001
 

Financial Position

Total assets

$

227,251

  

$

202,352

  

$

186,959

  

$

188,804

  

$

168,130

Debt maturing within one year

  

7,205

 

 

4,993

 

 

2,954

 

 

7,715

 

 

6,688

Long-term debt

  

55,051

 

 

46,959

 

 

28,203

 

 

28,646

 

 

31,569

Employee benefit obligations

  

32,622

 

 

32,512

 

 

29,960

 

 

30,779

 

 

17,693

Noncontrolling interest

  

42,761

 

 

37,199

 

 

32,266

 

 

28,310

 

 

26,411

Equity attributable to Verizon

  

41,606

 

 

41,706

 

 

50,603

 

 

48,562

 

 

39,702
  • Significant events affecting our historical earnings trends in 2007 through 2009 are described in Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • 2006 data includes sales of business, severance, pension and benefit charges, merger integration costs, as well as relocation charges and other items.
  • 2005 data includes sales of business, severance, pension and benefit charges, lease impairment and other items.

Stock Performance Graph

Comparison of Five-Year Total Return Among Verizon, S&P 500 Telecommunications Services Index and S&P 500 Stock Index


Stock Performance Chart

 

Data Points in Dollars

At December 31,

2004

2005

2006

2007

2008

2009

Verizon

100.0

77.9

104.8

128.0

104.9

108.9

S&P Telecom Services

100.0

94.7

129.3

144.7

100.6

109.6

S&P 500

100.0

104.9

121.5

128.1

80.7

102.1

The graph compares the cumulative total returns of Verizon, the S&P 500 Telecommunications Services Index, and the S&P 500 Stock Index over a five-year period, adjusted for the spin-off of our local exchange and related business assets in Maine, New Hampshire and Vermont and our domestic yellow pages directories business. It assumes $100 was invested on December 31, 2004, with dividends reinvested.