Consolidated Statements of Income – As Adjusted
(dollars in millions, except per share amounts) |
|||||||||
Years Ended December 31, |
|
2010 |
|
|
2009 |
|
|
2008 |
|
|---|---|---|---|---|---|---|---|---|---|
Operating Revenues |
$ |
106,565 |
|
$ |
107,808 |
|
$ |
97,354 |
|
|
|||||||||
Operating Expenses |
|||||||||
Cost of services and sales (exclusive of items shown below) |
|
44,149 |
|
|
44,579 |
|
|
38,615 |
|
Selling, general and administrative expense |
|
31,366 |
|
|
30,717 |
|
|
41,517 |
|
Depreciation and amortization expense |
|
16,405 |
|
|
16,534 |
|
|
14,610 |
|
Total Operating Expenses |
|
91,920 |
|
|
91,830 |
|
|
94,742 |
|
|
|||||||||
Operating Income |
|
14,645 |
|
|
15,978 |
|
|
2,612 |
|
Equity in earnings of unconsolidated businesses |
|
508 |
|
|
553 |
|
|
567 |
|
Other income and (expense), net |
|
54 |
|
|
91 |
|
|
283 |
|
Interest expense |
|
(2,523 |
) |
|
(3,102 |
) |
|
(1,819 |
) |
Income Before (Provision) Benefit for Income Taxes |
|
12,684 |
|
|
13,520 |
|
|
1,643 |
|
(Provision) benefit for income taxes |
|
(2,467 |
) |
|
(1,919 |
) |
|
2,319 |
|
Net Income |
$ |
10,217 |
|
$ |
11,601 |
|
$ |
3,962 |
|
|
|||||||||
Net income attributable to noncontrolling interest |
$ |
7,668 |
|
$ |
6,707 |
|
$ |
6,155 |
|
Net income (loss) attributable to Verizon |
|
2,549 |
|
|
4,894 |
|
|
(2,193 |
) |
Net Income |
$ |
10,217 |
|
$ |
11,601 |
|
$ |
3,962 |
|
|
|||||||||
Basic Earnings (Loss) Per Common Share |
|||||||||
Net income (loss) attributable to Verizon |
$ |
.90 |
|
$ |
1.72 |
|
$ |
(.77 |
) |
Weighted-average shares outstanding (in millions) |
|
2,830 |
|
|
2,841 |
|
|
2,849 |
|
|
|||||||||
Diluted Earnings (Loss) Per Common Share |
|||||||||
Net income (loss) attributable to Verizon |
$ |
.90 |
|
$ |
1.72 |
|
$ |
(.77 |
) |
Weighted-average shares outstanding (in millions) |
|
2,833 |
|
|
2,841 |
|
|
2,849 |
|
See Notes to Consolidated Financial Statements