Consolidated Statements of Changes in Equity – As Adjusted

(dollars in millions, except per share amounts, and shares in thousands)
Years Ended December 31,			2010					2009					2008
	Shares		Amount			Shares		Amount			Shares		Amount
Common Stock
Balance at beginning of year	2,967,610		$	297		2,967,610		$	297		2,967,610		$	297
Balance at end of year	2,967,610			297		2,967,610			297		2,967,610			297

Contributed Capital
Balance at beginning of year				40,108					40,291					40,316
Access line spin-off				(2,184	)				–					–
Other				(2	)				(183	)				(25	)
Balance at end of year				37,922					40,108					40,291

Reinvested Earnings
Balance at beginning of year				7,260					7,676					17,884
Benefit plan accounting changes (Note 1)				–					–					(2,953	)
Adjusted balance at beginning of year				7,260					7,676					14,931
Net income (loss) attributable to Verizon				2,549					4,894					(2,193	)
Dividends declared
($1.925, $1.87 and $1.78 per share)				(5,441	)				(5,310	)				(5,062	)
Balance at end of year				4,368					7,260					7,676

Accumulated Other Comprehensive Income (Loss)
Balance at beginning of year
attributable to Verizon				(1,372	)				(1,912	)				(4,484	)
Spin-off of local exchange businesses
and related landline activities (Note 3)				23					–					27
Benefit plan accounting changes (Note 1)				–					–					2,930
Adjusted balance at beginning of year				(1,349	)				(1,912	)				(1,527	)
Foreign currency translation adjustments				(171	)				78					(231	)
Unrealized gains (losses)
on marketable securities				29					87					(97	)
Unrealized gains (losses)
on cash flow hedges				89					87					(40	)
Defined benefit pension and
postretirement plans				2,451					288					(17	)
Other comprehensive income (loss)				2,398					540					(385	)
Balance at end of year attributable to Verizon				1,049					(1,372	)				(1,912	)

Treasury Stock
Balance at beginning of year	(131,942	)		(5,000	)	(127,090	)		(4,839	)	(90,786	)		(3,489	)
Shares purchased	–			–		–			–		(36,779	)		(1,368	)
Other (Note 10)	(9,000	)		(280	)	(5,000	)		(166	)	–			–
Shares distributed
Employee plans	347			13		142			5		468			18
Shareowner plans	8			–		6			–		7			–
Balance at end of year	(140,587	)		(5,267	)	(131,942	)		(5,000	)	(127,090	)		(4,839	)

Deferred Compensation– ESOPs and Other
Balance at beginning of year				89					79					79
Restricted stock equity grant				97					–					–
Amortization				14					10					–
Balance at end of year				200					89					79

Noncontrolling Interest
Balance at beginning of year				42,761					37,199					32,266
Net income attributable to
noncontrolling interest				7,668					6,707					6,155
Other comprehensive income (loss)				(35	)				103					(30	)
Total comprehensive income				7,633					6,810					6,125
Distributions and other				(2,051	)				(1,248	)				(1,192	)
Balance at end of year				48,343					42,761					37,199

Total Equity			$	86,912				$	84,143				$	78,791

Comprehensive Income
Net income			$	10,217				$	11,601				$	3,962
Other comprehensive income (loss)				2,363					643					(415	)
Total Comprehensive Income			$	12,580				$	12,244				$	3,547

Comprehensive income attributable
to noncontrolling interest			$	7,633				$	6,810				$	6,125
Comprehensive income (loss)
attributable to Verizon				4,947					5,434					(2,578	)
Total Comprehensive Income			$	12,580				$	12,244				$	3,547

See Notes to Consolidated Financial Statements