Notes to Consolidated Financial Statements

Note 18

Quarterly Financial Information (Unaudited)

					Net Income (Loss) attributable to Verizon⁽¹⁾
(dollars in millions, except per share amounts)
Quarter Ended	Operating Revenues		Operating Income		Amount			Per Share Basic		-	Per Share Diluted		-	Net Income
2010
March 31	$	26,913	$	4,441	$	443		$	.16		$	.16		$	2,318
June 30		26,773		410		(1,192	)		(.42	)		(.42	)		553
September 30		26,484		3,383		659			.23			.23			2,698
December 31		26,395		6,411		2,639			.93			.93			4,648

2009
March 31	$	26,591	$	4,530	$	1,521		$	.54		$	.54		$	3,086
June 30		26,861		4,672		1,658			.58			.58			3,335
September 30		27,265		3,823		1,098			.39			.39			2,809
December 31		27,091		2,953		617			.22			.22			2,371

Results of operations for the first quarter of 2010 include after-tax charges attributable to Verizon of $1.1 billion related to Medicare Part D subsidy, access line spin-off charges, merger integration and acquisition costs, and severance, pension and benefit charges.
Results of operations for the second quarter of 2010 include after-tax charges attributable to Verizon of $2.8 billion related to severance, pension and benefit charges, merger integration and acquisition costs, access line spin-off charges, and a one-time non-cash adjustment to wireless data revenues.
Results of operations for the third quarter of 2010 include after-tax charges attributable to Verizon of $0.9 billion primarily related to severance, pension and benefit charges, access line spin-off charges, and merger integration costs.
Results of operations for the fourth quarter of 2010 include net after-tax gain attributable to Verizon of $1.1 billion related to severance, pension and benefit charges and merger integration and acquisition costs.
Results of operations for the first quarter of 2009 include after-tax charges attributable to Verizon of $0.1 billion related to acquisition related charges, and merger integration costs.
Results of operations for the second quarter of 2009 include after-tax charges attributable to Verizon of $0.1 billion of merger integration costs, acquisition related charges, and severance, pension and benefits charges.
Results of operations for the third quarter of 2009 include after-tax charges attributable to Verizon of $0.5 billion primarily related to, merger integration and acquisition costs, access line spin-off and other charges and severance, pension and benefits charges.
Results of operations for the fourth quarter of 2009 include after-tax charges attributable to Verizon of $0.8 billion for severance, pension and benefits charges, wireline cost reduction initiatives, access line spin-off and other charges and merger integration and acquisition costs.

(1)	Net income (loss) attributable to Verizon per common share is computed independently for each quarter and the sum of the quarters may not equal the annual amount.