Selected Financial Data – As Adjusted*
(dollars in millions, except per share amounts) |
||||||||||||||
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Results of Operations |
||||||||||||||
Operating revenues |
$ |
106,565 |
|
$ |
107,808 |
|
$ |
97,354 |
|
$ |
93,469 |
|
$ |
88,182 |
Operating income |
|
14,645 |
|
|
15,978 |
|
|
2,612 |
|
|
17,816 |
|
|
17,137 |
Income (loss) before discontinued |
||||||||||||||
operations, extraordinary item |
||||||||||||||
and cumulative effect of accounting |
||||||||||||||
change attributable to Verizon |
|
2,549 |
|
|
4,894 |
|
|
(2,193 |
) |
|
7,201 |
|
|
7,763 |
Per common share – basic |
|
.90 |
|
|
1.72 |
|
|
(.77 |
) |
|
2.48 |
|
|
2.67 |
Per common share – diluted |
|
.90 |
|
|
1.72 |
|
|
(.77 |
) |
|
2.48 |
|
|
2.64 |
Net income (loss) attributable to Verizon |
|
2,549 |
|
|
4,894 |
|
|
(2,193 |
) |
|
7,212 |
|
|
8,480 |
Per common share – basic |
|
.90 |
|
|
1.72 |
|
|
(.77 |
) |
|
2.49 |
|
|
2.91 |
Per common share – diluted |
|
.90 |
|
|
1.72 |
|
|
(.77 |
) |
|
2.49 |
|
|
2.89 |
Cash dividends declared per common share |
|
1.925 |
|
|
1.870 |
|
|
1.780 |
|
|
1.670 |
|
|
1.620 |
Net income attributable to noncontrolling interest |
|
7,668 |
|
|
6,707 |
|
|
6,155 |
|
|
5,053 |
|
|
4,038 |
|
||||||||||||||
Financial Position |
||||||||||||||
Total assets |
$ |
220,005 |
|
$ |
226,907 |
|
$ |
202,185 |
|
$ |
186,942 |
|
$ |
189,072 |
Debt maturing within one year |
|
7,542 |
|
|
7,205 |
|
|
4,993 |
|
|
2,954 |
|
|
7,715 |
Long-term debt |
|
45,252 |
|
|
55,051 |
|
|
46,959 |
|
|
28,203 |
|
|
28,646 |
Employee benefit obligations |
|
28,164 |
|
|
32,622 |
|
|
32,512 |
|
|
29,960 |
|
|
30,779 |
Noncontrolling interest |
|
48,343 |
|
|
42,761 |
|
|
37,199 |
|
|
32,266 |
|
|
28,310 |
Equity attributable to Verizon |
|
38,569 |
|
|
41,382 |
|
|
41,592 |
|
|
50,580 |
|
|
48,830 |
* During 2010, we retrospectively changed our method of accounting for benefit plans as described in Note 1 to the consolidated financial statements. As a result, all prior periods have been adjusted.
Stock Performance Graph
Comparison of Five-Year Total Return Among Verizon, S&P 500 Telecommunications Services Index and S&P 500 Stock Index
Data Points in Dollars |
At December 31, |
|||||
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
|
Verizon |
100.0 |
134.6 |
164.3 |
134.6 |
139.8 |
172.1 |
S&P Telecom Services |
100.0 |
136.7 |
152.9 |
106.3 |
115.8 |
137.8 |
S&P 500 |
100.0 |
115.8 |
122.1 |
77.0 |
97.3 |
112.0 |
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 business and related landline activities in predominantly rural areas in 14 states, completed in 2010, and in Maine, New Hampshire and Vermont, completed in 2008, and our domestic yellow pages directories business, completed in 2006. It assumes $100 was invested on December 31, 2005, with dividends reinvested.