Proxy Statement
Appendix C
Verizon Communications Inc. Reconciliation of Non-GAAP Measures
Adjusted Net Income Reconciliation
(dollars in millions) |
||||
Year Ended December 31, |
2011 |
|
||
|---|---|---|---|---|
Reported Net Income Attributable to Verizon |
|
$ |
2,404 |
|
Severance, Pension and Benefit Charges |
|
|
3,626 |
|
Early Extinguishment of Debt |
|
|
76 |
|
Adjusted Net Income Attributable to Verizon |
|
$ |
6,106 |
|
Adjusted EPS Reconciliation
Years Ended December 31, |
|
2008 |
|
|
|
2011 |
|
|---|---|---|---|---|---|---|---|
Reported EPS |
$ |
(0.77 |
) |
|
$ |
0.85 |
|
Merger Integration and Acquisition Related Charges |
|
0.03 |
|
|
|
— |
|
Access Line Spin-Off Related Charges |
|
0.03 |
|
|
|
— |
|
Severance, Pension and Benefit Charges |
|
3.32 |
|
|
|
1.27 |
|
Extinguishment of Debt |
|
— |
|
|
|
0.03 |
|
Investment Related Charges |
|
0.01 |
|
|
|
— |
|
Adjusted EPS |
$ |
2.62 |
|
|
$ |
2.15 |
|
Free Cash Flow Reconciliation
(dollars in millions) |
||||
Year Ended December 31, |
2011 |
|
||
|---|---|---|---|---|
Net Cash Provided by Operating Activities |
|
$ |
29,780 |
|
Less Capital expenditures (including capitalized software) |
|
|
16,244 |
|
Free Cash Flow |
|
$ |
13,536 |
|