This excerpt taken from the VZ DEF 14A filed Mar 17, 2008.
Corporate Performance Measures
The Committee approved the following 2007 corporate performance measures:
2 The definition of return on equity in the Short-Term Plan excludes special items, such as extraordinary losses, and losses from discontinued operations, business combinations, changes in accounting principles and certain other items.
3 Adjusted earnings per share excludes the following items from income: