Verizon Communications (VZ)

Details of Earnings Adjustments

Adjusted earnings in the third quarter 2009 excluded 19 cents per share in special items: 13 cents for severance, pension and benefit charges in connection with pension settlements related to previously announced force reductions; 4 cents for merger integration and acquisition costs primarily in connection with the Alltel transaction; and 2 cents for costs related to the pending spinoff of non-strategic Wireline access lines. Third-quarter 2008 adjusted earnings excluded 7 cents per share in special items: 6 cents for severance, pension and benefit charges; and 1 cent for merger integration costs in connection with Verizon’s acquisition of MCI in 2006.

Details of Earnings Adjustments

Adjusted earnings in the second quarter 2009 excluded 11 cents per share in special items: 9 cents in severance, pension and benefit charges in connection with pension settlements related to previously announced force reductions, and 2 cents for merger integration costs and acquisition-related charges primarily in connection with the Alltel acquisition. Second-quarter

Verizon News Release, page 6

2008 adjusted earnings excluded 1 cent in merger integration costs in connection with the acquisition of MCI in 2006.

Details of Earnings Adjustments

Adjusted earnings in the first quarter 2009 excluded 5 cents per share in special items: 3 cents for acquisition-related charges and 2 cents for merger integration costs, both primarily in connection with the Alltel acquisition. First-quarter 2008 adjusted earnings excluded 4 cents per share in special items: 3 cents for costs related to the spinoff of wireline access lines and 1 cent in merger integration costs in connection with the acquisition of MCI in 2006.

Verizon News Release, page 6