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VZ » Topics » Details of Prior EPS Adjustments

This excerpt taken from the VZ 8-K filed Jan 28, 2008.

Details of Prior EPS Adjustments

Special items for full-year 2007 totaled 49 cents per share. This includes the fourth-quarter charges detailed earlier, along with charges for taxes on foreign distributions, charges related to the access line spinoff and merger integration costs, as well as credits and charges associated with the disposition of Compañia Anónima Nacional Teléfonos de Venezuela and the net gain on the sale of Telecomunicaciones de Puerto Rico. As previously announced, Verizon received gross proceeds of approximately $980 million from this sale — $100 million of which was contributed to the Verizon Foundation.

Special items reflected in fourth-quarter 2006 EPS included 27 cents per share related to the sale of Verizon Dominicana; pension settlement charges; and costs related to the spin-off of Verizon’s directories business, merger integration and relocation of employees to the Verizon Center. In the first three quarters of 2006, there were additional settlement charges and costs for integration and relocation, as well as charges for the extinguishment of debt and the cumulative effect of an accounting change. Special items for full-year 2006 totaled 42 cents per share.

Verizon News Release, page 7

 

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