Earnings Per Share for Verizon

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VZ » Topics » Earnings Per Share

This excerpt taken from the VZ 8-K filed Nov 2, 2009.

Earnings Per Share

The following table is a reconciliation of the numerators and denominators used in computing earnings per common share:


	(dollars and shares in millions, except per share amounts)
Years Ended December 31,	2008		2007		2006
Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change attributable to Verizon	$	6,428	$	5,510	$	5,480
After-tax noncontrolling interest expense related to exchangeable equity interest		—		—		20
After-tax interest expense related to zero-coupon convertible notes		—		—		11

Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change attributable to Verizon – after assumed conversion of dilutive securities	$	6,428	$	5,510	$	5,511


Weighted-average shares outstanding – basic		2,849		2,898		2,912
Effect of dilutive securities:
Stock options		1		4		1
Exchangeable equity interest		—		—		18
Zero-coupon convertible notes		—		—		7

Weighted-average shares outstanding – diluted		2,850		2,902		2,938


Earnings Per Common Share from Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change attributable to Verizon
Basic	$	2.26	$	1.90	$	1.88
Diluted	$	2.26	$	1.90	$	1.88

Certain outstanding options to purchase shares were not included in the computation of diluted earnings per common share because they were not dilutive, including approximately 158 million weighted-average shares during 2008, 170 million weighted-average shares during 2007 and 228 million weighted-average shares during 2006.

The zero-coupon convertible notes were retired on May 15, 2006 and the exchangeable equity interest was converted on August 15, 2006 by issuing 29.5 million Verizon shares (see Note 8).

These excerpts taken from the VZ 10-K filed Feb 24, 2009.

Earnings Per Share

The following table is a reconciliation of the numerators and denominators used in computing earnings per common share:


		(dollars and shares in millions, except per share amounts)


Years Ended December 31,	2008		2007		2006
Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change	$	6,428	$	5,510	$	5,480
After-tax minority interest expense related to exchangeable equity interest		–		–		20
After-tax interest expense related to zero-coupon convertible notes		–		–		11

Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change – after assumed conversion of dilutive securities	$	6,428	$	5,510	$	5,511


Weighted-average shares outstanding – basic		2,849		2,898		2,912
Effect of dilutive securities:
Stock options		1		4		1
Exchangeable equity interest		–		–		18
Zero-coupon convertible notes		–		–		7

Weighted-average shares outstanding – diluted		2,850		2,902		2,938


Earnings Per Common Share from Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change
Basic	$	2.26	$	1.90	$	1.88
Diluted	$	2.26	$	1.90	$	1.88

The zero-coupon convertible notes were retired on May 15, 2006 and the exchangeable equity interest was converted on August 15, 2006 by issuing 29.5 million Verizon shares (see Note 8).

Earnings Per Share

SIZE="2">The following table is a reconciliation of the numerators and denominators used in computing earnings per common share:


		(dollars and shares in millions, except per share amounts)


Years Ended December 31,	2008		2007		2006
Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change	$	6,428	$	5,510	$	5,480
After-tax minority interest expense related to exchangeable equity interest		–		–		20
After-tax interest expense related to zero-coupon convertible notes		–		–		11

Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change – after assumed conversion of dilutive securities	$	6,428	$	5,510	$	5,511


Weighted-average shares outstanding – basic		2,849		2,898		2,912
Effect of dilutive securities:
Stock options		1		4		1
Exchangeable equity interest		–		–		18
Zero-coupon convertible notes		–		–		7

Weighted-average shares outstanding – diluted		2,850		2,902		2,938


Earnings Per Common Share from Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change
Basic	$	2.26	$	1.90	$	1.88
Diluted	$	2.26	$	1.90	$	1.88

Certain outstanding options to purchase shares were not included in the computation of diluted
earnings per common share because they were not dilutive, including approximately 158 million weighted-average shares during 2008, 170 million weighted-average shares during 2007 and 228 million weighted-average shares during 2006.

The zero-coupon convertible notes were retired on May 15, 2006 and the exchangeable equity interest was converted on August 15,
2006 by issuing 29.5 million Verizon shares (see Note 8).

These excerpts taken from the VZ 10-K filed Feb 28, 2008.

Earnings Per Share

The following table is a reconciliation of the numerators and denominators used in computing earnings per common share:


	(dollars and shares in millions, except per share amounts)
Years Ended December 31,	2007		2006		2005
Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change	$	5,510	$	5,480	$	6,027
After-tax minority interest expense related to exchangeable equity interest		-		20		32
After-tax interest expense related to zero-coupon convertible notes		-		11		28
Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change – after assumed conversion of dilutive securities	$	5,510	$	5,511	$	6,087

Weighted-average shares outstanding – basic		2,898		2,912		2,766
Effect of dilutive securities:
Stock options		4		1		5
Exchangeable equity interest		-		18		29
Zero-coupon convertible notes		-		7		17
Weighted-average shares outstanding – diluted		2,902		2,938		2,817

Earnings Per Common Share from Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change
Basic	$	1.90	$	1.88	$	2.18
Diluted	$	1.90	$	1.88	$	2.16

Certain outstanding options to purchase shares were not included in the computation of diluted earnings per common share because they were not dilutive, including approximately 170 million weighted-average shares during 2007, 228 million weighted-average shares during 2006 and 250 million shares during 2005.

The zero-coupon convertible notes were retired on May 15, 2006 and the exchangeable equity interest was converted on August 15, 2006 by issuing 29.5 million Verizon shares (see Notes 7 and 11).

Earnings Per Share

The following table is a reconciliation of the
numerators and denominators used in computing earnings per common share:


	(dollars and shares in millions, except per share amounts)
Years Ended December 31,	2007		2006		2005
Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change	$	5,510	$	5,480	$	6,027
After-tax minority interest expense related to exchangeable equity interest		-		20		32
After-tax interest expense related to zero-coupon convertible notes		-		11		28
Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change – after assumed conversion of dilutive securities	$	5,510	$	5,511	$	6,087

Weighted-average shares outstanding – basic		2,898		2,912		2,766
Effect of dilutive securities:
Stock options		4		1		5
Exchangeable equity interest		-		18		29
Zero-coupon convertible notes		-		7		17
Weighted-average shares outstanding – diluted		2,902		2,938		2,817

Earnings Per Common Share from Income Before Discontinued Operations, Extraordinary Item and Cumulative Effect of Accounting Change
Basic	$	1.90	$	1.88	$	2.18
Diluted	$	1.90	$	1.88	$	2.16

Certain outstanding
options to purchase shares were not included in the computation of diluted earnings per common share because they were not dilutive, including approximately 170 million weighted-average shares during 2007, 228 million weighted-average
shares during 2006 and 250 million shares during 2005.

SIZE="2">The zero-coupon convertible notes were retired on May 15, 2006 and the exchangeable equity interest was converted on August 15, 2006 by issuing 29.5 million Verizon shares (see Notes 7 and 11).

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EXCERPTS ON THIS PAGE:

8-K	Nov 2, 2009

10-K (2 sections)	Feb 24, 2009

10-K (2 sections)	Feb 28, 2008

Verizon Communications (VZ)

VZ » Topics » Earnings Per Share

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