Regarding 2010, Verizon announced the following consolidated expectations:
Capital spending targeted in the range of $16.8 billion to $17.2 billion.
Incremental pressure of approximately 4 cents to 6 cents on EPS due to non-cash pension and retiree benefit costs.
An annual effective tax rate attributable to Verizon in the range of 33 percent to 35 percent.
A year-end net debt-to-EBITDA ratio (non-GAAP, total debt less cash and cash equivalents, divided by EBITDA on a comparable basis to 2009) of 1.4 to