VZ » Topics » Fair Value of Short-term and Long-term Debt

This excerpt taken from the VZ 10-K filed Feb 26, 2010.

Fair Value of Short-term and Long-term Debt

The fair value of our short-term and long-term debt, excluding capital leases, is determined based on market quotes for similar terms and maturities or future cash flows discounted at current rates. The fair value and carrying value of our long-term and short-term debt, excluding capital leases, were as follows:

 

               (dollars in millions)
At December 31,          2009          2008
     Carrying
Amount
   Fair Value    Carrying
Amount
   Fair Value

Short- and long-term debt

   $   61,859    $   67,359    $   51,562    $   53,174
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