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VZ » Topics » Prepaid Forward Contracts

This excerpt taken from the VZ 10-Q filed May 11, 2009.

Prepaid Forward Contracts

During the first quarter of 2009, we entered into privately negotiated prepaid forward agreements for approximately $390 million, which are included in Other assets. As these agreements are not designated as hedges, changes in the fair value of the agreements, which were not significant during the first quarter of 2009, were included in Selling, general and administrative expense and Cost of services and sales.

 

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