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VZ » Topics » Summarized Financial Information

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

Summarized Financial Information

Summarized financial information for our equity investees is as follows:

 

Balance Sheet      
     (dollars in millions)
At December 31,    2009    2008

Current assets

    $   3,588    $   3,247

Noncurrent assets

      8,179      8,315
      

Total assets

    $ 11,767    $ 11,562
      

Current liabilities

    $ 6,804    $ 5,847

Noncurrent liabilities

      49      54

Equity

      4,914      5,661
      

Total liabilities and equity

    $ 11,767    $ 11,562
      
Income Statement      

 

     (dollars in millions)
Years Ended December 31,    2009    2008    2007

Net revenue

    $   12,903    $   13,077    $   11,317

Operating income

      4,313      3,820      4,643

Net income

      2,717      2,634      2,511

Note 7

Noncontrolling Interest

 

Noncontrolling interests in equity of subsidiaries were as follows:

 

     (dollars in millions)
At December 31,    2009    2008

Noncontrolling interests in consolidated subsidiaries:

      

Wireless joint venture

    $ 41,950    $ 36,683

Cellular partnerships and other

      811      516
      
   $ 42,761    $ 37,199
      

Wireless Joint Venture

Our Domestic Wireless segment, Cellco Partnership doing business as Verizon Wireless (Verizon Wireless) is a joint venture formed in April 2000 by the combination of the U.S. wireless operations and interests of Verizon and Vodafone. Verizon owns a controlling 55% interest in Verizon Wireless and Vodafone owns the remaining 45%.

 

Note 8

Leasing Arrangements

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