America Online 2015 Annual Report Download - page 75

Reconciliation to Consolidated Financial Information
A reconciliation of the reportable segment operating revenues to con-
solidated operating revenues is as follows:
(dollars in millions)
Years Ended December31, 2015 2014 2013
Operating Revenues
Total reportable segments $ 129,400 $ 126,075 $ 119,647
Corporate and other 3,444 1,888 1,514
Reconciling items:
Impact of divested operations (Note2) – 256 599
Eliminations (1,224) (1,140) (1,210)
Consolidated operating revenues $ 131,620 $ 127,079 $ 120,550
Fios revenues are included within our Wireline segment and amounted
to approximately $13.8billion, $12.7billion, and $11.2billion for the years
ended December31, 2015, 2014, and 2013, respectively.
A reconciliation of the total of the reportable segments’ operating
income to consolidated Income before provision for income taxes is
as follows:
(dollars in millions)
Years Ended December31, 2015 2014 2013
Operating Income
Total reportable segments $ 32,148 $ 27,795 $ 26,327
Corporate and other (1,598) (1,074) (912)
Reconciling items:
Severance, pension and benet
credits (charges) (Note11) 2,256 (7,507) 6,232
Gain on spectrum license
transactions (Note2) 254 707 278
Impact of divested operations (Note2) – 12 43
Other costs – (334) –
Consolidated operating income 33,060 19,599 31,968
Equity in (losses) earnings of
unconsolidated businesses (86) 1,780 142
Other income and (expense), net 186 (1,194) (166)
Interest expense (4,920) (4,915) (2,667)
Income Before Provision for Income Taxes $ 28,240 $ 15,270 $ 29,277
A reconciliation of the total of the reportable segments’ assets to con-
solidated assets is as follows:
(dollars in millions)
At December31, 2015 2014
Assets
Total reportable segments $ 263,722 $ 236,973
Corporate and other 205,930 191,686
Eliminations (225,012) (196,043)
Total consolidated $ 244,640 $ 232,616
We generally account for intersegment sales of products and services
and asset transfers at arm’s length prices. No single customer
accounted for more than 10% of our total operating revenues during
the years ended December31, 2015, 2014 and 2013. International
operating revenues and long-lived assets are not significant.
Note14
Comprehensive Income
Comprehensive income consists of net income and other gains and losses affecting equity that, under U.S. GAAP, are excluded from net income.
Significant changes in the components of Other comprehensive income, net of provision for income taxes are described below.
Accumulated Other Comprehensive Income
The changes in the balances of Accumulated other comprehensive income by component are as follows:
(dollars in millions)
Foreign currency
translation
adjustments
Unrealized
loss on cash
ow hedges
Unrealized
loss on
marketable
securities
Dened benet
pension and
postretirement
plans Total
Balance at January1, 2015 $ (346) $ (84) $ 112 $ 1,429 $ 1,111
Other comprehensive loss (208) (1,063) (5) – (1,276)
Amounts reclassied to net income – 869 (6) (148) 715
Net other comprehensive loss (208) (194) (11) (148) (561)
Balance at December31, 2015 $ (554) $ (278) $ 101 $ 1,281 $ 550
The amounts presented above in net other comprehensive loss are net of taxes and noncontrolling interests, which are not significant. For the
year ended December31, 2015, the amounts reclassified to net income related to defined benefit pension and postretirement plans in the table
above are included in Cost of services and Selling, general and administrative expense on our consolidated statement of income. For the year
ended December31, 2015, all other amounts reclassified to net income in the table above are included in Other income and (expense), net on our
consolidated statement of income.
73Verizon Communications Inc. and Subsidiaries
Notes to Consolidated Financial Statements continued