Verizon Wireless 2006 Annual Report Download - page 75

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Notes to Consolidated Financial Statements continued
73
NOTE 19
ADDITIONAL FINANCIAL INFORMATION
The tables that follow provide additional financial information
related to our consolidated financial statements:
The components of Accumulated Other Comprehensive Loss are
as follows:
(dollars in millions)
At December 31, 2006 2005
Foreign currency translation adjustments $329 $(867)
Unrealized gains on net investment hedges 22
Unrealized derivative losses
on cash flow hedges (13) (27)
Unrealized gains on marketable securities 64 10
Minimum pension liability –(788)
Defined benefit pension and
postretirement plans – SFAS 158 adoption (7,671) –
Other (241) (113)
Accumulated other comprehensive loss $(7,530) $(1,783)
As discussed above, the change in foreign currency translation
adjustments during 2006 is due primarily to the sale of Verizon
Dominicana (approximately $800 million). Foreign currency translation
adjustments at year-end 2006 is primarily comprised of unrealized
gains in the functional currencies at Vodafone Omnitel, partially offset
by unrealized losses of approximately $400 million at CANTV. The
reduction in our minimum pension liability adjustment balance to zero
at year-end 2006 is due to the adoption of SFAS No. 158.
Income Statement Information
(dollars in millions)
Years Ended December 31, 2006 2005 2004
Depreciation expense $13,122 $12,171 $ 12,169
Interest cost incurred 2,811 2,481 2,513
Capitalized interest (462) (352) (177)
Advertising expense 2,271 1,844 1,617
Balance Sheet Information
(dollars in millions)
At December 31, 2006 2005
Accounts Payable and Accrued Liabilities
Accounts payable $4,392 $2,620
Accrued expenses 2,982 2,891
Accrued vacation, salaries and wages 3,575 3,179
Interest payable 614 573
Accrued taxes 2,757 2,484
$14,320 $11,747
Other Current Liabilities
Advance billings and customer deposits $2,226 $1,964
Dividends payable 1,199 1,137
Other 4,666 2,294
$8,091 $5,395
Cash Flow Information
(dollars in millions)
Years Ended December 31, 2006 2005 2004
Cash Paid
Income taxes, net of amounts refunded $3,299 $4,189 $ 152
Interest, net of amounts capitalized 2,103 2,025 2,226
Supplemental Investing and
Financing Transactions
Cash acquired in business
combination 2,361 ––
Assets acquired in business
combinations 18,511 635 8
Liabilities assumed in business
combinations 7,813 35 –
Debt assumed in business
combinations 6,169 9–
Shares issued to Price to acquire
limited partnership interest in
VZ East (Note 2) 1,007 ––