Verizon Wireless 2006 Annual Report Download - page 80

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78
Notes to Consolidated Financial Statements continued
NOTE 22
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
(dollars in millions, except per share amounts)
Income Before Discontinued Operations
Operating Operating Per Share- Per Share-
Quarter Ended Revenues Income Amount Basic Diluted Net Income
2006
March 31 $ 21,221 $ 3,175 $ 1,282 $ .44 $ .44 $ 1,632
June 30 21,876 3,217 1,263 .43 .43 1,611
September 30 22,449 3,537 1,545 .53 .53 1,922
December 31 22,598 3,444 1,390 .48 .48 1,032
2005
March 31 $ 16,785 $ 2,828 $ 1,407 $ .51 $ .50 $ 1,757
June 30 17,177 3,561 1,804 .65 .65 2,113
September 30 17,629 3,040 1,506 .54 .54 1,869
December 31 17,927 3,152 1,310 .47 .47 1,658
•Results of operations for the first quarter of 2006 include after-tax charges of $16 million for the early extinguishment of debt related to the MCI merger, $28 million for costs associ-
ated with the relocation to Verizon Center, $42 million for the impact of accounting for share based payments, and $35 million for merger integration costs.
•Results of operations for the second quarter of 2006 include after-tax charges of $48 million for merger integration costs, $29 million for costs associated with the relocation to
Verizon Center and $186 million for severance, pension and benefits charges.
•Results of operations for the third quarter of 2006 include after-tax charges of $16 million for merger integration costs, $31 million for costs associated with the relocation to Verizon
Center and $17 million for severance, pension and benefits charges.
•Results of operations for the fourth quarter of 2006 include after-tax charges of $47 million for merger integration costs, $30 million for costs associated with the relocation to Verizon
Center, $55 million severance, pension and benefits charges, $541 million for the loss on sale of Verizon Dominicana included in discontinued operations, and $101 million for costs
associated with the spin-off of our directories publishing business.
•Results of operations for the second quarter of 2005 include a $336 million net after-tax gain on the sale of our wireline and directory businesses in Hawaii, tax benefits of $242 mil-
lion associated with prior investment losses and a net tax provision of $206 million related to the repatriation of foreign earnings under the provisions of the American Jobs Creation
Act of 2004.
•Results of operations for the third quarter of 2005 include an impairment charge of $125 million pertaining to our leasing operations for aircraft leased to airlines experiencing
financial difficulties.
Income before discontinued operations per common share is computed independently for each quarter and the sum of the quarters may not equal the annual amount.