Verizon Wireless 2007 Annual Report Download - page 45

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Consolidated Statements of Changes in Shareowners’ Investment
43
(dollars in millions, except per share amounts, and shares in thousands)
Years Ended December 31, 2007 2006 2005
Shares Amount Shares Amount Shares Amount
Common Stock
Balance at beginning of year 2,967,652 $ 297 2,774,865 $ 277 2,774,865 $ 277
Shares issued-MCI/Price acquisitions (42) – 192,787 20 – –
Balance at end of year 2,967,610 297 2,967,652 297 2,774,865 277
Contributed Capital
Balance at beginning of year 40,124 25,369 25,404
Shares issued-employee and shareowner plans 58 (1) (24)
Shares issued-MCI/Price acquisitions –6,010 –
Domestic print and Internet yellow pages directories
business spin-o –8,695 –
Other 134 51 (11)
Balance at end of year 40,316 40,124 25,369
Reinvested Earnings
Balance at beginning of year 17,324 15,905 12,984
Adoption of tax accounting standards (See Note 1) (134) – –
Adjusted balance at beginning of year 17,190 15,905 12,984
Net income 5,521 6,197 7,397
Dividends declared ($1.67, $1.62 and $1.62 per share) (4,830) (4,781) (4,479)
Other 33 3
Balance at end of year 17,884 17,324 15,905
Accumulated Other Comprehensive Loss
Balance at beginning of year (7,530) (1,783) (1,053)
Foreign currency translation adjustments 838 1,196 (755)
Unrealized gains on net investment hedges –– 2
Unrealized gains (losses) on marketable securities (4) 54 (21)
Unrealized gains on cash ow hedges 114 10
Dened benet pension and postretirement plans 1,948 – –
Minimum pension liability adjustment –526 51
Other 241 (128) (17)
Other comprehensive income (loss) 3,024 1,662 (730)
Adoption of pension and postretirement benet
accounting standard (See Note 15) –(7,409) –
Balance at end of year (4,506) (7,530) (1,783)
Treasury Stock
Balance at beginning of year (56,147) (1,871) (11,456) (353) (5,213) (142)
Shares purchased (68,063) (2,843) (50,066) (1,700) (7,859) (271)
Shares distributed
Employee plans 33,411 1,224 5,355 181 1,594 59
Shareowner plans 13 1 20 1 22 1
Balance at end of year (90,786) (3,489) (56,147) (1,871) (11,456) (353)
Deferred Compensation–ESOPs and Other
Balance at beginning of year 191 265 90
Amortization (112) (74) 174
Other –– 1
Balance at end of year 79 191 265
Total Shareowners’ Investment $ 50,581 $ 48,535 $ 39,680
Comprehensive Income
Net income $ 5,521 $ 6,197 $ 7,397
Other comprehensive income (loss) per above 3,024 1,662 (730)
Total Comprehensive Income $ 8,545 $ 7,859 $ 6,667
See Notes to Consolidated Financial Statements.
VERIZON COMMUNICATIONS INC. AND SUBSIDIARIES