Verizon Wireless 2007 Annual Report Download - page 73

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Notes to Consolidated Financial Statements continued
71
NOTE 21
QUARTERLY FINANCIAL INFORMATION UNAUDITED
(dollars in millions, except per share amounts)
Income Before Discontinued Operations, Extraordinary Item
and Cumulative Eect of Accounting Change
Quarter Ended
Operating
Revenues
Operating
Income Amount
Per Share-
Basic
Per Share-
Diluted Net Income
2007
March 31 $ 22,584 $ 3,796 $ 1,484 $ .51 $ .51 $ 1,495
June 30 23,273 4,149 1,683 .58 .58 1,683
September 30 23,772 4,210 1,271 .44 .44 1,271
December 31 23,840 3,423 1,072 .37 .37 1,072
2006
March 31 $ 21,231 $ 3,175 $ 1,282 $ .44 $ .44 $ 1,632
June 30 21,886 3,217 1,263 .43 .43 1,611
September 30 22,459 3,537 1,545 .53 .53 1,922
December 31 22,606 3,444 1,390 .48 .48 1,032
• Resultsofoperationsforthefirstquarterof2007includeafter-taxchargesof$9millionformergerintegrationcosts,$131millionforanextraordinarychargerelatedtothenationalizationof
CANTV, a $70 million after-tax gain on the sale of our interest in TELPRI and a $65 million after-tax contribution to the Verizon Foundation.
• Resultsofoperationsforthesecondquarterof2007includeafter-taxchargesof$17millionformergerintegrationcosts.
• Resultsofoperationsforthethirdquarterof2007includeafter-taxchargesof$28millionformergerintegrationcosts,$44millionrelatedtoaccesslinespin-offchargesand$471millionasso-
ciated with taxes on foreign distributions.
• Resultsofoperationsforthefourthquarterof2007includeafter-taxchargesof$58millionformergerintegrationcosts,$36millionrelatedtoaccesslinespin-offcharges,$139millionassoci-
ated with taxes on foreign distributions, and $477 million for severance, pension and other charges.
• 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associated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 for 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.
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.