Verizon Wireless 2008 Annual Report Download - page 43

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Consolidated Statements of Changes in Shareowners’ Investment
41
(dollars in millions, except per share amounts, and shares in thousands)
Years Ended December 31, 2008 2007 2006
Shares Amount Shares Amount Shares Amount
Common Stock
Balance at beginning of year 2,967,610 $ 297 2,967,652 $ 297 2,774,865 $ 277
Shares issued–MCI/Price acquisitions – – (42) – 192,787 20
Balance at end of year 2,967,610 297 2,967,610 297 2,967,652 297
Contributed Capital
Balance at beginning of year 40,316 40,124 25,369
Shares issued-employee and shareowner plans –58 (1)
Shares issued-MCI/Price acquisitions –– 6,010
Domestic print and Internet yellow pages directories
business spin-o –– 8,695
Other (25) 134 51
Balance at end of year 40,291 40,316 40,124
Reinvested Earnings
Balance at beginning of year 17,884 17,324 15,905
Adoption of tax accounting standards (See Note 1) – (134) –
Adjusted balance at beginning of year 17,884 17,190 15,905
Net income 6,428 5,521 6,197
Dividends declared ($1.78, $1.67 and $1.62 per share) (5,062) (4,830) (4,781)
Other –3 3
Balance at end of year 19,250 17,884 17,324
Accumulated Other Comprehensive Loss
Balance at beginning of year (4,506) (7,530) (1,783)
Spin-o of local exchange businesses in Maine,
New Hampshire and Vermont (see Note 3) 44 – –
Adjusted balance at beginning of year (4,462) (7,530) (1,783)
Foreign currency translation adjustments (231) 838 1,196
Unrealized gains (losses) on marketable securities (97) (4) 54
Unrealized gains (losses) on cash ow hedges (40) 1 14
Dened benet pension and postretirement plans (8,542) 1,948 –
Minimum pension liability adjustment –– 526
Other –241 (128)
Other comprehensive income (loss) (8,910) 3,024 1,662
Adoption of pension and postretirement benet
accounting standard (See Note 1) –– (7,409)
Balance at end of year (13,372) (4,506) (7,530)
Treasury Stock
Balance at beginning of year (90,786) (3,489) (56,147) (1,871) (11,456) (353)
Shares purchased (36,779) (1,368) (68,063) (2,843) (50,066) (1,700)
Shares distributed
Employee plans 468 18 33,411 1,224 5,355 181
Shareowner plans 7 – 13 1 20 1
Balance at end of year (127,090) (4,839) (90,786) (3,489) (56,147) (1,871)
Deferred Compensation–ESOPs and Other
Balance at beginning of year 79 191 265
Amortization –(112) (74)
Other –– –
Balance at end of year 79 79 191
Total Shareowners’ Investment $ 41,706 $ 50,581 $ 48,535
Comprehensive Income
Net income $ 6,428 $ 5,521 $ 6,197
Other comprehensive income (loss) per above (8,910) 3,024 1,662
Total Comprehensive Income (Loss) $ (2,482) $ 8,545 $ 7,859
See Notes to Consolidated Financial Statements.
VERIZON COMMUNICATIONS INC. AND SUBSIDIARIES