Verizon Wireless 2010 Annual Report Download - page 2

Download and view the complete annual report

Please find page 2 of the 2010 Verizon Wireless annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

Financial Highlights
(as of December 31, 2010)
$2.62
$2.20$2.20
$2.26
$0.90
$(0.77)
$1.72
$97.4
$107.8 $106.6
$27.5
$31.4 $33.4 $.
$. $.
Adjusted Diluted
Earnings per Share
(non-GAAP)
08 09 1008 09 10
Reported Diluted
Earnings per Share
Consolidated
Revenues
(billions)
Operating Cash Flow
from Continuing
Operations
(billions)
Declared Dividends
per Share
08 09 10 08 09 1008 09 10
Note: Prior-period amounts have been reclassified to reflect comparable results.
See www.verizon.com/investor for reconciliations to generally accepted accounting principles (GAAP) for the non-GAAP financial measures included in this annual report. Effective with the fourth-quarter
2010, Verizon changed its method of accounting for pension and postretirement benefits. Accordingly, all prior periods have been adjusted for this change, which primarily affected Verizon consolidated
and the Wireline segment. Reclassifications of prior-period amounts have been made, where appropriate, to reflect comparable operating results for the divestiture of overlapping wireless properties in
105 operating markets in 24 states during the first-half of 2010; the wireless deferred revenue adjustment that was disclosed in Verizon’s Form 10-Q for the period ended June 30, 2010; and the spinoff to
Frontier of local exchange and related landline assets in 14 states, effective on July 1, 2010. Verizon’s results for the periods presented also have been adjusted to reflect the spinoff of local exchange and
related business assets in Maine, New Hampshire and Vermont in March 2008.
In keeping with Verizon’s commitment to protect the environment, this report was printed on paper certified by the Forest Stewardship Council (FSC). By selecting FSC-certified paper, Verizon is helping to
make a difference by supporting responsible forest-management practices.
Corporate Highlights
• 6.3% growth in cash ow from operations
•16.4%increaseinfreecashow
•4.8millionnewwirelesscustomers
•25.6%growthinwirelessdatarevenue
•796,000newFiOSInternetconnections
•722,000newFiOSTVconnections
•31.9%growthinFiOSrevenue
•23.1%totalshareholderreturn
•2.6%annualdividendincrease