Verizon Wireless 2010 Annual Report Download - page 44

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42
VERIZON COMMUNICATIONS INC. AND SUBSIDIARIES
Consolidated Statements of Income – As Adjusted
(dollars in millions, except per share amounts)
Years Ended December 31, 2010 2009 2008
Operating Revenues $ 106,565 $ 107,808 $ 97,354
Operating Expenses
Cost of services and sales (exclusive of items shown below) 44,149 44,579 38,615
Selling, general and administrative expense 31,366 30,717 41,517
Depreciation and amortization expense 16,405 16,534 14,610
Total Operating Expenses 91,920 91,830 94,742
Operating Income 14,645 15,978 2,612
Equity in earnings of unconsolidated businesses 508 553 567
Other income and (expense), net 54 91 283
Interest expense (2,523) (3,102) (1,819)
Income Before (Provision) Benefit for Income Taxes 12,684 13,520 1,643
(Provision) benefit for income taxes (2,467) (1,919) 2,319
Net Income $ 10,217 $ 11,601 $ 3,962
Net income attributable to noncontrolling interest $ 7,668 $ 6,707 $ 6,155
Net income (loss) attributable to Verizon 2,549 4,894 (2,193)
Net Income $ 10,217 $ 11,601 $ 3,962
Basic Earnings (Loss) Per Common Share
Net income (loss) attributable to Verizon $ .90 $ 1.72 $ (.77)
Weighted-average shares outstanding (in millions) 2,830 2,841 2,849
Diluted Earnings (Loss) Per Common Share
Net income (loss) attributable to Verizon $ .90 $ 1.72 $ (.77)
Weighted-average shares outstanding (in millions) 2,833 2,841 2,849
See Notes to Consolidated Financial Statements