Verizon Wireless 2010 Annual Report Download - page 47

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Consolidated Statements of Changes in Equity – As Adjusted
45
(dollars in millions, except per share amounts, and shares in thousands)
Years Ended December 31, 2010 2009 2008
Shares Amount Shares Amount Shares Amount
Common Stock
Balance at beginning of year 2,967,610 $ 297 2,967,610 $ 297 2,967,610 $ 297
Balance at end of year 2,967,610 297 2,967,610 297 2,967,610 297
Contributed Capital
Balance at beginning of year 40,108 40,291 40,316
Access line spin-off (2,184) – –
Other (2) (183) (25)
Balance at end of year 37,922 40,108 40,291
Reinvested Earnings
Balance at beginning of year 7,260 7,676 17,884
Benefit plan accounting changes (Note 1) – – (2,953)
Adjusted balance at beginning of year 7,260 7,676 14,931
Net income (loss) attributable to Verizon 2,549 4,894 (2,193)
Dividends declared ($1.925, $1.87 and $1.78 per share) (5,441) (5,310) (5,062)
Balance at end of year 4,368 7,260 7,676
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of year attributable to Verizon (1,372) (1,912) (4,484)
Spin-off of local exchange businesses and related
landline activities (Note 3) 23 – 27
Benefit plan accounting changes (Note 1) – – 2,930
Adjusted balance at beginning of year (1,349) (1,912) (1,527)
Foreign currency translation adjustments (171) 78 (231)
Unrealized gains (losses) on marketable securities 29 87 (97)
Unrealized gains (losses) on cash flow hedges 89 87 (40)
Defined benefit pension and postretirement plans 2,451 288 (17)
Other comprehensive income (loss) 2,398 540 (385)
Balance at end of year attributable to Verizon 1,049 (1,372) (1,912)
Treasury Stock
Balance at beginning of year (131,942) (5,000) (127,090) (4,839) (90,786) (3,489)
Shares purchased – – – – (36,779) (1,368)
Other (Note 10) (9,000) (280) (5,000) (166) – –
Shares distributed
Employee plans 347 13 142 5 468 18
Shareowner plans 8 – 6 – 7 –
Balance at end of year (140,587) (5,267) (131,942) (5,000) (127,090) (4,839)
Deferred Compensation–ESOPs and Other
Balance at beginning of year 89 79 79
Restricted stock equity grant 97 – –
Amortization 14 10 –
Balance at end of year 200 89 79
Noncontrolling Interest
Balance at beginning of year 42,761 37,199 32,266
Net income attributable to noncontrolling interest 7,668 6,707 6,155
Other comprehensive income (loss) (35) 103 (30)
Total comprehensive income 7,633 6,810 6,125
Distributions and other (2,051) (1,248) (1,192)
Balance at end of year 48,343 42,761 37,199
Total Equity $ 86,912 $ 84,143 $ 78,791
Comprehensive Income
Net income $ 10,217 $ 11,601 $ 3,962
Other comprehensive income (loss) 2,363 643 (415)
Total Comprehensive Income $ 12,580 $ 12,244 $ 3,547
Comprehensive income attributable to noncontrolling interest $ 7,633 $ 6,810 $ 6,125
Comprehensive income (loss) attributable to Verizon 4,947 5,434 (2,578)
Total Comprehensive Income $ 12,580 $ 12,244 $ 3,547
See Notes to Consolidated Financial Statements
VERIZON COMMUNICATIONS INC. AND SUBSIDIARIES