Verizon Wireless 2012 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 2012 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 88

  • 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
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88

54
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(dollars in millions, except per share amounts, and shares in thousands)
Years Ended December 31, 2012 2011 2010
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 37,919 37,922 40,108
Telephone access line spin-off (Note 2) – – (2,184)
Other 71 (3) (2)
Balance at end of year 37,990 37,919 37,922
Reinvested Earnings (Accumulated Deficit)
Balance at beginning of year 1,179 4,368 7,260
Net income attributable to Verizon 875 2,404 2,549
Dividends declared ($2.03, $1.975, $1.925) per share (5,788) (5,593) (5,441)
Balance at end of year (3,734) 1,179 4,368
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of year attributable to Verizon 1,269 1,049 (1,372)
Telephone access line spin-off (Note 2) – – 23
Adjusted balance at beginning of year 1,269 1,049 (1,349)
Foreign currency translation adjustments 69 (119) (171)
Unrealized gains (losses) on cash flow hedges (68) 30 89
Unrealized gains (losses) on marketable securities 29 (7) 29
Defined benefit pension and postretirement plans 936 316 2,451
Other comprehensive income 966 220 2,398
Balance at end of year attributable to Verizon 2,235 1,269 1,049
Treasury Stock
Balance at beginning of year (133,594) (5,002) (140,587) (5,267) (131,942) (5,000)
Employee plans (Note 15) 11,434 433 6,982 265 347 13
Shareowner plans (Note 15) 13,119 498 11 – 8 –
Other (Note 9) – – – – (9,000) (280)
Balance at end of year (109,041) (4,071) (133,594) (5,002) (140,587) (5,267)
Deferred Compensation-ESOPs and Other
Balance at beginning of year 308 200 89
Restricted stock equity grant 196 146 97
Amortization (64) (38) 14
Balance at end of year 440 308 200
Noncontrolling Interest
Balance at beginning of year 49,938 48,343 42,761
Net income attributable to noncontrolling interest 9,682 7,794 7,668
Other comprehensive income (loss) 10 1 (35)
Total comprehensive income 9,692 7,795 7,633
Distributions and other (7,254) (6,200) (2,051)
Balance at end of year 52,376 49,938 48,343
Total Equity $ 85,533 $ 85,908 $ 86,912
See Notes to Consolidated Financial Statements
VERIZON COMMUNICATIONS INC. AND SUBSIDIARIES