Verizon Wireless 2012 Annual Report Download - page 81

Download and view the complete annual report

Please find page 81 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

79
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
Reconciliation to Consolidated Financial Information
A reconciliation of the segment operating revenues to consolidated operating revenues is as follows:
(dollars in millions)
Years Ended December 31, 2012 2011 2010
Operating Revenues
Total reportable segments $ 115,648 $ 110,836 $ 104,634
Reconciling items:
Deferred revenue adjustment (see Note 1) – – (235)
Impact of divested operations – – 2,407
Corporate, eliminations and other 198 39 (241)
Consolidated operating revenues $ 115,846 $ 110,875 $ 106,565
A reconciliation of the total of the reportable segments' operating income to consolidated Income before provision for income taxes is as follows:
(dollars in millions)
Years Ended December 31, 2012 2011 2010
Operating Income
Total segment operating income $ 21,828 $ 19,486 $ 19,492
Merger integration and acquisition related charges (see Note 2) – – (867)
Access line spin-off related charges (see Note 2) – – (407)
Litigation settlements (see Note 16) (384) – –
Severance, pension and benefit charges (see Note 11) (7,186) (5,954) (3,054)
Deferred revenue adjustment (see Note 1) – – (235)
Impact of divested operations (see Note 2) – – 755
Other costs (see Note 8) (276) – –
Corporate, eliminations and other (822) (652) (1,039)
Consolidated operating income 13,160 12,880 14,645
Equity in earnings of unconsolidated businesses 324 444 508
Other income and (expense), net (1,016) (14) 54
Interest expense (2,571) (2,827) (2,523)
Income Before Provision for Income Taxes $ 9,897 $ 10,483 $ 12,684
A reconciliation of the total of the reportable segments' assets to consolidated assets is as follows:
(dollars in millions)
At December 31, 2012 2011
Assets
Total reportable segments $ 227,300 $ 233,563
Corporate, eliminations and other (2,078) (3,102)
Total consolidated $ 225,222 $ 230,461
We generally account for intersegment sales of products and services and asset transfers at current market prices. No single customer accounted for
more than 10% of our total operating revenues during the years ended December 31, 2012, 2011 and 2010. International operating revenues and
long-lived assets are not significant.