| Income Statement for Verizon Communications Inc. (VZ) | | | | After Hours: $ 30.00 |  0.04 (+0.13%) | Volume: 301.3 k | 7:58 PM EDT Oct 6, 2008 | | | | | | | Income | in Millions of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Operating Revenue | 93,469 | 88,144 | 75,112 | 71,283 | 67,752 | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | (37,547) | (34,994) | (25,469) | (23,168) | (21,783) | | Gross Operating Profit | 55,922 | 53,150 | 49,643 | 48,115 | 45,969 | | | Selling/General/Admin Expense | (25,967) | (25,232) | (21,312) | (21,088) | (24,999) | | Research & Development | - | - | - | - | - | | EBITDA | 29,955 | 27,918 | 28,331 | 27,027 | 20,970 | | Depreciation & Amortization | (14,377) | (14,545) | (14,047) | (13,910) | (13,617) | | EBIT | 15,578 | 13,373 | 14,284 | 13,117 | 7,353 | | Interest Income | 168 | 201 | - | - | 96 | | Other Income, Net | 43 | 194 | 329 | 97 | 273 | | Total Income Avail For Interest Expense | 16,374 | 14,541 | 15,832 | 14,905 | 9,141 | | Interest Expense | (1,829) | (2,349) | (2,180) | (2,384) | (2,797) | | Pre-Tax Income | 14,545 | 12,192 | 13,652 | 12,521 | 6,344 | | Income Taxes | (3,982) | (2,674) | (3,210) | (2,851) | (1,252) | | Minority Interest | (5,053) | (4,038) | (3,045) | (2,409) | (1,583) | | Net Income from Continuing Operations | 5,510 | 5,480 | 7,397 | 7,261 | 3,509 | | Net Income from Discontinued Operations | 142 | 759 | - | 570 | (935) | | Net Income from Total Operations | 5,652 | 6,239 | 7,397 | 7,831 | 2,574 | | | Normalized Income | 5,510 | 5,480 | 6,867 | 7,261 | 3,368 | | Extraordinary Income | (131) | - | - | - | - | | Special Income/Charges | - | - | 530 | - | 141 | | Income from Cum. Effect of Acct Change | - | (42) | - | - | 503 | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | 5,521 | 6,197 | 7,397 | 7,831 | 3,077 | | | Results | in Dollars (Preferred Dividends in Millions) | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Dividends Paid Per Share | 1.65 | 1.62 | 1.60 | 1.54 | 1.54 | | Preferred Dividends | - | - | - | - | - | | | Basic EPS from Continuing Operations | 1.90 | 1.88 | 2.67 | 2.62 | 1.27 | | Basic EPS from Discontinued Operations | 0.05 | 0.26 | 0.00 | 0.21 | -0.34 | | Basic EPS from Total Operations | 1.95 | 2.14 | 2.67 | 2.83 | 0.93 | | | Diluted EPS from Continuing Operations | 1.90 | 1.88 | 2.65 | 2.59 | 1.27 | | Diluted EPS from Discontinued Operations | 0.05 | 0.26 | 0.00 | 0.20 | -0.34 | | Diluted EPS from Total Operations | 1.95 | 2.14 | 2.65 | 2.79 | 0.93 | | | |
