VZC Verizon Comms

Verizon Communications Inc. 
Reconciliations - Consolidated Verizon 
 
Adjusted and Illustrative Net Income - Verizon         (dollars in millions) 
                                                               3 Mos. Ended 
Unaudited                                                           3/31/14 
 
Reported Net Income attributable to Verizon                         $ 3,947 
Wireless transaction costs                                              260 
Early debt redemption costs                                             575 
Gain on sale of Omnitel interest                                     (1,888) 
Adjusted Net Income                                                   2,894 
Income from Vodafone noncontrolling interest                          1,183 
Wireless transaction costs                                             (267) 
Elimination of Omnitel equity income                                    (24) 
Illustrative Net Income                                             $ 3,786 
 
 
Adjusted and Illustrative EPS 
 
                                   3 Mos. Ended   3 Mos. Ended  3 Mos. Ended 
Unaudited                               3/31/13       12/31/13       3/31/14 
 
Earnings Per Common Share, Reported      $ 0.68         $ 1.76        $ 1.15 
Severance, pension and benefit credits        -          (1.29)            - 
Early debt redemption costs                   -              -          0.17 
Wireless transaction costs                    -           0.19          0.08 
Gain on sale of Omnitel interest              -              -         (0.55) 
Adjusted EPS                             $ 0.68         $ 0.66        $ 0.84 
 
Income from Vodafone noncontrolling interest                            0.29 
Wireless transaction costs                                             (0.06) 
Elimination of Omnitel equity income                                   (0.01) 
Dilutive effect of share issuance                                      (0.14) 
Illustrative EPS                                                      $ 0.91 
 
Note: EPS may not add due to rounding. 
 
 
Verizon Communications Inc. 
Reconciliations - Segments 
 
Wireless 
                                                        (dollars in millions) 
 
                                3 Mos. Ended     3 Mos. Ended    3 Mos. Ended 
Unaudited                            3/31/13         12/31/13         3/31/14 
 
Wireless Segment EBITDA 
Operating income                     $ 6,418          $ 6,229         $ 7,318 
Add Depreciation and 
amortization expense                   2,006            2,089           2,061 
Wireless Segment EBITDA              $ 8,424          $ 8,318         $ 9,379 
Wireless total operating revenues   $ 19,523         $ 21,125        $ 20,879 
Wireless service revenues           $ 16,728         $ 17,711        $ 17,987 
 
Wireless operating income margin        32.9%            29.5%           35.0% 
Wireless Segment EBITDA service margin  50.4%            47.0%           52.1% 
 
 
Wireline 
 
                                                          (dollars in millions) 
                                3 Mos. Ended     3 Mos. Ended    3 Mos. Ended 
Unaudited                            3/31/13         12/31/13         3/31/14 
 
Wireline Segment EBITDA 
Operating income                        $ 13            $ 131           $ 147 
Add Depreciation and 
amortization expense                   2,095            2,073           2,033 
Wireline Segment EBITDA              $ 2,108          $ 2,204         $ 2,180 
Wireline total operating revenues    $ 9,830          $ 9,845         $ 9,790 
Wireline operating income margin         0.1%             1.3%            1.5% 
Wireline Segment EBITDA margin          21.4%            22.4%           22.3% 
 
SOURCE  Verizon Communications, Inc. 
 
CONTACT: Bob Varettoni, 908-559-6388, robert.a.varettoni@verizon.com, or Ray 
McConville, 908-559-3504, raymond.mcconville@verizon.com 
 
 
 
END 
 

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