Selected Financial Data

(dollars in millions, except per share amounts)
	2008			2007			2006			2005			2004
Results of Operations
Operating revenues	$	97,354		$	93,469		$	88,182		$	69,518		$	65,751
Operating income		16,884			15,578			13,373			12,581			10,870
Income before discontinued operations,
extraordinary item and cumulative effect of
accounting change		6,428			5,510			5,480			6,027			5,899
Per common share – basic		2.26			1.90			1.88			2.18			2.13
Per common share – diluted		2.26			1.90			1.88			2.16			2.11
Net income available to common shareowners		6,428			5,521			6,197			7,397			7,831
Per common share – basic		2.26			1.91			2.13			2.67			2.83
Per common share – diluted		2.26			1.90			2.12			2.65			2.79
Cash dividends declared per common share		1.78			1.67			1.62			1.62			1.54
Financial Position
Total assets	$	202,352		$	186,959		$	188,804		$	168,130		$	165,958
Debt maturing within one year		4,993			2,954			7,715			6,688			3,476
Long-term debt		46,959			28,203			28,646			31,569			34,970
Employee benefit obligations		32,512			29,960			30,779			17,693			16,796
Minority interest		37,199			32,288			28,337			26,433			24,709
Shareowners’ investment		41,706			50,581			48,535			39,680			37,560

• Significant events affecting our historical earnings trends in 2006 through 2008 are described in Management’s Discussion and Analysis of Financial Condition and Results of Operations.
• 2005 data includes sales of business, lease impairment, severance, pension and benefit charges and other items.
• 2004 data includes sales of business, severance, pension and benefit charges and other items.

Stock Performance Graph

Comparison of Five-Year Total Return Among Verizon, S&P 500 Telecom Services Index and S&P 500 Stock Index

 

Data Points in Dollars	At December 31,
	2003	2004	2005	2006	2007	2008
Verizon	100.0	120.2	93.7	126.0	153.9	126.1
S&P Telecom Services	100.0	119.9	113.5	155.0	173.4	120.6
S&P 500	100.0	110.9	116.3	134.7	142.1	89.5

The graph compares the cumulative total returns of Verizon, the S&P 500 Telecommunications Services Index, and the S&P 500 Stock Index over a five-year period, adjusted for the spin-off of our local exchange and related business assets in Maine, New Hampshire and Vermont and our domestic print and Internet yellow pages directories business. It assumes $100 was invested on December 31, 2003, with dividends reinvested.

Feature | Selected Financial Data and MD&A | Financials | Proxy

* This is an interactive electronic version of Verizon’s 2008 Annual Report to Shareowners, and it is intended to be complete and accurate. The contents of this version are qualified in their entirety by reference to the printed version. A reproduction of the printed version is available in PDF format on this website.