Notes to Consolidated Financial Statements

NOTE 6

PLANT, PROPERTY AND EQUIPMENT

The following table displays the details of plant, property and equipment, which is stated at cost:

(dollars in millions)

At December 31,

2008

 

2007

 

Land

$

815

 

$

839

 

Buildings and equipment

 

20,440

 

 

19,734

 

Network equipment

 

175,757

 

 

173,654

 

Furniture, office and data processing equipment

 

10,477

 

 

11,912

 

Work in progress

 

1,279

 

 

1,988

 

Leasehold improvements

 

4,155

 

 

3,612

 

Other

 

2,682

 

 

2,255

 

 

 

215,605

 

 

213,994

 

Less accumulated depreciation

 

129,059

 

 

128,700

 

Total

$

86,546

 

$

85,294

 

Verizon Center Relocation, Net

During 2006, we recorded pretax charges of $184 million ($118 million after-tax) in connection with the relocation of employees and business operations to Verizon Center located in Basking Ridge, New Jersey.