(as of December 31, 2009)
- > 14.5% growth in cash flow from operations
- > 40.7% increase in free cash flow
- > 5.9 million new wireless customers
- > 31% growth in wireless data revenue
- > 952,000 new FiOS customers
- > 56.5% growth in FiOS revenue
- > 3.8% total shareholder return
- > 3.3% annual dividend increase
Note: Prior-period amounts have been reclassified to reflect comparable results.
See www.verizon.com/investor for reconciliations to generally accepted accounting principles (GAAP) for the non-GAAP financial measures included in this annual report. Verizon’s results for the periods presented have been adjusted to reflect the spinoff of local exchange and related business assets in Maine, New Hampshire and Vermont in March 2008. These reclassifications were determined using specific information where available and allocations where data is not maintained on a state-specific basis within the Company’s books and records. Discontinued operations include Telecomunicaciones de Puerto Rico Inc. (TELPRI), which was sold in the first quarter of 2007.
Corporate Highlights shown above are presented on a pro forma and adjusted basis. Intra- and inter-segment transactions have not been eliminated from the business group revenue totals cited in this document. Pro forma information presents the combined operating results of Verizon and Alltel, with the results prior to the acquisition date adjusted to include the pro forma impact of: the elimination of transactions between Verizon and Alltel; the adjustment of amortization of intangible assets and depreciation of fixed assets based on the preliminary purchase price allocation; the elimination of merger expenses and management fees incurred by Alltel; and the adjustment of interest expense reflecting the assumption and partial redemption of Alltel’s debt and incremental borrowings incurred by Verizon Wireless to complete the acquisition of Alltel.