What are "Verizon's Separate Telephone Operations" as mentioned in this filing?

Verizon's Separate Telephone Operations refer to a specific group of assets and liabilities carved out from various Verizon subsidiaries across multiple states. This includes operations from Verizon California Inc., Verizon North Inc., Verizon South Inc., Verizon Northwest Inc., Contel of the South, Inc., Verizon West Virginia Inc., and components of Verizon Long Distance LLC, Verizon Enterprise Solutions LLC, and Verizon Online LLC. The filing provides specific financial statements for these delineated segments.

Why is Verizon filing separate financial statements for these operations?

While the filing doesn't explicitly state the reason, such disclosures often accompany significant corporate actions, such as potential divestitures, reorganizations, or to provide clearer segment reporting to investors when certain operations are distinct enough to warrant separate financial scrutiny. Investors can use this information to better understand the performance and financial health of these specific telephone assets.

What key financial information can investors find in this report?

Investors can find combined special-purpose statements of selected assets, selected liabilities, and parent funding as of December 31, 2009, and 2008. Additionally, the report includes combined statements of income, parent funding, and cash flows for the three years ending December 31, 2009, along with a Management's Discussion and Analysis for these separate operations.

VZ 8-K SEC Disclosure — Mar 24, 2010

Summary

This 8-K filing by Verizon Communications Inc. (VZ) on March 24, 2010, primarily provides investors with detailed financial information regarding its "Separate Telephone Operations." These operations encompass various carved-out entities from different Verizon subsidiaries across multiple states, including Arizona, Nevada, Illinois, Indiana, Michigan, Ohio, Wisconsin, North Carolina, South Carolina, and West Virginia, along with components of its Long Distance, Enterprise Solutions, and Online divisions. The filing includes combined special-purpose financial statements for these operations as of December 31, 2009, and 2008, along with related statements of income, parent funding, and cash flows for the three years ending December 31, 2009. This disclosure is important for investors interested in understanding the performance and financial condition of these specific business segments, which have been carved out for reporting purposes. The inclusion of Management's Discussion and Analysis (MD&A) offers further insight into the financial condition and operational results of these separate telephone operations.

Key Highlights

1Disclosure of combined special-purpose financial statements for Verizon's Separate Telephone Operations as of December 31, 2009, and 2008.
2Inclusion of related combined statements of income, parent funding, and cash flows for the three years ended December 31, 2009.
3Detailed breakdown of "Separate Telephone Operations" across numerous states and carved-out components of various Verizon subsidiaries.
4Management's Discussion and Analysis (MD&A) of Financial Condition and Results of Operations for these specific operations is provided.
5Filing includes the Consent of Independent Registered Public Accounting Firm, adding a layer of assurance to the presented financial data.
6The financial data pertains to specific assets, liabilities, and parent funding of these delineated telephone operations.

VERIZON COMMUNICATIONS INC 8-K Report, Corporate Update (Mar 24, 2010)

Summary

Key Highlights

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