What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to officially attach and make available to the public a press release and accompanying financial tables, dated October 21, 2011, which contain Verizon Communications Inc.'s financial results and operational condition. This filing ensures that these important financial disclosures are formally part of the company's SEC filings.

What are non-GAAP financial measures and why does Verizon use them?

Non-GAAP financial measures are metrics that are not calculated in accordance with Generally Accepted Accounting Principles (GAAP). Verizon uses them, such as adjusted EBITDA, adjusted EPS, and free cash flow, to provide investors with additional insights into the company's operational performance and financial health. Management believes these measures enhance the understanding of profitability on a variable cost basis and leverage by excluding items like depreciation, amortization, and non-operational or non-recurring events.

Where can I find the detailed financial results discussed in this filing?

The detailed financial results, commentary, and calculations for both GAAP and non-GAAP measures are provided in Exhibit 99, which is the press release and financial tables dated October 21, 2011, attached to this 8-K filing.

Are the non-GAAP measures presented as a replacement for GAAP information?

No, Verizon explicitly states that its non-GAAP financial information should be considered in addition to, but not instead of, the financial statements prepared in accordance with GAAP. The company presents these non-GAAP measures to enhance understanding alongside its official GAAP financial results.

VZ 8-K: Earnings & Results

Summary

This 8-K filing from Verizon Communications Inc. on October 21, 2011, primarily serves to attach a press release and financial tables that detail the company's financial results and condition. The filing highlights Verizon's use of non-GAAP financial measures, such as adjusted EBITDA, adjusted EPS, and free cash flow, to provide a more comprehensive view of its operational performance and leverage. Investors should note that these non-GAAP figures are presented alongside GAAP results and are intended to enhance the understanding of profitability and financial flexibility by excluding certain items like depreciation, amortization, and non-recurring or divested operational impacts. The core purpose of this filing is to disseminate key financial performance indicators and definitions of the non-GAAP metrics that Verizon management believes are crucial for investors to assess the company's operational trends and evaluate its performance relative to competitors. The attachment of Exhibit 99, the press release and financial tables, indicates that the detailed financial data and management's commentary on these results are provided therein, offering investors the necessary information to analyze Verizon's financial health as of that reporting period.

Key Highlights

1Verizon Communications Inc. filed an 8-K on October 21, 2011, attaching a press release and financial tables (Exhibit 99) detailing its financial results.
2The filing emphasizes Verizon's use of non-GAAP financial measures to supplement its GAAP reporting.
3Key non-GAAP metrics discussed include Consolidated adjusted EBITDA, Wireless EBITDA, Wireline EBITDA, Net Debt, Net Debt to Adjusted EBITDA Ratio, Adjusted EPS, and Free Cash Flow.
4Management believes these non-GAAP measures provide enhanced insights into operational profitability, leverage, and cash generation capabilities.
5Specific definitions are provided for each non-GAAP metric, explaining how they are calculated and what is excluded (e.g., depreciation, amortization, non-operational items, divested operations).
6The company aims to provide these metrics to help investors better evaluate operating performance, leverage trends, and cash available for debt and dividends.

VERIZON COMMUNICATIONS INC 8-K Report, Financial Results (Oct 21, 2011)

Summary

Key Highlights

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