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

The main purpose of this 8-K filing is to report Verizon Communications Inc.'s financial results for the fourth quarter and the full year of 2011. It includes a press release and financial tables that contain the detailed results.

Why does Verizon include so many non-GAAP financial measures in its filings?

Verizon uses non-GAAP financial measures to provide investors with a more comprehensive understanding of its operational performance and trends. These measures often exclude certain items (like non-recurring events or divested operations) that management believes do not reflect the ongoing operational performance of the business.

Where can I find the actual financial results and performance numbers?

The actual financial results, including revenues, earnings, and cash flow, are detailed in the press release and financial tables attached as Exhibit 99 to this 8-K filing. Investors should review these exhibits for the specific financial data.

What is 'Free Cash Flow' according to Verizon's definition in this filing?

According to this filing, Free Cash Flow is a non-GAAP measure calculated by subtracting capital expenditures from net cash provided by operating activities. Verizon believes this measure is useful for evaluating cash available to pay debt and dividends.

VZ 8-K: Earnings & Results

Summary

Verizon Communications Inc. (VZ) filed an 8-K on January 24, 2012, primarily to announce its fourth-quarter and full-year 2011 results. The filing attaches a press release and financial tables, which are key for investors to understand the company's performance. A significant portion of the filing is dedicated to defining and explaining various non-GAAP financial measures that Verizon uses, such as Adjusted Operating Revenues, EBITDA, Adjusted EBITDA, Adjusted EPS, and Free Cash Flow. These definitions are crucial for investors to accurately interpret the company's financial health and operational trends beyond standard GAAP reporting. The investor should note that the press release and financial tables themselves (Exhibit 99) contain the core operational and financial data. While the 8-K filing itself provides the regulatory framework and definitions, the actual financial results, including revenue, earnings, and cash flow metrics, are within the attached exhibits. Investors are encouraged to review these exhibits thoroughly to gain a comprehensive understanding of Verizon's financial condition and performance for the reported period.

Key Highlights

1The 8-K filing is primarily to report Verizon's fourth-quarter and full-year 2011 financial results.
2The filing includes a press release and financial tables (Exhibit 99) containing the detailed financial information.
3Verizon provides extensive definitions and explanations of its non-GAAP financial measures.
4Key non-GAAP measures defined include Adjusted Operating Revenues, Consolidated EBITDA, Consolidated Adjusted EBITDA, Adjusted Earnings Per Share (Adjusted EPS), and Free Cash Flow.
5Management uses these non-GAAP measures to provide additional insight into operating results, trends, and profitability, often excluding non-recurring items and divested operations.
6The purpose of defining these non-GAAP metrics is to enhance investor understanding of operational performance and comparability.
7Investors are directed to review the attached exhibits (Exhibit 99) for the actual financial data and performance metrics.

VERIZON COMMUNICATIONS INC 8-K Report, Financial Results (Jan 24, 2012)

Summary

Key Highlights

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