Inventory consists of wireless and wireline equipment held for sale, which is carried at the lower of cost (determined principally on either an average cost or first-in, first-out basis) or market.
Source: Verizon Communications Inc., Annual Report
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Verizon Communications Inc., Statement of Financial Position, Inventory
USD $ in millions
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
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Wireless and wireline equipment held for sale | |
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Inventories | |
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Source: Based on data from Verizon Communications Inc. Annual Reports
| Item | Description | The company |
|---|---|---|
| Wireless and wireline equipment held for sale | Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. | Verizon Communications Inc.'s wireless and wireline equipment held for sale declined from 2009 to 2010 and from 2010 to 2011. |
| Inventories | Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). | Verizon Communications Inc.'s inventories declined from 2009 to 2010 and from 2010 to 2011. |
May 24, 2012