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Verizon Communications Inc. (VZ) | Analysis of Debt

Total Debt Disclosure

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Verizon Communications Inc., Statement of Financial Position, Debt

USD $ in millions

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    Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008 Dec 31, 2007
chart Debt maturing within one year
chart Long-term debt, excluding maturing within one year
chart Total debt

Source: Based on data from Verizon Communications Inc., Annual Reports

Item Description The company
Total debt Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Verizon Communications Inc.'s total debt declined from 2009 to 2010 but then slightly increased from 2010 to 2011.

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Interest Costs Incurred

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Verizon Communications Inc.

USD $ in millions

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  12 months ended Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008 Dec 31, 2007
chart Interest expense
chart Capitalized interest costs
chart Interest costs on debt balances

Source: Based on data from Verizon Communications Inc., Annual Reports

Item Description The company
Interest expense Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Verizon Communications Inc.'s interest expense declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level.
Capitalized interest costs The amount of interest that was capitalized during the period. Verizon Communications Inc.'s capitalized interest costs increased from 2009 to 2010 but then declined significantly from 2010 to 2011.
Interest costs on debt balances Total interest costs incurred during the period and either capitalized or charged against earnings. Verizon Communications Inc.'s interest costs on debt balances declined from 2009 to 2010 and from 2010 to 2011.

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Adjusted Interest Coverage Ratio

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    Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008 Dec 31, 2007
  Selected Financial Data (USD $ in millions)
chart Net income attributable to Verizon
chart Add: Net income attributable to noncontrolling interest
chart Add: Interest expense
chart Add: Income tax expense (benefit)
chart Earnings before interest and tax (EBIT)
   
chart Interest costs on debt balances
  Ratio With and Without Capitalized Interest
chart Interest coverage ratio (excluding capitalized interest)1
chart Adjusted interest coverage ratio (including capitalized interest)2

2011 Calculations

1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest costs on debt balances
= ÷ =

Ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Verizon Communications Inc.'s adjusted interest coverage ratio improved from 2009 to 2010 but then slightly deteriorated from 2010 to 2011.

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