VERIZON COMMUNICATIONS INC | 2013 | FY | 3


A reconciliation of the total of the reportable segments’ operating income to consolidated Income before (provision) benefit for income taxes is as follows:

 

     (dollars in millions)  
Years Ended December 31,    2013     2012     2011  

Operating Income

      

Total segment operating income

   $   26,370     $   21,828     $   19,486  

Severance, pension and benefit credits (charges) (Note 11)

     6,232       (7,186     (5,954

Gain on spectrum license transaction (Note 2)

     278              

Litigation settlements (Note 16)

           (384      

Other costs (Note 8)

           (276      

Corporate, eliminations and other

     (912     (822     (652
  

 

 

 

Consolidated operating income

     31,968       13,160       12,880  

Equity in earnings of unconsolidated businesses

     142       324       444  

Other income and (expense), net

     (166     (1,016     (14

Interest expense

     (2,667     (2,571     (2,827
  

 

 

 

Income Before (Provision) Benefit for Income Taxes

   $ 29,277     $ 9,897     $ 10,483  
  

 

 

 

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