EX-99.5 6 d68491dex995.htm EX-99.5 EX-99.5

Exhibit 99.5

VERIZON’S SEPARATE TELEPHONE OPERATIONS IN CALIFORNIA, FLORIDA AND TEXAS

UNAUDITED QUARTERLY ADJUSTED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS INFORMATION(1)

 

($ in millions)

    Three
Months
Ended
3/31/15		      Three Months
Ended
6/30/15		      Six Months
Ended
6/30/15		  

Revenue

    $ 1,425       $ 1,430       $ 2,855   

Cost and expenses (exclusive of depreciation and amortization)

      1,010         995         2,005   

Depreciation and amortization

      249         262         511   
  

 

 

     

 

 

     

 

 

  

Total operating expenses

      1,259         1,257         2,516   
  

 

 

     

 

 

     

 

 

  

Operating income

      166         173         339   

Interest expense

      8         7         15   

Income tax expense

      61         67         128   
  

 

 

     

 

 

     

 

 

  

Net income

    $ 97       $ 99       $ 196   
  

 

 

     

 

 

     

 

 

  

 

(1)  Pro forma adjustments to depreciation and amortization for customer list intangibles, interest expense related to the financing of the Transaction and related tax impact are excluded from the VSTO pro forma statement of operations information as these amounts would be recorded on the Frontier corporate ledger.