Verizon Communications Inc. Exhibit 99.2

Consolidated Statements of Income-Reconciliations

Restated for Discontinued Operations

For the Quarter Ended March 31, 2006

							(dollars in millions, except per share amounts)
				Special and Non-Recurring Items
Unaudited	3 Mos. Ended 3/31/06 Reported (GAAP)			Extinguishment of Debt			Verizon Center Relocation, Net			Impact of Accounting for Share Based Payments		Merger Integration Costs			3 Mos. Ended 3/31/06 Before Special Items
Operating Revenues	$	22,058		$	—		$	—		$	—	$	—		$	22,058
Operating Expenses
Cost of services and sales		8,589			—			—			—		—			8,589
Selling, general & administrative expense		6,188			—			(46	)		—		(55	)		6,087
Depreciation and amortization expense		3,689			—			—			—		—			3,689
Total Operating Expenses		18,466			—			(46	)		—		(55	)		18,365
Operating Income		3,592			—			46			—		55			3,693
Equity in earnings of unconsolidated businesses		157			—			—			—		—			157
Other income and (expense), net		103			—			—			—		—			103
Interest expense		(636	)		26			—			—		—			(610	)
Minority interest		(868	)		—			—			—		—			(868	)
Income Before Provision for Income Taxes, Discontinued Operations and Cumulative Effect of Accounting Change		2,348			26			46			—		55			2,475
Provision for income taxes		(812	)		(10	)		(18	)		—		(20	)		(860	)
Income Before Discontinued Operations and Cumulative Effect of Accounting Change		1,536			16			28			—		35			1,615
Discontinued Operations
Income from operations		203			—			—			—		—			203
Provision for income taxes		(65	)		—			—			—		—			(65	)
Income on discontinued operations		138			—			—			—		—			138
Cumulative Effect of Accounting Change, Net of Tax		(42	)		—			—			42		—			—
Net Income	$	1,632		$	16		$	28		$	42	$	35		$	1,753
Basic Earnings per Common Share(1)
Income before discontinued operations and cumulative effect of accounting change	$	0.53		$	0.01		$	0.01		$	—	$	0.01		$	0.55
Income on discontinued operations, net of tax	$	0.05		$	—		$	—		$	—	$	—		$	0.05
Cumulative effect of accounting change, net of tax	$	(0.01	)	$	—		$	—		$	0.01	$	—		$	—
Net income	$	0.56		$	0.01		$	0.01		$	0.01	$	0.01		$	0.60
Diluted Earnings per Common Share(1)
Income before discontinued operations and cumulative effect of accounting change	$	0.52		$	0.01		$	0.01		$	—	$	0.01		$	0.55
Income on discontinued operations, net of tax	$	0.05		$	—		$	—		$	—	$	—		$	0.05
Cumulative effect of accounting change, net of tax	$	(0.01	)	$	—		$	—		$	0.01	$	—		$	—
Net income	$	0.56		$	0.01		$	0.01		$	0.01	$	0.01		$	0.60

Footnote:

(1) EPS totals may not add due to rounding.

For the Year Ended December 31, 2005

																			(dollars in millions, except per share amounts)
				Special and Non-Recurring Items
Unaudited	12 Mos. Ended 12/31/05 Reported (GAAP)			Sales of Businesses, Net			Impact of Operations Sold			Verizon Center Relocation, Net			Lease Impairment and Other Special Items			Tax Benefits			Tax on Repatriated Earnings		Pension and Benefit Charges			Severance			12 Mos. Ended 12/31/05 Before Special Items
Operating Revenues	$	72,992		$	—		$	(202	)	$	—		$	—		$	—		$	—	$	—		$	—		$	72,790
Operating Expenses
Cost of services and sales		24,783			—			(73	)		—			—			—			—		—			—			24,710
Selling, general & administrative expense		20,704			—			(51	)		18			(125	)		—			—		(98	)		(59	)		20,389
Depreciation and amortization expense		13,708			—			—			—			—			—			—		—			—			13,708
Sales of businesses, net		(530	)		530			—			—			—			—			—		—			—			—
Total Operating Expenses		58,665			530			(124	)		18			(125	)		—			—		(98	)		(59	)		58,807
Operating Income		14,327			(530	)		(78	)		(18	)		125			—			—		98			59			13,983
Operating income impact of operations sold		—			—			78			—			—			—			—		—			—			78
Equity in earnings of unconsolidated businesses		686			—			—			—			—			—			—		—			—			686
Income from other unconsolidated businesses		92			—			—			—			—			—			—		—			—			92
Other income and (expense), net		221			—			—			—			14			—			—		—			—			235
Interest expense		(2,129	)		—			—			—			—			—			—		—			—			(2,129	)
Minority interest		(3,008	)		—			—			—			—			—			—		—			—			(3,008	)
Income Before Provision for Income Taxes and Discontinued Operations		10,189			(530	)		—			(18	)		139			—			—		98			59			9,937
Provision for income taxes		(3,074	)		194			—			10			(6	)		(336	)		206		(39	)		(23	)		(3,068	)
Income Before Discontinued Operations		7,115			(336	)		—			(8	)		133			(336	)		206		59			36			6,869
Discontinued Operations
Income from operations		418			—			—			—			—			—			—		—			—			418
Provision for income taxes		(136	)		—			—			—			—			—			—		—			—			(136	)
Income on discontinued operations		282			—			—			—			—			—			—		—			—			282
Net Income	$	7,397		$	(336	)	$	—		$	(8	)	$	133		$	(336	)	$	206	$	59		$	36		$	7,151
Basic Earnings per Common Share(1)
Income before discontinued operations	$	2.57		$	(0.12	)	$	—		$	—		$	0.05		$	(0.12	)	$	0.07	$	0.02		$	0.01		$	2.48
Income on discontinued operations, net of tax	$	0.10		$	—		$	—		$	—		$	—		$	—		$	—	$	—		$	—		$	0.10
Net income	$	2.67		$	(0.12	)	$	—		$	—		$	0.05		$	(0.12	)	$	0.07	$	0.02		$	0.01		$	2.59
Diluted Earnings per Common Share(1)
Income before discontinued operations	$	2.55		$	(0.12	)	$	—		$	—		$	0.05		$	(0.12	)	$	0.07	$	0.02		$	0.01		$	2.46
Income on discontinued operations, net of tax	$	0.10		$	—		$	—		$	—		$	—		$	—		$	—	$	—		$	—		$	0.10
Net income	$	2.65		$	(0.12	)	$	—		$	—		$	0.05		$	(0.12	)	$	0.07	$	0.02		$	0.01		$	2.56

Footnote:

(1) EPS totals may not add due to rounding.

Verizon Communications Inc.	Exhibit 99.2
Consolidated Statements of Income-Reconciliations	(cont’d)
Restated for Discontinued Operations

For the Quarter Ended March 31, 2005

	(dollars in millions, except per share amounts)
				Special and Non-Recurring Items
Unaudited	3 Mos. Ended 3/31/05 Reported (GAAP)			Impact of Operations Sold			3 Mos. Ended 3/31/05 Before Special Items
Operating Revenues	$	17,682		$	(149	)	$	17,533
Operating Expenses
Cost of services and sales		5,952			(53	)		5,899
Selling, general & administrative expense		5,077			(38	)		5,039
Depreciation and amortization expense		3,376			—			3,376
Total Operating Expenses		14,405			(91	)		14,314
Operating Income		3,277			(58	)		3,219
Operating income impact of operations sold		—			58			58
Equity in earnings of unconsolidated businesses		193			—			193
Income from other unconsolidated businesses		56			—			56
Other income and (expense), net		69			—			69
Interest expense		(548	)		—			(548	)
Minority interest		(610	)		—			(610	)
Income Before Provision for Income Taxes and Discontinued Operations		2,437			—			2,437
Provision for income taxes		(751	)		—			(751	)
Income Before Discontinued Operations		1,686			—			1,686
Discontinued Operations
Income from operations		99			—			99
Provision for income taxes		(28	)		—			(28	)
Income on discontinued operations		71			—			71
Net Income	$	1,757		$	—		$	1,757
Basic Earnings per Common Share(1)
Income before discontinued operations	$	.61		$	—		$	.61
Income on discontinued operations, net of tax	$	.03		$	—		$	.03
Net income	$	.63		$	—		$	.63
Diluted Earnings per Common Share(1)
Income before discontinued operations	$	.60		$	—		$	.60
Income on discontinued operations, net of tax	$	.03		$	—		$	.03
Net income	$	.63		$	—		$	.63

Footnote:

(1) EPS totals may not add due to rounding.

For the Quarter Ended June 30, 2005

							(dollars in millions, except per share amounts)
				Special and Non-Recurring Items
Unaudited	3 Mos. Ended 6/30/05 Reported (GAAP)			Sales of Businesses, Net			Impact of Operations Sold			Tax Benefits			Tax on Repatriated Earnings		3 Mos. Ended 6/30/05 Before Special Items
Operating Revenues	$	18,053		$	—		$	(53	)	$	—		$	—	$	18,000
Operating Expenses
Cost of services and sales		6,077			—			(20	)		—			—		6,057
Selling, general & administrative expense		5,110			—			(13	)		—			—		5,097
Depreciation and amortization expense		3,410			—			—			—			—		3,410
Sales of businesses, net		(530	)		530			—			—			—		—
Total Operating Expenses		14,067			530			(33	)		—			—		14,564
Operating Income		3,986			(530	)		(20	)		—			—		3,436
Operating income impact of operations sold		—			—			20			—			—		20
Equity in earnings of unconsolidated businesses		178			—			—			—			—		178
Income from other unconsolidated businesses		—			—			—			—			—		—
Other income and (expense), net		77			—			—			—			—		77
Interest expense		(528	)		—			—			—			—		(528	)
Minority interest		(711	)		—			—			—			—		(711	)
Income Before Provision for Income Taxes and Discontinued Operations		3,002			(530	)		—			—			—		2,472
Income tax benefit (provision)		(933	)		194			—			(242	)		232		(749	)
Income Before Discontinued Operations		2,069			(336	)		—			(242	)		232		1,723
Discontinued Operations
Income from operations		92			—			—			—			—		92
Provision for income taxes		(48	)		—			—			—			—		(48	)
Income on discontinued operations		44			—			—			—			—		44
Net Income	$	2,113		$	(336	)	$	—		$	(242	)	$	232	$	1,767
Basic Earnings per Common Share(1)
Income before discontinued operations	$	.75		$	(.12	)	$	—		$	(.09	)	$	.08	$	.62
Income on discontinued operations, net of tax	$	.02		$	—		$	—		$	—		$	—	$	.02
Net income	$	.76		$	(.12	)	$	—		$	(.09	)	$	.08	$	.64
Diluted Earnings per Common Share(1)
Income before discontinued operations	$	.74		$	(.12	)	$	—		$	(.09	)	$	.08	$	.62
Income on discontinued operations, net of tax	$	.02		$	—		$	—		$	—		$	—	$	.02
Net income	$	.75		$	(.12	)	$	—		$	(.09	)	$	.08	$	.63

Footnote:

(1) EPS totals may not add due to rounding.

Verizon Communications Inc.	Exhibit 99.2
Consolidated Statements of Income-Reconciliations	(cont’d)

Restated for Discontinued Operations

For the Quarter Ended September 30, 2005

							(dollars in millions, except per share amounts)
				Special and Non-Recurring Items
Unaudited	3 Mos. Ended 9/30/05 Reported (GAAP)			Verizon Center Relocation, Net			Lease Impairment and Other Special Items			Tax Benefits			Tax on Repatriated Earnings			3 Mos. Ended 9/30/05 Before Special Items
Operating Revenues	$	18,486		$	—		$	—		$	—		$	—		$	18,486
Operating Expenses
Cost of services and sales		6,361			—			—			—			—			6,361
Selling, general & administrative expense		5,195			64			(125	)		—			—			5,134
Depreciation and amortization expense		3,433			—			—			—			—			3,433
Total Operating Expenses		14,989			64			(125	)		—			—			14,928
Operating Income		3,497			(64	)		125			—			—			3,558
Equity in earnings of unconsolidated businesses		182			—			—			—			—			182
Income from other unconsolidated businesses		1			—			—			—			—			1
Other income and (expense), net		87			—			10			—			—			97
Interest expense		(525	)		—			—			—			—			(525	)
Minority interest		(748	)		—			—			—			—			(748	)
Income Before Provision for Income Taxes and Discontinued Operations		2,494			(64	)		135			—			—			2,565
Provision for income taxes		(702	)		27			(4	)		(94	)		(21	)		(794	)
Income Before Discontinued Operations		1,792			(37	)		131			(94	)		(21	)		1,771
Discontinued Operations
Income from operations		113			—			—			—			—			113
Provision for income taxes		(36	)		—			—			—			—			(36	)
Income on discontinued operations		77			—			—			—			—			77
Net Income	$	1,869		$	(37	)	$	131		$	(94	)	$	(21	)	$	1,848
Basic Earnings per Common Share(1)
Income before discontinued operations	$	.65		$	(.01	)	$	.05		$	(.03	)	$	(.01	)	$	.64
Income on discontinued operations, net of tax	$	.03		$	—		$	—		$	—		$	—		$	.03
Net income	$	.68		$	(.01	)	$	.05		$	(.03	)	$	(.01	)	$	.67
Diluted Earnings per Common Share(1)
Income before discontinued operations	$	.64		$	(.01	)	$	.05		$	(.03	)	$	(.01	)	$	.63
Income on discontinued operations, net of tax	$	.03		$	—		$	—		$	—		$	—		$	.03
Net income	$	.67		$	(.01	)	$	.05		$	(.03	)	$	(.01	)	$	.66

Footnote:

(1) EPS totals may not add due to rounding.

For the Quarter Ended December 31, 2005

										(dollars in millions, except per share amounts)
				Special and Non-Recurring Items
Unaudited	3 Mos. Ended 12/31/05 Reported (GAAP)			Verizon Center Relocation, Net			Pension and Benefit Charges			Severance			Other Special Items			Tax on Repatriated Earnings			3 Mos. Ended 12/31/05 Before Special Items
Operating Revenues	$	18,771		$	—		$	—		$	—		$	—		$	—		$	18,771
Operating Expenses
Cost of services and sales		6,393			—			—			—			—			—			6,393
Selling, general & administrative expense		5,322			(46	)		(98	)		(59	)		—			—			5,119
Depreciation and amortization expense		3,489			—			—			—			—			—			3,489
Total Operating Expenses		15,204			(46	)		(98	)		(59	)		—			—			15,001
Operating Income		3,567			46			98			59			—			—			3,770
Equity in earnings of unconsolidated businesses		133			—			—			—			—			—			133
Income from other unconsolidated businesses		35			—			—			—			—			—			35
Other income and (expense), net		(12	)		—						—			4			—			(8	)
Interest expense		(528	)		—			—			—			—			—			(528	)
Minority interest		(939	)		—			—			—			—			—			(939	)
Income Before Provision for Income Taxes and Discontinued Operations		2,256			46			98			59			4			—			2,463
Provision for income taxes		(688	)		(17	)		(39	)		(23	)		(2	)		(5	)		(774	)
Income Before Discontinued Operations		1,568			29			59			36			2			(5	)		1,689
Discontinued Operations
Income from operations		114			—			—			—			—			—			114
Provision for income taxes		(24	)		—			—			—			—			—			(24	)
Income on discontinued operations		90			—			—			—			—			—			90
Net Income	$	1,658		$	29		$	59		$	36		$	2		$	(5	)	$	1,779
Basic Earnings per Common Share(1)
Income before discontinued operations	$	.57		$	.01		$	.02		$	.01		$	—		$	—		$	.61
Income on discontinued operations, net of tax	$	.03		$	—		$	—		$	—		$	—		$	—		$	.03
Net income	$	.60		$	.01		$	.02		$	.01		$	—		$	—		$	.64
Diluted Earnings per Common Share(1)
Income before discontinued operations	$	.56		$	.01		$	.02		$	.01		$	—		$	—		$	.61
Income on discontinued operations, net of tax	$	.03		$	—		$	—		$	—		$	—		$	—		$	.03
Net income	$	.59		$	.01		$	.02		$	.01		$	—		$	—		$	.64

Footnote:

(1) EPS totals may not add due to rounding.