Verizon sees $9 bln to $10 bln in one-time items for Q4

BOSTON Mon Jan 7, 2013 3:23pm EST

BOSTON Jan 7 (Reuters) - Verizon Communications Inc Chief Executive Lowell McAdam said that he expects his company to take $9 billion to $10 billion in one-time items when it reports fourth-quarter results.

He said Superstorm Sandy had about a $1 billion impact on Verizon's business, about a third of which was covered by insurance. He said the company will take charges of about $1.5 billion related to refinancing debt and about $7 billion related to pension liabilities.

He made the comments Monday at a Citi investment conference.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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