BOSTON Jan 7 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.