BOSTON (Reuters) - Verizon Communications Inc (VZ.N) 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.
Reporting by Jim Finkle; Editing by Gary Hill