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Determine verizons fixed asset turnover ratio

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Fixed asset turnover ratio

Verizon Communications is a major telecommunications company in the United States.

Verizon's balance sheet disclosed the following information regarding fixed assets:

Dec. 31, 2009 (in millions)

Dec. 31, 2008 (in millions)

Plant, property, and equipment

$228,518

$215,605

Less accumulated depreciation

137,052

129,059

$ 91,466

$ 86,546

Verizon's revenue for 2009 was $107,808 million. The fixed asset turnover for the telecommunications industry averages 1.10.

a. Determine Verizon's fixed asset turnover ratio. Round to two decimal places.

b. Interpret Verizon's fixed asset turnover ratio.

Reference no: EM13533324

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