SuperMedia 8K Regulation FD Disclosure | SPMD 16 Feb 07

Exhibit 99.1

IDEARC INC.

Reconciliation of Print Products Revenue (GAAP) to Published Print Revenue (non-GAAP)


													(dollars in millions)

Unaudited	3 Mos. Ended 3/31/06			3 Mos. Ended 6/30/06			3 Mos. Ended 9/30/06			3 Mos. Ended 12/31/06			12 Mos. Ended 12/31/06
Print Products Revenue (GAAP)	$	752		$	746		$	743		$	737		$	2,978
% Change year-over-year		-7.4	%		-6.1	%		-4.4	%		-3.5	%		-5.4	%
Less: Net difference in Published Print versus Amortized Revenue recognition methodology		51			(24	)		166			(123	)		70

Published Print Revenue (non-GAAP)⁽¹⁾	$	701		$	770		$	577		$	860		$	2,908
% Change year-over-year		-5.1	%		-2.5	%		-3.4	%		-1.0	%		-2.9	%

Unaudited	3 Mos. Ended 3/31/05			3 Mos. Ended 6/30/05			3 Mos. Ended 9/30/05			3 Mos. Ended 12/31/05			12 Mos. Ended 12/31/05
Print Products Revenue (GAAP)	$	812		$	794		$	777		$	764		$	3,147
% Change year-over-year		-4.3	%		-4.8	%		-5.6	%		-6.0	%		-5.2	%
Less: Net difference in Published Print versus Amortized Revenue recognition methodology		73			4			180			(104	)		153

Published Print Revenue (non-GAAP)⁽¹⁾	$	739		$	790		$	597		$	868		$	2,994
% Change year-over-year		-5.0	%		-4.9	%		-5.2	%		-6.8	%		-5.6	%

Unaudited	3 Mos. Ended 3/31/04			3 Mos. Ended 6/30/04			3 Mos. Ended 9/30/04			3 Mos. Ended 12/31/04			12 Mos. Ended 12/31/04
Print Products Revenue (GAAP)	$	848		$	834		$	823		$	813		$	3,318
Less: Net difference in Published Print versus Amortized Revenue recognition methodology		70			3			193			(119	)		147

Published Print Revenue (non-GAAP)⁽¹⁾	$	778		$	831		$	630		$	932		$	3,171

(1)

Published print revenue represents the total revenue value of directories published that will be amortized over the life of the directories, which is typically 12 months. The directories for 2006 above are aligned by the quarter in which they were published. Directories from preceeding periods have been aligned to match the publication schedule of 2006 publications, allowing for a meaningful comparison of current publications to previous publications. In 2006 there were several directories that were rescheduled from 2006 to 2007, the published value of which is not reflected in the numbers above. In 2007, when these directories publish, 2006 and prior years will be adjusted to provide meaningful year-over-year comparisons.

IDEARC INC.

Consolidated Statements of Income - Reconciliation from Reported (GAAP) to Pro Forma (Non-GAAP)


							(dollars in millions, except per share amounts)
				Pro Forma Items
Unaudited	12 Mos. Ended 12/31/05 Reported (GAAP)			Pension OPEB Reduction⁽³⁾			Printing Contract⁽⁴⁾			Hawaii Operations ⁽⁵⁾			Debt⁽⁶⁾			12 Mos. Ended 12/31/05 Pro Forma (Non-GAAP)
Operating Revenue
Print products	$	3,147		$	—		$	—		$	(22	)	$	—		$	3,125
Internet		197			—			—			—			—			197
Other		30			—			(24	)		—			—			6

Total Operating Revenue		3,374			—			(24	)		(22	)		—			3,328

Operating Expense
Selling		646			(25	)		—			(2	)		—			619
Cost of sales (exclusive of depreciation and amortization)		622			(9	)		(43	)		(2	)		—			568
General and administrative		374			(6	)		—			(2	)		—			366
Depreciation and amortization		91			—			—			—			—			91

Total Operating Expense		1,733			(40	)		(43	)		(6	)		—			1,644

Operating Income		1,641			40			19			(16	)		—			1,684
Interest expense (income), net		(16	)		—			—			—			718			702

Income Before Provision for Income Taxes		1,657			40			19			(16	)		(718	)		982
Provision for income taxes		632			16			7			(6	)		(280	)		369

Net Income	$	1,025		$	24		$	12		$	(10	)	$	(438	)	$	613

Basic and Diluted Earnings per Share ⁽¹⁾	$	7.03		$	.16		$	.08		$	(.07	)	$	(3.00	)	$	4.20

Operating Income	$	1,641		$	40		$	19		$	(16	)	$	—		$	1,684
Depreciation and Amortization		91			—			—			—			—			91

OIBITDA (non-GAAP) ⁽²⁾	$	1,732		$	40		$	19		$	(16	)	$	—		$	1,775

OIBITDA (non-GAAP) margin ⁽²⁾		51.3	%														53.3	%

Notes:

⁽¹⁾	The number of shares issued for the spin-off of Idearc on November 17, 2006 was approximately 146 million. For basic and diluted earnings per share calculations it was assumed that approximately 146 million shares were outstanding for the entire period.

⁽²⁾	OIBITDA is a non-GAAP measure that represents Operating Income Before Interest, Taxes, Depreciation, and Amortization. OIBITDA margin is calculated by dividing OIBITDA by total operating revenue.

⁽³⁾

On-going net pension and OPEB expenses are expected to be reduced, primarily as a result of the 414(l) pension asset transfer from the Verizon Pension Plan as the result of the Idearc spin-off from Verizon. This pro forma adjustment is to reflect the expected on-going pension and OPEB cost levels during this historical period.

⁽⁴⁾	Idearc entered into a new printing contract with R.R. Donnelley and Sons in 2006. This pro forma adjustment is to reflect the impact of exiting the commercial print business ($24 million in revenue and $22 million in costs) and a reduction in printing cost rates during this historical period.

⁽⁵⁾	Reflects the elimination of Hawaii operations, due to its sale in May 2005.

⁽⁶⁾	As a result of the spin on November 17, 2006, Idearc now has $9.1 billion of debt and will incur interest expense that it did not incur in the past. This pro forma adjustment is to reflect the ongoing interest expense levels during this historical period.

IDEARC INC.

Consolidated Statements of Income—Reported (GAAP)


							(dollars in millions, except per share amounts)

Unaudited	3 Mos. Ended 3/31/06			3 Mos. Ended 6/30/06			3 Mos. Ended 9/30/06			3 Mos. Ended 12/31/06		12 Mos. Ended 12/31/06
Operating Revenue
Print products	$	752		$	746		$	743		$	737	$	2,978
Internet		52			55			60			63		230
Other		9			1			2			1		13

Total Operating Revenue		813			802			805			801		3,221

Operating Expense
Selling		171			194			168			199		732
Cost of sales (exclusive of depreciation and amortization)		162			163			149			155		629
General and administrative		99			99			88			162		448
Depreciation and amortization		23			21			23			22		89

Total Operating Expense		455			477			428			538		1,898
Operating Income		358			325			377			263		1,323
Interest expense (income), net		(6	)		(7	)		(8	)		81		60

Income Before Provision for Income Taxes		364			332			385			182		1,263
Provision for income taxes		141			130			137			83		491

Net Income	$	223		$	202		$	248		$	99	$	772

Basic and Diluted Earnings per Share⁽¹⁾	$	1.53		$	1.38		$	1.70		$	.68	$	5.29
Weighted average number of common shares (in millions)		146			146			146			146		146

Notes:

⁽¹⁾

The number of shares issued for the spin-off of Idearc on November 17, 2006 was approximately 146 million. For basic and diluted earnings per share calculations it was assumed that approximately 146 million shares were outstanding for the entire period. No additional shares were issued through December 31, 2006.

IDEARC INC.

Consolidated Statements of Income—Pro Forma (Non-GAAP)⁽²⁾


					(dollars in millions, except per share amounts)

Unaudited	3 Mos. Ended 3/31/06		3 Mos. Ended 6/30/06		3 Mos. Ended 9/30/06		3 Mos. Ended 12/31/06		12 Mos. Ended 12/31/06
Operating Revenue
Print products	$	752	$	746	$	743	$	737	$	2,978
Internet		52		55		60		63		230
Other		2		1		2		1		6

Total Operating Revenue		806		802		805		801		3,214

Operating Expense
Selling		163		186		163		194		706
Cost of sales (exclusive of depreciation and amortization)		147		153		142		151		593
General and administrative		97		97		91		93		378
Depreciation and amortization		23		21		23		22		89

Total Operating Expense		430		457		419		460		1,766
Operating Income		376		345		386		341		1,448
Interest expense (income), net		175		176		175		176		702

Income Before Provision for Income Taxes		201		169		211		165		746
Provision for income taxes		78		67		68		68		281

Net Income	$	123	$	102	$	143	$	97	$	465

Basic and Diluted Earnings per Share⁽¹⁾	$	.84	$	.70	$	.98	$	.67	$	3.19
Weighted average number of common shares (in millions)		146		146		146		146		146

Notes:

⁽¹⁾

⁽²⁾	In the following schedules you will find reconciliations from reported (GAAP) results to pro forma (non-GAAP) for each of the quarters presented above.

IDEARC INC.

Consolidated Statements of Income - Reconciliation from Reported (GAAP) to Adjusted (Non-GAAP) and Pro Forma (Non-GAAP)


																(dollars in millions, except per share amounts)
				Non-Recurring Items									Pro Forma Items
Unaudited	12 Mos. Ended 12/31/06 Reported (GAAP)			Stock Based Compensation Charge⁽³⁾			Separation Costs⁽⁴⁾			12 Mos. Ended 12/31/06 Adjusted (Non- GAAP)			Pension OPEB Reduction⁽⁵⁾			Printing Contract⁽⁶⁾			Debt ⁽⁷⁾			12 Mos. Ended 12/31/06 Pro Forma (Non- GAAP)
Operating Revenue
Print products	$	2,978		$	—		$	—		$	2,978		$	—		$	—		$	—		$	2,978
Internet		230			—			—			230			—			—			—			230
Other		13			—			—			13			—			(7	)		—			6

Total Operating Revenue		3,221			—			—			3,221			—			(7	)		—			3,214

Operating Expense
Selling		732			—			—			732			(26	)		—			—			706
Cost of sales (exclusive of depreciation and amortization)		629			—			—			629			(8	)		(28	)		—			593
General and administrative		448			(39	)		(30	)		379			(1	)		—			—			378
Depreciation and amortization		89			—			—			89			—			—			—			89

Total Operating Expense		1,898			(39	)		(30	)		1,829			(35	)		(28	)		—			1,766

Operating Income		1,323			39			30			1,392			35			21			—			1,448
Interest expense (income), net		60			—			—			60			—			—			642			702

Income Before Provision for Income Taxes		1,263			39			30			1,332			35			21			(642	)		746
Provision for income taxes		491			15			4			510			13			8			(250	)		281

Net Income	$	772		$	24		$	26		$	822		$	22		$	13		$	(392	)	$	465

Basic and Diluted Earnings per Share ⁽¹⁾	$	5.29		$	.17		$	.18		$	5.64		$	.15		$	.09		$	(2.69	)	$	3.19

Operating Income	$	1,323		$	39		$	30		$	1,392		$	35		$	21		$	—		$	1,448
Depreciation and Amortization		89			—			—			89			—			—			—			89

OIBITDA (non-GAAP) ⁽²⁾	$	1,412		$	39		$	30		$	1,481		$	35		$	21		$	—		$	1,537

OIBITDA (non-GAAP) margin ⁽²⁾		43.8	%								46.0	%											47.8	%

Notes:

⁽¹⁾

⁽²⁾	OIBITDA is a non-GAAP measure that represents Operating Income Before Interest, Taxes, Depreciation, and Amortization. OIBITDA margin is calculated by dividing OIBITDA by total operating revenue.

⁽³⁾	The stock-based compensation charge reflects a one-time adjustment to record stock compensation expense of $39 million associated with Verizon stock-based compensation and other stock-based awards that vested at the time of spin.

⁽⁴⁾	Separation costs are non-recurring costs associated with becoming a stand-alone entity as a result of the spin-off from Verizon.

⁽⁵⁾

⁽⁶⁾	Reflects the impact of entering into a new printing contract with R.R. Donnelley and Sons which resulted in exiting the commercial printing business ($7 million in revenue and $4 million in costs) and a reduction in printing cost rates.

⁽⁷⁾	As a result of the spin on November 17, 2006, Idearc now has $9.1 billion of debt and will incur interest expense that it did not incur in the past. This pro forma adjustment is to reflect the ongoing interest expense levels during this historical period.

IDEARC INC.

Consolidated Statements of Income - Reconciliation from Reported (GAAP) to Adjusted (Non-GAAP) and Pro Forma (Non-GAAP)


											(dollars in millions, except per share amounts)
				Non-Recurring Items							Pro Forma Items
Unaudited	3 Mos. Ended 3/31/06 Reported (GAAP)			Stock Based Compensation Charge⁽³⁾		Separation Costs⁽⁴⁾		3 Mos. Ended 3/31/06 Adjusted (Non- GAAP)			Pension OPEB Reduction⁽⁵⁾			Printing Contract⁽⁶⁾			Debt ⁽⁷⁾			3 Mos. Ended 3/31/06 Pro Forma (Non- GAAP)
Operating Revenue
Print products	$	752		$	—	$	—	$	752		$	—		$	—		$	—		$	752
Internet		52			—		—		52			—			—			—			52
Other		9			—		—		9			—			(7	)		—			2

Total Operating Revenue		813			—		—		813			—			(7	)		—			806

Operating Expense
Selling		171			—		—		171			(8	)		—			—			163
Cost of sales (exclusive of depreciation and amortization)		162			—		—		162			(2	)		(13	)		—			147
General and administrative		99			—		—		99			(2	)		—			—			97
Depreciation and amortization		23			—		—		23			—			—			—			23

Total Operating Expense		455			—		—		455			(12	)		(13	)		—			430

Operating Income		358			—		—		358			12			6			—			376
Interest expense (income), net		(6	)		—		—		(6	)		—			—			181			175

Income Before Provision for Income Taxes		364			—		—		364			12			6			(181	)		201
Provision for income taxes		141			—		—		141			4			3			(70	)		78

Net Income	$	223		$	—	$	—	$	223		$	8		$	3		$	(111	)	$	123

Basic and Diluted Earnings per Share ⁽¹⁾	$	1.53		$	—	$	—	$	1.53		$	.05		$	.02		$	(.76	)	$	.84

Operating Income	$	358		$	—	$	—	$	358		$	12		$	6		$	—		$	376
Depreciation and Amortization		23			—		—		23			—			—			—			23

OIBITDA (non-GAAP) ⁽²⁾	$	381		$	—	$	—	$	381		$	12		$	6		$	—		$	399

OIBITDA (non-GAAP) margin ⁽²⁾		46.9	%						46.9	%											49.5	%

Notes:

⁽¹⁾

⁽²⁾	OIBITDA is a non-GAAP measure that represents Operating Income Before Interest, Taxes, Depreciation, and Amortization. OIBITDA margin is calculated by dividing OIBITDA by total operating revenue.

⁽³⁾	The stock-based compensation charge reflects a one-time adjustment to record stock compensation expense associated with Verizon stock-based compensation and other stock-based awards that vested at the time of spin.

⁽⁴⁾	Separation costs are non-recurring costs associated with becoming a stand-alone entity as a result of the spin-off from Verizon.

⁽⁵⁾

⁽⁶⁾	Reflects the impact of entering into a new printing contract with R.R. Donnelley and Sons which resulted in exiting the commercial printing business ($7 million in revenue and $4 million in costs) and a reduction in printing cost rates.

⁽⁷⁾	As a result of the spin on November 17, 2006, Idearc now has $9.1 billion of debt and will incur interest expense that it did not incur in the past. This pro forma adjustment is to reflect the ongoing interest expense levels during this historical period.

IDEARC INC.

Consolidated Statements of Income - Reconciliation from Reported (GAAP) to Adjusted (Non-GAAP) and Pro Forma (Non-GAAP)


														(dollars in millions, except per share amounts)
				Non-Recurring Items							Pro Forma Items
Unaudited	3 Mos. Ended 6/30/06 Reported (GAAP)			Stock Based Compensation Charge⁽³⁾		Separation Costs⁽⁴⁾		3 Mos. Ended 6/30/06 Adjusted (Non- GAAP)			Pension OPEB Reduction⁽⁵⁾			Printing Contract⁽⁶⁾			Debt⁽⁷⁾			3 Mos. Ended 6/30/06 Pro Forma (Non- GAAP)
Unaudited	3 Mos. Ended 6/30/06 Reported (GAAP)			Stock Based Compensation Charge⁽³⁾		Separation Costs⁽⁴⁾		3 Mos. Ended 6/30/06 Adjusted (Non- GAAP)			Pension OPEB Reduction⁽⁵⁾			Printing Contract⁽⁶⁾			Debt⁽⁷⁾
Operating Revenue
Print products	$	746		$	—	$	—	$	746		$	—		$	—		$	—		$	746
Internet		55			—		—		55			—			—			—			55
Other		1			—		—		1			—			—			—			1

Total Operating Revenue		802			—		—		802			—			—			—			802

Operating Expense
Selling		194			—		—		194			(8	)		—			—			186
Cost of sales (exclusive of depreciation and amortization)		163			—		—		163			(2	)		(8	)		—			153
General and administrative		99			—		—		99			(2	)		—			—			97
Depreciation and amortization		21			—		—		21			—			—			—			21

Total Operating Expense		477			—		—		477			(12	)		(8	)		—			457

Operating Income		325			—		—		325			12			8			—			345
Interest expense (income), net		(7	)		—		—		(7	)		—			—			183			176

Income Before Provision for Income Taxes		332			—		—		332			12			8			(183	)		169
Provision for income taxes		130			—		—		130			5			3			(71	)		67

Net Income	$	202		$	—	$	—	$	202		$	7		$	5		$	(112	)	$	102

Basic and Diluted Earnings per Share ⁽¹⁾	$	1.38		$	—	$	—	$	1.38		$	.05		$	.04		$	(.77	)	$	.70

Operating Income	$	325		$	—	$	—	$	325		$	12		$	8		$	—		$	345
Depreciation and Amortization		21			—		—		21			—			—			—			21

OIBITDA (non-GAAP) ⁽²⁾	$	346		$	—	$	—	$	346		$	12		$	8		$	—		$	366

OIBITDA (non-GAAP) margin ⁽²⁾		43.1	%						43.1	%											45.6	%

Notes:

⁽¹⁾

⁽²⁾	OIBITDA is a non-GAAP measure that represents Operating Income Before Interest, Taxes, Depreciation, and Amortization. OIBITDA margin is calculated by dividing OIBITDA by total operating revenue.

⁽³⁾	The stock-based compensation charge reflects a one-time adjustment to record stock compensation expense associated with Verizon stock-based compensation and other stock-based awards that vested at the time of spin.

⁽⁴⁾	Separation costs are non-recurring costs associated with becoming a stand-alone entity as a result of the spin-off from Verizon.

⁽⁵⁾

⁽⁶⁾	Reflects the impact of entering into a new printing contract with R.R. Donnelley and Sons which resulted in a reduction in printing cost rates.

⁽⁷⁾	As a result of the spin on November 17, 2006, Idearc now has $9.1 billion of debt and will incur interest expense that it did not incur in the past. This pro forma adjustment is to reflect the ongoing interest expense levels during this historical period.

IDEARC INC.

Consolidated Statements of Income - Reconciliation from Reported (GAAP) to Adjusted (Non-GAAP) and Pro Forma (Non-GAAP)


															(dollars in millions, except per share amounts)
				Non-Recurring Items								Pro Forma Items
Unaudited	3 Mos. Ended 9/30/06 Reported (GAAP)			Stock Based Compensation Charge⁽³⁾		Separation Costs⁽⁴⁾			3 Mos. Ended 9/30/06 Adjusted (Non- GAAP)			Pension OPEB Reduction⁽⁵⁾			Printing Contract⁽⁶⁾			Debt ⁽⁷⁾			3 Mos. Ended 9/30/06 Pro Forma (Non- GAAP)
Operating Revenue
Print products	$	743		$	—	$	—		$	743		$	—		$	—		$	—		$	743
Internet		60			—		—			60			—			—			—			60
Other		2			—		—			2			—			—			—			2

Total Operating Revenue		805			—		—			805			—			—			—			805

Operating Expense
Selling		168			—		—			168			(5	)		—			—			163
Cost of sales (exclusive of depreciation and amortization)		149			—		—			149			(3	)		(4	)		—			142
General and administrative		88			—		(2	)		86			5			—			—			91
Depreciation and amortization		23			—		—			23			—			—			—			23

Total Operating Expense		428			—		(2	)		426			(3	)		(4	)		—			419

Operating Income		377			—		2			379			3			4			—			386
Interest expense (income), net		(8	)		—		—			(8	)		—			—			183			175

Income Before Provision for Income Taxes		385			—		2			387			3			4			(183	)		211
Provision for income taxes		137			—		1			138			1			1			(72	)		68

Net Income	$	248		$	—	$	1		$	249		$	2		$	3		$	(111	)	$	143

Basic and Diluted Earnings per Share ⁽¹⁾	$	1.70		$	—	$	.01		$	1.71		$	.01		$	.02		$	(.76	)	$	.98

Operating Income	$	377		$	—	$	2		$	379		$	3		$	4		$	—		$	386
Depreciation and Amortization		23			—		—			23			—			—			—			23

OIBITDA (non-GAAP) ⁽²⁾	$	400		$	—	$	2		$	402		$	3		$	4		$	—		$	409

OIBITDA (non-GAAP) margin ⁽²⁾		49.7	%							49.9	%											50.8	%

Notes:

⁽¹⁾

⁽²⁾	OIBITDA is a non-GAAP measure that represents Operating Income Before Interest, Taxes, Depreciation, and Amortization. OIBITDA margin is calculated by dividing OIBITDA by total operating revenue.

⁽³⁾	The stock-based compensation charge reflects a one-time adjustment to record stock compensation expense associated with Verizon stock-based compensation and other stock-based awards that vested at the time of spin.

⁽⁴⁾	Separation costs are non-recurring costs associated with becoming a stand-alone entity as a result of the spin-off from Verizon.

⁽⁵⁾

⁽⁶⁾	Reflects the impact of entering into a new printing contract with R.R. Donnelley and Sons which resulted in a reduction in printing cost rates.

⁽⁷⁾	As a result of the spin on November 17, 2006, Idearc now has $9.1 billion of debt and will incur interest expense that it did not incur in the past. This pro forma adjustment is to reflect the ongoing interest expense levels during this historical period.

IDEARC INC.

Consolidated Statements of Income - Reconciliation from Reported (GAAP) to Adjusted (Non-GAAP) and Pro Forma (Non-GAAP)


										(dollars in millions, except per share amounts)
				Non-Recurring Items									Pro Forma Items
Unaudited	3 Mos. Ended 12/31/06 Reported (GAAP)			Stock Based Compensation Charge ⁽³⁾			Separation Costs ⁽⁴⁾			3 Mos. Ended 12/31/06 Adjusted (Non- GAAP)			Pension OPEB Reduction ⁽⁵⁾			Printing Contract ⁽⁶⁾			Debt ⁽⁷⁾			3 Mos. Ended 12/31/06 Pro Forma (Non- GAAP)
Operating Revenue
Print products	$	737		$	—		$	—		$	737		$	—		$	—		$	—		$	737
Internet		63			—			—			63			—			—			—			63
Other		1			—			—			1			—			—			—			1

Total Operating Revenue		801			—			—			801			—			—			—			801

Operating Expense
Selling		199			—			—			199			(5	)		—			—			194
Cost of sales (exclusive of depreciation and amortization)		155			—			—			155			(1	)		(3	)		—			151
General and administrative		162			(39	)		(28	)		95			(2	)		—			—			93
Depreciation and amortization		22			—			—			22			—			—			—			22

Total Operating Expense		538			(39	)		(28	)		471			(8	)		(3	)		—			460

Operating Income		263			39			28			330			8			3			—			341
Interest expense (income), net		81			—			—			81			—			—			95			176

Income Before Provision for Income Taxes		182			39			28			249			8			3			(95	)		165
Provision for income taxes		83			15			3			101			3			1			(37	)		68

Net Income	$	99		$	24		$	25		$	148		$	5		$	2		$	(58	)	$	97

Basic and Diluted Earnings per Share ⁽¹⁾	$	.68		$	.17		$	.17		$	1.02		$	.03		$	.01		$	(.40	)	$	.67

Operating Income	$	263		$	39		$	28		$	330		$	8		$	3		$	—		$	341
Depreciation and Amortization		22			—			—			22			—			—			—			22

OIBITDA (non-GAAP) ⁽²⁾	$	285		$	39		$	28		$	352		$	8		$	3		$	—		$	363

OIBITDA (non-GAAP) margin ⁽²⁾		35.6	%								43.9	%											45.3	%

Notes:

⁽¹⁾

⁽²⁾	OIBITDA is a non-GAAP measure that represents Operating Income Before Interest, Taxes, Depreciation, and Amortization. OIBITDA margin is calculated by dividing OIBITDA by total operating revenue.

⁽³⁾	The stock-based compensation charge reflects a one-time adjustment to record stock compensation expense of $39 million associated with Verizon stock-based compensation and other stock-based awards that vested at the time of spin.

⁽⁴⁾	Separation costs are non-recurring costs associated with becoming a stand-alone entity as a result of the spin-off from Verizon.

⁽⁵⁾

⁽⁶⁾	Reflects the impact of entering into a new printing contract with R.R. Donnelley and Sons which resulted in a reduction in printing cost rates.

⁽⁷⁾	As a result of the spin on November 17, 2006, Idearc now has $9.1 billion of debt and will incur interest expense that it did not incur in the past. This pro forma adjustment is to reflect the ongoing interest expense levels during this historical period.

SuperMedia (SPMD) Inactive 8-KRegulation FD Disclosure