Notes to Consolidated Financial Statements continued A reconciliation of the total of the reportable segments’ operating income to consolidated income before provision for income taxes is as follows: (dollars in millions) Years Ended December 31, 2017 2016 2015 Operating Income Total reportable segments $ 29,587 $ 29,559 $ 29,147 Corporate and other (1,409) (1,721) (1,720) Reconciling items: Severance, pension and benefit (charges) credits (Note 10) (1,391) (2,923) 2,256 Net gain on sale of divested businesses (Note 2) 1,774 1,007 Acquisition and integration related charges (Note 2) (884) Gain on spectrum license transactions (Note 2) 270 142 254 Operating results from divested businesses 149 995 3,123 Product realignment (682) Consolidated operating income 27,414 27,059 33,060 Equity in losses of unconsolidated businesses (77) (98) (86) Other income (expense), net (2,010) (1,599) 186 Interest expense (4,733) (4,376) (4,920) Income Before Benefit (Provision) For Income Taxes $ 20,594 $ 20,986 $ 28,240 A reconciliation of the total of the reportable segments’ assets to consolidated assets is as follows: (dollars in millions) At December 31, 2017 2016 Assets Total reportable segments $ 311,155 $ 278,024 Corporate and other 239,040 213,787 Eliminations (293,052) (247,631) Total consolidated $ 257,143 $ 244,180 No single customer accounted for more than 10% of our total operating revenues during the years ended December 31, 2017, 2016 and 2015. International operating revenues and long-lived assets are not significant. 2017 Annual Report | Verizon Communications Inc. and Subsidiaries 95
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