EX-12 3 d89386ex12.txt RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Verizon Communications Inc. and Subsidiaries
(Dollars in Millions) SIX MONTHS ENDED JUNE 30, 2001 --------------------- ------------------------------ Income before provision for income taxes, extraordinary item and cumulative effect of change in accounting principle $1,854 Minority interest 307 Equity in loss from unconsolidated businesses 3,448 Dividends from unconsolidated businesses 95 Interest expense 1,830 Portion of rent expense representing interest 212 Amortization of capitalized interest 35 ------ Income, as adjusted $7,781 ====== Fixed charges: Interest expense $1,830 Portion of rent expense representing interest 212 Capitalized interest 177 Preferred stock dividend requirement 10 ------ Fixed charges $2,229 ====== Ratio of earnings to fixed charges 3.49 ======