Exhibit 12

Computation of Ratio of Earnings to Fixed Charges
Verizon Communications Inc. and Subsidiaries

(Dollars in Millions)	Six Months Ended June 30, 2003
Income before provision for income taxes, discontinued operations and cumulative effect of accounting change		$	4,673
Minority interest			722
Equity in earnings of unconsolidated businesses			(315	)
Dividends from unconsolidated businesses			71
Interest expense			1,447
Portion of rent expense representing interest			208
Amortization of capitalized interest			50
Income, as adjusted		$	6,856
Fixed charges:
Interest expense		$	1,447
Portion of rent expense representing interest			208
Capitalized interest			68
Preferred stock dividend requirement			9
Fixed charges		$	1,732
Ratio of earnings to fixed charges			3.96