EX-12 3 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

 

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries

 

(Dollars in Millions)    Three Months Ended
March 31, 2006
 


Income before provision for income taxes

   $  2,551  

Minority interest

   946  

Equity in earnings of unconsolidated businesses

   (186 )

Dividends from unconsolidated businesses

   18  

Interest expense

   649  

Portion of rent expense representing interest

   202  

Amortization of capitalized interest

   27  
    

Income, as adjusted

   $  4,207  
    

Fixed charges:

      

Interest expense

   $     649  

Portion of rent expense representing interest

   202  

Capitalized interest

   108  

Preferred stock dividend requirement (1)

   2  
    

Fixed charges

   $     961  
    

Ratio of earnings to fixed charges

   4.38  
    

 

(1)

On January 15, 2006, Verizon redeemed $100 million Verizon International Holding Ltd. Series A variable term voting cumulative preferred stock and paid its last dividend of $1.4 million.