EX-12 3 d741984dex12.htm EX-12 EX-12

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries

 

(dollars in millions)    Six Months Ended
June 30, 2014		  

Earnings:

   

Income before provision for income taxes

    $ 13,498  

Equity in earnings of unconsolidated businesses

      (1,859 ) 

Dividends from unconsolidated businesses

      18  

Interest expense (1)

      2,378  

Portion of rent expense representing interest

      440  

Amortization of capitalized interest

      94  
  

 

 

  

Earnings, as adjusted

    $ 14,569  
  

 

 

  

Fixed Charges:

   

Interest expense (1)

    $ 2,378  

Portion of rent expense representing interest

      440  

Capitalized interest

      248  
  

 

 

  

Fixed Charges

    $ 3,066  
  

 

 

  

Ratio of earnings to fixed charges

      4.75  
  

 

 

  

 

(1) 

We classify interest expense recognized on uncertain tax positions as income tax expense and therefore such interest expense is not included in the Ratio of Earnings to Fixed Charges.