Verizon Communications (VZ) 10-Q2018 Q2 Quarterly report

Filed: 31 Jul 18, 10:59am

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EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries



(dollars in millions)	Six Months Ended
	June 30,
	2018
Earnings:
Income before provision for income taxes	$	11,581
Equity in losses of unconsolidated businesses	247
Dividends from unconsolidated businesses	21
Interest expense ⁽¹⁾	2,423
Portion of rent expense representing interest	669
Amortization of capitalized interest	97
Earnings, as adjusted	$	15,038

Fixed Charges:
Interest expense ⁽¹⁾	$	2,423
Portion of rent expense representing interest	669
Capitalized interest	375
Fixed charges	$	3,467

Ratio of earnings to fixed charges	4.34

⁽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.