Verizon Communications (VZ) 10-Q 2015 Q3 Quarterly report

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries

(dollars in millions)	Nine Months Ended September 30, 2015
Earnings:
Income before provision for income taxes	$	19,662
Equity in losses of unconsolidated businesses		70
Dividends from unconsolidated businesses		28
Interest expense (1)		3,742
Portion of rent expense representing interest		772
Amortization of capitalized interest		142
Earnings, as adjusted	$	24,416
Fixed Charges:
Interest expense (1)	$	3,742
Portion of rent expense representing interest		772
Capitalized interest		405
Fixed charges	$	4,919
Ratio of earnings to fixed charges		4.96

⁽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.