Verizon Communications (VZ) 10-Q 2017 Q2 Quarterly report

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries

(dollars in millions)	Six Months Ended June 30, 2017
Earnings:
Income before provision for income taxes	$	12,149
Equity in losses of unconsolidated businesses		49
Dividends from unconsolidated businesses		18
Interest expense (1)		2,350
Portion of rent expense representing interest		605
Amortization of capitalized interest		97
Earnings, as adjusted	$	15,268
Fixed Charges:
Interest expense (1)	$	2,350
Portion of rent expense representing interest		605
Capitalized interest		342
Fixed charges	$	3,297
Ratio of earnings to fixed charges		4.63
(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.