Verizon Hawaii Inc. EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Years Ended December 31, ----------------------------------------------------------------------------- (Dollars in Millions) 2001 2000 1999 1998 1997 - ----------------------------------------------------------------------------------------------------------------------------- Income before provision for income taxes $ 81.3 $135.1 $151.8 $101.3 $103.3 Equity in loss from affiliate 5.3 --- --- --- --- Interest expense 38.9 37.9 39.6 44.1 39.2 Portion of rent expense representing interest 2.6 4.1 3.5 4.3 4.8 Amortization of capitalized interest .2 .2 .2 .2 .1 ----------------------------------------------------------------------------- Earnings, as adjusted $128.3 $177.3 $195.1 $149.9 $147.4 ============================================================================= Fixed charges: Interest expense $ 38.9 $ 37.9 $ 39.6 $ 44.1 $ 39.2 Portion of rent expense representing interest 2.6 4.1 3.5 4.3 4.8 Capitalized interest .4 .5 .3 .6 2.0 ----------------------------------------------------------------------------- Fixed Charges $ 41.9 $ 42.5 $ 43.4 $ 49.0 $ 46.0 ============================================================================= Ratio of Earnings to Fixed Charges 3.06 4.17 4.50 3.06 3.20 =============================================================================