EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
Verizon Communications Inc. and Subsidiaries
| (dollars in millions) | Six Months Ended June 30, 2014 |
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| Earnings: |
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| 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 | |||
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| Earnings, as adjusted |
$ | 14,569 | ||
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| Fixed Charges: |
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| Interest expense (1) |
$ | 2,378 | ||
| Portion of rent expense representing interest |
440 | |||
| Capitalized interest |
248 | |||
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| Fixed Charges |
$ | 3,066 | ||
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| Ratio of earnings to fixed charges |
4.75 | |||
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| (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. |