EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
Verizon Communications Inc. and Subsidiaries
| (dollars in millions) | Six Months Ended June 30, 2017 |
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| Earnings: |
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| 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 | |||
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| Earnings, as adjusted |
$ | 15,268 | ||
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| Fixed Charges: |
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| Interest expense (1) |
$ | 2,350 | ||
| Portion of rent expense representing interest |
605 | |||
| Capitalized interest |
342 | |||
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| Fixed charges |
$ | 3,297 | ||
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| Ratio of earnings to fixed charges |
4.63 | |||
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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. |
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