Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - VERIZON COMMUNICATIONS INC | d820819d10k.htm |
| EXCEL - IDEA: XBRL DOCUMENT - VERIZON COMMUNICATIONS INC | Financial_Report.xls |
| EX-13 - EXHIBIT 13 - VERIZON COMMUNICATIONS INC | d820819dex13.htm |
| EX-31.1 - EXHIBIT 31.1 - VERIZON COMMUNICATIONS INC | d820819dex311.htm |
| EX-21 - EXHIBIT 21 - VERIZON COMMUNICATIONS INC | d820819dex21.htm |
| EX-10.Q - EXHIBIT 10Q - VERIZON COMMUNICATIONS INC | d820819dex10q.htm |
| EX-32.2 - EXHIBIT 32.2 - VERIZON COMMUNICATIONS INC | d820819dex322.htm |
| EX-31.2 - EXHIBIT 31.2 - VERIZON COMMUNICATIONS INC | d820819dex312.htm |
| EX-32.1 - EXHIBIT 32.1 - VERIZON COMMUNICATIONS INC | d820819dex321.htm |
| EX-23 - EXHIBIT 23 - VERIZON COMMUNICATIONS INC | d820819dex23.htm |
EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
Verizon Communications Inc. and Subsidiaries
| (dollars in millions) | ||||||||||||||||||||
| Years Ended December 31, | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
| Earnings: |
||||||||||||||||||||
| Income before (provision) benefit for income taxes |
$ | 15,270 | $ | 29,277 | $ | 9,897 | $ | 10,483 | $ | 12,684 | ||||||||||
| Equity in earnings of unconsolidated businesses |
(1,780 | ) | (142 | ) | (324 | ) | (444 | ) | (508 | ) | ||||||||||
| Dividends from unconsolidated businesses |
37 | 40 | 401 | 480 | 510 | |||||||||||||||
| Interest expense (1) |
4,915 | 2,667 | 2,571 | 2,827 | 2,523 | |||||||||||||||
| Portion of rent expense representing interest |
912 | 851 | 837 | 817 | 837 | |||||||||||||||
| Amortization of capitalized interest |
191 | 177 | 162 | 148 | 139 | |||||||||||||||
|
|
|
|||||||||||||||||||
| Earnings, as adjusted |
$ | 19,545 | $ | 32,870 | $ | 13,544 | $ | 14,311 | $ | 16,185 | ||||||||||
|
|
|
|||||||||||||||||||
| Fixed Charges: |
||||||||||||||||||||
| Interest expense (1) |
$ | 4,915 | $ | 2,667 | $ | 2,571 | $ | 2,827 | $ | 2,523 | ||||||||||
| Portion of rent expense representing interest |
912 | 851 | 837 | 817 | 837 | |||||||||||||||
| Capitalized interest |
376 | 754 | 406 | 442 | 964 | |||||||||||||||
|
|
|
|||||||||||||||||||
| Fixed charges |
$ | 6,203 | $ | 4,272 | $ | 3,814 | $ | 4,086 | $ | 4,324 | ||||||||||
|
|
|
|||||||||||||||||||
| Ratio of earnings to fixed charges |
3.15 | 7.69 | 3.55 | 3.50 | 3.74 | |||||||||||||||
|
|
|
|||||||||||||||||||
| (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. |