Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - VERIZON COMMUNICATIONS INC | d296602dex322.htm |
| EX-32.1 - EX-32.1 - VERIZON COMMUNICATIONS INC | d296602dex321.htm |
| EX-31.2 - EX-31.2 - VERIZON COMMUNICATIONS INC | d296602dex312.htm |
| EX-31.1 - EX-31.1 - VERIZON COMMUNICATIONS INC | d296602dex311.htm |
| EX-23 - EX-23 - VERIZON COMMUNICATIONS INC | d296602dex23.htm |
| EX-21 - EX-21 - VERIZON COMMUNICATIONS INC | d296602dex21.htm |
| EX-13 - EX-13 - VERIZON COMMUNICATIONS INC | d296602dex13.htm |
| 10-K - 10-K - VERIZON COMMUNICATIONS INC | d296602d10k.htm |
EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
Verizon Communications Inc. and Subsidiaries
| (dollars in millions) | ||||||||||||||||||||
| Years Ended December 31, | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
| Earnings: |
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| Income before (provision) benefit for income taxes |
$ | 20,986 | $ | 28,240 | $ | 15,270 | $ | 29,277 | $ | 9,897 | ||||||||||
| Equity in losses (earnings) of unconsolidated businesses |
98 | 86 | (1,780 | ) | (142 | ) | (324) | |||||||||||||
| Dividends from unconsolidated businesses |
40 | 41 | 37 | 40 | 401 | |||||||||||||||
| Interest expense (1) |
4,376 | 4,920 | 4,915 | 2,667 | 2,571 | |||||||||||||||
| Portion of rent expense representing interest |
1,201 | 1,051 | 912 | 851 | 837 | |||||||||||||||
| Amortization of capitalized interest |
187 | 191 | 191 | 177 | 162 | |||||||||||||||
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| Earnings, as adjusted |
$ | 26,888 | $ | 34,529 | $ | 19,545 | $ | 32,870 | $ | 13,544 | ||||||||||
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| Fixed Charges: |
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| Interest expense (1) |
$ | 4,376 | $ | 4,920 | $ | 4,915 | $ | 2,667 | $ | 2,571 | ||||||||||
| Portion of rent expense representing interest |
1,201 | 1,051 | 912 | 851 | 837 | |||||||||||||||
| Capitalized interest |
704 | 584 | 376 | 754 | 406 | |||||||||||||||
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| Fixed charges |
$ | 6,281 | $ | 6,555 | $ | 6,203 | $ | 4,272 | $ | 3,814 | ||||||||||
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| Ratio of earnings to fixed charges |
4.28 | 5.27 | 3.15 | 7.69 | 3.55 | |||||||||||||||
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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. |