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VZ » Topics » Computation of Ratio of Earnings to Fixed Charges

This excerpt taken from the VZ 10-Q filed May 11, 2009.

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries

 

(dollars in millions)    Three Months Ended
March 31, 2009		  

Income before provision for income taxes

    $ 3,950  

Equity in earnings of unconsolidated businesses

      (128 )

Dividends from unconsolidated businesses

      11  

Interest expense

      925  

Portion of rent expense representing interest

      176  

Amortization of capitalized interest

      32  
        

Income, as adjusted

    $     4,966  
        

Fixed charges:

   

Interest expense

    $ 925  

Portion of rent expense representing interest

      176  

Capitalized interest

      235  
        

Fixed charges

    $ 1,336  
        

Ratio of earnings to fixed charges

      3.72  
        
This excerpt taken from the VZ 10-Q filed Oct 28, 2008.

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries

 

(dollars in millions)   

Nine Months Ended

September 30, 2008

  

Income before provision for income taxes

    $ 7,969  

Minority interest

      4,459  

Equity in earnings of unconsolidated businesses

      (458 )

Dividends from unconsolidated businesses

      761  

Interest expense

      1,302  

Portion of rent expense representing interest

      458  

Amortization of capitalized interest

      91  
        

Income, as adjusted

    $ 14,582  
        

Fixed charges:

   

Interest expense

    $ 1,302  

Portion of rent expense representing interest

      458  

Capitalized interest

      514  
        

Fixed charges

    $ 2,274  
        

Ratio of earnings to fixed charges

      6.41  
        
This excerpt taken from the VZ 10-Q filed Jul 29, 2008.

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries

 

(dollars in millions)   

Six Months Ended

June 30, 2008

  

Income before provision for income taxes

    $ 5,450  

Minority interest

      2,929  

Equity in earnings of unconsolidated businesses

      (247 )

Dividends from unconsolidated businesses

      754  

Interest expense

      862  

Portion of rent expense representing interest

      303  

Amortization of capitalized interest

      59  
        

Income, as adjusted

    $ 10,110  
        

Fixed charges:

   

Interest expense

    $ 862  

Portion of rent expense representing interest

      303  

Capitalized interest

      293  
        

Fixed charges

    $ 1,458  
        

Ratio of earnings to fixed charges

      6.93  
        
This excerpt taken from the VZ 10-Q filed Apr 29, 2008.

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries

 

(dollars in millions)

     
 		 Three Months Ended   
March 31, 2008   

Income before provision for income taxes, discontinued operations and extraordinary item

      $ 2,587   

Minority interest

      1,407   

Equity in earnings of unconsolidated businesses

      (97)  

Dividends from unconsolidated businesses

      7   

Interest expense

      459   

Portion of rent expense representing interest

      150   

Amortization of capitalized interest

      30   
      

Income, as adjusted

      $ 4,543   
      

Fixed charges:

   

Interest expense

      $ 459   

Portion of rent expense representing interest

      150   

Capitalized interest

      85   
      

Fixed charges

      $ 694   
      

Ratio of earnings to fixed charges

      6.55   
      
This excerpt taken from the VZ 10-Q filed Oct 30, 2007.

Computation of Ratio of Earnings to Fixed Charges

Verizon Communications Inc. and Subsidiaries

 

(dollars in millions)

     
 		 Nine Months Ended   
September 30, 2007   

Income before provision for income taxes, discontinued operations and extraordinary item

      $ 7,661   

Minority interest

      3,720   

Equity in earnings of unconsolidated businesses

      (492)  

Dividends from unconsolidated businesses

      224   

Interest expense (1)

      1,390   

Portion of rent expense representing interest

      415   

Amortization of capitalized interest

      86   
      

Income, as adjusted

      $ 13,004   
      

Fixed charges:

   

Interest expense (1)

      $ 1,390   

Portion of rent expense representing interest

      415   

Capitalized interest

      332   
      

Fixed charges

      $ 2,137   
      

Ratio of earnings to fixed charges

      6.09   
      

 

(1)

Verizon adopted FIN 48 on January 1, 2007 (see Note 3 of the Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q). Our policy is to classify interest expense recognized on uncertain tax positions as income tax expense. We have excluded interest expense recognized on uncertain tax positions from the Ratio of Earnings to Fixed Charges.

EXCERPTS ON THIS PAGE:

10-Q
May 11, 2009
10-Q
Oct 28, 2008
10-Q
Jul 29, 2008
10-Q
Apr 29, 2008
10-Q
Oct 30, 2007

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