VZC Verizon Comms

RNS Number:3803A
Verizon Communications
26 August 2002


                               UNITED STATES

                    SECURITIES AND EXCHANGE COMMISSION

                          WASHINGTON, D.C. 20549

                                  FORM 8-K
 
                               CURRENT REPORT

   Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

                      Date of Report: August 21, 2002 
                     (Date of earliest event reported)

                         VERIZ0N COMMUNICATIONS INC. 
            (Exact name of registrant as specified in its charter)

                 Delaware                                  1-8606                  23-2259884
(State or other jurisdiction of incorporation)     (Commission File Number)   (I.R.S. Employer Identification)

1095 Avenue of the Americas,
New York, New York                                   10036
(Address of principal executive offices)          (zip code)


      Registrant's telephone number, including area code: (212) 395-2121

                                  Not applicable 
         (Former name or former address, if changed since last report)



Item 7. Financial Statements and Exhibits.

(c)     Exhibits.

        12   Computation of Ratio of Earnings to Fixed Charges.


                               SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned, thereunto duly authorized.


                                        Verizon Communications Inc.
                                             (Registrant) 

Date: August 21, 2002                   /s/ John F. Killian
                                        John F. Killian 
                                        Senior Vice President and Controller



                              EXHIBIT INDEX

Exhibit
Number     Description

12         Computation of Ratio of Earnings to Fixed Charges.



                                                  EXHIBIT 12

               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                  Verizon Communications Inc. and Subsidiaries

(Dollars in Millions)                            SIX MONTHS ENDED JUNE 30, 2002

Loss before provision for income taxes,                     $     (820)
extraordinary item and cumulative effect                           
of accounting change                                             
Minority interest                                                  556
Loss from unconsolidated businesses                              1,638
Dividends from unconsolidated businesses                           145
Interest expense                                                 1,612  
Portion of rent expense representing interest                      207
Amortization of capitalized interest                                42
                                                            
Income, as adjusted                                         $    3,380

Fixed charges
Interest expense                                            $    1,612
Portion of rent expense representing interest                      207
Capitalized interest                                               101
Preferred stock dividend requirement                                 5

Fixed charges                                               $    1,925

Ratio of earnings to fixed charges                                1.76

(1)     Excludes the write-down of cost method investments of $3,266 million in
        the six months ended June 30, 2002, which reduces loss before provision
        for income taxes, extraordinary item and cumulative effect of accounting 
        change.  The ratio of earnings to fixed charges would have been 3.45 if
        income, as adjusted, included the write-down of cost method investments.



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