SPRINT 10-Q2018 Q1 Quarterly report

Filed: 7 Aug 18, 3:27pm

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Removed: achieve, administered, aforementioned, alternative, Arizona, assistance, attractive, beneficiary, booster, Box, bundled, cable, canceled, civic, collecting, comparable, comparative, comparing, consistency, consolidate, creating, deactivated, demonstrated, densify, deployed, depreciate, detail, directory, diversity, drew, earliest, easier, element, elimination, establish, exchangeable, exchanged, exclusion, exercisable, exist, fuel, gained, historically, hubbing, identifying, improved, indefinite, innovative, instrument, iPhone, issuance, LeaseCo, Lessee, likelihood, located, maximize, MLS, nominal, obligor, operationalizing, optimal, optimization, optimizing, outset, par, parent, participating, predictable, primary, promoter, prospectively, realizable, realization, remarketing, removal, replenishment, repurchasing, reserve, responsibility, retailer, retaining, retrospectively, score, significantly, simplified, simplify, staggered, stay, stemming, substance, talent, team, tendered, tighten, today, touch, transformation, transforming, transportation, trended, unequal, Unlock, unrelated, winning

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Exhibit 12

Computation of Ratio of Earnings to Fixed Charges



	Successor																											Predecessor
	Three Months Ended June 30,						Year Ended March 31,												Three Months Ended March 31,						Year Ended December 31,			191 Days Ended July 10,			Three Months Ended March 31,
	2018			2017			2018			2017			2016			2015			2014			2013			2013			2013			2013
	(in millions)
Earnings (loss):
Income (loss) from continuing operations before income taxes	$	220		$	498		$	303		$	(771	)	$	(1,854	)	$	(3,919	)	$	(95	)	$	(8	)	$	(1,815	)	$	443		$	(605	)
Equity in losses of unconsolidated investments, net	5			3			73			2			—			—			—			—			—			482			202
Fixed charges	883			845			3,304			3,561			3,212			2,969			747			—			1,367			1,501			608
Interest capitalized	(15		)	(15		)	(55		)	(44		)	(51		)	(56		)	(13		)	—			(30		)	(29		)	(15		)
Amortization of interest capitalized	33			33			130			131			133			133			33			—			56			71			33
Earnings (loss), as adjusted	$	1,126		$	1,364		$	3,755		$	2,879		$	1,440		$	(873	)	$	672		$	(8	)	$	(422	)	$	2,468		$	223
Fixed charges:
Interest expense	$	637		$	613		$	2,365		$	2,495		$	2,182		$	2,051		$	516		$	—		$	918		$	1,135		$	432
Interest capitalized	15			15			55			44			51			56			13			—			30			29			15
Portion of rentals representative of interest	231			217			884			1,022			979			862			218			—			419			337			161
Fixed charges	$	883		$	845		$	3,304		$	3,561		$	3,212		$	2,969		$	747		$	—		$	1,367		$	1,501		$	608
Ratio of earnings to fixed charges	1.3			1.6			1.1			— ⁽¹⁾			— ⁽²⁾			— ⁽³⁾			— ⁽⁴⁾			— ⁽⁵⁾			— ⁽⁶⁾			1.6 ⁽⁷⁾			— ⁽⁸⁾


(1)	Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $682 million for the year ended March 31, 2017.


(2)	Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $1.8 billion for the year ended March 31, 2016.


(3)	Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $3.8 billion for the year ended March 31, 2015.


(4)	Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $75 million for the three months ended March 31, 2014.


(5)	Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $8 million for the three months ended March 31, 2013.


(6)	Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $1.8 billion for the year ended December 2013.


(7)	The income from continuing operations before income taxes for the 191 days ended July 10, 2013 included a pretax gain of $2.9 billion as a result of acquisition of our previously-

held equity interest in Clearwire.


(8)	Predecessor earnings (loss), as adjusted, were inadequate to cover fixed charges by $385 million for the three months ended March 31, 2013.