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QWEST CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
| Years Ended December 31, | ||||||
---|---|---|---|---|---|---|---|
| 2004 | 2003 | |||||
| (Dollars in millions) | ||||||
Income from continuing operations before income taxes, discontinued operations and cumulative effect of changes in accounting principles | $ | 1,871 | $ | 1,845 | |||
Add: estimated fixed charges | 686 | 687 | |||||
Add: estimated amortization of capitalized interest | 12 | 13 | |||||
Less: interest capitalized | (12 | ) | (12 | ) | |||
Total earnings available for fixed charges | $ | 2,557 | $ | 2,533 | |||
Estimate of interest factor on rentals | $ | 75 | $ | 92 | |||
Interest expense, including amortization of premiums, discounts and debt issuance costs(1) | 599 | 583 | |||||
Interest capitalized | 12 | 12 | |||||
Total fixed charges | $ | 686 | $ | 687 | |||
Ratio of earnings to fixed charges | 3.7 | 3.7 |
- (1)
- Interest expense includes only interest related to long-term borrowings and capital lease obligations.