Lumen (LUMN) 10-Q 2017 Q2 Quarterly report

Exhibit 12

CENTURYLINK, INC.

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

(UNAUDITED)

	Six Months Ended June 30,			Years Ended December 31,
	2017			2016		2015		2014		2013		2012
	(Dollars in millions)
Income before income taxes and cumulative effect of change in accounting principle	$	347		1,020		1,316		1,110		224		1,250
Less: income from equity investee	(13		)	(27	)	(25	)	(22	)	(24	)	(15	)
Add: estimated fixed charges	759			1,529		1,516		1,502		1,486		1,504
Add: estimated amortization of capitalized interest	11			21		19		17		16		15
Add: distributed income of equity investee	12			26		19		22		14		12
Less: interest capitalized	(41		)	(54	)	(52	)	(47	)	(41	)	(43	)
Total earnings available for fixed charges	$	1,075		2,515		2,793		2,582		1,675		2,723
Estimate of interest factor on rentals	$	80		157		152		144		147		142
Interest expense, including amortization of premiums, discounts and debt issuance costs	638			1,318		1,312		1,311		1,298		1,319
Interest capitalized	41			54		52		47		41		43
Total fixed charges	$	759		1,529		1,516		1,502		1,486		1,504
Ratio of earnings to fixed charges	1.42			1.64		1.84		1.72		1.13		1.81