Exhibit 12
CENTURYLINK, INC.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
| Six Months Ended June 30, | Years Ended December 31, | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||
| (Dollars in Millions) | |||||||||||||||||
Income before income taxes and cumulative effect of change in accounting principle | $ | 899 | 1,250 | 948 | 1,531 | 813 | 561 | |||||||||||
Less: income from equity investee | (9) | (15) | (13) | (16) | (19) | (13) | ||||||||||||
Add: estimated fixed charges | 732 | 1,504 | 1,223 | 615 | 418 | 229 | ||||||||||||
Add: estimated amortization of capitalized interest | 7 | 15 | 12 | 2 | 2 | 1 | ||||||||||||
Add: distributed income of equity investee | 8 | 12 | 14 | 16 | 20 | 16 | ||||||||||||
Less: preferred dividends | — | — | — | — | — | — | ||||||||||||
Less: interest capitalized | (18) | (43) | (25) | (13) | (3) | (2) | ||||||||||||
Total earnings available for fixed charges | $ | 1,619 | 2,723 | 2,159 | 2,135 | 1,231 | 792 | |||||||||||
Estimate of interest factor on rentals | $ | 73 | 142 | 126 | 57 | 48 | 27 | |||||||||||
Interest expense, including amortization of premiums, discounts and debt issuance costs | 641 | 1,319 | 1,072 | 545 | 367 | 200 | ||||||||||||
Interest capitalized | 18 | 43 | 25 | 13 | 3 | 2 | ||||||||||||
Total fixed charges | $ | 732 | 1,504 | 1,223 | 615 | 418 | 229 | |||||||||||
Ratio of earnings to fixed charges | 2.21 | 1.81 | 1.77 | 3.47 | 2.94 | 3.46 |