EXHIBIT 12
AT&T INC. | |||||||||||||||||||||
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||||
Dollars in Millions | |||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||
March 31, (Unaudited) | Year Ended December 31, | ||||||||||||||||||||
2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Earnings: | |||||||||||||||||||||
Income from continuing operations before income taxes | $ | 5,438 | $ | 5,010 | $ | 18,999 | $ | 20,164 | $ | 18,399 | $ | 10,886 | $ | 5,720 | |||||||
Equity in net income of affiliates included above | (217) | (137) | (734) | (819) | (692) | (2,043) | (609) | ||||||||||||||
Fixed charges | 1,198 | 1,272 | 5,082 | 4,964 | 4,536 | 2,209 | 1,681 | ||||||||||||||
Distributed income of equity affiliates | 17 | 13 | 317 | 164 | 395 | 97 | 158 | ||||||||||||||
Interest capitalized | (184) | (185) | (740) | (659) | (171) | (73) | (36) | ||||||||||||||
Earnings, as adjusted | $ | 6,252 | $ | 5,973 | $ | 22,924 | $ | 23,814 | $ | 22,467 | $ | 11,076 | $ | 6,914 | |||||||
Fixed Charges: | |||||||||||||||||||||
Interest expense | $ | 767 | $ | 849 | $ | 3,379 | $ | 3,390 | $ | 3,507 | $ | 1,843 | $ | 1,456 | |||||||
Interest capitalized | 184 | 185 | 740 | 659 | 171 | 73 | 36 | ||||||||||||||
Dividends on preferred securities | - | - | - | 4 | 3 | 3 | 31 | ||||||||||||||
Portion of rental expense representative of interest factor | 247 | 238 | 963 | 911 | 855 | 290 | 158 | ||||||||||||||
Fixed Charges | $ | 1,198 | $ | 1,272 | $ | 5,082 | $ | 4,964 | $ | 4,536 | $ | 2,209 | $ | 1,681 | |||||||
Ratio of Earnings to Fixed Charges | 5.22 | 4.70 | 4.51 | 4.80 | 4.95 | 5.01 | 4.11 | ||||||||||||||