EXHIBIT 12
AT&T INC. | |||||||||||||||||||||
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||||
Dollars in Millions | |||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, | Year Ended December 31, | ||||||||||||||||||||
2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Earnings: | |||||||||||||||||||||
Income from continuing operations before income taxes | $ | 16,791 | $ | 14,632 | $ | 18,970 | $ | 20,164 | $ | 18,458 | $ | 10,919 | $ | 5,720 | |||||||
Equity in net income of affiliates included above | (629 | ) | (549) | (734) | (819) | (692) | (2,043) | (609) | |||||||||||||
Fixed charges | 3,557 | 3,840 | 5,071 | 4,943 | 4,489 | 2,166 | 1,681 | ||||||||||||||
Distributed income of equity affiliates | 98 | 119 | 317 | 164 | 395 | 97 | 158 | ||||||||||||||
Interest capitalized | (577 | ) | (553) | (740) | (659) | (171) | (73) | (36) | |||||||||||||
Earnings, as adjusted | $ | 19,240 | $ | 17,489 | $ | 22,884 | $ | 23,793 | $ | 22,479 | $ | 11,066 | $ | 6,914 | |||||||
Fixed Charges: | |||||||||||||||||||||
Interest expense | $ | 2,248 | $ | 2,573 | $ | 3,368 | $ | 3,369 | $ | 3,460 | $ | 1,800 | $ | 1,456 | |||||||
Interest capitalized | 577 | 553 | 740 | 659 | 171 | 73 | 36 | ||||||||||||||
Dividends on preferred securities | - | - | - | 4 | 3 | 3 | 31 | ||||||||||||||
Portion of rental expense representative of interest factor | 732 | 714 | 963 | 911 | 855 | 290 | 158 | ||||||||||||||
Fixed Charges | $ | 3,557 | $ | 3,840 | $ | 5,071 | $ | 4,943 | $ | 4,489 | $ | 2,166 | $ | 1,681 | |||||||
Ratio of Earnings to Fixed Charges | 5.41 | 4.55 | 4.51 | 4.81 | 5.01 | 5.11 | 4.11 | ||||||||||||||