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, | |||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||
2012 | 2011 | 2011 | 2010 | 2009 | 20081 | 2007 | ||||||||||||||||
Earnings: | ||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 16,990 | $ | 16,406 | $ | 6,716 | $ | 18,238 | $ | 18,518 | $ | (4,572) | $ | 27,186 | ||||||||
Equity in net income of affiliates included above | (537) | (649) | (784) | (762) | (734) | (819) | (692) | |||||||||||||||
Fixed charges | 3,739 | 3,570 | 4,900 | 4,786 | 5,071 | 4,943 | 4,489 | |||||||||||||||
Distributed income of equity affiliates | 54 | 110 | 161 | 161 | 317 | 164 | 395 | |||||||||||||||
Interest capitalized | (197) | (119) | (162) | (772) | (740) | (659) | (171) | |||||||||||||||
Earnings, as adjusted | $ | 20,049 | $ | 19,318 | $ | 10,831 | $ | 21,651 | $ | 22,432 | $ | - | $ | 31,207 | ||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest expense | $ | 2,624 | $ | 2,583 | $ | 3,535 | $ | 2,994 | $ | 3,368 | $ | 3,369 | $ | 3,460 | ||||||||
Interest capitalized | 197 | 119 | 162 | 772 | 740 | 659 | 171 | |||||||||||||||
Dividends on preferred securities | - | - | - | - | - | 4 | 3 | |||||||||||||||
Portion of rental expense representative of interest factor | 918 | 868 | 1,203 | 1,020 | 963 | 911 | 855 | |||||||||||||||
Fixed Charges | $ | 3,739 | $ | 3,570 | $ | 4,900 | $ | 4,786 | $ | 5,071 | $ | 4,943 | $ | 4,489 | ||||||||
Ratio of Earnings to Fixed Charges | 5.36 | 5.41 | 2.21 | 4.52 | 4.42 | - | 6.95 | |||||||||||||||
1Earnings were not sufficient to cover fixed charges in 2008. The deficit was $943. |
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10-Q Filing
AT&T (T) 10-Q2012 Q3 Quarterly report
Filed: 2 Nov 12, 12:00am