EXHIBIT 12
AT&T INC. | ||||||||||||||||||||||
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||
Dollars in Millions | ||||||||||||||||||||||
Three Months Ended | Year Ended December 31, | |||||||||||||||||||||
March 31, | ||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
Earnings: | ||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 5,651 | $ | 5,330 | $ | 27,777 | $ | 10,439 | $ | 6,716 | $ | 18,238 | $ | 18,518 | ||||||||
Equity in net income of affiliates included above | (88) | (185) | (642) | (752) | (784) | (762) | (734) | |||||||||||||||
Fixed charges | 1,247 | 1,194 | 5,452 | 4,876 | 4,746 | 4,727 | 5,097 | |||||||||||||||
Distributed income of equity affiliates | 105 | - | 318 | 137 | 161 | 161 | 317 | |||||||||||||||
Interest capitalized | (55) | (66) | (284) | (263) | (162) | (772) | (740) | |||||||||||||||
Earnings, as adjusted | $ | 6,860 | $ | 6,273 | $ | 32,621 | $ | 14,437 | $ | 10,677 | $ | 21,592 | $ | 22,458 | ||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest expense | $ | 860 | $ | 827 | $ | 3,940 | $ | 3,444 | $ | 3,535 | $ | 2,994 | $ | 3,368 | ||||||||
Interest capitalized | 55 | 66 | 284 | 263 | 162 | 772 | 740 | |||||||||||||||
Portion of rental expense representative of interest factor | 332 | 301 | 1,228 | 1,169 | 1,049 | 961 | 989 | |||||||||||||||
Fixed Charges | $ | 1,247 | $ | 1,194 | $ | 5,452 | $ | 4,876 | $ | 4,746 | $ | 4,727 | $ | 5,097 | ||||||||
Ratio of Earnings to Fixed Charges | 5.50 | 5.25 | 5.98 | 2.96 | 2.25 | 4.57 | 4.41 | |||||||||||||||