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Brazil, classified, illion, Justice, LATAM, multinational, paper, quantify, Supreme
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amendment, depreciated, discrete, inability, Restated, working
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Exhibit 12
LEVEL 3 COMMUNICATIONS, INC. AND SUBSIDIARIES
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(unaudited)
Six Months Ended June 30, | Year Ended December 31, | ||||||||||||||||||||||||||
(dollars in millions) | 2017 | 2016 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Income (Loss) from Continuing Operations Before Income Taxes | $ | 388 | $ | 408 | $ | 842 | $ | 283 | $ | 238 | $ | (71 | ) | $ | (374 | ) | |||||||||||
Interest on Debt, Net of Capitalized Interest | 266 | 275 | 546 | 642 | 654 | 649 | 733 | ||||||||||||||||||||
Amortization of Capitalized Interest | — | — | — | — | — | — | — | ||||||||||||||||||||
Portion of rents deemed representative of the interest factor (1/3) | 58 | 58 | 115 | 119 | 104 | 101 | 101 | ||||||||||||||||||||
Earnings Available for Fixed Charges | $ | 712 | $ | 741 | $ | 1,503 | $ | 1,044 | $ | 996 | $ | 679 | $ | 460 | |||||||||||||
Interest on Debt | 266 | 275 | 546 | 642 | 654 | 649 | 733 | ||||||||||||||||||||
Preferred Dividends | — | — | — | — | — | — | — | ||||||||||||||||||||
Interest Expense Portion of Rental Expense | 58 | 58 | 115 | 119 | 104 | 101 | 101 | ||||||||||||||||||||
Total Fixed Charges | $ | 324 | $ | 333 | $ | 661 | $ | 761 | $ | 758 | $ | 750 | $ | 834 | |||||||||||||
Ratio of Earnings to Fixed Charges | 2.2 | 2.2 | 2.3 | 1.4 | 1.3 | — | — | ||||||||||||||||||||
Deficiency | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (71 | ) | $ | (374 | ) |