Exhibit 12.1
Time Warner Cable Inc.
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
Three | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
March 31, | Year Ended December 31, | |||||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Net income before income taxes, discontinued operations and cumulative effect of accounting change | $ | 407 | $ | 1,863 | $ | 1,556 | $ | 1,302 | $ | 1,085 | $ | 784 | ||||||||||||
Interest expense | 202 | 907 | 690 | 501 | 491 | 514 | ||||||||||||||||||
Amortization of capitalized interest | 1 | 3 | 2 | 2 | 2 | 2 | ||||||||||||||||||
Portion of rents representative of an interest factor | 16 | 61 | 50 | 32 | 33 | 30 | ||||||||||||||||||
Preferred stock dividend requirements of majority-owned subsidiaries | — | — | — | — | — | — | ||||||||||||||||||
Adjustment for partially-owned subsidiaries and 50%-owned companies | 41 | 165 | 135 | 119 | 90 | 89 | ||||||||||||||||||
Undistributed losses of less than 50%-owned companies | — | 63 | 4 | 4 | 6 | 23 | ||||||||||||||||||
Total earnings | $ | 667 | $ | 3,062 | $ | 2,437 | $ | 1,960 | $ | 1,707 | $ | 1,442 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 202 | $ | 907 | $ | 690 | $ | 501 | $ | 491 | $ | 514 | ||||||||||||
Capitalized interest | — | 5 | 2 | 1 | 1 | 1 | ||||||||||||||||||
Portion of rents representative of an interest factor | 16 | 61 | 50 | 32 | 33 | 30 | ||||||||||||||||||
Preferred stock dividend requirements of majority-owned subsidiaries | — | — | — | — | — | — | ||||||||||||||||||
Adjustment for partially-owned subsidiaries and 50%-owned companies | — | — | 43 | 60 | 39 | 35 | ||||||||||||||||||
Total fixed charges | $ | 218 | $ | 973 | $ | 785 | $ | 594 | $ | 564 | $ | 580 | ||||||||||||
Ratio of earnings to fixed charges | 3.1 | x | 3.1 | x | 3.1 | x | 3.3 | x | 3.0 | x | 2.5 | x | ||||||||||||