EXHIBIT 12
CAROLINA TELEPHONE AND TELEGRAPH COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
(dollars in thousands)
Three Months Ended
March 31,
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1997 1996
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Earnings
Income before income taxes $ 47,495 $ 48,377
Capitalized interest (38) (439)
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Subtotal 47,457 47,938
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Fixed charges
Interest charges 5,356 5,729
Interest factor of operating rents 525 607
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Total fixed charges 5,881 6,336
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Earnings, as adjusted $ 53,338 $ 54,274
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Ratio of earnings to fixed charges 9.07 8.57
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Note: The above ratios were computed by dividing fixed charges into the sum of (a)income before taxes, less
capitalized interest, and (b)fixed charges. Fixed charges consist of interest on all indebtedness
(including amortization of debt issuance expenses) and the interest component of operating rents.