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EXHIBIT 12
THE OHIO BELL TELEPHONE COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
For the Year Ended December 31,
1994 1993 1992 1991 1990
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1. EARNINGS
a) Income before interest cost, income
tax, extraordinary charge and
cumulative effect of change in
accounting principles . . . . . . . . . . . . $274.1 $446.9 $432.0 $405.5 $407.1
b) Portion of rental expense representative
of the interest factor . . . . . . . . . . . . 1.7 2.2 2.6 4.0 5.4
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Total 1(a) through 1(b) . . . . . . . . . . $275.8 $449.1 $434.6 $409.5 $412.5
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2. FIXED CHARGES
a) Total interest deductions including
capital lease obligations . . . . . . . . . . $ 63.6 $ 62.2 $ 66.1 $ 80.6 $ 76.3
b) Portion of rental expense representative
of the interest factor . . . . . . . . . . . 1.7 2.2 2.6 4.0 5.4
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Total 2(a) through 2(b) . . . . . . . . . . $ 65.3 $ 64.4 $ 68.7 $ 84.6 $ 81.7
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3. RATIO OF EARNINGS TO FIXED CHARGES . . . . . . . . . 4.22 6.97 6.33 4.84 5.05
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(1) The Company considers one-third of rental expense to be the amount
representing return on capital and therefore it must be included in
fixed charges.
(2) Interest cost includes capitalized interest expense.
(3) Earnings have not been adjusted to reflect the timing of dividends
received and equity in earnings of unconsolidated affiliates as the
effect on an annual basis has been insignificant.
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