EX-12 2 g26859exv12.htm EX-12 exv12
Exhibit 12
Time Warner Cable Inc.
Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements
($ in millions)
                                                    
    Three        
    Months        
    Ended        
    March 31,     Year Ended December 31.  
    2011     2010     2009     2008     2007     2006  
Earnings:
                                               
Net income (loss) before income taxes, discontinued operations and cumulative effect of accounting change
  $ 582     $ 2,196     $ 1,912     $ (13,072)     $ 2,028     $ 1,664  
Interest expense
    365       1,397       1,324       961       907       690  
Portion of rents representative of an interest factor
    18       71       71       63       61       50  
Amortization of capitalized interest
    1       3       3       3       3       2  
Preferred stock dividend requirements of majority-owned subsidiaries
                                   
Adjustment for partially-owned subsidiaries and 50%-owned companies
                      1             27  
Distributions received less earnings of less than 50%-owned companies
    31       132       70       6       63       4  
 
                                   
Total earnings
  $ 997     $ 3,799     $ 3,380     $ (12,038)     $ 3,062     $ 2,437  
 
                                   
 
                                               
Fixed Charges:
                                               
Interest expense
  $ 365     $ 1,397     $ 1,324     $ 961     $ 907     $ 690  
Portion of rents representative of an interest factor
    18       71       71       63       61       50  
Capitalized interest
                1       1       5       2  
Preferred stock dividend requirements of majority-owned subsidiaries
                                   
Adjustment for partially-owned subsidiaries and 50%-owned companies
                                  43  
 
                                   
Total fixed charges
  $ 383     $ 1,468     $ 1,396     $ 1,025     $ 973     $ 785  
 
                                   
 
                                               
Pretax income necessary to cover preferred dividend requirements
                                   
 
                                   
Total combined
  $ 383     $ 1,468     $ 1,396     $ 1,025     $ 973     $ 785  
 
                                   
 
                                               
Ratio of earnings to fixed charges (deficiency in the coverage of fixed charges by earnings before fixed charges)
    2.6x       2.6x       2.4x     $ (13,063)       3.1x       3.1x  
 
                                   
 
                                               
Ratio of earnings to combined fixed charges and preferred dividend requirements (deficiency in the coverage of combined fixed charges and preferred dividend requirements deficiency)
    2.6x       2.6x       2.4x     $ (13,063)       3.1x       3.1x