EX-12 6 d483194dex12.htm EX-12 EX-12

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)

 

                                                                                              
    Year Ended December 31.  
    2012     2011     2010     2009     2008  

Earnings:

          

Net income (loss) before income taxes,
discontinued operations and cumulative effect
of accounting change

   $ 3,336       $ 2,462       $ 2,196       $ 1,912       $ (13,072)   

Interest expense

     1,614         1,524         1,397         1,324         961   

Portion of rents representative of an interest factor

     80         68         71         71         63   

Amortization of capitalized interest

     2         3         3         3         3   

Preferred stock dividend requirements of
majority-owned subsidiaries

     —         —         —         —         —   

Adjustment for partially-owned subsidiaries
and 50%-owned companies

     —         —         —         —         1   

Distributions received less earnings of less than
50%-owned companies

     16         109         132         70         6   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

   $ 5,048       $ 4,166       $ 3,799       $ 3,380       $ (12,038)   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges:

          

Interest expense

   $ 1,614       $ 1,524       $ 1,397       $ 1,324       $ 961   

Portion of rents representative of an interest factor

     80         68         71         71         63   

Capitalized interest

     4         —         —         1         1   

Preferred stock dividend requirements of
majority-owned subsidiaries

     —         —         —         —         —   

Adjustment for partially-owned subsidiaries and
50%-owned companies

     —         —         —         —         —   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

   $ 1,698       $ 1,592       $ 1,468       $ 1,396       $ 1,025   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Pretax income necessary to cover preferred
dividend requirements

     —         —         —         —         —   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total combined

   $ 1,698       $ 1,592       $ 1,468       $ 1,396       $ 1,025   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges (deficiency in the
coverage of fixed charges by earnings before
fixed charges)

     3.0x        2.6x        2.6x        2.4x      $ (13,063)   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to combined fixed charges and
preferred dividend requirements (deficiency in
the coverage of combined fixed charges and
preferred dividend requirements deficiency)

     3.0x        2.6x        2.6x        2.4x      $ (13,063)