EX-12 17 exh12.htm EXHIBIT 12 Unassociated Document
Exhibit 12
 
 

 
CenturyTel, Inc.
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(UNAUDITED)


   
Year ended December 31,
 
   
2009
   
2008
   
2007
 
   
(Dollars in thousands)
 
                   
Net income before extraordinary item
  $ 511,254       365,732       418,370  
Income taxes
    301,881       194,357       200,572  
                         
Pre-tax income before extraordinary item
    813,135       560,089       618,942  
                         
Adjustments to earnings:
                       
Fixed charges
    373,913       204,872       214,775  
Capitalized interest
    (3,480 )     (2,409 )     (1,278 )
Preferred stock dividends
    (19 )     (246 )     (591 )
Gross earnings from unconsolidated cellular partnership
    (19,087 )     (12,044 )     (14,578 )
Distributed earnings from unconsolidated cellular partnership
    20,100       15,960       10,229  
                         
Earnings, as adjusted
  $ 1,184,562       766,222       827,499  
                         
Fixed charges:
                       
Interest expense
  $ 370,414       202,217       212,906  
                         
Interest capitalized
    3,480       2,409       1,278  
Preferred stock dividends (pre-tax)
    19       246       591  
Total fixed charges
  $ 373,913       204,872       214,775  
                         
Ratio of earnings to fixed charges and preferred stock dividends
    3.17       3.74       3.85