EX-12 5 ctlex_12.htm

Exhibit 12
to Registration Statement

 

RATIO OF EARNINGS TO FIXED CHARGES
FOR THE YEAR ENDED DECEMBER 31,
(UNAUDITED)

(for S-3 shelf registration statement)

2001

Non-recurring items

2001 excluding non- recurring items

2000

Non- recurring items

2000 excluding non- recurring items

1999

Non- recurring items

1999 excluding non- recurring items

1998

Non- recurring items

1998 excluding non- recurring items

1997

Non- recurring items

1997 excluding non- recurring items


Net income

343,031

(117,370)

225,661

231,474

(2,646)

228,828

239,769

(1,452)

238,317

228,757

(30,528)

198,229

255,978

(106,416)

149,562

Income taxes

210,025

 (66,698)

143,327

154,711

(4,166)

150,545

189,503

36,821)

152,682

158,701

(19,331)

139,370

152,363

(63,224)

89,139
















Net income before income taxes

553,056

(184,068)

368,988

386,185

(6,812)

379,373

429,272

(38,273)

390,999

387,458

(49,859)

337,599

408,341

(169,640)

238,701

Adjustments to earnings:

 

Fixed charges

229,649

229,649

187,766

187,766

153,222

153,222

168,870

168,870

58,005

58,005

 

Capitalized interest

  (3,472)

(3,472)

(3,800)

(3,800)

(1,990)

(1,990)

(626)

(626)

(797)

(797)

 

Preferred stock dividend requirement, before tax

     (654)

(654)

(664)

(664)

(675)

(675)

(692)

(692)

(734)

(734)

 

Gross earnings from unconsolidated cellular partnerships

(42,553)

(7,890)

(50,443)

(26,986)

(5,330)

(32,316)

(29,956)

(6,860)

(36,816)

(32,869)

(32,869)

(27,852)

-

(27,852)

 

Distributed earnings from unconsolidated cellular partnerships (from cash flow statement)

30,856

30,856

35,842

35,842

22,219

22,219

26,515

26,515

16,825

16,825

 

Gross losses from unconsolidated cellular partnerships

15,093

15,093

-

-

2,281

2,281

-

-

58

58

 

Minority losses from majority-owned subsidiaries

(127)

(127)

(1,702)

(1,702)

(10)

(10)

(37)

(37)

(1,437)

(1,437)











 

Earnings as adjusted

781,848

589,890

576,641

564,499

574,363

529,230

548,619

498,760

452,409

282,769











Fixed charges:

 

Interest expense

225,523

225,523

183,302

183,302

150,557

150,557

167,552

167,552

56,474

56,474

 

Interest capitalized (AFDC)

3,472

3,472

3,800

3,800

1,990

1,990

626

626

797

797

 

Preferred stock dividend requirement

654

654

664

664

675

675

692

692

734

734











Total fixed charges

229,649

229,649

187,766

187,766

153,222

153,222

168,870

168,870

58,005

58,005











Ratio of earnings to fixed charges

3.40

2.57

3.07

3.01

3.75

3.45

3.25

2.95

7.80

4.87