EX-12 4 form8k62404ex12.txt EXHIBIT 12 BellSouth Corporation Computation Of Earnings To Fixed Charges (Dollars In Millions) For the year ended For the quarter December 31, ended March 31, 2002 2003 2003 2004 ---- ---- ---- ---- Earnings Income from continuing operations before provision for income taxes, minority interest, discontinued operations, and cumulative effect of accounting change $5,367 $5,424 $1,340 $1,773 Equity in (earnings) losses of unconsolidated affiliates (542) (452) (171) (104) Fixed Charges 1,195 1,061 287 244 Distributed income of equity affiliates 8 4 2 -- Interest capitalized (20) (8) (2) (1) ---------- ---------- --------- ---------- Income, as adjusted $6,008 $6,029 $1,456 $1,912 ---------- ---------- --------- ---------- Fixed Charges Interest expense $1,066 $947 $258 $215 Interest capitalized 20 8 2 1 Portion of rental expense representative of interest factor 109 106 27 28 ---------- ---------- --------- ---------- Fixed Charges $1,195 $1,061 $287 $244 ---------- ----------- --------- ---------- ---------- ----------- --------- ---------- Ratio of Earnings to Fixed Charges 5.03 5.68 5.07 7.83 ========== =========== ========= ==========