EX-12 3 forms373004ex12.txt EXHIBIT 12 BellSouth Corporation Computation Of Earnings To Fixed Charges (Dollars In Millions) For the three months ended March 31, 2004 2003 Earnings Income from continuing operations before provision for income taxes, minority interest, discontinued operations, and cumulative effect of accounting change $1,773 $1,340 Equity in (earnings) losses of unconsolidated affiliates (104) (171) Fixed Charges 244 287 Distributed income of equity affiliates -- 2 Interest capitalized (1) (2) --------- --------- Income, as adjusted $1,912 $1,456 --------- --------- Fixed Charges Interest expense $215 $258 Interest capitalized 1 2 Portion of rental expense representative of interest factor 28 27 --------- --------- Fixed Charges $244 $287 --------- --------- --------- --------- Ratio of Earnings to Fixed Charges 7.83 5.07 ========= ========= For the year ended December 31, ------------------------------- 2003 2002 2001 2000 1999 ---- ---- ---- ---- ---- Earnings Income from continuing operations before provision for income taxes, minority interest, discontinued operations, and cumulative effect of accounting change $5,424 $5,367 $4,120 $6,537 $5,703 Equity in (earnings) losses of unconsolidated affiliates (452) (542) (681) (784) (199) Fixed Charges 1,061 1,195 1,268 1,348 1,116 Distributed income of equity affiliates 4 8 369 156 97 Interest capitalized (8) (20) (31) (34) (29) ------- ------- ------- ------- ------- Income, as adjusted $6,029 $6,008 $5,045 $7,223 $6,688 ------- ------- ------- ------- ------- Fixed Charges Interest expense $ 947 $ 1,066 $1,145 $1,182 $961 Interest capitalized 8 20 31 34 29 Portion of rental expense representative of interest factor 106 109 92 132 126 ------- ------- ------- ------- ------- Fixed Charges $1,061 $1,195 $1,268 $1,348 $1,116 ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- Ratio of Earnings to Fixed Charges 5.68 5.03 3.98 5.36 5.99 ======= ======= ======= ======= =======