Exhibit 12

EX-12 8 exhibit12.htm SBC STATEMENT OF COMPUTATION OF RATIOS Exhibit 12

Exhibit 12

SBC COMMUNICATIONS INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Dollars in Millions

Six Months Ended
June 30,

Year Ended December 31,

2002

2001

2000

1999

1998

1997

Income Before Income Taxes, Extraordinary Items
and Cumulative Effect of Accounting Changes*

4,590

5,883

10,602

12,367

10,382

11,859

6,356

Add:	Interest Expense	690	884	1,599	1,592	1,430	1,605	1,550
	Dividends on Preferred Securities	5	46	57	118	118	114	98
	1/3 Rental Expense	99	114	266	252	236	228	202

Adjusted Earnings

5,384

6,927

12,524

14,329

12,166

13,806

8,206

Total Interest Charges	$	722	$	938	$	1,718	$	1,693	$	1,511	$	1,691	$	1,700
Dividends on Preferred Securities		5		46		57		118		118		114		98
1/3 Rental Expense		99		114		266		252		236		228		202

Adjusted Fixed Charges

826

1,098

2,041

2,063

1,865

2,033

2,000

Ratio of Earnings to Fixed Charges

6.52

6.31

6.14

6.95

6.52

6.79

4.10

*Undistributed earnings on investments accounted for under the equity method have been excluded.