Exhibit 12

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

Nine Months Ended
September 30, Year Ended December 31,

2003 2002 2002 2001 2000 1999 1998

Income Before Income Taxes, Extraordinary Items
    and Cumulative Effect of Accounting Changes* $ 6,637 $ 6,199 $ 8,871 $ 10,223 $ 12,095 $ 10,382 $ 11,859

Add:	Interest Expense	972	1,046	1,382	1,599	1,592	1,430	1,605
	Dividends on Preferred Securities	5	7	10	57	118	118	114
	1/3 Rental Expense	106	151	195	266	252	236	228

Adjusted Earnings $ 7,720 $ 7,403 $ 10,458 $ 12,145 $ 14,057 $ 12,166 $ 13,806

Total Interest Charges	$	997	$	1,088	$	1,440	$	1,718	$	1,693	$	1,511	$	1,691
Dividends on Preferred Securities		5		7		10		57		118		118		114
1/3 Rental Expense		106		151		195		266		252		236		228

Adjusted Fixed Charges $ 1,108 $ 1,246 $ 1,645 $ 2,041 $ 2,063 $ 1,865 $ 2,033

Ratio of Earnings to Fixed Charges 6.97 5.94 6.36 5.95 6.81 6.52 6.79

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