EX-12 7 ex12.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES ex12.htm
Exhibit 12
 
 
    AT&T, INC. 
    COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES 
   
Dollars in millions
 
             Year Ended    
   
2010
  
2009
  
2008
  
2007
  
2006
Earnings:
                              
Income (loss) from continuing operations before income taxes
   $  18,238     $  18,518     $  (4,572 )   $  27,186     $  18,638  
Equity in net income of affiliates included above
     (762 )     (734 )     (819 )     (692 )     (2,043 )
Fixed Charges
     4,786       5,071       4,943       4,489       2,166  
Distributed income of equity affiliates
     161       317       164       395       97  
Interest capitalized
     (772 )     (740 )     (659 )     (171 )     (73 )
                                         
Earnings, as adjusted
   $  21,651     $  22,432     $  (943 )   $  31,207     $  18,785  
                                         
                                         
Fixed Charges:
                                        
Interest expense
   $  2,994     $  3,368     $  3,369     $  3,460     $  1,800  
Interest capitalized
     772       740       659       171       73  
Dividends on preferred securities
     -       -       4       3       3  
Portion of rental expense representative of interest factor
     1,020       963       911       855       290  
                                         
Fixed Charges
   $  4,786     $  5,071     $  4,943     $  4,489     $  2,166  
                                         
Ratio of Earnings to Fixed Charges
     4.52       4.42       (0.19 )     6.95       8.67