EX-12 3 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
 
 
 
 
Three Months Ended
 
 
 
 
 
March 31,
 
Year Ended December 31,
 
(Unaudited)
 
 
 
2012
 
2011
 
2011
 
2010
 
20091
 
2008
 
 
2007
 Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
5,517
 
$
5,270
 
$
6,716
 
$
18,238
 
$
18,518
 
$
(4,572)
 
$
27,186
 
Equity in net income of affiliates included above
 
(223)
 
 
(249)
 
 
(784)
 
 
(762)
 
 
(734)
 
 
(819)
 
 
(692)
 
Fixed charges
 
1,232
 
 
1,176
 
 
4,900
 
 
4,786
 
 
5,071
 
 
4,943
 
 
4,489
 
Distributed income of equity affiliates
 
-
 
 
16
 
 
161
 
 
161
 
 
317
 
 
164
 
 
395
 
Interest capitalized
 
(65)
 
 
(35)
 
 
(162)
 
 
(772)
 
 
(740)
 
 
(659)
 
 
(171)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
Earnings, as adjusted
$
6,461
 
$
6,178
 
$
10,831
 
$
21,651
 
$
22,432
 
$
-
 
$
31,207
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
Interest expense
$
859
 
$
846
 
$
3,535
 
$
2,994
 
$
3,368
 
$
3,369
 
$
3,460
 
Interest capitalized
 
65
 
 
35
 
 
162
 
 
772
 
 
740
 
 
659
 
 
171
 
Dividends on preferred securities
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
4
 
 
3
 
Portion of rental expense representative of interest factor
 
308
 
 
295
 
 
1,203
 
 
1,020
 
 
963
 
 
911
 
 
855
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
Fixed Charges
$
1,232
 
$
1,176
 
$
4,900
 
$
4,786
 
$
5,071
 
$
4,943
 
$
4,489
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
5.24
 
 
5.25
 
 
2.21
 
 
4.52
 
 
4.42
 
 
-
 
 
6.95
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
1Earnings were not sufficient to cover fixed charges in 2008. The deficit was $943.