EX-12 2 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
 
 
 
 
Nine Months Ended
 
 
 
 
 
September 30,
 
Year Ended December 31,
 
(Unaudited)
 
 
 
2012
 
2011
 
2011
 
2010
 
2009
 
20081
 
 
2007
 Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
Income (loss) from continuing operations before income taxes
$
16,990
 
$
16,406
 
$
6,716
 
$
18,238
 
$
18,518
 
$
(4,572)
 
$
27,186
 
Equity in net income of affiliates included above
 
(537)
 
 
(649)
 
 
(784)
 
 
(762)
 
 
(734)
 
 
(819)
 
 
(692)
 
Fixed charges
 
3,739
 
 
3,570
 
 
4,900
 
 
4,786
 
 
5,071
 
 
4,943
 
 
4,489
 
Distributed income of equity affiliates
 
 54 
 
 
110
 
 
161
 
 
161
 
 
317
 
 
164
 
 
395
 
Interest capitalized
 
(197)
 
 
(119)
 
 
(162)
 
 
(772)
 
 
(740)
 
 
(659)
 
 
(171)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
Earnings, as adjusted
$
20,049
 
$
19,318
 
$
10,831
 
$
21,651
 
$
22,432
 
$
 - 
 
$
31,207
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
Interest expense
$
2,624
 
$
2,583
 
$
3,535
 
$
2,994
 
$
3,368
 
$
3,369
 
$
3,460
 
Interest capitalized
 
197
 
 
119
 
 
162
 
 
772
 
 
740
 
 
659
 
 
171
 
Dividends on preferred securities
 
 - 
 
 
 - 
 
 
 - 
 
 
 - 
 
 
 - 
 
 
4
 
 
3
 
Portion of rental expense representative of interest factor
 
918
 
 
868
 
 
1,203
 
 
1,020
 
 
963
 
 
911
 
 
855
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
Fixed Charges
$
3,739
 
$
3,570
 
$
4,900
 
$
4,786
 
$
5,071
 
$
4,943
 
$
4,489
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
Ratio of Earnings to Fixed Charges
 
5.36
 
 
5.41
 
 
2.21
 
 
4.52
 
 
4.42
 
 
 - 
 
 
6.95
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
1Earnings were not sufficient to cover fixed charges in 2008. The deficit was $943.