EX-12.3 3 a2189657zex-12_3.htm EX-12.3
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 12.3


QWEST CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)

 
   Years Ended December 31,  
 
   2004   2003  
 
   (Dollars in millions)
  

Income from continuing operations before income taxes, discontinued operations and cumulative effect of changes in accounting principles

   $ 1,871   $ 1,845  

Add: estimated fixed charges

     686     687  

Add: estimated amortization of capitalized interest

     12     13  

Less: interest capitalized

     (12 )   (12 )
           

Total earnings available for fixed charges

   $ 2,557   $ 2,533  
           

Estimate of interest factor on rentals

  
$
75		  
$
92		  

Interest expense, including amortization of premiums, discounts and debt issuance costs(1)

     599     583  

Interest capitalized

     12     12  
           

Total fixed charges

   $ 686   $ 687  
           

Ratio of earnings to fixed charges

    
3.7		    
3.7		  
(1)
Interest expense includes only interest related to long-term borrowings and capital lease obligations.



QuickLinks