EX-12 15 exh12.htm EXH 12 exh12.htm
Exhibit 12

CenturyTel, Inc.
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(UNAUDITED)



  Year ended December 31,  
 
2008
  
2007
  
2006
  
 
(Dollars in thousands)
  
             
Net income
 $ 365,732     418,370     370,027  
Income taxes
   194,357     200,572     221,122  
                   
Pre-tax income
   560,089     618,942     591,149  
                   
Adjustments to earnings:
                  
    Fixed charges
   204,872     214,775     198,479  
    Capitalized interest
   (2,409 )   (1,278 )   (1,905 )
    Preferred stock dividends
   (246 )   (591 )   (617 )
    Gross earnings from unconsolidated cellular partnership
   (12,044 )   (14,578 )   (5,861 )
    Distributed earnings from unconsolidated cellular partnership
   15,960     10,229     -  
                   
Earnings, as adjusted
 $ 766,222     827,499     781,245  
                   
Fixed charges:
                  
    Interest expense
 $ 202,217     212,906     195,957  
    Interest capitalized
   2,409     1,278     1,905  
    Preferred stock dividends (pre-tax)
   246     591     617  
    Total fixed charges
 $ 204,872     214,775     198,479  
                   
Ratio of earnings to fixed charges and preferred stock dividends
   3.74     3.85     3.94