EX-12 11 exhibit12.htm

 

 

Exhibit 12
to Registration Statement
Registration No. 333-84276

 

RATIO OF EARNINGS TO FIXED CHARGES

FOR THE YEAR ENDED DECEMBER 31,

 

(UNAUDITED)
 

 

2001

Non-
recurring
items

2001

excluding

non-

recurring

items

 

2000

Non-

recurring

items

2000

excluding

non-

recurring

items

1999

Non-

recurring

items

1999

excluding

non-

recurring

items

 

1998

Non-

recurring

items

1998

excluding

non-

recurring

items

 

 

 

1997

 Non-

recurring

items

1997

excluding

non-

recurring

items

 
















Net income

343,031 

(117,370)

225,661 

231,474 

(2,646)

228,828 

239,769 

(1,452)

238,317 

228,757 

(30,528)

198,229 

255,978 

(106,416)

149,562 

Income taxes

210,025 


(66,698)


143,327 


154,711 


(4,166)


150,545 


189,503 


(36,821)


152,682 


158,701 


(19,331)


139,370 


152,363 


(63,224)


89,139 


Net income before
    income taxes

553,056 

(184,068)

368,988 

386,185 

(6,812)

379,373 

429,272 

(38,273)

390,999 

387,458 

(49,859)

337,599 

408,341 

(169,640)

238,701 

 

Adjustments to
    earnings:

    Fixed charges

229,649 

229,649 

187,766 

187,766 

153,222 

153,222 

168,870 

168,870 

58,005 

58,005 

    Capitalized interest

(3,472)

(3,472)

(3,800)

(3,800)

(1,990)

(1,990)

(626)

(626)

(797)

(797)

    Preferred stock div
       req, before tax

(654)

(654)

(664)

(664)

(675)

(675)

(692)

(692)

(734)

(734)

    Gross earnings from
       unconsolidated
       cellular
       partnerships

(42,553)

(7,890)

(50,443)

(26,986)

(5,330)

(32,316)

(29,956)

(6,860)

(36,816)

(32,869)

-

(32,869)

(27,852)

-

(27,852)

    Distributed earnings
       from unconsoli-
       idated cellular
       partnerships (from
       cash flow stmt)

30,856 

30,856 

35,842 

35,842 

22,219 

22,219 

26,515 

26,515 

16,825 

16,825 

    Gross losses from
       unconsolidated
       cellular
       partnerships

15,093 

15,093 

2,281 

2,281 

58 

58 

    Minority losses from
        majority-owned
        subsidiaries

(127)

(127)

(1,702)

(1,702)

(10)

(10)

(37)

(37)

(1,437)

(1,437)

 











Earnings as adjusted

781,848 

589,890 

576,641 

564,499 

574,363 

529,230 

548,619 

498,760 

452,409 

282,769 

 











Fixed charges

    Interest expense

225,523 

225,523 

183,302 

183,302 

150,557 

150,557 

167,552 

167,552 

56,474 

56,474 

    AFDC

3,472 

3,472 

3,800 

3,800 

1,990 

1,990 

626 

626 

797 

797 

    Preferred stock div
       req, before tax


654 


654 


664 


664 


675 


675 


692 


692 


734 


734 


       Total fixed charges

229,649 

229,649 

187,766 

187,766 

153,222 

153,222 

168,870 

168,870 

58,005 

58,005 

 











Ratio of earnings to
    fixed charges and
    preferred stock
    dividends

3.40 

2.57 

3.07 

3.01 

3.75 

3.45 

3.25 

2.95 

7.80 

4.87 

 

 

 

RATIO OF EARNINGS FROM CONTINUING OPERATIONS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

FOR THE YEAR ENDED DECEMBER 31,

 

(UNAUDITED)
 

     

2001

Non-

recurring

items

2001

excluding

non-

recurring

items

 

2000

Non-

recurring

items

2000

excluding

non-

recurring

items

 

1999

Non-

recurring

items

1999

excluding

non-

recurring

items

 

1998

Non-

recurring

items

1998

excluding

non-

recurring

items

 

1997

Non-

recurring

items

1997

excluding

non-

recurring

items

 




 




 




 




 




Income from continuing operations

144,146 

(16,377)

127,769 

124,229 

5,494

129,723 

135,520 

(5,571)

129,949 

116,272 

(18,255)

98,017 

181,080 

(106,416)

74,664 

Income taxes from continuing operations

 

88,711 

(8,666)

80,045 

 

83,542 

2,957

86,499 

 

88,560 

(2,964)

85,596 

 

83,731 

(9,830)

73,901 

 

104,968 

(63,224)

41,744 
















Net income from continuing operations                                        

 

before income taxes

 

232,857 

(25,043)

207,814 

 

207,771 

8,451

216,222 

 

224,080 

(8,535)

215,545 

 

200,003 

(28,085)

171,918 

 

286,048 

(169,640)

116,408 

Adjustments to earnings (from continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

229,649 

229,649 

187,766 

187,766 

153,222 

153,222 

168,870 

168,870 

58,005 

58,005 

 

Capitalized interest

 

(3,472)

 

(3,472)

 

(3,800)

 

(3,800)

 

(1,990)

 

(1,990)

 

(626)

 

(626)

 

(797)

 

(797)

Preferred stock div req, before tax

(654)

(654)

(664)

(664)

(675)

(675)

(692)

(692)

(734)

(734)

 

Minority losses from majority-owned subsidiaries

 

(35)

 

(35)

 

(1,614)

 

(1,614)

 

 

 

 

 

 











Earnings from continuing operations as adjusted

 

458,345 

 

433,302 

 

389,459 

 

397,910 

 

374,637 

 

366,102 

 

367,555 

 

339,470 

 

342,522 

 

172,882 











 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges from continuing operations:

 

Interest expense

 

225,523 

 

225,523 

 

183,302 

 

183,302 

 

150,557 

 

150,557 

 

167,552 

 

167,552 

 

56,474 

 

56,474 

AFDC

3,472 

3,472 

3,800 

3,800 

1,990 

1,990 

626 

626 

797 

797 

 

Preferred stock div req, before tax

 

654 


 

654 


 

664 


 

664 


 

675 


 

675 


 

692 


 

692 


 

734 


 

734 


Total fixed charges

229,649 

229,649 

187,766 

187,766 

153,222 

153,222 

168,870 

168,870 

58,005 

58,005 

 

 

 


 

 


 

 


 

 


 

 


 

Ratio of earnings from continuing operations to fixed

 

charges and preferred stock dividends

 

2.00 

 

1.89 

 

2.07 

 

2.12 

 

2.45 

 

2.39 

 

2.18 

 

2.01 

 

5.91 

 

2.98