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
                                           
 
Three Months Ended
                            
   
March 31,
(Unaudited)
  
Year Ended December 31,
     
2010
    
2009
    
2009
    
2008
    
2007
    
2006
    
2005
Earnings:
                                          
Income from continuing operations before income taxes
  
$
5,438
  
$
5,010
  
$
18,999
  
$
20,164
  
$
18,399
  
$
10,886
  
$
5,720
Equity in net income of affiliates included above
    
(217)
    
(137)
    
(734)
    
(819)
    
(692)
    
(2,043)
    
(609)
Fixed charges
    
1,198
    
1,272
    
5,082
    
4,964
    
4,536
    
2,209
    
1,681
Distributed income of equity affiliates
    
17
    
13
    
317
    
164
    
395
    
97
    
158
Interest capitalized
    
(184)
    
(185)
    
(740)
    
(659)
    
(171)
    
(73)
    
(36)
                                           
Earnings, as adjusted
  
$
6,252
  
$
5,973
  
$
22,924
  
$
23,814
  
$
22,467
  
$
11,076
  
$
6,914
                                           
Fixed Charges:
                                          
Interest expense
  
$
767
  
$
849
  
$
3,379
  
$
3,390
  
$
3,507
  
$
1,843
  
$
1,456
Interest capitalized
    
184
    
185
    
740
    
659
    
171
    
73
    
36
Dividends on preferred securities
    
-
    
-
    
-
    
4
    
3
    
3
    
31
Portion of rental expense representative of interest factor
    
247
    
238
    
963
    
911
    
855
    
290
    
158
                                           
Fixed Charges
  
$
1,198
  
$
1,272
  
$
5,082
  
$
4,964
  
$
4,536
  
$
2,209
  
$
1,681
                                           
Ratio of Earnings to Fixed Charges
    
5.22
    
4.70
    
4.51
    
4.80
    
4.95
    
5.01
    
4.11