EX-12 5 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
 
 
 
 
Six Months Ended
 
 
 
 
 
June 30,
 
Year Ended December 31,
 
(Unaudited)
 
 
 
2012
 
2011
 
2011
 
2010
 
2009
 
20081
 
 
2007
 Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
Income (loss) from continuing operations before income taxes
$
11,548
 
$
10,821
 
$
6,716
 
$
18,238
 
$
18,518
 
$
(4,572)
 
$
27,186
 
Equity in net income of affiliates included above
 
(355)
 
 
(456)
 
 
(784)
 
 
(762)
 
 
(734)
 
 
(819)
 
 
(692)
 
Fixed charges
 
2,539
 
 
2,348
 
 
4,900
 
 
4,786
 
 
5,071
 
 
4,943
 
 
4,489
 
Distributed income of equity affiliates
 
 - 
 
 
39
 
 
161
 
 
161
 
 
317
 
 
164
 
 
395
 
Interest capitalized
 
(130)
 
 
(77)
 
 
(162)
 
 
(772)
 
 
(740)
 
 
(659)
 
 
(171)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
Earnings, as adjusted
$
13,602
 
$
12,675
 
$
10,831
 
$
21,651
 
$
22,432
 
$
 - 
 
$
31,207
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
Interest expense
$
1,800
 
$
1,694
 
$
3,535
 
$
2,994
 
$
3,368
 
$
3,369
 
$
3,460
 
Interest capitalized
 
130
 
 
77
 
 
162
 
 
772
 
 
740
 
 
659
 
 
171
 
Dividends on preferred securities
 
 - 
 
 
 - 
 
 
 - 
 
 
 - 
 
 
 - 
 
 
4
 
 
3
 
Portion of rental expense representative of interest factor
 
609
 
 
577
 
 
1,203
 
 
1,020
 
 
963
 
 
911
 
 
855
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
Fixed Charges
$
2,539
 
$
2,348
 
$
4,900
 
$
4,786
 
$
5,071
 
$
4,943
 
$
4,489
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
Ratio of Earnings to Fixed Charges
 
5.36
 
 
5.40
 
 
2.21
 
 
4.52
 
 
4.42
 
 
 - 
 
 
6.95
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
1Earnings were not sufficient to cover fixed charges in 2008. The deficit was $943.