EX-12 3 lvltexhibit12123115.htm EXHIBIT 12 Exhibit


Exhibit 12
 
STATEMENTS RE COMPUTATION OF RATIOS
 
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
LEVEL 3 COMMUNICATIONS, INC. AND SUBSIDIARIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended
(In millions)
 
2015
 
2014
 
2013
 
2012
 
2011
Income (Loss) from Continuing Operations Before Taxes
 
$
283

 
$
238

 
$
(71
)
 
$
(374
)
 
$
(786
)
Interest on Debt, Net of Capitalized Interest
 
642

 
654

 
649

 
733

 
716

Amortization of Capitalized Interest
 
—

 
—

 
—

 
—

 
—

Portion of rents deemed representative of the interest factor (1/3)
 
119

 
104

 
101

 
101

 
77

 Earnings Available for Fixed Charges
 
$
1,044

 
$
996

 
$
679

 
$
460

 
$
7

Interest on Debt
 
$
642

 
$
654

 
$
649

 
$
733

 
$
716

Preferred Dividends
 
—

 
—

 
—

 
—

 
—

Interest Expense Portion of Rental Expense
 
119

 
104

 
101

 
101

 
77

Total Fixed Charges
 
$
761

 
$
758

 
$
750

 
$
834

 
$
793

Ratio of Earnings to Fixed Charges
 
1.4

 
1.3

 
—

 
—

 
—

Deficiency
 
$
—

 
$
—

 
$
(71
)
 
$
(374
)
 
$
(786
)