EX-12.1 5 a2069487zex-12_1.htm EXHIBIT 12.1 Prepared by MERRILL CORPORATION
QuickLinks -- Click here to rapidly navigate through this document


EXHIBIT 12.1


QWEST COMMUNICATIONS INTERNATIONAL INC.
RATIO OF EARNINGS TO FIXED CHARGES(1)
(Dollars in millions)

 
   Year Ended December 31,
   Nine Months Ended
September 30,
  
 
   1996
   1997
   1998
   1999
   2000
   2000
   2001(2)
  
Income before income taxes, extraordinary item and cumulative effect of change in accounting principle   $ 2,377   $ 2,429   $ 2,419   $ 1,902   $ 126   $ 196   $ (3,090 )
Interest expense (net of amounts capitalized)     448     405     543     736     1,041     732     1,061  
Interest factor on rentals (1/3)     79     91     70     92     137     110     102  
   
 
 
 
 
 
 
 
  Subtotal earnings     2,904     2,925     3,032     2,730     1,304     1,038     (1,927 )
Add: Losses from equity method affiliates     —     —     —     —     41     16     3,116  
   
 
 
 
 
 
 
 
Total earnings   $ 2,904   $ 2,925   $ 3,032   $ 2,730   $ 1,345   $ 1,054   $ 1,189  
   
 
 
 
 
 
 
 

Gross interest expense
 
$
479
 
$
425
 
$
568
 
$
763
 
$
1,145
 
$
800
 
$
1,210
 
Interest factor on rentals (1/3)     79     91     70     92     137     110     102  
   
 
 
 
 
 
 
 
Fixed charges   $ 558   $ 516   $ 638   $ 855   $ 1,282   $ 910   $ 1,312  
   
 
 
 
 
 
 
 

Ratio of earnings to fixed charges or (coverage deficiency)
 
 
5.20
 
 
5.67
 
 
4.75
 
 
3.19
 
 
1.05
 
 
1.16
 
$
(123
)
   
 
 
 
 
 
 
 

Note (1):
"Earnings" is computed by adding income before income taxes, extraordinary items and cumulative effect of change in accounting principle and fixed charges. Also included in earnings is the add-back of Qwest's share of losses in its equity method affiliates. "Fixed charges" consist of interest on indebtedness and the portion of rentals representative of the interest factor.

Note (2):
For the nine months ended September 30, 2001, the ratio of earnings to fixed charges was calculated as a negative ratio. As a result, disclosed above is the calculation of the coverage deficiency. For the purposes of this calculation we have included the impact of the $3.048 billion write-down of the investment on KPNQwest that occurred during the second quarter of 2001, as an add-back of Qwest's share of losses in its equity method affiliates.



QuickLinks

QWEST COMMUNICATIONS INTERNATIONAL INC. RATIO OF EARNINGS TO FIXED CHARGES(1) (Dollars in millions)