SPRINT Corp - FORM 10-Q - EX-12 - RATIO OF EARNINGS TO COMBINED FIXED CHARGES - November 6, 2014

Attached files

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EX-10.3 - FIRST AMENDMENT TO EMPLOYMENT AGREEMENT - JOHN C. SAW - SPRINT Corpsprintcorpsep-2014exhibit103.htm
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 1350 - SPRINT Corpsprintcorpsep-2014exhibit322.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO RULE 13A-14(A) - SPRINT Corpsprintcorpsep-2014exhibit311.htm
EX-10.2 - SPRINT CORPORATION AMENDED AND RESTATED DEFERRED COMPENSATION PLAN - SPRINT Corpsprintcorpsep-2014exhibit102.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 1350 - SPRINT Corpsprintcorpsep-2014exhibit321.htm
EXCEL - IDEA: XBRL DOCUMENT - SPRINT CorpFinancial_Report.xls
10-Q - FORM 10-Q - SPRINT Corpsprintcorp9-30x1410q.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO RULE 13A-14(A) - SPRINT Corpsprintcorpsep-2014exhibit312.htm


Exhibit 12
Computation of Ratio of Earnings to Fixed Charges
 
 
Successor
 
 
Predecessor
 
Six Months Ended
September 30,
 
Six Months Ended
September 30,
 
Three Months Ended March 31,
 
Year Ended December 31,
 
 
101 days ended July 10,
 
Years Ended December 31,
 
2014
 
2013
 
2014
 
2013
 
 
2013
 
2012
 
2011
 
2010
 
2009
 
(in millions)
Earnings (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income from continuing operations before income taxes
$
(686
)
 
$
(784
)
 
$
(95
)
 
$
(1,815
)
 
 
$
1,048

 
$
(4,172
)
 
$
(2,636
)
 
$
(3,299
)
 
$
(3,494
)
Equity in losses of unconsolidated investments, net
—

 
—

 
—

 
—

 
 
280

 
1,114

 
1,730

 
1,286

 
803

Fixed charges
1,478


619

 
747

 
1,367

 
 
894

 
2,365

 
2,068

 
2,081

 
2,047

Interest capitalized
(25
)

(14
)
 
(13
)
 
(30
)
 
 
(14
)
 
(278
)
 
(413
)
 
(13
)
 
(12
)
Amortization of interest capitalized
66

 
26

 
33

 
56

 
 
38

 
81

 
48

 
85

 
85

Earnings (loss), as adjusted
833


(153
)

672

 
(422
)
 
 
2,246

 
(890
)
 
797

 
140

 
(571
)
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
1,022

 
416

 
516

 
918

 
 
703

 
1,428

 
1,011

 
1,464

 
1,450

Interest capitalized
25

 
14

 
13

 
30

 
 
14

 
278

 
413

 
13

 
12

Portion of rentals representative of interest
431

 
189

 
218

 
419

 
 
177

 
659

 
644

 
604

 
585

Fixed charges
1,478


619


747

 
1,367

 
 
894

 
2,365

 
2,068

 
2,081

 
2,047

Ratio of earnings to fixed charges
— (1)

 
— (2)

 
— (3)

 
— (4)

 
 
2.5 (5)

 
— (6)

 
— (7)

 
— (8)

 
— (9)


(1)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $645 million for the six months ended September 30, 2014.
(2)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $772 million for the six months ended September 30, 2013.
(3)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $75 million for the three months ended March 31, 2014.
(4)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $1.8 billion in the year ended 2013.
(5)
The income from continuing operations before income taxes for 101 days period ended July 10, 2013 included a pretax gain of $2.9 billion as a result of acquisition of our previously-held equity interest in Clearwire.
(6)
Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $3.3 billion in the year ended 2012.
(7)
Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $1.3 billion in the year ended 2011.
(8)
Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $1.9 billion in the year ended 2010.
(9)
Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $2.6 billion in the year ended 2009.


 


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