SPRINT Corp - FORM 10-Q - EX-12 - RATIO OF EARNINGS TO COMBINED FIXED CHARGES - February 4, 2016

Attached files

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10-Q - FORM 10-Q - SPRINT Corpsprintcorp12-31x1510q.htm
EX-10.4 - FIRST AMENDMENT TO SECOND STEP TRANSFER AGREEMENT - SPRINT Corpsprintcorpdec-2015ex104.htm
EX-10.2 - FIRST AMENDMENT TO FIRST STEP TRANSFER AGREEMENT - SPRINT Corpsprintcorpdec-2015ex102.htm
EX-10.13 - SECOND AMENDMENT TO SECOND STEP TRANSFER AGREEMENT - SPRINT Corpsprintcorpdec-2015ex1013.htm
EX-10.11 - EMPLOYMENT AGREEMENT WITH ROGER SOLE RAFOLS - SPRINT Corpsprintcorpdec-2015ex1011.htm
EX-10.12 - EMPLOYMENT AGREEMENT WITH JORGE GRACIA - SPRINT Corpsprintcorpdec-2015ex1012.htm
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 1350 - SPRINT Corpsprintcorpdec-2015ex322.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 1350 - SPRINT Corpsprintcorpdec-2015ex321.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO RULE 13A-14(A) - SPRINT Corpsprintcorpdec-2015ex312.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO RULE 13A-14(A) - SPRINT Corpsprintcorpdec-2015ex311.htm


Exhibit 12
Computation of Ratio of Earnings to Fixed Charges
 
 
Successor
 
 
Predecessor
 
Nine Months Ended
December 31,
 
Nine Months Ended
December 31,
 
Year Ended
March 31,
 
Three Months Ended March 31,
 
Year Ended
December 31,
 
87 Days Ended
December 31,
 
 
191 Days Ended July 10,
 
Years Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
2013
 
2012
 
 
2013
 
2012
 
2011
 
2010
 
(in millions)
Earnings (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income from continuing operations before income taxes
$
(1,315
)
 
$
(3,722
)
 
$
(3,919
)
 
$
(95
)
 
$
(1,815
)
 
$
(23
)
 
 
$
443

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

 
—

 
—

 
—

 
—

 
—

 
 
482

 
1,114

 
1,730

 
1,286

Fixed charges
2,353


2,212


2,969

 
747

 
1,367

 
—

 
 
1,501

 
2,365

 
2,068

 
2,081

Interest capitalized
(40
)

(41
)

(56
)
 
(13
)
 
(30
)
 
—

 
 
(29
)
 
(278
)
 
(413
)
 
(13
)
Amortization of interest capitalized
100

 
99

 
133

 
33

 
56

 
—

 
 
71

 
81

 
48

 
85

Earnings (loss), as adjusted
1,098


(1,452
)

(873
)
 
672

 
(422
)
 
(23
)
 
 
2,468

 
(890
)
 
797

 
140

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
1,630

 
1,528

 
2,051

 
516

 
918

 
—

 
 
1,135

 
1,428

 
1,011

 
1,464

Interest capitalized
40

 
41

 
56

 
13

 
30

 
—

 
 
29

 
278

 
413

 
13

Portion of rentals representative of interest
683

 
643

 
862

 
218

 
419

 
—

 
 
337

 
659

 
644

 
604

Fixed charges
2,353


2,212


2,969

 
747

 
1,367

 
—

 
 
1,501

 
2,365

 
2,068

 
2,081

Ratio of earnings to fixed charges
— (1)

 
— (2)

 
— (3)

 
— (4)

 
— (5)

 
— (6)

 
 
1.6 (7)

 
— (8)

 
— (9)

 
— (10)


(1)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $1.3 billion for the nine months ended December 31, 2015.
(2)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $3.7 billion for the nine months ended December 31, 2014.
(3)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $3.8 billion in the year ended March 31, 2015.
(4)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $75 million for the three months ended March 31, 2014.
(5)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $1.8 billion in the year ended 2013.
(6)
Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $23 million for the 87 days period ended December 31, 2012.
(7)
The income from continuing operations before income taxes for 191 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.
(8)
Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $3.3 billion in the year ended 2012.
(9)
Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $1.3 billion in the year ended 2011.
(10)
Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $1.9 billion in the year ended 2010.



 


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