AT&T INC. - FORM 10-K - EX-12 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - February 17, 2017

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10-K - AT&T INC. 2016 FORM 10-K - AT&T INC.ye16_10k.htm
EX-32 - SECTION 1350 CERTIFICATION - AT&T INC.ex32.htm
EX-31.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - AT&T INC.ex31_2.htm
EX-31.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER - AT&T INC.ex31_1.htm
EX-24 - POWERS OF ATTORNEY - AT&T INC.ex24.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - AT&T INC.ex23.htm
EX-21 - SUBSIDIARIES OF AT&T INC. - AT&T INC.ex21.htm
EX-13 - AT&T INC. 2016 ANNUAL REPORT - AT&T INC.ex13.htm
EX-10.N - AT&T PENSION BENEFIT PLAN NO1 - AT&T INC.ex10_n.htm
EX-10.P - ADMINISTRATIVE PLAN - AT&T INC.ex10_p.htm
EX-10 - AT&T INC.ex10mm_ii.htm
EX-10.MM_I - TERM LOAN CREDIT AGREEMENT - AT&T INC.ex10mm_i.htm
EX-10.FF - AT&T EXECUTIVE PHYSICAL PROGRAM - AT&T INC.ex10_ff.htm
                           
EXHIBIT 12
  
AT&T INC.
  
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
  
Dollars in Millions
  
   
       
   
Year Ended December 31,
  
   
2016
    
2015
    
2014
    
2013
    
2012
  
Earnings:
                              
Income from continuing operations before income taxes
  
$
19,812 
   
$
20,692 
   
$
10,355 
     
$
28,050 
   
$
10,496 
 
Equity in net income of affiliates included above
    
(98)
 
    
(79)
 
    
(175)
 
    
(642)
 
    
(752)
 
Fixed charges
    
7,296 
     
6,592 
     
5,295 
     
5,452 
     
4,876 
 
Distributed income of equity affiliates
    
61 
     
30 
     
148 
     
318 
     
137 
 
Interest capitalized
    
(892)
 
    
(797)
 
    
(234)
 
    
(284)
 
    
(263)
 
                                         
Earnings, as adjusted
  
$
26,179 
   
$
26,438 
   
$
15,389 
   
$
32,894 
   
$
14,494 
 
                                         
Fixed Charges:
                                        
Interest expense
  
$
4,910 
   
$
4,120 
   
$
3,613 
   
$
3,940 
   
$
3,444 
 
Interest capitalized
    
892 
     
797 
     
234 
     
284 
     
263 
 
Portion of rental expense representative of interest factor
    
1,494 
     
1,675 
     
1,448 
     
1,228 
     
1,169 
 
                                         
Fixed Charges
  
$
7,296 
   
$
6,592 
   
$
5,295 
   
$
5,452 
   
$
4,876 
 
                                         
Ratio of Earnings to Fixed Charges
    
3.59 
     
4.01 
     
2.91 
     
6.03 
     
2.97 
 
                                         

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