SPRINT Corp - FORM 10-Q - EX-12 - RATIO OF EARNINGS TO COMBINED FIXED CHARGES - August 3, 2017

Attached files

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EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 1350 - SPRINT Corpsprintcorpjune-2017ex322.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 1350 - SPRINT Corpsprintcorpjune-2017ex321.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO RULE 13A-14(A) - SPRINT Corpsprintcorpjune-2017ex312.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO RULE 13A-14(A) - SPRINT Corpsprintcorpjune-2017ex311.htm
EX-10.6 - FORM OF AWARD AGREE. (PERF-BASED RSU) WITH COVENANTS AND REST. TO EXEC OFFICERS - SPRINT Corpsprintcorpjune-2017ex106.htm
EX-10.5 - FORM OF AWARD AGREE. (RSU) WITH COVENANTS AND REST. TO EXECUTIVE OFFICERS - SPRINT Corpsprintcorpjune-2017ex105.htm
EX-10.4 - FORM OF AWARD AGREE. (STOCK OPTIONS) WITH SPECIAL COMP ARRANGEMENTS - SPRINT Corpsprintcorpjune-2017ex104.htm
EX-10.3 - FORM OF AWARD AGREE. (STOCK OPTIONS) WITHOUT SPECIAL COMP ARRANGEMENTS - SPRINT Corpsprintcorpjune-2017ex103.htm
EX-10.2 - FORM OF TURNAROUND INCENTIVE AWARD (PERF-BASED RSU) OMNIBUS INCENTIVE PLAN - SPRINT Corpsprintcorpjune-2017ex102.htm
EX-10.1 - EMPLOYMENT AGREEMENT WITH YURIKO ISHIHARA DATED APRIL 13, 2017 - SPRINT Corpsprintcorpjune-2017ex101.htm
EX-4.1 - TWELFTH SUPPLEMENTAL INDENTURE DATED JUNE 30, 2017 - SPRINT Corpsprintcorpjune-2017ex41.htm
10-Q - FORM 10-Q - SPRINT Corpsprintcorp6-30x1710q.htm


Exhibit 12
Computation of Ratio of Earnings to Fixed Charges
 
 
Successor
 
 
Predecessor
 
Three Months Ended
June 30,
 
Three Months Ended June 30,
 
Year Ended
March 31,
 
Year Ended
March 31,
 
Year Ended
March 31,
 
Three Months Ended
March 31,
 
Year
Ended
December 31,
 
87 Days Ended
December 31,
 
 
191 Days Ended
July 10,
 
Year
Ended
December 31,
 
2017
 
2016
 
2017
 
2016
 
2015
 
2014
 
2013
 
2012
 
 
2013
 
2012
 
(in millions)
Earnings (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
498

 
$
(246
)
 
$
(771
)
 
$
(1,854
)
 
$
(3,919
)
 
$
(95
)
 
$
(1,815
)
 
$
(23
)
 
 
$
443

 
$
(4,172
)
Equity in losses of unconsolidated investments, net
3

 
—

 
2

 
—

 
—

 
—

 
—

 
—

 
 
482

 
1,114

Fixed charges
845


903

 
3,561

 
3,212


2,969

 
747

 
1,367

 
—

 
 
1,501

 
2,365

Interest capitalized
(15
)

(10
)
 
(44
)
 
(51
)

(56
)
 
(13
)
 
(30
)
 
—

 
 
(29
)
 
(278
)
Amortization of interest capitalized
33

 
33

 
131

 
133

 
133

 
33

 
56

 
—

 
 
71

 
81

Earnings (loss), as adjusted
$
1,364


$
680

 
$
2,879

 
$
1,440


$
(873
)
 
$
672

 
$
(422
)
 
$
(23
)
 
 
$
2,468

 
$
(890
)
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
613

 
$
615

 
$
2,495

 
$
2,182

 
$
2,051

 
$
516

 
$
918

 
$
—

 
 
$
1,135

 
$
1,428

Interest capitalized
15

 
10

 
44

 
51

 
56

 
13

 
30

 
—

 
 
29

 
278

Portion of rentals representative of interest
217

 
278

 
1,022

 
979

 
862

 
218

 
419

 
—

 
 
337

 
659

Fixed charges
$
845


$
903

 
$
3,561

 
$
3,212


$
2,969

 
$
747

 
$
1,367

 
$
—

 
 
$
1,501

 
$
2,365

Ratio of earnings to fixed charges
1.6

 
— (1)

 
— (2)

 
— (3)

 
— (4)

 
— (5)

 
— (6)

 
— (7)

 
 
1.6 (8)

 
— (9)



(1)
Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $223 million for the three months ended June 30, 2016.
(2)
Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $682 million for the year ended March 31, 2017.
(3)
Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $1.8 billion for the year ended March 31, 2016.
(4)
Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $3.8 billion for the year ended March 31, 2015.
(5)
Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $75 million for the three months ended March 31, 2014.
(6)
Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $1.8 billion for the year ended December 2013.
(7)
Successor earnings (loss), as adjusted, were inadequate to cover fixed charges by $23 million for the 87 days ended December 31, 2012.
(8)
The income from continuing operations before income taxes for the 191 days 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.
(9)
Predecessor earnings (loss), as adjusted, were inadequate to cover fixed charges by $3.3 billion for the year ended December 31, 2012.
.




 


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