AT&T INC. - FORM 10-Q - EX-12 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - November 3, 2017

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10-Q - AT&T 2017 FORM 10-Q - AT&T INC.q3_10q.htm
EX-32 - SECTION 1350 CERTIFICATIONS - 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-10.F - TERM LOAN CREDIT AGREEMENT - AT&T INC.ex10_f.htm
EX-10.D - AT&T HEALTH PLAN - AT&T INC.ex10_d.htm
EX-10.C - RESOLUTION REGARDING JOHN STEPHENS - AT&T INC.ex10_c.htm
EX-10.B - RESOLUTION REGARDING JOHN STANKEY - AT&T INC.ex10_b.htm
EX-10.A - RESOLUTION REGARDING JOHN DONOVAN - AT&T INC.ex10_a.htm
                                       
EXHIBIT 12
AT&T INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Dollars in Millions
 
     
Nine Months Ended
    
     
September 30,
  
Year Ended December 31,
     
(Unaudited)
    
     
2017
  
2016
  
2016
  
2015
  
2014
  
2013
    
2012
Earnings:
                                          
 
Income from continuing operations before income taxes
$
16,422
  
$
16,621
  
$
19,812
  
$
20,692
  
$
10,355
  
$
28,050
  
$
10,496
 
Equity in net loss (income) of affiliates included above
  
148
    
(57)
    
(98)
    
(79)
    
(175)
    
(642)
    
(752)
 
Fixed charges
  
6,235
    
5,465
    
7,296
    
6,592
    
5,295
    
5,452
    
4,876
 
Distributed income of equity affiliates
  
22
    
35
    
61
    
30
    
148
    
318
    
137
 
Interest capitalized
  
(718)
    
(669)
    
(892)
    
(797)
    
(234)
    
(284)
    
(263)
                                             
   
Earnings, as adjusted
$
22,109
  
$
21,395
  
$
26,179
  
$
26,438
  
$
15,389
  
$
32,894
  
$
14,494
                                             
Fixed Charges:
                                        
 
Interest expense
$
4,374
  
$
3,689
  
$
4,910
  
$
4,120
  
$
3,613
  
$
3,940
  
$
3,444
 
Interest capitalized
  
718
    
669
    
892
    
797
    
234
    
284
    
263
 
Portion of rental expense representative of interest factor
  
1,143
    
1,107
    
1,494
    
1,675
    
1,448
    
1,228
    
1,169
                                           
   
Fixed Charges
$
6,235
  
$
5,465
  
$
7,296
  
$
6,592
  
$
5,295
  
$
5,452
  
$
4,876
                                             
 
Ratio of Earnings to Fixed Charges
  
3.55
    
3.91
    
3.59
    
4.01
    
2.91
    
6.03
    
2.97


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