AT&T INC. - FORM 10-K - EX-12 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - February 20, 2018

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EX-10.B_II - RESOLUTION REGARDING JOHN STANKEY - AT&T INC.ex10b_ii.htm
10-K - AT&T INC. 2017 FORM 10-K - AT&T INC.ye17_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. 2017 ANNUAL REPORT - AT&T INC.ex13.htm
EX-10.N - AT&T HEALTH PLAN - AT&T INC.ex10_n.htm
EX-10.J - STOCK PURCHASE AND DEFERRAL PLAN - AT&T INC.ex10_j.htm
EX-10.D - SHORT TERM INCENTIVE PLAN - AT&T INC.ex10_d.htm
EX-10.B_III - RESOLUTION REGARDING JOHN STEPHENS - AT&T INC.ex10b_iii.htm
EX-10.B_I - RESOLUTION REGARDING JOHN DONOVAN - AT&T INC.ex10b_i.htm
EX-10.A - 2018 INCENTIVE PLAN - AT&T INC.ex10_a.htm

                             
EXHIBIT 12
AT&T INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Dollars in Millions
 
         
       
Year Ended December 31,
 
       
2017
  
2016
  
2015
  
2014
    
2013
Earnings:
                                
 
Income from continuing operations before income taxes
  
$
15,139
  
$
19,812
  
$
20,692
  
$
10,355
  
$
28,050
 
Equity in net (income) loss of affiliates included above
    
                     128
    
(98)
    
(79)
    
(175)
    
(642)
 
Fixed charges
    
8,854
    
7,296
    
6,592
    
5,295
    
5,452
 
Distributed income of equity affiliates
    
46
    
61
    
30
    
148
    
318
 
Interest capitalized
    
(903)
    
(892)
    
(797)
    
(234)
    
(284)
                                   
   
Earnings, as adjusted
  
$
23,264
  
$
26,179
  
$
26,438
  
$
15,389
  
$
32,894
                                   
Fixed Charges:
                                
 
Interest expense
  
$
6,300
  
$
4,910
  
$
4,120
  
$
3,613
  
$
3,940
 
Interest capitalized
    
903
    
892
    
797
    
234
    
284
 
Portion of rental expense representative of interest factor
    
1,651
    
1,494
    
1,675
    
1,448
    
1,228
                                 
   
Fixed Charges
  
$
8,854
  
$
7,296
  
$
6,592
  
$
5,295
  
$
5,452
                                   
 
Ratio of Earnings to Fixed Charges
    
2.63
    
3.59
    
4.01
    
2.91
    
6.03

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