Sprint - Nextel 2015 Annual Report Download - page 391

Exhibit 12
Computation of Ratio of Earnings to Fixed Charges
Successor
Predecessor
Year Ended
March 31,
Year
Ended
March 31,
Three
Months
Ended
March 31,
Three
Months
Ended
March 31,
Year Ended
December 31,
87 Days Ended
December 31,
191 Days
Ended
July 10,
Three
Months
Ended
March 31,
Years Ended
December 31,
2016
2015
2014
2013
2013
2012
2013
2013
2012
2011
(in millions)
Earnings (loss):
(Loss) income from continuing operations before
income taxes $ (1,854)
$(3,919)
$(95)
$(8)
$(1,815)
$(23)
$ 443
$(605)
$(4,172)
$(2,636)
Equity in losses of unconsolidated investments,
net —
—
—
—
—
—
482
202
1,114
1,730
Fixed charges 3,212
2,969
747 —
1,367
—
1,501
608
2,365
2,068
Interest capitalized (51)
(56)
(13) —
(30)
—
(29)
(15)
(278)
(413)
Amortization of interest capitalized 133
133
33
—
56
—
71
33
81
48
Earnings (loss), as adjusted 1,440 (873)
672 (8)
(422)
(23)
2,468
223
(890)
797
Fixed charges:
Interest expense 2,182
2,051
516
—
918
—
1,135
432
1,428
1,011
Interest capitalized 51
56
13
—
30
—
29
15
278
413
Portion of rentals representative of interest 979
862
218
—
419
—
337
161
659
644
Fixed charges 3,212
2,969
747 —
1,367
—
1,501
608
2,365
2,068
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 $1.8 billion in the year ended March 31, 2016.
(2) Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $3.8 billion in the year ended March 31, 2015.
(3) Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $75 million for the three months ended March 31, 2014.
(4) Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $8 million for the three months ended March 31, 2013.
(5) Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $1.8 billion in the year ended December 31, 2013.
(6) Successor earnings (loss), as adjusted were inadequate to cover fixed charges by $23 million for the 87 days ended December 31, 2012.
(7) The income from continuing operations before 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.
(8) Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $385 million for the three months ended March 31, 2013.
(9) Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $3.3 billion in the year ended 2012.
(10) Predecessor earnings (loss), as adjusted were inadequate to cover fixed charges by $1.3 billion in the year ended 2011.