This excerpt taken from the T 8-K filed Nov 17, 2006.
RATIO OF EARNINGS TO FIXED CHARGES
AT&Ts pro forma ratio of earnings to fixed charges for the nine-month period ended
September 30, 2006 was 3.74. At September 30, 2006 no preferred stock was outstanding.
The pro forma calculation of ratio of earnings to fixed charges for the nine-month period ended September 30, 2006 is derived from the historical consolidated financial statements of AT&T, BellSouth and Cingular using the purchase method of accounting. AT&T is treated as the acquirer and assumes the acquisition of BellSouth had been completed on January 1, 2005. For purposes of calculating this ratio, the undistributed earnings from equity investments held by the above mentioned companies are included.
The historical ratios of earnings to fixed charges for each of the five years ended December 31, 2005 and for the nine months ended September 30, 2005 and 2006 are set forth in AT&Ts Quarterly Report on Form 10-Q for the quarter ended September 30, 2006, which is incorporated by reference herein.