<TABLE>
<CAPTION>
EXHIBIT 12
SBC COMMUNICATIONS INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Dollars in Millions
NINE MONTHS ENDED
SEPTEMBER 30, YEAR ENDED DECEMBER 31,
--------------------- ------------------------------------------------------
2000 1999 1999 1998 1997 1996 1995
---------- ---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Income Before Income Taxes,Extraordinary
Items and Cumulative Effect of
Accounting Changes* $ 10,234 $ 7,773 $ 10,382 $ 11,859 $ 6,356 $ 8,789 $ 8,139
Add: Interest Expense 1,194 1,069 1,430 1,605 1,550 1,418 1,513
Dividends on Preferred
Securities 78 56 118 114 98 68 6
1/3 Rental Expense 189 164 236 228 202 188 152
---------- ---------- ---------- ---------- ---------- ---------- ----------
Adjusted Earnings $ 11,695 $ 9,062 $ 12,166 $ 13,806 $ 8,206 $ 10,463 $ 9,810
========== ========== ========== ========== ========== ========== ==========
Total Interest Charges $ 1,261 $ 1,132 $ 1,511 $ 1,691 $ 1,700 $ 1,589 $ 1,533
Dividends on Preferred Securities 78 56 118 114 98 68 6
1/3 Rental Expense 189 164 236 228 202 188 152
---------- ---------- ---------- ---------- ---------- ---------- ----------
Adjusted Fixed Charges $ 1,528 $ 1,352 $ 1,865 $ 2,033 $ 2,000 $ 1,845 $ 1,691
========== ========== ========== ========== ========== ========== ==========
Ratio of Earnings to Fixed Charges 7.65 6.70 6.52 6.79 4.10 5.67 5.80
<FN>
*Undistributed earnings on investments accounted for under the equity method
have been excluded.
</FN>
</TABLE>
