<TABLE>
<CAPTION>
EXHIBIT 12
SBC COMMUNICATIONS INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Dollars in Millions
SIX MONTHS ENDED
JUNE 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* $ 5,732 $ 5,678 $ 10,382 $ 11,859 $ 6,356 $ 8,789 $ 8,139
Add: Interest Expense 772 704 1,430 1,605 1,550 1,418 1,513
Dividends on Preferred Securities 52 51 118 114 98 68 6
1/3 Rental Expense 129 112 236 228 202 188 152
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Adjusted Earnings $ 6,685 $ 6,545 $ 12,166 $ 13,806 $ 8,206 $ 10,463 $ 9,810
========== ========== ========== ========== ========== ========== ==========
Total Interest Charges $ 814 $ 746 $ 1,511 $ 1,691 $ 1,700 $ 1,589 $ 1,533
Dividends on Preferred Securities 52 51 118 114 98 68 6
1/3 Rental Expense 129 112 236 228 202 188 152
---------- ---------- ---------- ---------- ---------- ---------- ----------
Adjusted Fixed Charges $ 995 $ 909 $ 1,865 $ 2,033 $ 2,000 $ 1,845 $ 1,691
========== ========== ========== ========== ========== ========== ==========
Ratio of Earnings to Fixed Charges 6.72 7.20 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>
