EX-12 2 exhibit12.htm EX-12  

 

 

 

 

 

 

 

 

 

 

Exhibit 12

UNITED STATES CELLULAR CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

March 31,

 

 

 

 

 

2013

 

2012

(Dollars in thousands)

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

Income before income taxes (1)

$

 18,079  

 

$

 94,650  

 

Add (deduct):

 

 

 

 

 

 

 

Equity in earnings of unconsolidated entities

 

 (26,835) 

 

 

 (21,614) 

 

 

Distributions from unconsolidated entities

 

 5,836  

 

 

 2,822  

 

 

Amortization of capitalized interest

 

 251  

 

 

 205  

 

 

Income attributable to noncontrolling interests in subsidiaries

 

 

 

 

 

 

 

 

that do not have fixed charges

 

 (5,921) 

 

 

 (6,702) 

 

 

 

 

 

$

 (8,590) 

 

$

 69,361  

 

Add fixed charges:

 

 

 

 

 

 

 

Consolidated interest expense (2)

 

 10,910  

 

 

 13,411  

 

 

Interest portion (1/3) of consolidated rent expense

 

 11,979  

 

 

 11,360  

 

 

 

 

 

$

 14,299  

 

$

 94,132  

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

Consolidated interest expense (2)

$

 10,910  

 

$

 13,411  

 

 

Capitalized interest

 

 4,722  

 

 

 2,423  

 

 

Interest portion (1/3) of consolidated rent expense

 

 11,979  

 

 

 11,360  

 

 

 

 

 

$

 27,611  

 

$

 27,194  

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

 0.52  

 

 

 3.46  

 

 

 

 

 

 

 

 

 

 

 

(1)

Includes loss on sale of business and other exit costs, net of $6.9 million in 2013 and gain on sale of business and other exit costs, net of $4.2 million in 2012.

 

 

 

 

 

 

 

 

 

 

 

(2)

Interest expense on income tax contingencies is not included in fixed charges.