EX-12 2 exhibit12.htm EX-12 exhibit12.htm - Generated by SEC Publisher for SEC Filing  

 

 

 

 

 

 

 

 

 

 

Exhibit 12

TELEPHONE AND DATA SYSTEMS, INC.

RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended

 

 

 

 

 

September 30,

 

 

 

 

 

2012 

 

2011 

(Dollars in thousands)

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

Income before income taxes

$

249,282 

 

$

347,519 

 

Add (deduct):

 

 

 

 

 

 

 

Equity in earnings of unconsolidated entities

 

(73,796)

 

 

(64,031)

 

 

Distributions from unconsolidated entities

 

45,558 

 

 

52,385 

 

 

Amortization of capitalized interest

 

1,220 

 

 

849 

 

 

Income attributable to noncontrolling interests in subsidiaries that do not have fixed charges

 

(18,072)

 

 

(17,316)

 

 

 

 

 

 

204,192 

 

 

319,406 

 

Add fixed charges:

 

 

 

 

 

 

 

Consolidated interest expense (1)

 

68,100 

 

 

94,184 

 

 

Interest portion (1/3) of consolidated rent expense

 

42,541 

 

 

39,134 

 

 

 

 

 

$

314,833 

 

$

452,724 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

Consolidated interest expense (1)

$

68,100 

 

$

94,184 

 

 

Capitalized interest

 

15,242 

 

 

9,733 

 

 

Interest portion (1/3) of consolidated rent expense

 

42,541 

 

 

39,134 

 

 

 

 

 

$

125,883 

 

$

143,051 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

2.50 

 

 

3.16 

 

 

 

 

 

 

 

 

 

 

 

 

Tax-effected preferred dividends

$

57 

 

$

50 

 

 

Fixed charges

 

125,883 

 

 

143,051 

 

 

Fixed charges and preferred dividends

$

125,940 

 

$

143,101 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS

 

2.50 

 

 

3.16 

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