Exhibit 12

TELEPHONE AND DATA SYSTEMS, INC.

RATIO OF EARNINGS TO FIXED CHARGES

	Six Months Ended June 30,
	2008			2007
	(Dollars in Thousands)
EARNINGS:
Income before income taxes and minority interest	$	299,283		$	426,820
Add (deduct):
Equity in earnings of unconsolidated entities	(44,379		)	(47,571		)
Distributions from unconsolidated entities	45,810			43,435
Minority interests in pre-tax income of subsidiaries that do not have fixed charges	(10,158		)	(7,826		)
	290,556			414,858
Add fixed charges:
Consolidated interest expense (1)	76,950			113,046
Interest portion (1/3) of consolidated rent expense	23,260			22,877
	$	390,766		$	550,781
FIXED CHARGES:
Consolidated interest expense(1)	$	76,950		$	113,046
Capitalized interest	546			333
Interest portion (1/3) of consolidated rent expense	23,260			22,877
	$	100,756		$	136,256
RATIO OF EARNINGS TO FIXED CHARGES	3.88			4.04
Tax-effected preferred dividends	$	43		$	43
Fixed charges	100,756			136,256
Fixed charges and preferred dividends	$	100,799		$	136,299
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS	3.88			4.04

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