EX-12 5 a2213083zex-12.htm EX-12

Exhibit 12

 

UNITED STATES CELLULAR CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

For the Year Ended December 31,

 

(Dollars in thousands)

 

2012

 

2011

 

2010

 

2009

 

2008

 

EARNINGS:

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes (1)

 

$

205,053

 

$

312,822

 

$

241,116

 

$

349,165

 

$

69,855

 

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of unconsolidated entities

 

(90,364

)

(83,566

)

(97,318

)

(96,800

)

(91,981

)

Distributions from unconsolidated entities

 

84,417

 

91,768

 

100,359

 

91,105

 

91,845

 

Amortization of capitalized interest

 

855

 

613

 

492

 

320

 

 

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

 

(30,122

)

(24,247

)

(23,869

)

(22,663

)

(26,131

)

 

 

169,839

 

297,390

 

220,780

 

321,127

 

43,588

 

Add fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Consolidated interest expense (2)

 

42,393

 

65,614

 

61,555

 

78,199

 

78,535

 

Interest portion (1/3) of consolidated rent expense

 

47,394

 

44,130

 

42,550

 

41,305

 

37,254

 

 

 

259,626

 

407,134

 

324,885

 

440,631

 

159,377

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

Consolidated interest expense (2)

 

42,393

 

65,614

 

61,555

 

78,199

 

78,535

 

Capitalized interest

 

17,930

 

10,064

 

2,446

 

1,647

 

2,805

 

Interest portion (1/3) of consolidated rent expense

 

47,394

 

44,130

 

42,550

 

41,305

 

37,254

 

 

 

$

107,717

 

$

119,808

 

$

106,551

 

$

121,151

 

$

118,594

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

2.41

 

3.40

 

3.05

 

3.64

 

1.34

 

 


(1)  Includes non-cash charges related to losses on impairment as follows: 2009: $14.0 million; 2008: $386.7 million.

 

       Includes (Gain) loss on sale of business and other exit costs, net as follows: 2012: $21.0 million.

 

       Includes loss on investment of $3.7 million in 2012 and gain on investment as follows: 2011: $11.4 million; 2008: $16.6 million.

 

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