Attached files
| file | filename |
|---|---|
| 10-K - 10-K - UNITED STATES CELLULAR CORP | a2196627z10-k.htm |
| EX-13 - EXHIBIT 13 - UNITED STATES CELLULAR CORP | a2196627zex-13.htm |
| EX-21 - EXHIBIT 21 - UNITED STATES CELLULAR CORP | a2196627zex-21.htm |
| EX-32.1 - EXHIBIT 32.1 - UNITED STATES CELLULAR CORP | a2196627zex-32_1.htm |
| EX-32.2 - EXHIBIT 32.2 - UNITED STATES CELLULAR CORP | a2196627zex-32_2.htm |
| EX-23.1 - EXHIBIT 23.1 - UNITED STATES CELLULAR CORP | a2196627zex-23_1.htm |
| EX-31.1 - EXHIBIT 31.1 - UNITED STATES CELLULAR CORP | a2196627zex-31_1.htm |
| EX-31.2 - EXHIBIT 31.2 - UNITED STATES CELLULAR CORP | a2196627zex-31_2.htm |
| EX-23.2 - EXHIBIT 23.2 - UNITED STATES CELLULAR CORP | a2196627zex-23_2.htm |
| EX-4.3(B) - EXHBIT 4.3(B) - UNITED STATES CELLULAR CORP | a2196627zex-4_3b.htm |
Exhibit 12
UNITED STATES CELLULAR CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
For the Year Ended December 31
|
(Dollars in thousands) |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
2005 |
|
|||||
|
EARNINGS: |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Income before income taxes(1) |
|
$ |
351,879 |
|
$ |
66,128 |
|
$ |
546,501 |
|
$ |
313,138 |
|
$ |
261,347 |
|
|
Add (deduct): |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Equity in earnings of unconsolidated entities |
|
(96,800 |
) |
(91,981 |
) |
(90,033 |
) |
(93,119 |
) |
(66,719 |
) |
|||||
|
Distributions from unconsolidated entities |
|
91,105 |
|
91,845 |
|
86,873 |
|
77,835 |
|
52,112 |
|
|||||
|
Amortization of capitalized interest |
|
320 |
|
— |
|
— |
|
— |
|
— |
|
|||||
|
Income attributable to noncontrolling interests in subsidiaries that do not have fixed charges |
|
(22,663 |
) |
(26,131 |
) |
(23,481 |
) |
(15,999 |
) |
(12,478 |
) |
|||||
|
|
|
$ |
323,841 |
|
$ |
39,861 |
|
$ |
519,860 |
|
$ |
281,855 |
|
$ |
234,262 |
|
|
Add fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Consolidated interest expense(2) |
|
76,367 |
|
77,190 |
|
84,679 |
|
93,674 |
|
84,867 |
|
|||||
|
Interest portion (1/3) of consolidated rent expense |
|
39,135 |
|
37,585 |
|
35,461 |
|
30,659 |
|
30,142 |
|
|||||
|
|
|
$ |
439,343 |
|
$ |
154,636 |
|
$ |
640,000 |
|
$ |
406,188 |
|
$ |
349,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
FIXED CHARGES: |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Consolidated interest expense(2) |
|
76,367 |
|
77,190 |
|
$ |
84,679 |
|
$ |
93,674 |
|
$ |
84,867 |
|
||
|
Capitalized interest |
|
1,647 |
|
2,805 |
|
— |
|
— |
|
— |
|
|||||
|
Interest portion (1/3) of consolidated rent expense |
|
39,135 |
|
37,585 |
|
35,461 |
|
30,659 |
|
30,142 |
|
|||||
|
|
|
$ |
117,149 |
|
$ |
117,580 |
|
$ |
120,140 |
|
$ |
124,333 |
|
$ |
115,009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
RATIO OF EARNINGS TO FIXED CHARGES |
|
3.75 |
|
1.32 |
|
5.33 |
|
3.27 |
|
3.04 |
|
|||||
(1) Includes non-cash charges related to losses on impairments as follows: 2009: $14.0 million; 2008: $386.7 million; 2007: $24.9 million.
Includes fair value adjustment of derivative instruments and gain on disposition of investments as follows: 2008: $16.6 million; 2007: $132.6 million; 2006: $7.4 million; 2005: $38.8 million.
(2) Interest expense on income tax contingencies is not included in fixed charges.