Attached files
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| EX-31.1 - EX-31.1 - UNITED STATES CELLULAR CORP | ex31_1.htm |
| EXCEL - IDEA: XBRL DOCUMENT - UNITED STATES CELLULAR CORP | Financial_Report.xls |
| EX-32.2 - EX-32.2 - UNITED STATES CELLULAR CORP | ex32_2.htm |
| EX-32.1 - EX-32.1 - UNITED STATES CELLULAR CORP | ex32_1.htm |
| EX-31.2 - EX-31.2 - UNITED STATES CELLULAR CORP | ex31_2.htm |
| 10-Q - 10-Q - UNITED STATES CELLULAR CORP | usm_form10q.htm |
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Exhibit 12 |
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UNITED STATES CELLULAR CORPORATION RATIO OF EARNINGS TO FIXED CHARGES |
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Nine Months Ended |
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September 30, |
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2014 |
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2013 |
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(Dollars in thousands) |
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EARNINGS: |
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Income before income taxes (1) |
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(24,072) |
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$ |
266,402 |
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Add (deduct): |
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Equity in earnings of unconsolidated entities |
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(106,166) |
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(99,797) |
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Distributions from unconsolidated entities |
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74,853 |
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49,612 |
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Amortization of capitalized interest |
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4,816 |
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1,920 |
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Income attributable to noncontrolling interests in subsidiaries |
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that do not have fixed charges |
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(935) |
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(6,914) |
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$ |
(51,504) |
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$ |
211,223 |
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Add fixed charges: |
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Consolidated interest expense (2) |
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42,712 |
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32,393 |
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Interest portion (1/3) of consolidated rent expense |
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24,179 |
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30,551 |
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$ |
15,387 |
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$ |
274,167 |
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FIXED CHARGES: |
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Consolidated interest expense (2) |
$ |
42,712 |
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$ |
32,393 |
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Capitalized interest |
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3,720 |
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14,259 |
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Interest portion (1/3) of consolidated rent expense |
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24,179 |
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30,551 |
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$ |
70,611 |
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$ |
77,203 |
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RATIO OF EARNINGS TO FIXED CHARGES |
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3.55 |
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(1) |
Includes Gain on license sales and exchanges of $91.4 million and Gain on sale of business and other exit costs, net of $27.7 million in 2014, and Gain on sale of business and other exit costs, net of $243.6 million in 2013. |
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(2) |
Interest expense on income tax contingencies is not included in fixed charges. |
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* |
Earnings for the nine months ended September 30, 2014 were inadequate to cover Fixed charges by $55.2 million. |
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