Attached files

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EX-31.1 - EX-31.1 - TELEPHONE & DATA SYSTEMS INC /DE/exhibit31_1.htm
10-Q - 10-Q - TELEPHONE & DATA SYSTEMS INC /DE/tds_form10q.htm
EX-32.2 - EX-32.2 - TELEPHONE & DATA SYSTEMS INC /DE/exhibit32_2.htm
EX-32.1 - EX-32.1 - TELEPHONE & DATA SYSTEMS INC /DE/exhibit32_1.htm
EX-31.2 - EX-31.2 - TELEPHONE & DATA SYSTEMS INC /DE/exhibit31_2.htm

 

 


Exhibit 12

TELEPHONE AND DATA SYSTEMS, INC.

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

Six Months Ended

 

 

 

 

 

June 30,

 

 

 

 

 

2016

 

2015

(Dollars in millions)

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

Income before income taxes1

$

73 

 

$

336 

 

Add (deduct):

 

 

 

 

 

 

 

Equity in earnings of unconsolidated entities

 

(72)

 

 

(70)

 

 

Distributions from unconsolidated entities

 

30 

 

 

27 

 

 

Amortization of capitalized interest

 

4 

 

 

4 

 

 

Income attributable to noncontrolling interests in subsidiaries

  that do not have fixed charges

 

 

 

 

(6)

 

 

 

 

 

 

35 

 

 

291 

 

Add fixed charges:

 

 

 

 

 

 

 

Consolidated interest expense2

 

85 

 

 

68 

 

 

Interest portion (1/3) of consolidated rent expense

 

31 

 

 

31 

 

 

 

 

 

$

151 

 

$

390 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

Consolidated interest expense2

$

85 

 

$

68 

 

 

Capitalized interest

 

1 

 

 

3 

 

 

Interest portion (1/3) of consolidated rent expense

 

31 

 

 

31 

 

 

 

 

 

$

117 

 

$

102 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES3

 

1.29 

 

 

3.82 

 

 

 

 

 

 

 

 

 

 

1

Includes Gain on sale of business and other exit costs, net of $129 million in 2015.  Additionally, includes $9 million and $123 million of Gain on license sales and exchanges, net in 2016 and 2015, respectively.

 

 

 

 

 

 

 

 

 

 

2

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

 

 

 

 

 

 

 

 

 

 

3

Ratio of earnings to fixed charges and preferred dividends was also 1.29 and 3.82 for the six months ended June 30, 2016 and 2015, respectively.