Attached files

file filename
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
EX-31.1 - EX-31.1 - TELEPHONE & DATA SYSTEMS INC /DE/exhibit31_1.htm
EX-18 - EX-18 - TELEPHONE & DATA SYSTEMS INC /DE/exhibit18.htm
10-Q - 10-Q - TELEPHONE & DATA SYSTEMS INC /DE/tds10q.htm

 

 


Exhibit 12

TELEPHONE AND DATA SYSTEMS, INC.

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

March 31,

 

 

 

 

 

2017

 

2016

(Dollars in millions)

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

Income before income taxes1

$

77 

 

$

23 

 

Add (deduct):

 

 

 

 

 

 

 

Equity in earnings of unconsolidated entities

 

(32)

 

 

(35)

 

 

Distributions from unconsolidated entities

 

11 

 

 

14 

 

 

Amortization of capitalized interest

 

2 

 

 

2 

 

 

Income attributable to noncontrolling interests in subsidiaries

  that do not have fixed charges

 

 

 

 

(1)

 

 

 

 

 

$

58 

 

$

3 

 

Add fixed charges:

 

 

 

 

 

 

 

Consolidated interest expense2

 

42 

 

 

41 

 

 

Interest portion (1/3) of consolidated rent expense

 

16 

 

 

15 

 

 

 

 

 

$

116 

 

$

59 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

Consolidated interest expense2

$

42 

 

$

41 

 

 

Capitalized interest

 

 

 

 

1 

 

 

Interest portion (1/3) of consolidated rent expense

 

16 

 

 

15 

 

 

 

 

 

$

58 

 

$

57 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES3

 

2.00 

 

 

1.03 

 

 

 

 

 

 

 

 

 

 

1

Includes $17 million of Gain on license sales and exchanges, net in 2017.

 

 

 

 

 

 

 

 

 

 

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 2.00 and 1.03 for the three months ended March 31, 2017 and 2016, respectively.