Attached files

file filename
10-Q - 10-Q - UNITED STATES CELLULAR CORPusm10q.htm
EX-32.2 - EX-32.2 - UNITED STATES CELLULAR CORPusmexhibit32_2.htm
EX-32.1 - EX-32.1 - UNITED STATES CELLULAR CORPusmexhibit32_1.htm
EX-31.2 - EX-31.2 - UNITED STATES CELLULAR CORPusmexhibit31_2.htm
EX-31.1 - EX-31.1 - UNITED STATES CELLULAR CORPusmexhibit31_1.htm

 

 


Exhibit 12

UNITED STATES CELLULAR CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

March 31,

 

 

 

 

 

2018

 

2017

(Dollars in millions)

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

Income before income taxes1

$

77 

 

$

61 

 

Add (deduct):

 

 

 

 

 

 

 

Equity in earnings of unconsolidated entities

 

(38)

 

 

(33)

 

 

Distributions from unconsolidated entities

 

17 

 

 

11 

 

 

Amortization of capitalized interest

 

2 

 

 

2 

 

 

Income attributable to noncontrolling interests in subsidiaries

  that do not have fixed charges

 

(10)

 

 

 

 

 

 

 

 

$

48 

 

$

41 

 

Add fixed charges:

 

 

 

 

 

 

 

Consolidated interest expense2

 

29 

 

 

28 

 

 

Interest portion (1/3) of consolidated rent expense

 

15 

 

 

14 

 

 

 

 

 

$

92 

 

$

83 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

Consolidated interest expense2

$

29 

 

$

28 

 

 

Interest portion (1/3) of consolidated rent expense

 

15 

 

 

14 

 

 

 

 

 

$

44 

 

$

42 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

2.09 

 

 

1.98 

 

 

 

 

 

 

 

 

 

 

1

Amounts include $7 million and $17 million of Gain on license sales and exchanges, net in 2018 and 2017, respectively.

 

 

 

 

 

 

 

 

 

 

2

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