UNITED STATES CELLULAR CORP - FORM 10-Q - EX-12 - EXHIBIT 12 - November 2, 2018

Attached files

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EX-32.2 - EXHIBIT 32.2 - UNITED STATES CELLULAR CORPusm9302018ex322.htm
EX-32.1 - EXHIBIT 32.1 - UNITED STATES CELLULAR CORPusm9302018ex321.htm
EX-31.2 - EXHIBIT 31.2 - UNITED STATES CELLULAR CORPusm9302018ex312.htm
EX-31.1 - EXHIBIT 31.1 - UNITED STATES CELLULAR CORPusm9302018ex311.htm
10-Q - 10-Q - UNITED STATES CELLULAR CORPusm930201810q.htm


Exhibit 12
UNITED STATES CELLULAR CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
 
 
Nine Months Ended
September 30,
 
2018
 
2017
(Dollars in millions)
 
 
 
EARNINGS:
 

 
 

Income (loss) before income taxes1
$
198

 
$
(278
)
Add (deduct):
 
 
 
Equity in earnings of unconsolidated entities
(120
)
 
(101
)
Distributions from unconsolidated entities
90

 
85

Amortization of capitalized interest
4

 
5

Income attributable to noncontrolling interests in subsidiaries
  that do not have fixed charges
(14
)
 
—

 
$
158

 
$
(289
)
Add fixed charges:
 
 
 
Consolidated interest expense2
87

 
85

Interest portion (1/3) of consolidated rent expense
43

 
41

 
$
288

 
$
(163
)
 
 
 
 
FIXED CHARGES:
 
 
 
Consolidated interest expense2
$
87

 
$
85

Interest portion (1/3) of consolidated rent expense
43

 
41

 
$
130

 
$
126

 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
2.22

 
*


1
Includes Loss on impairment of goodwill of $370 million in 2017. Amount also includes $18 million and $19 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.
*
Earnings in 2017 were inadequate to cover Fixed charges by $289 million.


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