Attached files
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| EXCEL - IDEA: XBRL DOCUMENT - UNITED STATES CELLULAR CORP | Financial_Report.xls |
| EX-32.2 - EX-32.2 - UNITED STATES CELLULAR CORP | exhibit32_2.htm |
| EX-31.1 - EX-31.1 - UNITED STATES CELLULAR CORP | exhibit31_1.htm |
| EX-31.2 - EX-31.2 - UNITED STATES CELLULAR CORP | exhibit31_2.htm |
| EX-32.1 - EX-32.1 - UNITED STATES CELLULAR CORP | exhibit32_1.htm |
| 10-Q - 10-Q - UNITED STATES CELLULAR CORP | form_10Q.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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Six Months Ended |
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June 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) |
$ |
1,158 |
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$ |
282,436 |
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Add (deduct): |
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Equity in earnings of unconsolidated entities |
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(70,195) |
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(62,437) |
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Distributions from unconsolidated entities |
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65,565 |
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45,370 |
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Amortization of capitalized interest |
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2,800 |
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878 |
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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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(819) |
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(6,328) |
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$ |
(1,491) |
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$ |
259,919 |
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Add fixed charges: |
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Consolidated interest expense (2) |
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29,198 |
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21,064 |
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Interest portion (1/3) of consolidated rent expense |
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16,276 |
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22,176 |
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$ |
43,983 |
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$ |
303,159 |
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FIXED CHARGES: |
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Consolidated interest expense (2) |
$ |
29,198 |
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$ |
21,064 |
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Capitalized interest |
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1,982 |
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10,208 |
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Interest portion (1/3) of consolidated rent expense |
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16,276 |
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22,176 |
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$ |
47,456 |
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$ |
53,448 |
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RATIO OF EARNINGS TO FIXED CHARGES |
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5.67 |
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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 $17.4 million in 2014, and Gain on sale of business and other exit costs, net of $242.1 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 six months ended June 30, 2014 were inadequate to cover fixed charges by $3.5 million. |
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