Attached files

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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
10-Q - 10-Q - UNITED STATES CELLULAR CORPusm10q.htm

 

 


Exhibit 12

UNITED STATES CELLULAR CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

Six Months Ended

 

 

 

 

 

June 30,

 

 

 

 

 

2018

 

2017

(Dollars in millions)

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

Income before income taxes1

$

147 

 

$

73 

 

Add (deduct):

 

 

 

 

 

 

 

Equity in earnings of unconsolidated entities

 

(78)

 

 

(66)

 

 

Distributions from unconsolidated entities

 

70 

 

 

65 

 

 

Amortization of capitalized interest

 

3 

 

 

3 

 

 

Income attributable to noncontrolling interests in subsidiaries

  that do not have fixed charges

 

(13)

 

 

 

 

 

 

 

 

$

129 

 

$

75 

 

Add fixed charges:

 

 

 

 

 

 

 

Consolidated interest expense2

 

58 

 

 

56 

 

 

Interest portion (1/3) of consolidated rent expense

 

29 

 

 

27 

 

 

 

 

 

$

216 

 

$

158 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

Consolidated interest expense2

$

58 

 

$

56 

 

 

Interest portion (1/3) of consolidated rent expense

 

29 

 

 

27 

 

 

 

 

 

$

87 

 

$

83 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

2.48 

 

 

1.90 

 

 

 

 

 

 

 

 

 

 

1

Amounts include $17 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.