TELEPHONE AND DATA SYSTEMS, INC.
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars In Thousands)
| | 12 Months Ended 12/31/02 | ||||||
|---|---|---|---|---|---|---|---|
| EARNINGS: | |||||||
| Income (Loss) from Continuing Operations before income taxes | $ | (1,555,669 | ) | ||||
| Add (Deduct): | |||||||
| Earnings on Equity Method | (43,675 | ) | |||||
| Distributions from Minority Subsidiaries | 31,328 | ||||||
| Minority interest in pre-tax income of subsidiaries that do not have fixed charges | (15,044 | ) | |||||
| (1,583,060 | ) | ||||||
| Add fixed charges: | |||||||
| Consolidated interest expense | 157,034 | ||||||
| Interest Portion (1/3) of Consolidated Rent Expense | 27,461 | ||||||
| $ | (1,398,565 | ) | |||||
FIXED CHARGES: | |||||||
| Consolidated interest expense/Trust Originated Preferred Securities | $ | 157,034 | |||||
| Interest Portion (1/3) of Consolidated Rent Expense | 27,461 | ||||||
| $ | 184,495 | ||||||
RATIO OF EARNINGS TO FIXED CHARGES | — | ||||||
| Tax-Effected Redeemable Preferred Dividends | $ | 25 | |||||
| Fixed Charges | 184,495 | ||||||
| Fixed Charges and Redeemable Preferred Dividends | $ | 184,520 | |||||
RATIO OF EARNINGS TO FIXED CHARGES AND REDEEMABLE PREFERRED DIVIDENDS | — | ||||||
| Tax-Effected Preferred Dividends | $ | 750 | |||||
| Fixed Charges | 184,495 | ||||||
| Fixed Charges and Preferred Dividends | $ | 185,245 | |||||
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS | — | ||||||
The dollar deficiency resulting in less than one-to-one coverage is $1,583,060 for the ratio of earnings to fixed charges, $1,583,085 for the ratio of earnings to fixed charges and redeemable preferred dividends and $1,583,810 for the ratio of earnings to fixed charges and preferred dividends.
