Exhibit 12.1
TELEPHONE AND DATA SYSTEMS, INC.
RATIOS OF EARNINGS TO FIXED CHARGES
For the Twelve Months ended December 31, 2003
(Dollars In Thousands)
As Restated
| EARNINGS: | |||||||||
| Income (Loss) from Continuing Operations before income taxes and minority interest | $ | 130,736 | |||||||
| Add (Deduct): | |||||||||
| Earnings on Equity Method Investments | (53,154 | ) | |||||||
| Distributions from Minority Subsidiaries | 45,427 | ||||||||
| Minority interest in pre-tax income of subsidiaries that do not have fixed charges | (12,606 | ) | |||||||
| 110,403 | |||||||||
| Add fixed charges: | |||||||||
| Consolidated interest expense | 188,069 | ||||||||
| Interest Portion (1/3) of Consolidated Rent Expense | 27,607 | ||||||||
| $ | 326,079 | ||||||||
FIXED CHARGES: | |||||||||
| Consolidated interest expense | $ | 188,069 | |||||||
| Interest Portion (1/3) of Consolidated Rent Expense | 27,607 | ||||||||
| $ | 215,676 | ||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 1.51 | ||||||||
Tax-Effected Preferred Dividends | $ | 652 | |||||||
| Fixed Charges | 215,676 | ||||||||
| Fixed Charges and Preferred Dividends | $ | 216,328 | |||||||
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS | 1.51 | ||||||||
