Telephone and Data Systems (TDS) 10-Q 2013 Q3 Quarterly report

						Exhibit 12
TELEPHONE AND DATA SYSTEMS, INC. RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
			Nine Months Ended
			September 30,
			2013		2012
(Dollars in thousands)
EARNINGS:
	Income before income taxes (1)		$	304,388	$	249,282
	Add (deduct):
		Equity in earnings of unconsolidated entities		(100,303)		(73,796)
		Distributions from unconsolidated entities		51,879		45,558
		Amortization of capitalized interest		2,604		1,220
		Income attributable to noncontrolling interests in subsidiaries   that do not have fixed charges		(5,839)		(18,072)
				252,729		204,192
	Add fixed charges:
		Consolidated interest expense (2)		73,208		68,100
		Interest portion (1/3) of consolidated rent expense		38,201		42,541
			$	364,138	$	314,833
FIXED CHARGES:
		Consolidated interest expense (2)	$	73,208	$	68,100
		Capitalized interest		17,029		15,242
		Interest portion (1/3) of consolidated rent expense		38,201		42,541
			$	128,438	$	125,883
RATIO OF EARNINGS TO FIXED CHARGES				2.84		2.50
		Tax-effected preferred dividends	$	40	$	57
		Fixed charges		128,438		125,883
		Fixed charges and preferred dividends	$	128,478	$	125,940
RATIO OF EARNINGS TO FIXED CHARGES AND   PREFERRED DIVIDENDS				2.83		2.50
	(1)	Includes gain on sale of business and other exit costs, net of $297.6 million and $4.1 million in 2013 and 2012, respectively.
	(2)	Interest expense on income tax contingencies is not included in fixed charges.