TELEPHONE AND DATA SYSTEMS, INC.
RATIO OF EARNINGS TO FIXED CHARGES
2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 | ||||||||
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EARNINGS: |
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Income (loss) before income taxes1 | $ |
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Add (deduct): |
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| Equity in earnings of unconsolidated entities |
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| Distributions from unconsolidated entities |
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| Amortization of capitalized interest |
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| Income attributable to noncontrolling interests in subsidiaries that do not have fixed charges |
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Add fixed charges: |
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| Consolidated interest expense2 |
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| Interest portion (1/3) of consolidated rent expense |
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FIXED CHARGES: |
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| Consolidated interest expense2 | $ |
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| Capitalized interest |
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| Interest portion (1/3) of consolidated rent expense |
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RATIO OF EARNINGS TO FIXED CHARGES3 |
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1 | Includes non-cash charges related to losses on impairment of $262 million in 2017 and $88 million in 2014. | |||||||||||||||
| Includes gain on sale of business and other exit costs, net of $1 million, $1 million, $136 million, $16 million and $301 million in 2017, 2016, 2015, 2014 and 2013, respectively. | |||||||||||||||
| Includes gain on license sales and exchanges, net of $22 million, $20 million, $147 million, $113 million and $256 million in 2017, 2016, 2015, 2014 and 2013, respectively. | |||||||||||||||
| Includes gain on investments of $15 million in 2013. | |||||||||||||||
2 | Interest expense on income tax contingencies is not included in fixed charges. | |||||||||||||||
3 | Ratio of earnings to fixed charges and preferred dividends was also 1.21, 2.69 and 2.41 for the years ended December 31, 2016, 2015 and 2013, respectively. | |||||||||||||||
* | Earnings in 2017 and 2014 were inadequate to cover fixed charges by $118 million, and $176 million, respectively, and fixed charges and preferred dividends by $118 million and $176 million, respectively. | |||||||||||||||
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