UNITED STATES CELLULAR CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
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| Six Months Ended | |||||
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| June 30, | ||||
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| 2016 |
| 2015 | ||
(Dollars in millions) |
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EARNINGS: |
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| Income 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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| $ |
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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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| $ |
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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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| $ |
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RATIO OF EARNINGS TO FIXED CHARGES |
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| 4.85 | |||||
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1 | Includes Gain on sale of business and other exit costs, net of $113 million in 2015. Additionally, includes $9 million and $123 million of Gain on license sales and exchanges, net in 2016 and 2015, respectively. | ||||||||
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2 | Interest expense on income tax contingencies is not included in fixed charges. | ||||||||