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Exhibit 12.3
UNITED STATES CELLULAR CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
For the Six Months ended June 30, 2003
(Dollars In Thousands)
As Restated
| EARNINGS: | |||||||
| Income (loss) before income taxes and minority interest | $ | (8,637 | ) | ||||
| Add (Deduct): | |||||||
| Earnings on Equity Method Investments | (25,862 | ) | |||||
| Distributions from Minority Subsidiaries | 17,564 | ||||||
| Minority interest in income of majority-owned subsidiaries that do not have fixed charges | (6,071 | ) | |||||
| (23,006 | ) | ||||||
| Add fixed charges: | |||||||
| Consolidated interest expense | 31,139 | ||||||
| Deferred Debt Amortization Expense | 759 | ||||||
| Interest Portion (1/3) of Consolidated Rent Expense | 11,734 | ||||||
| $ | 20,626 | ||||||
| FIXED CHARGES: | |||||||
| Consolidated interest expense | $ | 31,139 | |||||
| Deferred Debt Amortization Expense | 759 | ||||||
| Interest Portion (1/3) of Consolidated Rent Expense | 11,734 | ||||||
| $ | 43,632 | ||||||
| RATIO OF EARNINGS TO FIXED CHARGES | NA | ||||||
The dollar deficiency resulting in less than one-to-one coverage is $23,006 for the ratio of earnings to fixed charges.
UNITED STATES CELLULAR CORPORATION RATIO OF EARNINGS TO FIXED CHARGES For the Six Months ended June 30, 2003 (Dollars In Thousands) As Restated