United States Cellular Corporat (UZD) 10-K 2007 FY Annual report

Exhibit 12

UNITED STATES CELLULAR CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

For the Year Ended December 31,

(Dollars in Thousands)

	2007			2006			2005			2004			2003
EARNINGS:
Income (loss) before income taxes and minority interest	$	546,501		$	313,138		$	261,347		$	159,469		$	44,831
Add (deduct):
Equity in earnings of unconsolidated entities	(90,033		)	(93,119		)	(66,719		)	(64,161		)	(50,425		)
Distributions from unconsolidated entities	86,873			77,835			52,112			46,385			44,940
Minority interest in pre-tax income of subsidiaries that do not have fixed charges	(23,338		)	(15,999		)	(12,478		)	(12,625		)	(13,846		)
	520,003			281,855			234,262			129,068			25,500
Add fixed charges:
Consolidated interest expense (1)	84,679			93,674			84,867			86,241			64,607
Interest portion (1/3) of consolidated rent expense	35,461			30,659			30,142			26,938			21,051
	$	640,143		$	406,188		$	349,271		$	242,247		$	111,158
FIXED CHARGES:
Consolidated interest expense (1)	$	84,679		$	93,674		$	84,867		$	86,241		$	64,607
Interest portion (1/3) of consolidated rent expense	35,461			30,659			30,142			26,938			21,051
	$	120,140		$	124,333		$	115,009		$	113,179		$	85,658
RATIO OF EARNINGS TO FIXED CHARGES	5.33			3.27			3.04			2.14			1.30
Tax-effected preferred dividends	$	—		$	—		$	—		$	—		$	25
Fixed charges	120,140			124,333			115,009			113,179			85,658
Fixed charges and preferred dividends	$	120,140		$	124,333		$	115,009		$	113,179		$	85,683
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS	5.33			3.27			3.04			2.14			1.30

(1)Interest expense on income tax contingencies is not included in fixed charges.