Exhibit 12 UNITED STATES CELLULAR CORPORATION RATIO OF EARNINGS TO FIXED CHARGES For the Six Months Ended June 30, 1994 Six Months Ended June 30, 1994 ------------------- (Dollars in thousands) EARNINGS Income from Continuing Operations before income taxes $ 5,646 Add (Deduct): Minority Share of Cellular Losses (75) Earnings on Equity Method (12,329) Distributions from Minority Subsidiaries 8,450 Amortization of Capitalized Interest 10 Minority interest in income of majority-owned subsidiaries that have fixed charges 1,584 ------------ $ 3,286 Add fixed charges: Consolidated interest expense 8,907 Interest Portion (1/3) of Consolidated Rent Expense 815 ------------ $ 13,008 FIXED CHARGES Consolidated interest expense 8,907 Interest Portion (1/3) of Consolidated Rent Expense 815 ------------ $ 9,722 RATIO OF EARNINGS TO FIXED CHARGES 1.34 ============ Tax-Effected Preferred Dividends $ --- Fixed Charges 9,722 ------------ Fixed Charges and Preferred Dividends $ 9,722 RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS 1.34 ============