Exhibit 12 UNITED STATES CELLULAR CORPORATION RATIO OF EARNINGS TO FIXED CHARGES Three Months Ended March 31, 1995 -------------------- (Dollars in thousands) EARNINGS Income from Continuing Operations before income taxes $ 26,795 Add (Deduct): Minority Share of Cellular Losses (56) Earnings on Equity Method (9,717) Distributions from Minority Subsidiaries 1,790 Amortization of Capitalized Interest 1 Minority interest in income of majority-owned subsidiaries that have fixed charges 510 -------------- 19,323 Add fixed charges: Consolidated interest expense 7,705 Interest Portion (1/3) of Consolidated Rent Expense 533 -------------- $ 27,561 ============== FIXED CHARGES Consolidated interest expense $ 7,705 Interest Portion (1/3) of Consolidated Rent Expense 533 -------------- $ 8,238 ============== RATIO OF EARNINGS TO FIXED CHARGES 3.35 ============== Tax-Effected Preferred Dividends $ --- Fixed Charges 8,238 -------------- Fixed Charges and Preferred Dividends $ 8,238 ============== RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS 3.35 ==============