Exhibit 12 UNITED STATES CELLULAR CORPORATION RATIO OF EARNINGS TO FIXED CHARGES Nine Months Ended September 30, 1995 ---------------------- (Dollars in thousands) EARNINGS Income from Continuing Operations before income taxes $ 117,349 Add (Deduct): Minority Share of Cellular Losses (106) Earnings on Equity Method (28,641) Distributions from Minority Subsidiaries 5,211 Amortization of Capitalized Interest 3 Minority interest in income of majority-owned subsidiaries that have fixed charges 1,266 --------- 95,082 Add fixed charges: Consolidated interest expense 21,180 Interest Portion (1/3) of Consolidated Rent Expense 1,600 --------- $ 117,862 ========= FIXED CHARGES Consolidated interest expense $ 21,180 Interest Portion (1/3) of Consolidated Rent Expense 1,600 --------- $ 22,780 ========= RATIO OF EARNINGS TO FIXED CHARGES 5.17 ========= Tax-Effected Preferred Dividends $ -- Fixed Charges 22,780 --------- Fixed Charges and Preferred Dividends $ 22,780 ========= RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS 5.17 =========