Exhibit 12 UNITED STATES CELLULAR CORPORATION RATIO OF EARNINGS TO FIXED CHARGES Nine Months Ended September 30, 1996 ------------------- (Dollars in thousands) EARNINGS Income from Continuing Operations before income taxes $ 223,740 Add (Deduct): Minority Share of Cellular Losses (309) Earnings on Equity Method (36,401) Distributions from Minority Subsidiaries 16,460 Amortization of Capitalized Interest -- Minority interest in income of majority-owned -- subsidiaries that have fixed charges --------- $ 203,490 Add fixed charges: Consolidated interest expense 17,496 Interest Portion (1/3) of Consolidated Rent Expense 2,441 --------- $ 223,427 --------- FIXED CHARGES Consolidated interest expense 17,496 Interest Portion (1/3) of Consolidated Rent Expense 2,441 --------- $ 19,937 RATIO OF EARNINGS TO FIXED CHARGES 11.21 ========= Tax-Effected Preferred Dividends $ -- Fixed Charges 19,937 --------- Fixed Charges and Preferred Dividends $ 19,937 RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS 11.21 =========