Exhibit 12 UNITED STATES CELLULAR CORPORATION RATIO OF EARNINGS TO FIXED CHARGES Six Months Ended June 30, 1997 ---------------------- (Dollars in thousands) EARNINGS Income from Continuing Operations before income taxes $ 89,563 Add (Deduct): Minority Share of Cellular Losses (111) Earnings on Equity Method (36,423) Distributions from Minority Subsidiaries 21,533 Amortization of Capitalized Interest -- Minority interest in income of majority-owned subsidiaries that have fixed charges -- ----------------- $ 74,562 Add fixed charges: Consolidated interest expense 12,181 Deferred debt expense 232 Interest Portion (1/3) of Consolidated Rent Expense 2,063 ----------------- $ 89,038 FIXED CHARGES Consolidated interest expense 12,181 Deferred debt expense 232 Interest Portion (1/3) of Consolidated Rent Expense 2,063 ----------------- $ 14,476 RATIO OF EARNINGS TO FIXED CHARGES 6.15 ================= Tax-Effected Preferred Dividends $ -- Fixed Charges 14,476 ----------------- Fixed Charges and Preferred Dividends $ 14,476 RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS 6.15 =================