EXHIBIT 12
TELEPHONE AND DATA SYSTEMS, INC.
RATIOS OF EARNINGS TO FIXED CHARGES
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 1993
(DOLLARS IN THOUSANDS)
12 MONTHS ENDED
12/31/93
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EARNINGS:
Income from Continuing Operations before Income Taxes........................................................ $ 60,393
Add (Deduct):
Minority Share of Losses................................................................................. (4,860)
Earnings on Equity Method................................................................................ (20,015)
Distributions from Minority Subsidiaries................................................................. 11,943
Amortization of Non-Telephone Capitalized Interest....................................................... 42
Minority share of income in majority-owned subsidiaries that have fixed charges.......................... 1,308
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48,811
Add fixed charges:
Consolidated interest expense............................................................................ 37,282
Interest Portion (1/3) of Consolidated Rent Expense...................................................... 4,914
Amortization of debt expense and discount on indebtedness................................................ 184
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$ 91,191
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FIXED CHARGES:
Consolidated interest expense................................................................................ $ 37,282
Interest Portion (1/3) of Consolidated Rent Expense.......................................................... 4,914
Amortization of debt expense and discount on indebtedness.................................................... 184
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$ 42,380
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RATIO OF EARNINGS TO FIXED CHARGES............................................................................. 2.15
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Tax-Effected Redeemable Preferred Dividends.................................................................. $ 2,376
Fixed Charges................................................................................................ 42,380
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Fixed Charges and Redeemable Preferred Dividends........................................................... $ 44,756
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RATIO OF EARNINGS TO FIXED CHARGES AND REDEEMABLE PREFERRED DIVIDENDS.......................................... 2.04
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Tax-Effected Preferred Dividends............................................................................. $ 4,251
Fixed Charges................................................................................................ 42,380
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Fixed Charges and Preferred Dividends...................................................................... $ 46,631
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RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS..................................................... 1.96
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