EXHIBIT 12.1
AIRTOUCH COMMUNICATIONS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
Quarter Ended
March 31, Ended December 31
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1998 1997 1996 1995 1994 1993
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EARNINGS
Pre-tax income $ 246 $ 714 $ 348 $ 245 $ 206 $ 108
Add back:
Minority interests in net income of
consolidated wireless systems 42 119 95 36 16 46
Equity in net (income) loss of less-than-
fifty-percent-owned unconsolidated
wireless systems ( 51) ( 93) 56 28 11 30
Distributed income of less-than-fifty-percent-
owned unconsolidated wireless systems 2 284 1 2 1 9
Fixed charges included in reported pre-tax income 27 120 80 33 25 34
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Total $ 266 $ 1,144 $ 580 $ 344 $ 259 $ 227
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FIXED CHARGES
Total interest on debt $ 24 $ 103 $ 83 $ 28 $ 11 $ 26
1/3 operating rental expense 8 30 28 20 14 12
Preferred stock dividends (1) 20 85 35 -- -- --
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Total fixed charges $ 52 $ 218 $ 146 $ 48 $ 25 $ 38
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RATIO OF EARNINGS TO FIXED CHARGES 5.1 5.2 4.0 7.2 10.4 6.0
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(1) Preferred stock dividends were increased to amounts of pre-tax earnings
that would be required to cover such dividends based on the effective
income tax rates for the periods presented. These after-tax dividend
amounts were $14 million for the quarter ended March 31, 1998, $54 million
for the year ended December 31, 1997, and $20 million for the year ended
December 31, 1996.