EXHIBIT 12.1 AIRTOUCH COMMUNICATIONS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in millions) Quarter Ended March 31, Ended December 31 --------------- ------------------------------------------------------ 1998 1997 1996 1995 1994 1993 --------------- ---------- --------- --------- --------- --------- 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 -------------- ---------- --------- --------- --------- --------- Total $ 266 $ 1,144 $ 580 $ 344 $ 259 $ 227 ======== ====== ===== ===== ===== ===== 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 -- -- -- -------------- ---------- --------- --------- --------- --------- Total fixed charges $ 52 $ 218 $ 146 $ 48 $ 25 $ 38 ======== ====== ===== ===== ===== ===== RATIO OF EARNINGS TO FIXED CHARGES 5.1 5.2 4.0 7.2 10.4 6.0 ======== ====== ===== ===== ===== ===== (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.