1 Exhibit 12 GTE Hawaiian Telephone Company Incorporated and Subsidiaries STATEMENT OF THE CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES (Thousands of Dollars) Three Months Ended March 31, 1997 -------------- Net earnings available for fixed charges: Income from continuing operations $ 11,662 Add - Income taxes 6,878 - Fixed charges 11,168 -------------- Adjusted earnings $ 29,708 ============== Fixed charges: Interest expense $ 10,180 Portion of rent expense representing interest 988 -------------- Adjusted fixed charges $ 11,168 ============== RATIO OF EARNINGS TO FIXED CHARGES 2.66