1 Exhibit 12 GTE Hawaiian Telephone Company Incorporated and Subsidiaries STATEMENT OF THE CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES (Thousands of Dollars) Six Months Ended June 30, 1997 ---------------- Net earnings available for fixed charges: Income from continuing operations $35,347 Add - Income taxes 20,450 - Fixed charges 22,398 ------- Adjusted earnings $78,195 ======= Fixed charges: Interest expense $20,358 Portion of rent expense representing interest 2,040 ------- Adjusted fixed charges $22,398 ======= RATIO OF EARNINGS TO FIXED CHARGES 3.49