1 Exhibit 12 GTE Hawaiian Telephone Company Incorporated and Subsidiaries STATEMENT OF THE CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES (Thousands of Dollars) Nine Months Ended September 30, 1997 --------------------- Net earnings available for fixed charges: Income from continuing operations $ 45,526 Add - Income taxes 36,961 - Fixed charges 33,796 --------------------- Adjusted earnings $ 116,283 ===================== Fixed charges: Interest expense $ 30,573 Portion of rent expense representing interest 3,223 --------------------- Adjusted fixed charges $ 33,796 ===================== RATIO OF EARNINGS TO FIXED CHARGES 3.44