1 EXHIBIT 12.1 AIRTOUCH COMMUNICATIONS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 9 Mos. Year Year Year Year Year (Dollars in millions) 1995 1994 1993 1992 1991 1990 -------- -------- -------- -------- -------- ------- EARNINGS Reported pre-tax income from continuing operations $ 228.7 $ 206.4 $ 107.9 $ 14.4 $ 92.9 $ 101.7 Add back: Equity in net losses of less-than- fifty-percent-owned unconsolidated wireless systems 78.6 35.3 36.6 38.6 21.5 11.5 Distributed income of less-than- fifty-percent-owned unconsolidated wireless systems 1.7 1.1 8.7 7.8 0.0 0.0 Fixed charges included in reported pre-tax income 15.7 24.5 34.5 64.3 46.8 27.8 Deduct: Minority interests in net losses of consolidated wireless systems (21.1) (21.7) (3.8) (2.5) 0.0 (4.9) -------- -------- -------- -------- -------- ------- Total $ 303.6 $ 245.6 $ 183.9 $ 122.6 $ 161.2 $ 136.1 -------- -------- -------- -------- -------- ------- FIXED CHARGES Total interest on debt $ 11.6 $ 10.7 $ 25.8 $ 56.5 $ 49.2 $ 29.5 1/3 operating rental expense 11.3 14.2 12.4 11.4 9.2 6.1 -------- -------- -------- -------- -------- ------- Total $ 22.9 $ 24.9 $ 38.2 $ 67.9 $ 58.4 $ 35.6 -------- -------- -------- -------- -------- ------- RATIO OF EARNINGS TO FIXED CHARGES 13.3 9.9 4.8 1.8 2.8 3.8 ======== ======== ======== ======== ======== ======= Prior to April 1, 1994, the Company was an 86.1% owned subsidiary of Pacific Telesis Group ("Telesis"). As a subsidiary of Telesis, the Company met its funding requirements primarily through short-term borrowings and equity contributions from Telesis. During 1993, Telesis provided equity contributions of $1,179.8 million which the Company used to significantly reduce its indebtedness to Telesis. The Company's indebtedness to Telesis totaled $958.4 million, $0.3 million, and $0.0 million at December 31, 1992, 1993, and 1994, respectively.