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.